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Merchant2000

21,668 Posts.

886

02/09/24

12:35

Post #: 75487079
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Originally posted by chuk: ↑

Merchant thinks high inflation due to a depreciating currency in Angola is something new. It's not. It's been ongoing for years. He also fails to understand that while costs in Kwanza rise against the USD, cost in USD stay unchanged against the USD. Minbos has been paying for plant to date in USD and will continue to pay for the balance of the capex in USD.
A depreciating local currency makes it all the more important for Angola to grow its own food rather than import with a weak currency.
It's not at all surprising to see the Angolan government continue to support the project through its recent Sovereign Wealth Fund investment, for US$10mill. That's USD, not Kwanza.

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@chuk

Thats why this has required last resort lending all from within Africa

Last Resort lending after so many discussions - and TSP is over $500

Huge risks and concern that the govt controls the destiny of this project and possibly GA going forward

Hence 20% below govt buy in of 8c

The real concern here now is 2025 growing season etc

MNB Price at posting: 6.4¢ Sentiment: Hold Disclosure: Not Held
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