march qtrly, page-21

As a BSM shareholder I wouldn't be happy diluting my equity with UMLshares purchased at 3.5:1BSM - just going on information in this thread.
Henty could maybe hit a nice little lode to provide some upside to such a takeover and The Henty mine is adjacent to a copper/gold prospective BSM EL.

BSM $ could well be best spent fulilling its current plans with Fossey and proceeding to complete the DFS on the Hellyer tails. The other highly prospective ELs they hold are also committed to with a solid drilling programmesin themedium term.

Should however, management decide to take over UML I expect it would be under the same prudence and strategy that the BSM board and MD Rosenstreich have shown to date.
On that account I would feel happier.

If it was up to me I'd play hardball like BDG did with BCD then subsequently MAK and recently the BCD mine contractor.
In those cases the bids were at massive discounts to asset values and market prices.
BSM hs plenty to get on with and would do well to sticking to its current knitting moving toward ....superprofits------Dont for god's sake repeat that to Julia!

Whatever transpires I wish all fair dinkum share holders a chance of regaining your capital losses.
Certainly if UML shareholders get some of the potential action at BSM they will get shovel loads of upside IMO.


It gets tiresome just how many badly run companies (in many cases run by he same bandits) manage to squeeze the little fella with poor communication and too clever deals by half,and provide value to only themselves, thumbing their noses at ASIC.

Not suggesting that has been the case with UML.
Cheers Dears.