A piece here from Proactive Investors:Of course if it is good...

A piece here from Proactive Investors:

Of course if it is good news, it won't be because we will be having it diluted out of us as a result of this totally stupid offer for MAK. On balance though I think the leadership in Iran has nothing to lose by just stealing the project completely - they are going to be at war soon so what is the point of trying to please us? There are 25 countries participating in a practice mine-sweeping operation in the Strait of Hormuz. A third U.S. aircraft carrier is on its way to the Persian Gulf. Iran is boasting it is the only country that can guarantee security in the Gulf and it is talking about sending ships to patrol off the U.S. coast. They are long overdue a good smacking, and it is coming soon. All IMO. DYOR.

P.S. There is nothing worse than a leadership that revels in its selective ignorance of the outside world and that spends all its time confirming the correctness of each other's dogma. They are in for a shock soon, IMO.

Sep 5th 2012
UCL Resources in pre open pending news from Mehdiabad Zinc Project in Iran UCL Resources (ASX: UCL) has been granted a trading halt this morning from the ASX pending a material development in respect of a key asset, namely the company's investment in the Mehdiabad Zinc Project in Iran.

UCL Resources shares have been placed in pre-open.

In UCL Resources' recent quarterly the company outlined that negotiations were ongoing with the Iranian authorities to seek a mutually beneficial solution to the ownership issues relating to the Mehdiabad Project.

The Mehdiabad Project is carried on by UCL, Karoun Dez Dasht and Itok GmbH through an incorporated Iranian joint venture company, Mehdiabad Zinc Company. UCL Resources has to date invested in excess of US$16.8 million on exploration and feasibility activities relating to the project.

The halt will last until the earlier of an announcement being made to the market, or the opening of trade on Friday 7th September.