I now understand (and I'm a slow learner) why handung didn't stump up the cash initially......the key here IMO is the africans. No one wants to commit until africans agree terms. Right now the arficans have a pile of dirt. I they want money/payoff they need to agree favourable terms. That is why if there are interested majors out there ( and i think glenstrata would be) then they can afford to sit back and not do anything until these terms are agreed and know.
no point in buying a pile of dirt until you know what the tax/royalties structure is or the payoff to africans. The chinese don't have control over this area, so when conventions are known and they are sensible its game on as far as I'm concerned. The chinese are out of their league here......I can't see glen core sitting back and allowing chinese run the show in west africa.
ps i hope pythag is right, and sdl mngt ann higher reserves the would be a massive kicker to the deal.
SDL Price at posting:
46.0¢ Sentiment: Buy Disclosure: Held
