Hi Johnrap and all, I also recall being thanked by the...

Hi Johnrap and all,

I also recall being thanked by the management team for being a large shareholder; tragically, it did little good so I caution you not to be seduced by people reliant on your money for their generous salaries and work conditions. Please remember these same people are responsible for considerable losses of shareholder value. Back in 2010 this share was trading over $0.20 if that kind of record floats your boat you are clearly going against the thoughts of the market.

http://www.google.com/finance?q=ASX:UML&ei=OYWjVdmYCtXQU-nwuMgF

With respect I will play the part of devil’s advocate in order help you understand why the market values this company as it does.

Bendigo has been for sale for a very long time with no interest whatsoever from the industry it may have no value and may even cost the company money to remove and clean up the site.

Henty is a one stope mine that may or may not have an extended life in my opinion it has been badly mined and managed in the past; hopefully the new blood can improve that.

If Dargues is ever developed it may one day have some value if not the $20 M spent on the road and site so far to date then it will turn out to be little more than a tax loss. On might question the wisdom of the management spending shareholder money on this project with the full knowledge that they could never use the chemicals required on site to process the ore! Also in the face of so much local opposition to the mine ever being developed. The minute a little rain water washed some mud into a local stream the tree huggers where out in large numbers. Very basic stumbling blocks in my opinion.

The Goldstone adventure was a classic Andrew Mc. Inverse Midas touch whatever he touches turns to: well you know what.

Whilst I would have every right to the Sour Grapes claim this is not why I am posting here. I just don’t like the idea of very poor management being awarded accolades not deserved.

I believe the new people on board will squeeze a little more value out of this share and recent share purchasers will do well. If you can turn a 100% profit from this I suggest you take it and run.

If you are looking for a Gold mining ten bagger I suggest you look elsewhere as there are many other companies with competent management genuinely working for shareholder value!

I commend your positive outlook and I wish you and all other shareholders the very best of luck; however, I implore you to do your own full and due diligence there is lots of historical reading to do especially in regard to the local resistance to the Dargues project ever proceeding.

http://www.canberratimes.com.au/act...rifying-for-local-shires-20141114-11mwqv.html

http://www.batemansbaypost.com.au/story/2721216/mine-opposition-mounts/

http://www.braidwoodtimes.com.au/st...n-to-on-site-processing-by-darques-gold-mine/


Cheers and very best regards: Andy