Silicon Investor (SI) -- The First Internet Community

STOCKTALK

We've detected that you're using an ad content blocking browser plug-in or feature. Ads provide a critical source of revenue to the continued operation of Silicon Investor. We ask that you disable ad blocking while on Silicon Investor in the best interests of our community. If you are not using an ad blocker but are still receiving this message, make sure your browser's tracking protection is set to the 'standard' level.

Gold/Mining/Energy : Gold and Silver Juniors, Mid-tiers and Producers -- Ignore unavailable to you. Want to Upgrade?

To: Malyshek who wrote (61722)	10/17/2008 10:46:33 PM
From: E. Charters	Respond to of 78410

"even penetrating, scientific insights into diverse disciplines including geology, and a careful selection of pertinent visual materials relevant to Canadian history and mining lore." hmmmm.... wish I could agree with all that but I am not sure I understand it. Pass me that ball peen hammer, Frodo, I have to fix the pattern on the TV. There can't be that many zits on Andrechuk's face. (From the kitchen) "Those ARE zits. You're watching HDTV for god's sakes! Andrechuck is a lower form of animal life, where do you think they breed that chunk NHL meat anyway? That isn't prime rib, it's shoulder roast." I think most pre production enterprises that want mining cash are back to the seventies when nobody could get "mill money". Iffen you want to start a mine you need oodles of bucks and a stock price that is north of 10 cents. Otherwise you have to get "creative". Since I have been in the biz, Africa plays trade at a significant discount. Political risk is seen as extreme. They murdered a few hundred French Mining technicians in Katanga back in the 70's. But big money keeps getting sucked in because of the fecund resources. I think most people got shaken out of Burkina Faso and Guinea. Any country that starts out with a ten percent ownership and then layers western style tax regimes on top of shaky edict-prone governments who suspend miners for all manner of imagined infractions, steals a march from Ecuador handily. The other thing you have to understand about west Africa, indeed most Africa outside the notorious political instability and fractious arbitrary, corrupt and delaying leadership is that there is basically, except in a few states no money repatriation of any kind. Anglo people told me for years that you could never cash a cheque on a foreign account in 70% of African countries. In other words you could get the money into Africa, but you could never get it out. Even to buy equipment. The African bank would take the cheque, but it would never cash without a bribe. You need connections. Some states are a bit better, notably Ghana, Tanzania, etc.. but better is relative. Tanzania cleaned up its laws, but the maze of regs, old ownerships, and slow to act government employees, and the political problems with the horde of illegal miners meant that only large company baksheesh would cut thru the problems. Tanzania could have had a dozen mines developed but only got Bulyanhulu done because only Barrick could afford the bullshit. Sierra Leone, Ivory Coast, CAR, etc. are more of the same. Small ops work but don't try to get a gold mine going. You can forget Guinea, Guinea Bissau, Liberia, etc.. more of the same, and dangerous as petting rattlesnakes. Nigeria is a crock. And don't think a century will cure it. Trouble have been going on in those countries for 400 years. Massacre every 20 years like clockwork. EC<:-}