No, Iran is probably only one input of many into the decision making process of when to raise capital. Other inputs might be the likely supply and demand situation for phosphate (I don't know anything about that) and whether the company has enough money to take advantage of any obvious asset purchases that could significantly reduce the upfront capital costs of Sandpiper by more than the budgeted cost (e.g. purchase of land, closer than previously planned, to the discharge point and which could be suitable for a processing plant). If it were all down to how Iran plays out, the obvious thing to do would be to wait until June 2013 (Netanyahu's deadline?) (by then there is a very high probability there won't be an Islamic Republic of Iran any more, given the resolve of the West to stop Iran acquiring nuclear bomb making know-how and given the Iranian leadership's inability to back down. Some game changing event will have to happen between now and then, and whatever it is, it could be a market cap doubler or trebler. I just hope the directors have their eye on the politics as much as on the other Sandpiper related things too, but there has never been any evidence Mr Jordinson is interested in the politics. I suppose I will just have to bite my tongue on that.
UCL Price at posting:
16.0¢ Sentiment: Hold Disclosure: Held
