I am not totally sure if we can blame management for being in the middle of the pilbara with a first class proven up resource , surrounded by railway lines which we are not allowed to use.
We as shareholders always knew , or should have known that getting the ore to the market would be a challenge.
Mangement proved up a very substancial resource to date with a very high FE and low inpurities, these qualities are now attracting a predator.
I also would have liked to see this company going towards full value but realise that after the credit crunch things have changed.
And let me tell you that I am not happy about it, but I also know the reality of the markets and the uncertanty can be just eating shareholders away.
For now we just have to wait as none of us know what the end scenario is going to be.
We could still be walking away with a smile on our face, as the fun has not even started yet.
good luck
jojo
UMC Price at posting:
91.0¢ Sentiment: LT Buy Disclosure: Held
