Have these guys got a clue? What is their strategy or business plan? Mining minnow to tech wreck, then back to mining ... pity the shareholders (I wonder how much they lost on their tech losers the last couple of years ...)
Union Capital to Focus Back in the Resources Industry 31-01 1243
Union Capital Limited advises that during this year the Company will turn back the clock to 1999 and focus its future investments exclusively within the resources industry, going forward.
Union's focus in mineral resources will result in the Company offering for sale its non-resource assets in telecommunications and email technology.
Union's record in minerals resources is impressive for a small company;
(a) 2002: Successful listing of Gold Aura Limited, completed during a period when there were very few new gold listings in Eastern Australia.
(b) 2000-1 Successful exploration and pre-feasibility study at Mehdiabad Iran, culminating in the discovery of a world class silver and lead-zinc resource, at a time when there were very few new major minerals discoveries globally. This project should proceed to development in the next few years.
(c) 1996-7 The successful exploration of Fergusson Island in PNG culminating in the discovery of significant gold resources at Gameta, where new owner Gold Aura will shortly drill under the known gold resources.
(d) 1994-6 A successful gold miner in North Queensland.
Union expects the Exploitation Licence for the Mehdiabad Zinc and Silver Project in Iran (Union 32.5%) to be granted fairly soon, after which work will commence on the bankable feasibility study.
New mineral projects will be introduced as opportunity occurs.
R Murdoch MANAGING DIRECTOR
UCL Price at posting:
0.0¢ Sentiment: None Disclosure: Not Held
