Hi Alan, Hope to see first drill results within three weeks, but...

Hi Alan,
Hope to see first drill results within three weeks, but will not be making any judgements untill mid to late october. Just read up on UMC to find out when production will start, everyone seems very positive over on that thread, some holders seem to be hoping that RIO will come to the party with a 50/50 J.V once UMC have an inferred JORC resource.
I would say that the best option they have to maximise the value of the railway ore is a gate sale deal with BHP or FMG, but at an absolute maximum delivery rate of 10mtpa The price of io in 5-10 years needs to be considered, also need to consider if Gate sale deal will still be available in a couple of years.

If UMC go it alone, and if FMS sell up after JORC, I believe that it is a case of "one in the hand is worth two in the bush."

I am sure that we will both be keeping a close eye on BHP profit ann due monday to give indication of strength of future demand from china and I wish us the best of luck.