UMC 0.00% $1.30 united minerals corporation nl

enough is enough - support for an egm , page-17

  1. 1,739 Posts.
    HI,

    along with showman, count me out of the EGM.

    Picking up on a few comments made in this thread:

    >EGM of members to seek fresh talent by way of placing our own nominees forward.
    Who?

    >do you know what strategy they have in mind - I certainly don't
    Why not pick up the phone and ask them?


    Personally I see the Fork North move in this light:

    1. UMC may be victim to BHP stalling tactics, and drilling fork north is something to do whilst the RIO/BHP iron ore merger gets underway.

    2. Railway is high grade, but looks to be around the 100-150Mt mark. Fork North could provide some blending ore to make a meatier target. 300-400Mt would attract attention from all sorts of parties.

    I think mgmt strategy is to get more tonnage proved up to get more feet under the negotiating table.
    It was nice to see a mine plan for Railway in the presentation.
    Also would like to see Railway proved up to a measured resource status.

    Joel


 
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