Ann: Placement to Raise $100 Million, page-27

This announcement is practically just an update that the Mid West is still trying to get the funds in the bank.

My question is why have they bothered announcing this just yesterday? The agreement was terminated 5 days ago (day from the announcement to this one, 6 days today). Granted that two of these days were the weekend.

We are still in the same position as we were two months ago, we just have to sit back and be patient.

One thing is certain though, despite no formal agreement in place with Sundance, the African project is not dead. Ding wouldn't put all that money in just to progress the Oakajee Project.

The issue with the Oakajee project is that despite the WA gov. plans to make it an industrial hub, the area is still vastly underdeveloped, and will need a significant investment from the WA gov to make feasible. Infrastructure such as a port, roads, High voltage power lines and water mains are all required before we go digging.

In addition the regulatory requirements are vast and take years to progress. Tailings management is not as easy as drying it out and dumping residue anywhere.....