UMC ASX announcement on 26/3/2009 was very good with a 129m high grade visible iron ore intersection recovered from Railway Prospect. Over the last few weeks this stock is clearly been accumulated by someone investors who like these excellent high grade iron ores. But the interesting situation could be THX who has a market capitalization of approximately $15m, just completed a rights issue for $2.7m & holds 20.4 million shares in UMC(effectively close to the MC of $15M, so the reason of the company is effectively free. These assets include the suspended Copernicus Nickel project available to restart as soon as nickel moves up & its Pine Creek Uranium in NT where Thunderball prospect intersected high grade uranium late in 2008. THX References: ASX announcements of 17/2/2009 & 26/3/2009. UMC References: Asx announcement 26/3/2009. Perhaps someone may want to post the pretty pictures for these two companies. Regards Buffett PS Please do you own research on these stocks.
