UML 0.00% 3.3¢ unity mining limited

I have followed junior mining stocks for over 20 years. The...

  1. 111 Posts.
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    I have followed junior mining stocks for over 20 years. The market gets it right more times that wrong.
    BOK was called the best silver / gold play - did the numbers myself and got out because it was dead man walking !
    CVG was the best near term gold producer that just vanished one day !
    UML is exact position !! 12 months from now !!
    ** owns 3 assets with high holding costs and none of them producing gold anymore and won't for at least 15 months so the $20M cash (if it is that much) will vanish - remember junior companies report cash but don't have to report trade creditors owed that get paid 5 minutes after the quarterly is released. WHY DID THE BOARD NOT BUY ANOTHER CASH PRODUCING ASSET 12 MONTHS AGO WHEN THEY HAD $30M+ to avoid this !
    ** They already sold 50% of Henty to pybar via JV and that asset looks like it needs another $15M+ spent on exploration to find production and not more "good hits".
    ** chasing cyanide at Dargues cost them 15 months time wasted, made lots of enemies and sprayed lots of cash up against the wall!. - DUMB
    If the Board has done the ring around and anyone has been able to look under the bonnet ! why has nobody offered any higher - BECAUSE THEY NEED MILLIONS OF DOLLARS to be raised in the next 12 months to explore Henty and Develop Dargues - Debt lenders to junior co's are vultures and screw shareholders just ask BOK!
    ** If you have the choice of getting paid cash / getting screwed by debt funds / or getting diluted "blown up" by companies doing placements at discounts and leaving retail shareholders behind ! I know what I will take
    Name a junior Co that has a world class Board and I will invest tomorrow 95% of Directors are pure cr@p
    take the money and run - I am long in UML at prices that I will never see again under any scenario over the next few years so happy to save the brokerage ! Poorly managed Company over that past 2 years that has itself to blame
 
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Currently unlisted public company.

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