African Barrick Gold cross listed on Dar stock exchange

[Habdavi]

''ABG is pleased to announce that it has received the approval from the Capital Markets & Securities Authority of Tanzania (CMSA) and the Dar es Salaam Stock Exchange (DSE) for an introduction of its ordinary shares to the Official List of the DSE'' -Greg Hawkins CEO

 

[Habdavi]

''ABG is pleased to announce that it has
received the approval from the Capital
Markets & Securities Authority of
Tanzania (“CMSA”) and the Dar es Salaam
Stock Exchange (“DSE”) for an
introduction of its ordinary shares to the
Official List of the DSE'' -Greg Hawkins CEO

Purchase of shares will take the form of American Depository
Receipts (ADRs) of Tanzanian
companies, which are basically
stocks of a Tanzanian firm quoted in
international markets. (i.e London stock exchange)ADRs trade in
dollars, are available through your
country's exchange and don't carry
currency fluctuation risk.

 

[Habdavi]

Interesting to see that ABG (African
Barrick Gold) will be listing in DSE. YTD (Year to date return) it is
down 15.08%. I wonder how many Tanzanians
will be able to afford the offer at the
current price of £4.95/share approx TZS14,000

- The listing is on Dec 7 2011.
From the chart below, there is scope of
the price testing £3.93 printed on June 16
2011. Those buying note this - Gold
production is forecasted to peak in 2016,
with production rising to 1.55 million
ounces by 2012.

Nafasi kama hii haitakuja tena, mtaniambia.

 

[Ndinani]

Barrick had a strategy of hedging which means they already sold their gold ahead at a lower price than the prevailing gold price which they never expexted to rise so high!! Beneficiaries in the coming few years watakuwa wale walionunua ahead kwa bei ya chini na sasa dhahabu bei yake iko juu. Kwa wanunuzi wadogowadogo hii Ipo ya barrick sio dili nzuri may be institutional investors who are investing for the long term.Huu ni mtazamo wangu baada ya kuifanyia analysis hii stock kwenye London Stock exchange!