The best part about UMC, this is only the beginning as they have already identified a host of other targets.
If they come out with anything around 50mln tns or above i will be delighted. As Bungy pointed out they are now looking at Phase 2 which shows how confident they are in having a mineable resource.
Then you add on top of that:
4 high priority Marra Mamba targets (Includes Jumbo Junction) A large Channel iron deposit target 7 further Marra Mamba targets 2 Brockman iron ore tagets
That can only mean alot of exciting times ahead.
Then of course down the track the Bauxite will come into play.
We have a very piddly shareprice IMO with enormous upside.
Cheers markco2
UMC Price at posting:
0.0¢ Sentiment: LT Buy Disclosure: Held