tuesdays announcement- upgrade in resources, page-15

re: banker - top20 ucl market cap is extremely low considering the massive resource they have of a 40 years + mine operation. Rob Murdoch has been progressing the project with the BFS to be finalised in the not too distant future. Over the last few years everything that management stated has been followed through. Knowing that about 80% of the stock is held by top 20 shareholders which are mainly from overseas gives me the confidence to hold even though I expected a re-rating to have occurred by now. This is probably related to the location of the project being in Iran which would deter many investors because of the fear factor. My gut feel is that the stock is being kept down until such time as the full story is unveilled and then one way or another a re-rating will occur.