![]() The longtime Swiss fund manager Marc Faber has made a killing for years, making very pessimistic-but very correct-calls about the market, to the benefit of his $300 million fund. A lot of blood has been shed for these rights, and while democracy isn’t perfect, to paraphrase Winston Churchill, it’s far better than any other system of government,” wrote activist investor Carl Icahn in a September 18 Wall Street Journal editorial. When things aren’t going well, citizens can vote the leaders out. “I’m no political scientist, but it doesn’t take a genius to understand that voting is crucial to democracy. Icahn Channels Churchill in Critique of Boardroom Politics (WallstCheatSheet) Soros is also switching brokerages, from Halstead to Town, although to new listing isn’t up on Town’s website yet. ![]() Now the Wall Street Journal is reporting that she is re-listing it with yet another price reduction-to $39 million. She chopped the price to $45 million in February and eventually took the apartment off the market. Soros’ Ex-Wife’s Majestic Pad Now $11 Million Cheaper (Curbed)īillionaire George Soros’ ex-wife Susan Weber Soros listed her furnished 5BR/6.5BA in the Majestic back in October for $50 million. 18 after declining 8.8 percent in 2012 and about 10 percent in 2011. The Clive Fund’s Class A shares fell 9.1 percent this year through Sept. Clive told investors today the London-based hedge fund will shut down at the end of the month, according to the letter, which was obtained by Bloomberg News. Monro has a stake of under 1% which he bought on the market or in placements.Clive Capital Fund Plans to Close After Two Years of Losses (BusinessWeek)Ĭlive Capital LLP, the $1 billion commodity hedge-fund firm founded by Chris Levett, plans to close after posting more than two years of investment losses, according to a letter to clients. The debt-free company counts Brookstone Business (28.6%) and Michael Farmer, the British House of Lords peer and founding partner of the Red Kite group of hedge funds (14.1%) among its shareholders. Monro adds that there is still potential to find new deposits in the Sanankoro permit area.Ĭora Gold trades on London’s Alternative Investment Market (AIM).There’s “relatively low technological risk” and costs at the project will be lower than the industry average, Monro says.The company has agreed to a $25m term sheet with Lionhead Capital to support Sanankoro’s development, with the amount split equally between equity and a convertible note. ![]() Cora Gold will own and operate the mine, with contract mining the most likely option for production. Power-intensive drilling, blasting and crushing will not be needed. The high level of oxide ore near the surface means that underground mining is not needed and scooping diggers can be used for open-pit mining, Monro says. The July mineral resource estimate saw a 22% increase in oxide indicated mineral resources to 509,000 ounces. The government, he says, is responsive and easy to deal with and Mali is “a good country” for mining in both political and operating terms. The company has already applied for an environmental permit. He hopes the mining permit process will be straightforward given the country’s well-established mining code. Monro says Cora Gold has “good relationships with West African banks” which it will aim to draw on during its fundraising. READ MORE Sahel treasure trove: Informal gold trade fuelling Islamist insurgencies
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