Today I took a bite at UML.....Lets do some assessments... Henty...

Today I took a bite at UML.....Lets do some assessments...

Henty produced 10414oz at $886oz for jan and feb.... they assuming same for march....

(Cash costs (including royalties) over the same period are estimated at $886/oz, compared with an average realised gold price of $1576/oz.)

so 15000oz say at $970oz ASIC instead of $886oz and average realised POG of $1520oz = $550 margin

15000oz X $550 = 8.25mil for the quarter

they had 12.3mil odd cash in hand + 8.25mil for quarter = approx 20.5mil cash on hand

20.5mil + 9.5mil enviro bonds = 30mil in cash

So we have market capital 9 mil with approx 30mil in cash.... all other assets free

extend mine life, we may see this sailing to 5c in no time...

Seems like a safe bet....DYOR