An army revolt is underway in Burkina Faso, the latest of multiple rounds of unrest in the West African country. As the army protests over unpaid housing allowances, others are complaining about high food prices. To try and quell the revolt, President Blaise Compaore replaced the army chief....
For now, these companies appear unaffected; SEMAFO said so itself on Monday. But Mr. Rollins noted that “many investors appear to be in no mood to tolerate political risk.”
Despite the risk differential, SEMAFO is actually up in the first hour of trading; it's IAMGOLD that sunk. Evidently, the former company's reassurance that they're having no trouble with their Mana mine was believed. More than a third of SEMAFO's value is tied up in the Mana.
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