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Hi All. Just crossed my mind. Tidfore are to secure in their 51%...

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westcott

8,602 Posts.

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26/01/18

14:07

Post #: 30591361
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Originally posted by serena ↑

If Tidofore and CCECC (a large state-owned company) have met with representatives of the Government in Cameroon, this signals that they will are fully committed to the projects. They have money, knowledge, skills and experiences to execute a large project like SDL mine with port and rail infrastructure.

This project is huge and over $5 billion dollars.

Extract from SDL announcement
Sundance, Tidfore and CCECC met last week with representatives of the Government in Cameroon to outline their proposal for the development of the Project. The Government is yet to determine whether it will grant Sundance the further extension of the Convention. P a g e | 2 Sundance will advise the market as further information is obtained.

Extract from http://www.ccecc.com.cn/en/index.php?m=content&c=index&a=lists&catid=2
China Civil Engineering Construction Corporation (CCECC) was established in 1979 under the approval of the State Council of the People’s Republic of China. As one of the pioneers performing international contracting and economic cooperation, CCECC has evolved from the earlier Foreign Aid Department of the Ministry of Railways of China into a large-scale state-owned enterprise with Chinese national Super Grade qualification for project contracting. CCECC has been listed among the world’s top 100 international contractors for seventeen consecutive years by the Engineering News Record “ENR”.
Ever since the 1960s when CCECC contracted the largest foreign aid project--Tanzania-Zambia Railway(TAZARA), CCECC’s business scope has expanded from international contracting for railway construction to project contracting, civil engineering design & consultancy, labor services cooperation, real estate development, and import & export trading as well. The business activities of CCECC have covered over 50 countries and regions in Asia, Africa, America, Europe and Oceania. By undertaking numerous key projects covering railways, highways, bridges, buildings, and municipal works in its overseas markets, and with its excellent performance and quality service, CCECC has won many national titles and honors.
Besides expanding its contracted markets, CCECC has made every endeavor to be more diverse and professional in service.
The corporation’s financing capacity has been improved and its business scope has expanded. In the future, CCECC
will continue to carry out an even more extensive and deeper cooperation with friends all over the world
to promote common development and mutual benefit by delivering the best service to our
dear clients and contributing more landmark projects to the society.

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Hi All.

Just crossed my mind. Tidfore are to secure in their 51% of Cam Iron to secure funding for Port and Rail. In my opinion, Tidfore will not fund The Cameroon Government for Port and Rail, but SDL. It would make more sense to hold 51% of Cam Iron, perhaps with Hanlongs 19+% of SDL, which gives them a stake in The Congo Republic Nabeba iron ore project.
If it was me in Tidfore's position, I would not only want 51% of Cam Iron for funding the Mine, Port and Rail, I would want to be in control of the Rail and Port Revenues, not give that away to The Cameroon Government. China will be in charge, not The Cameroon Government.
Even the iron ore coming from The Congo Republic, SDL's Nabeba, Core's Avima, Equitorials Badondo, Belinga and a few others in **on would give revenue to Tidfore if they own and run the Port and Rail. Why would you own iron ore, Fund Port and Rail and give the revenue to Cameroon Government?

Regards
Westcott.

SDL Price at posting: 0.8¢ Sentiment: None Disclosure: Not Held
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