UMC - United Minerals Corporation

[dj_420]

ok now we have some news guys!!

two more tenements have been granted and gone live as of today!

this is huge news for UMC as we can now start drilling program.

E47/1429
E47/1431
E47/1432

are now all live. i will find estimates of resources after work and post up on this. so now its just a case of waiting for drilling to begin.

IMO i expect to see a large increase in UMC due to these tenements that FMG tried hard to get hands on are now been granted.

 

[dj_420]

i dont think many people are actually on this but IMO this company is now undervalued. the reasons are due to the fact that UMC have just had another two tenements granted (which means they are live and drilling program can begin).

if you look at the report here:

http://www.unitedminerals.com.au/documents/154.pdf

you will notice that the two tenements just approved are right smack bang in the middle of BHP mining area C. a substantial amount of the mineralisation runs from area C onto UMC grounds. the centre of mineralised locations fall inside UMC tenements.

previously documented estimated iron ore tonnages are shown.

Camp Hill - 19 million tonnes at 62.8% fe
Fork North - 100 million tonnes at 60% + fe

previously i think market was holding back as one tenement E47/1430 had been rejected (dead) as it fell inside national park bounds.

the importance of these last two tenements cannot be overated, the application of these tenements was contested by FMG, so we know that a large mining house tried very hard to get their hands on this area.


these tenements went live today so we should expect an ann from UMC in the next couple of days.

to get access to current tenements status go to:

http://www.doir.wa.gov.au/

and register, you can then access the tenegraph program which allows you to view all the current mining status.

this program is very good for checking on the progress of current tenements and you can often find out which ones are granted before release of ann to the market.

 

[dj_420]

ok trading channel has shown clear uptrend since announcing the pilbara acquisition and grab samples.

lately movement is towards the bottom of the trading channel. slight triangle could indicate momentum swing back uptowards top of trading channel. see movements hitting top of trading channel falling down hitting bottom and movement upwards again.

looking good technically and based on fundamentals could provide catalyst for breakout. only time will tell. so far stock has increased around 50% since pilbara ann and breakout.

downside i see bottom of trading channel around 36 cents, support at 34.5 cents. resistance is at 40 and 42 cents.

 

[dj_420]

sp touching on 40 cents now. first level of resistance. a lot of people are starting to get set on this one, ann not out yet but tenements have been granted.

i would like to see a break of the first level of resistance at 40 cents and then build some support there. IMO the next ann will help to do this.

 

[Pat]

Not too sure what to make of this, DJ any ideas?

I see new support at 35 cents, but it seems to of come out of DJ's trading channels. Still some good gains though.

MACD is on the move...down
Stochastics is not confirming a continuation of the trend either....

 

[spottygoose]

http://www.theage.com.au/news/busin...l?page=fullpage

YML part of an alliance to pressure for infrastructure access....

 

[Pat]

Not too sure what to make of this, DJ any ideas?

I see new support at 35 cents, but it seems to of come out of DJ's trading channels. Still some good gains though.

MACD is on the move...down
Stochastics is not confirming a continuation of the trend either....

Well yesterday sucked!

I guess it needs to closed at or above 35 cents to form a good base of support.

Now support is? 30 cents? But only minor support at that....

 

[spottygoose]

http://www.theage.com.au/news/busin...l?page=fullpage

YML part of an alliance to pressure for infrastructure access....

Oops that should read UMC part of an alliance ......

 

[Pat]

Seems to be holding tight in this share storm on the last day of summer!
When will these guys stick a drill into the ground?

 

[Pat]

Definate change in the trend here. Any thoughts guy's?

 

[Pat]

Well, beaten with an ugly stick!
Hope theres no more beating to come.

Down trend in an uptrend I hope!

Support at 22.5 cents.

MACD way down, not looking good.

Stochastics has been on a slow and steady decline.

Where do we go from here UMC? With some great tenements, seems to be an unwanted, unloved stock now.

 

[Pat]

So no one here like UMC?
So unloved.
Anyway some great action for these guy's, "\broke the trend" and held.
Soon these guys will be drilling and then the market will find out what they've missed.
I wonder what has caused the price to go up today?

 

[dj_420]

wow what a turnaround. i still held these guys do to tenements, eventually sentiment had to turn.

from a low of 26 cents yesterday we have touched 39 cents today. glad i held on to this one, should have topped up more at those lower levels but had no idea we would see such a turnaround!

 

[dj_420]

possible a combination of alan birchmore returning, bauxite tenements been granted, drilling on fe to start soon.

only wish i got some on lows!

 

[Pat]

I think it may settle @ 33-35 cents today, huge run, but need an ann to sustain.

 

[saltyjones]

For months this little rock star has been pulsing buy on the merits of past 1980's goldsworthy drilling : 120m tonnes (non-jorc) of Fe minimum! Right in the hub of the Pilbara action.

 

[haemitite]

For months this little rock star has been pulsing buy on the merits of past 1980's goldsworthy drilling : 120m tonnes (non-jorc) of Fe minimum! Right in the hub of the Pilbara action.

Exactly.

Non-jorc, low to moderate FE, high impurities.

The 19Mt of marra mamba at Camp Hill has some promise - its the same ore BHP mine at mining area C, but the other tenement sounds like the standrad high phos medium iron found pretty much everywhere in the Pilbara.

 

[Pat]

exactly

non-jorc, low to moderate FE, high impurities.

The 19Mt of marra mamba at Camp Hill has some promise - its the same ore BHP mine at mining area C, but the other tenement sounds like the standrad high phos medium iron found pretty much everywhere in the Pilbara.

Haemitite,

Your posts on UMC at other forums suggest you are not optimistic of the potential in the Pilbra or the Kimberly's.

Is this due to the high phos in the brockman and the small amount of marra mamba?

Any thought on the Bauxite project? Other than it's been tried before?

 

[haemitite]

Haemitite,

Your posts on UMC at other forums suggest you are not optimistic of the potential in the Pilbra or the Kimberly's.

Is this due to the high phos in the brockman and the small amount of marra mamba?

Any thought on the Bauxite project? Other than it's been tried before?

I'm not pessimistic, just not excited at the info to-date. I think the marra mamba has potential, from the grades quoted so far the brockman material sounds high phos. This may change with more info

I looked briefly at the potential of kimberly bauxite some years back when i worked in a consultancy specialising in evaluating mining projects. We gave it a first pass filter and then let it go. Again further drilling etc may change the project viability.

 

[Pat]

Hopefully Haemitite. Drilling provides the answers.

But does anyone have any explanation of the MASSIVE buy today?
$345k is a lot to invest in something highly spec... just a quick punt buy someone with $$$ to burn?