re: zinc up again but when will ucl go up
MHK, plenty of people interested in UCL as evidenced by the volume surge last week on the copper intercept announcement so a rerating is possible. I think though it will be dependant on one of three types of announcements: i. certainty re security of Iran. Some change to the international political dynamic which gives peace of mind about Iran's sovereignty ii. announcement re clear direction going forward, particularly a path that leads to earlier mining which is clearly a very strong chance of coming to fruition - this would do it even without issue i. because there will be buyers for the output as there is for Iranian oil iii. a takeover event. This is a possibility given the presence of Lundin Mining with 20% stake already, 2 board positions and a stated desire to be the number 1 producer in their sector. They have plenty on their plate but control of Mehdiabad would deliver significant gains to them. (Note control of M would be relatively easy - let UCL get to a majority position then takeover).
Trading flurries like last week are nice to see but I'm not placing any store in them yet.
UCL Price at posting:
0.0¢ Sentiment: Buy Disclosure: Held
