Murchison Holding up more than 10% in the last 2 days....(that increase in capitalisation is more than the total worth of UMC).........MMX now worth $550 million.
They are road freighting 1.5mtpa some 360 kms to the Geraldton port. Still years away....and $2 billion - from any rail or deep water port facility to increase exports, to justify current company worth.
MMX has 75 mt of proven iron ore deposit. They say alot more reserves exist within their tenements.......already $20 million spent on exploration for the 75 mt. Not too sure where all the extra iron ore will come from.
Anyway point is....UMC at one tenth the size of MMX with existing insfracture in place in the central Pilbara.....and maybe much more than MMX current 75 mt.
UMC Price at posting:
0.0¢ Sentiment: Buy Disclosure: Not Held
