It must be very confusing for holders of this company in regard to what is happening; are the new team just a bunch of carpet baggers stripping out anything of value from UML or is this still a mining company.
If they do intend to continue to push along with the exploitation of the Majors Creek Gold find they clearly will need to raise funds to do so! This being the case I really don’t understand them shedding funds at this time.
“But Unity Mining chief executive Andrew McIlwain dismissed the report as emotive, and criticised the report author for not even visiting the Majors Creek site.”
I agree mining could still take place with treatment off site at of course an additional cost. The company is also under pressure to clean up the Bendigo sites and even a cub reporter from the Braidwood Times talking to the 128 Bendigo petitioners could put the final nail in the coffin.
Commenting as a onetime large shareholder in this company I now believe Andrew and his motley crew have reached the conclusion that they are incapable of operating a successful Gold mining company. The new blood shareholders are hanging on to the current board in order to have someone to blame as they strip out the bones of any value and pillage the company.
I guess time will tell.
Taking an operating gold mine with 10-14 gpt grades from the penthouse to the outhouse takes a particular set of skills and Andrew has these skills in spades.
Anyway good luck to current followers your money invested here is probably as safe as houses or bricks and mortar as they say and we know these things never fall over!
