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westcott

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26/06/15

13:57

Post #: 15536663
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Originally posted by BLUTO ↑

Hi Westcott,
went to edit my post but went over the 3 mins,this is what I meant to say:
Firstly I truly believe that the Government should own and build the infrastructure, that will then give them a better say in the development of the region. Having said this that would mean that Sundance will miss out on about half a billion dollars a year income. Is that potential income worth anything? Absolutely, do I think that Sundance will be compensated for it? No way.
Now once the government moves away from Sundance & MotoEngel towards the Chinese SOE, well I believe that will be the beginning of a very slippery slope that will see the Mbalam & the other Camaroonian deposits eventually stripped from Sundance all together. Hanlong's involvement with Sundance has taught me two things, You can't believe a word that they say(I'm not elaborating on "THEY"), and that the Sundance board do not have the ability to put this project to bed.
So that's a very negative thing I know, but that's how I see it.
So if the Camaroonian Government announce that they are going it alone with the rail & port using the cash and expertise of Chinese SOE's WITHOUT compensating SDL appropriately, then I'm selling the piddly parcel that I have left. Opposite story if they announce a compensation package. I believe that Sundance is on a razors edge right now, and her fate sounds like it rests in the hands of people who have nothing to do with Sundance.
GLTAH

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Hi BLUTO.

Half a billion per year income lost. Two point five billion, plus interest to (Not have to find and pay back). Only have the Mine funding to look for. Russians I believe are looking to help with funding the Mine.
Cameroon Government know nothing about running Rail or Ports. Cameroon Government and the Chinese Funders know nothing about running an Iron Ore Mine.
Take a long hard look at the Chinese Government effort with Sino and other State owned companies in The Pilbara. Blow out from $3 billion to over $10 billion.
How many iron ore mines do the Chinese own outright around the world? How many iron ore mine projects are the Chinese involved in around the World in Partnership with Western owned Miners? All involvement in Iron Ore Mines outside of China I would suggest are with Western Miners or Steel Mills as Partners and the likes of Glencore.

You may be right. You may be wrong. Just giving my opinion.
Good to be debating, rather than arguing.

Regards
Westcott.

SDL Price at posting: 2.2¢ Sentiment: None Disclosure: Held
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Cameroon, page-35

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