operational update from goldstone., page-47

Hi rmv, I sure hope they don't do a deal like the St. Barbara takeover of Allied, at a huge premium. The SBM share price has of course taken a dive.

UML are sitting on a cash box courtesy of the shareholders who put in their hard-earned about 5 or 6 years ago on the promise of great things at Bendigo.

Unless management can put the cash to work to earn immediate income on a good acquisition or a stake in a profitable producer, I would much prefer to see the money come back to the shareholders.

There are some very underpriced gold producers around at the moment, and a substantial stake in one of them might be good investment for UML's spare cash.

Mike