Hi Bungy My brokers (Bell Potter) did an onsite visit in July.For whatever reason(perhaps Im too small a fish!) the supply of info gleaned from that is a little limited.However, the "wood" from them is that tonnage is "not an issue" as its huge, and we can look to 50 to 60 million tonnes deliniated from the recent drill program.If we put a $10 per ton in ground figure on that it gives a minimum of $500 million in ground value.With less than 100 million shares on issue this should impy a market cap well in exess of 500 million and a share price north of $5 without any value being accredited to the Bauxite Project.Add the nearology of BHP and RIO, transport (rail line),Quality managment,,,hell I might buy a few more!, we are looking at a risk reward ratio Im EXTREMELY comfotable with.
have a great day!
UMC Price at posting:
0.0¢ Sentiment: Buy Disclosure: Held
