TNT, Santa Surfing and Pimpy Friday 7-10-2020
TNT:
Tishwash: Zimbabwe Gold Mines Lure Investor Despite Economic Ruin
Bloomberg) -- Zimbabwe’s biggest gold mines are being snapped up by Mauritius-based Sotic International Ltd. as the price of bullion soars to the highest in more than eight years.
Landela Mining Ventures Ltd., which is controlled by Sotic, bought two of Zimbabwe’s gold mines this year. The newcomer is targeting six more mines, including four idled state-owned operations, said Sotic Chief Executive Officer David Brown. That expanding mining portfolio has strategic importance as gold is the biggest source of dollars in a nation facing foreign-currency shortages.
“Gold is a commodity with potential positive impacts,” Brown said in a phone interview from Johannesburg. “We want to grow the resource base to provide upside for both company and country.”
Brown said Sotic is backed by Cayman Islands-registered Almas Global Opportunity Fund, but he declined to name other investors. Last year, Sotic acquired control of Bindura Nickel Corp., Zimbabwe’s biggest nickel operation.
The country is struggling with food and fuel shortages, soaring inflation and an imploding currency. President Emmerson Mnangagwa, who came to power after his predecessor Robert Mugabe was removed by the military in November 2017, has failed to revive the economy and is increasingly reliant on security forces to quell mounting discontent.
Landela is ramping up output at Freda Rebecca, an operation formerly owned by Asa Resources, and last month concluded a deal to buy the mothballed Shamva gold mine from indebted Metallon Corp., once Zimbabwe’s biggest gold miner. While the coronavirus pandemic delayed the acquisition of two more Metallon mines -- Mazoe and Redwing -- the transaction should be concluded shortly, according to Brown.
Significant Player
Landela is also favored to buy four of state-owned Zimbabwe Mining Development Corp.’s gold mines, which were mothballed due to lack of capital, said Brown, a former CEO of Impala Platinum Holdings Ltd.
“We want to become a significant player in the gold industry in Zimbabwe,” said Brown, who is also chairman of a Russian investor-backed company developing one of Zimbabwe’s biggest platinum mines. “We have a significant amount of resources that are available to grow the asset base and become a significant producer. We want to become bigger.”
He declined to say how much Landela is spending to buy the mines, while capital requirements are still being assessed. Some of the operations have been flooded or stripped of equipment after being idled for years.
Still, the quality of Zimbabwe’s assets and the rally in gold justify investor backing for the mines, said Brown. Zimbabwe’s gold output fell to 27 tons last year, down from 33 tons in 2018, as producers struggled with a myriad of challenges from power outages to shortages of foreign currency. The government is targeting output of 100 tons by 2023.
“The common wisdom for the gold price going forward looks like it will stay stronger for longer and to that extent the economics of the mines is significantly enhanced,” Brown said. link
Tishwash: Goldman Sachs: The price of a barrel of oil will exceed $ 40
American investment bank Goldman Sachs raised its forecast for oil prices this year.
This comes at a time when energy markets are under pressure from the Corona pandemic.
The bank expected that the average price of a barrel of oil from the "Brent" brand would reach 40.51 dollars, while he expected the price of a barrel of American crude "West Texas Intermediate" to be 36.88 dollars.
And oil markets came under pressure this year, as demand for black gold fell due to the Corona crisis.
The countries of the "OPEC +" group agreed last April to cut production by 9.7 million barrels per day in May, June and July of this year.
These cuts will be gradually reduced after next July until the end of April 2022. link
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Courtesy of Dinar Guru
Pimpy ...the fact that the International Financial Action Group has already removed Iraq off their list of money laundering people...this is really big big news. Because this means the international community is starting to realize that Iraq is doing something about the levels of corruption in this country. Again, there's a meeting coming up with Trump real soon...at this pace we may see the Iraq dinar be recognized on the international scene really super soon here. Having said that does that mean there's going to be a change in rate? I don't know. But I know the first biggest step is to have the sovereignty of Iraq recognized internationally. That means restrictions get removed off their currency. What does that mean Pimpy? Well that means if you have a bank that deals with foreign currency you should be able to go in and purchase it or exchange it...if they remove these types of restrictions that's what we want...The next move after that would be the reinstatement of a rate...
Robert Kennedy Jr. Comms! SCOTUS Dirt!
Santa Surfing Beach Broadcast: July 9, 2020
Last night, many great anons shared a huge comm from Robert Kennedy Jr.'s Instagram Live show. RFK was interviewing a person while the Live Chat was on. Then this happened, a person's Comment was "TOUCH YOUR NOSE IF JFK JR IS ALIVE":
Full Transcript: https://beachbroadcast.com/whats-happening/f/robert-kennedy-jr-comms-trump-timeline-for-gold-standard
NESARA / GESARA - releasing knowledge
Pimpy’s Investment Chat: Jul 9, 2020