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A deliberate reference from our outgoing CEO.
Sawiris / la mancha a key backer in Endeavour Mining who are big in West Africa, specifically.
Agreed booboo! The La Mancha name was the biggest thing to hit me having just read the RNSs.
Sawiris is a predator!
I doubt we'll make it 2 years, this is the fund that our new Non Executive Director is tied to as referenced to in the RNS:
https://www.mining.com/la-mancha-launches-1-4-billion-gold-mining-fund/
Investor meet 1030
My guess is Eric got promoted and will take a job in one of the majors, after successful completion of Sinigda and WK drilling. I am pleased to see that Sinigda output is already 3kOz per month. It is a pity Eric leaves, I hope the momentum he created will keep Shanta going for a few years until its acquisition by the major.
Hum yes is good to but huge debt
Luke and Eric took over Shanta when it was in a dire state and have turned the business around with some some sensible financial approaches and some very smart M&A with West Kenya. It's a puzzle why both have now left the company especially as the difficulties over the last couple of years seem to be behind the business. I do wonder whether the recent failed offer talks caused some issued with major shareholders?? I'm not a Shanta shareholder myself but did hold stock some years ago so always look in with interest. Shame t0 see both go but could suggest that predators might return and Eric can't fight them off this time.
I guess HUM is much riskier jurisdiction (Mali), and its output is super volatile. In October, its market cap was 3x less than now due to disastrous output, high AISC and local insurrections.
Just reading the Shanta Gold results for Q1-23 with 15k/oz production @1429$ AISC. Well done / some invest also in Hummingbird Resources which made in the same quarter 27K/oz @1109$ AISC. Shanta 137M MCAP , Hummingbird only MCAP of £84M. They also close to go live (june) with a new mine which push production up to 60-70K/oz a quarter. Are we overvalued or they are just undervalued?
Eric leaving second RNS, a total shocker guys!
Just reading the Shanta Gold results for Q1-23 with 15k/oz production @1429$ AISC. Well done / some invest also in Hummingbird Resources which made in the same quarter 27K/oz @1109$ AISC. Shanta 137M MCAP , Shanta only MCAP of £84M. They also close to go live (june) with a new mine which push production up to 60-70K/oz a quarter. Are we overvalued or they are just undervalued?
Eric leaving second RNS, a total shocker guys!
On the money with the exception of February at NLGM, again, these things happen in mining. Offset with Singida now producing well above nameplate before April is even out, NLGM is now a circa 72K Oz a year mine without significant resource exploration.
CEO going, pushed, jumped, burned out. Either way, they need a serious replacement to take WK forward.
That's a shame, he's done an amazing job here.
His step down could be for a million reasons.
I wish him all the best.
he did a job and I guess someone he's offering him a bigger job
did he jump or was he pushed?? regardless, production on its way north....
After a good set of results
Hmmm.
Shocker
maybe read up about how much shg help community development in Tanzania .!! 25p coming
noel what a statement this is ..!!! - like you know !!!! sell up then
and if the gold price did suddenly rocket to $2,500, then African and South American countries would seize the mines, possibly not paying compensation.
Which is exactly why I'm 'balls deep'' (over 2m shares) in GGP (being in Australia so a far safer less corrupt jurisdiction) instead of here (with a modest 29,441 holding only)!
NoelShempsky,
You are a junior and in need of re-education!
20 years ago today one troy ounce of gold was worth one troy ounce of gold. In £GBP it was priced at £202.88. ($US 349.97).
My car x 8 would cost me £272k today but I can get a similar model for £60k instead so my $34k invested in gold and sold today would buy me four cars instead of one and some chump change to attach a speedboat to one of them!
My 10g bars were costing me £52 .....today more like £550...Go figure?
My Shanta Gold shares are down some 65% in 16 years....
I noted that you speak through your rectum...but I have kept quiet 'til now.....but now that you've confirmed it, it's not my fault!
And some people vote you up....go figure! lol.
Best to remember that one ounce of gold is worth one ounce of gold......but at a 5,000yr. high against fiat derivatives.
Time for you to DYOR NoelShempsky! Best wishes. Nice weekend.
The big threat - "Chile Stuns Markets And EV Makers By Nationalizing Lithium Industry Overnight"
https://www.zerohedge.com/markets/chile-stuns-markets-and-ev-makers-nationalizing-lithium-industry-overnight
... and if the gold price did suddenly rocket to $2,500, then African and South American countries would seize the mines, possibly not paying compensation.
" I wonder whether back say 20years ago when gold was £200......whether you'd have been saying the same "pinch of salt" theories on gold being £1,600......and a 5,000 year high in 2023....and yet here we are!"
It was in either 2002 or 2003 when I first started buying gold stocks, so just over twenty years ago. BTW, gold wasn't at £200, but perhaps you meant dollars.
It is true that, back then, the idea of $2,000 \ £1,600 gold would have pleased me, but not if I had known that it would take 20 years - 20 years of waiting.
My point was that those mouthpieces build up un-realistic expectations, they speak as though the big rise is next week or month. They are as bad as second hand car salesmen trying to sell dodgy motors.
I've been in the gold arena for over twenty years, so don't try to educate me, I've heard it all before - many times.
Noel Shempsey....... you say "I know we've had a steady rise to $2,000, but these people go on about $2,500, $5,000 or even $10,000." I wonder whether back say 20years ago when gold was £200......whether you'd have been saying the same "pinch of salt" theories on gold being £1,600......and a 5,000 year high in 2023....and yet here we are!
I think "viagra'd" inflation and interest rate rises will both rise a little more and stay for a little bit longer .........so the herd thinks that gold is not a good investment??? Just need to look at how gold performed in the stagflationary 1970s......X20......is 2000%....now, although we may not see 70's interest rates, gold looks like an asset of value and a hedge against economic distress, market volatility and massive money devaluation. And when the herd loses confidence??? During recession sometimes there is also stagflation - inflation, poor GDP and low employment put together. The Federal Reserve can either "improve" the economy by lowering interest rates and wreck the $ which will light gold up...or they can raise interest rates and wreck the economy which will light gold up. Perhaps the market will demand higher interest rates regardless forcing the Fed to QE! Gradually a strengthening alternative southeastern part gold backed currency will gradually put pressure on the $ which will keep gold lit up.....central banks get it....that's why they're buying more gold! And what will happen to lower supply and higher demand.....yep my common phrase again....gold light up and lit up! And that's why we invest in SHG and the like....important to have a portfolio..and not all eggs in one basket...hedge a bit...keep some dry powder for opportunities.
I think the chart is looking promising.
As I always say, I'm not a TA expert, so I appreciate other views on chart analysis, but I do think the sp is about to make a good leap up.