Rich08, you may be right re: FMG given they double pegged the...

Rich08,
you may be right re: FMG given they double pegged the same UMC Fe tenements 5 or so months after DFD Rhodes did back in 2004. Everyone can check this on DOIR website. If FMG wanted the ground be sure that they still might want it. But in saying this, I think this should be discounted to NIL given everyone has seen what FDL has done when it mentions FMG in the same sentence as 56% 380mt of Fe!! Never expect this.

Wonderfunk,
IMO, spin off of Bauxite Australia to list as its own company wont happen until after BFS. If UMC are getting majority of costs free carried until BFS by Norsk, then why would the company spin it off to raise money by way of IPO or priority entitlement, when the oppie conversion + cash in bank now – exploration expenditure over the last two months would survive the company until easily late 2009 early 2010 for both Fe and Bauxite? This is why I think it is 2 years too early to consider a BA spin-off, unless there is a threat looming and you wish to protect this asset. I have also checked ASIC website and no Form 205 has been lodged to arrange for the company to change to a Public (Ltd) company.
http://www.search.asic.gov.au/cgi-bin/gns030c

Also Wonderfunk, in relation to your question about what happens to oppies in a t/o, the oppies are purchased by the purchaser for the price per share less conversion price ie 20c in UMC’s case.

IMO, t/o is a strong word to be throwing around now BUT its at back of my mind. I don’t think it’s a coincidence that Matt and the boys are changing the terms of the oppies via a GM. Matt is a very very smart man and very smart from a corporate perspective. We have all seen this over the last 2 MONTHS since he has taken the helm from Jim Richards. Results have been on time as well as 2 weeks early, reports are released in a manner that the lay person could understand and there has been consistent drilling planned ie Dec, late Jan and then 20km’s in April. Cannot fault one bit (well done boys, I know you read these posts). I think Rich08 stated it perfectly when he said, where there is smoke there is fire.

I have my own theories and will keep them to myself while doing my own research. But I do remember reading about a person who stated “they were looking at companies in the Pilbara” in the paper. Draw your own conspiracy theories from that.

my 2c worth for those interested