theseawolf,Thanks for an excellent insightful post on UMC.Two...

theseawolf,

Thanks for an excellent insightful post on UMC.

Two points i would like to add.

I cannot see UMC not having a (MGS or other) deal in place before the year is out.

In the Jorc announcement considering they made reference to the IOH deal as well as being in talks with other companies, it comes down to who wants it first and at what price are they prepared to pay before another entrant enters the stage.
It would be a different matter if we were talking about a small deposit and average grade. That is where i think we hold the aces and of course Location! Location! Location!

The other point i wanted to make. Even though at this early stage the focus is on I/O and not the Bauxite, at some stage in the not to distant future UMC are going to have to inject big funds into the project with Norsk Hydro. Therefore i would expect UMC to have a number of deals in place and in production by then. UMC did say that they were looking at late next year early 2010 to commence I/O production. How realistic that is i don't know.

Overall, i can't see better value elsewhere and more than happy for the longterm. This type of company is what builds up SMSF if you are prepared to be patient. Thats something i have had to learn to acquire.

Cheers markco2