Danakali - Coronavirus, page-19

I say this because Sub Sahara Resources were there in the 2000's and the MD was a client of mine and said the Eritreans were great to deal with.
And they got paid out handsomely.

And Chalice were in Eritrea and when they couldn't get funding (due to UN restrictions) the Eritreans facilitated a lovely US$cash deal with the Chinese. (maybe this was when you had your boots on the ground?)
It was a sweet deal but I also know Tim Goyder was pretty happy to exit with a nice cheque.
But the Eritreans didn't f... him over.

And all I hear is that they have been and still are assisting Danakali in every respect.
Their patience is probably wearing thin but maybe not.
They have ultimate respect for Paul Donaldson who did the PFS etc and is still a director of DNK.

And there have been some big ticket cash takeovers of a few projects in country.

At this stage, all I can hope for is that AFC just take over DNK at 60cps and they can have it.
And it'll be a steal.

And my dreams of $5 a share are over.
But they did get to $6 in 2011 or 12 which from memory was was quite enjoyable at the time.

Note also that I think current SOP prices have taken a hit and are at US$500/tonne.
DNK used $575/tonne in their models I think.
But the currency has taken a hit as well so maybe we are ok.
And regardless, a Tier 1 project means, they can still make a profit because the project is so good.
(Like BHP and RIO's WA Iron Ore projects)

Without researching (because I cant be bothered) I think all of the West Oz Brine SOP wannabes have been using US$700 per tonne and even US$750 for their models.
Not sure if any of them are viable at $500 but thats not my concern.

Anyway, tomorrow we go again.