By Ralph Jennings, Contributor
Bribes paid to the judiciary are accelerating in parts of the world, the NGO Transparency International found this year. It named Ghana, Mozambique and Indonesia, where the rate had gone up by more than 20%. You expect that from Africa and Indonesia. …read more
Source: FULL ARTICLE at Forbes Latest
A new study released today finds that so much water may be lost in the Volta River Basin due to climate change that planned hydroelectric projects to boost energy and food production may only tread water in keeping up with actual demand. Some 24 million people in Ghana, Burkina Faso and four other neighboring countries depend on the Volta River and its tributaries as their principal source of water. …read more
Source: FULL ARTICLE at Phys.org
A top ally of ex-Ivory Coast president Laurent Gbagbo on Monday accused the country’s new leader of being dishonest in his efforts to heal divides two years after a brutal civil conflict.
Gbagbo loyalist Damana Adia Pickass captured global media attention when he seized the piece of paper with results from Ivory Coast’s fiercely disputed 2010 presidential election and tore it up in front of journalists as the tally was being read out for the first time.
Gbagbo’s refusal to accept defeat to current President Alassane Ouattara in that poll sparked fighting that killed an estimated 3,000 people.
Adia Pickass fled to Ghana amid the violence.
He told AFP that Ouattara’s efforts to ease the country’s still fierce political rivalries were superficial.
“He’s not shown that he’s honest (or) sincere in this dialogue,” said the staunch supporter of the Ivorian Popular Front (FPI), Gbagbo’s party.
“We want all the political prisoners to be released,” Adia Pickass said, adding this would be a key step in Ouattara proving his sincerity.
Several top Gbagbo aides and FPI heavyweights remain behind bars.
Adia Pickass pointed to the arrest last month of FPI youth leader Justin Koua as evidence of the Ouattara government choosing punishment over reconciliation.
“We see a kind of justice of winners,” Adia Pickass said. “It’s only one side that is under judgement.”
Adia Pickass is facing an arrest warrant in Ivory Coast, but said he does not trust the courts there to give him a fair trial.
Adia Pickass, who had been Gbagbo’s representative on the electoral commission through the 2010 polls, is one of several of his loyalists living in exile in neighbouring Ghana.
Another Gbagbo loyalist, Justin Kone Katinan, the ex-president’s spokesman and former budget minister, will learn on August 5 whether he will be extradited from Ghana to Ivory Coast for economic crimes allegedly committed during the post-election crisis.
FPI supporters have repeatedly accused Ouattara of not doing enough to reconcile the rival camps.
Ouattara allies reply that Gbagbo loyalists continue to be involved in sporadic armed attacks across the west African nation and attempts to destabilise the regime.
FPI supporters have also demanded Gbagbo’s release from the International Criminal Court in The Hague, where he is facing crimes against humanity charges over his role in the post-election crisis.
Source: FULL ARTICLE at Fox World News
African Nations Championship (CHAN) holders Tunisia were eliminated this weekend in the first qualifying round.
They drew 0-0 away to Morocco in the second leg, but fell 1-0 on aggregate after losing at home last Saturday.
Packed with stars from CAF title-winning clubs Esperance, Etoile Sahel, CS Sfaxien, Club Africain and CA Bizertin, Tunisia were expected to advance.
But a last-minute breakaway goal from striker Abdessamad Mbarki in Mediterranean resort Sousse proved decisive over two defence-dominated games.
Tunisia won the second edition of the tournament for home-based footballers with a 3-0 drubbing of Angola in Sudan two years ago.
But coach Nabil Maaloul chose only goalkeeper Farouk Ben Mustapha from the title-winning squad to confront the Moroccans.
The 16-nation 2014 tournament is scheduled for January 11-February 1 in South Africa and Morocco will appear at the finals for the first time.
South Africa qualify automatically as hosts and Ghana and Libya have secured places after opponents Benin and Algeria withdrew.
Uganda are set to join them after building a 1-0 away advantage over Tanzania in an east Africa derby.
Midfielder Brian Majwega was the architect of the 48th-minute winner, setting up defender Denis Iguma to fire across goalkeeper Juma Kaseja into the net.
Tanzania had more possession in the eagerly anticipated Dar es Salaam showdown, but were let down by woeful finishing.
Mrisho Ngasa was repeatedly off target with long-range shots and striker John Bocco also disappointed when offered scoring opportunities.
It was the third consecutive victory for Serb coach Milutin Sredojevic since succeeding sacked Scot Bobby Williamson as Uganda coach last month.
He guided the ‘Cranes’ to World Cup qualifying wins over Liberia and Angola, and a victory over Senegal during September would take them to the play-offs.
However, Sredojevic cautioned against premature celebrations, especially given the Ugandan habit of snatching defeat from the jaws of victory.
“By winning the first leg we have got only the passports for South Africa and now we need to get the visas by winning the return match,” he told reporters.
Ethiopia host Rwanda later on Sunday in the remaining fixture this weekend with second-leg fixtures scheduled for late July.
Source: FULL ARTICLE at Fox World News
More than 4,500 Chinese have left Ghana since a crackdown on illegal mining began in June, with the illicit industry having drawn scores of Chinese to the west African nation, an official said Friday.
“The Chinese (arrested)… as at 3rd July from 1st June is 571,” Ghana Immigration Services spokesman Francis Palmdeti said.
That number includes those who were arrested and others who voluntarily turned themselves in to immigration authorities in Ghana, a major gold producer.
A total of 4,592 Chinese, including those arrested, have departed the country since the government sent a task force of police, military and immigration officials to Ghana’s gold mining regions, he said.
The task force is aimed at rooting out illegal small-scale miners blamed for ruining the environment.
Officials first announced in early June that about 100 Chinese had been arrested on charges of illegal mining, and the number has grown since then. Many Chinese miners have agreed to leave voluntarily.
Small-scale mining is illegal for foreigners to engage in, but many Chinese had flocked to Ghana to mine gold and were arrested when the task force began its work in June.
Many of the Chinese came from Shanglin county in China’s Guangxi province, which also has a tradition of gold mining.
Palmdeti said most of the Chinese who departed weren’t arrested, but instead left after the task force began raiding mining claims.
“We believe a significant number of them were engaged in galamsey,” Palmdeti said, using a local term for illegal mining. “In the space of one month having such a single nationality leave is unusual.”
The task force also arrested Niger citizens, Russians and Nigerians as part of its work. Palmdeti said Ghanaians who are mining without following the law will also be arrested.
“It doesn’t matter if it’s Ghanaians or foreigners. Once your actions are injurious to the environment you will be stopped,” he said.
Ghana is the continent’s second-largest gold producer after South Africa.
Source: FULL ARTICLE at Fox World News
Authorities say 17 people are dead after an accident at a gold mine in central Ghana.
Local official Peter Kofi Owusu-Ashia told The Associated Press on Tuesday that 20 others had been rescued Monday afternoon.
Owusu-Ashia said authorities did not believe that anyone remained trapped inside the area but he said efforts would resume Tuesday at the site.
The deaths happened in Kyekyiwere, in the Upper Denkyira district in Ghana‘s central region.
The cause of the accident was not immediately clear, and police promised to launch an investigation. Authorities have said that the miners were working there illegally at the time.
From: http://feeds.foxnews.com/~r/foxnews/world/~3/23Y_Y23_WlQ/
British police say they have finally identified a man whose body was found on a suburban London street in September after falling from the undercarriage of a plane as it prepared to land at Heathrow Airport.
Police identified the man Thursday as Jose Matada from Mozambique.
Police initially believed the man was from Ghana because he was found with currency from that country in his jeans and because a jet from Ghana was overhead shortly before his crumpled body was found in the suburb of Mortlake.
They eventually determined his identity by calling numbers found on a SIM card he was carrying. But efforts to locate his next of kin have failed so far. Police are still holding the body for repatriation.
From: http://feeds.foxnews.com/~r/foxnews/world/~3/a_ltpuVckN4/
By Alan Oscroft, The Motley Fool
Filed under: Investing
LONDON — The FTSE 100 was going steady today until the last couple of hours of trading, when it spiked to close 1.17% higher at 6,387 points, thanks in part to the mining and banking sectors. That comes after slower inflation in China helped Asian and U.S. markets to higher finishes yesterday, though there are still fears of overheating consumer demand in China.
Although the index rose today, there are always individual shares falling. Here are three that slipped today.
Ophir Energy
Shares in Ophir Energy dropped 2.8% even though the firm upped its resource estimates for its Jodari field in Tanzania by 700 billion cubic feet to 4.1 trillion cubic feet. The company is also planning a drill stem test at its Mzia-2 field, scheduled for completion by the end of the month. Once these testing phases are complete, Ophir plans to start drilling at its Ngisi prospect, and it has also secured a drilling ship for its Starfish-1 well off the shore of Ghana.
Dunelm
Soft-furnishings retailer Dunelm Group announced a 15.4% rise in third-quarter revenue, with like-for-like sales up 5.2% — and the share price fell 0.8% to 841 pence! The outlook for the rest of the year is behind the fall: Q3 figures were boosted by a late end to the firm’s winter sale and an early Easter. Chief executive Nick Wharton warned, “We anticipate that sales growth in like for like stores will become much harder to achieve in the remainder of the current financial year,” compared with a strong final quarter last year.
Sirius Minerals
Potash miner Sirius Minerals saw its shares drop by 1.2% to 21.5 pence today despite positive results from coring tests at its York Potash project — the company has found 58 meters of 88% polyhalite within a total length of 72.4 metres. In the words of chief executive Chris Fraser, “These preliminary results provide further confirmation of the volume, quality and consistency of the York Potash polyhalite orebody.”
Finally, reliable dividends can more than compensate for the day-to-day ups and downs of share prices. So how about a company that’s offering a 5.7% yield and could be set for some nice share-price appreciation, too? It’s the subject of our brand-new report “The Motley Fool’s Top Income Share For 2013,” which you can get completely free of charge — but it will only be available for a limited period, so click here to get your copy today.
The article Why Ophir Energy, Dunelm, and Sirius Minerals Lagged the FTSE 100 Today originally appeared on Fool.com.
Alan Oscroft has no position in any stocks mentioned. The Motley Fool has no position in any of the stocks mentioned. Try any of our Foolish newsletter services free for 30 days. We Fools may not all hold the same opinions, but we all
Source: FULL ARTICLE at DailyFinance
By Business Wirevia The Motley Fool
Filed under: Investing
Kosmos Energy Will Host First Quarter 2013 Results Conference Call and Webcast on May 9
DALLAS–(BUSINESS WIRE)– Kosmos Energy (NYS: KOS) will host a conference call and webcast on Thursday, May 9, 2013, at 10:00 a.m. Central time (11:00 a.m. Eastern time) to review its first quarter 2013 results. The dial-in telephone number for the call is +1.877.407.3982. Callers outside the United States should dial +1.201.493.6780.
A live webcast of the event can be accessed on the Investors page of the Company’s website at www.kosmosenergy.com.A replay of the webcast will be available on the website for approximately 90 days following the event.
About Kosmos Energy
Kosmos Energy is a leading independent oil and gas exploration and production company focused on frontier and emerging areas in Africa and South America. The Company’s asset portfolio includes existing production and other major project developments offshore Ghana, as well as exploration licenses with significant hydrocarbon potential offshore Mauritania, Morocco and Suriname and onshore Cameroon. Kosmos is listed on the New York Stock Exchange and is traded under the ticker symbol KOS. For additional information, visit www.kosmosenergy.com.
Forward-Looking Statements
This press release contains forward-looking statements within the meaning of Section 27A of the Securities Act of 1933 and Section 21E of the Securities Exchange Act of 1934. All statements, other than statements of historical facts, included in this press release that address activities, events or developments that the Company expects, believes or anticipates will or may occur in the future are forward-looking statements. The Company’s estimates and forward-looking statements are mainly based on its current expectations and estimates of future events and trends, which affect or may affect its businesses and operations. Although the Company believes that these estimates and forward-looking statements are based upon reasonable assumptions, they are subject to several risks and uncertainties and are made in light of information currently available to the Company. When used in this press release, the words “anticipate,” “believe,” “intend,” “expect,” “plan,” “will” or other similar words are intended to identify forward-looking statements. Such statements are subject to a number of assumptions, risks and uncertainties, many of which are beyond the control of the Company, …read more
Source: FULL ARTICLE at DailyFinance
By Matt DiLallo, The Motley Fool
Filed under: Investing
It’s been an awful start to the year for investors in gold miners. Shares of both Goldcorp and Gold Resource hit 52-week lows this week while many other gold miners have seen their shares dive this year. Take a quick look at this year-to-date performance chart of a basket of gold stocks and you’ll see what I mean:
I hope you didn’t stare at that chart too long; it’s pretty brutal. What happened, and is now time to invest in these gold miners?
Lost its luster
Gold, which is viewed by many investors as a safe haven just hasn’t been needed in recent weeks. The precious metal hit a 10-month low earlier this week as signs continue to point to a strengthening economy. It’s also quite possible that we’re becoming immune to bad news.
European fears of a contagion from Cyprus eased almost as quickly as they flared up. Even sabre rattling from North Korea hasn’t seemed to strike too much fear into the markets when that country supposedly has the capabilities to wipe Los Angeles off the map.You’d think that would have people buying gold and running for the hills.
Amid all this, overall investor interest in gold has fallen to the point that Credit Suisse has cut its price prediction for gold to $1,580 an ounce this year and $1,500 an ounce for next year. Given that gold is the contrarian’s investment of choice, now just might be time to be that contrarian and buy a gold miner. The hard part is determining which gold miner to buy.
Now on sale
While it hasn’t fallen as far as some of the names on my dismal chart from above, Goldcorp is viewed by many as being the gold standard when it comes to gold investments. That being said, if you like income you might want to look at Gold Resource as it pays a high monthly dividend. You’re options don’t end there — Barrick Gold offers investors the opportunity to invest in one of the world’s largest pure gold mining companies. As you can see, it gets complicated very quickly.
That’s why I think a lot of investors might be drawn to a company that simply enables you to profit from the price appreciate of gold. By taking away the operational risks that can tarnish the names I just mentioned, gold streamer Sandstorm Gold is a company that’s worth a deeper look. The company has a management team that’s experienced in streaming and a diversified production base that should yield long-term returns.
Moving away from operational risks is more important than you’d think. Take Gold Fields for example, the company’s operations at its two mines in Ghana were halted recently after a strike broke out over a pay dispute. This isn’t the first time the company has been hit by labor unrest as a 23-day strike shut the company’s South African mines …read more
Source: FULL ARTICLE at DailyFinance
By Maynard Paton, The Motley Fool
Filed under: Investing
LONDON — The shares of Afren advanced 3 pence to 150 pence during early London trade this morning after the oil company reported annual earnings up 95%.
Afren, which has operations and investments in Nigeria, Ghana, Kenya, Madagascar, and the Kurdistan region of Iraq, said its normalised post-tax profits had surged from $125 million to $244 million.
The profit advance followed production improving from 19,284 barrels of oil a day to 43,059 barrels of oil a day, an increase of 123%. The greater production helped revenues climb 151% to $1,499 million.
Afren also revealed its net debt had decreased from $548 million to $488 million despite capital expenditure of $523 million during the year.
A dividend was not declared.
Osman Shahenshah, Afren’s chief executive, said:
In 2012 we achieved record financial results driven by strong production growth at our greenfield developments offshore Nigeria. We realized an E&A success ratio of 88% and a 2P reserves replacement ratio of 265%. We have started our 2013 multi-well E&A campaign with success at Okwok, offshore Nigeria, and Simrit-2 and Simrit-3, in the Kurdistan region of Iraq.
With a track record of project delivery, exploration success and strategic acquisitions, we are well placed to continue to create significant value for shareholders.
Looking to 2013, Mr Shahenshah reckoned production during could average between 40,000 and 47,000 barrels of oil a day, and predicted capital expenditure could rise to $620 million.
Based on today’s results, Afren’s £1.6 billion market cap is equivalent to about 10 times last year’s earnings. Of course, only you can decide whether that valuation and this morning’s figures both combine to make Afren’s shares a buy right now.
Whatever you decide, Afren’s shares have more than ten-bagged since their 2009 low and provide another example of how smart investors can make enormous sums from quality resources shares.
If you already enjoy an Afren investment and are keen to earn wealth-changing returns from the oil sector, this free Fool report should help you on your way.
The report explains the factors you must consider — and the risks you’ll encounter — when evaluating potential multi-baggers within the industry. The report also profiles one part of the sector that looks set to grow considerably.
Just click here to download the special oil report today — it’s free.
The article Afren Reports Earnings Up 95% originally appeared on Fool.com.
Maynard Paton has no position in any stocks mentioned. The Motley Fool has no position in any of the stocks mentioned. Try any of our Foolish newsletter services free for 30 days. We Fools may not all hold the same opinions, but we all believe that considering a diverse range of insights makes us better investors. The Motley Fool has a disclosure policy.
Copyright © 1995 – 2013 The Motley Fool, LLC. All rights reserved. The Motley Fool has a disclosure policy.
If you own a mobile phone and spend sunup to sundown watching the traffic pass in Ghana‘s capital, then Iddrisu Mohammed wants you to be his spy. …read more
Source: FULL ARTICLE at Phys.org
By Business Wirevia The Motley Fool
Filed under: Investing
Coeur Appoints Joe Phillips to Senior Vice President and Chief Development Officer and William N. Holder to Vice President of Health and Safety
COEUR D’ALENE, Idaho–(BUSINESS WIRE)– Coeur d’Alene Mines Corporation (the “Company” or “Coeur”)(NYSE: CDE, TSX: CDM) today announced that Joe Phillips has been appointed to Senior Vice President and Chief Development Officer where he will oversee all of Coeur’s capital projects, including the new La Preciosa Project in Mexico, which is the major asset of Coeur’s pending acquisition of Orko Silver Corp., subject to Orko shareholder approval and other closing conditions. In addition, William N. (Bill) Holder has been appointed Vice President of Health and Safety and will be responsible for designing and implementing the Company’s global safety and health systems and programs and improving health and safety performance Company-wide.
Mr. Phillips brings 40 years of experience in mine development and operations. Most recently, Mr. Phillips served as Senior Vice President of Operations and Development and acting Chief Operating Officer at Silver Standard Resources. Prior to that, Mr. Phillips served as Senior Vice President of Project Development at Pan American Silver where he was a member of the senior leadership team and led the construction and commissioning of four mines over seven years in Mexico, Argentina and Bolivia.
Mr. Phillips is a graduate of the Colorado School of Mines and has completed graduate studies in engineering management at the University of South Florida. He has served as a Director of the Chambers of Mines of Mexico, Chile and Ghana, Africa.
Bill Holder will join Coeur in mid-April as Vice President of Health and Safety after transitioning from his current role as Director of Health, Safety and Security for the potash division of The Mosaic Company, where he implemented ISO 18001 standards, a method of assessing and auditing occupational health and safety management systems. In addition to safety management expertise, Mr. Holder’s background also includes environmental, operations, maintenance and continuous improvement leadership experience.
Mr. Holder holds a Bachelor of Science in business managementwith an emphasis on leadership and human relations from the University of the Southwest in New Mexico.
About Coeur
Coeur d’Alene Mines Corporation is the largest U.S.-based primary silver producer and a growing gold producer. The Company has four precious metals mines in the Americas generating strong production, sales and cash flow in continued robust metals markets. Coeur produces from its wholly owned operations: the Palmarejo silver-gold mine in Mexico, …read more
Source: FULL ARTICLE at DailyFinance
A major Nigerian airline says it has suspended its flights after failing to reach an agreement with striking workers.
Simon Tumba, a spokesman for Aero Contractors Co. of Nigeria Ltd., said Saturday the strike, which started Wednesday, has halted flights “temporarily.”
Many foreign oil companies patronize Aero Contractors, which operates flights to major domestic destinations and neighboring Ghana. The company’s website said it is working to restore flights “as quickly as possible.”
Nigeria‘s aviation industry has faced a series of challenges over the past year.
One of its carriers was grounded last June after a crash that killed more than 160 people. It has been battling to win back flyers’ confidence since it resumed operations two months ago. Another carrier collapsed last year amid allegations it hadn’t paid staff for months.
Senegal‘s special prosecutor charged with investigating the embezzlement of state funds has asked the son of Senegal‘s ex-president to justify a fortune that he estimates is worth up to 694 billion West African francs, equal to more than $1.3 billion.
Karim Wade‘s lawyer told reporters his client is accused of owning companies in Senegal, as well as in Niger, Ghana, Jordan and Equatorial Guinea. Lawyer El Hadj Amadou Sall said Friday that his client is being unjustly accused.
Supporters of the former regime clashed briefly with police, who fired a few rounds of tear gas in front of the building where the proceedings were occurring. President Abdoulaye Wade was trounced in last year’s election, and one of the opposition’s rallying cries was, “Y en a marre,” meaning, “We’ve had enough.”
After raising eyebrows by going to North Korea, former U.S. basketball star Dennis Rodman is continuing his bizarre global tour by visiting Rome — purportedly to help Cardinal Peter Turkson of Ghana become the first black pope.
But Rodman didn’t seem too sure who he was supposed to be promoting when asked about it Wednesday. “From Africa right?” Rodman asked, wearing a hat and T-shirt promoting the Irish betting firm that organized his trip.
Rodman said he was sure the next pope would be black and that he would like to meet him in Africa on his self-styled mission to promote world peace.
Even Rodman’s plans to enter St. Peter’s Square in a custom-built “pope-mobile” were uncertain Wednesday: The vehicle had been delayed by snow in northern Italy.
By Business Wirevia The Motley Fool
Filed under: Investing
Hershey Continues Innovative Distance Learning Program Connecting U.S. and Rural Ghanaian School Children
HERSHEY, Pa.–(BUSINESS WIRE)– The Hershey Company (NYS: HSY) :
The Hershey Company (NYS: HSY) today announced that it will continue through the end of the 2013 school year its successful Hershey Learn to GrowGhana Distance Learning Program, a unique distance learning program launched last fall. The program links school children in Hershey, Pa., and Ghana through real-time, high-definition technology that creates a common, virtual classroom experience.
The program allows approximately 80 middle school students in classrooms on both sides of the Atlantic Ocean to connect and share cultural experiences. The Milton Hershey School students connect to the students in Assin Fosu, Ghana, a rural town located in the Central Region, from The Hershey Story, The Museum on Chocolate Avenue in downtown Hershey, Pa.
This semester, teachers are encouraging the students in Hershey, Pa., and Assin Fosu, Ghana, to research selected topics of interest, plan how to engage in the topic and then lead parts of the actual live classroom sessions.
“We are excited about this new approach, which is less teacher-driven and will allow the children to lead the sessions, directly engage with each other and truly share the best of their cultures,” said David Bruce, sixth-grade social studies teacher at Milton Hershey School. “We believe this new approach will be more meaningful and provide a deeper understanding for the students of what it’s like to live in each country.”
During the spring semester, students will cover a range of topics that will enable them to explore each other’s culture and country’s practices. For example, one session covers “festivals” and looks at how and why each country celebrates important cultural events or special occasions. In another session, students in Ghana plan to talk about how children are named in their country and the cultural significance of different names.
By Business Wirevia The Motley Fool
Filed under: Investing
American Tower Corporation Declares Quarterly Distribution
BOSTON–(BUSINESS WIRE)– American Tower Corporation (NYS: AMT) announced that its board of directors has declared its quarterly cash distribution of $0.26 per share. The distribution is payable on April 25, 2013 to stockholders of record as of the close of business on April 10, 2013.
About American Tower
American Tower is a leading independent owner, operator and developer of wireless and broadcast communications real estate. American Tower currently owns and operates over 54,000 communications sites in the United States, Brazil, Chile, Colombia, Germany, Ghana, India, Mexico, Peru, South Africa and Uganda. For more information about American Tower, please visit www.americantower.com.
Cautionary Language Regarding Forward-Looking Statements
This press release contains “forward-looking statements” concerning the Company’s goals, beliefs, expectations, strategies, objectives, plans, future operating results and underlying assumptions, and other statements that are not necessarily based on historical facts. Actual results may differ materially from those indicated in the Company’s forward-looking statements as a result of various factors, including those factors set forth in Item 1A of its Form 10-K for the year ended December 31, 2012 under the caption “Risk Factors.” The Company undertakes no obligation to update the information contained in this press release to reflect subsequently occurring events or circumstances.
American Tower Corporation
Leah Stearns, 617-375-7500
Vice President, Investor Relations & Capital Markets
KEYWORDS: United States North America Massachusetts
INDUSTRY KEYWORDS:
The article American Tower Corporation Declares Quarterly Distribution originally appeared on Fool.com.
Try any of our Foolish newsletter services free for 30 days. We Fools may not all hold the same opinions, but we all believe that considering a diverse range of insights makes us better investors. The Motley Fool has a disclosure policy.
Copyright © 1995 – 2013 The Motley Fool, LLC. All rights reserved. The Motley Fool has a disclosure policy.
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…read more
Source: FULL ARTICLE at DailyFinance
Fresh off the heels of his controversial meeting with Kim Jong Un, former basketball star Dennis Rodman says he will return to North Korea in August to “vacation” with the country’s leader.
Rodman became the first American to meet the reclusive young leader in a visit to Pyongyang last month. In an interview with North Dakota’s KXJB, Rodman, 51, described Kim as a friend.
“I don’t condone what he does, but he’s my friend,” Rodman said. Rodman continued to say he will be “vacationing” with Kim in August.
Rodman’s remarks come amid rising tensions between North Korea and the United States, after the Asian nation threatened to launch a preemptive nuclear attack on the U.S. that would engulf Washington in a “sea of fire.”
The U.S. conducted joint military drills with South Korea on Monday, prompting a North Korean paper to report the armistice that ended the Korean War had been nullified, as Kim urged front-line troops to be on “maximum alert” for a potential war.
Kim told artillery troops stationed near disputed waters that have seen several bloody clashes in past years that “war can break out right now,” according to a report by North Korean state media.
Meanwhile, Rodman has turned his focus to Rome and the election of a new pope. According to the Associated Press, Rodman is expected to arrive in St. Peter’s Square on Wednesday in a makeshift popemobile as he campaigns for Cardinal Peter Turkson of Ghana to become the church’s first black pope.
The Associated Press contributed to this report.
By Harvey Jones, The Motley Fool
Filed under: Investing
LONDON — Every investor dreams of that elusive 10-bagger, the stock that multiplies every pound or dollar you invest by 10. This doesn’t just happen with smaller companies: At least 10 FTSE 100 stocks have delivered a total return of between 1,000% and 2,000% over the [ast decade, according to research from Fidelity Worldwide Investment. Last week, I looked at the top 3 FTSE shares over the past 10 years. But the next three are almost as impressive. And they are …
Randgold Resources
There are more peaceful places to do business than Mali, but few more profitable.
Over the past decade, Randgold Resources , a gold miner and explorer mostly based in the strife-torn African nation, has returned a dazzling 1,723%. Its strategy is to unearth multimillion-ounce deposits in the prospective gold belts of West and Central Africa and develop them into profitable mines. It currently operates four gold mines — Morila, Loulo, and Gounkoto in Mali and Tongon in Cote d’Ivoire — and is developing a fifth, Kibali in the Democratic Republic of the Congo.
After enjoying a golden decade, its share price is down 23% over the past six months, and that’s despite reporting record production levels in 2012 and a 16% rise in full-year profits to $511 million. Even a 25% dividend hike didn’t help the share price shine, although on a current yield of 0.6%, this isn’t for income seekers.
The falling gold price is a concern, as investors become less risk-averse. Political unrest is another worry, both in Mali and Cote d’Ivoire. But Randgold is hungry for more and has launched a hefty program of capital investment. The recent share-price dip looks like a buying opportunity, except I worry that gold’s glory days are now over. Despite its impressive portfolio of mines, this stock is too risky for me. Gold bugs will feel differently.
Tullow Oil
If gold isn’t your thing, what about black gold?
Today’s second FTSE 100 multibagger is oil explorer Tullow Oil , which returned 1,600% over the past decade, making it a sweet 16-bagger. It enjoyed a solid 2012, with sales revenue up 2% to $2.34 billion, and full-year profit before tax up 4% to $1.1 billion. Net debt fell from $2.9 billion to $1 billion. Highlights included the discovery of a new oil basin in Kenya, the Ngamia-1 and Twiga South-1 wells, its fourth major discovery in six years. It also enjoyed success in Uganda and Ghana.
Exploration will always be a risky business, and Tullow wrote off an eye-watering $671 million on failed exploration activities, a massive leap from the $121 million lost in 2012. Happily, its strong balance sheet should help it shrug off these losses, as well as fund the 40 exploration and appraisal campaigns in 2013, including new territories in Africa as well as Guinea, Greenland, Uruguay, and Mozambique.
You only have to look at the company’s earnings-per-share growth to see how volatile your holding is likely to be. It …read more
Source: FULL ARTICLE at DailyFinance
