The NR is indeed very interesting and for all we know it may be very accurate?? I read the NR and thought it was something to think about. I have to say/agree we have heard nothing at all wrt the ISM requested meeting and when we did it sure was buried in that NR yesterday!

Does UMJ really need a sudden injection of $2,580,000? Anybody know what the cashflow from operations is like at UMJ at present?

"The proceeds of the offering will be used for continuing exploration on the Company's existing properties and general administrative expenses.

Richard Sutcliffe, URSA Major's President and CEO stated, "The proceeds of this financing will provide the Company with the capability to accelerate its current exploration program at the Shakespeare nickel-copper deposit, Nickel Offsets property and other Ontario properties. The Company will continue to drill down plunge from the Shakespeare East Deposit where we anticipate an opportunity to significantly expand the current nickel-copper resources at Shakespeare. Currently we are drill testing a strong borehole EM conductor down-plunge from known mineralization. In addition, we intend to conduct further drilling at Nickel Offsets, where we have outlined high grade nickel-copper-platinum group metal targets from the drilling program in late 2010. Through the use of airborne electromagnetic and magnetic surveys we have also identified targets for nickel, copper and platinum group metals potential on our Thunder Bay properties."

You stated: "I gueess they must since they have sunk a fair bit of the remaining treasure chest into UMJ."

Have you actually got the $ numbers on what this acqusition has cost ISM to get the nearly 20% ownership. I don't off hand, but I will try to add it up.

"Inspiration intends to take all appropriate action against Ursa, its management and directors for their oppressive conduct in connection with the proposed private placement."

I too wonder how they can fight it and on what grounds?

I guess this explains how one can talk about the terms "friendly" and "hostile" when it comes to business. Solicited and unsolicited?

Let's simply go back and look at this without considering today's NR response from ISM. Say they own 20%, how can they come in and persuade the other 80% to vote with them and unseat the current slate of directors etc? How do they sell this on the present and I would assume loyal shareholders of UMJ? Obviously there are some positives here at UMJ or ISM would not be chasing their stock. At 20% ownership isn't at least one or tow outside directors placed on the board to reflect that? This has always been a question for me is how can they manage to pull this off?

Heck this is nothing. What do you think poison pills and SRP's are designed for? Who doesn't have something like that in place? Would the word oppressive or defensive be a better choice there as well?

http://agoracom.com/ir/Ursa/forums/discussion/topics/459028-the-srp-good-time-to-review/messages/1497231#message

Almost as interesting and as messed up as politics imho.

Looking forward to the next rounds. What is the sell here and what does ISM bring to the table to persuade UMJ shareholders to "come aboard/get onside"?

IMHO