The UMC/BRM marriage has been talked about for at least 18 months... I've been guilty myself of dreaming of marriage between a high volume low grade deposit with a smaller volume high grade one, but I see no more reason for it to happen now than 18 months ago. WR over at BRM has never believed (rightly or wrongly) that he needs to blend his ore with anyone, and for the life of me I can't think of what advantage it would give UMC other than access to cash.
The only X factor has been UBS, and that report to me shows nothing other than lazy journalism. Not sure that the directors of either entity need to waste time responding to scuttlebutt on HC, or for that matter Business Spectator when nothing material has come to light.
UMC Price at posting:
$1.00 Sentiment: None Disclosure: Held
