If you ask me, my answer is yes, but it is a positive impact.Think about this, it is Cameroon who is at high risk of debt distress, NOT Canyon. Hence Canyon does not have to give away the project next to nothing to the Chinese (assume it is a Chinese TO). Besides, Cameroon has got 10% free carry of the project, this means Cameroon will also benefit directly from a good TO deal. Why wouldn't Cameroon support Canyon to fight for a best possible deal?Since Cameroon is at high risk of debt distress, no doubt she will be very keen to see the project up and running. Under the circumstances, Canyon should have full support from Cameroon. This means Cameron is likely to fast track any related government approvals. I don't think China will make a move until the Mining Licence is ready to be issued (ML may not be issued until funding is secured) hence it is important for Cameroon to help Canyon to get to that stage as soon as possible. Win-win to Cameroon and Canyon.This is why I believe Canyon is likely to benefit from Cameroon's hefty debt.
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2 | 178001 | 0.087 |
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Price($) | Vol. | No. |
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0.091 | 250000 | 1 |
0.092 | 336309 | 5 |
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