Hi donedeal, as I told you the name of the game is to be ultra...

Hi donedeal, as I told you the name of the game is to be ultra conservative.

My depressed valuation for Mbalam-Nabeba (UPON PROJECT FINANCIAL CLOSE) is not going to please everyone.

Given you stated you would not touch the stock with a ten foot pole until funding, I hope you may soon be in luck as the Africans have been responsible for both EPC as well as mine financial close for some time. Xi Jinping's China African summit with the $60B development aid this months adds to the impetus.  

You should be very happy that project level financial close will finally allow you to invest with sense of confidence and security.

I maintain again I only look at real world data, news and developments for guidance. I doubt India (with whom Sundance engaged via Ernst & Young and PCF Capital) and China are tripping over themselves to lose Mbalam-Nabeba.

All I can say is China and India (I speculate being co-funded by Japan who just gave India a soft loan for $15 Billion to build a steel intensive high speed rail network). Hence Friendly Countries (plurals) and George Jones in his interview with The Australian mentioned tender went out to Japan.

India just gave up her much cherished option nurtured for many years (the $US 11 Billion Afghanistan IO project). So much was riding on it, India even pleaded with arch enemy Pakistan to allow transit of IO through Pakistani territories. There is even a book written on it.

http://www.ndtv.com/india-news/irony-and-steel-in-pm-modis-pakistan-visit-the-inside-story-1259156

With India losing Afghanistan and possibly Wologisi (to China), one would have thought they would throw everything including the kitchen sink at Mbalam-Nabeba.

But I choose the conservative $US 800M (just a tiny 7.4% fraction of the $US 11 Billion allocated to the Afghan IO project - a resource that was never properly explored - forget about JORC definition - the Russian looked at it briefly in the 1980s during the Soviet invasion. Previoulsy the British has a look at it in the 1930s).   

The day we have been waiting for could soon arrive.  We can then celebrate on Hotcopper as one.