Venezuela stopped bond payments in September

Section:

By Jonathan Wheatley
Financial Times, London
Monday, April 9, 2018

Venezuela stopped paying bondholders in September, according to central bank data, contradicting statements by President Nicolás Maduro that the country would continue to honor its debts while negotiating a resettlement with its creditors.

The data show that regular foreign debt payments of hundreds of millions of dollars a month, in line with the country's sovereign obligations, fell to a few tens of millions from last October for fees and the legacy of a 1980s-era restructuring.

"This proves that Venezuela is deliberately hoodwinking bondholders and engaging in a stealth default," said Russ Dallen of boutique bank Caracas Capital, who follows Venezuelan debt closely. ...

... For the remainder of the report:

https://www.ft.com/content/c291cb76-3c20-11e8-b9f9-de94fa33a81e



ADVERTISEMENT

Cobalt Blockchain Announces Supply Agreement
for Cobalt Concentrate from DRC Artisanal Mines Co-op

Company Announcement
Friday, April 6, 2018

TORONTO -- Cobalt Blockchain Inc. (TSXV:COBC) announced today that it has successfully negotiated a supply agreement with one of the largest local mining cooperatives in the Lualaba province of the Democratic Republic of the Congo.

Commencing in June 2018, the company will be supplied with a minimum of 40,000 tonnes of cobalt concentrate per year, with a minimum grade of 1 percent cobalt.

"This is a significant milestone in our strategy to generate near-term cash flow," noted Lance Hooper, Cobalt Blockchain president and chief operating officer. "Supply agreements with established mining cooperatives complement our plans for larger-scale, mechanized production activities on mineral concessions in our property portfolio." ...

... For the remainder of the announcement:

https://www.newswire.ca/news-releases/cobalt-blockchain-announces-supply...


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