chalice hits massive..., page-16

Agree Dwuuuu about the new "god sent deal" the Eritreans are taking the mickey.

http://www.tesfanews.net/archives/9922

"So what is the reason behind that drives South Boulder to the extent of alluring the Eritrean Government with deals that can force it to disregard the fundamental laws of it’s own mining code? Are they looking for the long term gain while we see the short term pain? Can it be considered a win-win deal?

I want you to have your say on this “God Sent” deal in a civil way, please. Thanks!"

Would say the reason is western mining companies are being squeezed in Eritrea and not for the first time!

Not good news for Chalice either as i expect this will become the new deal for furthur projects which means Chalice would have to raise more money for any new projects there and share more of the profits.

The way the Eritreans can just tear up the rule book makes a stronger case for Chalice to diversify more as well.

Simply now (if it did before) does not make any sense for the Capital Reduction to go ahead when the company is going to need those funds.

I would say the Eritrean projects are still going to be valuable but obviously less valuable after this piece of news!