Thanks defabstar/seals,After further reading I get the...

Thanks defabstar/seals,

After further reading I get the impression that a positive signoff on the BFS alone will not have all that much impact on the SP.

The real acid test is going to be financing the project.

This will give investors their answer on whether or not the current intl climate will permit the establishment of such a capital intensive investment in Iran.

Being able to raise US$1.645 Billion in start-up costs for a project in Iran, given the current tension-filled climate will give everyone their answer IMO.

The ability to raise this sort of money from Institutions (who carry a much lower risk tolerance than your average trader) should be good enough reason for any potential trader that this project will get up and running.

If it is good enough for Insto's... it would be more than good enough for you or I IMO.

I guess the flip side is that Institutions could happily sit on the sidelines for another year or two until the current tensions blow over and the risk is less, which would just add more time to the project start date... and add another year or two to an investors expected ROI.

Still, the deposit itself seems unquestionable in quality, so it certainly does seem just a matter of time and timing before it is mined.

Certainly a min 2 year play it seems, but current prices are as close to the "beginning" or "bottom" of the potential upside, so a good time to get involved.

I have also reduced my holdings in MTN defabstar. Although the deposit is there, I feel that there are just too many other issues about mining U in Australia, let alone Mt Gee and it's own potential environmental issues.
I am now more involved in AEX, and looking at OMC, as U plays in Africa seem to have a fraction of the red tape issues that the new Ozzie U plays have inherited.

UCL looks good, but as you all state, is definately a 2-4 year play.
In that time though, if Zn prices remain buoyant, there is no reason why UCL can't replicate OXR's steady progress.

Cheers for your posts,

MisterMoon