The level of blatant ramping in this thread is incredible. UML...

The level of blatant ramping in this thread is incredible. UML is circling the drain and it would take a minor miracle for their situation to meaningfully improve. Their assets are largely worthless, unsaleable, undevelopable and unprofitable. When was the last quarter their net assets increased? IF they do manage to increase their cash balance over the next 12mths by mining down their gold resource it's just shuffling deck chairs on the Titanic imho.

And what would UML do even if they had $15mil in the bank in 12mths? It's certainly not enough to develop Dargues. I'd guess it would be frittered away on directors fees, exploration drilling and optimisation studies. Any thoughts about mining at Bendigo again is pure fantasy, that asset is a burden to maintain and has no value to the company if ore from Dargues isn't being treated there.