The latest Investing Matters Podcast with Jean Roche, Co-Manager of Schroder UK Mid Cap Investment Trust has just been released. Listen here.
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Cey primed for a leg up. Sukari being sorted contracts being signed and PM's rising all the ducks are lining up here.
Going back down to close gap. Gold also with gap in the charts. Looks like an early morning bull trap.
European stocks declined in premarket trading on Thursday as investors focused on corporate earnings. Airbus, ArcelorMittal and Credit Suisse already posted their results, while AstraZeneca, Nestle, Shell, Total and Lloyds are also set to report before the bell.
The FTSE 100 decreased 0.08% at 7:11 am CET, the DAX fell 0.22% at the same time. The CAC 40 was down 0.08% at 7:21 am CET.
The euro added 0.10% against the dollar to sell for 1.18560 at 7:10 am CET and the pound gained 0.18% compared to the US currency to go for 1.39286 at the same time.
Breaking the News / NP
Gold currently + .57%
This lse site is not functioning correctly since yesterday lunchtime ,price wise.
Have a good day all.
This present time, is a clear indication the Market is totally controlled by the US sentiment, and of course they listen to the FED .Like a religious cult.
I look with great interest what will happen in September when the Basel 111 regulations come in force, in the US.
Will it change anything? I suspect not in the short term, depends of course who enforces the change.
Will it be effective?
Not unless the fines are radically more severe, I feel.
Hi Gnome -Yes the taxation on Crypto is very interesting and perhaps a break through for Gold to move up which will help Centamin. It makes one wonder why no one has thought of it before when it is felt the Crypto money is felt by some to be untaxed earnings and hidden cash. Some kind of registration for it would need to be undertaken and it will become less invisible which will drive customers away into Gold/Silver once more. Could be a game changer? worth watching!?
I guess the question is why not tax crypto's. The Govts have been very slow out of the blocks to catch up to taxing the other technology changers like Google, Amazon, Apple, ...time to get in front ?
The bail outs due from the global central banks has pushed through $20 trillion and hard not to see taxation mounting a charge. Productivity has been flat to decreasing...etc etc
best
the gnome
The point of interest to me of the Barrick move
1. Highlights the exploration potential of Egypt
2. Barrick would know how long it takes to get things going in Egypt (if they dont they are about to learn), BUT having made the effort of braving the Egyptian world, AND GETTING TO KNOW THIS WILL PUT THEMSELVES IN A GOOD STRATEGIC POSITION TO MAKE A LUNGE FOR CENTAMIN (WHO OWNS ONE OF THE FEW TIER 1 GOLD ASSETS). IF CENTAMIN IS CONTINUING TO BE UNDER VALUED BY THE MARKET, THEN I SUSPECT BARRICK IS LAUGHING AND THEY WOULD HAVE A DIFFERENT VALUATION ON CENTAMIN.
BARRICK P/E RATIO 15
CENTAMIN P/E RATIO 11
SO THE CENTAMIN EARNINGS ARE WORTH 36% MORE IN BARRICK, SO WHAT AN INTERESTING %??
MY BET: THIS IS A 2 YEAR PLAY BY BARRICK TO MOVE INTO EGYPT AND CLAIM SUKARI AND CENTAMIN.
SO BEST CENTAMIN GET A RATTLE ON, OR THEY WILL BE GOBBLED UP...AND ALL THE SHORTERS, ...GOOD LUCK, PERHAPS CONSIDER GOING LONG
best
the gnome
Could make the Gold value return to its premier position!
I see Centamin, Hoch and Fres all good buys at the moment and all should respond tomorrow given the previous metals market rises tonight due to a Dovish Fed. As ever always best to spread ones portfolio about but what with the travel comps/a/lines and entertainment stocks I did have a good day.
Hi Mr Tibbles
I woke up about 3am on Monday owing to a load of cars revving along a road near to where I live - about 300 yards away. The next thing was the hounds from a local hunt, started barking and going wild in their kennel which is just up the road. I think the people in the cars were badger baiters who threw the dead badgers to the hounds. We get all kinds of illegal blood sports around here - hare coursing, badger baiting and dog fighting. It's one of the things I don't like about living in the countryside. I try to look after the wildlife, and some others kill it. It's just the world, I suppose.
Hi Red,
I hope so too, I can't stand that arrogant wild animal slaughterer up his own rear end "Bristow" overpaid and full of his own importance!
Possibly that map has disappeared down the back of the settee with the court case papers!
Hi Rebess,
My points exactly about the market pricing things in becauase it is looking forward, from our experience of Eygpt the market would need to be looking forward at least a decade to price anything in and then it would only be guessing!
Barrick wont be producing anything other than promises of what it might be iproducing n Eygpt for at least 5 years and by that time who knows some renogade may launch a legal challenge in the courts, that could take a decade or two, this Barrick deal is pie in the sky at the present!
Bristow will no doubt hype it though up and pay himself a bonus!
Eygpt is a great place for politicians to talk and for the judicery to procrastinate, any investor needs to consider these facts very carefully!
Hi
Does Anyone know if Barricks blocks are near our blocks? or Sukari?
There used to be a map, I cant find, Im also not sure of the Barrick block numbers
She walks in beauty, like the night
Of cloudless climes and starry skies;
And all that’s best of dark and bright
Meet in her aspect and her eyes;
Thus mellowed to that tender light
Which heaven to gaudy day denies …
an overdose obviously
best
the gnome
I love the way the report mentions the 'giant' Sukari deposits. I hope we will not have to experience any cheeky bids in the near future.
Well, the gold price was forecast to be volatile for the first part of this year, and tediously boring for the second part of this year. Forecast correct so far. In fact, it's so boring that Goldgnome appears to have burst out in song. 'Oh what a lovely mine.'
OK - Old news. - Interesting though that they are to work with other participating exploration & mining companies, over the period of 1 year to finalize terms. - 1 YEAR !!!!! - So, don't hold your breath, especially if it's an Egyptian year. - It's going to be some time before we see this news reflected in the SP I feel. -
http://www.barrick.com/English/news/news-details/2021/barrick-secures-egyptian-exploration-licenses/default.aspx
Thanks Mr Bond, if there is a shady deal going on then old Sawface will be uoto his neck in it!
https://enterprise.press/stories/2021/07/28/la-mancha-fund-aims-to-raise-usd-300-400-mn-investments-48151/
Better to buy a bordello franchise?
Australia is paying the price for it slow vaccine rollout (won't go on the blame trail, but its the usual suspects) and the Gold Miners have warned of steep rises in production costs because of labour and skill shortages exacerbated by random (but of course divinely inspired?!) Intrastate and International border closures (in a pandemic, any government border will do?). Would anyone self respecting Geologist want to go bush? etc and if they did what would they discover, given all of the low hanging fruit has been discovered/
Newmont chief executive Tom Palmer said the company was expecting cost escalation of up to 5 per cent for materials, energy and labour as the COVID-19 pandemic drove inflation around the globe. He maybe conservative, as inflation has popped up with (a spike obviously, LOL)....a 3.8 per cent annual rise in the consumer price index which will not trouble the RBA...who know not what they need to know (how the world works).
So the cost of mining goes up (significantly), the cost of discoveries even more... and has already gone up significantly and will continue to soar, and the price of gold, controlled by the ..xx people.. will do what the ..xx people.. want, until there is a significant disconnect, and then the price of gold will lurch forward, as the shorters and the rorters get caught out?
Well my tip, .... the POG must rise, or the game will be up, and I think all prefer the gold price to go up, especially those in China who are the worlds biggest gold producers and hoarders.
"The bells of hell go ting-a-ling-a-ling for you but not for me"
The POG will go ting-a-ling-a-ling-a-ling for us, all but not for some?
best
the Gnome.
Shares on major European stock markets were mixed during premarket trading on Wednesday with corporate earnings season and the Federal Reserve's upcoming monetary policy statement in focus.
Earlier, Deutsche Bank posted a higher-than-expected profit for the second quarter of 2021 and raised its revenue target for next year. Meanwhile, the Fed was set to announce its latest policy decision with investors gearing up for possible hints on when the central bank might start tapering its asset purchases.
The DAX rose 0.22% at 8:00 am CET. In Paris, the CAC 40 declined 0.11% at the time . Finally, the FTSE 100 was flat.
Breaking the News / JC
Happy hump y’al
Gold currently + .39%
Enterprise News Egypt. This morning.
Check out Sawaris now turning La Mancha into a fund ,buying small to medium sized companies in financial difficulties.
Good ploy if mugs invest !