imo, UCL can only tag along for the ride, passively, with Mehdiabad
as for Mehdiabad, imo, best to sell it or seek compensation for the expenditures
the 2007 feasibility had low OPEX (20c/lb) but very high CAPEX ($1.6b for 200ktpa output)
today, this would probably be 25 to 30c/lb opex & $2B+ CAPEX
do the numbers & at current 83c/lb zinc, the payback is very poor
as for Sandpiper, the Saudis bought MAK's share for the equivalent of 25 cents per UCL share so i took a position at 14 cents this week which seems like a good deal
UCL major shareholders on the register, including the Saudis, look very appealing for a bottom drawer investment
imo, UCL can only tag along for the ride, passively, with...
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