interesting this mob is funding the legal action for Sundance (check out Sammy88 Post).
https://www.lse.co.uk/ShareChat.asp?ShareTicker=BUR&share=Burford-Capital&page=3
Sundance Resources update28 Feb '22
I saw the article below about Cameroon formally giving Sundance Resources assets away (for those who aren't aware, we are funding Sundance's $8b claim.
The penultimate paragraph caught my attention:
"According to sources close to the case, the Chinese consortium has expressed its will to bear the cost of a possible conciliation between Sundance and the State of Cameroon. Such an arrangement could cost a similar amount to the US$8.76 billion (XAF4.7 trillion) of damages the Australian firm is claiming from Congo [Ed.note: the Mbalam-Nabeba iron project is estimated to cost XAF5.5 trillion]."
This is what I thought might be the case. Cameroon/Congo said to the Chinese entities - you can have the mining permits but you have to cover the costs of settling.
We don't know what the terms of the financing are, but if Burford gets 20-30% of a settlement worth billions it would be a good payday.
https://www.google.co.uk/amp/s/www.businessincameroon.com/index.php/mining/2502-12360-mbalam-ore-autsino-and-bestway-get-closer-to-taking-over-sundance-s-mining-assets/amp
Really - Dyor
