Ann: New Agreement Signed with AustSino and Noteholders, page-24

So the port and rail project portion was handed to Cameroon Govt by SDL so they may build, own and operate their own infrastructure. But now Cameroon Govt are in the position where they can't afford to build it themselves as originally planned and the Chinese are cashed up and wanting the entire project for themselves and unwilling to lend more. Cameroon then show some muscle by holding out on the extension and the Chinese can threaten a different rail route to eliminate Cameroon.

In which case, Cameroon Govt and Chinese players will come to some arrangement (a JV or lease perhaps) so the Chinese get their return of investment before handing the rail and port back at some point in the distant future (perhaps never if the Chinese have their way).

Have I got this right so far ? Close ??