Member Info for extrader

Ashmore comment (summarised) :

.."Argentina: President Javier Milei was sworn in on Sunday in front of a rapturous crowd that cheered as he promised radical government spending cuts.

He received unqualified support from former president Macri.

Ed.: Cristina Kirchner showed her cl*ss by raising her middle finger to the crowd.

Milei also announced the nomination of Santiago Bausili as governor of the central bank. Bausili is a former debt capital markets banker and close associate of finance minister Luis Caputo, and while his appointment should be welcomed by financial markets, he will have the unenviable task of announcing a meaningful devaluation in the peso’s official exchange rate – currency forward markets are already pricing a 45% devaluation.

Caputo is expected to announce further details of the government’s fiscal plans during a press conference on Tuesday...."

GLA ...esp the Argentinians

Thanks alwayshoping!

Some flavour

.."Saudi Arabia Raises $11 Billion Loan to Help Fund Deficit

It’s biggest syndicated loan for a government this year

SIX TOP CHINESE BANKS make up majority of lender group..."

Also worth noting that aprt from ICBC on the Chinese side, Citi (US), HSBC (UK/China) and First AbuDhabi were the main lenders....which may suggest that Saudi / UAE rivalry isn't necessarily an obstacle to working together when it suits...

GLA

‘One more week’ would give AT a bit more time to polish up his presentation!

More seriously, at some point you’d expect some price-affecting news to leak out…surely better a ‘managed release’ at a time of the co’s choosing than a post- fact rationalisation?

AFAICS

Many thanks for this!

Certainly full of facts and ideas...and even some that may work!

His Ground.News analysis prog is an interesting idea, too.

He needs a proof-reader - confuses the late Queen with Margaret Thatcher ....and , more unhelpfully, near the end Milei with Macri on a couple of occasions ;-<

His mention of special $ schemes - Malbec$ for wine exports, Qatar$ so people could go to the World Cup and Coldplay$ so fans could hear Coldplay in-country - show some of the craziness that Argentinians already have to put up with...

The 'currency board' halfway house proposal MIGHT - per Boyle - be a workable compromise to the stated policy position re the Central Bank : emasculation instead of demolition.....

AIUI

Hi atg,

Welcome back! I haven't seen your posting for a while.

On looking back, your history shows several recent ZIOC posts that I appear to have missed eg 7Nov @ 10:16 reply to a thread re 'costings' that seems to have disappeared from the board.

Your reply suggested confusion between DRC and C-B.

What was that about, pls?

Cheers

Methane hits the mainstream again

The Economist

The importance of reducing methane

Our podcast on science and technology. This week, we take a closer look at an agreement made at COP28 to reduce a powerful, but overlooked, greenhouse gas

'Every little helps'

GLA

Re China's position in the league table

.."Renewable-energy superpower China has not made it into the 2030 top ten list, mainly due to Beijing’s current targets.

“The Chinese government has set a target of 200,000 tonnes of green hydrogen being produced annually from 2025. That means their target is nowhere near the 10 million tonnes production target in the EU, and the US is planning around the same amounts,” explains Le..."

Hi MM,

I 'think' that the answer may lie in the choice of energy input.

The article talks of Simandou ore in the context of green hydrogen.

https://www.hydrogeninsight.com/production/exclusive-which-ten-countries-will-be-the-biggest-producers-of-green-hydrogen-in-2030-/2-1-1405571

These countries mostly overlap with SCMP's stated destinations, viz US and Europe...

I may be approaching the question from the wrong direction, but it seems to fit. Although I hadn't thought of Spain, Egypt or Morocco as being high on the list- all that solar, I guess. But then, where's Norway's hydro...???

HTH anyway

.."These share purchases satisfy the deferral of 50% of the annual bonus for Executive Directors earned in respect of the Company's financial year ended 30 September 2023, as set out in the Annual Report and Accounts and as required by the Directors' Remuneration Policy..."

They couldn't buy back then, AIUI.

Quite!

Given the questionable legal standing of some other mining projects, any private sector investor might be interested in the Multilateral Investment Guarantee Agency programme (MIGA), part of the World Bank.

"MIGA offers insurance to cover five types of non-commercial risks: currency inconvertibility and transfer restriction; government expropriation; war, terrorism, and civil disturbance; breaches of contract; and the non-honoring of financial obligations.."

The Scots word 'timeous' might be appropriate here.

ATB

An SWF would presumably use other avenues to assert its rights...but they're less likely to be challenged in the first place.

Latest yweet

.."I had an important meeting, this December 6, with Ms. Louise Pierrette Mvono, resident representative of the

@Banquemondiale in Congo. We discussed our plan to join the G20 Compact With Africa initiative, which can help our country attract foreign direct investment.

Through this meeting, we began the first step of our accession process, which consists of establishing strategic contacts with leading multilateral financial institutions, such as the World Bank, the IMF and the AfDB. A technical meeting will be held soon between the government and these institutions to continue the process underway.

Ms Mvono insisted on the fact that joining the G20 Compact With Africa is a great opportunity for Congo. This will improve our economy and make our country more attractive for business. Indeed, this platform does not just encourage investments; it will also support us in improving our macroeconomic framework and our business climate...."

Better late than never...

And a bit more recent news/numbers

https://www.reuters.com/world/africa/cameroon-start-building-railway-disputed-iron-ore-project-august-2023-06-07/

plus update of interim judgments

https://www.sundanceresources.com.au/irm/pdf/1c87b1ba-6318-4f2a-8cfc-ddd90a977bbd/Update-on-Legal-Proceedings-against-Congo-Cameroon-and-AustSino.pdf

Sundance is bankrolled by Burford (BUR) which has just been awarded a $16Bn judgment against Argentina for expropriation of YPF oilco.

Let's see how this plays out.

But it all strengthens the case for a 'clean licence' ZIOC...

ATB

Interesting!

For context, see https://www.sundanceresources.com.au/irm/content/the-mbalam-nabeba-project.aspx?RID

There's a discrepancy over distances involved and amounts mineable; quality back then was 62%; at least the $$$ now are more ball-park, the earlier claim by Sangha Development was $10Bn...for what they said would be their first project.

If nothing else, this should get anyone interested in ZIOC busy sharpening their pencils!

And draw some more PI attention , perhaps?

GLA

It's actually the brand name -become-generic for those machines that go round ice-rinks between sessions, see

https://zamboni.com/

Actually, both Zambonis seem to be resourceful/creative : this Zamboni, Frank, based in sunny California, was originally in the ice-making business (for 'adult' beverages, etc).

With the advent of fridge/freezers, he re-invented his business into scraping slush off ice-rinks.

“THE PRINCIPAL PRODUCT YOU HAVE TO SELL IS THE ICE ITSELF.”— FRANK J. ZAMBONI

An 'entrepreneurial' gene it would seem !

NAI, DYOR etc etc

ATB

.."That equates to more like £5 a share, which just happens to be Elphick's rumoured target price..."

If you don't have to kill me afterwards, could you share (even roughly) the source/basis of the rumour...?

TIA

Correction : under the headline 'World Bank reiterates its support for Congo', depeches de brazzaville confirms the extent of WB support for 'transformative projects in developmental sector - education, welfare, health, agriculture, good governance and promotion of the private sector'.

I heard $5 million, voiceover reported $ 5 billion, turns out we were both wrong.

Printed figure is $100million (which makes more sense, $5 million would be insultingly low), I misheard 'cent' for ''cinq'. An easier mistake than 'milliards' for 'millions'.

ATB

Jiving has alluded elsewhere to the reported delays in receipt of funding from RioTinto's Chinese partners.

Perhaps this isn't Simandou-specific : today's FT carries a headline

.."Gulf funds increase investment in south-east Asia as China retreats

Sovereign funds from Saudi Arabia, the United Arab Emirates and Qatar are making deals in rare bright spot for region.."

followed by news of the launch in HongKong of a Saudi -specific PIF-backed ETF

.."Asia’s first Saudi Arabia ETF lists on Hong Kong stock exchange

Saudi Arabia’s $700bn sovereign wealth fund has been named as an anchor investor in the fund..

Asia’s first exchange traded fund investing solely in Saudi Arabia’s equities market has listed on the Hong Kong exchange attracting $1bn in initial investment, marking one of the territory’s largest ever debuts..."

All helpful tailwinds for ZIOC's prospects, AFAICS.

ATB

And, to further muddy the waters, all of this financial jiggery-pokery will be overseen by an incoming CFO, who is also made head of Compliance AND Company Secretary....

For a supposed expert on all matters regulatory, AZ is certainly creative in how he interprets them.

AFAICS

And, to further muddy the waters, all of this financial jiggery-pokery will be overseen by an incoming CFO, who is also made head of Compliance AND Company Secretary....

For a supposed expert on all matters regulatory, AZ is certainly creative in how he interprets them.

AFAICS

On a side-note, here's a link to a clip showing something of Milei's style and way of thinking.

https://ifunny.co/video/javier-milei-explains-why-printing-money-hurts-the-poor-the-e0ndMdK0B?s=cl

I can understand the electoral appeal...

ATB