FROM THE CHAIRMAN
I have been honoured to serve you as the Chairman of the Board of Salternas Limited.
This is to inform that I have decided to retire as Chairman and Board Member of Salternas Ltd taking effect on the 31 May 2021. This also applies to Salternas GmbH, which in that case, takes effect on the 12 November 2021.
The CEO, John Balfe will be continuing in his current role.
I shall continue to be available to Salternas Ltd on a consultancy basic for the foreseeable future.
I take this opportunity to wish the Company every success it deserves.
To reiterate, I have been fortunate to have spent many of my 40-plus years in the Natural Resources and Sovereign Risk Mitigation sectors, on projects related to natural resources on the African Continent.
This Project is centred around the establishment of the largest single production facility of solar-salt in the World, whereby the land-based infrastructure is located in Somaliland, a self-declared state, independent from the Federal Republic of Somalia.
On introduction to the project concept by founders John Balfe, Mohamoud Jirdeh Hussein and Wally Hughes, I was struck by the potential to create wealth for the shareholders from an unlimited natural resource of the sea, without exploiting the natural wealth of a developing nation. On the contrary, Salternas Limited shall create wealth, economic wellbeing and life-saving sustenance to the population of the host state.
The preliminary economic statistics read that with an estimated revenue of about US14.8 billion over 20 years, an estimated IRR of 31% and Cumulative cash flow of US$6.7 billion pre-tax with a NPV of US$2.4 billion (DR of 6%) and a payback in 6.5 years.
In a nutshell, a proportion of the annual pre-tax cash-flow from the salt production (estimated at an eventual US$400 million (AU$580 million) will be reinvested to produce a major humanitarian program to produce enough food to create zero hunger and relieve the Somaliland population from famine, that has blighted the Horn of Africa to tragic proportions (Self-sustaining Humanitarian Relief).
Currently, the group are seeking funding from ethically-minded investors to make this ambitious project a reality. Already, Salternas has a binding agreement with the Somaliland Government for a renewable 25-year lease of 150 sq.km of oceanfront land to locate the project and its infrastructure, with an option for more, if required.
The investor is urged to consider this venture as a non-speculative industrial undertaking, and not the traditional speculative undertaking that is customarily linked to exploration and mining.
Salternas' ambition, and that of the entire team, is to create wealth for you over a long period of time, thus giving you the satisfaction that you are contributing to saving tens of thousands of lives as a bonus.
Using the latest technologies in energy generation, salt harvesting, water harvesting, desert-based agriculture, mariculture and aquaculture, Salternas Limited is destined to succeed on your (the shareholder’s) behalf, and the peoples of Somaliland and surrounding sovereign states.
The philosophy is that of the highest standards of corporate and social responsibility, economic and industrial competence, continuous improvement, empathy and diligence.
Please take the time to read the document, consider its content; and I look forward to welcoming you on-board.
Eur.Ing. Professor Colin Roberts LL.M Resources Law & Policy (Dundee), P.G.Dip. International Commercial Arbitration (QMULondon), B.Eng Mining Engineering (WASM-Curtin),P.Eng, C.Eng, C.Pet.Eng, C.Sci, FIMMM, FEI, FSAIMM, FAIE, FAusIMM(CP), FCIArb, FDBF, MAIA, MCIM, MIEAust, SPE, SME
*Professor Roberts dedicates 25% of his professional time pro-bono-publico. He is supported by a team of highly skilled and successful professionals whose collective aims are to promote the rule of law and human rights, encourage global prosperity, the reduction of poverty through responsible foreign direct investment in the natural resource sector, creating a legacy of economic wellbeing and the subsequent elimination of civil and global conflict.