The most likely outcome is a takeover by a MNC that knows how to deal with African nations. A MNC already has a major stake in MDL.
The next step is the mining license for the mineral sands, which is a massive prospect.
Africans will not want to become overly dependent on China. Chinese in PNG are paying some of their local workers at a mine with tinned fish. I can not see Africans responding well to such outcomes, which are becoming more common in their dealing in Africa, according to what I have read.
Some African counties welcome western investment in mining. China is far behind in mining technology.
However, there is considerable country risk in Africa. Not sure if Senagal is the worst of them. This is an ex-french colony with considerable respect for law. Do they now want to become a Chinese dependency? Unlikely.
The wait and lack of action in this share is frustrating.
We need an expansion of MDL's gold reserves to wake this one up.
MDL Price at posting:
0.0¢ Sentiment: Hold Disclosure: Held
