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Quite so Mr Bond, lets hope that this is good for the POG!
https://www.foxbusiness.com/economy/atlanta-fed-chief-bostic-doesnt-see-need-more-rate-hikes
Depends on cpi data released later today in the USA
No chance of credible deniability by the BOD this time then!
Feds Raphael Bostic sees no more rate hikes.
If the rest of them have softened good news for Gold price and Centamin.
Has the Tide turned ?
1:30 AM · Oct 10, 2023 - 251 Views
Last week we welcomed our #Board of Directors at #Sukari. In addition to Board & Committee meetings, they were able to witness first-hand the significant progress being made by our dedicated team in #Egypt to grow & optimise the #SukariGoldMine. 🤝👷♂️👷♀️
#CEY #gold #governance
pics here:
https://twitter.com/CentaminPlc/status/1711645288664793209
Hi Cowichan,
Shouldn't affect Centamin too much as I believe most buying will be in $ ,
Of course the local workforce might want a pay rise, but then their local currency is devalued.
Aside from its unique geopolitical significance, Egypt has a unique position in the global oil market that is not lost on the U.S. and its allies. Over and above its official conservative estimate of around 1.8 trillion cubic metres of gas reserves, Egypt controls the major global shipping chokepoint of the Suez Canal, through which around 10 percent of the world’s oil and LNG is moved. It also controls the vital Suez-Mediterranean Pipeline, which runs from the Ain Sokhna terminal in the Gulf of Suez, near the Red Sea, to Sidi Kerir port, west of Alexandria in the Mediterranean Sea. This is a crucial alternative to the Suez Canal for transporting oil from the Persian Gulf to the Mediterranean. The Suez Canal is one of the very few major transit points that is not controlled by China.
https://oilprice.com/Energy/Energy-General/Western-Companies-Look-To-Grow-Influence-In-Egyptian-Oil-And-Gas.html
Will NVIDIA (market cap > 1 trillion USD) be the next Enron?
https://laductrading.com/fraud-always-marks-the-top/
Major European indexes traded higher in the premarket on Tuesday following yesterday's Wall Street trend, as investors remained hopeful that the Fed may pause raising interest rates at its future policy meetings. Stock markets showed signs of recovery after the first impact of the eruption of hostilities in the Middle East, following Hamas' surprise attack on Israel launched on October 7.
The DAX gained 0.52% at 8:00 am CET, while the CAC 40 added 0.59%. The FTSE 100 rose by 0.33% and the Eurostoxx 50 increased by 0.96%.
The euro was flat against the dollar at 7:58 am CET, selling for $1.05621. The pound sterling lost 0.08% to go for $1.22281 at the same time.
Baha Breaking News (BBN) / JJ
Good night all ,sleep well. :-)
So if neccesary, devalue.
Will not affect Cey ,it can obtain anything it wants.
It can produce Gold, international currency.
On Thursday, October 5, 2023, Moody’s credit ratings agency lowered Egypt’s rating from B3 to Caa1, which is a credit grade that indicates the presence of significant risks surrounding the repayment of the state’s sovereign debt. ✅
◼️ The downgrade of Egypt's credit rating reflects the deterioration of the government's ability to bear debt, and the continued shortage of foreign currencies, in the face of increasing external debt service payments over the next two years, according to Moody's. ✅
◼️ Thus, Moody’s rating is now two notches lower than that of Standard & Poor’s Global and Fitch, and Egypt awaits the next review by Standard & Poor’s on October 20, followed by Fitch on November 3. Both have a “negative outlook” on their ratings for Egypt, according to Reuters.
https://www.bloomberg.com/news/articles/2023-10-05/egypt-downgraded-by-moody-s-amid-dwindling-policy-options#xj4y7vzkg
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IMF says Egypt must devalue its currency further and quickly or Egypt's reserves will soon be gone.
What are the implications for Centamin ? Will it be able to operate if supplies are hard to obtain? Sure, more Egypt dollars for every US dollar received from gold sales - but if you can't obtain necessary supplies internationally - what happens?
What is the sustainability case for gold?
In the 1990s there were 180 major gold discoveries
In the 2000s there were 117 major gold discoveries
In the 2010s there were 42 major gold discoveries
Like to make a guess how many there will be in the 2020s. Hint land access is getting more problematical. Deposits getting deeper and lower grade. No new gold exploration tools for hidden deposits ...no direct detection tools ...
good luck with finding new gold deposits...in short supply
the gnome
Tibbs just catching up on a few posts and find your reduce the number of kids somewhat Developed country rhetoric. In the developing world there isn't such a thing as social care, government national pension schemes and the security blanket that you enjoy.
So like it or not kids are produced and the extended family develops to protect the elderly who can no longer work to look after themselves. The more kids the less of a burden on each individual.
The villages and small townships create far less pollution than a single street or road because they seldom have gas and electric multiple radiators, ovens, fridges and freezers and all so called creature comforts. They do however produce more children per household with kids walking miles to school after their morning chores, fetching water tending to goats or the odd free range chicken that share their hut.
Unfortunately simple solutions in this world of variations aren't easy and could be damaging the less complicated family structures.
Unfortunately it is the developed world that needs to address the issues of climate change and pollution.
Major problem is politicians only skilled at politics and not what is really needed to overcome real life issues.
Granted population growth has to be a contributory factor but not developing alternatives to oil and gas quickly enough is the major issue and politicians talking and debating only slows the inevitable need for alternatives.
Hi Razors & Paul,
Agree with you both!
That would be nice Razors-------but I don't think the update will be much more than "Steady as she goes +" as that seems to be the way Martin Horgan plays it. It would be nice if it was better than that, and if we are above the target for ounces mined that will give a bit more confidence.
I think an update on the waste clearance coming to an end and the expected fall in costs would be welcome.
We are due a bit of good luck with this.
I do hope Horgan and co have something positive to say on Thursday.
No doubt it’ll increase the share price stride, we can only hope it’s in the right direction.
No Razors let em get on with it.
Major stock indexes in Europe traded mostly lower in the premarket on Monday as traders continued to scrutinize geopolitical events taking place in the Middle East over the weekend. Meanwhile, on the data front, reports on the euro area investor confidence, alongside German industrial production are on the agenda today.
The DAX was down 0.32% at 8:02 am CET, while the FTSE 100 was flat and the Euro Stoxx 50 decreased 0.34% at the same time. The CAC 40 fell 0.18% at 8:03 am CET.
The euro was down 0.33% against the dollar at 7:59 am CET, selling for 1.05543. The pound lost 0.29% versus the greenback and went for 1.22040 at the same time.
Baha Breaking News (BBN) / AY
Happy Monday y’al
G’d morning Mrbond, any Skyfalls over the weekend?
Well Razors, whether Gold rose thro middle east skirmish or just overvalued Fiat currencies dosnt matter.
It was long coming, welcome back to the realms of reality.
Prices of most precious metals rose after hostilities between Palestinian militant group Hamas and Israel escalated over the weekend. Traders were apparently seeking safe-haven assets after over 40 hours of military conflict in the Middle East left over 1,100 people dead and after a media report that other regional powers may have been involved.
Gold rose by 1.16% to $1,852.02 per ounce and silver moved up 1.18% to $21.82 per ounce at 12:12 am CET on Monday.
Platinum advanced 0.44% to $884.41 per ounce and palladium was flat at $1,140.90 per ounce a minute later.
Baha Breaking News (BBN) / MS
Capital Ltd (CAPD), previously known as Capital Drilling, is an example of a small-cap stock being hit disproportionately hard by negative news, says Allianz Global Investors’ Richard Knight.
The Citywire Elite Companies A-rated mining services company has a focus on the gold mining industry in Africa and is a top 10 holding in Knight’s Allianz UK Listed Opportunities fund where it makes up 2.4% of the £197m portfolio.
‘The shares have performed poorly following a trading update in July, though the update was only slightly soft on revenues and led to very minor downgrades in profit expectations for the year, though management guidance was maintained,’ Knight said.
He added that the ‘more salient news’ was the ongoing longer-term contract wins in mining services in new metals and in new geographies that ‘significantly de-risk the business operations’. This, along with growth in materials testing means it ‘warrants a much higher valuation than the group average’.
Shares in Capital added 1.8% to 79.8p on Friday, but have tumbled 17% this year.
———
*Capital are the main contractor handling the waste clearing at Sukari
Iran is the master mind, and you know what follows, Other islamic nations could be complicit...and you know what follows ... sadly. You can bank on the us$ LOL
Perhaps a better strategy than declaring war on China...LOL.
When will humanity evolve?
good luck to all
the gnome
Not to worry he the official was instsntly arrested.
So presumably "He" is in deep poo poos.
Two Israeli tourists and local guide shot dead in Egypt, Israel says
Two Israeli tourists and their Egyptian guide have been shot dead in the Egyptian city of Alexandria, the Israeli foreign ministry says.
Another Israeli was wounded in the attack on Sunday morning, which the ministry said a "local" carried out.
There was no immediate confirmation from Egyptian authorities.
https://www.bbc.co.uk/news/world-middle-east-67046394
https://tinyurl.com/yfeca8ha