They'll probably end up with 30% of the Mbalam project which will probably include the Mbalam pit and the Nabeba Pit only for a set period of time , eg 25 years.
The second project might be the not yet formally awarded Les Mamelles Project, close to port, if SDL's four rigs are successful in exploration, this might be what recent raising was about. Keeping SDL's four rigs going after they have proven resource at Mbalam project.
This second project might be another joint venture with another partner say POSCO.
If enough IO at surface? Might be 100% SDL as rail line will be going very close to Les Mamelles on way too Mbalam project.
If the above is close to correct than third, forth and fifth projects will possibly be Meridoinal Project , Mbalam South Project, Metzimevin Project or Nweng Project or the Letioukbala Project and so on.
Probably all 100% SDL.
Point is from this point on will probably be less shares on offer than you think.
Experienced SDL posters I'm happy to be corrected if you think it's necessary, it is a chat room after all.
As always do your own research.
Cheers EWO.
p.s I'm not intending to sell to early or to cheaply. These groung floor opportunities don't come around everyday.
SDL Price at posting:
38.0¢ Sentiment: Hold Disclosure: Held
