George Frangeskides, Chairman at ALBA, explains why the Pilbara Lithium option ‘was too good to miss’. Watch the video here.
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Some of you might find this interesting. A BBC2 programme from the 1980s.
The Mayfair Set episode 2 - Entrepreneur Spelt S.P.I.V.mp4
https://www.youtube.com/watch?v=MsgJIpYreis
At 31 mins 20 secs - mining in Africa. At 33m 30s it gets on to gold mining and a tale that I think is relevant to today..
The first episode of this four-part series -
"The Mayfair Set episode 1- Who Pays Wins"
https://www.youtube.com/watch?v=234H8X1-JiA
Also at -
"The Mayfair Set: Who Pays Wins (1/4 BBC)"
https://www.youtube.com/watch?v=b_kE8GczzuA
Go back on this board and read my posts of three or four years ago.
I was very optimistic about the prospects for SHG. The company was well run by good, competent managment and it had ever-expanding resources. Those points are still true, today.
Even perhaps eighteen months ago I was still quite upbeat and hopeful for the sp to rise to reflect, what I saw, as the true value of the company and I was hopeful for a dividend payment..
What have I (and not just me) had in those years of waiting - disappointment - endless disappointment, which is the reason for my cynicism.
You can forget all the analysis - it doesn't apply in the case of SHG.
We will never get the VAT back. The Tanz gov't regards it as its money.
A cynic is someone who tells the truth in a way that others don't like hearing it, especially not liberal bigots.
However, having said all that, at this sp, SHG might be a reasonable gamble.
Thanks for the info.Not got much in here.Have more in Greatland but when you see Aaz shooting up x20,10k investment could be life changing.
GL to you too Mick
ALL African regimes are high risk. Even the largest economy SA, is hardly corruption free or stable
SHG gold is high risk/ high reward.
So never over-invest
GL Islandgirl
I knew he had banned the import of coal but didn't realise he had banned the export of metallic mineral concentrates
Makes me nervous tbh he's so unpredictable!
VAT - It all depends on President John Pombe Magufuli, nicknamed "The Bulldozer".
Five things Tanzania's President 'Bulldozer' Magufuli has banned
5 ) Gold and copper ore exports
In August 2016, Mr Magufuli announced a ban on the export of metallic mineral concentrates.
Miners in Tanzania had been sending heaps of earth containing metallic ore to Asia and Europe for smelting, but the content and quality had always been a contentious issue.
The miners insisted it had a low commercial value.
In March 2017, the country's largest goldminer, London-listed Acacia Ltd, was accused of flouting the ban.
Mr Magufuli ordered the seizure of more than 250 of its containers at the port of Dar es Salaam.
He then formed two teams to investigate the matter. The first investigated the contents of the containers, the second their value.
The two teams then presented "explosive" reports alleging that Acacia had under-declared the value of the ore, skewing the amount of tax it had to pay
Armed with the findings, Mr Magufuli's government slapped the company with a mammoth tax bill of $190bn, covering the 17 years it had been operating in the country.
While Acacia denied any wrongdoing, its parent company Canada-based Barrick Gold, opted for talks.
In October 2017, Barrick offered to pay the Tanzanian government $300m to resolve outstanding tax claims and would share equally any "economic benefits" from Acacia's operations in Tanzania with the government in future.
But a deal has still not been agreed - and negotiations are still ongoing.
https://www.bbc.co.uk/news/world-africa-47334545
SHG only exports smelted gold
HOPE THIS HELPS.....
Thanks for that.A long way to go for SHG you would imagine.Have heard some saying VAT will never be repaid?We are supposed to be debt free by next year but does that presume VAT rebates have been paid?
Net profits ($m) for AAZ were -7.38 3.98 2.52 16.3 for 2015/6/7/8 + forecasts for 2019/20 of 4.3 5.0
Net profits ($m) for SHG were -17.3 -7.97 4.16 7.99 for 2015/6/7/8 + forecasts for 2019/20 of 6.00 16.0
Comparison shows
AAZ capitalisation is twice SHG
AAZ profits to date are better but their forecasted profits ARE NOT!!
For the last full year
AAZ produced 83,736 oz of Gold @ an "All In Sustaining Costs ("AISC") of US$541 /oz"
SHG produced 81872 oz of Gold @ an "All In Sustaining Costs ("AISC")1 of US$701 /oz"
Comparison shows
Very similar output while AAZ extraction costs are 23% lower than SHG
SOURCE..... reliable but costly subscription only
https://www.stockopedia.com/share-prices/anglo-asian-mining-LON:AAZ/
https://www.stockopedia.com/share-prices/shanta-gold-LON:SHG/
SHG is grossly undervalued ........imo due partly to non payments of VAT which could reduce our DEBT (AAZ no debt)