Union Resources to move head office Friday May 12 15:49 AEST Union Resources plans to move its operational headquarters to Europe or the Middle East to boost the development of its zinc, lead and silver project in Iran.
As part of the company's Mehdiabad Zinc Project, it plans to develop one of the world's largest undeveloped resource of zinc, lead and silver, in central Iran.
Union Resources managing director Rob Murdoch says it's conducting a global search for new senior management, as it planned to move its operational headquarters overseas to be closer to the project.
"As Union Resources moves towards the development of the project the company recognises the need to build a highly experienced team capable of completing the task of building and operating a world class mine along with a zinc processing plant and industrial complex," he said.
"Union will commence to re-locate its operational headquarters to either Europe or the Middle East to ensure its proximity to the capital markets capable of financing this project."
The company said it had appointed financial advisers and was on track to commence raising funds for the project.
"This will result in the Mehdiabad Zinc Company becoming a major zinc producer with operating costs in the lowest quartile," Mr Murdoch said.
UCL Price at posting:
0.0¢ Sentiment: Buy Disclosure: Held
