Trent26 IMHO they are the people that either have the existing licences or can get access to them. I believe they are the "Influential Angolans " that MS refers to.
They are also on the board of Zebra, either Zebra copper or Zebra mining services.
I suspect they would be on the Fortitude board as well.
Can you highlight some of the current and upcoming projects Bongani is involved in?
Bongani also acquired shares in Global Energy Angola. As you are probably aware, Angola is currently the second largest oil producer in Africa, but with the new well discoveries, predictions are that in the next five years it will be the largest producer in Africa, with an anticipated two million barrels a day. We saw a gap in the market, and presented the possibility of further exploration of onshore oil basins at a number of high level meetings with officials in Angola. The project was welcomed as it was the intention of the Angolan government to involve nationals in the oil industry. We have thus secured the rights to explore onshore oil basins and are in the process of finalising a contract with our Chinese partner. A joint venture company called NAG Angola will be running this concession for exploration of oil.
With the diamond laws in Angola changing, it is now much easier for one to acquire a diamond exploration license. Previously applications needed to be approved by the council of ministers, but the Minister of Geology and Mines now has powers to issue concessions for diamond exploration. Bongani is thus in negotiations with this ministry for a concession on diamond exploration. We are also exploring granite in Huila.
CVI Price at posting:
0.0¢ Sentiment: Buy Disclosure: Held
