Thanks MWR8 for considering the points I raised.
Contrary to the ludicrous responses I previously received they were never intended to get definitive answers (how could they?) It was more about the thought processes involved in any analysis and things that have been largely ignored when discussing the type of car a holder may wish to buy!! (Seems to me it would be pretty funny for a "spy" to simply ask on an anonymous stock forum for information presumably to be used to alter the course of international arbitration
)
Anyway I digress - As you no doubt realised when replying it is quite hard to put your finger on exactly how & why ANS fits into the picture and this is the question I had right from the start of the rather convoluted (& limited detail) control transactions involving ANS & SDL!
The placement will be interesting presuming it eventually happens, however I do agree, whatever the reason Ding has for using an Australian entity he will no doubt want majority control.
I think it is fair to concede looking at it from the outside the constant delays in the placement seem to have come in handy as that is what ultimately saw the ANS / SDL deal cancelled which seemingly precipitated the African Govts to say enough is enough and terminate SDL's involvement (which incidentally is hard to argue with) and mysteriously include ANS in the new MOU's. I understand this raises hackles on the ANS threads however is purely an observation
I can answer your query about my thoughts on how this plays out in 3 letters - NFI!!
I have been perplexed at the involvement of ANS from the start and I have no idea how this will play out because of the murky way ownership is managed by these African governments and exactly what game the Chinese have been playing here. (I also hate those other 3 letters -MOU!)
Everything seems to come back to Ding and his involvement however I cannot work out why he is the great dealmaker and why his involvement is critical when it is likely the large Chinese SOEs will ultimately take over the development. (Perhaps he has been part of the long game, but still why the need for an Australian entity at all?)
Little doubt the Chinese will eventually fund and develop these African resources, however they do not give away free money.
As I said, when they get to actual funding agreements in relation to debt / equity and who owns what, where does ANS sit and what % of the project are they entitled to? (rhetorical question btw)
The Cameroon Gov are a party to the MOU so presume the infrastructure permits (& any FS, IP etc) will be held close until agreements finalised which limits initial ownership/rights pending contribution by way of funds or development which seems to limit ANS involvement?
Anyway, I will continue to sit and watch with interest and for holders sake I hope it all works out as imagined. At least you have hope while this is playing out!
(BTW - the Chinese urgency to develop these African IO resources has been a regular mantra now for many years and reams have been written about it!)
