whats all the hype about, page-138

Though some very high profile Angolans behind this story, is there a reason why they are transferring 1.4billion into the US via Pensador, then transferring 1.1billion of that into Australia via CVI, then essentially transferring that back to where it originated via SPV JV's, increasing interests etc etc

Hi Sparkler,

The Angolans are not the main money behind Pensador - they are the major ground holders that are putting their resources into the pot (as well as some cash).

Pensador funding is apparently coming from international finance through Swiss bankers. The funds are going into Pensador in the US as this is where people are comfortable with the funds from a governance and legal standpoint - Angola does not have the laws to ensure that the money remains where it's supposed to.

Also, the aim is to gain full US listing of the company with its resources, so again the US makes sense.

Finally, the money will not be coming directly back to Australia - it is there to fund projects in Angola, so the money will be paid to get those projects moving along.

HTH

Cheers