I thought he was implying along those lines,but was not sure.
Some of what I post is a matter of adding 2 & 2 and getting 4.
Exim Bank the Chinese Government Bank were behind CEMEC at Belinga. Exim Bank pulled funding to CEMEC because they did not keep to the strict guidelines for getting Environmental Approvals before starting to build roads through the protected forest.Exim Bank were also not happy it appears with the grade of the Iron Ore at Belinga. There was also a matter of the project getting bad World press over the terms with the Gabon Government. The Belinga project started off with a figure to build mine,port and rail of over $3 billion.It then was stated it was going to cost less then $800 million. Belinga was to start mining in 2010.It has progressed less then SDL's project,and yet it started before SDL started their drilling.
I thought their was a very good chance that Exim Bank and CEMEC would get involved with the SDL projects.Port,Rail and Mine plant. CEMEC I believe were one of the Chinese Groups involved in tendering for Funding,Building and Running the whole project.
If they get involved it would help them to get Belinga up and running at a lower cost by going through SDL and Cameroon.
That is the reason I asked if SDL had been in talks with Exim and CEMEC.That was when the two heads turned towards each other and we saw grins on both faces. Again putting 2 & 2 together to make 4.
They did not know that Rio Tinto had two tenements in Gabon.That does not surprise me,as they would not be keeping a check on who owns which tenements in The Congo and Gabon unless they were in close proximity to their tenements.By that I mean next door to them or close to where they may be looking at other tenements.
Regards Westcott.
SDL Price at posting:
15.0¢ Sentiment: None Disclosure: Held
