management integrity nonexistent

I'm not so sure whether it is an issue the management (and for that matter the largest shareholders) are spineless or not.

They are getting a 1000% return on their original investments (from doing nothing other than drilling a few holes).

Although, had they sat on it for another 6 months, maybe UMC would be worth $1.70 or more(simply by doing nothing). The problem is that UMC signed with the Chinese. This is what forced BHP's into acting immediately.

BHPB may have even told UMC to kiss the thought of using their railroads goodbye (regardless of what the result of the court hearing is concerning opeining up haulage).