Assuming the Palace will at some point want a slice of the action. The chap at Sonamines pushed it too far, as the article points out, the only ones who can get away with playing that smart are the likes of Moudiki who is a close friend of Biya. This is not a democracy in the Western sense of the word. Assuming Canyon's subsidiary if it reaches the point of production (hopefully we would've sold it by then) would have a convoluted structure that will include the state owned Sonamines, some of the tribal cheifs and another entity where the Palace can receive its well deserved slice for the forbearance to grant them the right to exist. The disclosure requirements on the ASX make it particularly hard for companies to operate smoothly in developing countries!!!! Hence the Sundance fiasco, it would've been as simple as getting Kabila's sister onoard (which the Chinese didn't have problem with).
Make no mistake though, CAY are playing for multiple billion tonne bauxite deposits that will make a killing. Its just a matter of intelligently navigating to partake in the proceeds.
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Price($) | Vol. | No. |
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0.160 | 653226 | 6 |
0.165 | 541349 | 6 |
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