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News: ANS ASX Says Austsino Resources Will Be Removed From Official List Of ASX On 7 Dec, page-77

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gothamcity

59 Posts.

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15/12/20

14:07

Post #: 49591420
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Originally posted by Praetor: ↑

We don't need $100M any longer. At least not for the originally intended purpose...buying a controlling stake in SDL to gain access to the Mbalam-Nabeba motherlode. That original aim isn't happening. And, that's why we were delisted. It's punishment for not having sealed the deal.

I don't believe the ANS/SDL marriage will happen at all. It's GONE. No Deal.

Now it's a race by both companies to convert, so which has the advantage...the one (potentially) backed by five chinese heavyweights, or the company holding the legal right with no means to convert? Even Rio who hold rights to 45% of the larger Simandou project in Guinea baulked at the investment required to get the IO to Port. And that's 2.25 billion tonnes of high-grade iron ore!

This could still go very sour, very quickly. It really depends on the Cam Govt and whatever sway they hold over the Congo Govt surely...and the most recent news suggests the Cam Govt wants to move this along without any further delay...which means infrastructure build and near-term conversion of the IO to $$.

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Fair opinion.

So correct me if I am wrong, are you saying in this scenario ANS would need Cam Govt to grant them the legal rights which would essentially mean stripping SDL of their current rights?

ANS Price at posting: 1.7¢ Sentiment: Hold Disclosure: Held
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