I think we have somewhat similar views after reading your response/reading between the lines (apart from who actually has the ML).
A little more on the Mining Licences: We both agree - huge value in these ML's. Also yes, Chinese are in control. They have a huge thirst for IO that Africa can quench that thirst over the coming decades via a few important regions in Africa.
Re: all these companies. Let's say a fictional character named 'Mr Sing' owns Company A. Company A also owns Company B. Company B is then awarded the ML's in Cameroon. Now Mr Sing also owns company C. Now Company C is awarded the ML in Congo. Who has the ML - Mr Sing does via company B and C.
My point about Mr Sing and company structure is this; in Singapore its all documented. So if anyone actually wanted to know who controls what (the ML) the information is out there. One would just have to spend the time/effort and money looking into this. I for one, am very comfortable and confident in who actually controls the ML in both states. For me, this project is progressing as it needs to, considering whom has the mining rights.
Also agree re: ML and SDL. Should there be a need China will pay the $$$. IMO there will be no need for any compensations - SDL are dead in the water and 130M in debt. BOD just hanging on for a payslip - and as per last ANN pre discovery is done! Time to move on from that train wreck. And to be fair, SDl should now be the biggest cheerleaders as they hold over 100mil shares.
In regards to your points about infrastructure. All your points are correct unless; the company has the mining rights. Then this becomes viable via off-take agreements and a impressive project partner list. So back to my point above - If 'Mr Sing' has the ML then infrastructure is just the next logical step to get the IO out of the ground. CR20G - Could build and operate the rail line. CMEC/CCECC/CNCEHMC - could build the port and run that as well as infrastructure for the mines. We are talking about some of the largest SOE out of China. There are multiple project partners that have the ability to build and operate all the infrastructure components. The company has amassed an very impressive list of project partners. These partners are only needed if 'Mr Sing' has the ML... If he does not then there would be no need for project partners.
My above point is this. One would not just enter a deal of this size and magnitude with a view to run the infrastructure. That would be very very bad business (for most of the reasons you mentioned above). The money is in the ground, not in infrastructure. One would would spend the amount of time and money to just operate the infrastructure.
I know a few LTH has taken the time to look at company structures and know what I already know. I wouldn't expect non-holders to do this as it is very time consuming and TBH who gives a F**k about some small irrelevant delisted Australian 'mining company', Plenty of non-holders/SDL holders wishing this project ill-will (and you are defiantly not one of them). I know you have kept a keen eye on this project, but until one understands the structure its hard for one to understand its true value.
Who knows whats around the corner but I wish all LTH the best if luck! Bring on 2024!
IMO IPO not too far away (logically this is the next step)...
ANS Price at posting:
1.7¢ Sentiment: Buy Disclosure: Held
