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The political policies of can kicking down the road over the past two decades including George Osbournes years of "Austerity" and "Cameron" complacency over the "Brexit" consultation the stupidity of the BOE quantitive easing ( Printing devaluation) whilst the politicians desperately tried to fool the public by keeping interest rates far too low was then all compounded by Boris Johnson's premiership of lies and deception which has resulted in the dilemma that the politicians now face!
Our political leaders have really dug themselves into a hole far bigger then the one at Sukari because although they know the right thing to do is to raise interest rates they also realise if they want stay on the Westminster gravy train then the best way to win votes is to lower interest rates and carry on kicking the can down the road!
https://www.youtube.com/watch?v=aLycSA684ME
19 Jun 2023
David Cameron has admitted that not enough was done to confront the possibility of a pandemic caused by an asymptomatic disease similar to Covid-19.
He was giving evidence to the Covid inquiry and said that the focus when he was prime minister between 2010-2016 was on preparing for a flu-type pandemic.
He was also pressed on how far the cost-cutting austerity of his government could have contributed to the UK's high death rates.
Yep :-0. And the markets continue to remain strong- I recall soooo many analysts and "experts" in March 2023 lows "S&P will drop to 3,300", NASDAQ sub 10k and so on and so on....
$1919.
The secret behind generating value for mining shareholders is nicely summarized in this excerpt from the London Indaba earlier this week (where Barrick CEO & Centamin CEO rubbed shoulders)
"When M&A opportunities manifested themselves, they were grasped well beyond the operational assets into major additional asset building through brownfield operation around the assets acquired. The surrounding exploration potential was invariably assessed in cases where assets were acquired and measured against a proven discovery and development yardstick."
Questioned by Indaba chairperson Bernard Swanepoel on the number of people that make up Barrick’s exploration endeavours, as well as the company’s investment in exploration, Bristow responded that the New York- and Toronto-listed company employs about 400 exploration geologists and spends about $150-million a year on greenfield exploration.
“That excludes mineral resource management and reserve extensions of our current operations,”
https://www.miningweekly.com/article/junior-exploration-absolutely-critical-barricks-bristow-tells-london-indaba-2023-06-27
-------------------------------->>>>
Disclaimer: Personal Opinion To Follow
It seems to me Barrick has been using its assessment yardstick to gauge Sukari's potential for quite some time. The level of secrecy Mr Horgan has decided to employ when it comes to 'Top Secret' geophysical surveys, 'Top Secret' step-out drill results & 'Top Secret' already-known satellite deposit resources around Sukari leaves no doubt he's not working in the best interest of Centamin shareholders, rather 3rd party interests are in play.
You may be surprised to hear a critic like me say it , but Centamin's share price is far too low. The reason however, is not primarily a sagging gold price, h'ell it's still above $1900 - no, it's a lack of transparency and any sort of articulation to exploit what resources (and potential) that already exists.
Its ironic that inflation has ripped gold. However the yield curve inverting is a good sign of us. Markets are betting on CB's to lower interest rates over the next two years to fight recessions. If CB's can tackle inflation and stop with interest rates then gold will sky rocket!
This the company being paid shed loads to clear up Pardey's pile of crap!
Capital (LSE: CAPD), a leading mining services company, announces that Peter Stokes, CEO, today purchased 50,000 Ordinary Shares in the Company at a price of 99 pence per Ordinary Share. After settlement of the transaction, Mr Stokes will hold a total of 50,000 Ordinary Shares in the Company.
https://rb.gy/jv0cr
https://www.lse.co.uk/ShareChat.html?ShareTicker=CAPD&share=Capital
Yep for sure- and a second up day here.
Have a good weekend- World Superbikes from Donington, Ashes cricket and British Masters golf all on TV for the lazy lol
Just how close we came to a pivotal black swan event – that could have potentially triggered an irrevocable gold reevaluation – amid last week’s tensions in Russia.
https://tinyurl.com/4xfbb8zs
Fair comment Steve, it's just that it happens far faster and ever faster now!
I was saying that it was ever thus.
City comment: Global confidence in UK capital markets remains low !
There are mutterings about the 11 banks on the syndicate, which they say points to a lack of faith in the offering.
There were also concerns that much of the $800million being raised would be used to fund a $500 million dividend.!
https://rb.gy/yuiol
Unfortunately its not to just having having more access to data, its having equal access to the full and accurate facts or data at the same time that is sadly lacking.
For instance those on the inside have access to NFP a full two days before they are officially spewed out into the public domain!
In 2018 after yet another RNS warning of hitting unforeseen low grades at Sukari I asked Andrew Pardey on telephone call in if he had seen Kees Dekker's article of 2015 which warned of the failure to acknowledge and appropriately manage the impending and likely ongoing grade problems.
Pardey denied any knowledge of the article, this was a lie because Pardey attempted to get the 2015 article pulled !
So if investors and potential investors are being lied to by company directors as in this case how can they make rational decisions, they can't!
I don’t agree here Mr T. It was ever thus, years ago it was even “posher” with less access to key driving data, and immediate trading. Now we have lots more access to data, whether or not all are equal or milliseconds apart is open to conjecture. Only you can decide on the validity of the data too. The next news has always driven the SP, I don't believe in manipulation on CEY, you’d need a major player to buy buy buy, take a huge risk that lemmings will follow, then sell sell sell. In the computer driven trading world we live in you’d need to also be able to outsmart all the increasingly sophisticated algos, many of which are now ai based that you are not simply buying on no real news- else you’re the one left holding the loss.
The government and Bank of England’s public consultation on a digital pound ends today
Many have already emailed the Bank’s team but we need thousands more to drown out the big banks and lobbyists from private companies.
Because, at its heart, this consultation is asking a simple question…Do you think money should stay in public hands - what’s your answer,
lease note you can also complete the online survey in full here, or write and post a response to the Bank of England at this address: Digital Pound Consultation, CBDC Unit, Bank of England, Threadneedle Street, London, EC2R 8AH.
[1] https://positivemoney.org/2023/05/an-opportunity-to-stop-the-privatisation-of-money-with-a-digital-pound/
[2] https://www.bankofengland.co.uk/paper/2023/the-digital-pound-consultation-paper
https://rb.gy/oeczo
Hi Wally,
Fair comments on Centamin, no doubt about it Pardey and the other stinkers "Had our legs up!" whilst digging us into a deep pile of crap!
The new regime are slicker, hopefully not slyer, but give the impression of being more competent t too deliver results , lets just hope it's not more bullsh*t that is delivered instead!
I am suspicious of the relationship with FTI Consulting Ben Brewerton and "Investor Meet" is far too one sided to be of any real use in getting answers to questions the company deems to awkward!
Keep well Wally!
Good points Mr Bond!
Unfortunately in today's markets there is far too much emphasis on waiting for the next piece of news in the next few hours, even minutes which is then used for the very short term trading by manipulation up and down of the markets indices just to create unnecessary trading , the best way to achieve growth and stability is to invest for the long term, but of course those that run the markets don't want that!
Today's stock market is really just a "Posh" online gambling site, no different to any of the other poker, Bet Fred or bingo sites, just the stakes and the impact on everyone s lives for the better or worse is greatly amplified!
Major European stocks recorded slight gains ahead of Friday's session as investors focused on the latest batch of economic data from the Eurozone and the United Kingdom.
While the most recent information revealed the British economy escaped recession in the first quarter of 2023, markets prepared for new CPI data from France and the euro area due for release later today.
The DAX stood slightly positive at 8:12 am CET, while the FTSE 100 rose by 0.33%. The CAC 40 gained 0.19%, with the Euro Stoxx 50 advancing 0.25%.
Both the euro and the pound traded unchanged against the dollar at 8:13 am CET to sell for 1.08636 and 1.26185, respectively.
Baha Breaking News (BBN) / ND
Happy Friday y’al
Enjoy your weekend.
🤗
Lol thanks Razor! Let’s hope for a climb back here despite the headwinds- the markets decide when the PM’s have been whacked enough, in the absence of significant moving news.
Cryptocurrencies extend gains, Bitcoin Cash up 29%
Cryptocurrencies continued to rise on Friday after Fidelity Investments again sought formal approval for its Bitcoin exchange-traded fund (ETF).
Investor confidence was seemingly also boosted by better-than-expected economic data from the United States that showed that economic growth was not seriously affected by the restrictive monetary policy of the Federal Reserve.
Bitcoin increased by 0.73% to $30,668 and Ether rose by 0.84% to $1,867 at 5:24 am CET. Bitcoin Cash first soared by as much as 29% to a 14-month high of $326.42 before easing gains and then advancing 18.47% to $300.1 at 5:27 am CET.
Baha Breaking News (BBN) / MS
Sotolo
Yes H2 is from this Saturday and last November when the share price was 87p, the AISC target was 1450 per ounce so incorporated a lot of inflation and a lot of Capex spend and producing less ounces of gold from what is being produced this year. Centamin also introduced a lot of innovations that have helped reduce costs.
35m ago
Endeavour Mining Plc made a takeover approach to rival Kinross Gold Corp. in recent months that was rebuffed by the Canadian company, according to people familiar with the matter.
Endeavour, an acquisitive gold miner backed by Egyptian billionaire Naguib Sawiris, was considering a potential cash and stock deal for Kinross, the people said. It held talks with potential partners about teaming up on a bid, according to the people, who asked not to be identified because the information is private.
Discussions between Endeavour and Kinross didn’t proceed beyond the initial stage due to differences over valuation and other issues, the people said. Kinross shares have gained 16 per cent in Toronto trading this year. Both companies have market capitalizations of about US$5.9 billion.
the company has also backed away from deals in the past if it couldn’t reach a friendly agreement — it abandoned an attempt to buy Centamin Plc, which owns the Sukari mine in Egypt, after the company rebuffed its advances.
https://www.bnnbloomberg.ca/kinross-gold-is-said-to-reject-takeover-approach-from-endeavour-1.1939801
Tornado, doesn’t half 2 begin on Saturday? Or are you talking about last year? Also 87p might have been $1700 gold price before costs escalated?
Both shares and most miners just tracking the price of Gold.
Best ignoring short term trends, which the FED controls by their murmerings.
Look long term 3 months and more.
I did some trading today here. I tend to do this around data release times so you can guess when. It doesn’t always work but does more often than not. For miners, i used to go hgm and rrs both since sold, and have done fres but hate the stamp duty, and dabbled in hochs. These days only on cey. Will take a look at SHA though.
Steve
I am now on hold with my Centamin. I still have quite a lot of cash in the portfolio although some was not intended for Centamin but if I reallocate and go overweight on my plan than I can see how this goes. The pain I have seen on my Shanta is incredible as well. It is a good company on high grade resources in Kenya and two functional mines in tanzania of which one is brand new. Both Centamin and Shanta have significant production growth in H2. Both are now looking seriously undervalued. It is annoying see AI companies get 200 plus PE rate valuations when gold miners get under 8. Good luck with the trading and yes let us know when you have piled in again. Tony