iron ore story

I have been ringing around trying to find out how UKD acquired the Iron Ore claims in such a prominent postion.

So: this is what I have been told, not necessary the true fact but it may put a light on some rumours.

Rhodes the Vendor apparently is well known the Iron Ore game and as previous well known holders and claim holders..

As the story goes, a well known previous Labour Govt member ( is name had been mentioned) in WA with a group has had a option over this area to put together a new IPO.

With previous extenstions to the option and a final date was last Friday. The group through a Broker (mentioned in the release) did a deal with UKD if the option was not exercised, I have heard the UKD boys were up all night hoping the option was not exersised. Rhodes got 5 million shares $200,000 in cash plus 1.5% royalties.

So this story if true validates the purchase by UKD. The vendors got a back door listing without any problems into a company with more blue sky than just a IPO Iron Ore prospect.

As a holder of UKD great news, the talk is this is a valid and very rewarding acquistion. As I said in a previous post a couple days ago, this is the last you will see this share at 17 cents.. Today 21 cents.

Watch for some big players now with an eye on UKD, they have some huge Bauxite areas, a positive new diamond targets and the Iron Ore which in my mind is better than CAZ chances.

Take a punt..