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Corporate transaction through for UMC. Share price up on news which equates to around a 2.5 million increase in THX'S holding. The actual offer is at UMC share price equivalent of $1.30 with an option which means around 6 million dollars for the THX holding! :biggrin:

 

EME announcment today also makes it interesting for these guys given where their NT land is namely right next door!!

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  • 2 weeks later...
They still have really good assets in 20% UMC, plus 40% of a nickel mine (not producing but can be quickly returned to production), so raising capital shouldn't be an issue for some time. It would be smarter to raise capital when the price is higher and there is no obstacle to that because the top 20 hold a goodly chunk of the smallish number of shares on issue. The UMC asset is tradable if they need cash. There's lots going on at THX. The CEO used to be CEO of UMC but has resigned from that to give his attention to THX. Ngalia is a good prospect and another site is just over the fence from Sandfire.
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