re: Ann: Chalice completes sale of Zara Gold ... Wild bill...

re: Ann: Chalice completes sale of Zara Gold ... Wild bill Chalice got caught in the fall out of western and USA foreign policy in the horn of Africa. The policy is to support Ethiopia a western ally and give Eritrea a hard time even though both regimes are equally bad.

Hence the push for mining sanctions on Eritrea backed by Ethiopia and the US and other western countries.

Unsurprisingly the Eritreans fall into the arms of the Chinese and the SFECO deal on very favourable terms, and the Chalice share price being hammered.

You can hardly blame the Eritreans why should they do any western companies any favours in those circumstances and if they are going to be targeted politically they are going to try to do the Chinese favours and so get some political insurance in return.

The joke is the USA has now been very quiet about the mining sanctions probably because they are terrified of upsetting the Chinese over anything.

The whole situation is of course farcical and is just another example of dumb foreign policy mistakes that been destabilising the horn of Africa for decades.

http://www.tesfanews.net/archives/9252

Extract
Chalice Gold turned Red after selling its lucrative Zara Gold Deposit in Eritrea to China