very quiet , page-40

Cheers Vivonne

I'm confident that in time UMC will prove up in excess of 300Mt so I suppose that makes me bullish on the tonnage.

On the other hand I tend to be conservative with the value added per ton. Taking into account the anticipated increase for 2008 I like to use $5.

Based on full dilution this is what I get:

300,000,000 x 5 = 1.5b

1.5b / 150m = $10 share price
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mm55mm

"I have had advice from the company that they will definitely be available before AGM (as expected!!)"

That is exactly the response I expected to hear from UMC. I spoke to Jim R on the day we learnt of his decision to retire and I did not even bother asking when will we expect to see the results.

Let me say this, the results should be out closer to today than the 1st Nov.