3H,Yes it was my understanding that UMC have sufficiently high...

3H,

Yes it was my understanding that UMC have sufficiently high grade and low impurities for DSO, which is why I didn't place any importance on the lower grade or 'yellow' stuff that pagarsi was referring to. Instead just focusing on the 'red' stuff.

My feeling is that it won't permanently re-rate until we confirm a JORC or are significantly on the way to doing so. My previous guess was that it would re-rate permanently once they released a tonnage estimate, but unfortunately that doesn't seem to be the case. You would think if a JORC of 100MT is confirmed that a permanent re-rating must occur.

With regards to the disappointing close, I think that unfortunately traders and insiders plague UMC which is why we always see a big run up to announcement and then a sharp drop off soon after as the traders and insiders dump their stock for a quick buck. I have seen it consistently happen so many times that I have gone numb to the disappointment. Wouldn't be surprised to see it drop back into the 70s if no news happens for a while.

Cheers