twenty million tonnes of high grade iron ore, page-59

Hi wonderblat,

if you take over a company you take it all over.
If I buy your house, I can't decide not to buy the kitchen.

With a takeover bid you buy all the shares in a company. Then you will own the company and all its assets.
One of UMC's assets is its 100% shareholding in Bauxite Australia.

It would be impossible for an outside company to launch a takeover bid for just UMC's iron ore assets.

It is possible that a company could purchase one a future UMC iron ore reserve for a cash payment.

Another possibility is that UMC board spin off Bauxite Australia.

However, since the company has neither a JORC iron ore resource, nor an agreement from the WA Govmt to build a bauxite refinery, I think that it may be a while before any of these events happen.

Joel