As outlined in our reports, we have four drill rigs operating, two at Railway and Two in exploration.
Turn around in assay results has always been a problem and has not got any better. We cannot release information without assays, but will do so when we have them. A few are coming in now from exploration, so hopefully we will be in a position by the end of the month. It frustrates us as much as you.
Sten Soderstrom has just started work with us to address development options.
When he feels we are in a position to make a meaningful statement, I am sure we will. He has advised that the Prodetheus scoping study numbers are not reliable, so we wouldn’t want to go down that route.
In the meantime, nothing has changed with the orebody, if anything it gets better but diamond drilling is slow, 15m per day instead of 150 m RC. You can work it out that progress is slow.
We have a great discovery, the Company is well financed and the current market is we believe a distortion.
So with all this activity, if anything it gets better, We have a great discovery..... and nothing further added to the Annual Report... why....
1. So if its a Major discovery, too much infomation released to the market and bang, lots co's and the chinese are running the ruler over UMC.
2. The other side no info is released looks Ok for what we have to date, only one co running the ruller over the Co, goes for the takeover.
So which one would benifit the shareholders 1 or 2....
Or have they got no news to report, no visuals, gulp, even more rock chips.....lol..
ah well have a good weekend .....
UMC Price at posting:
$1.38 Sentiment: Hold Disclosure: Held
