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Gold/Mining/Energy : Tenke Mining Corp (TNK)
TNK 61.12+0.4%Nov 10 3:59 PM EST
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To: Gunnar who wrote (299)12/6/1998 7:06:00 PM
From: Greywolf  Read Replies (1) of 486
 
Power play,

from a government that is all the more looking at it's last days? The talk of nationalization has been around for years. The mining industry is state owned and as such pretty much nationalized anyway. Tenke has long standing contracts and has survived thru this talk before.

OK pushed to the wall as Kabila is he might act differently but pretty much everyone in this war are pushed to the wall. Nationalize and all the government has is a lot of stuff in the ground - it takes cash to get it out of there and that part of Africa simply has very little left.

That someone sitting on 4,8% of the outstanding shares should sell on yet more of the same talk is hard to belive, yet it can happen. Griffiths traded the 3 million plus lot in house so they must therefore know more than the rest. The volym after this has been pretty normal.

Yet Africa is a continent in flux and with Libya wanting to be African there are clearly equations to the Congo, Zimbawe thing that open new roads. With Lundin in Libya and having been there for a long time, through thick and thin mostly thin I would suspect that Tenke has more than a little back room backing from the Libyan connection. The time to buy resource stock's is the time when thing's look most bleak.

Greywolf
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