ripped off part 1 - camp hill west

I have sold most of my UMC stock but I still have many
unanswered questions.

Over the next week I'll be revisiting all the potential
target zones of our Pilbara tenements and posting factual
reports and let you be the judge.

BHP only want Railway, yet not one pegging application has
been submitted to the DMP! Don't you find that strange,
given the fact that under normal circumstances we would see
at least half a dozen applications by now? I believe
that the lack of applications is because others are certain
that UMC will be vesting the remainder of the tenements
into another company. Less than 25% of the original 263.8
km² has been drilled to-date, so why wouldn't someone else apply.

Like they say: One man's meat is another man's poison.
The lower grades are good for FMG, BRM and FMS
but unwanted by UMC. Seriously, how can one determine the
economic value of a mineral without first doing lab testing
on how the samples respond to beneficiation? Phosphorus is
the number one contaminant and the most difficult to
reduce, yet a review of all Marra Mamba drilling clearly
shows consistently low levels of phosphorus.

Not following up on recommendations of your predecessor is
yet more evidence of the ever mounting irresponsible
practices by the UMC board.

Jim Richards reported on 17 October 2007:

"It should be noted that the drill line from holes UI085 to
UI089 did not pick up any strong mineralisation, however,
this line was only drilled to a depth of 50 metres which
may be too shallow for this area, this line also needs
further sampling."

In addition to those 5 holes, deepening of a further 4
holes was also recommended by Jim (see table below).

Last quarterly states:

"Apart from some bedded Marra Mamba ore at Railway East,
none of the areas drilled have delivered high grade iron
results that warrant detailed follow up drilling to
determine inferred resources at this stage. It would appear
that the Railway Deposit is a unique high grade deposit
within the Company’s tenements and is the stand out
discovery based on the exploration work conducted by the Company."

If it's not high grade, I don't wanna know about it!