Ann: Receipt of Final Approvals for Trafigura Fin, page-9

re: Ann: Receipt of Final Approvals for Trafi... I was of the understanding that ECIC, (insurance against political risk, amongst other things), was necessary for finance approval. Mind you any company insuring against political risk in the DRC would need balls of steel. However it seems all finance boxes have now been ticked. I also am of the beleif that some of NED Banks $12m will go towards drilling Sase. Don't hold your breath for the the drilling program to begin. Most of their resources will be focused on the commissioning of the plant and I would be surprised to see any drill results from Sase before September.
I was also advised that if the ECIC did not play ball they had other options, I was not advised what they were. Not sure if it really matters much now as it seems we have the coin.
With the Dow tanking, (down again, over 130 points last night),the cu price taking a belting and the resource sector in general being torched I am not surprised at the lack of upward movement in the sp after such great news.
I do not think Krudd's super tax will get through as he will lose the next election. If I am wrong it will only help to enhance our position in Africa as new Australian copper mines will rethink their development plans as profit potential decreases if the tax does go ahead.
I have been wrong before but feel this, second, leg of the bear market will be short lived and before TGS is ready to ship the first boat load of cu we would have began to see the beginnings of a sustained bull market especially in commodities. The markets may get worse before it gets better but hang in there TGS shareholders as there was a splinter of light at tunnels end a day or two ago, now we have a shaft. The .40cents sp predicted by the brokers will be a reality within three months.
Cheers,
Stump.