The latest Investing Matters Podcast episode featuring Jeremy Skillington, CEO of Poolbeg Pharma has just been released. Listen here.
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Egypt is going to be a part of the BRICS and will have far more options of what it uses to pay im waiting to see what comes out of there meeting on the22 to 24 August.
Hi Cowichan,
Well isn't this usually the case with Centamin , they make the slick presentations to shareholders about linking up to the grid, but in reality the country cant supply its existing domestic users/customers!
This is a valid and important consideration that needs addressing before Centamin commits funding to the project or promotes the potential cost savings which may turn out to be undeliverable any further with shareholders!
I wonder how many shareholders will take the trouble to raise this question with the company, likely not many , if any,more likely to go into "Ostrich mode", or put on the rose coloured glasses!
The Egyptian ministers and departments like EMRA seem very good at talking the talk , but never so good at walking the walk!
“I’ve learned that when a man with money meets a man with experience, the man with experience ends up with the money and the man with the money ends up with experience.”
H. Jackson Brown, Jr.
1907, 1902 and 1890 in play for spot gold. Failed to break and hold away from down channel. 1890 is a major support line and must hold for next week.
Centamin equally frustrated and contained.
A new world economic order?
How did the FED get gold so wrong?
Are the US being pressured into complying with Basel III NSFR standards?
https://tinyurl.com/2c26592f
Should have been chart not charge. Not sure how that happened.
The chart tells its own story. Gold has failed to breakthrough the 1 hour descending channel that has been running through August. Someone ha thrown a lot of sells on gold to keep this up. Any temporary breakout has not held. The direction remains down for gold until that down channel breaks.
Hi Sotolo,
I take your point on inflation, but that is only 20% maybe even less, so that said waste clearance costs have added likely 30%-40% to AISC, also whilst this additional waste clearance is ongoing it must impede or limit access to certain areas of the site which in turn impedes production flow and overall guidance output.
Tibbs
Spot at 1913 and could be going lower.
Mr T, I think this share is dependent on the real gold price, gold's much as it was 3 years ago but inflation has been 20%, therefore profit form gold even at a flat aisc is half, as is the share price very roughly, plus a little more for the reduced percentage of profit now paid out in dividend. So when gold rises in real terms I expect so shall we, and if it falls so shall we. We will be helped a bit by increasing ounces and falling real terms aisc, but we have been holding up lately surprisingly well on the expectation of these. So imho baring a great new discovery it is mostly the gold price we are gambling on here, now the ship is steadied.
Hi Dasut,
Thank you for providing this analysis , it seems to confirm thee isn't much hope of this share going anywhere much until at least mid 2024, that is assuming there aren't any unexpected occurrences as in the past!
Its all very well doing slick sales presentations ,but there could be a more frequent , possibly a real time link updating share holders as the as the waste clearance progresses , this may encourage more interest and move the share price!
The Egyptian gold mining industry is really going to be dependant upon Centamin for years to come!
A cofounder of Russian internet company Yandex has come out against his country's war in Ukraine.
Arkady Volozh, a billionaire who now resides in Israel, had refrained from public criticism.
Few Russians of such elite economic status have openly come out against the Ukraine War.
The billionaire co-founder of Russia's largest internet company, now living in exile, has broken a months long silence on the war in Ukraine and issued a statement forcefully condemning his home country's 2022 full-scale invasion.
https://tinyurl.com/yvwtv4sa
Arkady Volozh, the co-founder of one of Russia’s biggest tech companies, has launched a rare attack on Vladimir Putin’s ‘barbaric’ invasion of Ukraine.
Subscription only:
https://www.telegraph.co.uk/business/2023/08/10/russia-google-yandex-founder-attacks-putin-barbaric-war/
Major European stock markets were down in the premarket trade on Friday as the earnings season slowed down. A new batch of data is coming up, including reports on the United Kingdom's GDP growth for the second quarter, industrial production, and trade balance. Analysts predict the British economy will just barely avoid a recession, with little to no growth compared to the previous quarter.
The DAX lost 0.39% at 8:04 am CET, the FTSE 100 was down by 0.15%, the CAC 400 decreased by 0.28%, and the EU STOXX 50 dropped 0.49%.
The euro traded 0.10% higher compared to the dollar and went for 1.09911 at 8:05 am CET, while the pound traded 0.22% higher against the dollar, selling for 1.27058.
Baha Breaking News (BBN) / DJ
Happy Friday y’al
Enjoy your weekend!
When Putin came to power in 1999
$1 US = 24 Rubles
Today
$1 US = 94 Rubles
very unfortunate for the average Russian who doesn't have the wherewithal to stash savings abroad
the bank of russia claims the country's official inflation rate is 3.6% which would be an amazing feat no other country in the world has been able to achieve lately
unofficially the inflation rate in Russia is estimated to be around 60%
https://markets.businessinsider.com/news/currencies/russia-economy-inflation-60-percent-falling-ruble-steve-hanke-2023-7
Although if you follow true method the last 6 months total material moved is 65,301 less ore so waste 58,419 divided by ore 6,882 therefore ratio 8.5. Either way too high but as I say trend is better than it has been in recent times.
Tibbs In very basic terms well yes but wish it was that easy. However quarterly numbers provided gives you the total material moved and the total ore moved so pretty straight forward to calculate where we are at.
- We now expect Egypt’s annual gas production to decline in 2023, as ongoing water infiltration issues at the country’s mega Zohr field weighs on output.
- In turn, this will see the country’s LNG exports marginally decline this year.
- High depletion rates at the country’s existing fields, coupled with a thin project pipeline, paints a bearish outlook for the country’s long-term gas production.
https://www.fitchsolutions.com/oil-gas/declining-gas-production-egypt-underlines-need-further-discoveries-18-07-2023
Egypt's lack of funds to import fuel is only getting worse - a wake up call to Centamin contemplating connection to Egypt's power grid
------>>>
Madbouly said that the value of the additional shipments will be between $250m to $300m. He stressed that these numbers were not available in the current budget or estimate, and therefore, it is an additional burden that the country will be able to provide under the current circumstances.
Egypt’s Prime Minister also announced that the government will be working to reduce electricity consumption in public facilities, such as street lighting and government buildings.
Madbouly also directed the Minister of Youth and Sports to play matches before sunset to reduce electricity consumption in sports facilities and stadiums.
He added that it was agreed to operate air conditioning devices at 25 degrees Celsius or more to consume electricity in the smallest possible amount.
Moreover, Egypt’s Prime Minister stated that the country will need to implement load-shedding procedures for about one to two hours daily due to high temperatures.
Madbouly said that the load shedding will be implemented in a balanced manner across the country and that it will not affect hospitals or strategic facilities.
https://www.dailynewsegypt.com/2023/07/27/egypts-prime-minister-announces-measures-to-address-power-cuts/
Heyho- looks like not a lot will help gold today. You win some, you lose some- off to the golf course.
Have a good weekend all.
Strip ratio
The strip ratio is the amount of waste rock, or overburden, that must be removed in order to get to the mineralized rock (ore). The strip ratio is calculated by dividing the thickness of the overburden by ore thickness. Eg. if the overburden is 100m thick and the ore is 50m, the strip ratio is 2:1. The lower a strip ratio, the more profitable the mine will be, since less material needs to be moved.
https://www.mining.com/profit-low-grade-gold-mines/
More likely the moderate rise eg about 1dollar only since before data released at 13:30, to b the combination of all the data which analysts still digesting but I hope the general consensus remains on the disinflation path. At USA open will most likely show this, usual markers hopefully
Weekly job claims up much more than expected causing rise in Gold
Oh- I read is as per expectation with the a few nuances in the detail. Majority so far seem to be on the disinflation side, so good- but time will tell.