eureka!, page-40

Thx Squidd. I sometimes think I am shouting in the wind. I cannot believe people who say they would rather lose their house and others on a flawed principle.

If we say no -

China pulls out, share price drops like a brick, we run out of money, Africa tells us that our agreement goes out the window as we haven't delivered anything to them.

China goes back to Africa and splits the difference, the Africans get a larger share while they reduce their acquisition cost.

If we say yes, we get 50 cents. A profit for most.

We need to remember that we have drilled some holes in a foreign land and that we have no permits. Niente.

IO market will undergo structural change, you can bet on it. The slight hope we have is that a bigger player comes in to protect it's interest (ideally at a National level) to sustain margin and competitiveness. HArd to see hpw they can wedge into Africa where the Chinese have deep relationships and already funding them. Australia and the multis are doing very little so where do we think the African loyalty lies?

Time to get real.