Excellent article. Ashanti shows more transparence than many other companies (even if they are/were desesperate). Their position (not selling bits and pieces of their company) confirms a comment posted on the Ashanti thread, i.e. that the Ghanean Gov. will not want to witness the dismantling of Ashanti, its only "crown jewel". Therefore those companies seeking only the best pieces stand no chance compared to companies willing to become partner (controlling partner) like Lonmin. I think that Barrick will not get Geita. Lonmin is used to dealing with African gov., african investors etc.. They wont have too much problem with being partner with the Ghanean Gov (Barrick might). It would be good for everybody (mining companies, investors like us, and the gov of Tanzania : win-win situation)if Ashanti with the support of Lonmin would regain its strength and continue to be an active player in Tanzania.
On the other hand, if Ashanti defaulted on its obligations towards Pangea (and I also think, like Terry, that PGD will have to wait for October 1, 2000 to take the property back, unless, if need be, a deal could be negotiated before), I think that it would be a good thing given the present circumstances. PGD would regain 100% ownership of the properties which could only increase its attractiveness for a potential buyer.
As for release of next results on Tulawaka (first of 2 or 3), at the earliest end of this coming week, most probably week of Nov 8 (my opinion). |
