chakay,i agree.the report was absolutely fantastic.incredible...

chakay,

i agree.

the report was absolutely fantastic.
incredible even.

but the fantastic news of hole UI314 aside, it didnt really tell us anything we didnt already know, or should have known.

lets break it down:

high grade intercept - this was new and very very welcome news.

drilling update - they have 4 rigs drilling 4 targets. we knew this. added bonus of telling us the number of holes drilled.

scoping study update - sten is busy reviewing the scoping studies. we knew this.

corporate update - we are sitting on an incredible find, and now we need to work out how to get it out of the ground to get all u shareholders lots n lots of money. oh, and its confidential, so shhhhhhh. we knew this too.

so, amazing intercept and number of holes drilled aside, the report pretty much re-iterates what was mentioned in the "going forward" part of the july jorc announcement.

now i am DEFINITELY not downplaying the report at all. i loved it. i think iv read it 50 times. it just reads so good.

im simply pointng out that we were extremely news starved and we lapped it all up.

this highlights 2 things.
1)management should send us these more often, but only if they're warranted. we know they are working their asses off, so no need for weekly newsletters and interviews.
2)if it has been a while since an announcement, just relax and know that these guys always fail at failing us!!

an investment in UMC is an investment in the boards ability to develop that resource. its the old preferred 1st class management 2nd class resource scenario...

only UMC has it with a twist.
we have a 1st class management with a 1st class resource.