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Indef, I saw your post on 100% gainers. Are you in this one also. I believe it is at the bottom and could be a good play. This came out today. I also posted GWGOE however Im alot less sure of that one. Time will tell.
SAN DIEGO, CA--(MARKET WIRE)--May 1, 2006 -- Unico Incorporated (OTC BB:UNCN.OB - News), which focuses on the production of ores and precious metals in the U.S., today announced that the company's wholly owned subsidiary, Bromide Basin Mining Company, LLC, has signed a revised mining lease and option to purchase agreement with Kaibab Industries, Inc. for the Bromide Basin Mines.
ADVERTISEMENT The lease and option to purchase agreement is considered timely due to the potential of high-grade gold production at the Bromide Basin Mines in the Henry Mountain Mining District in Garfield County, Utah.
"The Bromide Basin Mine has always been viewed as an important acquisition for Unico and its shareholders, but with the price of gold topping $650 per ounce, the fact that Bromide Basin is a true 'gold play' further emphasizes its importance for Unico," said Mark A. Lopez, chief executive officer of Unico, Inc. "By extending the lease and purchase option well beyond its original expiration date, Unico now has an ideal and unique opportunity in our portfolio of properties to capitalize on skyrocketing metals prices."
The new revised mining lease runs through October 31, 2006, and grants to Bromide Basin Mining Company the option to purchase six fully permitted patented mining claims and twenty-one located mining claims comprising in all over 400 acres of Bromide Basin. The purchase option exercise price is $835,000.00 for all specified mining claims, mill sites and dumps being leased. If all terms of the agreement are met, Bromide Basin Mining Company will have the right to extend the term of the lease and option to purchase agreement for an additional year, through October 31, 2007, by giving Kaibab Industries notice by September 30, 2006. As consideration for this third revised lease agreement, the company has also agreed to pay in advance the sum of $5,000 per month and pay Kaibab Industries a five percent net smelter return upon all ore taken from the leased premises each month, to the extent that the amount for any month exceed the $5,000 monthly base rent.
The Bromide Basin Mining Company has paid to Kaibab Industries $63,591.62 for past due lease payments, taxes and mine fees on the previous mining lease agreement, which expired on November 1, 2005. The company has also paid $125,785.20 to Kaibab Industries as payment-in-full for the original equipment purchase agreement dated April 1, 2003 and promissory note for certain mining equipment associated with the original lease agreement.
"We are pleased to have another supportive business partner in Kaibab Industries, which granted Unico additional time to secure the financing necessary to maintain the Bromide Basin lease. With this lease secure, Unico will seek to initiate mining activities at this property as well as the ongoing work currently underway at the Deer Trail Mine," added Mr. Lopez.
-------------------- Bigfoot, I want to believe
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Sub Penny radio was covering this stock on the show last night/today. The host (Simon) likes the stock. It was on his list of stocks to watch this week.
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I was surfing for a mineral stock and found it about a week ago. I noticed it was at a 4 year low took a chance because the volume was high and it seemed to have support. I was told by a friend it had never been a big money maker so only time will tell. Im still in.
-------------------- Bigfoot, I want to believe
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quote:Originally posted by bfthunter: This thing is killing me. I cant get filled at .0008. Maybe thats a good thing. LOL P.S. Logical I live in Concord.
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yeah lots of buys this is good for 50% i think not to much more then that dont expect 100-200% on this one lol be happy with about 50% for this one
-------------------- please dont trade stocks on my alerts, do your dd first.
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this wants to run but hit resistance at .0012 alot of buys coming in tommorow we get a gap i think and then we get people chasing i am going to sell at .002 or so dont want to much out of this one
-------------------- please dont trade stocks on my alerts, do your dd first.
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