Hi Folks
Emmi, thanks for your comments re my posts...as long winded as they are a lot of the time :)
I endeavour to be objective however I am invested here and I see the enormous potential in this. So my objectivity will always be tainted. Thats a fact.
Fact is I too recommended Uran to others and even now I look back and find it hard to recognise the Uran and Kate Hobbs that was so 'out there' so bullish, so confident of not 1 or 2 but 3 projects and production...blah blah blah. We know the story.
Its why I started this thread. Kate Hobbs you see owes current shareholders BIG TIME. Yes we all entered a high risk spec stock and we took our chances based on research gut feeling and the confidence of Uran in their own vision.
They differentiated themselves from 'other juniors'.
Make no mistake about that...nor apologise for it, Kate Hobbs took us all on a ride and didnt leave the station...for whatever reasons.
It resulted in the now famous 'quiet time' the 'silence'....that followed the lapsed option for Discovery early 2007 and the almost dumbfounded Rozna response..."er we dunno what will happen..."
It wasnt 'managing' the situation...it was running away from it..and it was running away from the responsibility to shareholders. This was exacerbated by a major holder selling down and soon after the Chairman (Dad) 'moving on'
Now thats life. It happened. But we 'know' through 'demonstrated' feedback here that Uran and particularly Kate herself, werent too eager to respond to shareholders. Many of us didnt get responses to emails. Some of us waited in excess of 40 days for a response after several attempts.
They may have picked up their act, but these guys still have a way to go.
I acknowledge their efforts to get better...but in saying that they are only getting to a level 'expected' by a professionally run company and management anyway.
I dont think there should be too much fanfare....because folks, our company/management have not delivered anything and have eroded shareholder wealth.
Everything they have touched has to this point failed.
What Satori?
Rozna? Failed first bid. Ridiculous offer. Just ask the Czechs.
Uzbekistan? Failed...and not explained and left to just..fade away.
Africa? What? Who said that..?
Pribram...? Wheres the updates there?
Kazakhstan? 7 months or so...what there?
Ukraine? Imminent as it may well be (for 18 months) we alas have nothing.
Bulgaria? Seems thats well past the 'not before' timeline.
Tungsten? Well $10,000 will give you an option to buy a project (and a second hand car pre 2003) well after the mining boom has hit and you will pay a premium of $US 165,000 for it....and a 1% Royalty to Mr Richie Rich.
Just how good is a project that cheap, this far in to the cycle, and just how serious 'really' is Uran with this anyway?
I support Uran 100% and I back management....and I back Kate Hobbs by the way.
But Kate hasnt supported 'me' or 'us'...many of us are way down on our intial investment.
Kate has a lot of work to do to get the 'respect' and the value 'back into' this company and reward those of us that who 'enabled her' to live her dream and pursue these opportunities....opportunities she hasnt been able to take I might add.
Money was raised from shareholders and it was raised on the promise of results...not pipe dreams.
So folks I say this, be confident of the future here, but keep an eye on the track record, the history with this company and this management team.
THEY HAVE NOT DELIVERED.
They have not been proactive.
Let me give you a recent 'example of what 'proactive' is? Of what protecting your company and your shareholders is.
Take a look at PLV's latest announcement. Look at what the MD has done there with this latest saga. Did he bury his head in the sand? Did he 'go quiet'?
No he got on the front foot and 'managed'..(HIS JOB is to do that)...the company and turned a negative into a positive.
'Thats' management. Proactive and passionate.
And we all know who the MD is, not pissing in his pocket by the way. Dont need to. I could use a few others, PLV just delivered something 'today' for us.
Folks Uran have a long way to go to prove themselves and to reward shareholders.
Flimsy motherhood statements in ASX releases cloaked in vague explanations and buck passing wont cut it in this market.
Weve seen it demonstrated time and again.
And one more thing, take a look 'out there' theres plenty of miners going great guns despite the market, despite the setbacks.
They are fronted by competent, proactive and passionate management.
Dont accept the comments coming that its a 'market' thing. Sure the uranium sector is down, but dont get distracted by deflecting the real issues that 'may' be evident here.
Clear enough? :)
PS heres a copy of todays PLV announcement that I referred to above.
And no, I am not invested in this company.
Read and see the difference AND the attitude here. Its what I expect of any company i'm invested in. I am yet to see it 'demonstrated' with Uran.
2.7 MILLION SHARE TRANSFER CANCELLED
2nd April, 2008, Melbourne: On Monday 31st March 2008, Pluton Resources Limited (“Pluton”)
(ASX: PLV) requested ASX to invoke a trading halt on its securities. Pluton took this action to
investigate the special crossing of 2.7 million PLV shares at a 50% discount to market value by
the broking firm Tricom.
Pluton has now been advised by ASX that the crossing of the 2.7 million shares has been
cancelled.
Furthermore, Pluton has been advised by the broker representing the seller that the 2.7 million
PLV shares that were for sale, due to Opes Prime Group Limited being placed into receivership,
have now been withdrawn from sale. Pluton had been working with its broker to place the shares
with local and overseas institutional investors.
Pluton is pleased with the institutional support it has received and the willingness of those
institutions to take up the shares and to provide ongoing support in the market.
In the circumstances, Pluton has requested ASX to lift the trading halt.
For further information please contact Mr Tony Schoer (Managing Director) on 0411 232 711.
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