UCL 0.00% 30.0¢ ucl resources limited

activities report

  1. 8,139 Posts.
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    Excellent activities report today folks. The management is doing a good job from my perspective to get things moving as quickly and cheaply as possible. A couple of highlights for me:
    * the resource keeps growing. Copper resource component sounding better, results clear by end of year based on recent comments. Additional work been done on the open areas with high grade zinc intercepts. Also note the exploration of a separate historical zinc body which was known to be high grade - given the area was not mined with any sophistication I am expecting that will prove interesting as well.
    * work being done on different forms of extraction. Heap leaching being considered - according to the report not done with zinc but successfully with gold etc. Sounds like it would be a cheap and cost effective method if available which also would be easy to get up and running
    * work being done on a separate underground mine for the open area with high open grades outside the open pit area.

    Disappointing to see such a big seller this morning. I am presuming it was Merril given how much they have moved recently. Good appetite there for it though. Wait for the top 20 to see two things - a. where it went and b. was there in material reduction in % held by the top 20.

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