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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Having more time on my hands now to follow MM proceedings I had no real idea how much the SP was jerked around. Crackers.
Sorry for the delay in reply,
Egyptian employees & Fuel is procured in Egypt and paid for in EGP.
Sotolo,
Do you happen to know if there was any fuel hedging this year ?
Yes of course Auson, but the Egyptian pound has been almost flat against the dollar this year ranging from 15.6 to 15.76, plus many costs like heavy machinery are in dollars, and the oil price is ultimately connected to its dollar price. So it is the pound dollar that counts for us and a lower pound raises our sterling profits
I remain very confident in Martin Horgan and I am looking forward the next update and seeing the results of his new strategy in 2022!
Sorry some typo's 'below due to me posting to soon, but you know what I mean, still haven't got used to this awful Windows 10, seems to have a mind of its own Microsoft want's us all to subscribe annually TO "Cloud Based services" , not good for the environment as the servers use huge amounts of energy in comparison to making a once off purchase and installation of your own software DVD .
I am going to uninstall all the cloud based Windows 10 Office apps and reinstall my own Office 2016 DVD.
Hi Mr Gnome ,
I agree entirely Mr Gnome, what goes on at a local level in UK government is bad enough with the misinformation and ward boundary manipulation but this is much worse at central government level, the Tories now are manipulating constituency boundaries and watering down the powers of the regulator (Electoral commission).
The Brexit campaign cited the undemocratic way the way the commissioners are elected, (by the member states elected MEP's) in some ways this may be more democratic more than the way the most senior civil servants (Permanent secretaries) those with real power are appointed which is still down to the prime minister and very can be dependent on the old pals network or the color of your public school tie
https://www.instituteforgovernment.org.uk/explainers/permanent-secretaries
9 December 2019
The European Commission isn't directly elected by citizens in the EU. But the President of the Commission needs to be approved by Members of the European Parliament (MEPs) who are elected by voters from member states. MEPs also vote on whether to approve Commissioners who are nominated by governments of member states.
'Democratic' means different things to different people,
https://fullfact.org/europe/eu-facts-behind-claims-democracy/
https://fullfact.org/election-2019/ask-fullfact-eu-commission-unelected/
Our constituency is unfortunate in having a particularly lazy Tory MP who was chosen to stand after his predecessor ((Tory)former laedrr of the council was forcedto stand down due to selling off punlic assets at a knok down price and also arranging arrbging Publivc Works Boards loans of £10 million for a local business man forthrough the council.
The business man got away with the £10 million and the MP avoided prosecution and bnow works in Tory central office!
Onr new MP an EU sceptip chosen by central office and elected for some reason lives 130 miles away and never appears to anwer any letters for his constiuents!
It seemed a good opportunity to add here this morning despite having had a few negative thoughts in the 90s.
Just 10 trading days until December 1st when we know where the company is at.
Let’s hope we can stay north of 102p this week. Will be happy for any finish about that
Hi Sotolo,
Are wages and fuel for example paid in Egyptian pounds ?
if gold were to stay the same but the dollar halve, then gold would double in sterling which is what matters to us and sterling profits would go up by maybe 4 or 5 times! The exchange rate affects our sterling share price considerable and when everything else is the same a falling pound makes our share like other UK shares that make their profits abroad more valuable. Anyway with my simple maths! All the best and another thing that has been helping us, now lets have rising gold, rising dollar, and rising ounces mined.
Australia is a democracy.?
Not in my definition.
Democracy implies one (voter) has a robust choice of parties, and a party that best represents one's interests and values. This has not been the case for several decades in Oz, and I suspect elsewhere.
Whilst appreciating the history of Australia's development from comprising (very) large groups of criminals from the UK justice system, and a group of the most miserable people on earth (thanks Williams Dampier), so miserable in fact that despite living here for 60,000 years, the good few had to decalre the place Terra Nullius!? ... it is hard to consider that Oz does not have a proper representative government elected via a democratic process (lets not talk about gerry mandering, pork barreling, corruption etc)
But, democracy is a great idea!
the skeptical gnome
Sotolo the currency rates should have nil affect on the value of the product or the value of the share.
…not only to s a good week but to a great month and a stonking rest of year, since late 2015 when I rejoined the Centamin party, most years there has been a lift of starting in Nov or early Dec taking us through Xmas and into the new year. Let’s hope a few of the crypto investors notice gold moving and decide to switch a bit…here’s dreaming…
Almostdone sorry I thought we was talking about the UK and historic UK Civil wars.
Sure there are other democracies that are compulsory but I don't live in them so couldn't care less how they see democracy :)
CandidInvestor
Yep, fair comment. Here is to a good week !
Mark
Razor do you mean a stronger dollar, as the dollar is strengthening versus the pound from above 1.40 towards 1.30. Cey is priced in pounds, so it is the sterling price of gold which matters to us and if gold stays flat, and the dollar rises against sterling, the sterling gold price rises by that percentage. Moreover as Cey trades and reports in dollars, profit move is augmented by the pounds fall, so the share price rises a bit, all a small part of the great recent rise. For us rising gold and rising dollar is golden.
The real prize is for the price of Gold to rise organically independent of the currency exchanges.
Hi Ik,
I believe Australia is a democracy but:
Australia – The Australian Electoral Commission states: "It is compulsory by law for all eligible Australian citizens to enrol and vote in federal elections, by-elections and referendums." Introduced for state elections in Queensland in 1915, excluding Aboriginal and Torres Strait Islander (Indigenous) Australians.
As stated above they have not the freedom not to vote.
The weaker the dollar the better provided the POG is adjusted in situ.
The dollar is slowly moving from $1.40 to the £, to $1.30 (where it was five years ago.)
Hi,
I was wondering what people think about the prospect of a rising $ and a crashing $ over the next 5 to 10 years.
Russia, China and lots of other non western central banks have started to sell down the usd and move to gold. Naturally this is good for cey as they are a gold producer but my question is what will happen if the world does shift from the usd to say euros and china and a more diversified currency set. How do you all see the impact of such changes on the price of gold and inflation, digital currencies etc
Personally I see America slowly crashing out over the next few years and dragging the rest of the world along for the ride.
AlmostDone, People sacrificed their lives not to vote but for democracy vs "right to vote", As such, democracy is also the freedom to not vote as stated by bobliz.
Shares in Europe traded mostly lower in the premarket on Monday after Germany's incidence rate, the number of those infected with COVID-19 per 100,000 people, reached another record. The country's figure for new cases registered daily declined slightly but remained high. Meanwhile, the European Union continued to express its concerns regarding the entry of migrants into its territory.
The DAX stood flat at 7:14 am CET. At the same time, the FTSE 100 lost 0.13%. The CAC 40 decreased by 0.11%.
The euro went up by 0.09% against the dollar to sell for $1.14561 at 7:23 am CET. At that moment, the pound sterling rose by 0.06% against the greenback to go for $1.34298.
Breaking the News / JR
bobliz35 : Your point 3 in some countries is unlawful, the voting population are required to vote by law.
I personally am split on this, as I believe I should be able to not vote, but there are people who have sacrificed their lives for the right to vote.
ATB