Stefan Bernstein explains how the EU/Greenland critical raw materials partnership benefits GreenRoc. Watch the full video here.
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DASUT
nothing needs to be discredited - Centamin has not provided the cost comparison of hiring a 3rd party vs doing the job themselves - no PFS , nothing - so why not ask them to provide those details at the AGM ?
when it was decided to switch from contractor to owner operator underground the happy coincidence was that such a move saved money - does that surprise anyone? Given the infrastructure Centamin has existing at Sukari it's obviously cheaper to do the job in-house for the simple reason the 3rd party needs to make a profit
in fact, the sweetheart deal Centamin made with Capital is full of free perks - which add to the ability of Capital to make an ever expanding profit at the expense of Centamin shareholders
why not ask these questions at this week's AGM :
1) who pays for the housing/feeding of Capital 'waste moving contract' employees living on site in Centamin's accommodations ?
without Centamin's existing facilities it would be difficult and much more expensive (if not impossible) for Capital to provide
2) who pays for the fuel services (storage tanks belong to Centamin) and fresh water supply that's used constantly to keep the dust controlled along route out of the pit ?
without this infrastructure and raw materials provided it would be cost prohibitive for a 3rd party contractor to operate
3) who provides the import and safe storage explosives ?
ditto
the list goes on and on - all this existing infrastructure use cost Centamin shareholders but since a PFS doesn't exist - shareholders cannot see the full picture
as far as Capital not making a profit ? it's not because of Centamin - try reading their actual financials :
https://www.capdrill.com/media/investors/Presentations/CAPD-2023-AGM-Presentation-May-0003.pdf
https://www.capdrill.com/media/home/Capital-Limited_Annual-Report_Final-signed.pdf
a summary
2021 dividend 3.6cps
2022 dividend 3.9cps
2021 revenue $ 227 million
2022 revenue $ 290 million
2023 revenue $ 320 to 340 million (guidance)
EBITDA 2021 $ 73.3 million
EBITDA 2022 $ 90.1 million
2023 EBITDA & dividend will follow guided revenues UP
the Sukari waste moving contract saved Capital from a dismal showing on their 'equity based' investments - where they take equity in a project in lieu of cash payment for work done where they lost money on paper - a write-off to profits - it's all in the Capital annual report page 25 above
Cowichan you keep criticizing what others say.
Tell us what you believe should have been done hopefully with some quantifiable numbers and facts so that we can understand your logic.
What information do you have that discredits the information that has been provided by Centamin and also what appears on Capital's web site?
The software of this website has shot to hell.
There are line spaces that weren’t put there.
Equities in Europe traded mixed in the premarket on Monday ahead of the newest updates on the Eurozone's consumer confidence and construction output. Meanwhile, Germany's Bundesbank will release its monthly economic assessment.
The DAX and the Eurostoxx 50 stood flat at 8:00 am CET. The FTSE 100 rose by 0.23% at 8:01 am CET. At the same time, the CAC 40 gained 0.30%.
Both the euro and the pound sterling stood flat against the dollar at 7:59 am CET, selling for $1.08115 and $1.24411, respectively.
Baha Breaking News (BBN) / JR
AGM in London tomorrow
Starts 10am in the Dukes Hotel,
35 St James's Place,
London SW1A 1NY.
Any possible feedback to this board???
It hardly matters, only entertainment.
Happy Monday y’al
It’s just a game and will never happen.
The US has kept its financial commitments since 1789 by paying its bills on time. Congress has prevented default 78 times. Of course they will sort it- it’s just a game.
Paul, a few phrases from your latest comments stand out :
i'm guessing
i suppose
i'm still hoping
and hopefully
that used to be me
the thing is Capital needed to hire the entire crew working the waste moving contract -
let's not perpetuate the lie that anything Capital is now doing would have been more difficult, more costly or more lengthy should Centamin have chosen to source the workers & equipment in-house rather than pay a 3rd party to do the same
and the thing is, if centamin were doing the waste removal themselves, then there would be less gold getting mined. their own trucks and workforce could not be in two places, doing two things at the same time.
i'm guessing that they should be getting on top of the waste removal now and that things should be starting to open up and give a bit more flexibility now? in another 6 months, i suppose things will be looking a lot better as they will be nearly 3 years into the 4 year contract.
also with the price of gold being higher recently, i'm still hoping that the dividends will start to go up a bit after this one. it will help to ease the pain of the last few years. i think the estimate was with gold being at $1850--------and hopefully we will stay at least $100 above that and maybe a bit more. i think prof an sotolo did the *** packet calculations and with the price being around where it is now, another 2p on the dividend should be possible, and encouraged as it would reward us lth a bit and restore some confidence in the share.
Yellen has expressed her concern that the financing of the IRS teams that are to collect $7 trillion dollars of tax fraud monies from elite wealthy American taxpayers and particular company organisations engaged in high level tax fraud is to be cut as a condition of the Republican party to agree any raising of the tax ceiling. It looks like the gloves are off. Republicans agreed previous baseline agreements for the tax ceiling are now all being withdrawn according to Biden. Confirmation should come through on Monday.
If things get ugly on the USA debt ceiling and it now looks as if that is the game in town, it is bad for everything including gold imop. Yellen confirmed the ability to pay debt arises first week of June and various Republicans say it is all a bluff. Yellen gave confirmatory sources confirming the position on air backing her statement.
All the best and I hope a lot of you folks have cash in the portfolio. It is my number 1 portfolio position.
UK water companies have been repeatedly discharging sewage into rivers and seas, causing extensive environmental damage and posing serious health risks. Despite receiving fines, these companies continue to breach their obligations with minimal impact on their profits, executive bonuses, or shareholder dividends. They simply add the cost of those fines to our bills and carry on.
Introducing a points-based licensing scheme would give the regulator, OFWAT, the power it needs to force water companies to live up to their environmental obligations and to force them out of business if they refuse to do so.
https://actionstorm.org/petitions/getagrip
They are currently developing this project in Egypt
El Sid, Egypt
The El Sid project is an active exploration project located approximately 80km east of Luxor and 170km northwest of Centamin's Sukari mine within the Arabian-Nubian Shield. The project covers a 600 km2 area across Egypt's largest former gold operation which focused on extracting high grade mineralization between 1940 and 1957 via underground mining methods with an estimated average feed grade of over 30 g/t. El Sid is under a legacy framework agreement with the Egyptian government similar to Sukari, and has not been explored with modern techniques previously.
Allied Gold has an experienced and established exploration team assigned to the project and has completed 15,894 meters of diamond drilling in 90 drill holes to date.
----------------------------------->>>>
Background Info:
The former principals of Yamana Gold Peter Marrone, Daniel Racine, Gerardo Fernandez, Sofia Tsakos and Jason LeBlanc, are joining Allied Gold's management team and, to align with Allied Gold shareholders, will purchase shares and become shareholders of Allied Gold.
https://stockhouse.com/news/press-releases/2023/04/27/africa-s-fastest-growing-gold-miner-attracts-highly-experienced-former-yamana
Note:
Allied already has 2 producing mines in Cote D'Ivoire
Simply the lennders package products they have sold , the investment banks buy them, then buy of the rating agencys grade them secure!! to sell them as secure loans. just look at the profits of the rating agencies who suffers the aveage jack. The rating agencys are criminal and rightly most pension fund iignore them example Moodys gave bearsterns tripple A rating the day before they went bost, investgated but no crinal charges .most of rating rating agecies guys go to work for the governent as they are excempt from bonus tax if they work for the goverment. Just another corrupt system. Only trust yourself or your good mates
Rehypothecation is the practice where banks, brokers, or individuals use collateral that they do not own to help finance assets. Previously pledged collateral is used as collateral for a new loan, creating a leveraging cycle that promotes profitability but increases default risk!
The BIS (Bank for International Settlements) is repositioning for a higher gold price!
https://www.youtube.com/watch?v=V6wd-GuRcz4&t=21s
(Kitco News) Even though gold is wrapping up the week down $30 — its worst performance since February — the Friday afternoon rebound keeps the bullish gold trend alive.
The gold market recovered after Federal Reserve Chair Jerome Powell said rates might not have to rise as much due to tighter credit conditions after the banking sector turmoil.
"The financial stability tools helped to calm conditions in the banking sector. Developments there, on the other hand, are contributing to tighter credit conditions and are likely to weigh on economic growth, hiring and inflation," Powell said at the Thomas Laubach Research Conference Friday. "So, as a result, our policy rate may not need to rise as much as it would have otherwise to achieve our goals. Of course, the extent of that is highly uncertain."
https://www.kitco.com/news/2023-05-19/Gold-price-could-easily-regain-2k-next-week-as-debt-ceiling-troubles-come-to-light-analysts.html
Hi Dasut,
Thank you for your excellent explanation based on personal professional experience, as always greatly appreciated!
Tibbs
The price of precious metals rallied on Friday as Federal Reserve Chair Jerome Powell delivered his remarks concerning the current economic trends in the country.
Powell stated that although the policymakers remain committed to bringing the inflation rate down to the targeted level, the central bank might not raise interest rates "as high" in light of recent shocks to the nation's banking sector. This seems to imply that the peak rate might be lower than initially anticipated and that policymakers may be leaning towards a less aggressive monetary approach going forward.
Gold added 0.91% to sell at $1,974.63 per ounce at 11:47 am ET. Silver surged 1.56% to go at $23.87 per ounce, while platinum added 1.31% to $1,070.01 per ounce. At the same time, palladium jumped 2.66%, selling at $1,507.36 per ounce.
Baha Breaking News (BBN) / AB
Tibbs yes but hopefully we are getting back on track and the pain will stop once the waste contract is completed. Although I would hope the mine is already benefitting from the waste that has already been moved with flexibility. The problem with the waste contract is it impacts on costs regardless of how it is accounted for. Every truck load costs approximately $260 for no return, whereas every truck load carrying ore contributes approximately 130 grammes of gold.
Hi Dasut,
Fair comments!
As you will have gathered like you I am still livid that we are where we are because of the failure by those who know better to carry on bad mining practice by digging ever deeper into a hole with no regard for the consequences!
Best way to play this stock- trade it.
Ive just bought back the ones I sold a few weeks ago at 107.9 for 104.9. I was hoping to get in at below 104 but it didn't fill this morning.
If the price jumps, I may try and sell them and hopefully get back in before the dividend but if not, I'm happy to hold for he dividend and beyond , hoping to finally get some golden flip flops. :-)
Major European equities traded in the green in premarket on Friday as traders set their sights on Hiroshima, where the Group of Seven (G7) Summit is about to begin. On the data front, German producer prices were revealed to mark 4.1% in April, while the European Central Bank is expected to release its Economic Bulletin in a couple of hours.
The DAX added 0.30% at 8:02 am CET, while the FTSE 100 went up 0.09% and the CAC 40 increased by 0.15%. The Eurostoxx 50 advanced by 0.43%.
The euro traded flat against the dollar at 08:04 am CET to sell for 1.07701. At the same time, the pound sterling lost 0.09% against the greenback to go for 1.23976.
Baha Breaking News (BBN) / MX
Happy Friday y’al
Enjoy your weekend
Another example why we are taken by fool from the Fed and its media circus, even if some commentator may be genuinely missing the point is the below article...
https://www.investing.com/news/commodities-news/gold-could-go-to-2200-dont-be-fooled-by-selloff-on-us-debt-deal--ubs-3085933
Now... recently the media has been feeding news that a no deal on US debit ceiling, would be beneficiary to POG and a disaster for U$D.
REALLY? How have we come to this?
Does it mean that more the USA increases its debit and better is for the U$D?
Anyone can understand how easy for the Fed to manipulate asset prices, with this economic dynamic in place.
Goldgnome
So many points in your post can be interpreted and elaborated further, that talking about economies and finance, could easily become a philosophical conversation.
For example when you mention "Central or Reserve Banks to be able to manage outcomes of the economy"
this concept can have many interpretation all to suite specific circumstance ore agenda of each central bank...
becoming many forces pulling in different directions..
Again on the subject or "zero interest rate" imo the best thing that happened to humanity after wine lol...
only problem is when central banks play with rates up or down, therefore not allowing the natural course of events and market forces, where too high inflation would automatically kill demand without the need to rise rates.....?!
The western financial system and the concept of interest rate is financial mafia. It has been set up to allow corruption, and control the masses, by creating huge private debit and slavery on debit repayment.
Of course the US doesn't have to repay the debit the have the U$D, and if that lose credibility they can always start a war, of a new pandemic, or something else...
For example what about assassinating Putin or XI, that would be a nice reset of the economies, when thigs start to get too overbought.....
No worries mate we are just passengers struggling to make a return on investments, when the one in the know have already booked handsome returns for generation to come..
And so of recent, it turn out that blue chips techs and growth stock was the place to be.
Unfortunately my hate for anything that is USA stopped me from buying NVIDIA at 120 just few moths ago.
Not easy to make money for those trying politically and morally correct...whatever that may mean.
Back on POG now that US inflation has come down from recent high, I see the Fed in a position of strength free to chose the course of rate rise. As long as no more banks go down....they will have all the time they what to dose rates up or down or pausing, and therefore directly and effectively control the economy, but more importantly control the market for the benefit of their paymasters.
If you thing the Fed has been put in place to the benefit of people and the US economy , please allow me to call you naïve.
The Fed only act directly for the people when there is a danger of riot in the street, that is if unemployment would be at 15/20% and maybe high inflation....we are not going to get there by a mile...
POG will be always slave of the Fed and the media circus, and possibly blue chip techs will keep growing to infinity.
NVIDIA now has a PE of 180 and is neat all time high.....unbelievable.
Remind me of a multi years cycle for growth stock started post 2009 credit crunch, but from a higher starting point.
Love and peace.
Should have said in trade with Russia, forgive me.
Unfortunately.
The FEDs utterances they know affect the market,a lot .
It is in order to cover their grave mistakes of the near past,the largest by far QE which helped push inflation higher.
Now they have to keep the $ high to protect the confidence in it, now under pressure by most countries in the east.
QE did not help but gov sanctions made it far worse for their world confidence.
Yuan overtook the Dollar for the first time in exchange transactions.
A hole the US has dug for itself .
Poor FED and gov decisisions .
The final outcome ,who knows.
Problem being everyone will likely suffer.
Basel 3 may also be helping to support POG.