G'day Cevans, after getting in early on the RE story, I sold out...

G'day Cevans, after getting in early on the RE story, I sold out of Arafura (and a couple of other RE companies)last year because I became concerned about the huge cost of developing RE's, and the possibility of a bubble developing (which I think is happening). I could have done better if I'd held on longer, but that's life; if we could pick the tops and bottoms, we'd all be very rich.

I switched all my investments to gold, and gold/copper/base metals companies, and so far it's looking like a reasonably good move. I think that the next 12 - 18 months will be an absolute bonanza for gold producers, and probably for some of the metals which often occur with gold (copper, silver, and less often zinc and lead).

UML has gone through some pretty rough times, but at last I think they are on the right track, and Henty and the new adjoining tenement will finally reward the patient shareholders, not just with gold, but also with silver, copper, lead and zinc. (Have a look at our nearby neighbour BSM).

For anyone who has been a long-term holder, I think that we are now coming into the period where you will find that your patience pays off.

UML have the cash to develop the Tasmanian assets, and the Goldstone African play could be a nice little bonus for shareholders if the dominoes fall the right way.

I believe that anywhere under 20 cents is a real bargain for UML shares, and as more resources are proved up, the sp should go well north of 20c.