Yikes! Whose next? Egyptian billionaire to buy 30%
Dear Jim,
I would like to call the attention to all CIGAs to please watch the following Bloomberg interview.
Today on Bloomberg Marc Faber is calling attention to the opportunity for large capital gains that exist in the mining sector, precious metals, mining shares and gold shares: https://marcfabersblog.blogspot.ca/2015/09/its-tipping-point-marc-faber-warns.html
Jim said fasten your seat belts, it’s going to be a journey.
But the bigger the bear, the bigger the bull market will be on mining stocks. The performance could follow the same pattern as internet stocks in the 90s.
This Gold Mania could beat that period in a grand fashion. Smart Money is accumulating mining shares. It’s a fact
Egyptian billionaire to buy 30% of Endeavour Mining
Cash -flush Naguib Sawiris eyes stake in Endeavour.
Kevin Crowley (Bloomberg) | 22 September 2015 23:16
JOHANNESBURG – Naguib Sawiris, one of Egypt’s richest men, will become the biggest investor in Endeavour Mining Corp., a Toronto-listed gold producer with assets in four west African countries, as he expands his interests in the region.
Sawiris, through his investment company La Mancha, will acquire 30 percent of Endeavour, the companies said in a statement Monday. La Mancha will pay for the shareholding with its 55 percent stake in Ity gold mine in Ivory Coast, a $63 million cash injection into the operation and investing a further $75 million into Endeavour.
More…
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