Ann: 2016 AGM CEO Presentation, page-36

Hi Ginger7.

Both were at the stage of looking for funding. BHP pulled out of their Simamdou project just down the road from RIO in Guinea.
RIO having too many problems in Guinea with The Government and with so called Chinese Funding partners to fund and build the Rail and Port. Same Chinese who are running the Affaro project at Nkout, not far from Mbalam.
They did get the Green Light, Chinese mucking about with Funding. Chinese involved with the Guinean Government departments to allow the Chinese group to take over the Government group who were the major shareholders for allowing it to go ahead.
The Chinese group were never going to be able to fund and build the infrastructure needed. They had to borrow a few million dollars to give to another Chinese group who were to supposedly get the funding.

Regards
Westcott.