views

AIM-listed John Zorbas vehicle URU Metals (URU) has announced yet another roll-over of the particularly advantageous 85p conversion terms on its $500,000 death spiral funding from Boothbay Absolute Return Strategies LP. With the shares currently at 350p in the middle, this is a licence to print money. The giveaway terms are now open to Boothbay until 31 May 2023.

views

Shares in Aim-listed URU Metals (URU) have been on the rise and this morning the company issued an RNS regarding drilling news from 74.8% majority-owned ZEB Nickel, listed in Toronto (ZBNI) regarding the Zebediela Nickel project in South Africa. The RNS is, natch, very positive but I wonder if it really is.

views

Tom Winnifrith covered yesterday morning’s non-news of AIM-listed URU Metals’ (URU) proposed listing of majority-owned Toronto-listed subsidiary ZEB Nickel on the joke US OTCQB market. The shares rocketed from 170p to 210p on the news, a 23.5% gain. But the bald truth is that we are talking about a joke market with little liquidity and in any case, I would have thought your average US punter would manage to get access to the Toronto Venture exchange without having to deal with a tin-pot middle man.

views

Luckily those attracted to owning shares in joke John Zorbas company URU Metals (URU) have the collective IQ of a cheese sandwich so they fell for the spoof. But spoof it is. As Nigel pointed out when Uru snuck out dire results on New Year’s Eve, Uru is almost certainly running on vapours with a death spiral to convert outstanding debt kicking in at 85p. Thus, a share price of 200p (up 17% on the spoof) is insane.

views

Entirely predictably, AIM-listed John Zorbas vehicle URU Metals (URU) has slipped out its interim results on deadline day (never a good sign) in no-one-is-watching week, the few trading days between Christmas and New Year. As such it is a fabulous day to bury bad news……and there is, of course, plenty of bad news.

NEWSFLOW

views

Last night at 5.11pm – no-one-is-watching o’clock – AIM-listed URU Metals (URU) ‘fessed up that it had taken a C$950,000 loan from CEO John Zorbas last June. That, of course, is a related party transaction which therefore should have been disclosed but rules are for little people…

views

I cannot help but notice that shares in AIM-listed John Zorbas vehicle URU Metals (URU) have crashed by 19% thus far today, on no news. Having called it a sell at 405p in August, a sell at  320p in September and a sell at 270p earlier this month, the stock is now down to 190p. Of course, it is still a sell but perhaps it is time for an early Ouzo as the shares have now more than halved.

views

When I commented on AIM-listed URU Metals (URU) at the end of August, following the “disposal” of its Zebediela nickel asset to TSX-V listed cash shell (with no cash) Blue Rhino, now Zeb Nickel (TSX-V:ZBNI) the shares were 405p and I said sell as it was an accident waiting to happen. By mid-September they were down to 320p and I still said sell. Now, following after-hours full year results to March, slipped out at no-one-is-watching o’clock on deadline day (never a good sign) – and showing it had net current assets of MINUS $1.5 million – the shares are down again, to 270p – and in my view they are still monstrously overvalued and a sell.

views

AIM-listed URU Metals (URU) – the firm which prefers to mine its own shareholders rather than anything in the ground, according to Cynical Bear – slipped out its full year results to March last night at 5.35pm on deadline day. Truly, this is no-one-is-watching o’clock, but ShareProphets was watching and the numbers are – again – horrendous.