That sounds like what people said about FMG for the last 3 years.
What the share price is reflecting is the likelihood of production ocurring. Of course ... you're not aware of BHP's recent application to build 2 rail lines going direct to, and stopping inside UMC's tenements?
You're not aware of BHP's intention to double-track the Mt. Newman line to Port Hedland also?
If you know anyone who is a geologist, ask them if Microplaty iron ore is 'any good'?
Finally a question for you, if you don't mind. Since you say you will be a fervent holder one day, then please could you put up your estimate of the profit that production of 2Million tonnes per annum (transported by road) could generate?
I am already a fervent holder.
UMC - WHAT A MONSTER!!!!
UMC Price at posting:
0.0¢ Sentiment: LT Buy Disclosure: Held