JORC is a resource definiton...People like us take an educated...

JORC is a resource definiton...

People like us take an educated punt on a stock like UMC at say 25 to 40 cents based on its location...the probability of finding economic iron ore is high....

Then UMC makes some discoveries like it has and defines a resource target...

Then, if all goes well, it drills enough holes to be able to define an resource in actual tonnage, which serves the basis for economic feasibility...

if the tonnage is good, consistent, economic, then the large institutional investors and stock market sheep begin to buy...

so we are all hoping that in July, UMC will announce the market it has defined 100MT to 150M tonnes of iron ore...