Can anyone tell me if the discoveries last quarter at Darwin South (9.3m @ 22.6 and 3m at 32.9m - see bottom of page 2 of the activity report) are already included in the reserves/resources.
These grades appear quite promising and I am surprised that a bigger deal wasn't made of them if they are extensions of an existing known ore reserves.
Also on top of page 3 of the activity report there were some solid gold discoveries in the Mid Darwin zone. Are these just infils or further gold finds over and above the existing reserves/resources.
I hope the CEO sits on the cash at the moment and doesn't blow it on undeveloped resources other than Goldstone/Henty - I'm back into Unity because it is both a producer and an explorer with a share price very close to cash backing/gold. For this reason I can sleep at night with Europe being like it is.
If they can punch out 5 million cash each quarter after their existing exploration (stated as being $10 million this year) - thats $20 million a year or 4 cents a share - with the share price at 12 cents that represents a 33% return which is good enough for me.
UML Price at posting:
12.5¢ Sentiment: LT Buy Disclosure: Held
