Bei Stockhouse hat wieder jemand was zu dem Artikel in der Financial Review gepostet. Er hat den vollen Artikel reingestellt.
Hier genießt es - am besten langsam lesen - so richtig in vollen Zügen genießen ...
gpoobar (ID#: 303277)
UCL article from weekend AFR
28/5/01 8:49:56 PM
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Union`s lucky strike in Iran wins shareholders` thanks 26/05/01
AFR News - 26.05.01 08:27
Bruce Hextall
Last year, it was the new economy driving Brisbane-based Union Capital - getting involved in four separate information
technology business. The minerals explorer-cum-technology company`s share price jumped to 60¢ before tumbling to 1¢ after
the tech bubble burst.
Now it`s the old economy exploration business that h is restoring shareholder value.
Union`s share price doubled this week to 6¢ before finishing on Friday at 4.3¢, driven by impressive assay results from its 25
per cent-owned Mehdiabed zinc project in central Iran - not a country too familiar to the market.
The share price began to take off the week before when Union reported that a drill hole 200 metres south of the previously
drilled area had encountered 221 metres of mineralisation, including 139m at 8.9 per cent zinc.
This added more form to what was already considered one of the world`s largest undeveloped zinc deposits.
During the week, the company reported a 154m intersect, including 77m of zinc oxide grading 3 per cent from a depth of
100m from a second hole.
The report sparked solid trade in the stock as the Union boss, Rob Murdoch, talked positively about the prospect of moving to
development. That will be an expensive task, but Union hopes to stay in the game by spinning its interest in the Mehdiabed
project off through an initial public offering which could see up to $6 million raised.
Murdoch is hopeful that before the IPO, Union would have secured up to 43 per cent of the project, gaining the extra interest
from its Iranian partners through expenditure commitments.
He then hopes to attract a major mining group as a joint- venture partner.
The market view is that the development of the project is beyond the capacity of the current interest holders, making it
essential to attract a major player as a joint-venture partner. The market talk, still to be confirmed, is that Union has held
serious talks with BHP Billiton.
"It`s the type of project Billiton could find attractive. It is used to working in countries such as Iran and could go for it," one
stockbroker analyst told NL, adding that if it did, Union`s share price could soar past the highs reached when it took the
high-tech road.