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SHAMBLES: URU Metals – Late FY And Interim Results Finally Published But Shares suspended for a few more hours after IT cock up

John Zorbas’ AIM-listed URU Metals (URU) this morning finally got around to releasing results to March 2022 (!) and Interims to September 2022 this morning. Both were late, which is why the shares were suspended at the start of the year. The numbers are, of course, dreadful – but the shares remained suspended for a few more hours because the Company had not managed to publish either set of results on its website! What a shambles.

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URU Metals – No-One-Is-Watching O’Clock Suspension Pending (Already) Late Accounts

Yesterday afternoon, at 3.41pm (no-one-is-watching o’clock on the penultimate trading day before Christmas) AIM-listed John Zorbas vehicle URU Metals (URU) announced that its shares would be suspended as from 3 January 2023 as it is still unable to produce its accounts, even after a three-month extension. The announcement, if you read between the lines, was utterly grim.

NEWSFLOW

URU - To Be Suspended From Trading Pending (already late) Accounts From January.......told y'all

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URU Metals – 85p per share Death Spiral Conversion Rolled Over Again!

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.

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URU Metals – Drilling News From Canada: Good News? Er….

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.

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Red Flags At Night: URU – 7am Pump, No-One-Is-Watching O’clock Dump by John Zorbas

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.

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Uru Metals – shares ramped up on US OTC Spoof, John Zorbas is 'avin' a Turkish

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.

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URU Metals – Interims On Deadline Day In No-One-IS-Watching Week. Uh-Oh……

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

#URU Metals – H1 loss, tangible assets $2.8m, liabilities $2.7m

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Red Flags At Night: URU Metals – Rules Are For Little People

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…