Gordon Stein, CFO of CleanTech Lithium, explains why CTL acquired the 23 Laguna Verde licenses. Watch the video here.
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Major European markets traded higher in Wednesday's premarket session as investors process earnings reports and news of Italy's adoption of a 40% tax on bank profits.
On the earnings front, E.ON said earlier that its sales in the second quarter of 2023 totaled €18.8 billion, falling by 19% year over year.
At 7:50 am CET, the DAX gained 0.66%, while the CAC 40 added 0.80%, and the FTSE 100 rose 0.48%. The pan-European Euro Stoxx 50 inched up 0.88%.
The euro and the British pound were up by 0.18% and by 0.11% against the dollar at 7:55 am CET, selling for $1.09762 and $1.27619 at the same time.
Baha Breaking News (BBN) / JG
Happy hump y’al
G’Best airport, off to London Town
Tibbs, your copy/paste negative PR machine is on repeat. Do you get paid per post?
The market makers traders and indeed many mining compares don't really care a jot about carbon reduction, although some increase in AISC is usually to be expected as a matter of course this share is well and truly hobbled and it aint going anywhere until the huge cost of waste clearance is very considerably reduced !
If Martin Horgan and the other directors don't have enough faith in their strategy to make some meaningful share purchases then why on earth believe in this share!
Upbeat presentation and brokers notes are pointless , it's reduced AISC, decent sustained production and some directors skin in the game that's need until then this share is in the 'Spittoon" of the The Chance Saloon!".
If usa cpi and surrounding data is lower than expected this thurs, gold and cey will rise (and the reverse of course is higher) Fed has simply followed and acted in the same info- the data leads, not the fed as the fed just follow the data and their lives are predicted. Sometimes, however, the fed commentary provides more nuance and this moves things when they speak, especially Powell
Inflation has pushed up the aisc. Inflation CPI is the key as the FED simply follow it and they stated as much
I thought we would get a rally this month as FED had no meeting. Clearly it has gone wrong on my prediction. At some point the reality has to square up in the market. I have enjoyed a good run in getting the trends right since last October. Hopefully Centamin will catch a decent rally again later in the year. It is undervalued at the current gold price imop. Gold companies are not getting any credit for coping with inflation with cost reductions and increased production and recovering mined out reserves. No credit for carbon reduction on the gold ounces delivered either.
I have noticed however that bonds today have got a lower bid on the USA Treasuries and yet gold has gone down.
Japanese USA Treasury holders are currently selling now that the Japanese central bank is allowing yen bond yields to rise which is pulling in the Japanese public to buy its bonds. China may also be dumping some USA Treasuries which suggest the bond yields may go higher. With QT on top it looks as if a mess is building up in the USA stock markets. Biden in the meantime needs more USA treasuries sold to deliver all his Inflation Act programmes. At the current time this looks bad for gold if USA Treasuries offer higher and higher attractive long term rates. However, this amplifies over valuation of USA equity markets that may well have a waterfall hard landing. The subsequent recessionary hit is likely to leave gold the cleanest shirt around ( take on Yellen comments) as all the others will be in shreds. Having gold in the core of investment therefore makes a lot of sense.
Interesting that insurance statistics reveal a lot of individuals were made ill by the Covid-19 vaccine programme in USA and this has led to both significant number of deaths in 2021 and 2022 along with significant numbers of disabilities and is contributing to numbers out of the workforce and unlikely to come back in USA. It is likely to be a factor in keeping inflation high in certain areas such as healthcare.
Exactly Razor's, I am puzzled that if Martin Horgan has such confidence in the present company strategy then why doesn't he purchase 3 million or so shares , this action alone would boost market convenience and the share price tremendously!
We have had over 3 years of really enthusiastic sales talk, but now its time to walk the walk and deliver!
Surely this is'nt too much for shareholders to ask?
Tibbs
The FT lists 290.17M shares held by various institutions declared in July 2023.
The following additional holders to the above are:
Statens Pension Fund 32.3M
Vanguard Total International 15M
Franklin Gold Fund 13.2M
Premier Miton 12.1M
Halifax UK Growth 11.1M
Ninety One GSF Global 11M
Ninety One GG Fund 8M
Man GLG income 8.7M
DFA UK 8.1M
Hartford International 8M
Global Value Fund 7.9M
Shroeder 7.3M
Ishare Core 7.1M
Nuveen 4.5M (3.34M declared purchase being in Q2)
The above is another 154M shares.
In addition ETF weightings have also increased for Centamin that involve many millions of shares outside of the list above.
Centamin has a huge diversification of holders. I have not included nominee accounts such as Hargreaves and Lansdowne and many others.
Hi Paul,
I feel your statement expressed very well the feeling of a number of us, a couple of years ago I actually suggested to Marin Horgan that the company could be getting a return of around 0.5% -1% on the company spend and at that time a return of 5%- 7% or so on some of its cash, (with increased rates more now} by linking up with Kinesis so the money banked would be bullion backed in the Swiss vault , the cash deposits would be available instantly and the bullion available within 24hrs .
He explained the people he had to deal with(I suspect investment funds and institutions} expected at least a 30% return?
Here we are two or so years on and the cash is less than half of what it once was and the company is now hedged, there is certainly no sign of any 30% return as far as I am aware?
Possibly this many help you to understand why I still have some doubts?
Best
Tibbs
I'm not defending anyone, but i would expect it would be very difficult by eye to spot an angle a few degrees either side of 45.
I share Mr T's and others frustration at what has gone on and we cannot change the past. It looks like Martin Horgan has decided to clear the waste and open up new areas.
IF things picked up for us/ we get a decent set of figures/ waste clearance coming to an end, then I suppose we would all say that Horgan did the right thing. However I think even with a good dividend, some of us would still have lurking suspicions because of what has gone on in the past. That is human nature.
I'd really like to to see things on track and a decent dividend. As I said the other week. If they have the money in the bank, they could get a better rate of interest than they are paying on the dividend, so it wouldn't be costing them anything.
I'm hoping that the dividend will increase a lot after this one----but that will mean about May next year. That is a long time to wait.
Who is scooping up the 200 million shares?
Thank you Mr Bond,
This confirms what I asked Kees Dekker explained to me around four years or so , he also explained about the importance of not allowing the pit wall to become too acute!
Kees seemed to think that some analysts wouldn't know what they were looking at anyway and relied upon what the management showed or told them!
So one must ask the question Is it really prudent to put any reliance upon the majority of number punching corporate analysts when considering whether to invest in a mining company!
Actually Steve I make it with 10% inflation and 4% divi taxed unless in ISA it is about a 7% real erosion of capital
A bit of positive news for everyone!
200, 000,000 shares snapped up by bargain hunters.
I meant SP not CEO lol
CEO flat in last 12months and approx 4% given back in divis, so past 12months is an approx 4% gain on this stock.
As I said, it's irrelevant who are the top shareholders UNLESS you value their views, when, of course it is. I would be happier with higher risk ones- you have to question their capability if they were holding during the wall issue.
Major stock equities in Europe were lower in the premarket hours on Tuesday ahead of the release of inflation data in Germany. Meanwhile, investors digested Bayer AG second-quarter financial results.
At 8:00 am CET, Frankfurt's DAX dipped 0.12% and London's FTSE 100 lost 0.46%.The Euro Stoxx 50 fell 0.16% and the CAC 40 was down by 0.30%.
The euro was flat against US dollar, selling at 1.109996 at 8:02 am CET. The pound traded 0.19% lower versus the greenback, going for 1.27592.
Baha Breaking News (BBN) / AB
The CEO always needs to put on a show. If he or she does not, then its time to go.
Very simple. Everyone is replaceable ...
the gnome
During the last 12 months. 200 million shares!
Many of these companies like Blackrock, abrdn, Schroders, Vanguard, etc had held for over ten years - through thick and thin - collectively owning 524,413,488 shares
So then, to collectively sell 200,000,000 Centamin shares in such a short period of time is THE strongest sell signal an investor will ever witness and the biggest indication CEO Horgan actions' have not won their confidence -
6 analysts have raised Centamin earnings forecasts in the last 30 days. (1 was raised a week ago). 4 analysts have raised earnings for 2024. The increases are 50% higher per share than in 2022. It appears only 1 analyst has earnings may be lower in 2024.
Centamin book value has declined 10% in the past six weeks. It now trades 1 times book value. It usually trades above 1.1 historically since 2019 although a low of 0.76 was reached in 2022. Not one analyst has given Centamin a sell rating at this current time when quite often one or more could be found.
The SP performance is now 43% lower than the mean of analyst forecasts and this has sharply widened over recent months. In the past, Centamin performance was either below analyst forecasts (10-15%) or actually as they predicted as was the case pre-2020. This of course may relate to what analysts may also think on future gold prices in the coming months.
Tony
Fair points. 👌
To me,I imagine Horgan is confident of achieving and is not interested in showing anyone he needs to put on a show .
It could be shown as a weakness trying to convince anyone. Playing to the audience of investors.
More importance the final result.
The final result will prove competance.
We’re on the way Tibbs. Anyhow, you must have made a nice bundle from trading here over the years. This Egyptian gold pit has been generous to me too.