RE: Ghana to lose over $600 million

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• GHFUO, MALLAM MAHAMA BB! 10 years ago

  TODAY, ITS TOUGH TO MINE FOR GOLDIN GH. THE FOREIGNERS HAVE BEEN MINNING FOR GOLD FOR TONS OF YEARS. NOW, GOLD IS SO SATURATED.

  TODAY, ITS TOUGH TO MINE FOR GOLDIN GH. THE FOREIGNERS HAVE BEEN MINNING FOR GOLD FOR TONS OF YEARS. NOW, GOLD IS SO SATURATED.

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• kabokabo 10 years ago

  President Mahama said it in Kumasai that Ghana is loosing 1.3billion dollars as a result of falling gold and cocoa prices so what a big deal here?

  President Mahama said it in Kumasai that Ghana is loosing 1.3billion dollars as a result of falling gold and cocoa prices so what a big deal here?

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• ATINGA FRAFRA 10 years ago

  THIS GUY ABRAHAM, MGR IS JUST LIKE A TYPICAL GHANA MAN.....TIMID AND WANTS TO KEEP HIS LITTLE JOB. ABRAHAM IS JUST AN ASSHOLE KISSING THE ASSES OF HIS SUPERIORS. SO WHAT IS THE POSITION OF THE MINERALS COMMISSION ON THE FALL ...
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  THIS GUY ABRAHAM, MGR IS JUST LIKE A TYPICAL GHANA MAN.....TIMID AND WANTS TO KEEP HIS LITTLE JOB. ABRAHAM IS JUST AN ASSHOLE KISSING THE ASSES OF HIS SUPERIORS. SO WHAT IS THE POSITION OF THE MINERALS COMMISSION ON THE FALLING GOLD PRICES. ABRAHAM IS AN UNINFORMED IDIOT...PLEASE LEARN TO SPEAK YOU MIND. HOW MUCH ARE YOU PAID MONTHLY

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• TEE 10 years ago

  MAHAMA WILL STEAL THE MONEY EVEN IF THE MONEY ID THERE, SO IT DOES NOT MAKE NO DIFFERENT IF WE LOSE ---$600 MILLION PERIOD. MAHAMA THE USELESS HOPELESS THIEF IN OUR HISTORY YES

  MAHAMA WILL STEAL THE MONEY EVEN IF THE MONEY ID THERE, SO IT DOES NOT MAKE NO DIFFERENT IF WE LOSE ---$600 MILLION PERIOD. MAHAMA THE USELESS HOPELESS THIEF IN OUR HISTORY YES

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• TEE 10 years ago

  AND LOOK AT US WE ARE A POOR NATION ONLY HAND FULL OUR POLITICIANS ARE RICH WHY AND WE ARE GOING TO THE BAILOUT BOX AGAIN IN 2016 NO NO NO MAHAMA AND HIS NDC NORTHERNERS ARE ALL LOOT AND SHARE CHECKS AND BALANCES PERIOD

  AND LOOK AT US WE ARE A POOR NATION ONLY HAND FULL OUR POLITICIANS ARE RICH WHY AND WE ARE GOING TO THE BAILOUT BOX AGAIN IN 2016 NO NO NO MAHAMA AND HIS NDC NORTHERNERS ARE ALL LOOT AND SHARE CHECKS AND BALANCES PERIOD

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• Brokeman 10 years ago

  If the country is going to lose more than half a billion dollars due to the fall (let us say about 5%, unless the source would report the exact figure) in gold prices, it can be extrapolated to mean that god is bringing in ov ...
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  If the country is going to lose more than half a billion dollars due to the fall (let us say about 5%, unless the source would report the exact figure) in gold prices, it can be extrapolated to mean that god is bringing in over $10 billion of good currency each year. The great question is this: before the fall in gold prices occurred, what were we doing with the revenue from Gold and other minerals, cocoa, oil and timber? I read somewhere that we are losing about $1.5 billion on cocoa purchases, too.
  One wonders why our budgets never report these figures.

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• C.STEPHEN SACKEY 10 years ago

  In the heady days of the cold-war when the Soviets'projected wheat production fell short,they bought wheat futures call option contracts- locked in the price for future wheat delivery. They saved tons of rubles in ...
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  In the heady days of the cold-war when the Soviets'projected wheat production fell short,they bought wheat futures call option contracts- locked in the price for future wheat delivery. They saved tons of rubles in the process.That prompted reporting requirements still being enforced.
  
  In the United States Treasury Dept they have staffers whose sole job is to trade interest rate futures- they buy calls and put options contracts on the CFTC- calls when interest rates decline and puts when they rise. Of course they don't cover 100% of their basis but they mitigate the "spread".
  
  
  In the scheme of global economy $600M is a drop in a bucket but it's not chop suey either for Ghana's economy. It would buy a bucket full of "kyikinga".
  The Minerals Commission should play the futures market- they should just man up,they will get burned once in a while, a la Kwadwo Tsikata at TOR, but they would LEARN in the process- whinning will not do it. The irony in all of this folks is that the continents circling African has commodities futures market and don't have a swat of commodities Africa have.
  
  
  In the parlance of African- Americans- the greatest people the world has ever known, adversity be damned- the rest of the world is playing Africans for suckers.

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• Emmua... 10 years ago

  So what are the mineral commission's own official projections? Provide the alternative figures! Useless organization, manned by baboons!

  So what are the mineral commission's own official projections? Provide the alternative figures! Useless organization, manned by baboons!

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• G. K. Berko 10 years ago

  What is important to the Public is not whether or not the Commission associates itself with what its employee said but whether what he said was true or not.
  
  We all know that there are a lot of issues the Commission would ...
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  What is important to the Public is not whether or not the Commission associates itself with what its employee said but whether what he said was true or not.
  
  We all know that there are a lot of issues the Commission would rather keep out of the Public's knowledge. So, pulling away from the employee who made that disclosure does not necessarily negate his assertions. The Management of the Commission may be more concerned about losing its jobs than telling us the truth we ought to know.
  
  However, it could be in the best interest of both the Nation and the Management that some transparency is shed on the status of our Resources to help ease the political pressure off the Commission, and allow for public input to help correct the problems prevailing.
  
  Long Live Ghana!!!

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