an underwater mak part 1, page-13

Those are definite strengths for BON in regards to underwater recovery. In this respect they have a clear advantage. However UCL only needs to be able to outsource or empley this aspect which means the question then is have they got the capacity to make the right decision on partners/new staff. I believe so.

UCL actually has an impressive board, management team and major shareholders for a company that has been through such difficulty - the prize of Mehdiabad has attracted some good people. There is no shortage of experienced personnel with wide ranging contacts. Quality of personnel is the least of my concerns with UCL.

Btw I don't see this as competition between BON and UCL. Being neighbours they will be twinned by the market and anything positive either achieve will be beneficial for the other. For example UCL is expecting a JORC compliant resource estimate before BON. If this comes out and is strong then BON will benefit. If BON in turn come out and demonstrate the effectiveness of recovery UCL will benefit too.