WHO REMEMBERS THIS POST FROM
MARCH 18TH!!!
30-45 days from March 18th
It will be 31 days come Monday. We should hear more about this within the next couple weeks.
These next couple weeks should be really interesting.
Patience with this one will go a long way.
"CAMWATER: As a review of the information that is in the public record, Cardinal Resources signed a $28.8 million contract with CAMWATER to provide our Red Bird Systems, engineering services, water storage tanks, mobile laboratories, piping, and vehicles. To move the work ahead we worked with CAMWATER and the Ministry of Economic Planning and Regional Development (MINEPAT) to apply for financing with the US Export Import Bank as called for in the contract. To facilitate the funding, a commercial bank that is approved for U.S. Export Import Bank (EXIM) transactions must be mandated (selected) by the Republic of Cameroon.
This contract is progressing again after the delays that occurred when EXIM’s Charter was not renewed until December 4, 2016. Currently a series of meetings are being held in Cameroon between CAMWATER, MINEPAT, the Commercial Bank and Cardinal Resources, representatives to finalize the financial agreements and designate the Commercial Bank for EXIM’s involvement in the transaction. With the final selection of the mandated bank, which is anticipated before the end of the month, we anticipate beginning work within 30 to 45 days. Please note, as the Commercial Bank represents the Republic of Cameroon and the non-disclosure agreements between Cardinal Resources and the Commercial Bank we cannot release the name of the bank at this time."
