they have interests in another african country, angola
the company has just released prospectus for a rights issue makes interesting reading
they seem to be currently under investigation by asic for a whole host of things related to fraud and share manipulation
of interest is the sovereign risk statement
what impressed me is the goal posts can be changed at any tick of the clock
I dont think angola would be much different from somaliland In fact I would say somaliland would be worse The somali government seems to treat kidnapping and piracy as legitimate business activities They even have stock exchange set up to fund the pirates with investors getting a cut in ransoms
the government then levels a tax on profits from ransom which is used to fund schools and other vital infrastructure.
RRS Price at posting:
5.7¢ Sentiment: None Disclosure: Not Held