I'm not sure of the likelihood but looking to the future, I would really like UNV to buy into the Makhado project with MC Mining (formally CZA who had that failed takeover attempt a few years ago). Makhado is not that far away from the Berenice area and potentially could open up the whole of that area (including MCM's GSP area) to development.
MCM need financing and according to their quarterly are reviewing options to fund the remaining capex (around $35m after the loan MCM have). I believe UNV will be able to raise that cash fairly easily through debt and would make sense to add another developing mine to the portfolio and the first move into coking coal (first coal sales expected next year).
MCM have 69.5% and being how close the 2 mining areas are would make sense to consolidate together IMO. I'd be happy to buy into and front the capex for a fairly sizeable share of the ownership. Can look to bring them into Berenice / Cygnus too if that helps to grease the wheels a bit. Having both mining areas operating should bring the operational costs down somewhat as I would expect some significant synergies from facility sharing between the 2 areas.
UNV Price at posting:
24.0¢ Sentiment: Buy Disclosure: Held