The company should make a takeover bid for horseshoe metals (HOR) - its got a JORC of 91,000 contained tonnes of copper and about 35,000 ounzes of gold - plus further recent discoveries are going to increase it further - its market cap is about $16 million - it sits on an old mine so start up costs shouldn't be that high - maybe $10 million - UML would still have cash left over. Much better value than ERM or MYG in my view.
IMHO
UML Price at posting:
11.5¢ Sentiment: Hold Disclosure: Held
