You're obviously new to this stock so I suggest you do a bit of reading up on UCL to see what you have got in to. I really don't think the announcement had anything to do with the recent price spike, however I can almost guarantee there will be another one or two announcements just like it in the near future - there's no doubting that there is an absolute shite load of high grade resource in place.
What the sp is reflecting is the global interest from major multinationals who want in on the Iran project. We are talking here about a project with an NPV of say A$2bn of which UCL will own up to 65%. Lundin took a stake a few weeks back and there are bigger names courting UCL right now as I type, the biggest names in the industry!
Disappointing??? I don't think so, from 3c a month or so back the sp is now 11c. Sure its come off yesterday's highs. Had to happen after such a run and there is a technical resistance point around 12.5c if I recall from a few years back.
If you bought at 13 yesterday then tuck them away in your bottom drawer for few weeks or even months. Trust me, it will be good for you.
Cheers Zinc
UCL Price at posting:
0.0¢ Sentiment: None Disclosure: Not Held
