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20/02/15

18:51

Post #: 14793420
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Originally posted by pikapika ↑

Hi Westcott/Lion2009

I think there is a misunderstanding here regarding a delay to 2016. I always believe the article meant the delay was the construction of port & rail, not funding. Funding will depend on the iron ore price now. IMO, once China's NY holiday is over, iron price will start moving up. So things could happen anytime in the next few months. I have a look on the article again:

...."With a price less than $ 50 per tonne or 50% less than a year ago the financial partners that we had found became cautious and ask us to wait," laments the Australian Giulio Caselo, the owner of Sundance, which is developing the project Mbalam Nabeba-two share deposits of iron sides of the border between Cameroon and Congo - Brazzaville. Originally scheduled mid-2015, work began mining railway project, a $ 3.5 billion, will be carried forward after 2016 ...

http://translate.google.com.au/tran...rond-en-attendant-la-reprise.html&prev=search

If you have a look on the article, there is a link leads to an article dated 10 June 2014 when Mota-Engel was appointed. At that time, our plan was to have financial wrapped up by mid 2015 and rail/port construction to start right after that, so would be around June 2015.

As we all know, the financial completion target date was delayed to end of 2015 since then, with construction of port & rail to start in 2016.

I believe that journalist meant the delay of the construction work, not the funding because he/she may not know that the construction had already been delayed to 2016 due to finance completion delayed to end 2015.

All my opinion.

Cheers.

Pikapika

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Hi pikapika.

The report still said that the financial partners they had found asked them to wait.
So still talking of a delay. I also heard a whisper about the same thing from around a month ago about waiting until iron ore prices had started to go back up and then contact them again.
They need to make it clear to share holders, if iron ore prices do not start going up to a steady higher price of perhaps $80+ that could be in 2 months, it could be 6 months, there obviously will be a delay.

Tell us now that it depends on the iron ore price stabilizing around whatever price the Financial Partners will be happy with to get them to commit and sign off on the Financing deals. Just don't leave an open ended time frame.

Regards
Westcott.

SDL Price at posting: 2.5¢ Sentiment: None Disclosure: Held
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