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Gold/Mining/Energy : Gold and Silver Mining Stocks
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To: Elizabeth Andrews who wrote (3676)2/20/2003 9:02:35 AM
From: IngotWeTrust  Read Replies (1) of 4051
 
You are correct in that assessment, Liz. The west side of Africa-- host of a great many KNOWN large gold deposits--has been an "extreme country risk" for many years prior to my familiarity with them almost 10 years ago, now.

Part of this is due to so many broken promises and bankrupt operations, both in gold and in diamonds..

One of the first to explore and develop West Africa were the Russians. The cold war decimated their ability to fund such far flung operations such as gold mining and diamond exploration in West Africa.

They were then followed p by the French who acquired all the aeromag work in Mali in diamonds in particular.
And the French have been followed by the Vancouver D&E companies by the droves.

Even Jerry Falwell's Lynchburg Virginia church organization owned 3 gold mines in Mali about 10 years ago and couldn't hang onto them.

And then the laws changed dramatically in Mali in particular which have served as a model for future D&E hopefuls.

In my assessment, not only is their political risk, there is considerable financial risk as well to players there...the longevity of viable operations in that region are simply historically NOT encouraging, with much turnover and hand-over and abandonment due to many factors, not the least of which is poooooooor roads due to lengthy and
devasatating monsoonal seasons which wipe out many "permanent bridging structures."

Just s'more West Africa gold and diamond mining history for your tickler file, Liz.
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