The Company has also agreed to convert an existing 5 per cent interest held by local investors in the project to 10 per cent of Sundance subsidiary, Cam Iron SA, part of which will be held in trust for the local Mbalam community and the balance held by the Company’s local management and investors. Cam Iron is the holder of the Mbalam tenements in Cameroon.
From this old report in October 2006, local investors held 5% then 5% was put in trust for the Mbalam community. I would assume that this is the 10% owned by HoldCo now.
SDL Price at posting:
7.9¢ Sentiment: LT Buy Disclosure: Held
