Adam Davidson, CEO of Trident Royalties, discusses offtake milestones and catalysts to boost FY24. Watch the video here.
Also this MinorMiner: Congo Brazzaville Prime Minister Clement Mouamba flew to Beijing on July 20th 2018 to meet with Chinese Vice President Wang Qishan. “accelerate the realization of the "Belt and Road" initiative” http://world.people.com.cn/n1/2018/0724/c1002-30165873.html
Hi Neil. The telling thing for me is that CLP stated in the RNS that they will not be bidding in the auction. Legally they can do this but have chosen not to. We need to ask why have they chosen to do this? If they were worried about land going for bare minimum then IMO they would be making a bid to make sure they can get their hands on it and it is not sold cheaply. Also, maybe they are not bidding on it as they know someone is making a decent offer. In 2014 we know there was a bid for the land. It was €20 million (€13 million to pay off debt and €7 million to CLP) Now we know debt is pretty much all paid off. Said interested company above were prepared to pay €20 million for it before. They could put a bid in for €7-10 million and be paying much lower than they were prepared to before. Also CLP happy as they will be getting more than minimum bid as stated in previous RNS. Alternatively CLP are not making a bid as they are confident that land will be reassigned to them prior to auction and can sell the land on their own terms to a buyer already lined up.
Thanks so much Max
Absolutely cracking RNS today. Real progress being made and FG is doing a sterling job. Sardinian villas still ours. All to play for and SP has been suppressed so much there is a long way to go for this to be a true value
https://twitter.com/zanaga_iron_ore/status/1014807373398069249?s=21
Also this interesting tweet today as well: https://twitter.com/afrorailbus/status/1014617333002899456?s=21
A lot is going on behind closed doors and as we all know the port is thing that will get things moving here. As per recent RNS: "CURRENTLY ENGAGED in a dialogue with Chinese institutions on the financing of this significant port development." "have been informed that CRBC is engaged in discussions with Chinese funding institutions, particularly China EXIM Bank, in respect of the financing of the proposed new port development." ---------- From the China Communications Construction website. (Parent of CRBC) http://www.ccccltd.cn/news/gsyw/201806/t20180617_93057.html Talks about Wang Yang visit. But also interestingly.... "Liu Qitao, Party Secretary and Chairman of the China Construction and Construction Committee, accompanied the President of the Congo (Brazza), Sassou, Prime Minister Muamba, National Assembly Speaker Mvuba, and Senate President Ngoro, and presided over the China Congo Cooperation and exchange meeting between industrial and commercial entrepreneurs of the two countries." Port financing very soon imo
We have 10 villas, 4-6 bedroom.
A 4 bedroom property in this complex is listed for €1,286,000.
6 bedroom I am guessing will be around €1.7-2.0 million as a 3 bedroom in same complex is €730k.
Here are some photos in this link below. (The photos of the villas are not on the CLP website anymore but they were last year. I saved the photo of the swimming pool area and did a reverse google image search to find the name of the timeshare complex).
https://www.immobiliare.it/34538898-Vendita-Quadrilocale-nuovo-primo-piano-Arzachena.html?utm_source=trovit&utm_medium=aggregatori&utm_campaign=feed
Afternoon RKB.
Thanks for the post, very positive indeed.
I sent an email to PR and he said final results will be out today.
Morning MinorMiner. Yes I spoke to Mr Moungalla directly yesterday. For those that don't know him, he is Minister of Coominications and Media and also is the Congolese Government Spokesman. I congratulated him on the RoC finally getting the meeting with the IMF board of directors sorted. To get to the board of directors, lower level discussions have had to have been completed. External debt was a big thing that the IMF wanted the RoC to tackle. (Glencore/Trafigura and China). I believe these external debt nogotiations to have been competed already (hence IMF board of directors meeting). I wonder what Glencore and China could possibly want when they were restructuring their debt with RoC? Also diversification of the economy was another sticking point for the IMF. The mineral port (as discussed by previous IMF and World Bank communications) is the most important way in achieving this. Info is all out there folks. It takes time and many hours of research to piece things together but is well worth it to stay ahead of the game.
Morning allthatguff. Very positive indeed! IMF board of directors to meet. "However, before it could submit a deal to the board, the delegation said Congo would need to fulfill conditions including making progress towards restructuring debt the Fund considered unsustainable." Looks like external debt has been restricted as well then!
Yes excellent news indeed MinorMinor. It will also unlock funds from the World Bank as well. Also other recent news hinting at financing for mineral port is upon us... ----------- 1) 25th June 2018 (Xinhua) "Denis Sassou-Nguesso, President of the Republic of Congo, said the ten cooperation projects proposed by China had been "RESPECTED AND HONOURED", while the cooperation between the Republic of Congo and China was a microcosm of this partnership." "According to official data, in March 2018, more than 90% of the financial support promised by China, whose volume is $ 60 billion, had been GRANTED or programmed. A large number of projects, including infrastructure, industrial parks, SPECIAL ECONOMIC ZONES and industrial production projects, have been commissioned." http://french.xinhuanet.com/2018-06/25/c_137279175.htm -------- 2) June 5th 2018 REPUBLIC OF CONGO: THANK YOU TO PETROLEUM AND CHINA! "The opening of a free zone in the region of Pointe-Noire, financed by China and SOON INAUGURATED at the China-Africa 2018 summit should promote the diversification of the economy around petrochemical, tourism and agro-food activities." "Ongoing negotiations with the IMF to allow the Congo to join a new program of the fund suggest a further improvement of the public accounts in 2018." http://www.leseco.ma/les-cahiers-des-eco/afrique/237-le-marche-de-semaine/67121-republique-du-congo-merci-au-petrole-et-a-la-chine.html --------- 3) June 14th 2018: CRBC Chairman Lu Shan with Congo Brazzaville Minister Jean Jacques Bouya, Chinese Ambassador Ma Fulin discussing financing of Pointe Noire Mineral Port. http://crbc.com/site/crbc/274/info/2018/46882202.html
25th June 2018 (Xinhua)
"Denis Sassou-Nguesso, President of the Republic of Congo, said the ten cooperation projects proposed by China had been "RESPECTED AND HONOURED", while the cooperation between the Republic of Congo and China was a microcosm of this partnership."
"According to official data, in March 2018, more than 90% of the financial support promised by China, whose volume is $ 60 billion, had been GRANTED or programmed. A large number of projects, including infrastructure, industrial parks, SPECIAL ECONOMIC ZONES and industrial production projects, have been commissioned."
http://french.xinhuanet.com/2018-06/25/c_137279175.htm
June 5th 2018: "The opening of a free zone in the region of Pointe-Noire, financed by China and SOON INAUGURATED at the China-Africa 2018 (September) summit should promote the diversification of the economy..." http://www.leseco.ma/les-cahiers-des-eco/afrique/237-le-marche-de-semaine/67121-republique-du-congo-merci-au-petrole-et-a-la-chine.html