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Comment by
Karmanowon Nov 29, 2011 5:14pm
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RE: A COUNTRY OF VISION
RE: A COUNTRY OF VISIONGreat Article zenona++ Confirms again that Ethiopia not only has a Vision...but is achieving her Mission...
Their 5 year plan is more than ideas and words...they are putting it into action and for a fraction of the cost of other African countries...
...In Ethiopia, money put in the government’s hands is safe. A clear vision and a clean government is the oil that the Ethiopians have struck.” It all suddenly sinks in. I begin to understand how the Ethiopians are constructing a power dam that will generate 5,250 MW at a cost of a ‘mere’ Euro 3.3 billion from their annual budgets, which works out to about $800,000 for "one" MW.To imagine, using Hilary Onek’s figures, that Uganda uses about $7 million to create "one" MW capacity, I want to hide my face. What is wrong with us? And the Ethiopians are attaining all this infrastructure development without waiting for a lucky oil strike!...But nothing could easily explain the construction boom going on in Ethiopia. Highways, railways, and of course dams, especially the Renaissance Dam
As said earlier today, China is not investing billions into Ethiopian Infrastrures as charity...they have a long term plan to get paid back.
When the revised NI Resource Estimate is released we will have an enormous amount of Sylvinite to solution mine for decades to come. The interesting part is the Stage 2...and what we will do with the huge resource from the Kainitite Layer which lays directly below the Sylvinite Layer?
Remember, the phase 2 drilling is mostly infill drilling to expand the existing resource in the south west portion of the property. If the revised resource doubles the Sylvinite we go from a 40 year mine at 1 m tons per year to either a 40 year mine at 2 m tons per year or an 80 year mine at 1 m tons per year. And that does not include what the final decision with regards to the Kainitie Resource?
I hope we have explored all possibilities of supplying the domestic market for the first 2 years of production?
This will allow Farhad and team 2 more years to build the port infrastructures...and reduce the initial required Capex from $700 million to $550 million...(60% Debt + 40% Equity)...that means he only has to raise $330 million of debt financing to build the mine and infrastruture...then, two years into production finance the $150 million for the port facilities...?
I have come to the conclusion that anything is possible with this man...just dont ever underestimate his drive to achieve his goals and vision for Allana..
Karma