While I cannot for the life of me understand or explain why after verbal indications by the Cameron Government the Mbalam Convention will be extended that we are still waiting... weeks later.... for the formal written confirmation..... I personally would not write this off yet!
A lot of the logic does indicate this is a train wreck... and a lot of facts/events also lead to a potential train wreck.. there are some key facts that make me feel a some point this will all happen:
- the combined Cameroon and Congo deposits mean one needs the other
- proven extremely high grade levels of iron ore
- China's need to reduce pollution
- some parties still tipping in not insignificant amounts of cash to keep this good
I've always been a "glass half full" guy..... I'm certainly not writing this off.... but I'm also far from certain this will happen either.
I'm just watching this... the share certificates (not that they have these anymore) are in my bottom draw and if it happens in 1 month, 6 months or whatever.. happy days!!! If it doesn't happen... that's life!
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