CLE 0.00% 0.1¢ cyclone metals limited

Brendon is on to it. I was also doing some research & come up...

  1. 181 Posts.
    Brendon is on to it. I was also doing some research & come up with the following.

    African Minerals has the 99yr lease with the S/L Govt which provides for third party access. Despite what Tony says when he gets all excited, CFE do not own or have the right of access. CFE can have third party access to the rail and port facilities if they can negotiate the terms of access. So he is lucky Frank is his friend, and I'm sure they will work out a deal. The following is taken from an old Railways Africa article:

    "Parliament in Sierra Leone, AML reports, has formally ratified a lease over the railway and port infrastructure, both vital to the success of the project. The lease is for the Pepel port and for the PepelMarampa railway, and also covers the redevelopment of this infrastructure. In terms of the lease, the company would undertake an engineering study into the upgrade of the deep-water port and the existing railway. If these proved viable, it would upgrade, operate and maintain the port and railway and make these available to other users at commercial rates". 


    It appears the railway has not been in use since the 1970's, and requires completely rebuilding at a cost of $US 300 - 400 million to handle the multi million tonnes of ore to be transported to port annually, as it is generally in poor condition. Some parts are badly damaged with 20km's reported missing. It seems the port requires extensive upgrading as well.

    So, somewhere along the line the third party whoever that turns out to be, is going to have to pay their share of all this.
 
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