UML (ASX) what is going to happen?

Originally posted by albatrosss ↑

emanon

I can see where you are coming from. money can go quickly.
in all aspects though, there is nothing at Dargues so I cant see it sucking too much money out.
if they finalise Bendigo then they will get 1million cash to spend straight away.
I am disappointed at the timing and the way they have gone about finalising it. if one is too cynical then one could say that it is designed not to be finalised quickly. ( Christmas, time of submission etc.)
As I have said before, I think date of finalisation will be extended yet again. leaving everyone wondering in the unknown. there is maybe the possibility that deal wont go thru and that would be bad. even though UML will really be getting only 100,000 AUD for the actual plant machinery and licences. ( plant cost 80 million to build!!!!!!) mindboggling.
Lets say it all gets done, then only Henty running costs while in care and maintenance. lots of other stuff inc insurance , office cost, wages of left employees , 1600 per day managing director etc
lets say 0.5-0.75mil per month if they take care and don't splash. so I recon they should still have around 15-17 million min in early april. I am sure PYBAR wont want cash wasted between now and then.
However, it can go quickly if they don't take care of course.
I still find it hard to believe that UML will be sold at such a bargain basement price. but it will probably go thru.

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Looking at disclosures since 2013-14 in particular this company has not come clean often - smells like there is more downside than upside potentially in the medium term. They nearly went broke in 2014 cash got down to sub $8M and probably much lower while henty producing. Only last 12 months with no development work (reinvestment at henty) have they produced cash and butchered the Dargues permitting approach. Lesson learned ! mining companies with Collins Street addresses who are not ASX top 50 are delusional and should be avoided at all cost.
What would a new bidder do with this company - I'd rather 2.9cents cash than 2.9c+ in some other junior company "toilet paper" if they are not fully funded themselves. UML assets are too small for bigger players and to big for junior pretenders with no cash flow - maybe right assets but wrong time (market conditions) -