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NATIONALISATION
SA union rejects mine nationalisation talk
From Creamer Media
By: Reuters
18th November 2010
JOHANNESBURG – Nationalising South Africa's mines as proposed by the ANC's Youth League is a reckless, ill-conceived idea that will not come to fruition, the head of the country's biggest union said on Wednesday.
National Union of Mineworkers (NUM) president Senzeni Zokwana also questioned the motive of Youth League leader Julius Malema, whose fiery talk in the last year of taking over the mines has rattled investors in Africa's biggest economy.
Zokwana said the push for state ownership appeared to benefit some of South Africa's Black Economic Empowerment (BEE) elite who see it as an easy way to grab mining assets or be bailed out of failing ventures.
"You've had some black voices within the BEE supporting the debate," Zokwana told Reuters in an interview in the quarter-million-member union's plush offices in downtown Johannesburg.
"It may be that this Youth League is being funded or encouraged by certain people who believe that when the state takes over, it will be an easier way for them to take over and run those companies," he said.
"Or it may be that some guys are swimming deep in debt so much that they want to be salvaged through the state taking over and bailing them out."
Since Malema's calls for nationalisation, the ruling African National Congress (ANC) has embarked on a debate on the issue, including the appointment this week of two researchers to look into successful models of state involvement in the sector.
Zokwana criticised the ANC, saying it had allowed outsiders to gain the impression of a government on the cusp of radical intervention when the reality was probably far from the case.
"I believe that there's no threat to any investor," he said. "It will be debated in 2012 informed by this research, and in our view if you ask me, I don't think that view will fly given the facts at our disposal."
Public-private mining partnerships similar to those between diamond firm De Beers and the governments of neighbouring Botswana and Namibia might be workable, Zokwana said.
But the NUM, a social and political force, would counter any policy that might damage a sector that accounts for nearly 9 percent of GDP, employs half a million people and is central to the government's long-term plans to tackle chronic unemployment.
The NUM and the Youth League are breeding grounds for leaders in the ANC and analysts have said the debate on nationalisation has been more about jockeying for political power in the ruling party than shaping economic policy.
"The union has been at the receiving end of the Youth League of the ANC for standing and saying: 'Don't come with uncooked resolutions or proposals. These reckless statements that you are making pose a threat to the industry,'" he said, drawing a comparison to Zimbabwe's economic collapse a decade ago.
"There's an interest for us as a union to defend not because we're defending the owner but because we're defending ourselves. You can't find unions where there's no employment."
Edited by: Reuters
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Echo20
It's Go Time
Some Consolidation,
EOM,,what is going on here? down 50% in a few days
Churning now...may come back tomorrow.
CGHI will come back much stronger this time around
Bouncing back now.....0045
Perfect -All the golds are acting the same way right now, retracing and then will bounce back...
load up now while we can!!
May have to wait, the next run will be much stronger.........
36x37 looking bad so far
0041x0044 Major dumping...this sucks.
.0048.x005 Wow...classic gap and trap.
56x57 now...profit taking or gap and trap?
Hmmm, almost a nice chart, too early to tell, if I see this swing tighten into a pennant, I'll surely be back to see what the hype is, good or bad, then I may be in before it heads north...
Cool, then thanks and GLTY! I will watch and see if it is going to go pass the first resistance at .0085, if it gets past that, that is a good entry point, then it could go to .0135 or .016, breaks .016, then it will hit .024.
Not that I am aware of... just riding the MOMO myself
LOL! That I do know I am on the SAE*E Board and the E drops this week with filings. I was interested to see if anyone had any information other than what the filings showed for this stock. Thanks.
It has Gold in its name and Gold and Silver are on a tear!
granted it may have a low float but is it being driven up on any relevant news like these other gold plays. i just don't see anything. thanks
You're rude. You just show up, say Boooo, and then demand DD?
Maybe you should ask nicer next time and maybe you'll get what your looking for.
picked up some at 0039 today.....
Okay so what we are all seeing on the Pinks Sheets is the most recent data, correct?
What is triggering this sudden upswing, excellent rise today.
Do you guys think that there is a reverse merger about to happen? Any information on this?
Nice close...break .007 tomorrow and this sees .01 IMO.
All gold plays are hot right now...this has a relatively low float so it can run just like TAON, DGRI etc.
Go CGHI
I must be missing something but good luck to all.
Echo20
I noticed that just like myself many investors(gamblers) get very nervous when their stock goed UP, while at the same time they remain very calm when the same stock tanks.
all i want is for one person on this board to send me a valid link that shows anyone why they should buy this stock
Have to agree, careful does it....GLTA
chevy56
watch out for the P&D
no news
no filings
dangerous
all imo
Thanks on that up-date.....
chevy56
we are heading to pennyland!
This is on FIRE!!!
I am just playing this b/c it has Gold in the name and as I see it... when gold breaks $1500 soon... this will get bid to a penny.
Eom7,
Neither do I.
It is just that the threat of nationalizing mines
in South Africa is slowing down mine productfion
and mine growth.
I wonder if CGHI has anything at all at this time.
This recent run could be someone wanting the name CGHI.
Echo20
I don't think this Co. has anything to nationalize!
R67bn mine deficit would have hit State – Sipho Nkosi
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By: Martin Creamer
2nd November 2010
TEXT SIZE JOHANNESBURG (miningweekly.com) – Had the South African mining industry been nationalised, the South African government would have been accountable for the R67-billion post-meltdown deficit that the industry suffered in 2009, outgoing Chamber of Mines of South Africa president Sipho Nkosi points out.
Nkosi, who was replaced after serving three terms by incoming president Dr Xolani Mkhwanazi at the Chamber's 120th annual general meeting in Johannesburg on Tuesday, cautions those in South Africa who are advocating nationalisation that the cyclical nature of the mining business presents a wide range of attendant risks.
"One needs to look no further than the economic and financial realities of the South African mining sector in 2009 to appreciate the pitfalls," Nkosi adds.
The total income of the mining sector in 2009 was R332-billion, down 9% on 2008, and the industry ended up with a R67-billion deficit after expenditure totalled R399 billion.
The mining industry had to use retained earnings to cover the deficit, which would have been the job of the State if some within the ruling African National Congress (ANC) had their way.
While it is obviously not true to suggest that deficits like the 2009 deficit happen every year, Nkosi says that it does illustrate the potential demands that can be made on taxpayers when mines are being managed and operated by the State and not by the private sector.
"There's always going to be a limit to the amount of taxpayers' money that the fiscus can provide to offset the deficits incurred by nationalised business sectors.
"Nationalisation is an antiquated and discredited practice. It has never been an enduring, successful system anywhere and it has impoverished many countries, several of them in Africa," Nkosi, who is also the CEO of the JSE-listed coal-mining company Exxaro, says.
With President Jacob Zuma and Mineral Resources Minister Susan Shabangu having asserted that nationalisation is not a government policy objective, the issue now resides in the ANC's national executive committee, where it will receive detailed attention during the next two years.
Nkosi commits the Chamber to participating "vigorously and constructively" in any public debate that may take place.
Besides Mkhwanazi, who is BHP Billiton South Africa's chairperson, two other new office bearers are vice-presidents Mark Cutifani, CEO of AngloGold Ashanti, and Neville Nicolau, CEO of Anglo Platinum.
During his term of office, Mkhwanazi intends to continue to strengthen the relationship between the Department of Mineral Resources and the mining industry and to work with the government for a "water-tight" licencing process.
"Mining should still be the mainstay of South Africa's economic development and wealth. South Africa is by far the most endowed country and we need to fix infrastructure, transform and improve competitiveness. Most of all, we need to dig and to support growth," Mkhwanazi tells Mining Weekly Online.
Edited by: Creamer Media Reporter
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Lots of troubles still in South Africa over NATIONALISATION.
Echo20
WOW, up-side explosion....
chevy56
GLTA
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Centurion Gold Holdings Inc . CGHI
www.mbendi.com/orgs/cb2m.htm
* Telephone: 011-27-11-873-5315
* Facsimile: 011-27-11-507-6077
* E-mail: info@centuriongold.com
* Website: http://www.centuriongold.com/
* Country: South Africa
Info by -
http://www.mqdata.com/data/show_operator.asp?id=1122906671
Postal Information
The address of the company's head office is:
Centurion Gold Holdings, Inc.
Centurion Gold Holdings
12 Main Reef Road
Primrose
Johannesburg
South Africa
* Phone: 27 (11) 873-5315
* State Of Incorporation
FL
* Jurisdiction Of Incorporation
USA
*
Company Officers
Andrew Dale Paul, COO
*
SEC Reporting Status
SEC Reporting Company
*
CIK
0001164538
*
Estimated Market Cap
343,446 as of Jul 7, 2008
*
Outstanding Shares
49,063,750 as of Jun 21, 2004
*
Capital Change
shs increased by 3 for 1 split
Ex-Date: Jul 29, 2003
Record Date: Jul 18, 2003
Pay Date: Jul 28, 2003
*
Company Notes
o Formerly=Golf Product Technologies, Inc. until 3-03
*
Security Notes
o Capital Change=shs increased by 3 for 1 split. Ex-date=12/11/2002. Rec date=12/06/2002. Pay date=12/10/2002.
The information provided here has been obtained from publicly available sources as well as directly from issuers in some cases.
Click here to update your company profile.
above info by -
http://www.pinksheets.com/pink/quote/quote.jsp?symbol=cghi#getCompanyInfo
___________________________________________________________________________
____________________________________________________________________________
________________________________________________________________
Extensive Portfolio of Mineral Properties in South Africa
Centurion has a considerable number of mines in South Africa with mineral assets
comprising of gold, platinum and PGMs, chrome and tin. Centurion acquired
its many properties through the South African “Use it or lose it” legislation enacted in the September of 2004.
The Company was able to capitalize on this unique opportunity by acquiring mineral rich properties at below market prices.
The status of the various properties is as follows:
Uvongo South Rand Gold Basin
http://www.mqdata.com/news/show.asp?id=50145586
Omaruru Gold Mine:
has gold dump reclamation of 200,000 scoped resource with an estimated value of $3.8 million?
Zaaiplaats Pty Ltd Tin Mine:
has potential for 3.3 million tons with an estimated value of $40.75 million?
It's license is issued and the engineering report is in the final stage?
http://www.mqdata.com/news/show.asp?id=1131104125
Coinholders Chrome Mine:
has a potential of 660,000 tons of chrome and 13,000 oz. of platinum tailings
dump and pipe deposits with an estimated value of $409.68 million?
Company is waiting on the license?
Naboom:
has high grade platinum potential of 2.4 million oz with an estimated value of $2.7 billion.
It is in the initial stage of its engineering report and the Company is waiting on its license?
K&R Platinum Mine:
has a potential of 2.7 million tones of platinum rich PGMs with an estimated value of $49.97 million?
The Company is currently waiting on its licenses?
Fulloutput Pty. Ltd.:
has an indicated reserve of 104,000 oz. and inferred reserve of 240,000 oz. from SKR
with an estimated value of $217.62 million?
It is in the initial stage of its engineering report and the Company is waiting on its license?
(NOTE: the 5 million oz gold and 2.4 million oz platinum are possible reserves not proven under NI 43-101)
Mining Revenues:
Based on their most recent 10Q, for the period ended December 31, 2005, the numbers are:
Mining revenues for the three months ended 12/31/2005 were $576,252 and mining revenues for the twelve months ended 12/31/2005 were $1,580,461?
________________________________________________________________
SEC filings
http://yahoo.brand.edgar-online.com/default.aspx?cik=1164538
http://www.pinksheets.com/pink/quote/quote.jsp?symbol=cghi#getFilings
Press Releases
http://finance.yahoo.com/q/h?s=CGHI.PK
http://www.centuriongold.com/press.html
_________________________________________________________________
SHORT SELLING COMBINED WITH FRAUDULENT STOCK MANIPULATION
http://www.advancedsmallbusiness.org/positionpaper.htm
_________________________________________________________________
Escopeta Oil & Gas Corporation
(713) 623-2219
5005 Riverway Dr Ste 440
Houston, TX 77056
Transfer Agent
Corporate Stock Transfer, Inc.
3200 Cherry Creek Drive South
Denver, Colorado 80209
Telephone: 303-282-4800
_________________________________________________________________________________________
We recommend you use the information found here as an initial starting point for conducting your own research and
conduct your own due diligence (DD) on CGHI in order to determine your own personal opinion of the
company before investing. We are not registered broker-dealers and do not recommend the purchase and sale of
securities. Neither the information, nor any opinion expressed, shall be construed to be, or constitute an offer to sell or a
solicitation of an offer to buy the securities mentioned herein. The information contained herein has been obtained from
the company and publicly available information and are believed to be reliable, but no representation or warranty,
expressed or implied, is made to the accuracy, completeness or correctness of such information or the opinions and
analysis contained herein. We are not liable for any loss directly or indirectly incurred by anyone relying on any
information obtained from this report. This includes, but is not limited to any loss caused in whole or in part by reliance
on the content, expression of opinions or interpretation of news, events, financial information or anything else found herein.
_________________________________________________________________
Welcome to Centurion Gold Holdings Inc message forum -
ATTENTION:
Posted by: Echo20 | Date: Saturday, August 22, 2009 2:20:41 AM |
In reply to: None | Post # of 1541 |
August 30th is the deadline to sign up for the motion to go after information and money on the sale of the Primrose Mine.
There is a need to know how many are going in on this and how many shares there are represented by those investors!
There was 210 million shares of CGHI and 191 investors and it looks like the Primrose Mine did not want to share the gold with 191 investors in the USA!
Please sign up before August 30th, 2009 with an email that you are interested to curtispmail-lanf@yahoo.com or curtispmail-xlan@yahoo.com and state the amount of CGHI shares you had from 2004 to now. Dates would help.
At least this is exciting.
Echo20
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