Lets not get too carried away - this isn't issue of the conventions - that is slated for August. But I think that after the Cameroon Government only started appointing experts a few weeks ago we were never going to get the conventions today. However this is the first time the Cameroon Government has put pen to paper. Equally the Congo situatiuon is only that a Minister has said they are in the bag - theres no signed convention / permit as yet.
These are important milestones as it gets Government skin officially in the game - there are still commercial terms to be finalised.
I repeat however that I am surprised that Hanlong is a signatory - that makes it harder or at least delays again the chances of a counter-bid anytime soon. What it does do is open the way for the SP to trade much closer to the takeover offer level as risk has certainlty been reduced with this "signed" document.
SDL Price at posting:
46.5¢ Sentiment: Hold Disclosure: Held
