broome update, page-39

Well Sav,

You are not close at all.

We are talking about DSO.

High grade Direct Shipping Ore where it has a JorC Resource.
We are not talking about a potential DSO.

These are facts.

Maybe Boutique to some and yes high grade is getting harder to find especially in large tonnage. But not in UMC country.

"Railway's initial resource gives UMC the largest high grade DSO deposit held outside of the majors in the Pilbara,"

Did you read that Sav?

That puts us in 4th spot.

Ocean Equities Quote:

http://www.minesite.com/fileadmin/content/pdfs/Brokers_Notes_Aug_08/WeeklyReviewOceanEquities28.08.08.pdf

"We believe UMC's maiden resource differentiates it from its peers in terms of tonnage and grade. Railway's initial resource gives UMC the largest high grade DSO deposit held outside of the majors in the Pilbara, a region which currently produces 35% of the World's seaborne iron ore.

This size provides the flexibility to develop the project on a scale which would warrant production of at least 5mtpa to 10mtpa."

Just a couple of things to keep in mind.

UMC chose not to join the the NWIO Alliance.

They did however have firm discussions with Port Headland Authority and have registered its firm interest in 10 million tonnes per annum of the port capacity which will be part of the inner harbour.

The other interesting fact is UMC have been in discussions with major iron ore producers with regard to access to rail infrastructure in conjunction with the release of the economic evaluation studies.


Cheers markco2