I probably wouldn't have as negative response to Nobull's articles. It seems that the Iranians are comfortable with MZC's rights including UCL's involvement. Just consider the acceptance of our earnin to 47% and that Frank Reid is now chairman of MZC which is 50% owned by Impasco. Further the odd buys this week suggest something may have transpired which is in our favour for a change.
My thought is that this is all about the Iranians managing face and being seen to ensure that a domestic treasure is not being given away overseas. A tender process may be a legal requirement, as indeed it can be here, which is conducted in name if not reality. Like when a govt organisation advertises for a new employee here with no intention of appointing anyone other than the internal candidate. I would be confident at this point that if it's going ahead MZC, including UCL, will benefit in some way even if it's the scenario Nofish put up.
Anyway it's all speculation at this point but I'm punting on the scraps we have that we'll see some sort of announcement Monday morning to the effect that there has been a breakthrough in discussions along the lines of MZC building the plant.
UCL Price at posting:
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