egg on face, page-21

Hi Westcott

I sort of agree and I'm sure it will happen one day.

BUT

Rome wasn't built in a day.

UMC has to get the production going first. And I think managements focus in the last few months was getting the stuff as fast as possible out of the ground hence the silence. Considered there's $9.6M cash available I think that is smart. I'm sure approvals, studies and so for to get permission to start up the mine will costs a lot of cash.

Drilling isn't cheap either...

And we should not forget the GFC and the impact on investments of all kind that had.
UMC shareholders should be very satisfied with management getting an equity/off-take agreement with CRM

CRM’s major business is to provide all materials for the transportation and construction of the railway system, including rails, diesel oil, wheels, wheel hubs, machinery and electronic equipments, locomotive and rolling stock spare parts, steels, cement, and woods.

Appointed by the Ministry of Railways, CRM is the supplier of rails for China’s railway overhauling, maintenance, and construction, and provides quality monitoring and after sales service.
(this is not peanuts)

and that's where i'm getting back to the point... focus!

produce cash with what you have and focus on the best outcome for future assets later but with a lot better knowledge (hopefully) for running a successful (more hope.. very profitable) IO producer of high quality products...