Hi (ACB)
I think when the price is so low people have their doubts about UMC being viable.
When it is higher they feel their is more going for it with more confidence,brings more buyers at a higher price.
The Chinese/Hong Kong company who have taken a stake in BRM are looking to invest more into mining companies.
They have an Australian on their board of Directors.
They have raised HK$99.1 million through a placing agent.
The money was to be available on or before the 23rd June 2009.
The announcement came yesterday 23rd June of being a substantial holder in BRM.
They have been buying since February 2009 in BRM.
The HK$99.1 million I assume is still to be spent.
I have posted some information on them on the BRM thread.
BRM have 24 interested parties from Asia.
If UMC have not been to Asia they need to if nothing is coming from Europe or The Gulf States.
Regards
Westcott.
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