mill purchase

not formally signed the contract yet.
but it seems like URL's finally moving in the right direction. and confident about the financing.

------------------
ASX/Media Announcement
21 December 2007
ROSEBY COPPER PROJECT: MILL PURCHASE
Universal Resources Limited (Universal or the Company) is pleased to announce that it has
today signed a Letter of Intent with Como Engineers Pty Ltd (Como) for the purchase of a
grinding mill, details of which are outlined below.
Supplier: Citic Heavy Machinery Company of China.
Delivery: To the Port of Shanghai in 13 to 15 months from signing of the formal contract in
January 2008.
Mill type: 8.4MW semi autogenous grinding (SAG) mill.
Throughput: The mill is suitable for the treatment of a variety of blends of Roseby sulphide
and native copper ores at a rate in excess of 4 million tonnes per annum and
may be expanded to a throughput in excess of 8 million tonnes per annum by
the addition of a suitable ball mill. The mill provides substantial versatility for a
range of short and long term project optimisation scenarios.
Importance: The securing of this mill is of critical importance to the scale and timing of the
development of the Roseby Project and has allowed the Company to bring
forward the timing of production by 6 to 8 months from that indicated in the
Company¡¯s ASX releases of 16 November 2007 and 7 December 2007.
Program: The Company and Como, its feasibility study manager, will now move to
finalisation of the definitive feasibility study (DFS) as early as possible in the new
year. The DFS can now incorporate a realisable time-line and a throughput rate
based on the known mill capabilities.
Financing: A final decision to commit to development will be dependent upon the availability
of finance. The securing of the mill is one of a number of milestones required to
bring the DFS to the point where serious funding negotiations may be
progressed.