Gordon Stein, CFO of CleanTech Lithium, explains why CTL acquired the 23 Laguna Verde licenses. Watch the video here.
Usually, depeches devotes about 1/3rd of coverage to its footballers (domestic and overseas), so clearly important to the national psyche.
https://twitter.com/brazzanews/status/1772998867987906993
This isn't a good look (reported by Brazzanews, not a fan of the regime)
"Congolese players abandoned to their sad fate in Accra in a transient hotel (see photo)
Does the Congolese state still exist? In any case, in this year of youth, young Congolese athletes who participated in the 13th African Games in Accra have found themselves stranded for almost a week in this city due to lack of transport tickets. They are mainly young footballers, semi-finalists, nevertheless put on a mission by the Congolese state. They are today abandoned to their sad fate in a small hotel in Accra resembling a transient hotel and left to starve.
Faced with this sad reality, the Congolese Football Federation has decided to come to the aid of these athletes in distress. She made a money transfer this Wednesday March 27, 2024 to allow these athletes to meet their immediate needs. Furthermore, FECOFOOT has undertaken to pay for the tickets for the return of this delegation. .."
All a bit fin-de-siecle to me.
GLA
.."Everything crossed for this week!!.."
Absolutely - and a short one at that.
GLA and ATB
Australian miners are having a reality check.
The same AFR carries a story re GLEN - 'Australia's biggest thermal coal producer' -rowing back on its coal volumes pledge
https://www.afr.com/companies/mining/glencore-abandons-coal-production-cap-as-another-climate-pledge-falls-
GLEN's position is made complicated by its Teck acquisition - it wants to bulk up then spin off as a discrete business - at least it's acknowledged the issue and SAYS that it's keen to prioritize coal for steel over coal for power.
From the recent Climate Action Transition Plan https://www.glencore.com/publications
...In the event the demerger does not proceed, we will assess how best to integrate the EVR [ Ed.: Teck] assets into our climate transition strategy, recognising that THE TRANSITION AWAY FROM STEEL-MAKING COAL for steel production will be slower than thermal coal, given the important role steel is expected to continue to play in supporting the construction of transportation and renewable energy infrastructure, AND THE EXPECTED LIMITED AVAILABILITY IN THE MEDIUM TERM OF ALTERNATIVE STEEL PRODUCTION TECHNOLOGIES THAT DO NOT REQUIRE COAL."
What else can BHP (to a lesser extent GLEN) realistically do ? Should they follow fads or facts ?
AFAICS
.."I only deal in facts..."
What about your preceding post !
.."Again there is no proof TAG have no money, just the usual suspects on line spouting rubbish..."
The FACT we can all agree on is that TAG hasn't settled its contractual payment obligations to SYME or RTOP , hasn't (so far as we're aware) given any reason for this - and is attracting penal interest for said failure.
We can speculate why that might be.
'Occam's razor' is the argument that ' the simplest explanation is usually the correct one'.
HTH
Depeches has followed up its recent report on rising electricity 'load-shedding' [ great euphemism, btw : makes it sound like there's too much bad stuff !], with a report that the same failure is evident in the capital's water-supply :
DRINKING WATER
Taps running dry in Brazzaville for weeks
In almost every district of the capital, not a single drop of water comes from the taps. Crowds are gathering in front of
boreholes and other drinking water points.
The Congolaise des Eaux (LCD), the company that produces and distributes drinking water is silent about the situation, which which is having a serious impact on household and businesses".
Borehole managers now employ supervisors to prevent overflow. "People rush in, arguments break out to the
to the point of brawls. A 25 litres costs 100 FCFA. I instruct the supervisors to make sure that everyone has
five cans," says Pierre, owner of a borehole.
People of goodwill are offering free water to the population. In this case, the difficulty lies in crowd control.: "I have guards who, from time to time watch over the facilities . The population is free to draw water at any time of the day. At night, the guards turn off the taps", says Dominique.
The lack of drinking water is becoming a recurring to the point where some residents are getting their water from rivers such as the Djoué and Djiri rivers, with the risk of diarrhoeal disease. The time has come for the public authorities, who have invested colossal resources in the sector, are tackling this situation, which is only set to continue."
I'm faintly surprised that Depeches gets away with unfavourable reporting like this.
GLA
Hi Jiving,
If there are any health concerns re Big Den ( the C-B opposition have referred to his UAE visits" to his bankers and his doctors", I'm pretty certain Abu Dhabi (and the Chinese?) would know about it . They probably know more than Big Den himself does ;-<
.."IRH/IHC is the investment vehicle of Sheikh Tahnoun, UAE national security adviser..."
This from 3 years ago :
ttps://www.intelligenceonline.com/government-intelligence/2021/01/27/abu-dhabi-s-spymaster-fashions-local-palantir-20-with-chinese-help,
.."Spotlight | China, Israel, UAE
Abu Dhabi's spymaster fashions local Palantir 2.0 with Chinese help
Group 42, the AI company controlled by Tahnoon bin Zayed Al Nahyan has all sorts of connections with Beijing. [...]..."
ATB
Hedging their bets, I'm reminded that Jindal Group also picked up Vale's coal assets in Mozambique, recently...
https://www.clbrief.com/indias-jindal-group-buys-vale-coal-mining-assets-in-mozambique/
as well as these
https://www.jindalafrica.com/operations/chirodzi/
If you buy the argument that the West wants to disengage from China (in so far as possible), India might well be a beneficiary : not as good as 'on-shoring' or 'near-shoring', maybe the next best thing ?
Geography works in its favour, in a way that it doesn't for China (shipping chokepooints), as does legal system and 'embedded' diaspora ......quite apart from the better demographics.
Ho hum
next q : is dr filippos (see above the share discussion) related to our distressed seller papadopolous in any way ? i appreciate it's a common surname, but....
in another context, of course, you know what they say about ****roaches.....
gla
I get - and got - that.
My observation was more that Papadopolous - the co's largest individual investor - appears not to have told Dav what he was doing / had done, because - if he HAD - Dav would have had to tell the market of a 'material development'.
It's one thing to leak something to the market that should be RNS'd (CEO's , esp the spivvier ones, do that all the time) it's another to CONCEAL something that should be RNS'd.
AIUI
If you read the RNS, you'll see that Herskovic (not Papadopoulos) has sold DOWN, from 23.75% to 7.40%.
You'd think the CEO would have picked up on/been told that (as a courtesy, by his 'good mate' Papadopoulos) if nothing else)......
What a shower!
Jared Dillian's(Mauldin Group) latest comment :
I got this from a reader who recently went to Argentina:
.."I just got back from BA and had a few anecdotes for you.
Not sure when you were last there but aside from Palermo and a couple other wealthy suburbs, the city felt like 70’s New York. People shooting up right outside major tourist sites; not pretty.
More importantly though, we had a guide drive us around and do all the sights for a few hours.
He was clearly a well-educated man and a pretty big Milei fan, but he was really
pessimistic about his chances. He got defeated in the congress the other day and they are just blocking anything he tries.
His bigger issue though was the power of the union in his opinion. He reckoned it is more powerful than the military and that they will have him gone before his term is out.
Apparently Macri is the only non-Peronist to see out a full term in over 50 years!
He thought the next 3 months were critical because the public is still fully behind him but unless he can break some of the union power in that time he will be gone before the end of the year.
Some of the laws there are insane but you probably know about some of them:
You have to pay an employee a full year salary if you fire them. Even if they only turn up to work once. So nobody wants to hire anybody.
And if a tenant stops paying you rent, you can’t kick them out for 6 years!.."
Jared :
"Never said it was going to be easy. It’s hard as crap. But as my man mentions here, Milei has the support of the public. I think it will happen.
Deferring to any of my other subscribers who live in Argentina. We are up significantly on our trades, and while it might be tempting to take profits, if Milei is successful, we will freeroll into 5x returns...."
My note:
-GGAL has progressed from $7 through $9 to $10 as at 12 months ago and today stands at $25.75;
-YPF has progressed from $4 through $4.30 to $ 9.50 as at 12 months ago and today stands at $ 19.98;
One commentator's POV.
FYI, NAI, DYOR
Hi MarkoOiler
I'm quite relaxed about having 'missed out ' on the opportunity to become a SYME shareholder, thanks....and doubt that will change.
Time spent following the story has exceeded Motley Fool ambitions - 'to enrich, inform and entertain'.
Best of luck.
...Guinea - Zogota, ex Niron...Mick Davis (AT's boss) vehicle; and
- Cameroon - talk about a power plant and steel mill at Kribi ( a long time back), using Mbalam-Nabeba....
Never mind 'recycled steel'....the industry seems to attract an awful lot of 'recycled' projects !
GLA
Hi Yogiananda
Do you have a link, pls?
Jindal Group AFAICS has the most advanced would-be 'green ' steel plant in the Gulf (Oman) and has been sniffing around W Africa looking for a supply of ore...Guinea mainly, so far, IIRC.
TIA
IRH/IHC is the investment vehicle of Sheikh Tahnoun, UAE national security adviser; 'power behind the MBZ throne'; and Chairman of ADQ, the entity behind the recently- announced US$ 35 Bn investment in Egypt....
A 'serious player' , in other words;-> !
GLA
This is surreal : an RNS is triggered because of 'connected account' status, when the CEO of a Company remembers to inform his shareholders that the status of a chunk of 'his' own/TAG's shares in SYME that are 'in play' has become uncertain....as of maturity dates LAST June/July.
Somewhat remiss of AZ, surely?
'Right hand, left hand?'
This from a man touted as an expert on regulation.
Well, he's certainly got the measure of the UK regulator, AFAICS.
GLA
And Big Den is looking a bit doddery in this clip of 11 hours ago...
https://twitter.com/brazzanews
As the caption says, 'No comment'.
GLA
Meanwhile, Little Den has just tweeted about his meeting today with Brazil's Ambassador to C-B, ..."to discuss bilateral relations ...and... the different avenues to explore to energize our partnership and give it new impetus.
At the end of this fruitful hearing, we agreed on a set of concrete actions to be implemented in the coming months. The objective is clear: to intensify our exchanges in all promising areas, whether it is the economy, education, culture or even health...."
Thanks for this!
.."UAE-based companies have focused primarily on Africa’s better-developed economies where strong infrastructure and economic expansion are stoking demand for energy, according to Sandile Hlophe, head of government and infrastructure at EY Africa.
They include Egypt, Morocco, South Africa and Kenya, which in February became the sixth country to sign a special free-trade agreement with the UAE, following economic heavyweights like India and Indonesia..."
C-B doesn't meet the first condition (better-developed economy - au contraire, with current news of 'load-shedding' and other signs of mismanagement), but it DOES appear to meet the second - 'special free-trade agreement' - if that's what the recently-signed CEPA amounts to.
https://www.thenationalnews.com/business/economy/2023/12/28/uae-and-republic-of-the-congo-finalise-terms-of-cepa/
AD Ports certainly needs to find SOMETHING to do with its PN port concession.
GLA
Whilst we wait for the kettle to boil, I had a look at GLEN's latest thinking on emissions, as reflected in its just-released 2024-2026 Climate Action Transition Plan, see
https://www.glencore.com/publications
It's already dropped Zanaga from its Resources reporting, per last A/R. On the assumption that any change in stake in ZIOC is likely to be downwards - if not out - that exclusion will presumably continue.
In this report, it specifically excludes 'third-party' emissions caused by anything it sells to others...and it's 'too early to say' anything about the implications of what it might be producing if/when the latest Teck Resources acquisition goes through.
So , all in all, pretty much of a 'nothing-burger' , you might conclude.
The only bits of interest that I saw were (1) its differentiation between thermal and steel coal; and (2) its (implied) view of rate of take-up of 'green ore'.
The relevant bits are :
(Speaking of Teck).."When assessing the merits of the transaction, we acknowledged the important distinction between thermal coal and steelmaking coal. We concluded that while not a metal, steelmaking coal is an important transition-enabling commodity as it is an essential input into much of the world’s steelmaking in its current form. Steel is necessary for constructing transportation and infrastructure such as ocean-going vessels, rail, bridges and buildings, as well as energy transition infrastructure including wind turbines. ....
.....In the event the demerger does not proceed, we will assess how best to integrate the EVR [ Ed.: Teck] assets into our climate transition strategy, recognising that THE TRANSITION AWAY FROM STEEL-MAKING COAL for steel production will be slower than thermal coal, given the important role steel is expected to continue to play in supporting the construction of transportation and renewable energy infrastructure, AND THE EXPECTED LIMITED AVAILABILITY IN THE MEDIUM TERM OF ALTERNATIVE STEEL PRODUCTION TECHNOLOGIES THAT DO NOT REQUIRE COAL."
GLEN's view appears to be sceptical about the short-term impact of hydrogen - whether green, blue , grey or black - forcing mills to 'up their game' in the interim by looking at the other way of reducing emissions materially, DRI with high quality ore.......
On the face of it , then, no adverse implications for a ZIOC/Zanaga deal, AFAICS, if anything some cautious optimism.
GLA