didnt people read very far, page-36

pagarsi,

you mention:
"...something it is selling, such as a share in the company, an inground resource, or the company as a whole"

this is my take on it on a lazy sat long weekend arvo...

selling an inground resource:
i dont think UMC would sell Railway.
it's their flagship resource.
they may find other resources of high tonnage, but it's been mentioned in here in the past that they prob wont be of the same quality.
of course we wont know this until we drill em, assay em and JORC em, but im sure we all quietly hope that we have a suite of Railway type resources.
Railway is a resource that sets UMC apart from the other iron ore juniors at the moment...which is why the SP belting has been so hard to accept these last few months.

selling the company as a whole:
possible, but unlikely.
given that Railway alone is a company maker why would the management want to sell themselves short at even a $6 offer when they can see multiples of that in a fully producing UMC.
remember, they have only started drilling 3 of a dozen prospective targets. the chances of them all being duds are slim to none.
and as someone mentioned in here yesterday, they wouldnt keep drilling some 90 holes at yandi, JJ & RE if there was nothing there.

selling a share in the company:
this is the most possible scenario in my opinion.
we still dont know the intentions of that elusive citigroup holding.
most of the discussion on here was around T/O, but it could also be a friendly stake.
from their announcement, and maybe im just seeing what i want to see, but i dont see anything untoward in their mention of offers from 3rd parties.
as ocean equities report (courtesy of theseawolf) states they believe Railway fulfils the needs of cashed up asian steel makers.
who knows, maybe we're gonna get a railway line for xmas...

one things for sure: 117m at 63% including 30m at 67.05% can't hurt any of those ongoing negotiations.

bring on the qtrly...