UMC 0.00% $1.30 united minerals corporation nl

would you sell your house?, page-23

  1. 8,602 Posts.
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    Hi All.

    The way I look at it is.
    They are selling Railway only which has been valued at $204 million or $1.30 per share.

    They need to come out and tell us what is going to happen with the other tenements.
    If they are going to be kept and traded under a different company name, and all share holders who do not sell their shares to BHP, have a stake in that company in proportion to their holding with UMC.The shares on offer lets say are 40 million shares with App; $8 million in cash.
    UMC have done enough drilling to have a fair idea as to what the tenements prospects are.They then drill away on the most prospective/cheapest and quickest tenement to get to mining stage.

    We would have to get a new group of management to go ahead with that,and produce the past drill results.

    I have just thought of a group who would be able to do some thing with the other tenements.It has just come to me as I was typing this.
    I think I will make a phone call.
    They could already be looking at it with Asian partners.

    Regards
    Westcott.
 
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