The Tanzanian government is making a classic folly of a move. When you start seizing the assets of international companies guess what follows? Unemployment, capital outflows, no new investment funds, and other very unpleasant things. Just ask Evo Morales of Bolivia.
Congrats Tanzania. You have joined hands with other tyrannical, banana republics who have no real investment or governing sophistication. Jim Sinclair, whom I respect, may have made a grave error in trusting these people after the investors money has already been spent developing these mines.
I own this stock so this blog post does me no favors.
Gold Price Today Closed at $1256.20 Up $8.60 or 0.7%
11 hours ago