gate sales with rio would be ideal, page-4

Pagarsi

Junior players in the Pilbara need to get their priorities right and the highest priority for UMC atm is to create a revenue stream in the shortest possible timeframe, with as minimum dilution as possible.

The most efficient way for UMC to achieve this is gate sales to a major. The revenue stream generated will allow UMC to look at other options with respect to its lower grade reserves. e.g. setting up beneficiation and blending plants and building (or sharing in) its own spur line.

I see where you're coming from, but with early and sufficient revenue injection, UMC will be in a position to gradually build up its portfolio of commercial grade ore and address future transport needs.