Fair value?Eritrea has been lent $60m by China Ex-Im Bank to purchase 30% of Bisha, in addition to the government's existing 10% carried participating interest. As this values the company at $200m, does that represent a "fair value" purchase as stated in their agreement Oct 29th?
Having the govt as a large equity shareholder is not ideal, even if it can be represented as indicating a "stake" in the project's success. It raises the issue of whether they will want more in future. But given the new "resource nationalism" that now permeates mining jurisdictions around the globe perhaps the Eritrean version is what can be expected.