sp in 60c holy moly. wish that was my average price!
UMC is viabily now the only other non-currently-producing IO that has a good chance of reaching production
comparing it to FMS is way off base.
FMS is still at the stage we they are lucky to hit 10m-20m of iron ore once or twice. UMC has PROVEN they are sitting on a deposit that is likely to be a 10-20Mtpa life span.
That is an asset with Nippon Steel, ArcelorMittal, JFE, Evraz would DROOOOL over. Do people really think that these guys are gonna take their eyes off the prize? These companies are looking to buy assets for 20yr time windows not 'the time it takes to production'. Hey i'm wasting my breath here I know.
60c is an amazing buy in price considering where UMC is at.
No they are not FMG and they are not even AGO right now.
But they are a looooooooong way ahead of the next pack.
ouch, page-26
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