would you sell your house?, page-23

Hi All.

The way I look at it is.
They are selling Railway only which has been valued at $204 million or $1.30 per share.

They need to come out and tell us what is going to happen with the other tenements.
If they are going to be kept and traded under a different company name, and all share holders who do not sell their shares to BHP, have a stake in that company in proportion to their holding with UMC.The shares on offer lets say are 40 million shares with App; $8 million in cash.
UMC have done enough drilling to have a fair idea as to what the tenements prospects are.They then drill away on the most prospective/cheapest and quickest tenement to get to mining stage.

We would have to get a new group of management to go ahead with that,and produce the past drill results.

I have just thought of a group who would be able to do some thing with the other tenements.It has just come to me as I was typing this.
I think I will make a phone call.
They could already be looking at it with Asian partners.

Regards
Westcott.