i cant see a spin off company happening for the remaining assets. these guys just dont seem interested in progressing any assets. and to be honest , i wouldnt want any part of it even if they were.
for what its worth: i will vote no to the bhp offer. i will support any action which proposes the completion of the crm deal. i will support any action that see's this board overthrown. i will support any action which sees this farce investigated.
i am fortunate enuff to be in the money even with this ridiculous offer. i can only imagine how those who have lost on this are feeling.
there is no reason to be crystalising anything. neither gains nor losses. the ball is still in play.
the board should keep drilling, proving up reserves for all types of ores and progressing to the production of Railway deposit. with that cashflow and with CRM's continued involvement the other targets could then be exploited.
am i missing sumthing or have i over simplified it??
there was an article posted on the EXT thread today by Gero. below is an excerpt. the similarities to the UMC story are startling. all except for management that is!!
what price to have these guys at UMC right now??
"In light of the high quality of Extract Resources's Rossing South uranium project in Namibia - adjoining Rio Tinto's Rossing mine - there is obviously plenty of corporate interest in the $2.4 billion company.
However, Extract has made clear that while it is interested in strategic partnerships to help develop the $US704 million ($768 million) mine, which could produce 6800 tonnes of uranium a year, it is not looking to be taken over."
UMC Price at posting:
$1.27 Sentiment: LT Buy Disclosure: Held
