I'm in the camp of those who would not feel very good at all with a 3 bagger from .035 because my avg. is .09. It is all about each individuals investment. I feel good at .09. There will be some people that still hold shares from 2008 that they bought at .25 or perhaps .40 or even a bit more. As obvious as it may seem to some people there are others who can't average down or won't for various reasons. They missed selling for a small loss and watched it drop all the way to where we are now. Me too, even from .09, in hindsight, I should have sold.

Personally, after 2 1/2 years, I am still a believer and will be buying more to get my average down. I think that commercial production will soon be able to be announced and I think the price of silver will rise significantly. The sale of the McFauld's property was a shrewd move to ensure that there is cash on hand. Here is a short article on the TSX.V that came out today in Pinnacle Digest. My opinion is that UC will not only be a survivor but will prosper.

Cheers to a great 2013 for UC !!

Brent

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A company is not considered a warrior just because it still trades. It is considered a warrior because of its ability to remain strong despite the tough market environment of 2012. Companies in a favorable position today, perhaps not in share price, but in cash on hand and advancing assets, in this market, have proven they are fighters, extremely savvy and have an asset which still generates significant capital interest. These companies have strong connections due to significant past successes and know how to protect and grow their company in the harshest of economic environments.

The bottom line is that this prolonged multi-year slump in the juniors, although tough on many portfolios, has forcibly thinned the herd. It has done investors of today a favor by eliminating the weak companies and dramatically reducing the value of even the best positioned companies. To be clear, eliminated does not necessarily mean bankrupt or gone. A company with less than $250,000 in the treasury, no asset or a weak under-explored or under-developed asset, accompanied by obviously weak management, might as well not exist. There are hundreds of companies that are simply not a viable investment - not even from a speculation or a gambling perspective. They're just dead in the water.

Kaiser Research Online reported on December 2, 2012 that there were 632 mining focused companies on the TSX or TSX Venture with less than $200,000 working capital. Accounting and exchange fees, never mind office rent, can run more than $100,000 annually. Even without paying salaries, one can see how 500 companies could be extinct in short-order. So make sure the companies you are conducting due-diligence on have, at the very least, plenty of cash in their treasuries.