Did you utter a sigh of relief like me when you read the report released last week.
The shares were in free fall with a price tag of below 80c written all over them prior to the release and although it did not slow some sellers it certainly encouraged buyer support.
My first reaction was – oh no - only Railway results again, but when you read between the lines the report has some hidden indications of hope.
The corporate update leaves a lot to our imagination with hints of possible strategies/proposal being received from 3rd parties.
It is plainly obvious now UMC have a substantial and valuable asset with the Railway deposit and with figures and estimates I have received this alone should value our shares even in this market at above the $2 mark.
What disappoints me is their statement that any assay results from Railway East, Jumbo Junction and Yandi Headwaters will not be released until the Quarterly report.
I suppose in the mean time if we hear they are starting to drill again at any of prospects they must have received some encouragement from previous holes. Keep your ear to the ground and if anyone hears anything please pass it on.
Hasn’t a lesson been learnt from last week – the public like’s news – no news does not necessarily mean good news in shareholders minds.
It begs the question. Was this report forced by shareholder pressure or is this slow release process a part of their strategies/proposals to achieve a friendly 3rd party marriage.
I suppose time will tell when they are ready to enlighten us. In the mean time I am more than happy to wait for a better exit price.
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Did you utter a sigh of relief like me when you read the report...
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