Sundance.... China-Krise als Riesenchance?
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27/03/2008: The Minister of Mines, Industries and Technological Development, Badel Ndanga Ndinga has granted audience to the Australian High Commissioner to Cameroon with residence in Abuja – Nigeria H.E. Jeff Hart.
Discussions centred on investment opportunities in the mining sector in Cameroon specifically the Mbalam iron ore project to be executed by an Australian Company “SUNDANCE RESOURCES”.
The project which has been estimated at 365 million USD, approximately 1,650 Billion CFA francs (more than half the state budget of Cameroon for 2008), is of great interest to government of Cameroon because of the economic fallouts.
A delegation comprising top government officials including the Minister of the Economy, Plan and Regional Development and the Minister of Energy and Water has just returned from Paris to seek for financial support from Cameroon’s development partners for the project.
The audience accorded the Australian Ambassador was an opportunity for the Minister in Charge of the Mining sector, to review the state of preparedness in view of an effective take-off of the project.
The iron production estimates at Mbalam have been put at around 35 million tons yearly. Its reserves are estimated at 1,000 million tons.
Exploitation proper should begin in 2011 and will last approximately 20 years
http://www.crtv.cm/cont/nouvelles/...ional&idField=623&table=noticias
concord is the only addition to this with 94mil shares
Talbot Group Holdings Pty Ltd 297,153,067 16.10%
ANZ Nominees Limited 163,591,433 8.86%
Citicorp Nominees Pty Limited 75,326,979 4.08%
Talbot Group Holdings Pty Ltd 63,303,976 3.43%
Osson Pty Ltd 50,000,000 2.71%
M/S Donna Joy Loxton 49,000,000 2.65%
HSBC Custody Nominees (Australia) Limited 46,933,137 2.54%
HSBC Custody Nominees (Australia) Limited 43,037,755 2.33%
Surfboard Pty Ltd 34,263,533 1.86%
RBC Dexia Investor Services Australia Nominees Pty Ltd 27,100,000 1.47%
Blackmort Nominees Pty Ltd 26,000,000 1.41%
Fortis Clearing Nominees Pty Ltd 22,792,843 1.23%
Mr Roger Bogne 21,000,000 1.14%
Triangle Resource Fund (Cayman) LP 16,250,000 0.88%
Connemara Investments Pty Ltd 15,000,000 0.81%
Istana Securities Limited 14,970,000 0.81%
Mr Serge E Asso’o Mendomo 13,800,000 0.75%
Loxton Nominees Pty Ltd 12,000,000 0.65%
Stay long mfG berliner_baer
Das hört sich aber nicht so gut an .....
Goldman Sachs JBWere
Hold recommendation
12-month share price target of 25c
Last traded at 24.5c
THERE were very few in the market that didn't already know that Sundance's Mbalam project in Cameroon was going to be a large iron ore mine. What people didn't know, until only recently, was that remodelling of Mbalam by Sundance now shows that there is a bigger mix of itabirite (low grade) ore than against the more company-friendly direct-ship hematite ore. As Goldman's analysts in Melbourne note, the addition of the itabirite ore is a "key change" to the nature of the project, which will still be a 35 million tonne per annum operation, but include more of a mix of itabirite. "We still see potential in the Mbalam project long-term given its shear size," the analysts recently told clients. "However, we note the move towards a predominantly itabirite project requires an assumption/conviction in higher long-term iron ore prices. We note that this thesis (of requiring higher long-term prices) is similar to a number of up and coming potential producers with magnetite/itabirite/beneficiated ore projects which have the common thread of higher operating costs and higher capital intensity."
But if the price is right, he will consider tipping the money into continuing to build his privately held Talbot Group, which is focused on getting around the infrastructure bottlenecks along the east coast by targeting coal and iron ore assets in places like Africa and Mongolia.
"Macarthur is viewed as the stepping stone and that is still the case," Talbot Group director Denis Wood said.
"But, that being said, do you pocket a generous amount of cash and invest it to speed up on other things, or do you keep MCC as the platform?" Mr Wood said.
Mr Talbot is on the road a lot these days, sounding out developments in Africa and Mongolia and visiting key customers in China. He has just spent the last three weeks offshore and only returned to the country yesterday.
Mr Talbot has deliberately taken a lower profile at Macarthur Coal in the wake of corruption allegations about a $300,000 loan to former Queensland minister Gordon Nuttal.
Mr Talbot is now facing 25 corruption charges.
He has stepped down as CEO at Macarthur Coal and has sold down his stake from 35 per cent to 24 per cent.
The proceeds from that sale have gone into building a new resource portfolio at Talbot Group which includes the likes of Sundance Resources and its iron ore prospects in Cameroon, and the Pilbara iron ore hopeful Jupiter Mines.
He also has a stake in Karoon Gas, which is exploring for oil and gas in the Browse Basin off Western Australia.
He also has stakes in Australian uranium explorers Marathon and Southern Uranium.
Mr Wood is in no doubt that, if Mr Talbot did sell out of Macarthur, the money would go back into the mining sector, with an emphasis on iron ore and coal.
"He'd be backing himself to do it again, I'd say," Mr Wood said