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serena

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21/11/19

00:26

Post #: 41543467
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Originally posted by Praetor: ↑

...now that’s not really true is it Serena?

Copied from a previous post by Devous (with thanks)...

https://www.investiraucameroun.com/mines/2210-13425-fer-de-mbalam-l-australien-sundance-resources-espere-parvenir-a-un-nouvel-accord-avec-le-cameroun-avant-juin-2020

“Australian junior miner Sundance Resources and AustSino have decided, on October 22, 2019, to extend until June 30, 2020 the deadline for the finalization of their shareholding agreement on the project of exploitation of the deposit of Mbalam iron, in eastern Cameroon.

The two companies hope that before that date, Cameroon will reach a new agreement on this mining project, led for years by the Australian Sundance through its Cameroonian subsidiary Cam Iron.

The agreement binding the Cameroonian government to Sundance on this project has lapsed since March 2019. Sundance has hoped for an extension of its rights on this iron deposit in search of investors until June 2019, but the Cameroonian part did not grant this wish.”

. ******************

...and thanks to Devous for indulging me the liberty to copy-paste his words here, alongside the article link above;
“In fact, the agreement between the two companies provides for the sale of Sundance's majority stake to AutSino, which will then be responsible for developing the Mbalam mining project.”

All you have to do Serena is wait for the freshly signed Mbalam Convention. That’s the goal here. Shouldn’t be too long now - in my opinion.

Expand

Don't read the news. Read the acquisition agreement and the company announcement on 8 July 2019 (Black and white).

It states "The new agreement does not have the reinstatement of the Mbalam convention as a condition precedent"

There is no excuse for ANS/WAPRC not to obtain China NDRC approval since the agreement does not include the Mbalam convention extension.

ANS Price at posting: 1.7¢ Sentiment: None Disclosure: Not Held
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Oakajee, page-61

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