Micanushi:

I chatted with Jim a couple of times at PDAC. (Always a good idea to chat with the CEO.) Here are the two reasons for Jim buying lots of his own company shares:

1) the share price is incredibly cheap - averaging down

2) he wants to be the biggest UC shareholder with 2+ million shares - lead by example

As for the ROF, Jim has swallowed as many mosquitos up on the JBL as we have number of hours sitting in front of our computer monitors. He's also chewed on lots of Mexican dust (of course, followed by some Coronas). So he believes in his company. It might be an interesting exercise to compare the holdings of similar ROF CEOs.

IMHO - UC Resources is another example of a "high risk, high reward" ROF junior venture play. IMHO again - if you want less speculation, go and buy TECK. Today UBS has raised TECK from a NEUTRAL to a BUY. $6 -> $15 potentially.

Snug