Hi All
I have compared today's quarterly report with the last quarterly report and have listed the followings:
Cost and Value Challenge Exercise
Last Qtr
Plans to upgrade the project nameplate capacity from 35 Mtpa to 40 Mtpa.
This Qtr
40Mtpa capacity confirmed and is currently undergoing independent review and we expect to announce an increased Reserve in the coming weeks.
DUP
Last Qtr
Only 5Km surveyed and completed.
This Qtr
The work is being carried out to international standards as defined in the Equator III principles and the process was some 35% complete at the end of the period. This work will continue over the coming months and is an essential component of protecting the assets in country and ensuring that the Project will comply with required international standards when given the go‐ahead, irrespective of the funding structure.
This work on the DUP is expected to be complete in the September quarter 2015
(No mention of the progress of the Equator III principles Cert but works are done in the EPIII standards.)
Hanlong Shares
Last Qtr
Resolving the Hanlong shareholding post the completion of the court action in China regarding Liu Han.
This Qtr
During the quarter Sundance commenced discussions on the process which will resolve the Hanlong shareholding in Sundance. It remains unclear what the final process will be. Notwithstanding, Sundance remains in close contact with the relevant Chinese authorities and we expect to see progress on this in the June quarter.
Debt & Equity Funding
Last Qtr
- Continue to finalize the involvement of a Strategic equity partner
- Continue to work with the Governments of Cameroon and Congo to assist in attracting the required strategic investors and associated funding of the infrastructure.
This Qtr
Sundance has been working with the Government of Cameroon and Chinese debt and equity providers to fund the infrastructure separately from the mines. Chinese debt providers will more than likely require substantial Chinese participation in construction activities and the procurement of Chinese equipment where appropriate.
Discussions with the Government of Cameroon, including discussion on the extension of Exploration Permit EP92 and the Convention Long Stop date, have progressed well with significant progress having been made. Sundance anticipates being able to provide a more detailed update in the near term.
It was mentioned recently that the Board is working closer with China, now it's clearly stated in this report that
"...working with the Government of Cameroon and Chinese debt and equity providers to fund the infrastructure separately from the mines. Chinese debt providers will more than likely require substantial Chinese participation in construction activities and the procurement of Chinese equipment where appropriate. "
Looks very likely it's CHINA! Hope she is our friend
Good luck to all holders.
Pikapika
