bongo gold rush?

Prospecting for gold in Kigosi, Tanzania

Tanzanian Royalty: No gold, where's the value? -Barron's

NEW YORK, April 12 (Reuters) - 

Tanzanian Royalty Exploration Corp (TNX.TO), a gold explorer has no revenue, no earnings and no proven gold and could be substantially overvalued, Barron's said.

Its shares trade at premium to peers, and its chief executive has been selling shares, Barron's said in its April 13 edition.

Chairman and CEO James Sinclair is famous for correctly forecasting gold prices and is very bullish on the metal, but he has been a steady seller of shares of his own gold-related company, Barron's said.

While Sinclair has had success predicting gold prices, the company does not have a good track record of finding gold, Barron's said.

The small-cap Canadian outfit has been looking for gold for a decade but none of its properties, all in Tanzania, have shown economically viable miner reserves, Barron's said.

If it were valued more like its rivals with similar cash and gold reserves, its shares should be priced substantially lower than the current $4.05 per share, Barron's said. 

----------------------

Tanzanian Royalty says Barron's report misleading

TORONTO, April 13 (Reuters) - 

Tanzanian Royalty Exploration Corp (TNX.TO) said on Monday that a recent article in the financial weekly Barron's mischaracterized the company, as its business model is essentially that of a royalty company.

The Barron's article in its April 13 edition said that Tanzanian Royalty, a gold explorer, has no revenue, no earnings and no proven gold. and could be substantially overvalued.

The report said shares of the company trade at a premium to its peers, and that its chief executive has been selling Tanzanian Royalty shares.

"In comparing the business structure of our company to others, it might have been more appropriate to select a company in the Royalty business including those with royalty-based gold production," CEO James Sinclair said in a statement.

The small-cap Canadian outfit has been looking for gold for a decade but none of its properties, all in Tanzania, have shown economically viable miner reserves, Barron's said.

If it were valued more like its rivals with similar cash and gold reserves, its shares should be priced substantially lower, Barron's said.

However, Tanzanian Royalty disputed a number of claims made in the Barron's article.

"To be a failed exploration company you need to be two things: First you must fail, and secondly you must be an exploration and development company.

 Seeing the majority of our properties fall under royalty agreements, this is hardly a fair categorization of the company by Barron's," Sinclair said. (Reporting by Euan Rocha; editing by Richard Chang) 

lady madonna

Madonna on the rocks

Pop star Madonna will not be allowed to adopt a second child from Malawi, the three-year girl Mercy James Chifundo, the Malawi’s High Court said last week.

 

The ruling will please campaigners who say that authorities have given the singer special treatment. Which is a load bull crap.

I know societies like to claim that we have equality before the law – but we all know that some among us are more equal than others. The fact is that Madonna is someone special. Not everyone can adopt a platoon of kids of all races. Just try to adopt one kid and see.

 

Earlier the Malawi government, which came under fire after Madonna adopted a 13-month-old, David Banda, had said that it would support a second adoption. Court registrar Ken Manda told reporters that Madonna’s bid to adopt Mercy had been rejected because the star was not a resident of Malawi. Which is simply hogwash?

 

The decision came as a surprise since Malawi’s Child Welfare Minister Patricia Kaliati had earlier come out in support of the singer’s application for the adoption of Mercy. Madonna has appealed against the ruling. Of course and I am sure under the pressure from the Malawi government the High Court will see ‘sense’ and let Mercy go.  

 

I am sure if Madonna had chosen to adopt kids of  Malawi High Court judges themselves instead of Mercy James, she would have been feted all over Malawi. It’s the usual game of hypocrisy. When an African kid is given a chance to live decently some hypocrites come up with high-faluting ideas about ‘child trafficking and human rights.

 

Mind you, this is in country which has a million plus orphans, half of whom have lost parents to AIDS. 

 

On her visit to the country, Madonna was photographed with the father of David Banda whom she had also adopted. The father, in a natty suit, probably bought by the star, was all teeth with joy. You could tell that he could not believe his luck.

 

In the Wazungu who are against Madonna’s move, you sense a sneaky whiff of racism. How come hardly a noise is raised the Wazungus adopt South American, Indian and far eastern orphans, while they foam in the mouth when a Black kid is about to be adopted?

 

I would have thought the case was of the star and the kids’ parents to decide. Last year Madonna spoke of being drawn to the people of Malawi, particularly the children.

 

Madonna first travelled to Malawi in 2006 while filming a documentary on it’s devastating poverty and AIDS crisis, and later decided to adopt a child there. 

 

The Malawi government had earlier said that Madonna had helped the country and was a worthy mother who was supporting over 25,000 orphans. Madonna’s charity, Raising Malawi, plans to build a multi-million dollar school for girls in Chikota village outside Lilongwe.

 

Are the courts going to tell us whom and what to like? I think Big Brother is really breathing down people’s neck! But we should cut the hypocrisy, Mercy James Chifundo was not about to be a victim of child trafficking!

waheshimiwa

Let’s vet top appointees

I hear in neighbouring Uganda, the Bunge has to checkout all presidential appointees. If they sense a disaster in a certain appointment, the MPs simply reject the president’s choice. This is just great!

 

To enhance the little democracy we have Bongo, we should have such a system, not today but yesterday.

Some appointments are so suspicious that they border on the ridiculous. I have seen on TV, some of our parliamentarians who can hardly read.

I am sure if you go closer to them you might find out that they can hardly write their own names. But you can bet that they can count their allowances and many of them are busy ‘getting’ those PhDs from the universities of Kusadikika. 

 

The trouble is, after elections there is the ‘thanks giving’ to all those who ‘helped’ the Big Man’s march to Ikulu, whose name we will keep classified for now, or they say,  ‘jina tunaliminya’.

 

The odd thing about politics is that, like the rest of us, even politicians have a past. Now real politicians are basically like chameleons. They can change their colour at a click of your fingers.

But most African politicians can’t escape from their past – a thing which can be quite embarrassing in the future, especially in a country with a healthy and reliable grapevine like ours.

 

I may be wrong to talk about African politicians. I should say ‘politicians’ per se. Former US President Bill Clinton admitted to have done things which were ‘inappropriate’ with one Monica Lewinsky, while in the White House.

 

Former British PM John Major and a Cabinet member Edwina Curry had a fling when he was in power. In a Cabinet reshuffle he forgot to reappoint her for a post and she went to the vibrant British press and sang like a canary, embarrassing the Bwana Mkubwa like hell.

 

I mean if we had a vetting by Parliament, some guys would simply disappear. Right now if you ask for someone’s qualifications you might end up with embarrassing answers. PD (President’s Buddy – Hons),

MwR (Mshikaji wa Rais - Upper Second Degree)

 

For example, ask a guy why he has the post he is in. You might get a reply like this: “I am the Mkuu’s buddy. He and I have been friends for years. My wife is also the friend of the First Lady.”

 

Ask a lady: “Sister, what makes you think that you qualify for this important and sensitive job?” An MP asks in the Bunge.

 

“Ah, I think I qualify because I am the President’s ka-chick. He is sooo-o-o sweet, isn’t he?” The lady tells the Bunge with a la-di-da voice.

 

Ask others guys, who are sailing through life clinging on their parents coat-tails: “I am my fathers’ son or daughter. I am planning to run for President because my father was a President.”

Yes, we might get such idiosyncrasies in the future.

 

As I said, we all have a past and that past can catch-up with us in the future! But the rest of us hate to be victims for one man’s or woman’s past.

 

mailto:

alusekelo@gmail.com

ya kale ni dhahabu kweli?

Mzee Ndejembi

Wazee vingine hatukubaliani

Nadhani wengi miongoni mwetu, nina maana, wale ambao ni vijana, tulipokuwa tunakua tulifundishwa kuwaheshimu na kuwatii wazee wetu. Mara nyingi neno lao lilikuwa ni amri, yaani, kama sheria.

Kwa sisi vijana, hata kama pale ambapo tulikuwa hatukubaliani nao kabisa, tullikaa kimya tu. Na kutokana na hekima zao wazee wetu nyakati hizo, waliweza kujua kama wamekubaliwa ama wamekataliwa.

Juzi wazee wanne waliokuwa katika CCM zamani, wakiongozwa na Mzee Pancras Ndejembi, waliita waandishi na kutuambia jinsi wanavyoona wao kuwa nchi iendeshwe.

Wazee hawataki Rais Kikwete apingwe katika uchaguzi wa mwaka 2010. Sawa kabisa! “Utaratibu wetu ndani ya chama unafahamika; Mwinyi tulimpa miaka kumi, Mkapa naye vile vile, lipi baya alilofanya Kikwete hata tumnyime asiendelee kwa kipindi kingine?” alihoji Mzee Ndejembi.

Ni haki yao. Lakini wakati wazee, ambao tunategemea wamejaliwa na hekima, wakisema hivyo nao wajue kuwa na sisi wananchi wengine wa Tanzania, tuna haki yetu vile vile.

Sijui wazee wamesahau kuwa kuna Katiba? Kwa hoja ile ile ya kuheshimu Katiba yetu inayotamka wazi kabisa kuhusu haki ya kupiga kura au kupigiwa kura kwa kila raia wa Tanzania, ukiwa katika CCM au hupo, una haki hiyo.
Sasa wazee wanapoanza kuzungumza kuhusu ‘utaratibu wetu’ miye naona kama vile wanataka kuwatisha wana CCM wenye nia ya kugombea cheo hicho.

Lakini, kuwania kiti chochote kile, ni haki ya kila mwananchi. Na wazee wangetusaidia sana kama wangeshikilia kuwa Katiba ifuatwe neno kwa neno, na siyo kusema mambo yaendelee kama ‘enzi zetu’.

Kwa heshima na taadhima, sharti tuwaambie wazee wetu kwamba wanapswa kutambua kuwa hizi ni nyakati zingine. Enzi zao, ‘Enzi za Mwalimu’, kuwa kiongozi katika CCM lilikuwa ni jambo la kujivunia na kuheshimika.

Leo je?

Yaani, wazee wanataka kutuambia mikiki iliyokikumba Chama chao ni uongo? Kama ni hivyo, basi Watanzania tutakuwa wanafiki wa kutisha. Inabidi tuwaeleze wazee wetu, wajue kuwa sasa wananchi tumefanywa mafala na mibwege ya kutupa. Ila, wakati umefika wa kusema kuwa hatutakubali kuendelea kupuuzwa namna hii!

Hata vijana na makada wao wa chama wamechoka na wanakerwa sana. Mbunge wa Kishapu (CCM), Fred Mpendazoe, amesema kuwa ni lazima wananchi wote, bila kujali itikadi zao, washikamane kupambana na mafisadi ambao alisema ndio wanaoitafuna nchi peke yao.

Mpendazoe amesema wazi-wazi kwamba, wananchi hawataielewa serikali yao iwapo haitawachukulia hatua wamiliki wa kampuni ya Kagoda Agricultural Limited inayotajwa kuwa imechota mamilioni ya fedha kutoka Akaunti ya Madeni ya Nje (EPA) ilyokuwa ndani ya Benki Kuu ya Tanzania, na kashfa nyinginezo.

Wazee wameonyesha kukerwa na tuhuma za ufisadi zinazoelekezwa kwa baadhi ya wana CCM wenzao. Sasa wazee wetu wanataka nini? Tujifanye kuwa huo siyo ukweli bali ndoto za mwendawazimu tu?

Nao akina Mpendanzoe na makada wenzake kadhaa katika CCM wameonyesha kukerwa na tabia za kuendelea kuwakumbatia watuhumiwa wa ufisadi wakiwemo na wizi wa fedha za EPA.
“Kuna methali ya Kisambaa isemayo: Ukitaka kuepukana na nzi, tupa mbali kibudu. Hii ina maana kwamba ukitaka kuepukana na harufu chafu, using’ng’anie mzoga,” alisema Mpendazoe.
Labda wengine wangemuuliza Mbunge huyo: Je, kama wewe ni fisi, kweli utaucha mzoga huo? Kwa fisi, kwake kila kitu anaona mambo poa tu!

Salaam toka kwa Nasibu

Vipi Mazee,

Hongera kwa kuanzisha blog. Nimeitembelea na ninaona sasa utakuwa na kontakti moja kwa moja na wasomaji wako.

Hiyo italeta changamoto kwa dizaini mpya.

Kazia nyuzi hapo hapo mpaka gitaa lilie! I would like to give some suggestions if you think that is ok.

Wako,

Nasibu Mwanukuzi

Webmaster/CEO

Kongoi Productions

www.kongoi.com

adam lusekelo foundation floated

Hi Adam,
I like your style, but what is your mission?
Would you mind starting The Adam Lusekelo Foundation so that you canbetter mobilize people to take action on all these grievances you arewriting about?
Siku njema

Fredrick

old is gold?

The ‘enzi za Mwalimu’ factor

In human conflict when one part is loosing men more than they can recruit into the ranks, they usually increase the conscription age.

Men as old and in their fifties are pressed into armed service. It is called dad’s army. There is an emergency on and you need every hand to help.

It seems the ruling CCM is crisis and they have recruited a dad’s army to help out. Five veteran CCM leaders, headed by former CCM chairman for Dodoma, Mzee Pancras Ndejembi on Sunday strongly reprimanded CCM dogodogos to stop even thinking of challenging the Prez, Jack Mrisho for the re-election of the presidency come 2010.

According to this dad’s army everything is squeaky clean within the CCM. The wazee also told the young guys (dogodogo) to stop pointing fingers and recoil from the stink within the CCM. In short the dogodogo should wear smiles while facing the stench. In the days of dad’s army ‘enzi za Mwalimu’ everything was okay. Dad’s army also roundly condemned rebuke fellow party members for attacking scandal-plagued politicians.

Quite. But dad’s army should know that in the days of Mwalimu, party members did not steal public monies like there is no tomorrow as it is now.

And, worse, there seems to be no punishment, but a tarting up of the whole farce! You just cannot spray perfume on rot. The stench of rot will always seep through.

In our cultures younger Africans usually don’t speak back to the older members of society, however much they have goofed. But now it seems the younger members have decided not to take such blamed sitting down. One of the dogodogos in the CCM, Fred Pendanzoe has decided to break the law of ‘omerta’ – the mafia’s law of silence.

The Kishapu legislator has what most people want to hear. He has called for the purging of the ruling party and cadres implicated in various recent corruption scandals, as part of a wider crackdown on high-level graft in the country.

I doubt if the dad’s army will find those words very romantic and sexy. The veteran leaders have waved warning fingers on ruling party MPs who have developed tendency to publicly speak out against prominent CCM public leaders facing serious sleaze allegations.

"My fellow countrymen, I urge you to unite in this fight against corruption. We have nothing to lose, except our poverty," said Mpendazoe.

"Just a few Tanzanians are enjoying the wealth of this nation," he added and in the process divulging a state secret!

He emphasized that CCM leaders plagued by sleaze allegations should be kicked out of the ruling party’s ranks, for the good of the party itself.

Mpendazoe further warned that the government could face a public backlash of unanticipated proportions if political heavyweights behind the infamous Kagoda Agriculture Limited company are allowed to go scot-free for their prominent role in the Bank of Tanzania external payment arrears (EPA) looting scandal.