From what I have read so far on IMIC and AIOG they have done nothing in the last 18 months to 2 years to get started in Guinea in partnership with the Guinea Government to Fund the Rail and Port Infrastructure for the Simandou Projects.
They deal in mainly debt funding. They have advisory people from the National Peoples Congress of China. At November 30th 2012 they say they are now seeking to advance the Simandou South infrastructure project. Their spending has been very little over the last 12 months. Raised 10 million pounds gross. from individuals and AIOG. Created a US$ 50 million bond facility and drawn down US$10 million,US$5 million was used as a loan to AIOG for Simandou South project. Before buying some AIOG shares for 956,127 pounds they had only spent 605,981 pounds and had a loss of 1,562,108 pounds for the year.
These companies are suppose to be funding and building the Guinea Simandou South Rail and Port projects of over 600 kls of rail and buying Afferro and funding the Rail and Port projects in Cameroon.
One interesting point they make is that they a significant window of iron ore consumption in China from the current time 2012-13 and expected up to 2030. They also sat that junior miners in the region tend to trade at Very Modest values.
Regards Westcott.
SDL Price at posting:
8.5¢ Sentiment: None Disclosure: Held
