Yes the other mine is Afferros nkout project which probably has a larger BIF tonnage than the mbalam project. SRK believes there to be around 2750mt-3500mt below their current pit shell at nkout center which is 8,5km out of >20km ... this is just for their nkout license they have ngoa,ntem and akonlinga
The chinese is going to take all the ore from mbalam for themselves so the only way for posco to secure ore from SDL would be to buy out the entire company which is going to be hard considering the amount of shares hanlong controls. for this reason i find it hard to believe that posco is going to try and secure a deal with SDL instead of AFF
I am not saying SLD has bad assets, they actually have one of the best DSO deposits in africa that isn't under control by the big three, but the chinese have complicated matters in securing the actual ore form mbalam which is what POSCO would be after
SDL Price at posting:
37.5¢ Sentiment: LT Buy Disclosure: Not Held
