new player in umc, page-18

Hi theincorporator,

Judging by the announcement it appears fairly cut and dry as to what the placement is for.

"Placement is for additional working capital to enable the company to expand it's exploration activities, particularly
at it's Pilbara Iron Ore Project."

One of the things i really like about management, they are very forward thinkers. Remember how they have already stated that they have positioned themselves for Phase2 being the Indicated Jorc Resource to be released by the end of July including Scoping Study plus drilling at Jumbo Junction and Railway East.

Having that extra capital gives them a lot more opportunity for fast tracking as they appear to be doing.

As well, it places more pressure on "Instos" to climb on board the gravy train.

Cheers markco2