A RECENTLY formed investment company, Kilimanjaro Capital, is punting a unique proposition to investors with an appetite for natural resources, risk and political intrigue.
Kilimanjaro listed on GXG Markets on August 29 and currently has a market capitalisation of €5m. GXG Markets is a European regulated market for SMEs, based in Denmark.
Kilimanjaro's business is investment in "future contingent licences" in Africa. It has signed oil and mineral agreements with the exiled leaders of three main independence movements fighting for the self-determination of Cabinda from Angola, Biafra from Nigeria and Southern Cameroons from the Republic of Cameroon.
Kilimanjaro's financial statements for the year to December showed it held just under US$8m in cash and had paid $92500 for mineral rights. It has since signed more mineral agreements. In a presentation on its website, it quotes an opinion from Nebu Consulting that the value of these unvested mineral rights could be at least $150m. These rights will vest when the independence movements achieve self-determination.
In Southern Cameroons, Kilimanjaro has interests in oil and mineral rights over a 43000km² area, including known petroleum in the Bakassi peninsula. Southern Cameroons was formally annexed by the Republic of Cameroon in 1972.
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