any done the maths on spp price?, page-5

Yes Nutwood your post makes sense.

No doubt the Directors are good and smart people; but as mentioned before; they don't seem to be running this company with clear and specified profit objectives.

The Directors are dealing with mining engineering challenges; and they may well be making the best decisions possible ; to deal with these challenges.

But as previously mentioned; it would be great to see an annual money plan for the next 12 months to 5 years; showing the objective of paying a dividend to shareholders each year; starting with the year ending the 30th June 2014.

The engineering and technology tail seems to be wagging the UML money dog; and whilst it can be just as bad when the bean counters have too much say in running a business; there seems to be a need in the case of UML ; for giving the bean counters much more say; in order to get the business focused on what it really exists for ; which is to make profits asap for its shareholders. Its not much good digging up 100,000 ounces of gold per year; if no profits are being made.

About the present very low share price; even without the much overdue; clearly defined "profit and future annual dividend and profit plan/strategy"; if the gold price sky rockets soon?; (no one knows what the gold price will do in the future?) then UML might get snapped cheaply up by a major operator; because its got the mining engineering right. However; if UML can document a sensible future annual profit and dividend plan; the UML share price would probably rise substantially; and hence the patient and long suffering shareholders; will not eventually find that their patience was worth nothing; due to their company being plucked from them; just when all the engineering issues were sorted and when UML was (at last!); about to make some decent profits.

Good luck to you all.