China Confidential
Wednesday, November 26, 2008
Mumbai Signals New Phase in Islamist War on West
Foreign Confidential....
Intelligence experts say the Islamist war on the West, which began in earnest on September 11, 2001, could be entering a new phase, starting with the highly coordinated attacks on Mumbai
Low-intensity urban--and suburban--warfare aimed at paralyzing and demoralizing Western and non-Muslim, Western-oriented societies followed by a new wave of mega-attacks, including nuclear or radiological dirty-bomb attacks ... that is the new face of Islamist terror, according to this reporter's expert sources.
Mumbai Model for Future Attacks on the West
Foreign Confidential....
The brazen, coordinated, Islamist attacks on Mumbai--with a clear focus on killing Westerners--constitute a template for future terrorist assaults on Western cities by jihadist and Al Qaeda-associated groups.
While the West, since 9/11, has been focused on the threat of mega-terrorist attacks, Al Qaeda and its associated and affiliated groups have been plotting low-tech assaults, which can be carried out by suicide squads armed with automatic weapons, hand grenades, and other conventional weapons.
Imagine several SUVs descending on midtown Manhattan--or New York airports--depositing terrorists armed with ordinary handguns and shotguns. Imagine how many innocents could be slaughtered before the terrorists could be taken out.
Imagine, too, attacks on hospitals, schools, housing complexes ... all these things are being planned and plotted by Al Qaeda. No nation, no city, no neighborhood is safe as long as this group is alive and well.US Warns of Al Qaeda Threat to NY Subways as Terrorists Lay Siege to India's Financial Capital
The U.S. government has warned against a possible terrorist plot targeting the New York subway system during the holiday season, a spokeswoman for the Department of Homeland Security said Wednesday.
In a joint internal statement sent late Tuesday, the department and the Federal Bureau of Investigation warned state, local and other officials of a 'possible but uncorroborated' Al Qaeda threat against the New York transportation system, said Laura Keehner, a spokeswoman for the Department of Homeland Security.
The agencies were still working to verify the information. Commuters and travellers on transit systems in major metropolitan areas would likely see increased law enforcement presence during the holiday season, Keehner said.
Assault on Mumbai
Overseas, India's financial capital, Mumbai, is under siege, as heavily armed attackers have targeted numerous locations throughout the city in an unprecedented, ongoing assault.
The state government says nearly 80 people are confirmed dead and 150 others are injured so far.
Police say gunmen with automatic weapons and grenades have attacked at least nine different places in this highly coordinated series of terror attacks. The sites include two train stations and two luxury hotels - "The Taj Colaba" and the "Oberoi"--as well as hospitals and a dockyard.
Authorities say gunmen are still barricaded in the hotels, where they are believed to be holding hostages. Reporters outside The Taj Colaba report hearing an explosion inside the luxury hotel. Gunmen also have attacked the well-known Leopold's restaurant, which is popular with tourists.
Islamists Suspected
A businessman from London, Rakesh Patel, told local television that he escaped from the Taj Colaba Hotel after being taken hostage by two young gunmen. He said the attackers specifically wanted people with British or American passports.
The railway inspector general in Mumbai KP Raghuvanshi says the attacks are terror-related.
Islamist groups are suspected.
India's Home Minister Shakeel Ahmed says the main priority is to overpower the attackers.
A member of parliament from southern Mumbai, Milind Deora, says the explosions were caused by grenades, not bombs. But witnesses say the gunmen also fired indiscriminately.
Authorities say Indian army troops have been called in to help police secure the city.Citigold Raises Cash, Lists on NASDAQ Dubai
Foreign Confidential....
Australian-based Citigold Corporation Limited (ASX:CTO; NASDAQ DUBAI:CTO; FSE:CHP) is now listed on the NASDAQ Dubai following the rebranding this month of the Dubai International Financial Exchange (DIFX).
Citigold Managing Director Mark Lynch said these moves reflect the growth of Dubai as an international financial centre. “Citigold’s recent $35 million capital raising deal with the Dubai Group demonstrates our company’s long term commitment to this major gold and financial centre. The region is now further enhanced through rebranding the international stock exchange, Nasdaq Dubai."
Adding further strength to Citigold’s fundamentals is the current Australian gold price which is above $A1,200 per ounce with the fall in the Australian dollar.
Earlier Placement to Dubai Group
The Dubai Group, a leading diversified financial services company of Dubai Holding, through its subsidiary Dubai Ventures Group Limited, acquired up to an 18% stake in Citigold for A$ 35 million. The capital raising raised up to A$35 million through a staged securities placement to Dubai Group. Initially a placement of 50 million shares at A$ 0.20 per share (A$10 Million) will be carried out followed by a Convertible Loan at a 9% p.a. interest rate that is convertible into shares of the Company at A$ 0.26 per share within a 2.5 year term.
Lynch said, “this transaction reflects our long-term view on gold and Citigold’s ability to enhance shareholder value by ramping up production to 250,000 ounces per annum by 2011.” Citigold re-affirmed its 10 million ounce gold deposit at Charters Towers.
During the September quarter Citgold's completed the capital raising to underpin the capital works program at the Charters Towers gold mining operations. Citigold aims to ramp up production and increase Citigold’s status to a mid tier gold producer. This saw the removal of a major restriction to the ramp up of mining operations, with the completion of the 3MW electric grid power upgrade to site. The completion of the upgrade coincided with the move to a 24/7 operation. This combined increase in both power and operating time in August has now been established. Citigold is now accelerating the underground capital works necessary for increasing gold output.
The mine plan is to achieve an output, at full production, of over 300 000 ounces of gold per year from the overall Charters Towers Project. The review concluded that current mine planning is largely based on actual achieved performances. On the basis of the equipment that Citigold now owns and operates, plus the judicious use of specialist contractors when required, there is no technical reason why the development and production targets should not be achieved.
Gold Production
Gold revenue for the quarter from production was A$4.33 million on the sale of 3,960 ounces. This was at an average per ounce sale price of A$1,094 per ounce. The cash operating cost for the quarter was A$371 per ounce. The amount was lower than usual due to the fact that some of the production was mined and expensed in the previous quarter. Excluding the previous quarters production the cash operating cost would have been approximately A$480 per ounce. The cash operating cost coupled with the current Australian gold price, above the $1,200 per ounce level, implies a gross profit margin above 50 per cent.
Cash at end of September quarter was $9.0m. Market Capitalisation was $133m. Citigold's last trading price was 20 cents, up 14.5%Maoists Kill Five Policemen in India
At least five policemen were killed Tuesday in a landmine blast triggered by Maoist rebels in India's central state of Chhattisgarh. The explosion that took place in the southern Bastar district of the state blew up a bridge killing five policemen and injuring two other security personnel.
The rebels carried out the blast when the policemen were returning after their election duty at polling booths in the region.
Chhattisgarh is one of the six Indian states holding elections.
Senior police officials and additional police forces have been sent to the region, considered a hotbed of Maoist militancy.
Maoist militants, who claim to be fighting for the rural poor, operate in 13 of India's 29 states. They usually target police and government installations. The Maoists are so powerful in several districts of central and eastern India that they virtually run a parallel administration.
According to independent estimates, over 500 people, including civilians, police and rebels, have been killed in Maoist violence in India since the beginning of the year.
Thursday 27 November 2008
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