Wal King, page-88

Hi pikapika, China can't any longer hide behind "private" Hanlong to wage a war of attrition on SDL when we were a China-Only captive without the full complement of approvals, permits or conventions and partners for offtake, debt arranging and Mota-Engil all ready to go.

China wasted the Africans 1.5 years with the Hanlong bid, insider trading. ASIC probe / FIRB freeze, NDRC resonable price stick-up, and another 1.5 years now used up for an open tender (because the Chinese told the Africans they are interested and wanted to be involved in a fair contest). Well, they lost the EPC.

The Chinese government (through their steel mills and financial instiutions) has told the Standard Bank they have interest in providing debt and equity funding for the Mbalam-Nabeba project, while official state media (People's Daily) reporting huge "financial incentives" for SOE to develop IO mines in Africa and to relocate steel making capacity there. GJ's address sounds at odds with what the Chinese say.

GC tells us China will always have a role...what role ??

....Mota-Engil builds the port/rail (with African government blessing), CamIron is looking at BOOT, Nobel has 100% offtake for clients who could be European, MiddlwEaster, Indian, Japanese or Korean, Ivan the Terrible may soon have aboard seat

If the Chinese are truely interested (why would I doubt that...they participated in the tender and lost, hold all the shares bought at 44c, tell SB they are keen for debt and equity finance)....

But this time, Sundance may have alternatives and being well supported by the Africans.