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UML

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3.3¢ unity mining limited

Take the money and run !, page-3

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Gymjunky

3,817 Posts.

838

07/12/15

20:46

Post #: 16564310
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Originally posted by albatrosss ↑

you sound like you have seen it before so you probably right.
It sounds like though that Bendigo will be off the books and will be getting back 5.6mil or so cash.
so no holding cost there.
I wouldn't imagine there is much holding cost at Dargues as we speak.
there is still 2.5million to be drilled to lose the 50% ownership. I don't know that you would have to spend another 15million on top of that to build reserves. I think that if they wanted to they could have already drilled fill ins to build reserve. they have chosen not to. not sure why.
I would hope that they talked to a lot of the market but I am not convinced that they have.
your point about creditors is probably valid, but I still think that there will be 20mil plus cash there by the end of this year, without Bendigo.
if you are right about the fact that no one apart from Pybar wants to buy it, it would be a sad situation for the overall market to see a project like Dargues with its geographic location be priced at a few million.
I do remember that they did have credit for about 45 million from a bank not that long ago so why could they not get some now when the situation is probably better then a few years ago. ( 15 million spent on Dargues already)
I do see your point about taking the money because there are risks as with any of the goldies and Dargues is not an easy open cut but I still think there is much more value here.
never know, someone could come and offer more as with other projects where PYBAR has made the original offer.

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when the gave us back the return to capital .05 they new what they were doing this has been set up from a long time ago, these guys need to be tried for Treason to the share holders our best chance is another bid from someone else.

UML Price at posting: 2.6¢ Sentiment: Buy Disclosure: Held
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