This is from a broker, no high Risk just ...High Grade Read Zone...

This is from a broker, no high Risk just ...High Grade Read Zone Approaching

Investment Highlights

Unity Mining Limited (UML) reported a net profit of $12.9m which was in line with our estimate of $12.3m (adjusted for the quarterly result). UML had a solid FY12 producing 50koz Au from its 100% owned Henty gold mine in Tasmania at a cash cost of $982/oz (inc royalty). This resulted in an operating cashflow of $21m for the year. UML is cheap on all metrics trading at an EV of $26m with $44.3m in cash. We believe that UML will have a solid FY13 as they will reach the high grade Read zone at the end of this quarter which should reduce costs. We retain our Buy rating on UML with a price target of $0.28/sh.