As predictied the JV ann comes out and no response, therefore implying it was already factored into the sp. The upside of this is that it should, and I say should now cement the sp floor - I mean would norsk really waste this much time with a micro?
The key frustration here is with the mgt, agreed we have come a long way in 12 months but even with the excellent assets that UMC has the value can only be extracted through solid mgt - and it does not instil confidence when lesser quality fe plays are surpassing
Krusier, we already have Rio connections in the form of Mal Randal, not that he has contibuted other than collecting cheap shares, and he wasn't highly rated at rio either - perhaps the best outcome for us would be a scrip t/o and hopefully the bidder have better mgt than a group of quasi board/share traders
The behind the scenes share trading is shameful and only cements the 'wild west' reputation, but until mgt, either curretn or new start to focus on vaule creation we are all just along for the ride
At the AGM, it was indicated that 2008 will be the year so let us wait and see, the patient holders will be rewarded, day traders will not fair so well and may wish to look elsewhere - i hear vector resources will be a cracker, not that i got any!
UMC Price at posting:
0.0¢ Sentiment: Buy Disclosure: Held
