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EPIC URU
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URU – Is Reality Starting to Bite? Not Enough!

I noted the other day that AIM-listed John Zorbas vehicle URU Metals (URU) seemed to be an accident waiting to happen. With a boat-load of death spiral shares and warrants to come at 85p against a then share price of 405p, that was surely enough of a Red Flag, but with its main asset now held in TSXV-listed ZEB Nickel (ZBNI) following a “disposal” which was not really a disposal, whose shares (of which URU holds 41 million of, but mostly held in escrow) and ZEB’s shares sliding alarmingly since the suspension was lifted, the Red Flags were certainly fluttering wildly in the wind.

EPIC URU
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John Zorbas Vehicle URU Metals – Where Are We Now? Do the Maths……

It has been a busy few weeks for AIM-listed John Zorbas vehicle URU Metals (URU). The “sale” of its Zebediela nickel project in South Africa to Toronto Venture Exchange listed (lack-of) cash shell Blue Rhino (RHNO), now renamed ZEB Nickel (ZBNI) has completed, with Zeb having raised some cash along the way. But it seems that the Toronto market is less than impressed.

EPIC URU
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URU – “Disposal” News: the stench is unbearable!

AIM-listed John Zorbas outfit URU Metals (URU) had a good day in the market yesterday as its shares shot up by 8% to 405p on news of developments regarding its “disposal” of the Zebediela nickel project in South Africa to Toronto Venture Exchange listed Blue Rhino (RHNO). Except as far as I can see it is not really a disposal as one might normally understand the word.

EPIC URU
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Red Flags at Night – URU Metals: more Death Spiral – at a 74% discount. Run for the Hills!

Last night, at 6.02pm – no-one-is-watching o’clock – AIM-listed URU Metals (URU) announced it has increased the death spiral facility with an outfit called Boothbay Absolute Return Strategies from $250,000 to $500,000 – and the bargain giveaway conversion terms which were originally due to expire within 90 days of the original loan have again been extended so that Boothbay can convert at just 85p……with the stock trading at 325p!

EPIC URU
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URU Metals – A Case of Two Drunks?

One of Tom Winnifrith’s more memorable descriptions in the stock market is one of two hopeless companies deciding to merge as being like two drunks trying to prop each other up. On Wednesday night, at no-one-is-watching o’clock (5.21 pm) – except ShareProphets was watching – AIM-listed John Zorbas vehicle URU Metals (URU) announced the potential disposal of its Zebediela project in South Africa to Canadian-listed (on the Toronto Venture Exchange) Blue Rhino Capital (RHNO). The shares shot up by 27% and are a little higher today at 290p, but I wonder whether anyone has actually considered what is going on here.

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