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[Seeker 2000]

Hi,

habe da folgende brandneue Info zu UCL an Land gezogen:

Placement
Document date: Tue 07 Mar 2000 Released time: Tue 07 Mar 2000 15:01:17
Document No: 133259 Document part: A
Market Flag: Y
Classification: Placement

--------------------------------------------------------------------------------
UNION CAPITAL LIMITED 2000-03-07 ASX-SIGNAL-G

HOMEX - Brisbane

+++++++++++++++++++++++++
Union Capital Limited announces that it has agreed to a share
placement issue of 32.2 million ordinary shares in the capital of the
Company at 38 cents per share to Findlay and Co Stockbrokers Ltd,
Barton Capital Securities and Investa AG of Switzerland, to raise in
total $12,236,000. This placement will settle on 15th March 2000,
consequent upon shareholder approval of recent previous placements.

The issue was initiated from a recent visit to Iran by a party of
Australian Stockbrokers to view Union`s mineral investments such as
the Mehdiabad Zinc Project and its copper/gold exploration
activities. They were very enthusiastic about Union`s Mehdiabad Zinc
Project and the political reforms taking place that are encouraging
foreign investment in Iran. The brokers also felt that Union`s North
East Iran Copper Exploration Areas represented extremely attractive
exploration targets and for activity there to be "fast tracked".

Therefore, whilst Union emphasises that a large proportion of the
funds raised will be directed to additional technology investments, a
proportion of the funds raised will be used in Iran for both the
feasibility study of the Mehdiabad Zinc Project and in accelerating
exploration in the NE Iran Copper Project.

Whilst the company has focused attention on its technology
investments and the "world class" Mehdiabad Project during recent
times (and will continue to do so), it has been slowly progressing
exploration in the highly prospective NE Iran Copper Belt. The area
is considered to be highly prospective for massive copper/gold
porphyry systems and is close to probably the world`s largest copper
deposit in Afghanistan. Union has a long term view that investor
interest will ultimately return to mineral exploration activities.
The success of the raising shows that this view now has wide support.

In North Eastern Iran, Union is in Joint Venture with an Iranian
Company "ESKCO" to explore for mineral deposits over an area of 9000
square kilometres. Under the terms of the Joint Venture Agreement
Union will spend the first $US 1 million in the area to earn a 50%
interest at which point ESKCO can either contribute equally or elect
not to contribute and dilute its interest.

The first phase of exploration in the area was completed in 1999.
From this work three separate areas of major advanced argillic
altered lithocaps have been identified. In each of these, both
silicic and phyllic alteration together with copper and gold
anomalism have been identified, strongly indicating the possibility
that porphyry style copper-gold mineralisation is developed at
shallow depth.

In view of this potential the exploration program will be accelerated
to enable initial drill targets to be selected and tested by the end
of 2000. Investigations of these and other areas of interest are
planned for commencement in late March.

Also, as a result of the placement, Union is actively seeking
additional Information Technology Investments.


The information in this Report is based on, and accurately reflects,
information complied by Mr R B Murdoch and Mr Ken Chapple who are
Corporate Members of The Australasian Institute of Mining and
Metallurgy. Mr Murdoch is the Managing Director of Union Capital
Limited and Mr Chapple is the Project Evaluation Manager. Both Mr
Murdoch and Mr Chapple have the relevant experience in relation to
the mineralisation being reported upon to qualify as Competent
Persons as defined in the Australasian Code for Reporting of
Identified Mineral Resources and Ore Reserves.


R Murdoch
MANAGING DIRECTOR




cu
Seeker 2000

[vogelfrei]

Ne Frage!
Wer Jetzt noch UCL kauft, bekommt auch noch Ident. Aktien bevorzugt?
V.

[siebensiegel]

NACHRICHT 3 TAGE ALT UND MEHRFACH GEPOSTET!

[nixblicker]

Wäre doch jammerschade für Supermaster wenn hier jemand in jeden UCL-Thread der nicht von ihm ist nur ganz kurz was reinpostet. Dann steht seiner nähmlich in der Übersicht ganz hinten wo er auch hingehört...



nixblicker

[Zaratustra]

und wieder einen platz nach hinten!