i can understand some animosity towards this stock by ex-umc holders but what started as a short term flutter for me has sparked my longer term interest after running the ruler over their financials
$3M in the bank at end of last quarter, if we assume that all the options will be exercised (as highest ex price is $1 safe bet at the moment) there will be another $10M coming in the door up to June 2013
with that $13M funding and resultant 53M shares on issue at current prices a market cap of $100M seems cheap for the propects vmc has
add the bonus of the chinese sole funding $8M of exploration at Yalgoo and i think i will sit on this one for a while rather than take the quick profit
cheers
t
VMC Price at posting:
$1.88 Sentiment: LT Buy Disclosure: Held
