moratorium on marine phos mining in namibia, page-11

Without doubt exiting Sandpiper can now be viewed as a good decision.
However we don't know if that was due to luck or an actual fear of potential environmental issues. I suspect this potential threat was just one of many reasons why Cliff off loaded Sandpiper.
I expect ex-UCL holders are equally relieved. I do feel for Mawarid who have invested a lot of money in under water exploration related activities but at the end of the day, without that $25M, MAK would be trading at 1 cent or less based on this news with no hope of raising money or surviving the downturn in the resource sector.
I wonder how much money the Namibian government took from BON/MAK/UCL/Marwaid before they decided to pull the plug. Another African project with issues.
Perhaps Australia isn't such a bad place to develop a mining project after all.

Thank goodness Drummond never succeeded in taking over UCL! (But we do have to give him credit for hooking up with JDC).

Thanks for posting Brett.