noitced received, page-49

At the end of the day you either believe the stronger for longer scenario that BHP reiterated today or you don't..

If you don't then sell out and stick your money in the bank!

If you do well treat this as it should be....a long term INVESTMENT!!!!!!!

As for assumptions the whole world going forward starting from tomorrow is based on assumptions in one way or another.
For me it is safe to assume we are not going back to the dark ages and that more then half of China's 1.2B people are wanting to have a better standard of living and that the PRC will endeavour to satisfy this desire.
And India and half of Asia also.

Given the state of the market it makes good economic sense to try and team up with a major (it always has) ESPECIALLY if the margins are still SIGNIFICANT (which they are).

The fact that they have been approached and have approached third parties one can conclude that they are probably talking to BHP...RIO...FMG????

Further reinforced by Randall on the board of both UMC and IOH who struck a MGS arrangement with RIO just recently.

If they can strike an arrangement with one of these that is likely to increase the NPV in the order of 10-20 times (less allowing for dilution I know) then I am more then satisfied with this arrangement.

Remembering not so long ago we were talking of valuations of $7.50-$15.00...which are what these npv's are implying.

The risk is reduced to the company and what the market perceives as risk is reduced also being in bed with a major.

Bear in mind also that the majors are still likely to be forced to allow rail access anyway whether they want to or not and given the proximity to the major's infrastructure it makes far more commercial sense to strike up a deal with them.

That said I still believe we are a takeover target but MGX is likely to fall before we do at present.
Hell, FMG could have a crack at us especially if we can prove up further discoveries which I believe are a given.

200-300 million tonnes and FMG would love to be mining in this part of the Pilbara especially if Twiggy can use BHP and RIO railways to do it.

Sure it's going to take perhaps 12 months longer but who really cares if at the end of the day the ultimate goal is achieved.
Originally UMC were hoping to have PFS completed by year end so it looks like that might get put back 6 months.

One can hope that at the very least the current government won't hinder development progress as much as the former Carpenter govt did.
The Browse Basin Inpex deal should never have ever gone to the NT in the first place....Sabotage from within that is.

If someone can point me in the direction of a better placed iron ore junior hoping to get product to market please do and I will have a serious look at them.

Out of all the juniors out there UMC stands the best chance of making it due to the size and quality of it's product and it's close proximity to infrastructure.

These two key points alone will ensure Railway is mined, it's just a question now of who will ultimately mine it with or without UMC..