Mr Rick Yeates MD for Middle Island Resources said that "Ten to 15 years ago, Africa was just too high risk, you couldn't raise capital for African projects; you'd get no credit on the Australian stock exchange for progress you were making there."
Mr Yeates said that but the pendulum has swung the other way in recent years in part due to efforts by African governments to make regulations more transparent and consistent. He added that "West Africa last year was flavor of the month; everyone had to have a project in West Africa if they wanted to attract the attention of fund managers."
MDI Price at posting:
39.0¢ Sentiment: Buy Disclosure: Held
