upcoming drilling season, page-23

$4m will go a long way into proving up the resource in Pilbara. We will get many assay results before any capital raising is needed. By then the share price could be 80c - $1. I couldn't imagine a large raising either with $8m from Options to be received in Jul 08.

Point taken though, if there is a spp, you will need to hold the heads.

I am 100% in UMCO, bought my last parcel at 16c today.
The leverage in mind and the resource at play here, it was all just too good to refuse.

Time will tell whether it was wise