I tend to think in terms of market cap rather than sp. The...

I tend to think in terms of market cap rather than sp. The questions is: Do you think the company is worth more or less than $42 million?

imho UML is one of the most undervalued companies on the ASX. The most recent broker report (27 March 2013) valued them at 25 cents per share - $180 million market cap. Other reports have similar valuations.

http://www.unitymining.com.au/wp-content/uploads/2013/04/UML_27MAR13.pdf

Personally I value it more conservatively and think ~$120 million is a fair price (17c/share) In the current climate for gold miners we'll be waiting a while to see 17c, but if you can value the company correctly the sp will eventually follow.