Thanks Seals and Nofish for your upbeat thoughts. Yes, the Zoroshan (spelling?) Gold Processing Plant seems to have been contracted out to the private sector (I posted a photo of the Head of IMPASCO, Dr. Mohamadee shaking hands with the Iranian company chief who signed the contract to build the plant, with Ahmad Harati Nik looking on in the background). It seems like if other companies can do business with IMPASCO in this manner then maybe we can? In the case of the gold plant, I believe the ore is the refractory type that requires Western technology (Bio-oxidation?) and the origninal tender for the plant stipulated that any Iranian company would have to have a Western partner (to acquire the technology?).
On general background matters, real interest rates are negative in Iran (Inflation over 20% and Ahmadinejad has ordered that the interest rate be dropped to between 10% and 12% - against the wishes of the Central Bank Governor). The Interior minister has been sacked today, and unemployment/underemployment remains very high. Recall also the Economics minister was sacked because he said the economic policies (of Ahmadinejad) were unscientific. The current Central Bank Governor is the second one Ahmadinejad has appointed, and my bet is he won't last long either. The one thing that does seem certain though is that Mehdiabad is not going to sit on the back burner. Something will happen shortly. Hopefully then a reasonable announcement from the company soon. Yes, I forgot Dr Reid is Chairman of MZC. That might just make all the difference. Regards.
UCL Price at posting:
0.0¢ Sentiment: Hold Disclosure: Held
