I'm not sure that Iranian investors are running from this project, the right of UCL to acquire a majority stake has always been part of the deal and UCL are making sure they are in a position to exercise that right. I somehow doubt that UCL are looking for a new Iraniain partner in the venture - surely the value that could be added by experienced and cashed up mining houses such as Lundin and Xstrata is far more attractive to them.
The Iranian govt will remain a substantial stakeholder in the project - will they ever have an interest in expropriation of the mine? I'm not sure they would have a market for the zinc if they did decide to do so - it may be a self defeatist move.
If you have a concern about this then I'm sure Rob Murdoch would be happy to address it directly - either you can post a question on the UCL website or give him a call direct - he's very approachable.
Cheers Zinc
UCL Price at posting:
0.0¢ Sentiment: None Disclosure: Not Held
