conservative valuations

Seals,
your valuation of the Mehediabad mine to UCL seems very conservative. you have used $1500 for the zinc price when it is upward of $2700.
The way that affects your figures is like this $1500 -$800 mining costs =$700 pt and 38% to Ucl =$266pt profit.
Or $2700-$800 = $1900 pt and 38% to UCL = $722 pt

Therefore an 80% increase in the price of zinc which is already here leads to an increase in profit of 170%

How does that affect your price estimates?
Also how would it go if UCL are able to get up to 65% of the venture as per your previous post?