WA, just quickly going back through some of your posts, seems an...

WA, just quickly going back through some of your posts, seems an indication to me something not right....


Your posts....

Having a substantial part of my Superannuation fund invested in UMC I would like to direct to Matt Hogan via this public forum the following questions.
1. Has there been any results from the drilling and or Geologist onsite logging of core samples at Jumbo Junction that would warrant a view that this prospect shows any encouraging signs that would indicate that further drilling will enhance its prospects.
2. If so, what are these signs.
3. Has any preliminary assay results or Geologist on site observations been received that would identify the type of Iron Ore geology that may or may not exist.
4. Have there been any results from the drilling and or Geologist onsite logging of core samples at any other sites that would warrant a view that the prospect shows any encouraging signs that would indicate that further drilling will enhance its prospects.
5. Has any preliminary assay results or Geologist on site observations been received that would identify the type of Iron Ore geology that may or may not exist.

Very simple questions that would only need a very simple answer. But very important to me and any other share holder who is contemplating selling their shares.

Take a note of the date these questions were asked against any future announcements.







At what price do they push down to before they make a bid.

You cant tell me if you were a Director of this Company with all the positive previous outlooks that you would not have spread some good news into the market to stop the downward pressure.

Which leads my devious mind further into the conviction that a raider is close.

What price downwards before a move, the magic number in my mind is a $1, then they can make a bid at say $1.50 and get a swag of shares before negotiating a deal from THX to get control.

Something is defintely wrong with the figures on this company with the released reserves on Railway alone it is way low of capitalision.

Very interesting and will wait to see which way the play goes.


The question is who is the beneficial owner of these shares?

I don't think anyone has found out just yet, but I reiterate my post last week that there was a move to put down pressure to under $1, then swoop in with a bid of around $1.50.

Fellow long term holders I still stand by my remarks that this company is worth at least $3. If a bid comes have a big long hard think before you accept.

The days ahead will be interesting.



Will it be bumpy or smooth?

Has anyone other than me been wondering what has happened to our share price these past weeks? To me the fall from just under $2 to a low of around 90 cents was bewildering.

Of course the main factor was the turmoil on the world markets, and a lot of people have been concerned about short selling but I am not sure this was a major factor in our case.

One contributing issue in my mind was the disclosure by THX that they would consider selling their stake at a price. By this it was conceived that this price was around the $3 plus mark. From that time the price steadily deteriorated. Why?

Was it a deliberate maneuver to try and get the THX camp to re think the value of their holding, or was it aimed to lower the price so that a raider might accumulate enough shares to be able to couple with THX stake and grab control.

In the mean time, the board has continued with the exploration targets of Railway, Yandi headwaters and Jumbo Junction. But alas no news whatsoever is filtering out on the progress of these targets. This also begs the question of why no news, when previously if they had visual signs in the drill core a report was quick to be passed on. Can we assume they have found nothing, or ask the question if that have found something why nothing has been said?

I am not naive enough not realise that companies would like assay reports before any major announcements, but when the stock is in free fall, and obviously now it is discovered some big buyer of the stock during this time, that a progress report may have influenced shareholders not succumb to sell.

Who is the mystery buyer of over 8%? You would assume that apart from accumulating some of this holding on the market they must have also acquired some from an existing holder. I think you can safely presuppose it is not THX owing to their expectations of a higher price.

All that said we will all watch with interest what unfolds in the next couple of weeks. My curiosity will centre on;

Who is the new holder of over 8%.. Where did these shares come from?
Are they aligned with any board members?
What are their intentions?
How is the exploration program progressing?