re: Ann: Discussions Advance on ENAMCO's ... I am not as sure as...

re: Ann: Discussions Advance on ENAMCO's ... I am not as sure as I was about CHN, when I bought in over a year ago. I punted large and own 300 K shares, so this is not merely of academic importance to me.

My take on the Eritrean government's decision to buy the extra 30 % ( does that give them a total of 40 % ?? ) is that it was not expected by CHN, caught them by surprise, and is bad news for shareholders and company alike.

At the last AGM i asked specifically about this, and they dodged the question in my view, though talking later to Richard Hacker, the CFO, he was more open and helpful.

African governments are not known for their generosity to foreign mining companys, and I doubt the Eritrean offer of compensation for their holding will be generous to CHN, or timely.
One thing to promise to pay, and another to actually pay.

This might be what is weighing on the share price currently? or maybe just a lack of good news.

I originally intended to hold these for 3-5 years, through first production and on, expecting them to reach $1-2 per share.

Now unsure.

The upside is exploration success or a takeover by a larger entity.

Downside is protracted negotiations with the govt, or being dudded on the price.

So, to sell or to hold ???

I would appreciate the thoughts of other holders.