UMC 0.00% $1.30 united minerals corporation nl

laughable scheme propaganda

  1. 249 Posts.
    UMC repeatedly quotes recommedation of "Independent Expert" as one factor why the scheme should proceed.

    Deloittes may as well suggest $1.00 is a good deal as the company should only be worth 10c a pop. Wake Up ! Deloittes is like a real estate agent. No Transaction. No Fee !

    Under the section "Implication If Scheme Does Not Go Through"

    They say UMC shares is likely to fall due to global commodity prices, foreign exchange and financial markets.

    Are there guys for real ? Either they think we are stupid or their agenda is so short-term that their bloody minded objective is to sell-out for a quick buck regardless.

    Why don't they write the opposite and suggests the share priced would rise instead. Anyone who tracked UMC transactions after the CRM announcement would know the SP went up albeit gradually (ONLY to be "mysteriously" sold down in a sustained pattern from more than $1 to 90c just prior to the BHP scheme announcement).

    Ask why would IOH give RIO a 6 month period to negotiate Iron Valley ? If IO prices is such as risk.

    If IO prices is so rocky, why would BHPB buys UMC which is drop in the bucket in term of their total resource base (at a hefty premium according to Deloittes).

    Maybe the UMC board should listen to Don Argus of BHPB that chinese demand for IO in the next few years will exceed IO mined in the Pilbara in it's entire history.

    Every reputable global investment banks is already factoring a 30% hike in next years bench mark IO price. If IO prices is to hit the skids, would you not expect SP in IOH, FRS, BRM and BCI to start tanking (rather than appreciating handsomely).

    The Aussie Dollar is now struggling under US 89 cents. Every commoditiy company trade in US dollars in Iron Ore, Coal, Base Metals, Precious Metals. This is not unique to UMC. If anything, as the US economy gathers pace, the AUD will crash in reverse carry trade deleveraging.

    The only reason why these guys are so keen to sell out is that the Railway deposits may just be a DUD and we all get the last laugh retrospectively in the end if the scheme succeeds with BHPB looking more stupid than what happend at Ravensthorp.

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Currently unlisted public company.

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