Good to see you are perked-up after your stay in Tassie blokes...welcome back.
I think that the next level of resistance will be set after the Scoping Studies have been finalised. The fact that Railway is ideally located and what is shaping out to be s marketable tonnage with excellent grades and low impurities, you would think that the findings will explain a variety of options available to UMC.
Location, grades, impurities and tonnage will all act as a catalysis which should see the project advance quickly. They will also act as a leverage for securing the necessary finance which is imperative for the success of the project.
For my mind, commitment is what I consider to be one of the most essential criteria for success of the project. Imho, the board has no intention of proving up a resource and flogging it off to the highest bidder. Make no mistake, the directors do want to see this project develop by UMC for UMC shareholders. The following extract from the announcement dated 22/11/2007 is a good example of where I'm coming from:
"We are passionate about the potential of our new discovery. Our exploration success provides us with a clear vision and direction for the project. The further drilling about to commence will provide us with the extra information needed to develop strategic options for the project. We are excited by the opportunities that lie ahead for all shareholders." WE PASSIONATE OUR SUCCESS VISION US EXCITED ALL SHAREHOLDERS
UMC Price at posting:
0.0¢ Sentiment: Buy Disclosure: Held
