UMC signs groundbreaking equity/off‐take agreement with one of China’s top steel buyers China Railway Materials Commercial Corp. Group __________________________________________________________________________________ HIGHLIGHTS: • UMC agrees A$27.2M placement to China Railway Materials Commercial Corp. Group. • China Railway Materials Commercial Corp. Group is one of the top 3 steel buying groups in China. • Placement is at A$1.35 per share. • A 10‐year 3.0 million tonnes per annum off‐take agreement will be negotiated on commercial terms. • 1:10 non‐renounceable rights issue of new options to existing shareholders. Australian iron ore development company United Minerals Corporation NL (ASX
UMC Price at posting:
$1.02 Sentiment: Buy Disclosure: Held
