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Mining Top 25 for 2010 - 19 - Universal Resources Limited

Released during January 2010, meaning that much has changed since then. Track our “Mining Top 25 portfolio” at Sign up at to receive all reports and alerts live, free of charge.

Price A$ 0.019

Ticker URL
O/S 892,340,000
Avg. Volume 892,240
Market Cap A$ 16.95
Sector Mining (Copper)
Countries Active Australia
Cash A$ 3.6M (Vulcan holds 28M in cash)

52 Week Low: A$ 0.01 (10/21/2009)
52 Week High: A$ 0.04 (1/2/2009)

Company Statement

Universal Resources Limited is an Australia-based mining and exploration company with a focus on base and precious metals within Australia. The Company’s major asset is the Roseby Copper project in the Cloncurry area of northwest Queensland.

The Company has
mineral rights to approximately 2,150 square kilometers of prime exploration ground in the Mt Isa Inlier of North West Queensland and in the Lachlan Fold Belt in New South Wales. On September 14, 2009, the Company announced the commencement of drilling at the Bedford North and Lady Clayre prospects within the Roseby Copper Project and Ivy Ann within the Cameron River Project. On September 28, 2009, the company announced a merger with Vulcan Resources creating a significant copper-focused global developement.

Positive / Negative

Merger with Vulcan provides a cash-injection of A$ 28M, Xstrata is shareholder of the company (4.5%), after the merger there are two projects with Feasibility Study.
Negative: Reverse split coming up in January, Capital Expenditure (capex) of 170M AUD > Further dilution probable.

Main catalysts for 2010

- Merger with Vulcan Minerals
- Construction decision on one of the two copper projects in Finland or Australia
- Xstrata holds a right to buy 51% of the Australian Project until June 2012


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Disclosure: We hold a Long position in Universal Resources Limited, this means we are biased, so please do your own research. Educational use only, not intended as advice.