re: Ann: UCL:1.Takeover bid for Minemakers 2.... "UCL...

re: Ann: UCL:1.Takeover bid for Minemakers 2.... "UCL shareholders (on HC) think that they have valuable assets other than Sandpiper, this is likely to scuttle any deal."

It is not what I think that counts (I am only a small shareholder in UCL). The directors have decided UCL's other asset (the Iranian zinc mine) is only worth $1m (it is in the latest UCL presentation that is presumably designed to win you over). It makes me sick to think they spent $18m on that and that they took exploration risk and that they are not even claiming a discovery fee commensurate with the exploration risk taken. (If one out of every two drills for a zinc mine results in the discovery of technically and economically feasible zinc mine, then the discovery fee perhaps should be 100% of the drill expenditure??

I don't think you need to worry about UCL's share price being artificially puffed up by the bid. There is no mystery, IMV, about why MB Holding paid a premium to the market price (Other UCL shareholders consider that an achievement: I don't). MB Holdings being given a stake in the largest undeveloped zinc mine in the world for nothing is a grotesquely expensive incentive, IMV, in lost upside. Having fought off Drummond from laying his hands on Mehdiabad, the idea of UCL directors giving it away of course makes me sick. Whether you should be put off accepting the UCL offer perhaps should depend on how much they value Wonarah, not on the $1m Mehdiabad valuation. Just my view. Of course I hope you don't take up the offer. I patiently await regime collapse in Iran. You made a good call there lifting your MAK stake 600%!