Lawrenson writes an impressive letter. The only thing wrong with...

Lawrenson writes an impressive letter. The only thing wrong with it is that Drummond is still on the Board of MAK: Lawrenson needs a free hand to do what he wants without Drummond breathing down his neck?

As to getting a fair solution for all shareholders, I can't see how that is possible when our Board is giving away Mehdiabad for zero. I think our directors should have demerged Mehdiabad before attracting new investors. They are abusing the accounting write-off of Mehdiabad, IMO. I think that is really shocking. It is like having the face value of all the bank notes in your pocket reduced by 90%, only for the recipients to be able to then undo the reduction in some way, depriving you of what is rightfully yours.

I think the Iranian regime's hold on power is based (apart from torture and arbitrary capital punishment) on a lot of anti-Americanism. The Iranian Govt. has no choice but to either break out and build a nuclear bomb (that at least ensures the person in charge is respected by his fellow countrymen if the arbitrary hangings and torture cease to be a deterrent) or eat a lot of humble pie and agree to humiliating intrusive inspections, as demanded in the NPT's Additional Protocol?, for the right to very limited nuclear enrichment. Both courses of action must imperil the regime, and continuing with the sanctions getting ever worse is not an option either. There have been protests this last week in the region where Lake Oroumieh is and in Baluchistan about different local "hot button" issues. The value in Mediabad ought to out in our hands and not in a load MAK holders, IMV.