ILU iluka resources limited
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FREETOWN, July 4 (Reuters) - Corruption under former Sierra...

  1. Ashentegra
    6,063 Posts.
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    05/07/18
    15:59
    Post #: 34165569
    FREETOWN, July 4 (Reuters) - Corruption under former Sierra Leone President Ernest Koroma who stepped down in April took the economy to the brink of collapse, a report commissioned by President Julius Maada Bio said on Wednesday.

    The important bit:

    Bio pledged in May to follow through with campaign promises to review mining contracts and consider legislative changes to ensure that the country benefits from its reserves of diamonds, mineral sands and bauxite.

    https://af.reuters.com/article/africaTech/idAFL8N1U02CV

    _________________

    Whether this becomes a higher royalty rate on Sierra Rutile remains to be seen.  The warning signs are there.

    ILU has a big capex plan underway for SR.  This must be considered at risk.

    Ash
    ILU Price at posting: $11.19 Sentiment: Buy Disclosure: Held
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    lightbulb Created with Sketch.  Great analysis
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