http://www.marketwire.com/press-release/ursa-major-minerals-announces-establishment-of-special-committee-tsx-umj-1511791.htm

Nickel77 I would say that the CEO Randy Miller has a couple issues/business matters on the go wouldn't you? Do you honestly think that he has simply brought the UMJ/ISM matter up as a deflection/stall tactic from delivering an updated 43-101. Come on I don't think so.

I would lean towards Micon being the biggest factor in explaining possible delays for that expected 43-101, especially when reviewing the past delays on the original 43-101 produced last January/2010. We also have a new Geo in charge at Langmuir and who knows what the relationship between Micon and Andre is like, but we should assume they have been working closely together since ISM announced their intentions to follow thru on the Micon recommendations issued last January 2010

http://app.quotemedia.com/quotetools/newsStoryPopup.go?storyId=26496558&topic=ISM:CA&symbology=null&cp=null&webmasterId=92583

As for Randy, obviously they have been having a "battle" with UMJ over their wish to see a new slate of directors on board at UMJ. This has been concurrent for sometime and everyone knows that. Judging by the Friday NR, it looks like the matter is progressing in due course.

I am glad that the we are seeing the company continue to pursue the UMJ matter. The courts had ruled accordingly in the past and it looks as though ISM is following thru and complying as it has to in getting a new slate of directors installed or at least considered by present day UMJ shareholders. I very much look forward to seeing the circular they plan to produce and distribute in advance of the special meeting. As I mentioned earlier, how will they successfully sell this?

As such, it is also an obvious that the group at UMJ will go into a defensive survival mode and see this as a threat. In looking at past "engagements", UMJ has not been very welcoming or receptive have they?.......What group wouldn't?

"As the largest shareholder of URSA Major, we continue to be concerned that after numerous attempts at engagement, the current Board is not taking the necessary steps in order to maximize near term value for URSA shareholders."

Attempts at engagement? Are they friendly, cordial, or hostile? Do they only engage thru the courts? Did they share a coffee at the recent PDAC show?? Do they only become aware of each others intentions after reading each others news releases?

Yes it looks to be a fight and who wins will now be decided by the shareholders of UMJ once they get a chance to review and digest the offering and presentation made by ISM. The other unknown is that maybe the special committee at UMJ will have a plan?

Yes Nickel we also await an updated 43-101 and that will be a matter for Micon to eventually deliver when it is ready and up to their high standard I would assume.