Hi plainsailingI think $1.40 will be on the cheap side and...

Hi plainsailing

I think $1.40 will be on the cheap side and probably will not eventuate.

Ocean told us and I agree with that way of valueing UMC, that we have to take the $1.35 mark as a base.

Put around 40% on top of that and we get a price of around the $1.89 per share.

The options of the management will be in the money but if it is enough in the money, for their liking only time will tell.

I still hope of a bidding war as the resource is probably well worth that, especially for the majors who have their railways and tements close by.

Lets hope we get at least some of the value unlocked as UMC is really an unpolished diamond in the middle of the pilabara and worth the price accordingly.

We just need someone with the skills to get it polished, so we can sell it for the price it deserves.

And Tony did you get some shares in BTA?? I hope you did.

I also would like to say that I appreciate your input and its always a pleasure to see you posting.

good luck to all

jojo