I am not sure I agree I dont mind paying taxes provided we have some progress.
Its about time URL/Altona stopped messing its shareholders around and destroying shareholder value. They have an open cut sulphide reserve of 15.5 mtns at 0.75% Cu ,0.13g/t Au at Little Eva. This could easily be treated at the Ernest Henry Mill.
An agreement on a 51%/49% JV would see Xstrata pay for their 51%, give URL sufficient funds to complete the Kylylahti Mine in Finland, and provide cash flows to drill our other resources in QLD and Finland.
The question is why cant a deal be done now?
Xstrata has deferred the EH underground mine and can use additional ore, are we so obsessed with a large Roseby project that we are going to continue to destroy Shareholder Value???
EXS (exco) who talk to Xstrata about Toll Milling have a market cap of $91M, URL has a market cap of $22M.
Its time to deliver some shareholder value not continue to the errors of the past.
Ardrock
URL Price at posting:
9.1¢ Sentiment: Hold Disclosure: Held
