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Gold/Mining/Energy : Precious and Base Metal Investing

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To: Stephen O who wrote (755)	12/6/2001 5:16:37 PM
From: pater tenebrarum	Read Replies (2) of 39344

Stephen, unfortunately i'm not familiar with First Quantum. but as a general remark, there are few things more overrated than supposed political risk in Africa....the old Lonrho has done the bulk of its business there for decades, proving that it is possible to make a buck amidst constant episodes of upheaval. Zambia is btw. quite stable right now, and looks financially sound. Congo is still subject to various warring factions attempting to keep their hold on its resources, but i expect it to settle down eventually. i don't think that the market is putting ANY value on Congolese assets at this time, but that could well change in the future. Zambia being a case in point...the formerly expropriated assets of Anglo American have all returned to mother Anglo's fold after a 20 year hiatus...

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