posco is back, page-34

Well this is about to get very interesting...

While Hanlong spent months negotiating with GJ on an acceptable takeover offer, Posco have been wooing the Cameroon Govt with the promise of adding value to the iron ore in country. Processing in country = more jobs and tax's for longer... Such a simple tactic, yet very clever.

Why would the Govt grant mining licences to the Chinese to export the ore to China when the South Koreans are able to bring so much more to the table through building a steel mill in country?

While I would not necessarily expect Posco to increase the bid price significantly, they may need to add a little sweetner to enable the Sundance Board to justify accepting a superior offer.

At the end of the day, with this one, it is not he who has the iron ore ("gold") that makes the rules, but he who will be granted the mining licence...

Here's hoping for positive news and share price movement soon :)

cheers