The reason it is up is because it is in discussions with prospective financiers for developing the Roseby Copper Project. See quarterly update here:
http://www.abnnewswire.net/press/en/60571/Universal_Resources_Limited_(ASX:URL)_Announce_Its_Quarterly_Activity_Report_Ending_31_March_2009.html
Also read Kevi's posts:
http://www.hotcopper.com.au/post_single.asp?fid=1&tid=894277&msgid=4971794
And other HC posts:
http://www.hotcopper.com.au/post_threadview.asp?fid=1&tid=894561#4049335
Not all of it is necessarily God-gospel truth but should give you the picture Roundtable.
cheers,
PA
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