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CEO.CA members discuss high-risk penny stocks which can lose their entire value. Only risk what you can afford to lose.
@MiningBookGuyMining companies tread carefully when considering #explorationhttp://www.miningweekly.com/article/mining-companies-tread-carefully-when-considering-exploration-2016-02-09#Indaba#Africa
Partial Quote From Article:
[Africa Mineral and Energy Development Fund partner David Twist said he was attracted to opportunities in countries that had an investor-friendly #miningcode and that were strongly opposed to corruption. “ #Botswana is our ideal jurisdiction,” he said.
Reading stated that #gold was shining at the moment in terms of exploration. “For the first time in a long time, gold has become the most important mined metal. There’s an incredible emphasis on gold now. It accounts for half of the exploration and half of the dealmaking. “ #WestAfrica, in particular, is endowed with many gold deposits so that’s a good place to stay in focus, providing you have the political and fiscal stability,” he noted.
The panel also heard how #Japan’s interest in African mining had ratcheted up and could become an alternative to Chinese investment in certain countries.]
@MiningBookGuyAs for #Nigeria: unfortunately, some very negative news with the kidnappings last week. but it's a very large country, and i believe very different regionally. I think Nigeria stands out in 2 ways:
1. people know next to nothing about it as a mining jurisdiction, and it's inherently risky, even without the government/financial problems which anyone can find in recent news online.
2. it's incredibly exciting as a greenfields opportunity, and there has already been talk about Nigeria improving #MiningCode and brining in foreign investment. the country is surely desperate to replace oil revenues because of the low oil price
so all of this adds to $THX being a very interesting case study, as i've previously documented in the #thor-case-study room
@MiningBookGuyPS - actually something else i just remembered! some of you might not be aware of the #MiningCode room.
I think I'm the only one that's posted in there so far. But it's relevant to @Spire's post and specifically looking into jurisdictions in #Africa. might be of interest!
@MiningBookGuyHere's an excellent quote from today's $ACA.L NR:
Commenting on the West Kenya Project, Cabinet Secretary for Mining, the Honourable Dan Kazungu said, "Kenya is undoubtedly a geologically rich country, and we are taking significant steps, such as the ratification of the 2016 Mining Act, to establish a robust legislative framework to support our developing mining industry. We are excited about the potential of Acacia's West Kenya Project, as it could ultimately lead to the creation of a gold mining industry that would have a benefit to our country, economy and people. We look forward to continuing to work with Acacia and welcome their continued interest and investment in Kenya." #Kenya#gold#Mining#MiningCode
@MiningBookGuyRE-POSTING for proper tagging + comments:
Randgold Resources: Kibali heads for full production @marketwired/randgold-resources-kibali-heads-for-full-production$RRS.L#Randgold#Kibali#DRC#Congo~AUfrica
Very impressive mine...but also a very important #DRC#Congo#MiningCode concern. I will copy the full quote at the end of the NR, this is worth monitoring for ~AUfrica followers:
[It was a source of concern, however, that the DRC government had once again signalled its intention of reviewing the country's 2002 #miningcode with the clear intention of maximising state revenue, Bristow said. This could have a very negative impact not only on the mining industry but also on the economy.
"Now more than ever the #DRC should be focused on retaining its existing investors and attracting new ones. It's certainly not the time to harvest more from less for short term gain. It's my sincere hope that this time round the government will engage the mining sector fully in the proposed review to achieve an outcome that will be in the best interests of the Congolese economy as well as the country's mining sector," he said.
"The existing code is in fact a good one but it is not always being applied effectively and there are still many mining operations that do not operate under the code. There are also a number of issues and challenges which mining companies are having to face which make operating in the DRC more challenging. In #Kibali's case, these issues include more than $200 million in unpaid TVA and duty refunds."]
@MiningBookGuyINTERVIEW: South Africa's Mining Charter raises black ownership threshold to 30%, from 26% https://www.youtube.com/watch?v=U-53XAb4FlU+#SouthAfrica#MiningCode#MiningCharter#Africa~AUfrica
"Between 2012 and end 2016, South Africa's mining sector shed some 70,000 jobs. Last week alone, Sibanye Gold fired another 1,500 for taking part in an illegal strike. With highly controversial provisions, the Mining charter introduced last week may now accelerate that jobs bloodbath at a time when Africa's largest economy, is in a recession. CGTN's Ramah Nyang explored the legality of the charter's provisions, with the Deputy Editor of the Financial Mail."