Gordon Stein, CFO of CleanTech Lithium, explains why CTL acquired the 23 Laguna Verde licenses. Watch the video here.
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I did say before the US numbers were released at 13:30 in the US yesterday that wage growth data was the most important- glad to see the analysts are now catching up and reporting this hehe.
Lower than expected wage growth generally means lower cost of production/supply of a lot of goods which means less inflation which means less chance of rate hike as all the fed care about is inflation - this is why I keep saying “inflation, inflation, inflation…”
SteveJones999
Posts: 1,876
Price: 79.10
No Opinion
RE: SP6 Oct 2023 13:28
It's all linked, the FED went to hit their inflation.
A miss on wage growth is more important to gold than NFP.
US Labour market: what's behind unexpected growth?
Business Matters
Employers added 336,000 jobs in September, almost double the 170,000 estimated, according to figures released by the Labour Department.
Great news if you're looking for work there, of course, but if you're in the Federal Reserve, America's central bank, and worried about the economy overheating, maybe not so good.
https://www.bbc.co.uk/programmes/w172yzrrxxk9085
06 Oct 2023
Available for over a year
The World Trade organisation has halved its estimate for global exports growth this year - from 1.7% to just 0.8%. Ngozi Okonjo-Iweala, WTO director-general, said the projected slowdown was “cause for concern, because of the adverse implications for the living standards of people around the world”.
https://www.bbc.co.uk/sounds/play/w172yzrrxxk63c2
Spot prices of precious metals jumped on Friday after the latest United States nonfarm employment report showed slightly lower-than-expected wage growth, seemingly leading traders to believe that inflation could soon subside to acceptable levels and make the Federal Reserve cut interest rates.
Gold increased by 0.69% to $1,833.06 per ounce at 11:59 am ET. Silver gained 2.84% and reached $21.56 per ounce moments after jumping by as much as 3%.
Platinum advanced 2.38% to $884.86 per ounce at 12 pm ET. Palladium climbed up 1.12% to $1,145.25 per ounce concurrently.
Baha Breaking News (BBN) / MS
🗣️“Gold mining as a development engine within emerging economies presents huge economic potential” – Martin Horgan, Centamin CEO.
A thought-provoking panel discussion on the future of gold at today’s
@FinancialTimes
Mining Summit.
@ftlive
#FTMining #Gold #CEY
short video link
https://twitter.com/CentaminPlc/status/1709969890981851526
More video on demand will be available on Monday 9 October here:
https://mining.live.ft.com/
1:20 PM - 2:00 PM GMT +1 / 6:20 AM - 7:00 AM Your local time (40 Min)
Panel Discussion: A Modern Gold Rush - Will it Continue?
Gold is often a safe haven in times of uncertainty such as the present moment. But what place does gold have in a digital world? And is gold’s role expanding in a “de-dollarised” world? This panel will explore gold’s role in the modern era and how it is evolving.
How do investors view the gold industry, and how is that shifting?
What is the sustainability case for gold?
What has been the impact of Russian sanctions and de-dollarisation?
Note: Mr Horgan is there as a speaker ( & director Marna Cloete albeit not as a Centamin rep) https://mining.live.ft.com/page/2313657/speakers
Also, Barrick's Mr Bristow is there speaking - so that makes 2 conferences where Barrick and Centamin's CEO's were present in the span of a month
Kareem Elkady
Administrator at Sukari Golden Mine
3h •
ما ينفعش تبقي مدير مسئول الا لما تفهم يعني ايه نفس بشرية بتتأثر بالسلبية و التقليل من الشأن و اللوم و قلة التشجيع.
متبقاش مدير إلا لمًا تفهم إنك مسئول عن نفسية الناس اللي شغاله معاك و تخلي معنوياتهم في السماء يا تنزل بيها ل سابع أرض.
متبقاش مدير الا لما تخلي الناس تصحي لشغلها و هي عايزه تروح مش شايلة هموم الدنيا فوق كتافها.
متبقاش في منصبك همك بس الشغل يخلص حتي لو علي حساب نفسية إنسان و تقطيمه.
خلي ده هو معيار نجاحك.
By:Azmi Gaber
#sukari_golden_mine
It is not useful to remain a responsible manager unless you understand what it means for a human soul to be affected by negativity, underestimation, blame and lack of encouragement.
There is no manager left unless you understand that you are responsible for the psychology of the people who work with you and empty their spirits in heaven or bring it down to the seventh earth.
There is no manager left except when you let people wake up to their work, and they want to go away, not carrying the worries of the world over their shoulders.
You don't remain in your position, but work is saved, even if at the expense of the psychology of a human being and breaking him.
Let this be your criterion for success.
B:Azmi Gaber
#sukari_golden_mine
https://www.linkedin.com/posts/kareem-elkady-ba6380190_sukariabrgoldenabrmine-activity-7116060342631174144-VXIT
Abdulrahman Mohamed and 8 others
----------------------------->>>>
As I follow news of Sisi's run for a 3rd term , it's clear Egyptian politics are a strange mix of pseudo religion, superstition and nationalism. I suppose in some ways Egyptians get out what they put in, which isn't great for their economy, unfortunately.
Russian oil trading and the Chinese push for all 1.4 billion citizens to regularly purchase gold through the People’s Bank of China.!
The impending supply demand imbalance, explaining how soon one third of global gold resources could quickly be consumed by even a small percentage of Chinese citizens purchasing a gram each month!
https://tinyurl.com/5xmjmsfz
Looking back you also need to factor in the political and concession licence legality uncertainty not to mention the undiscovered grades and the true potential of the underground operations and the lifespan of the mine.
Possible a fair share price should be nearer at least £1.30!
When comparing with the past, Reserves and resources plus cash in the bank need to be factored in. The best comparison is with H1 with average gold sold at 1935 say at 220,000 (425M revenue). Q3 probably 118,000 ounces but at 1925 price 227M revenue and Q4 with 60,000 hedged at 1900 and let us 1700 for 60,000 worse case (216M Revenue). the revenue is within $2M and if gold was 1800 average for unhedged it would be plus $4M. Although there is more Capex in H2 the reserves and resources are updated. H1 average price is 106p and we are nowhere near it.
Reading Kitco this afternoon, some say US interest rate will go up ,others say interest rate will be on hold.
In other words they dont know.
Dont trust any of them.
Look usa stock market moving up again they don't care about job data. Unfortunately, gold is stuck.
But any long term holder knows that this share price is just "Silly' , it was higher than now before Sukari stage 4 was completed, the CAPEX repaid and the commencement of profit share and payment of dividends !
It's pretty stupid that funds and institutions are buying into government bonds nderwritten by the creation of even more debt!
Looks to me like a load of part time, seasonal new jobs, as well as growth in government non-jobs. Not clear evidence of a strong economy at all, IMO.
But OK, let's see if they raise rates again. Heck, go straight to 7%. That will prove one way or the other if the US economy is strong :)
A lot of people do not believe the figures coming out of BLS on NFP anymore. They revised two earlier months higher as well. A lot of temporary workers were getting employed for Christmas run in and a lot of retirees getting replaced are listed as a new job number. So the revisions get made when the retired job gets filled or whatever. A lot of temporary jobs then disappear but some get counted again when temporary employment returns. In the meantime used as an excuse to lower gold prices and pump USD.
Not good news alas- data so far points to US doing better than expected, again (plus re adjusted last month up too), which means inflation concern monthly marker for FED, which points to continued hawkish stance on rates.
Wage growth not too high though.
It's all linked, the FED went to hit their inflation.
A miss on wage growth is more important to gold than NFP.
Pls job drop
Waiting for US data starting 13:30UK Time.
https://www.marketwatch.com/economy-politics/calendar
Look at the SP today never since that before moving near a straight horizontal line ??????
IS this a major support line or it waiting for the US job data?
Yep, inflation, inflation, inflation.
Centamin will host a virtual investor and analyst presentation and Q&A session on Thursday, 12 October 2023.
The event will start at 14.30 BST (UK time). Martin Horgan, CEO, and Ross Jerrard, CFO, will present the updated life of mine plan for the Company's flagship asset, the Sukari Gold Mine.
EVENT ACCESS
To join the webcast: https://www.lsegissuerservices.com/spark/Centamin/events/e9d8edd6-7536-4e63-810f-a08189c4f89b
Please allow a few minutes to register. A replay of the event and presentation material will be available on the Company's website
Major European indexes traded higher in the premarket on Friday as investors processed the recent comments by European Central Bank officials indicating that the current level of interest rates will have to be maintained for some more time. Additionally, data on British house prices and German factory orders are expected to be released before the opening of the markets.
The DAX gained 0.25% at 7:33 am CET, while the CAC 40 added 0.26%. The FTSE 100 rose by 0.13% and the Eurostoxx 50 increased by 0.29%.
The euro was down 0.10% against the dollar at 7:37 am CET, selling for $1.05387. The pound sterling lost 0.14% to go for $1.21752 at the same time.
Baha Breaking News (BBN) / JJ
*Weak share price is the market and the sector.
Happy Friday y’al
Weekend Dead Ahead, Enjoy!
Tornadotony called it - incomplete data on market screener or just glitchy - whatever the reason this is the website data shown today:
Van Eck Associates Corp.
110,273,580 9.519 % 123 M p
https://www.marketscreener.com/quote/stock/CENTAMIN-PLC-9730915/company/
The Federal Reserve's aggressive "higher-for-longer” monetary policy stance continues to take its toll on gold as prices hold near their lowest levels since March.
While the precious metal has room to fall lower, one bank remains optimistic that despite the near-term weakness, prices can still rally above $2,000 an ounce next year and higher through 2025.
In her latest precious metals commentary, Ewa Manthey, commodities strategist at ING, said that gold prices have fallen more than 11% from their May highs above $2,000 an ounce as the Federal Reserve's hawkish outlook has pushed long-term bond yields to their highest level in 16 years. December gold futures last traded at $1,833.60 an ounce, relatively unchanged on the day.
https://tinyurl.com/5eprrzh7
Exactly the same as last night.
Get used it .