If one of the statutory duties of IMPASCO is to have an auction before the Minstry of Mines and Industry will authorise IMPASCO to transfer the exploitation licence, that would mean we would have to issue zillions of shares (diluting the hell out of ourselves) to outbid the competition. The effect of this is to remove the reward for exploration success and transfer it to the Iranian Govt. The point is we have taken an exploration risk (albeit not as big as in other countries because other countries aren't as well endowed with natural resources as Iran is?), and it has come good, and we should be paid for it (albeit less perhaps than in some other countries?). Arbitration, arbitration, arbitration!
UCL Price at posting:
0.0¢ Sentiment: Hold Disclosure: Held
