Ann: Mining Indaba Conference Company Presentatio, page-4

re: Ann: Mining Indaba Conference Company Pre... And lifted from another thread, regarding EQX's Badondo deposit;

Wuhan, Hanlong Mining to move on Sundance
PUBLISHED: 1 hour 39 MINUTES AGO | UPDATE: 1 hour 19 MINUTES AGO

Edited by Sarah Thompson and Anthony Macdonald
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Wuhan Iron and Steel is expected to be revealed as a partner to Hanlong Mining to implement a $1.4 billion takeover of Sundance Resources.

The long-awaited takeover should complete after Wuhan stepped in to underpin the investment, which will require around $US4.5 billion in capital to build.

China is keen to enhance its presence in infrastructure investments across Africa and the Sundance project would haul iron ore from a range of smaller miners in the area, including Equatorial Resources, Core Mining and others.

There is also a strong likelihood that China would link the project with the Belinga iron ore project in Gabon, where engineering firm CMEC currently holds the right to mine.

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The Mbalam Convention has clauses in it that state the infrastructure must be available to third parties at commercial rates. Affero (another miner in the region) was also told by the Cameroon Government that it would not need to contribute equity to the initial building of the infrastructure, but rather pay haulage fees. Affero was guaranteed there would be third party access, as per the Mbalam Convention. Badondo is obviously a longer term play than Mayoko, and could just be drilled and sold, but it's looking more and more like it will no longer be a stranded asset soon enough. Once it's not stranded, it becomes much more valuable.

Just a note that I think Gabon has Belinga under review, with a thought that BHP was sniffing around that deposit.