My take on this is that SDL will be owning the rail. They have a...

My take on this is that SDL will be owning the rail. They have a MOU with CRC and agreement with the Cameoon Govt. From my research they are expectng a proposal on rail by end of Jan (The Australian Jan 04/11) POSCO are there to maybe compete for a bid or have some input. Why would they build a rail to mbalam (which SDL owns with CAM IRON)with the govt. if SDL decides to build their own. The ball is in SDL court and they will decide who will bulid the rail.

Christrading thanks for your input but some of the statements are wrong.

Govt has 10% of Cam Iron which has 10% of SDL and has
right to acquire further 15% of Cam Iron.That is, up to 2.5% of SDL.

By the time we get to low grade ore, as you put it, there will be no debt in fact we will be a few billion in front.In fact in all possibility we may have many more years of DSO ahead.

I do see the risks you are referring to but the rewards are still heavily in favour.










I see the risks as you point out but the rewards surely outweigh those.