Member Info for TheCondorMan

That'll teach them recommending KEFI. Have a gander at WHI share priced today. Rescue placing announced. I blame KEFI... anyone that touts it, is doomed.

The birr has devalued over 40% in nearly 18 months. That's even under currency controlled measures. For ethiopia to get any sort of substantive external help - they are required to free float the currency and let it devalue much more.

"negotiations between the government and Bretton Woods institutions include discussions about the need to devalue the local currency. Experts from the World Bank and the International Monetary Fund (IMF) are pushing for a higher devaluation, while government officials are skeptical due to concerns about inflation and increased government expenditure. The last devaluation of the birr occurred in October 2017, amounting to approximately 15%

“As the gap between the official and parallel markets continues to widen, the available options for the government are becoming scarce.” ."

That is going to result in the current leaky umbrella contract to be put under massive stress with a birr mega devaluation, so a demand for revision of the figures involved in the agreement - much much higher.

“The economic mismanagement has destroyed the country,” = CORRUPTION

https://addisstandard.com/news-analysis-ethiopias-birr-plunges-as-currency-crisis-worsens-posing-serious-challenges-for-economy/

Analysis: Ethiopia’s birr plunges as currency crisis worsens, posing serious challenges for economy

Addis Abeba – The local currency, the birr, has been experiencing a long-standing decline in value against major international currencies, most notably the US dollar. However, the current state of affairs has reached unprecedented levels, with the exchange rate soaring to unparalleled heights. With the official rate currently hovering around 55 birr per dollar, the scarcity of hard currency has now driven the black-market value of a dollar to exceed 110 birr. This exorbitant premium of over 100% marks a significant occurrence in the nation’s economic history.

Ethiopia is among the countries globally grappling with a substantial decline in its currency’s value. Recent data from the Troubled Currencies Project, which tracks exchange rates in black and spot markets, reveals that the Ethiopian birr has depreciated by nearly 40% against the US dollar since January 2022.

“The economic mismanagement has destroyed the country,” Steve H. Hanke, a renowned professor of applied economics and director of the Troubled Currencies Project, tweeted a month ago.

Vile government, vile leader. Kefi contributing to propping up a vile and corrupt regime.

https://www.theguardian.com/global-development/2023/jul/18/an-indifferent-world-looks-on-as-ethiopia-obstructs-justice-for-tigray

The 6 million people who suffered war crimes will see no accountability while the EU and US restore relations with a government that fosters impunity

Addis Ababa has pulled out all the stops to curtail the work of the ICHREE. It was established halfway into the war, but the government refused to grant investigators access into Tigray. Its subterfuge does not end there. Citing sovereignty, it mounted a diplomatic campaign at the UNHRC to prematurely terminate the commission’s mandate. Those efforts have tragically proved successful.

This leaves accountability – and the prospect of preventing impunity – in the hands of an Ethiopian government that, all signs indicate, intends to evade rather than ensure. That’s no surprise: the vast majority of crimes were committed by members of its own army as well as its allies. Tigray People’s Liberation Front (TPLF) fighters also committed war crimes.

The biggest garbage poster is you with your endless copy/paste trash. anything and everything gold / Ethiopian related is dumped on the boards ... but that's fine because its all uber positive for goatie. the reality is... anyone who posts persistent negative views is banned with the moron making up some idiotic reason for the ban. Harry must love sycophants like you and goatie.

May be tell that to your goatie friend who loves to ban and moderate posters at will.

"If he is a right wing loony so is most of the UK population."

if this is the sort of deduction skills you adopt, then no wonder you are knee deep in this pos

This is the same winnifrith who's been saying the same since he first tipped it over 8 years ago. Repeating the same line, even after sitting on >90% loss from his original "strong buy" price.

He's an emotionally unstable ranting idiot.... an ultra right wing loony at that

Robj aka copy / paste bandit = the perfect example of an empty vessel making the most noise

"Gold production will commence in 2017. "

"The launch is scheduled for the end of the Ethiopian wet season in October 2021."

You have to ask yourself where are they going to get their share of the funding from ? as the warrants are pretty much way out of the money. Answer = hefty dilutive placing.

Same was said about not going below 3p, 2.5p, 2p, 1.5p, 1p, 0.75p.... i'm sure you or someone like yourself will say it wont go below 0.4p when 0.5p is breached.

"Trigger full Project construction in the Ethiopian dry season starting in October 2022"

“All parties are focused on construction start-up in early 2019 and first production in the second half of 2020.”

From progressive's research report pdf 2021 :

Fiscal regime

Mongolia has a relatively benign fiscal regime for conventional oil production. There is a

government royalty (5% - 15% dependent on the PSC) which is deducted from the gross

revenues. The contractor is then able to recover the development and operating costs (Cost

Recovery). This is capped at 40% of net revenue (after deducting the royalty and

transportation costs). This will prove to be more attractive for contractors at higher

production levels. Any costs that are not recovered can be carried forward indefinitely. The

revenue after the cost recovery (Profit Oil) is then split between the government and

contractors. This varies for a contractor share ranging from 45% to 60% and is dependent

on the level of production and the PSC. There are some bonuses to be paid but these are

modest but are not cost recoverable. The conventional exploitation licences have an initial

term of 25 years with the potential of two five-year extensions.

Gazelle I think is potentially 500mboe in place and 200m recoverable

Stfu .. if you dont like it here fo

The irony of your post is lost on you. bigging up iom with all your experiences yet implying the opposite for mongolia even whrn u haven't resided there. pretty arrogant and pompous.

But you don't so stfu!