Ann: Acquisition of 60% interest-Manono Lithium, Tin, Tantalum, page-283

anatol. Respectfully I totally disagree on sovereign risk.
We are currently pulling this project apart with research in all areas.

I think the Tin is important but you should not discount the possible magnitude of the lithium deposit. You can discuss with Blastfurnace but it could be quite remarkable. It will take time to prove it up but I also respectfully suggest they have a much better base than most.

On sovereign risk. I spend a lot of time on this and there are a number of ways we must look at sovereign risk

Actual Sovereign risk, Western Perception and Chinese Perception as possible customers
Do not discount that Chinese perception is the most important of the three..

On Actual sovereign risk. Yes there are armed groups. It is however improving There must be some consideration to this risk however as with most African countries. As others have mentioned we have our own form of sovereign risk. in Australia. The trigger may be different but the effect can be just as devastating to shareholders.

On Western Perception of Sovereign Risk. I agree there is a definite perception of sovereign risk and even a tendency to limit DRC investment by western companies. I could not care less and from what I read nor could the Congolese in many cases.

On Chinese Perception of Sovereign Risk. As you know China is not one of the markets but without a chem plant is the only current market. The simple fact is that the Chinese like the DRC for investment and the Congolese much prefer dealing with the Chinese. That is because we mostly see SOE's or heavily connected miners in there from China. Their agenda is different to a western private company. In addition they have a huge network throughout the DRC they can call on so would likely be the safest in times of trouble and they know it.

I can only tell you that we research those issues exhaustively and we discuss first hand with the Chinese and to the highest levels. I am very comfortable that the most likely scenario is a fast tracking of development to SS and a sale or partial sale to the Chinese shortly after.
Of course it's not a done deal and has all the inherent risk of any spec stock. We are here and reading all this because we want to pick the next spec to be successful. However if I had to choose one project to build a story and take to the top guys in Beijing , this would be it.