UMC 0.00% $1.30 united minerals corporation nl

australian article

  1. 2,194 Posts.
    regarding the following article

    "Frenzy time?

    AS Flinders Diamonds showed last week, a bit of "nearology" does no harm. The company drew attention to the fact that its Hamersley project in the Pilbara was less than 10km from the 875 million tonne resource at Caliwingina North, owned by Rio Tinto.

    Day traders duly obliged and sent the stock up on large volumes.

    United Minerals Corp also was not hiding its Pilbara light under a bushel. It reported that visual inspection of a drill core near its Railway prospect indicated a 40m intersection of Marra Mamba iron ore, making the directors confident they could have 100 million tonnes on their hands. UMC went very dark on Pure Speculation when we suggested its announcements were getting a little ahead of themselves, so we'll refrain from any comments - for now."

    A few home truths need to be cleared up here.

    First to put UMC and FDL in the same article inferring they are similar companies with similar projects just highlights the disparity between fact and fiction, research and rudimentary comments, and Geologists and journalists.....

    One has a conceptual target of 300Mt based on nearology as he rightly pointed out, with not one rock chip produced yet.

    The other, UMC has an advanced project with over 7 klms of drilling done, confirming mineralisation in 3 seperate areas, with one of them being high grade DSO marra mamba ore....the cream of the crop of iron ore as I have previously pointed out....and the one every company would like on their tenements...

    Had Bromby bothered to read back over 3 months of reports he may have realised just how far from the truth he is and comments such as that to the INFORMED investor only serve to relegate himself into the category of gutter journalism lacking any real credibility other then headline grabbing sensationlism.......

    I guess he does not understand the difference between wet and dry RC drilling, diamond drilling, assay results, low phosphorous, low silica, low alumina, high grade DSO marra mamba iron ore, 63% Fe, scoping study, JORC resource AND the word CONCEPT.......


    Apparently they are all the same....lol

    The company being as conservative as it is would hardly state 100Mt unless they were confident of proving up such a resource....Hiding it's light under a bushel.....lol.

    Us shareholders have been waiting eons for a number and I was quite surprised to actually get one when you look at all the other figures being bandied around by other companies at the moment with far less fieldwork done..

    For now,
    he should probably keep his flapper clapper shut and wait and see where we are in 6 months time....
    I'm sure he'll like to forget over time what he printed but I won't and I'll make it a point of reminding him in 6 months time....

    Obviously he doesn't read hotcopper either.....
 
arrow-down-2 Created with Sketch. arrow-down-2 Created with Sketch.