Cobus Loots, CEO of Pan African Resources, on delivering sector-leading returns for shareholders. Watch the video here.
HtTps://www.youtube.com/watch?v=FO8oemodXZM&list=PLE1y8hGSqr8ar1gKUdfqFDK5ygLIlrdmz&index=1&t=2s (live from the vault)
12.02 to 15.13 (roughly) average 14 tons of bullion outflow per day!
If this is true cannot see them being able to hold the 2000 to 2050 range for long especially when you factor in other central bank buying and that China is the biggest gold producer and has an export ban on gold and obviously Russia will try to hold onto most or all of its gold production.
Only play I can see is them letting gold prices up in steps otherwise they will be totally drained of gold. Even that has its drawbacks as obviously if people see gold steadily going up they will become more interested in investing in gold especially if there is a slump sometime this year in other sectors.
Likely that they will be able to just let gold step up for while then the price will just get away from them and go through the roof.
Were doomed, doomed i tell ya https://www.youtube.com/watch?v=WNNRL_IB9m0
"Detailed definitive agreements for the project financing are in near-final form with contractors, equity investors and government agencies. Those for the lenders have also been drafted, but await credit committee approval by the co-lender before finalisation. " https://www.kefi-goldandcopper.com/files/announcements/kefi-operational-update-q4-23-final.pdf of course might be a bit of a shame if the bears get caught out but think I can live with that.
Looked at page 11 of 2014 annual report map of mine site it shows mine camp and admin in the SSE corner the furthest away from Guji (which is largely to northwest or west). Mine camp on the map is next to where the power comes in and air strip is now.
htTps://www.kefi-goldandcopper.com/files/reports/kefi_minerals_annual_report_2014.pdf
Which is the same as htTps://www.kefi-minerals.com/expo-presentation/addis-adaba
So mine camp is shown on both 2014 and this years camp as South east of planned open pit (which is the TK hill) not on the hill itself.
obviously if you are going to dig the area up you are going to clear the area. So actually looks like progress.
Https://miningindaba.com/sponsor-list/allied-gold-corporation (Ethiopia mining)
https://news.cision.com/akobo-minerals-ab/r/akobo-minerals-secures-a-nok-6-million-bridge-loan--pdmr-notice-,c3925302 (Ethiopia mining)
https://addisstandard.com/news-sun-peak-metals-set-to-resume-exploration-at-shire-project-site/
https://www.trtafrika.com/business/lobito-corridor-us-pumps-more-funds-into-rail-link-to-africas-copperbelt-16904977 (AFC/Copper)
"With the Africa Finance Corporation (AFC) as the private-sector lead developing the project, we aim to break ground in 2026 and have an operational rail between eastern Angola across northwestern Zambia by 2028," he said.”
https://www.royalroadminerals.com/ (Saudi mining)
Https://www.arabnews.com/node/2455931/saudi-arabia (indaba/saudi mining)
https://bnnbreaking.com/finance-nav/saudi-arabia-and-london-metal-exchange-ink-deal-to-boost-25-trillion-mining-sector
https://www.bnnbloomberg.ca/saudi-arabia-s-modern-mills-to-sell-30-stake-in-riyadh-ipo-1.2031776 Saudi ipos
Https://www.northernminer.com/news/sun-peak-shares-rise-as-it-looks-to-resume-exploration-in-ethiopia/1003863657/
Sun Peak’s plans come as other companies including Allied Gold (TSX: AAUC) and Kefi Gold and Copper (AIM: KEFI) also seek to restart their projects amid the post-war climate. Allied aims to build its US$500 million Kurmuk gold mine, while Kefi is preparing to build the US$320-million Tulu Kapi gold mine, both in western Ethiopia.
The company noted that it recently completed an extensive security and safety assessment that confirmed low levels of risk in the licensed area and for the type of exploration drilling planned.
(sun peaks) Company shares were up 44% to 47¢ apiece before markets closed on Wednesday, valuing the company at $40.9 million. Earlier in the day they were up 50.3 to 50¢ apiece, a new 52-week high and the highest since early 2021.
https://finance.yahoo.com/news/sun-peak-metals-provides-corporate-120000226.html
Https://saudigazette.com.sa/article/640242
Minister of Industry and Mineral Resources Bandar Alkhorayef said that Saudi Arabia has concluded an agreement with the international metal trading company London Metal Exchange to establish warehouses and delivery centers for its metals in Saudi Arabia. “The Kingdom has worked to establish a very large base for the military industries sector, and the Public Investment Fund (PIF) is an important partner in this respect,” he said while attending the second edition of the PIF Private Sector Forum in Riyadh on Tuesday.
The minister said that Saudi Arabia is one of the most important regions in the world to invest in the mining sector directly and in related sectors, and it has become an important station to attract the world to discuss the challenges and opportunities of this sector. He pointed out that there are great job opportunities with the PIF in most sectors, especially with the Fund’s role in the main sectors that need its support because they require large capital and will create a high level of demand and job opportunities.
https://www.arabnews.com/node/2455311/amp Saudi mining
Https://gfmag.com/economics-policy-regulation/dubai-mercantile-exchange-saudi-tadawul-group/
Riyadh wants to bolster its position in global commodities markets.
Saudi Tadawul Group, which runs Saudi Arabia’s main stock exchange, is set to buy a 32.6% stake in the Dubai Mercantile Exchange (DME).
“[It is] solidifying their position as the major economy in the GCC and ensuring a route to market for both today’s and tomorrow’s commodities—today primarily oil, but tomorrow will include the outputs of mining and industry,” says consulting firm Publicis Sapient’s Senior Vice President Joseph Tabita.
https://www.thenationalnews.com/business/markets/2024/02/06/can-gcc-markets-sustain-the-ipos-momentum-in-2024/
Not anywhere near TK hundreds of miles away if you look at the map and strangely you missed this bit out on that page.
https://epo.acleddata.com/2024/01/31/epo-weekly-update-30-january-2024/
Following a Prosperity Party Central Committee meeting last week, Oromia regional President Shemelis Abdissa hinted that “the government is ready to continue the peace talks” with the OLA/OLF-Shane.8
However thanks for demolishing your own argument.
Had the same alarmist headlines from people with axes to grind over when Ethiopia wanted a port through Eritrea what happened in the end nothing Zero Zilch. As for Somalia it has had to have Ethiopian troops on the ground in its country to prop its government up. The Mou itself was already supposed to be confirmed by now so might or might not happen. As for Amhara its amhara not Oromia and no one expected the state of emergency to lifted.
OLA been around since 1974 and has already had two rounds of peace with the government last year and would expect more talks this year.I would not be surprised if the closing of a few roads temporarily was not part of the prelude to another set of talks.
I assume all this desperate posting from TCM means he is panicking over second bank sign off?
The difference is finding the info yourself instead of just continually ripping off other posters after they have already lost the argument anyway. Though i can see why you would be annoyed after a run for the hills headline then the UAE is going to invest a couple of billon dollars in Ethiopia its almost as if they know something you don't which i guess covers a lot of ground.
United Arab Emirates Special Envoy and Plenipotentiary Ambassador, Omar Hussain, has announced a significant investment exceeding $2.4 billion in Ethiopia. In an interview with the Ethiopian Press Agency, Ambassador Hussain detailed the substantial investments that the United Arab Emirates is presently channeling into Ethiopia, reaffirming their dedication to stimulating economic advancement.
Ambassador Hussain underscored the geographical proximity between the two nations, which are just a four-hour flight apart. He highlighted Ethiopia's manufacturing capabilities and the Arab countries' consumption capacity, positioning Ethiopia as an appealing market destination.
At the COP28 UN Climate Change Conference in #Dubai, the UAE committed to a $600 million investment in Ethiopia's energy sector. During the summit convened in November 2023, Prime Minister Abiy Ahmed engaged in discussions with United Arab Emirates President Sheikh Mohammed bin Zayed Al Nahyan, underscoring the imperative of collective action in addressing the challenges posed by climate change.