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Training for india taking over..
RSG - Resolute Mining
- Thread starter carpets
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Backing away from Google translate, how is the SP going to react..160 millions today, how much next month,,?
And noone wanting to buy the assets
Could these problems be the results of some naive honest Aussie manager refusing to pay bribes?
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Can you two take it to the translation thread?
This is all about RSG.
My future depends on it.
mick
This is all about RSG.
My future depends on it.
mick
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I really hope Mick your future does not depends on these guys
Country Lad
Off into the sunset
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Probably
Garpal Gumnut
Ross Island Hotel
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Unfortunately it is against Australian law to pay bribes in a foreign country and many Australians in high positions have been prosecuted for this in Chinese and African based countries. It is not naivety, it is fear of the consequences of facing court back here in Australia.
Bribery is part of the cost of business in these hell-hole African countries and I feel that the Australian law puts our country at a disadvantage. It also puts staff in severe danger if the goons running the show decide to harm them in an attempt to get what they see as a normal business cost.
I just hope the employees of RSG get out in one piece.
gg
Garpal Gumnut
Ross Island Hotel
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Latest from Reuters 5h ago.
By Tiemoko Diallo and David Lewis
BAMAKO (Reuters) - Resolute Mining CEO Terence Holohan and two other employees of the Australian company were still being detained in Mali on Thursday, two diplomatic sources there told Reuters.
Resolute said on Sunday that Holohan and the two other employees had been temporarily detained by government officials in the military-led West African country.
It has not provided any further update on the situation.
The executives were in Mali's capital Bamako to hold discussions with mining and tax authorities regarding general activities related to the company's business practices.
Resolute's shares fell as much as 8.1% to A$0.395 on Thursday, their lowest level since late March, after Bloomberg reported that the Malian military junta was seeking at least $161 million from the company to settle a dispute mainly concerning alleged back taxes.
Trading in Resolute shares was halted on the Australian Stock Exchange and the company said in a filing it "will provide further updates as and when appropriate".
It did not respond to a Reuters request for comment.
In its statement on Sunday, Resolute said that the three executives had been discussing "unsubstantiated" claims made against the company during their meeting with the authorities.
Mali's junta adopted a new mining code in August 2023 allowing the country to increase its ownership of gold concessions and recoup what it said is a major shortfall in production revenues.
The move has strained relations with major gold mining conglomerates operating in Mali, which in addition to Resolute include Barrick Gold, the world's second gold miner, and Canadian rival B2Gold.
Authorities in September briefly detained four Malian staff working for Barrick and have demanded at least $500 million in outstanding taxes and dividends. The two parties are in talks.
($1 = 618.0000 CFA francs)
(Additional reporting by Alessandra Prentice, Jessica Donati and Felix Njini; Writing by Sofia Christensen; Editing by Alexander Smith)
............................................
SMH states that Mali Junta are seeking $250m. from Resolute.
............................................
gg
Resolute CEO still held in Mali, diplomatic sources say, as shares suspended
By Tiemoko Diallo and David Lewis
BAMAKO (Reuters) - Resolute Mining CEO Terence Holohan and two other employees of the Australian company were still being detained in Mali on Thursday, two diplomatic sources there told Reuters.
Resolute said on Sunday that Holohan and the two other employees had been temporarily detained by government officials in the military-led West African country.
It has not provided any further update on the situation.
The executives were in Mali's capital Bamako to hold discussions with mining and tax authorities regarding general activities related to the company's business practices.
Resolute's shares fell as much as 8.1% to A$0.395 on Thursday, their lowest level since late March, after Bloomberg reported that the Malian military junta was seeking at least $161 million from the company to settle a dispute mainly concerning alleged back taxes.
Trading in Resolute shares was halted on the Australian Stock Exchange and the company said in a filing it "will provide further updates as and when appropriate".
It did not respond to a Reuters request for comment.
In its statement on Sunday, Resolute said that the three executives had been discussing "unsubstantiated" claims made against the company during their meeting with the authorities.
Mali's junta adopted a new mining code in August 2023 allowing the country to increase its ownership of gold concessions and recoup what it said is a major shortfall in production revenues.
The move has strained relations with major gold mining conglomerates operating in Mali, which in addition to Resolute include Barrick Gold, the world's second gold miner, and Canadian rival B2Gold.
Authorities in September briefly detained four Malian staff working for Barrick and have demanded at least $500 million in outstanding taxes and dividends. The two parties are in talks.
($1 = 618.0000 CFA francs)
(Additional reporting by Alessandra Prentice, Jessica Donati and Felix Njini; Writing by Sofia Christensen; Editing by Alexander Smith)
............................................
SMH states that Mali Junta are seeking $250m. from Resolute.
............................................
gg