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mminion

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Nice JORC numbers for the Railway Prospect! I note also that there is a hint at the possibility of a sales agreement with either BHP ior RIO ... similar to IOH's agreement announced last week. This means early cashflow and not too much expense before the money starts to roll in. Very good indeed. Then of course there are their other prospects. It's encouraging to think that they will not need to worry about raising funds ... cashflow is a marvellous thing in times like these. Not that I think there is any problem in finding a home for Marra Mamba DSO ... if one don't buy it, another one surely will. http://www.sharescene.com/html/emoticons/biggrin.gif

R/Di

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In reply to: diana on Monday 28/07/08 11:32am

 

 

yep great announcement .. economic modelling should put some hard figures in play for the doubters ... THX languishing now .... that should run soon also. They will have the whip hand is anyone of those hungry IO giants wants to swallow umc.

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In reply to: dylan on Monday 28/07/08 10:48am

It's beginning to look like people are running the numbers on UMC. The JORC compliant inferred resource of 110 million tonnes (just for starters with heaps more potential) is excellent and makes for good economic sense, especially with the prospect of a deal with Rio or one of the other Pilbara neighbours. If we take the 110 mt and ascribe an inground value of say $10/t then it makes UMC shares worth $7.42/share fully diluted. Now if we look forward to an upgrade in the Railway prospect Resource plus the drill results being favourable in the Jumbo prospect (drilling currently underway) I wonder what the true value might be. IMHO, UMC has got to be a real bargain still. Oh well ... time will tell I guess. http://www.sharescene.com/html/emoticons/cool.gif

R/Di

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