The reason that they haven't given tonnage is that they dont...

The reason that they haven't given tonnage is that they dont know.

Sure they have put a few holes in the ground and there is iron there (surprise surprise, this is the Pilbara, it is everywhere, if you have ever been there you would know)

It takes holes that are a lot closer spaced.

JORC is not a figure that is arrive at over night (ok hands up how many know what JORC means?)

The drill comments from before amused me, "buy a drilling company" well that just doesn't happen in reality, sure there may be a drilling company for sale but, if you want to hang a picture at home, you go to Bunnings and buy a drill, put up your picture and all is good, if you then want to drill a bore in the backyard do you think that you can use the same drill?

It is the same in the resource drilling, different rigs for different jobs, some one said use the rig for UMC then rent it to BHP/RIO, well they use much smaller rigs for the production side of things and I can assure you that they need no help in securing rigs

It would seem that a lot of people read a company profile and fall in love (A Big Mistake). I am not saying that UMC is a bad place to park your money, I don't hold and never have. I am not trying to upramp or down ramp this share, I have quite often looked at buying, based on volume and price as I am a shorter term holder but if you don't know what makes things work in the mining industry, teach yourself, there is a load on the net.

Only trying to help ;)