What you have got to like about these guys is that they still have a stack of cash, about $18m. THat sought of $ will get you alot of drill holes, BFS and maybe even the small capex for the first mine. Now you would think that some of the news to flow should be very good so in my view this is a no brainer. Is the world going to stop needing coal and coking coal in the next 10 years?? If anything the nuclear accident will increase the use of thermal coal. I even heard on a news programme recently that germany is looking back to coal to replace it's nuclear plants going off line. Now all that South Africa has to do now is not screw with the mining industry like some other governments we know of.. In my view and I'm no expert on Mining in SA, but comparing coal companies at the moment in Aussie vs SA, with a MRRT and soon Carbon tax on aussie coal companies surely SA really that bad other than some of the labour issue.
Very good volume at the end today. I wander whether it was some tax loss sellers racing to get back in after banking a loss. It's happen to me before, booked a loss on something waited for it to drop a little more to get back in and then it quickly jumps back up.
UNV Price at posting:
30.5¢ Sentiment: Buy Disclosure: Held
