I did see that Brabus and it's very interesting. Lundin have a stated goal of becoming the premier mid tier zinc producer and have made a number of acquisitions over the last couple of years. I am convinced that they have bigger agenda for Mehdiabad than a 19.9% holding of UCL but are biding their time - on this basis I expect them to fully participate in capital raisings to maintain their position and keep UCL financial.
I think this is the second project they have that is marginal although the articles suggest it is coming to it's natural life anyway. In either case it looks like another chunk out of the global zinc production pipeline that probably wasn't counted on by the majority of commentators. If global demand stays steady the zinc market should turn around quicker than 2010.
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I did see that Brabus and it's very interesting. Lundin have a...
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