some basic info, page-19

RVINTL, can you provide any other recent examples of where the Government of either Cameroon or the Congo have taken a 35% share in a project?

I actually hold shares in another IO company in the Congo and they own 100% of the tenements, there is no Government ownership there as yet.

There has been no mention at all from either SDL nor any of the Governments regarding a 35% stake in the subsidiaries. SDL has constantly flagged the possibility of 81% ownership of CamIron, & 76.5% ownership of CongoIron if the extra 10% is taken up. At the moment you have picked up the 35% figure, but no source that is even remotely close to the actual coal face of these projects has mentioned it. Picking up information that has yet to be disseminated by anyone and running with it as fact is extraordinarily presumptuous of you. Go and read the investor presentations again;

"The Cameroon Government has a right to a 10% interest in CamIron pursuant to the Cameroon Mining Code"

"The Congo Government has a right to a 10% interest in CongoIron pursuant to the Congo Mining Code"

Do you actually read the presentations? Personally, I'd be betting that SDL has their information and percentages correct before I'd be betting on you having them correct. The SDL team is actually in each of the countries and negotiating directly with Government ministers, surely you would think the SDL team would have the percentages correct?

Both countries are trying to develop their respective mining and foreign investment sectors. I wonder what taking the tenements off SDL, who have put $100's of millions into the development of the tenements, taking 35% ownership of them and giving the remainder of the ownership to an outside party would do to the confidence of other foreign companies looknig to invest there.