ANS austsino resources group limited

FYI, as reported on Investir AU Cameroun.Below is a Google...

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    FYI, as reported on Investir AU Cameroun.
    Below is a Google translate version of this page:
    https://www.investiraucameroun.com/mines/2210-13425-fer-de-mbalam-l-australien-sundance-resources-espere-parvenir-a-un-nouvel-accord-avec-le-cameroun-avant-juin-2020

    (Invest in Cameroon) - Australian junior miner Sundance Resources and AustSino have decided, on October 22, 2019, to extend until June 30, 2020 the deadline for the finalization of their shareholding agreement on the project of exploitation of the deposit of Mbalam iron, in eastern Cameroon.


    The two companies hope that before that date, Cameroon will reach a new agreement on this mining project, led for years by the Australian Sundance through its Cameroonian subsidiary Cam Iron.
    The agreement binding the Cameroonian government to Sundance on this project has lapsed since March 2019.


    Sundance has hoped for an extension of its rights on this iron deposit in search of investors until June 2019, but the Cameroonian part did not grant this wish.


    The Cameroonian government is finally scalded by the inability of Sundance to find financial partners for the construction of infrastructure related to this project?

    In any case, Sundance sees in AustSino, this investor who will put the iron project of Mbalam definitely on the rails.In fact, the agreement between the two companies provides for the sale of Sundance's majority stake to AutSino, which will then be responsible for developing the Mbalam mining project.

 
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