half yearly results

UMC

Half Yearly results reported HY Losses of $2.5m !!! as follows ::

Impairments of Mining Tenements - $1.975m
Directors' Remunerations - $208k
Exploration Expenses - $201k
Administration Expenses - $169k

You don't need to be a rocket scientist to understand the above losses.

First of all, for the Impairments of Mining Tenements - $1.975m, we should get MKY to take legal action against AB to return all considerations (shares/cash) previously paid for the so-called bonanza grades of U tenements + damages.

Secondly, Directors (if they have any conscious), to reduce from hereon their Director fee as they are not doing anything

Thirdly, as an exploration company, only work done was for $201k whilst directors' fee + Admin cost totalled $377k - shareholders are paying more to these jokers for doing dud deals !!!

How come Admin cost is so high at $169k - have MKY been paying AB's AEC Group for the admin expenses & rentals - need answers - perhaps, you (UMC) can get answers from your buddy (SM)

So, are you all now convince to liquidate MKY and get your 1c back before it's too late

AngelofAngels