perhaps there was some sort of sandwich play going on to control the range that shares were sold/concentrate the action while someone clears out more? Perhaps we will see a further change of interest from one of the directors?
nevertheless that's all speculation for the short term isn't it? more interesting is your rumour safari of lundin being on site. it's not unreasonable to do so of course - they have a sizeable and protected stake in the company and two directors on the board. however, as we have heard, with their existing output weakening by the year, I find it very difficult to imagine that they will not seek to have a much larger exposure. Will they be satisified with the opportunity a capital raising will afford? will they want to buy the project from UCL? will the try to takeover the company?
i saw commentary somewhere saying that Iran is looking at setting up a Euro based (vs US$ based) oil bourse. This would be highly significant to European nations and any other countries that are overexposed to the US$ which is depreciating. I would expect that will see further increase in ties with Europe which would suit UCL as it is Europe and the Middle East that is most likely to put the value into the share price.
UCL Price at posting:
0.0¢ Sentiment: Buy Disclosure: Held
