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Thanks for the informative posts Sidney, much appreciated, everything crossed!
Hi Sooty
I don’t think the port can be priced in... stage 1 in a few years nets us $750m+ a year as it ramps up... AT has already quoted that 3rd party companies will be used as a factory production line to get the ore out of the ground and on its way to the Gabon / port Noire port... a Chinese JV which is what I think is happening will help facilitate all of this... Glencore are purely here as the trading arm...
Enjoy reading around the subject and let’s keep our fingers crossed today...
The press conference started at 10am... same time zone as us... I expect news within a couple of hours of close... 2pm? What I’m also expecting is a name check on Zanaga... job creation is huge here... 750-1000 locals. Very good press for the president... lorry drivers have and are being trained.
yep sounds good - keen to hear the outcome
but this is Africa and news leaks more there than anywhere so a little skeptical this hasn't spiked already if the Port is a go
well, the proof will be in the pudding
This is from Les Despeches de Brazzaville - 18 July 2019 (via Google Translate) implies there will be a press briefing sometime today.
Clement Mouamba facing the press this Thursday
The Prime Minister, head of government, will be this Thursday face
to the press to enlighten the Congolese lantern on the ins and outs of the agreement concluded on July 11 with
the International Monetary Fund. Reacting to this outcome during his stay in Sibiti, in Lékoumou, Clément
Mouamba felt that the hardest is yet to come.
Please correct me if I'm wrong but wasn't there something said that they are starting on the Port in September, this being the case it looks like this could well be the singing before commencement of works?
thanks for sharing
may i ask the source, like to read more about that ?
when is 'the first day' ?
Something else to keep an eye on today... port announcement incoming?
https://twitter.com/sidneysideline/status/1151772641012985858?s=21
DGR, I think it was something rounded like 37 days?!?
Not long to wait. This on twitter this morning:
#WorldBank representative in the #Congo, Ms. Ouattara : The Congo intends to take advantage on the first day, there will be signatures of big projects, she said.#Zioc
Doesn't the IMF agreement take 30odd days to come active?
Patience required, it's all falling into place.
Not looking so bright today is it . . . .
absence of any news from the BOD's or re the Port and we drift back to 6 again i guess or lower
The highs getting lower and the lows getting lower
BOD needs a freaking big shake up to improve their IR
Ex... I really love a film quote... and that was a truly epic and awesome film... as a very good friend of mine used to quote.. ‘a great piece of cinema’...
I hate making mistakes by the way!
Hi Sidneysideline,
…"it’s the Investing in Africa forum later this year... " Not FOCAC.
No worries, your fundamental point applies : Nguesso will be standing up in front of a big crowd of his peers (in all the savoury and unsavoury senses of the word, in all likelihood). He's going to want to have something to show.
For some reason, I'm reminded of the Godfather scene :
"Sonny: Hey, listen, I want somebody good—and I mean very good—to plant that gun. I don't want my brother coming out of that toilet with just his dick in his hands, alright?
Clemenza: The gun'll be there."
I think myself that 'our gun' will be there....
NAI, DYOR etc etc
ATB
99 and all others. My apologies... I have my facts wrong... it’s the Investing in Africa forum later this year...
There’s no excuse apart from I’m away and my notes are at home... the memory is full of stuff and clearly mistakes are made.
Hi Sid
Isn't FOCAC every 3 years (next one in 2021) ?
Afternoon all
So I’m doing a bit of reading between the lines....
The government, major corps, suppliers and industry leaders would have known, a nod or a wink, whether the IMF were going to approve weeks ago... nothing is definite but they would have planned for the positive. Therefore hitting the ground running I expect quite a few local and national announcements this week and next...
They have to take advantage of the 3 years. The ROC people will expect it and his position in government will be at risk if this does not go to plan.
So what does that mean for Zioc?
1 - For me the port is a done deal... it would have been a stipulation, prerequisite, as part of the negotiations.
2 - The railway and other major road networks will see a massive injection... linking DROC... the new bridge.... and other major areas of the country.
3 - Agriculture is a staple of the ROC economy. A local businessman I have been in contact with is adamant this is a primary industry and will need the infrastructure support...
4 - The SEZ, well there are several planned throughout the country, is another opportunity to bring business into the area. Large corps like Glencore will need satellite offices to run their interests... money makes money if done properly...
FOCAC in September is a stage which Ngasso needs to step up to. Corruption is in the veins but massive direct investments will prevent fingers reaching into the tills. Africa and the world will be watching and we already know super powers are queuing to be front and centre... China, America, Russia... A triangle most intriguing. America can’t stand the Chinese getting one up, particularly at the moment with trade tariffs in mind; therefore the Chinese will double efforts to prevent the Americans getting a foothold. America will play the Trump card (apologies) and get their mega cheque books out... Russia are slow and a little blunt and will just steam in with wads of cash. Promise the earth and help any ‘brown envelope deals’... I’d like to say the British would be there but then we are squabbling over our neighbours and worrying about who’s cooking our Indian takeaways!! Sad eh! Oh and trying to save the world...
So in summary a huge step forward has been taken with the IMF decision. Trucking costs and final particulars will be reviewed with Jum bod over the coming weeks... news will drip feed through day by day...
Great time to buy in or top up. For those amongst us who need reminding... this is an opinion.
Happy days...