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Message: Welcome to 2014, especially our notably absent optimists.

This is the year when the rubber obviously meets the road and I'm glad for it. The previous methodology was not providing deliverables. I have compiled a few questions for Gary based on our 2013/12/30 and 2013/03/01 News Releases.

2013/12/30 News Release stated:

  • 'UC Resources reports that mill operations have been closed and will be kept on temporary care and maintenance'.
  • 'The Company has not been able to run the mill profitably using the on-site tailings'.
  • 'In the new calendar year, the Company will prepare for Hard Rock mining at it's Xora concession'.
  • 'The Company is currently negotiating on a debt facility which would allow hard rock mining to commence on site'.

2013/03/01 News Release stated:

  • 'Company will be able to process tailings in three tailings ponds at the site'.
  • 'The Company consigned Clifton Environmental Services Ltd. for a larger tailings pond to accomodate production of the Xora virgin ore material'.
  • The Company will begin discussions with a Narrow Vein Mining Contractor for the Xora concession'.
  • 'The Company plans to mine, deliver, crush and process this raw material at the mill'.

Questions:

  1. Will this temporary closure exceed 30 days?
  2. What is the closing date on the financing?
  3. Did Clifton Environmental Services complete the construction of the larger tailings pond?
  4. Did UC complete the Narrow Vein Mining Contractor discussions and commit?
  5. Did we deliver, crush and process the Xora raw material successfully at the mill?
  6. Did the effort and yeild from this exercize indicate profitability at an $18.00/oz for Ag?

I will post Gary's response as & when I receive it.

Keep healthy folks !

Aafab

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