We chatted to IronRidge Resources' CEO Vincent Mascolo who explains why the company has become a lithium explorer. Watch the video here.
London South East prides itself on its community spirit, and in order to keep the chat section problem free, we ask all members to follow these simple rules. In these rules, we refer to ourselves as "we", "us", "our". The user of the website is referred to as "you" and "your".
By posting on our share chat boards you are agreeing to the following:
The IP address of all posts is recorded to aid in enforcing these conditions. As a user you agree to any information you have entered being stored in a database. You agree that we have the right to remove, edit, move or close any topic or board at any time should we see fit. You agree that we have the right to remove any post without notice. You agree that we have the right to suspend your account without notice.
Please note some users may not behave properly and may post content that is misleading, untrue or offensive.
It is not possible for us to fully monitor all content all of the time but where we have actually received notice of any content that is potentially misleading, untrue, offensive, unlawful, infringes third party rights or is potentially in breach of these terms and conditions, then we will review such content, decide whether to remove it from this website and act accordingly.
Premium Members are members that have a premium subscription with London South East and have access to Premium Chat. You can subscribe here.
London South East does not endorse such members, and posts should not be construed as advice and represent the opinions of the authors, not those of London South East Ltd, or its affiliates.
For myself, it will not change anything.
You have to remember this is a mine, coping with the terrain made by mother nature, then look to the future prospects.
I'd be interested in any of the more knowledgeable cey holders chiming in here graeme1.
The news next Wednesday will be the "clincher" one way or the other. Any bets?
Given recent market volatility, and considering gold has traditionally been viewed as a ‘safe-haven’ asset, we have previously written about why there are still plenty of reasons to consider an investment in gold. Gold has seen a consistent and high level of total flows this year. Investors can obtain cost-effective exposure to gold via the BetaShares Gold Bullion ETF – Currency Hedged (ASX: QAU).
even better with CEY!
2. Limited financial liabilites (debt, royalties)
3. 10 years reserves
4. Huge social lisecense in Egypt
5. New discoveries and huge ground position in the fastest growing discovery and mining area on the planet!
A good push UP after 9 am ( 2p spike ) and everyone happy, especially the ones buying yesterday at its lows of the day.
Holding well around the 166p help by recovery on the Gold price now +$8.30 and reaching $1900
“Centamin will release its Q3 Quarterly Report on 21 October 2020, and further updates will be provided at that time. Furthermore, the Company will publish the preliminary conclusions of the LOA review by year end.“
No weed, just a small dash of single malt in between printing bucket (large) load of new currency down here in Oz. Just had 2 of the premiers survive no confidence motions, Victoria's 14-day average for new cases still has to be below 5 for Melbourne to move to step three of the state government's road map for easing restrictions on October 19...but the rumours out he may have it wrong...it may in fact be 7.2...just depends on which expert you listen ... like asking 5 geologists to name the rock specimen, and getting 7 different answers.
But, always interested in what happens in the "unofficial gold mining sector"...fell over when the President of Artisinal and Small Scale Miners on one African country told me the estimated annual export of gold was about 500k ounces...and he was sure it was a lot more than that ...its not a small business ...for some...
In one country the presidents brother ran a small refinery, ... all of the registered gold buyers in the country had to sell to the "central "government" office" ... always plenty of ways to make da $
Back to the big end of town. Diggers and Dealers is buoyant but appears quiet for those not attending. Head of Fortescue said she "didn’t get" why men would cram into Kalgoorlie pubs and ogle skimpy barmaids, a popular pastime for delegates at the conference since it started in 1992. Possibly would not understand why condoms were (reportedly) in the delegates bag at one conference. Each to their own I guess? The 2017 consumption tally looked after the well-being of about 2,000 delegates tallied up the following stats: across morning and afternoon teas, lunches and dinners at the Arts Centre the consumption totalled 500kg chicken, 700kg beef, 300kg lamb, 8000 bread rolls, 400 loaves of bread, 2000kg fruit, 2000kg vegetables and 50,000 pastry items. The Aggreko-sponsored coffee machine stand went through at least 60kg of coffee beans while next door the Emeco-sponsored juice store processed 1000kg apples, 1000kg oranges and 1000kg carrots. Pitcher Partners supplied 10,000 battles of water, to try to balance out delegates’ alcohol input. This writer knows what he is talking about, the wine count cruised past 1500 bottles, before things got too much for the counter...and that did not count the extra warm up and wind down consumption in the local Pubs...The tally is going to be interesting this year as many have turned vegans apparently.
Back to the single malt, and glad to not be at Diggers this year, but it is a very buoyant affair...
Lets hope its a good day at the Office for CEY and Gold
Shares on major European stock markets were mixed in premarket trade on Wednesday as investors mainly focused on a resurgence in coronavirus cases across the continent as well as its impact on European economies. London Mayor Sadiq Khan unveiled that the British capital is set to tighten containment measures to curb the infection in the city, adding it is "inevitable" that the city will pass a "trigger point" in the coming days.
Chief economist of the International Monetary Fund (IMF), Gita Gopinath, noted that most countries are not likely to have its pre-pandemic GDP levels back before 2022, warning that the global economy is set to face a "deep recession" this year.
The DAX slid 0.08% at 7:30 am CET, while the CAC 40 in Paris stood flat at the same time. The FTSE 100 added 0.22%. The euro traded virtually unchanged against the greenback, changing hands for 1.17430 at 7:37 am CET.
Breaking the News / GA
Happy Hump y’al
HOLD Harworth; HOLD Resolute Mining; HOLD Centamin
Enjoying a bit-0-weed are we Gnome?
The latest? Small scale and artisinal miners are some of the poorest and exploited on the planet. 83% of the world’s mining workforce relies on Artisinal and Small Scale Mining for their livelihood. That comes to roughly 40.5 million people...at least 30% of which being women. The number of women grows exponentially when secondary activities are factored in. It is estimated that over 150 million people are dependent on the artisanal and small-scale gold sector alone in over 80 countries. The vast majority of those who work directly and indirectly in artisanal mining, do so informally and they are amongst some of the world’s poorest. The ILO estimates that more than one million children work in mines and quarries, a reality that is often poverty driven. These people were vulnerable before COVID-19 and even more so now.
These activities, driven by pverty and aided by greed, corruption and incompetence of the ruling elites, reek unbelievable havoc on the environment, both short term and long. Politicians of all flavours are "close to the action"
Well the GOLD MEDAL went to Ghana in the last fw years, for their diabolical handling of Small Scale Mining
"The global rush to grab resources took an unexpected turn in Ghana recently. With the hike in gold prices from 2008 onwards, a large influx of foreign miners, especially from China, entered into the artisanal and small-scale mining sector (ASM), despite it being ‘reserved for Ghanaian citizens’ by law. Thus all were working on an illicit basis. An astonishing free-for-all ensued in which Ghanaian and Chinese miners engaged in contestation and conflict over access to gold, as well as collusion and collaboration, a situation described as ‘out of control’ and characterised by ‘a culture of impunity’ at its height in 2012 and 2013. Chinese miners in particular, numbering tens of thousands, introduced mechanisation and new technology, resulting in irrevocable changes to this traditional economic sector in a short space of time. Further, the intensification of mining caused incalculable environmental damage to both land and water bodies. Where was the state in this context? "
Guyana was close behind, with their beautiful rivers no awash with mercury...
Peru, Phillipines, Indonesia, Laos, Mali, Burkina Faso, Tanzania, Kenya, Ethopia etc etc ...
Small scale mining, gigantic environmental damage, loss of human rights (less we forget)
Heaven forbid mrtibbles hears about those hangings. Surely they can’t be worse than Trump and Boris?
They are repeating what was said in the RNS "Measures to stabilise movement in the affected area have already been implemented."
POG drop possibly Wall Streets reaction to a miracle recovery and Donald wanting to go amongst and the kiss the people!
Full of Covid- 19 , more likely full of bull*hit!
Ya don’t wanna mess around in Egypt.
I was searching for an article on Centamin about a week ago and I came across an article that stated that the Egyptian government had hanged fifteen political protesters.
It took me aback a bit and I lost concentration on what I was searching for.
.... Chairman of the Board of Directors of the International City of Gold and Mining Company to accuse it of providing a bribe to obtain 50 kilograms of raw gold at a price lower than the traded value estimated at 15 million pounds.
... the accused offered a bribe to a public employee for breaching his job duties. By offering Islam Mahmoud, alias Hamdi Ali – a lawyer at the General Authority for Mineral Resources, an amount of seventeen thousand five hundred pounds as a bribe – in exchange for enabling it to obtain gold ore resulting from exploration work in southern Egypt at a price lower than the trader without supplying it from the competent authorities. Public servant did not accept.
The member of the Administrative Control testified that he had received a report and that he had carried out investigations and that he had recorded and photographed the telephone conversations and the meetings that take place between the two witnesses and the accused.
Confirmed the findings of his investigations, which added the defendant’s presentation of seventeen thousand five hundred pounds – as a bribe to the first and second witnesses in exchange for her obtaining half a kilogram of gold ore at a lower price than the trader, without selling it to the competent authorities and her obtaining 50 kilograms of raw gold.
Ninety thousand pounds, the value of purchasing half a kilogram of raw gold, was caught red-handed.
The accused person in the investigations decided to offer her the sum of seventeen thousand and five hundred Egyptian pounds to the first witness in exchange for being able to obtain a quantity of raw gold from the excavators in southern Egypt.
bellow the reason is called PCI.....
Precious metals drop after flat CPI report; betting on ‘red,’ ‘blue’ or ‘gold’
Posted on October 13, 2020 by Daily Market Report
(USAGOLD – 10/13/2020) – Gold dropped quickly in early trading after a flat consumer price report – an indication that all the best efforts of the central bank and the federal government to ignite the inflation rate have gone for naught – at least thus far. It is down $12.50 at $1913. Silver is down 40¢ at $24.79. Meanwhile, in the background, all the central bank and fiscal stimulus continues to pool up in just about every number except the inflation rate – most notably in the bulging aggregate national debt and a spike in the money supply (Please see our Chart[s] of the Day on the latter.]
“With the national debt now topping $27 trillion, such a [stimulus] package isn’t good for the government’s balance sheet,” writes investment analyst Frank Holmes in an article posted at the Forbes website, “but it’s good for gold. Indeed, the yellow metal traded up as much as 1.8 percent on the news. And I believe there’s additional upside potential—no matter who wins the election. In 22 days, millions of Americans will be betting on ‘red,’ millions of others on ‘blue.’ I’ll be betting on gold. I’m far from the only one. Leon Cooperman became just the latest billionaire investor to buy gold.”
Someone was ready and prepared to get plenty stock 3.4M today at the UT only £6,000,000 and did not mine to pay 162.40p for the lot.
16:35:20 162.40 3,457,403 £6m UT
If true we are in the clear great news.
Bloomberg just quoted the Gold price adjustment today is purely down to the rising dollar that's all. I suppose they feel with Mr Trump now out canvassing that must be a good thing? Time will tell but I have a funny feeling that the dollar will not continue to rise for long. However if the dollar does rise our earnings from sales rated in USD when converted back to GBP will be greater. So lose some but also win some. The best news is if the mines movement has been sorted. If so happy days!
Hey Razors, I suppose their statement is open to interpretation. Capital could be simply putting a positive spin on the situation whilst still avoiding working in or around the pit area in question.
Given Capital may have contributed to the original problem (thru lack of oversight or what have you) it's in Capital's interest to focus on the positives. I won't celebrate until I hear the problem is fixed from Centamin's management — Cheers!
Great find Cowichan I wonder who the top brass in Centamin dismiss the situation so easily, still it is encouraging even to hear it from a 3rd party.
Prices of precious metals posted significant losses on Tuesday as stimulus talks in the United States continued to progress, prompting optimism among investors. Meanwhile, the OPEC asserted in its monthly report that major economies won't see another nationwide lockdown despite the still-expanding coronavirus pandemic.
At the same time, the American dollar extended gains both versus the euro and the pound. Spot gold plunged 1.63% to sell for $1,891.64 per ounce at 10:27 am ET, while silver tumbled 3.59% to $24.20 an ounce.
Palladium sank 2.88% to $2,341.08 per ounce a minute later, with platinum concurrently making a 0.81% drop to land at $871.51 an ounce.
Breaking the News / ND
“Looking ahead into the current quarter, Capital's operations at Sukari, Centamin's Tier 1 gold mine in Egypt continue with no disruptions following the successful safety measures recently implemented in the open pit."