Bloomberg keeps having interesting articles on Africa's chance of getting out of the mire and into the money making business due to foreign investors.
Where the hell are the gamblers in Uganda and IBI?
http://www.bloomberg.com/news/2010-10-24/ethiopian-rose-fields-give-india-billionaires-tips-on-african-buying-spree.html
“Africa looks remarkably similar to what India was 15 years ago,” said Firdhose Coovadia, director of Essar’s African operations. “We can’t lose this opportunity to replicate the low-cost, high-volume model we’ve perfected in India.”
“Africa is seen by the investing community as the last frontier,” said Walter Rossini, who manages $330 million in an India fund at Aletti Gestielle Sgr Spa in Milan. “There is a higher risk, but then there is greater reward if the political situation remains stable over the next 10 years.”
Monday, October 25, 2010
Tuesday, October 12, 2010
From Bloomberg: Exxon, Chevron's Africa Ambitions Face Risk From State Curbs
Is this to scare foreign investors or the beginning of something bullish?
http://www.bloomberg.com/news/2010-10-11/exxon-chevron-s-africa-ambitions-at-risk-as-oil-states-assert-authority.html
From
"Ghana blocked Exxon’s $4 billion bid to buy a stake in the country’s Jubilee field from Kosmos Energy LLC this year. Tullow’s plans to start pumping from fields in Uganda with 1 billion barrels of oil have been held up by a tax dispute. Both countries are set to become major oil exporters for the first time as discoveries are put into production. "
to
"Tullow paid Heritage Oil Plc $1.5 billion in July to take full control of two Ugandan blocks, prior to bringing in China National Offshore Oil Corp. and Total SA as partners. Final approval has been held up until the issue of capital gains tax between the Ugandan government and Heritage is resolved.
“We have major investments all over Africa,” said Aidan Heavey, Tullow’s chief executive officer. “The Ghanaian government and the Ugandan government both have very strong legal systems, very strong tax systems. They follow those and we have no problem with it.”
A little nugget I got out of the article is:
“It’s low cost to enter through exploration awards,” said Martin Kelly, the head of sub-Sahara Africa research at Edinburgh, Scotland-based Wood Mackenzie. “There is plenty of interest.” ...
Dana Petroleum Plc, the recent target of a successful $2.9 billion hostile takeover offer by Korea National Oil Corp., said the best way to profit from African oil is to sell any discoveries.
“You don’t necessarily have to go into full development,” CEO Tom Cross said. “The best way to maximize return to shareholders is to explore in these countries, but to produce cash in more politically stable areas.”
Which again leads me to conclude IBI is dirt cheap if , of course, there is truth under what they represent.
Where are the speculators????
http://www.bloomberg.com/news/2010-10-11/exxon-chevron-s-africa-ambitions-at-risk-as-oil-states-assert-authority.html
From
"Ghana blocked Exxon’s $4 billion bid to buy a stake in the country’s Jubilee field from Kosmos Energy LLC this year. Tullow’s plans to start pumping from fields in Uganda with 1 billion barrels of oil have been held up by a tax dispute. Both countries are set to become major oil exporters for the first time as discoveries are put into production. "
to
"Tullow paid Heritage Oil Plc $1.5 billion in July to take full control of two Ugandan blocks, prior to bringing in China National Offshore Oil Corp. and Total SA as partners. Final approval has been held up until the issue of capital gains tax between the Ugandan government and Heritage is resolved.
“We have major investments all over Africa,” said Aidan Heavey, Tullow’s chief executive officer. “The Ghanaian government and the Ugandan government both have very strong legal systems, very strong tax systems. They follow those and we have no problem with it.”
A little nugget I got out of the article is:
“It’s low cost to enter through exploration awards,” said Martin Kelly, the head of sub-Sahara Africa research at Edinburgh, Scotland-based Wood Mackenzie. “There is plenty of interest.” ...
Dana Petroleum Plc, the recent target of a successful $2.9 billion hostile takeover offer by Korea National Oil Corp., said the best way to profit from African oil is to sell any discoveries.
“You don’t necessarily have to go into full development,” CEO Tom Cross said. “The best way to maximize return to shareholders is to explore in these countries, but to produce cash in more politically stable areas.”
Which again leads me to conclude IBI is dirt cheap if , of course, there is truth under what they represent.
Where are the speculators????
Monday, October 11, 2010
Shouldn't this make other Aluminum processors more valuable?
Mal spokeswoman Andrea Nemeth wasn’t immediately available to comment when called by Bloomberg. The company is Hungary’s only alumina refiner and the country’s second-largest enterprise in the aluminum industry, according to its website. Mal employs 1,100 people in and around the Ajka refinery and exports 80 percent of the alumina it produces, which accounts for 12 percent of the European market, it said.
Vermiculite in Uganda
Vermiculite production in Uganda to increase farmer access to fertilizer.
http://www.africanagricultureblog.com/2010/01/vermiculite-production-in-uganda-to.html
http://www.africanagricultureblog.com/2010/01/vermiculite-production-in-uganda-to.html
Friday, October 8, 2010
New website for Gulf
http://gulfindustrials.com.au/
Not only that it is in bright green which implies "saving the planet one leaf at a time"
So you are going to get enviromental and feel good investors taking a stab at this cheap baby.
So you got to be in the shares before they pop.
The website went from drab blue to bright green so management sees a future here. Or at least higher stock prices which is good for the venturesome.
Not only that it is in bright green which implies "saving the planet one leaf at a time"
So you are going to get enviromental and feel good investors taking a stab at this cheap baby.
So you got to be in the shares before they pop.
The website went from drab blue to bright green so management sees a future here. Or at least higher stock prices which is good for the venturesome.
Why Uganda?
From http://gulfindustrials.com.au/?page_id=90
Good investment opportunity for mineral wealth – Uganda presents a good investment opportunity in terms of mineral wealth due mainly to three reasons: lack of investment in the past has left most of Uganda under explored leaving large areas of virgin ground untouched; the diversity of Uganda’s geology presents the opportunity for a wide range of possible metallic and non-metallic deposits to be developed; and due to active steps taken recently by the Uganda Government to encourage investment in the country’s mineral sector.
Uganda has a well developed road and rail network connecting it to all surrounding countries, most importantly to the Indian Ocean ports of Mombasa in Kenya and Dar es Salaam in Tanzania. The country has a pleasant climate despite its equatorial position largely due to its overall higher altitude. Uganda also received adequate annual rain fall for all its needs.
According to the census of 2002 the population of Uganda was just over 24 million people of which 84% were Christians. School in Uganda is free, and Uganda has one of the highest attendance rates in Africa with over 70% of all children attending classes.
Good investment opportunity for mineral wealth – Uganda presents a good investment opportunity in terms of mineral wealth due mainly to three reasons: lack of investment in the past has left most of Uganda under explored leaving large areas of virgin ground untouched; the diversity of Uganda’s geology presents the opportunity for a wide range of possible metallic and non-metallic deposits to be developed; and due to active steps taken recently by the Uganda Government to encourage investment in the country’s mineral sector.
Uganda has a well developed road and rail network connecting it to all surrounding countries, most importantly to the Indian Ocean ports of Mombasa in Kenya and Dar es Salaam in Tanzania. The country has a pleasant climate despite its equatorial position largely due to its overall higher altitude. Uganda also received adequate annual rain fall for all its needs.
According to the census of 2002 the population of Uganda was just over 24 million people of which 84% were Christians. School in Uganda is free, and Uganda has one of the highest attendance rates in Africa with over 70% of all children attending classes.
Thursday, October 7, 2010
Finally
Finally gold and silver are performing like they usually do: get you excited then dash your hopes of sudden riches.
Of course, maybe that was in the past and the intraday reversal will reverse again up.
Look at the Ozzie for a good example.
Lets see.
Of course, maybe that was in the past and the intraday reversal will reverse again up.
Look at the Ozzie for a good example.
Lets see.
Sunday, October 3, 2010
Why invest in Africa (from Jim SInclair)
This was taken from Jim Sinclair's website www.jsmineset.com
It's very frustraing not presently making windfall profits in the penny stock miners, but frustration won't help you just patience.
Dear CIGAs,
When we were all sitting on the veranda of the office, one leg of the plastic chair I was sitting on collapsed. Now no one can say I do not bend over backwards for CIGAs.
I have travelled from the bush to Mwanza on Lake Victoria and am now on to Dubai, followed then with a 14 hour flight to New York.
It is very hard to leave Tanzania. The sincere respect shown to me there cannot be equalled anywhere.
I spent this morning with the Dar Stock Exchange. It was so thrilling to hear Tanzania in open outcry trading of the companies active here.
In time there will be great profits made with these national exchanges as they become private and Africa grows. For those that doubt this growth, you should have been with me in India in 1985. The idea that the hoards of multi millions in abject and grinding poverty would ever enter a consumer economy appeared then totally impossible. Look at India now.
There are 900,000,000 people in Africa that will build a vibrant consumer industry as has India and other Asian nations.
Africa is rising, of that I assure you.
Asanti Sana,
Jim in Dubai
It's very frustraing not presently making windfall profits in the penny stock miners, but frustration won't help you just patience.
Dear CIGAs,
When we were all sitting on the veranda of the office, one leg of the plastic chair I was sitting on collapsed. Now no one can say I do not bend over backwards for CIGAs.
I have travelled from the bush to Mwanza on Lake Victoria and am now on to Dubai, followed then with a 14 hour flight to New York.
It is very hard to leave Tanzania. The sincere respect shown to me there cannot be equalled anywhere.
I spent this morning with the Dar Stock Exchange. It was so thrilling to hear Tanzania in open outcry trading of the companies active here.
In time there will be great profits made with these national exchanges as they become private and Africa grows. For those that doubt this growth, you should have been with me in India in 1985. The idea that the hoards of multi millions in abject and grinding poverty would ever enter a consumer economy appeared then totally impossible. Look at India now.
There are 900,000,000 people in Africa that will build a vibrant consumer industry as has India and other Asian nations.
Africa is rising, of that I assure you.
Asanti Sana,
Jim in Dubai
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