cheapest ev per tonne on the market, page-2

schueym99

IMHO You can calc up the UMC fiasco as follows

UMC update resources 21 Sept 09

158 mt indicated and inferred (Bedded and detrital) 58.03% Fe
100.7 mt bedded DSO 60.3% Fe Indicated

BHP offer $204 m
UMC Cash some $ 9 m

$195m divided by 158.mt = $1.234 per ton in situ

Plus the requirement to divest all other tenements ( Watch the Directors other plays for the end of this story)

You would think these Journo"s would be able to work a calculator and look past a press release!

Motsa