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04/09/23
16:32
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Originally posted by sf120:
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Africa does it to itself. LLL invested significant cash here and yet Mali gives investors 100 reasons not to invest in africa. All this and then there is the 100 charities trying to help africa. Here's a thought, get rid of the incomponent governments... They want 30% ownership yet they cant enforce their own free trade agreements... Why do we take the risk, invest the cash only to give them 10% free caried (fair) and another 20% at what price? I expect some ridiculous Mali back-office calculations LLL still a good investment because the size of the asset in the context of EV market penetration. This asset produces at just the right time to hit the best part of the remaining gravy train. But 50% down because Mali changed the rules after the investment was made is disappointing, frustrating and an fing joke on making any further investments into Mali. Even though i am still green here, will not be investing in Mali again.... It seems to be a common theme in africa which is sad as i truly believe our investment makes a difference not only to our own interests but the interest of the country IF NOT for the incompetence..
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They arent asking for 30% We are under the old mining code where they get 10% and then have to pay for next 10% which is paid for by foregoing dividends. Its essentially loaned to them according to simon on the call. when this mine is running these small sums of $50 million will be laughed at