who will sell or hold for better offer, page-35

I think there is a good chance that the $1.40 price has been leaked by BHP just to help lower the expectations of shareholders. The value of UMC to BHP needs to recognise the strategic importance to them of keeping all other parties,(chinese, FMG, etc) away from what is a substantial part of there operation. The deposit itself with no additional infrastructure costs, and the benefits that BHP alone would get from mining the strip between the BHP and UMC deposits, surely would add value from BHP's view. We are discussing the worth to UMC holders but I think the value and benefits that BHP would get from aquiring UMC would be substantial and that should be reflected in any offer. We need to ensure that we are not manipulated by some big company's propaganda machine ... these guys are masters at it !

We already have $1.35 price from the chinese and without someone playing games behind the scene this is where the price would be.