I think Afferro should be running as far as possible from their take over companies. IMIC and AIOG.
The same two are trying to get the Guinea Government to take Rio Tinto's Simandou Project away from them.
Chinese backed.
Very GOOD connections IMIC.
One of the Directors Andrew Macaulay is a founding and non-executive Director of ASX listed CCC. He is also a shareholder and Partner of Blackstone Resources Ltd,also an executive with HSBC Bank.
James Ward previous experience includes FD of Global Coal Ltd,whose shareholders include Glencore,BHP Billiton,Anglo America and Rio Tinto.
Dr Rilwanu Lukman KBA. Honerary Advisor on Energy and Strategic Matters to the President of Nigeria,President and Secreary General of OPEC,a Nigerian Petroleum Minister and so on.
Dr Babacar Ndiaye. Currently the Ambassador at large of Senegal.Ex African Development Bank,two terms as President and so on.
Andrew Buxton.CMG,is a former Chairman of Barclays Bank,President of the British Bankers Association,Chairman of Department of Trade and Industry UK.
John Negroponte served United States Foreign Service for nearly 40 years.In the Bush Administration as US permanent representitive to the United Nations,Ambassador to Iraq,Deputy Secretery of State.
Carson Wen. Partner in the Hong Kong office of Jones Day,one of the world's largest single partnership law firms. Creator of first PRC-controlled listed company in Hong Kong through a reverse takeover (that is what is happening with Afferro) PRC have significant stake in a Hong Kong licensed Bank. He is three term Deputy People's Congress of China and Justice of the peace of Hong Kong. Has held Public Service appiontments in Mainland China and Hong Kong.
June 2012 they had $1 million,then raised through friends $10 million. July 2012 3.9% stake in Afferro.
They say Central and West Africa could yield an additional 400-650Mt Annually.
Currently in dialogue with 8 African Governments (October 2012)
Their Chinese Partners are China Railway Group (CREC) Rail and Port.
China Machinery Engineering Corporation (CMEC): Power. These are the same two I believe that SDL have the Rail and Port MOU's with.
China Huaye Group Co.Ltd Beneficiation.
China Railway Materials Co.Ltd: Investor and Chinese marketing rights.
I believe the Guinea Government have handed over 40% of their share of Simandou to this group and they will build the Rail and Port at a cost I believe to be 9 Billion.
1st Project announced,Rio Tinto's Simandou South iron ore related infrastructure project.
2nd Project announced July 2012,Afferro Mining Inc,Cameroon; strategic Investment.
I down loaded quite a bit more on their dealing's that don't seem to add up. One other project they said they could get $100 million like for Aferro and sort the rest of the take over another way like they offered Afferro. They then go to the Chinese for the funding.
Not sure where this leaves SDL if the Chinese are looking to build the Rail and Port with Afferro through these two companies.
Regards Westcott.
SDL Price at posting:
10.0¢ Sentiment: None Disclosure: Held
