Tuesday, February 22, 2011


GMG: -5.2% at $0.275 with a heavy 28m shares traded, as investors shy away from counters perceived to have exposure to geo-political risk, amid political violence in N Africa and the Middle East. GMG faces some risk, with the Ivory Coast's disputed presidential election still unresolved amid violent clashes between supporters of both sides…

A foreign brokerage analyst says, GMG hasn’t fallen that much relative to the mkt, but is still exposed. Notes GMG has operations in Cameroon and Ivory Coast, though the latter is purely processing, and contributes about 10-15% of profits, which is manageable. Adds mgt said previously that operations were still on track. But notes newspaper reports of foreign banks being shut down may affect their cash flow operations.

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