march qtrly, page-23

From a BSM holder's point of view that's a good and fair post Jo (so good it was worth repeating!). I'm a BSM holder too, no longer on the UML team, but I might still buy a few again to keep in the game, because I feel that there is some action coming.

I totally agree that if UML are taken over by BSM, the Unity shareholders will have a very much better chance of getting a decent return on their investment, but I do believe that there would also be some benefits to BSM if they can buy UML at a fair price. The cash box would certainly be very useful towards funding the tailings project (which is likely to become a major earner as soon as it gets underway), there are probably some significant tax benefits which could be available to the company which buys out UML, and although the technical synergies between BSM's gold/silver pocessing requirements and the Henty plant are unknown, it might be that Henty could become a gold/silver processing hub for BSM. There is probably some useful plant and equipment at Kangaroo Flat which could be transported to and used at Henty.

For UML holders, a takeover by BSM, a well-managed shareholder-friendly company with a great future, would be far preferable to being acquired by a predator company interested only in stripping the cash. That's a very real possibility at the moment.