Ann: Entitlement Offer to raise $16.5 million, page-7

The big problem about working in Africa is that they see white people as walking ATMs.

In boom times this works OK because everyone's making money. But for small companies with stranded deposits and normal commodity prices its bad, because the government and officials at all levels still expect the same money. There are no waivers or "fee-holidays".

For SDL to maintain its tenements is going to cost them, and its why Africa is an incredibly high-risk location to play. Only those with deep pockets should play there.