Guinea-Bissau

In April 2010, Sillenger entered into a Memorandum of Understanding with a minister of the government of Guinea-Bissau to engage in potential business opportunities in Guinea-Bissau, including an airborne geophysical survey to indentify potential resource deposits.

Sillenger invited a delegation of Government ministers to Canada in August 2010, and introduced the delegation to the Canadian Ministry of Foreign Affairs and Fugro Airborne Surveys in Ottawa. The delegation also attended a presentation by the Ontario Ministry of Mines and Forests to gain a better understanding of the issues a government must deal with. The Ministry offered their help to the Guinea-Bissau government if, as, and when they are ready to start the process of establishing a resource industry in Guinea-Bissau. This gave the ministers a clearer understanding of the many factors they must be aware of, and the policies they would have to consider to attract foreign investors to consider their country for investment.

Sillenger made a formal presentation to the delegation in Toronto. A Minutes of Meeting indicated that the delegation would recommend the government commence negotiations for the survey contract for Guinea-Bissau.

In October 2010, meetings were held in Guinea-Bissau with the President and the National Assembly as well as many other government departments. The Government agreed to pursue contract negotiations, but a contract has not yet been finalized.

As of April 2011, Sillenger has effectively assigned its rights for Guinea-Bissau to Brilliant Mining as part of the financing arrangement on the Equatorial Guinea contract. Sillenger has agreed to refrain from any mining or hydrocarbon related initiatives in Guinea-Bissau for a period of one year.

Guinea-Bissau Delegation Visit to Canada – August 2010