I think we could see 5 cents again, it really depends, maybe Andrew performs well under pressure, but I think they can increase production enough to generate each quarter 3 million from Henty, then they could get a credit line to develop their other assets. I think liongold are alright, they have helped UML and they have suffered a big loss on this stock too. They agreed to underwrite the placement and then see their placement value drop in 1/2 in a month, they are just dragging their heals in paying.
Compared to other reports, this is a good one, no bad news, some good news about new reserves and an improving position.
If you look at the chart, it really does look like the price has bottomed.
UML Price at posting:
1.4¢ Sentiment: Buy Disclosure: Held
