Immediately the news broke out of the proposed takeover of Sierra Rutile Limited by PRM, the share price rose by a 34% on that day.

At the global financial market this is what happened when good takeovers are announced. The hike is generated from the goodwill and reputation built over the years by the proposed company.

PRM, the investment arm of Gerald Group, a US company with over 60 years track-record made a $40m takeover of the remaining shares being offered on the Australian Stock Exchange.

PRM already has 11.46% interests and voting right in the mineral sand mining company that was originally founded in 1971 by a US based steel company Armco and Nord Resources.

Prior to PRM bid, Sierra Rutile had suspended all mining and processing activities which resulted to about 25% of staff mostly Sierra Leoneans losing their jobs.

It is hope that this new takeover will not only save their jobs but will bring a re-new sense of hope to the future of the mineral sand mining company.

The mining landscape in Sierra Leone has had many challenges in the last decade which was due to the volatility of the commodity market and the inability to absorb shocks driven by the many global activities.

The takeover of Sierra Rutile Limited by PRM under the leadership of Craig Dean has been a welcoming news by many in the mining and investment community both in and outside of Sierra Leone.

His track-record of running a successful trading company and the backing from Gerald Group, the parent company, cannot be over emphasized.

When he took over Marampa Mines Limited just over 3 years ago, he focused on his differentiation strategy.

He secured and invested in the technology and personnel to produce a high grade Iron Ore product referred to as Marampa Blue from Lunsar.

This product is amongst the best and highest grade in the world and therefore, it helped in showcasing Sierra Leone as a hub for quality Iron Ore.

The level of investment Gerald Group had made to date at the Marampa Mines Limited is in excess of $300m with all from equity.

With this, only a serious investor with vested interest and trust for the people of Sierra Leone can convince his Board to approve such amount.

His track-record in Sierra Leone in the last three years to date includes payment of over $40m to the Government of Sierra Leone through royalties, PAYE etc, something which represents a record setting CDA payment.

Over 2,000 jobs were created whilst pushing the government agenda in having over 30% of the workforce as women.

Having credible takeovers from companies like Gerald Group will only increase investor’s confidence and attract Foreign Direct Investment from similar players that will benefit the country, Sierra Leone.

With their track-record and every indication this takeover by PRM, there is hope for the future of Sierra Rutile Limited.