Good post Ohyeah.
"our weakness now is not management.
it will be these loose hands who just want out, not realising that if umc and its shareholders dig their heels in, bhp will pay thru the nose to keep the chinese out."
However here is something to think about though.
Why is it that in the 3 years since UMC came back with those rock chips samples in October 2006,
NOT ONCE, NOT ONCE have they embarked on a broker or institutional roadshow within Australia to promote UMC within the wider investment community?
Can somebody answer that?
Sure they went to Hong Kong. Couple of holidays in Europe.
But any major substantial holders they managed to convince to come on board have since up anted and simply just walked away. JUST WALKED AWAY!
Some at substantial losses too I might add.
And this is the best new high grade deposit discovered of this size in 20 years?
JUST WALKED AWAY...
WHY? why, why ,why?
Why is it that the best proven iron ore ground in Australia amongst the two major mining giants can not attract one single insto on board or broker recommendation?
(excluding Euroz briefly and Hogan and partners which doesn't really count)
Why, why, why?
Here's a theory.
Had they done this and brought in solid cornerstone investors to support, promote and cover the stock the reality is that the chinese placement would have been done over $2.
The share price would have been over $2.
And this is the good bit...the really good bit.
BHP would have been offering closer to $3 and everyone here would have been a hell of a lot happier, even those that bought at $2.68 and might still be hanging in there.
Why, why, why?
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