Iron Ore Rally Again?, page-69

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Safety1st

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28/05/17

14:29

Post #: 24954006
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Originally posted by serena ↑

What ever is the terminology, please read the following option as quoted in the quarterly report.

 A granting of the Mining Permit application already in place which is permissible under the existing Mining Code.

Extract from quarterly report:

EP92 which holds the Mbalam deposit is due to expire on 23 July 2017. The renewal for the permit has now reached its limit pursuant to the 2010 mining code. The Cameroon Government is supportive of finding a method for Sundance to maintain ownership over the land that holds the Mbalam deposit. The following alternatives are being considered:

 An extension of the existing EP92 Exploration Permit and Convention long stop date for a further two years;

 A modification of the boundaries of EP92 to create a new, smaller Exploration Permit which still covers the Ore Sundance has identified, and covers continuous tenure over the land required for the rail and mine infrastructure. Sundance could then relinquish some of the tenure area to allow others to explore in the area; or

 A granting of the Mining Permit application already in place which is permissible under the existing Mining Code.

Meetings will occur between Sundance and the Cameroon Government over the coming quarter to find an acceptable way forward.

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So they could relinquish some or all of their tenure?

I still might throw some money away on this.
Don't always listen to my common sense.
Upside potential is crazy.

Have a feeling CDB may takeover Noble notes.
Then CDB do a full takeover and not the nicest for shareholders.

Do you happen to have anything on latest top 20 shareholders?

SDL Price at posting: 0.5¢ Sentiment: None Disclosure: Not Held
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