Seals, hi Yes, I agree with you about the danger of extending the life of the regime by attacking it, but I also see that without a credible threat of force there is absolutely no way Khamenei is going to back down. I find it hard to believe Western leaders are going to put up with Persian Empire Mark 2 in which Iran conducts relations with the outside world in the same way it deals with its dissidents. Below is how they are reporting it in the USA...
I think it unfortunate Iran has got a lot of attention for threatening to wipe Israel/the zionist regime off the map. That alone gives Israel a strong casus belli. Do Ross and Jordinson know that?
The takeover of MAK will be very value destructive for UCL. I suspect our directors are presenting a picture of the squeezed part of a balloon to represent smaller finance costs from taking over MAK while hiding the other enlarged part of the balloon where the air has gone and that represents the crystallisation of the $18m accounting impairement on Mehdiabad) to justify the MAK takeover. The fact our directors are not going into detail about why Sandpiper is easier to finance with two shareholders instead of three only adds to my suspicions. Now is not the time to dilute us out Mehdiabad (it is very nice for them: they retain control of Mehdiabad so get the justification for a good salary while depriving us of Mehdiabad before the inevitable change of regime in Iran occurs in the coming months).
Directors acting outside their circles of competence. Directors acting in their interests instead of shareholders. Both violate Buffet's investment criteria. All IMO. DYOR.
There are no free lunches in corporate finance: if you want to save on finance costs by amalgamating with another company, then you must suffer dilution costs to effect the amalgamation? A bit like Hess's law in chemistry: you can't get an energy saving by making a compound via a different pathway?
UCL Price at posting:
14.0¢ Sentiment: Hold Disclosure: Held
