rerating?, page-22

After 26th of this month the formal contractual deal seems completed.
However with the Chinese, even a major building contractor, the deals not done until the cash is received. Well $78 mil of it at least.

I still think a bit of minor drilling should be done, almost to provide possible consulation bit of good news / announcement , in the case of if the Chinese deal does not go through. General risk mgt, because things still have the potential to drastically deteriorate and sp to say 12 cents or lower.

There is little point in serious or continued drilling in Eritrea as there is nobody to sell any findings to. Nevsun are far too nervous, and Shanghai group are low bidders. So there is no incentive, unless it is blindly obvious. MTO.

One good thing about being skewed ivermectin by the Chinese, the likelihood of the dealing holding / proceeding increases significantly. For that reason I feel more comfortable. Also the Shanghai Construction group must build themselves as honourable corporate citizens if they are going to win international contraction or other contracts. This deal is small biscuits to them.

Chalice mgt are clever, despite totally underestimating the sovereign risk issues and lack of buyer market associated with Eritrea. They will pick up bargain "ready to go, but can't raise enough capital," gold mine somewhere.