UMC - United Minerals Corporation

[dj_420]

well congrats to holders this one is going from strength to strength.

btw i found a table that compared iron ore juniors and their relative market caps compared to their deposits.

UMC was second lowest on 19 mt proven. goldfields reports state 119 mt pre JORC figure. when UMC start proving up this resource we will see a significant depreciation in the price per tonne this company is valued on.

i will find the table for everyone and post it up. cheers.

 

[Broadside]

and as scorpio pointed out with that table, the all-important infrastructure is right on their doorstep

 

[Broadside]

iron ore, bauxite and still a low market cap though obviously it is running today on this news



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MAJOR ANNOUNCEMENT - BAUXITE PROJECT
MOU SIGNED WITH NORSK HYDRO (A FORTUNE 500 COMPANY)
FOR A POTENTIAL BAUXITE MINE AND ALUMINA REFINERY
The Directors of United Minerals Corporation NL (UMC) advise that a Memorandum of Understanding (MOU) has been reached with Norsk Hydro’s (“Hydro”) subsidiary, Hydro Aluminium AS (“Hydro Aluminium”) to form a joint venture. Norsk Hydro is a Fortune 500 Company with market capitalisation of approximately US$41 billion. It is one of the world’s largest integrated aluminium producers and is owned 43% by the Norwegian Government.
Hydro Aluminium has established an excellent record in Australia’s aluminium industry through its smelter operations in the Hunter region of New South Wales, where it wholly owns and operates the 170,000tpa aluminium smelter at Kurri Kurri and is a joint venture partner in the Tomago smelter.
The purpose of the joint venture will be to develop an integrated bauxite mine and alumina refinery in the Kimberley region of Western Australia. The cost of such an initiative is estimated in the order of A$4 – 5 billion including associated infrastructure. Success will depend on achieving a large and reliable supply of bauxite at an acceptable grade and an equally large and reliable supply of gas at commercially viable prices.
For the last 12 months, UMC’s 100% subsidiary Bauxite Australia Pty Limited, has been exploring in areas adjacent to the Mitchell Plateau bauxite deposits. A year 1 drilling program commencing in 2006 made a successful start in identifying extensive bauxite mineralisation on the Company’s leases.
The potential for a substantial integrated bauxite mine and alumina refinery is heavily driven by forthcoming developments of gas projects which have been announced for the Browse Basin off the Kimberley coast. The WA Government has created the policy framework to ensure that sufficient reserves of gas from these projects are dedicated to onshore domestic use. The joint venture will endeavour to take advantage of this historic availability of major energy sources in the Kimberley for the first time.
1
The joint venture is subject to completion of satisfactory due diligence and formal documentation. Hydro will hold 75% of the joint venture and UMC 25%. Once bauxite and energy requirements are generally satisfied, Hydro will contribute 100% of feasibility expenditure with respect to the alumina refinery through to the conclusion of a bankable feasibility study (BFS). UMC will have the opportunity to participate in the project up to its 25% share.

 

[dj_420]

yeah UMC is looking better and better, i thought the bauxite tenements would be very valuable, and i was right.

project infrastructure estimated between 4 - 5 billion, now good to have NORSK onboard and UMC retain 25% of the project.

 

[Broadside]

This will probably get culled as a ramp but when you look at the projects this company has on the boil...bauxite, high grade iron ore next to rail infrastructure...I know this has had a big month but I think this is only the beginning. The next 12 months could be huge if they keep moving forward with each of these projects. I am certainly holding these long term until they come close to realising their potential.

 

[dj_420]

im holding this one until they prove up 500 mt of high grade direct shipping ore, are producing bauxite with their new JV partner and the market cap is well north of $1 billion dollars.

ok i will justify my rantings,

so far UMC have a pre JORC figure of 119 mt for one area of their iron ore tenements, they have also discovered a new area previously unidentified with high grade ore at surface also.

bauxite tenements recently acquire have around 40% alumina, which at current prices is very viable and obviously so as NORSKA have signed the JV with UMC.

so the two projects are both indeed company makers and now it seems UMC is proving them both up

 

[kransky]

I was appalled to see directors sell close to 1M shares this week so after seeing her start slipping i sold out and am waiting to get back in at a lower price.

 

[dj_420]

been holding since 31 cents, im not selling this one for CGT reasons, topping up on weakness.

appalled that directors sold? they still have significant holdings.

from what i have actually heard UMC has already been approached by a major for iron ore, signed JV with Norsk hydro, are about to start drilling on elephant ground, discovered new targets - jocelyn and all in the last month!

they have significantly added to shareholder value, if i held that many i would take some profits along the way also!

good luck getting in on lower price, may have just finished retracing today, will put up a chart later, but strong buying found in the mid 70's.

trying to time things like this is very hard. best way to do it is sell right into strength ie over $1 then buy on retrace, not sell when it is retracing as you can miss the bounce and pay a higher price for what you sold at.

just my opinion

 

[dj_420]

looks like its just you and me on this thread broadside!

UMC showing good increase today up around 15% on higher volume. drilling campaign to start next week ive been told, been delayed by a week or so.

first targets are fork north and jocelyn. will post chart tonight.

 

[GoYouGoodThing]

Well done to holders of this share. I bought them when they were ukd at 15.5cents. Sold a couple of weeks later at 16 cents. Kicking myself now. Enjoy the profits all

 

[dj_420]

UMC been consolidating for a few weeks now, saw a descending triangle to breakout two weeks ago, dropped back after breakout though. now starting to form again. i think an ann is needed to push this one through to next levels.

good short term downside support around 76 cents and 80 cents, been tested on a number of occasions and held.

fundamentally we have drilling program about to start, will be good to see what hits we get especially on newly discovered target "jocelyn".

 

[Broadside]

looks good dj.................

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ASX Release 18th June 2007 ASX Code: UMC
Iron Ore Project – Drilling Commences
• United Minerals Corporation NL (UMC) is pleased to announce that drilling has commenced at the Company’s Pilbara Iron Ore Project.
• Targets include areas of outcropping iron ore mineralisation at the Jocelyn, Camp Hill and Camp Hill West Prospects. Further targets include areas of hidden mineralisation associated with these areas of outcrop.
• The drill campaign is anticipated to be approximately 3-4 weeks. Full assay results will be a further 3-4 weeks. It is anticipated that results will be announced once all assays are received and compiled.
Figure 1: UMC Pilbara Iron Ore Tenements
Please direct enquiries to:
Jim Richards - Phone (08) 9481 0911 Matthew Hogan - Phone (08) 9481 0911
Chief Executive Officer Executive Director – Commercial/Corporate
BSc Hons (Geology), MAusIMM

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18th June 2007
The Manager
Companies Announcement Office
ASX Limited
Level 4
Bridge Street
SYDNEY NSW 2000
Via Electronic Lodgement
Dear Sir / Madam
PLACEMENT
United Minerals Corporation NL (UMC) is pleased to announce a placement of
4,500,000 ordinary fully paid shares @ $0.75c each.
The issue is subject to formal documentation and will be predominantly subscribed to
by Institutional Investors.
An Appendix 3B will be lodged in due course.
Yours sincerely
UNITED MINERALS CORPORATION NL
Matthew Hogan
Executive Director

 

[dj_420]

yes UMC now looking good, started drilling so we just have to sit back and watch results come from jocelyn, camp hill and camp hill west.

also good to see a placement at 75 cents. should set a nice floor IMO and coincidentally is pretty much the bottom of the retrace we had from highs of $1.10.

extra cash for drilling and some institutional investing is always good. cant wait till they start proving up some of those historical resources from goldfields original estimates.

 

[dj_420]

UMC chart looking like a double bottom formation or teacup, how long does it need to be a double bottom?

anyway trading range around 15 cents in this short term channel. has tested support line on a number of occassions and sellers have failed to see it close below it. has broken through the tope of the trading range on todays action.

IMO i would like to see $1 broken and held. although no real definitive resistance there i would think that the $1 point is a phsychological barrier more than anything. next point of resistance would be the 1.10 mark. which is the altime high.

MACD looks like it has just crossed over (or about to).

 

[dj_420]

broke through the $1 mark and $1.10 also. closing at an alltime high today actually making the high on close at $1.135.

sellers were few and far between for a great deal of the day. from here want to see sp hold the $1 mark.

 

[maxi68]

Another strong close for Friday 22 June'07 @ $1.21 Seems that its running in a strong bull run in current conditions and the coming week will see more of the same as drilling continues for the next 2 weeks or so, further results pending about 3 -4 weeks after the conclusion of drilling , as announced by the Company. We should see the price continue to rise as its been doing consistently.... there has been a big function for all UMC share holders at the panorama house at Bulli ....a couple weeks back now, for the $1target price( a lot of flaming Sambuca's were drunk that night with many burnt lips to go with the dare, over all fun had by all ) . Another function is set to be held in Broom for the $2 target price... this stock is very hot at the present and things look like getting hotter. So far its risen 0.355c since 15 June'07(6days of trade)

 

[moses]

UMC resisted the trend quite strongly today with a 23% rise; and golly goodness me, look at the after market depth queue! Only 2 real sellers left!

No news of course...

 

[juw177]

I see people only post in this thread when the SP is doing well. So whats in stall for UMC? The last 2 days have seen some big bars. A strong one followed by a weak one. 60c looks to be support.

 

[Santoro]

On 22 Aug ann stated that results from Pilbara Iron Ore project would be released once received and assessed, surely this is not too far off?

 

[dj_420]

I see people only post in this thread when the SP is doing well. So whats in stall for UMC? The last 2 days have seen some big bars. A strong one followed by a weak one. 60c looks to be support.

i have not been posting since i sold out before the last correction, got out around avg of 90 cents, original purchase at 30 cents so not too bad.

in hindsight i should have jumped back in when they were back down to 40 cents!

this company has incredible tenements, however considering the markets now this company does not match my risk profile, i pumped money back into GBG who have proven resources and JV partner.

good luck to longs