NEW: Managem (MNG in Casablanca); Semafo (SMF) play?
Groupe Managem, which trades as MNG on the Casablanca Bourse (stock exchange), has been added to the header. This is an indirect way to invest in Semafo (SMF in Toronto), the West African gold producer and explorer, which is has been controlled 50.5% by Managem since the year 2000. It's not a pure play, because of Managem's other mining assets including Akka Gold Mining in Morocco and other, non-gold, assets.
Managem has operated in Morocco since 1928.
The current Managem stock price in Casablanca of MDH320 is a new low. Those who know how to buy Moroccan stocks (unlike me) might see this low-priced stock as an alternative to Semafo's "somewhat healthy" prices lately. (Semafo itself keeps refusing to decline to the low price I want to buy at.)
To me, the recent gold discoveries at Balan West in Guinea make both companies look better. Semafo is not only exploring, but producing a lot. In Niger of course it is Etruscan's (EET) partner at the big Samira Hill and Libiri deposits. Also, to my surprise, Semafo has gold exploration properties in Cote d'Ivoire and Ghana production that I hadn't known about.
FL
