Market's view on Uru Metals
Published on April 2024
- URU’s cash and cash equivalents have significantly dropped to US$383,000, raising questions about the company’s ongoing existence and the justification of its costs, particularly maintaining its AIM listing. Suggestions were made about potentially transferring URU’s subsidiary holding in ZEB Nickel Corp to its shareholders in exchange for cancelling their shareholdings in URU.
- John Zorbas, with extensive experience in global equity markets, has been appointed as the CEO of Seed Capital Solutions Plc. He remains the CEO of URU Metals and is involved with other firms focusing on ESG, reflecting his commitment to sustainable solutions.
- URU’s stock price manipulation was noted with irregular closing trades influencing its position on the leaderboard, suggesting possible manipulation by entities with significant market access to attract attention to the stock.
- URU’s main investment, ZEB Nickel Corp, saw a substantial price increase, which might indicate upcoming positive developments or news from ZEB Nickel.
- The value of URU’s stake in ZEB Nickel Corp is significantly higher than URU’s own market cap, suggesting potential undervaluation of URU’s stock.
- Although URU resumed trading, there were concerns about its potential permanent suspension and its overall viability as a trading entity.
- URU’s involvement in ZEB Nickel Corp includes operational roles and potential board strengthening with the addition of an independent UK-based non-executive director, despite delays in financial auditing due to logistical issues caused by the pandemic.