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Gold/Mining/Energy : International Panorama
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To: mike kimelman who wrote (51)3/15/1997 8:31:00 AM
From: Aloysius Q. Finnegan   of 264
 
Chaz notes that "There are investors out there that have no clue what's going on and read an article or two about Zaire, Rebels, Hutus and Zutus and decide to panic." Was he talking about you Mike?

Kisangani has fallen today. Not to worry.

I know I shouldn't have .... but I 'read' where Guillaume Ngefa Atondoko, president of the Zairian Association for the Defense of Human Rights, predicted that there will be great 'panic' in Zaire with the fall of Kisangani.

"They see the potential for riots, political executions and an exodus of thousands from Kinshasa." Oops .... there I go again .... reading.

First we had the apologists for Mobutu ... telling us our tailing pile was far removed from the rebels. We were guaranteed that the army could contain them.

Now we learn that ILP's director in Zaire and Kabila are great chums ... so what the heck if the rebels are successful? ( "Ngefa, the human rights lawyer, cringes at what he calls the misguided faith placed in Kabila by Zairians desperate for a change." )

But then we're assured that even if Zabila doesn't turn out to be a democratic liberator and the country implodes ... we can discount Zaire and the cobalt pile altogether. ILP we are told, is still fairly valued at these prices. (Was that before or after Friday's latest decline?)

Mobutu's armed thugs are not going to go away. As they fled Kisangani for the jungle, they looted the city ... a sign of what's to come from the next rebel force. The deepening chaos threatens to destabilize Zaire for years to come. Can you spell 'quagmire' Chaz?

Don't Worry Be Happy ............... Patrick
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