With Bashar Al-Assad now just being effectively a mayor of Damascus and Aleppo (he is withdrawing troops from the countryside to defend these two cities, leaving the countryside in the hands of the rebels), with only one European embassy open in Damascus (Hungary), with the Syrian embassy in Canberra closed (they've all defected?) and with Leon Panetta, the US Defence Secretary, saying Al-Assad's brutal defence of Aleppo is another nail in his coffin, what are the chances of Iranian regime surviving beyond the end of this year, with its only ally in the region almost finished?
Almost nil.
If you were one of the 87 coffee shops closed down in Teheran recently for un-Islamic behaviour and you lost your livelihood in this way, would you support the regime?
Professor Avner Cohen (University of Maryland and author of "The Worst-Kept Secret: Israel's Bargain with the Bomb")says the status quo in Iran cannot survive beyond the end of this year, yet our directors, Ross and Jordinson, think they know better despite not having written any papers on the issues relating to regime change prospects in Iran.
The savings in finance costs from acquiring the other part of Sandpiper from MAK will be wiped out by the loss in potential value on Mehdiabad being crystallised. "Savings" are only achieved by wearing blinkers and ignoring the cost of Mehdiabad dilution.
Our directors are behaving perversely and irrationally and are acting outside their competence. They need to explain themselves or resign. Just my view.
How much will the dilution be if Jordinson increases the offer: it is sure to be over 80%.
Why does Mawarid want Mehdiabad? Because they are a big mining company (compared to us) and they get on well with Iran, and I wonder if Jordinson personally from handing over Mehdiabad cheaply to Dr Al Barwani. I wouldn't be surprised if Mawarid owned the first 1% of MAK that accepted the UCL offer.
UCL Price at posting:
16.0¢ Sentiment: Hold Disclosure: Held
