spin off bauxite

post at the other place on today's australian .... is this company the entity we own .... now wouldnt that make for an interesting option for UMC holders. gets oppies ocnverted early and also indicates iron ore potential is seen as huuuuge


In today's Robin Bromby column in the Australian a footnote briefly mentions a forthcoming IPO by an outfit named "Australian Bauxite" "has significant Bauxite leases in W.A"....unable to recall any listed company that has "significant bauxite leases in W.A." other than UMC..Could they be planning to hive off bauxite interests into a separate entity????..qwith entitlements for existing shareholders?With probable Browse Basin energy source avail. in a few years would be very feasible..