If a TO does eventuate I hope it is scrip and not cash as it...

If a TO does eventuate I hope it is scrip and not cash as it will just create a tax problem atm.

Nice to have cash atm, but if you are a believer in the stronger for longer super cycle then a scrip based bid from a miner makers more fundamental sense.
No doubt a suitors sp is depressed as well atm so it offers upside when the market recovers and fundamental values are applied instead of the negative sentiment that currently exists.

UMC's cost curve is likely to be in the lowest quartile and Railway is likely to contribute 5-10 Mtpa over a 10-20 year mine life.

Compared to other Pilbara juniors no-one comes close for grade and mine life expectancy on a 5-10 Mtpa DSO mining operation.

Plus, I'd bet my left nut that we will discover hidden under cover another commercial deposit across one of our other targets and probably several deposits.

Just wait and see, with 4 rigs drilling it is only a matter of time...