If you ever bothered to read the company announcements, you wouldn't be so ignorant.
From 28-Feb-2022 Chairman's Address;
Shareholders get the crumbs left over, AFTER Clifford Chance take their fee, Burford take their fee, and Noteholders are paid out.
The lawyers will be quite happy to drag this on as long as possible.
Expect Congo to launch an appeal after Q1 2024 sitting, possibly dragging this into 2025.
Ka ching, ka ching for Clifford Chance and Burford.
Meanwhile Sundance has no other meaningful projects and has become "a pure litigation company".
From the same announcement;
And hypothetically, if Sundance were to be given the Mbalam and Nabeba mining licenses back, then what?
There are other iron ore deposits along the Kribi - Mbalam rail route that can be developed in the meantime.
The Consortium could refuse SDL access to their rail/port infrastructure, and then how does SDL get the ore (not that SDL has the funds nor expertise to extract it) to the port, and to ship.
That scenario would make these stranded deposits and mining licenses worthless, and the Consortium could then offer cents on the dollar for them.
And all this time SDL is bleeding out and burning whatever crumbs were left over.
Owning the rail and port infrastructure was the key to exploit this region.
Individual mining licenses can be worked around, and left out in the cold.
