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FL

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FL

Re: None

Thursday, 09/15/2005 2:57:33 AM

Thursday, September 15, 2005 2:57:33 AM

Post# of 2138
Managem up 70% lately

Moroccan mining company Managem (MNG on the Casablanca Stock Exchange, see http://www.casablanca-bourse.com/ ) has a majority interest in gold miner Semafo (SMF.TO). Managem in turn is controlled by ONA, a group that is a said to be controlled by the king and royal family of Morocco.

Managem stock was doing badly for a long time until this summer. Recently it has risen 70% from its 2005 low, on the Casablanca exchange.

There are reports of disagreements between the Managem and Semafo managements. There was an official announcement of a possible pending substantial change in Semafo ownership. I never figured out what that betokened. (I have some Semafo shares.)

FL

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