UML should look for an open cut operation in Australia; or at least a shallow depth operation. Even with today's technology; there are too many problems with deep underground gold mining; which make it hard for minnows like UML to make profits from such operations.
Africa is problematic; because despite the rhetoric; there is real potential for political problems; so Africa is best left to the long odds punters.
Another perhaps sensible option for UML; is to close the company down; and to return whatever capital is left; (after paying all the bills); to the shareholders.
UML (BDG) has been meandering along for too many years; and has achieved precious little for shareholders; and the present game plan seems vague; and perhaps just a continuation of the approach; that has taken the company to its present sorry state. I understand that UML (BDG) might have good excuses; for what has happened; and might have had quite a lot of bad luck.
No offence meant to anyone by any of the above; but its how the situation looks to me.
DYOR and good luck to you all.
UML Price at posting:
12.0¢ Sentiment: None Disclosure: Held
