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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.
@MiningBookGuyCocoa Plunge, Mutinous Army May Widen Ivory Coast Deficit https://www.bloomberg.com/news/articles/2017-03-13/cocoa-plunge-mutinous-soldiers-may-widen-ivory-coast-deficit#IvoryCoast#Cocoa
Neither aspect of the headlines is new. However, I was not aware of the following (and likely no one else here is either):
"The budget adjustments come amid a liquidity squeeze in Francophone #WestAfrica’s monetary union after the Dakar, Senegal-based regional central bank tightened access to its refinancing window in December and raised the marginal lending facility rate. As a result, demand at debt auctions is low and Ivory Coast and other countries are struggling to raise funding on the regional market. Last week, the government sold 29.9 billion CFA francs ($48 million) of T-bills out of 50 billion CFA francs on offer."
This is an important quirk of #Francophone#Africa that needs to be monitored.
On the other hand, you get quotes near the end of the article like this one:
"Ivory Coast’s economy expanded an estimated 8 percent last year, according to the IMF, the fastest in sub-Saharan Africa. While growth is forecast at the same level for 2017, it will slow in coming years, according to John Ashbourne, Africa economist at Capital Economics Ltd. in London."
There is a lack of appreciation of #IvoryCoast being a leader in terms of adapting more quickly than comparable African nations from one major revenue-generating commodity to #gold (in #IvoryCoast's case, it's #cocoa to #gold. For most others, it's #oil to #gold).
When it comes down to it, I think #FraserInstitute probably ranks #IvoryCoast higher than it should (though as mentioned before, I haven't researched this ranking enough). But for the most part, #IvoryCoast is vastly underestimated for near-term #gold production AND #exploration ...it has all the elements of becoming THE #gold powerhouse of this cycle...assuming the bad stuff mentioned in this article doesn't ruin it. Probably the most interesting country/jurisdiction I follow. ~AUfrica
@GoldfingerManaged money funds cut their net length in WTI crude $oil futures by 30% during week ended 3/14 but new shorts exceeded long-liquidation by 2:1. Supportive of thesis that ~$47/barrel is a new range low.
@anomalloyWhoo hoo! $PNN hits.065 a minute before the bell. Up 18% on the day. 5X avg volume with rumours of insiders buying and news to come in the next week or two. One to watch. #oil#ninjapicks. (And that's all i'm gonna say about it)
@BSGold price is much less dependent on simple mine supply & demand than other metals (including zinc) because of the large above ground stock. Therefore restarts can work this time around, but #gold price could also drop well below the marginal cost of production for extended periods of time.
That's not the case with #zinc, which is used, not put in a safe or jewellery. For industrial commodities significant increase in supply will likely put a ceiling on prices. Technological advances can have the same result. Look at #oil since the shale revolution
@terrysteenO&G, a little speculation on my part. a question in my mind is why would Saudi like to IPO Aramico? Could it be because they know where the price, consumption and volume are at present and what the long term outlook will be. Suadi has held tightly to there ranking in global supply, biggest player and have profited, financed their country and interest for decades from the cash cow, (oil revenue). One serious political risk is the direct tie to oil set in US dollars, many other countries are trading oil for gold through the chinese. Could spell trouble for the US dollar I am thinking next year. Food for thought, I will not go into oil, wish I had the brains and balls to short! Good gas plays are still OK for after October! #Oil#USD#Gas