Lorne writes: "in between nuggets..." I thot those were brickbats Rare and Ike were lobbing...don't look like nuggets from here.
Seriously tho',
Nice to see such a news hound as yourself all over the Ashanti story, Lorne!
It would really be nice if someone could feret out if there is MORE than one Ghanian rep on the Ashanti BoD. I suspect that to be the case, since they have 20% ownership vote, and this is such a foreign currency generator (what was that percentage again?), I suspect that the number of "govt votes" in any board mtg have NOT change just b/c the COB of 15 years resigned so publically.
I'm certain there was a gov't "temp replacement rep" sitting in and voting on any issue coming up between now and when the special shareholder's mtg/21 day clock runs down.
Furthermore, I'm willing to bet it is ONE SEASONED Gov't vet, probably a rabid one (a Ghanian version of ole G.I. Ron Reece--<g>) who has been brief on who is bribe-able and who is sleeping with whom, politically. That is what BoD's are all about...feathering one's own political alliance nests to get the best done for themsel...erroops, I MEANT to type company!!! Honest!!!
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Regarding your other question, you are correct:that A$650+ per oz sale price reported in your piece is in Aussie bucks.
Regarding what price their hedges are in, I would suspect that to also be the truth. That is logical. Am I missing something in your question?
The thing that would be most helpful would be to remember that gold and oil are the two global commodities traded in US$ since forever. I am most accustomed to seeing reports where the US$ number is either primary with the local currency "conversion" in ( )'s beside the US$ number or at the minimum, the reverse to be true. Why this report didn't state it clearer before being put on the wire svcs is probably just a clerical error.
Good luck to anyone who can come up with how many board members sit on the Ashanti board that represent the govt. |
