RE: AVK.TO instead...
Gave up while ago MTO. Now you want a real one? Avnel Gold Mining
Following a 10 minute review of the company’s accounts, it is reported that:-
·Avnel Gold Mining Limited is registered in Guernsey & owns 100% of Avnel gold Limited.
·Avnel Gold Limited (“AVG”) is a Cayman Islands offshore tax haven company.
·AVG’s main asset is an INDIRECT interest, via a West African Mali company, in Mali mining interest.
·The Mali govt owns 20% - could the position be reveresed with Mali 80% and Avnel 20%.....
·The company reports contingent liabilities relating to $210,000 unpaid payroll taxes; $280,000 VAT, penalties and interest of $640,000 – totalling $1.13m
·Malian Labour Tribunal has confirmed a judgement of $231,000 against the company.
·The company has 191m issued shares and an equity book value of $26.4m – 13c a shares.
Politically, one does not have to look far to be very concerned about the state of Mali……
Mali
| 1 Dec 2010
Continued focus on 7 hostages including 5 French nationals captured in Niger Sept by al-Qaeda in the Islamic Maghreb (AQIM), held in Mali. France reportedly rejected 17 Nov AQIM demands for immediate withdrawal of French forces from Afghanistan; French defence minister Alain Juppe 23 Nov confirmed govt contact with AQIM kidnappers. Joint military operations launched 8 Nov in Mali-Mauritania border areas to control drug trafficking, increased Islamist activity.
In contrast, MTO’s past problems seem to pale comparison to AVG. Politically, there is no comparison between Mali & Quebec.
With regard to any investments in Mali, the comment “…. Get out of Dodge ….” May be worth considering.
Thanks, but no thanks