nigeria - not rated fraser institute report, page-8

WC8 Energio the toy company was just a shell company with very little going on. Allowing a change to mining is allot cheeper and quicker than starting a new listing / float.

There is nothing perculier about said Iron ore deposits remaining dormant for so long.Nigeria is the worlds 6th largest exporter of oil so all other revenue generators have been ignored until now. Also not having had very stable or accountable previous Governments (read Dictators) has not helped. This situation has changed now wih almost 10 years of Democratic rule.

As for that list, of course Nigeria does not feature as it is an Oil country not a mining country, unti now.

I understand that lack of knowledge can be a scary thing so why not educate yourself a bit and check out this Nigerian Government site.

http://www.mmsd.gov.ng/publications/publications.asp

These deposits are so real the Russians saw fit to build a steel plant to exploit them until some of the issues I mentioned above came into play.

At present IMO Nigeria represents much less in terms of sovereign risk as compared to the DCR for example. In Nigeria we have Large IO deposits next to Bitumin Roads and Rail. What does SDL have? 450KM of Jungle to negotiate befor their ore sees the sea.

Go ahead and knock EIO all you like but please do it with facts and not conjecture.

Cheers