"where CHN seemed to know a good thing and sell when it came to...

"where CHN seemed to know a good thing and sell when it came to the pointy end"

CHN was encouraged to sell the project to the Chinese. The return to CHN was exceptional, $43m after tax for a JORC resource of 750k oz. China is using gold to back its use of YUAN currency in trading with Eritrea. CHN resource happens to be available and is of a reasonable amount.

Research will show you that ENAMCO paid for 1/3 of the exploration expenses, and that qualifies it for the 1/3 share of the value of the discovery. To say that Eritrea got the 30% for free is utter rubbish.

Propaganda is being run against the Eritrean government by two countries, and the strategy is to weaken mining investment in Eritrea; as mining profits and royalties make substantial contribution to the Eritrean budget.


To fight against such propaganda of misinformation, misleading information and lies in the the age of the internet is very difficult.