Business
Questions & Answers with Kilimanjaro Capital CEO Zul Rashid
Questions & Answers with Kilimanjaro Capital CEO Zul Rashid.
About this update from N1 Technologies Inc
[{"type":"text","content":"\n \n \n Questions & Answers with Kilimanjaro Capital CEO Zul Rashid\n \n \nQuestions & Answers with Kilimanjaro Capital CEO Zul Rashid\n \n BELIZE CITY, BELIZE--(Marketwired - Aug 11, 2014) - Kilimanjaro Capital (OTC PINK:KIMJF) - \n Kilimanjaro Capital has come out with a number of recent initiatives in North America and Africa; how serious is the commitment to consummating these deals?\n Kilimanjaro aims to fulfill the terms of these opportunities. The Long Coulee agreement with Verity Energy is a longer term project but we have the goal of eventually acquiring that property. North American gas and oil will balance our assets and provide good shareholder value. Today, we are announcing that we are moving ahead with the Sika Resources agreement in Tanzania. This deal can close very quickly due to outstanding cooperation from Sika Resources. The proposed work plan for the gold deposits will be announced soon and funding mechanisms are under negotiation.\n What happened in Somalia and why did Kilimanjaro suspend its operations there?\n Unfortunately, the Somalia Federal Government has suffered several reversals in recent months at the hands of the Al Shabaab terrorists and the security situation has deteriorated. The majority owner of the ACA Block declared force majeure status making block funding unlikely in the near term. Even though Kilimanjaro made great strides in the region and had signed understandings with two security firms and was in negotiations with logistics, aerial survey, and drilling firms; we had no choice but to suspend operations. Once the situation has stabilized we will return to Somalia.\n Is Kilimanjaro still committed to its Future Contingent Assets in Africa?\n By all means yes! We are bullish about Cabinda, Biafra, and Southern Cameroons prospects for the long term. The politics in those regions favor eventual self-determination. These assets have minimal carrying costs and a huge upside if successful. We are also observing the situation in Zimbabwe and waiting for opportunities to arise there in the Matabeleland region when the ZANU-PF government of Mugabe finally exits. \n The Kilimanjaro share price has taken a hit recently despite all the good news; what is your take on that?\n I can't second guess the market but as CEO I believe the stock is undervalued at present. We made the decision to ...