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Thanks Dasut
My understanding on Doropo, is that the Metallurgy is fairly stright forward, the drill sampling is good, and the Geologists are happy withthe Geological understanding of the geometry of the mineralisation (I dont think this is rocket science), but it can cause concern for the geostats fraternity, who wallow in numbers, and the higher density the more relaxed they get, but this takes time, and money..so I hope these guys are sidelined a bit.
The area and zones of mineralisation are a logistics issue, but not one that has not been solved numerous times before, but you have ot get it right, best do this upfront! The reverse of this is there is a lot of gold over a large area, and this means there is a very reasonable chance we are dealing with a significantly larger mineral system than is on their books right now.
This is what I would be thinking about.
best
the Gnome
MAY 16th (this Wednesday)
BofA Global Metals,
Mining & Steel Conference
May 23rd (Tuesday week)
AGM
Cowichan I don't think we will hear anything earlier than June as putting together a PFS isn't like writing an individual report this will involve numerous people and entities editing and auditing before the final document which needs to be accurate.
This will be the document that will drive a decision to spend a considerable sum of money or heaven forbid walk away so a few more weeks for accuracy is OK as far as I am concerned.
Doropo is a little complicated not just the metallurgy and processes but also 9 zones over 7 km so where to place the process plant without incurring expensive mining/haulage costs. We know from Sukari that it is crucial that the mine has flexibility.
I think you are 100% right there.
Personally feel strong rise to SP isn't going to happen until Sukari get the waste contract done and dusted and back to a realistic 6:1 or below strip ratio. Coupled with a positive we are going mining at Doropo and the Court Case finds itself in file 13 known as the waste paper bin.
We aren't going to see anything coming out of the other Egyptian zones for a good few years, imo ABC will come or go long before any impact from the new Egyptian zones.
All of this will still need a strong GP as this will always be the major influence on profit.
Let’s explore two gold stocks and see how they are faring on Wednesday.
https://kalkinemedia.com/uk/stocks/gold/paf-cey-2-ftse-gold-stocks-to-keep-a-close-eye-on
Major European stock markets traded mostly higher on premarket of Thursday hours ahead of the key interest rate decision by the Bank of England. Before the opening, Deutsche Telekom AG, ING Groep, and RWE released their latest earnings reports.
The DAX gained 0.09% at 7:12 am CET, while the CAC 40 added 0.12%. At the same time, the FTSE 100 and the pan-European Euro Stoxx 50 were unchanged.
On the currency front, the euro and the British pound were flat against the dollar at 7:15 am CET, selling for $1.09778 and $ 1.26206.
Baha Breaking News (BBN) / JG
One morning early, before you’ve had time to eat your Kellogg’s corn flakes…
The pog won’t matter anymore
Wall Street leaders addressed the debt ceiling issue, urging Washington to resolve the crisis as soon as possible, adding that the consequences of a U.S. default or a prolonged negotiation would be "unquantifiable."
"The short-term impacts of a protracted negotiation are costly; the long-term implications of a default are unthinkable," current and former leaders of the Treasury Borrowing Advisory Committee said in a letter addressed to U.S. Treasury Secretary Janet Yellen. "The magnitude of adverse consequences from a prolonged negotiation, or a default, is unquantifiable."
https://www.kitco.com/news/2023-05-10/Wall-Street-tells-Washington-Consequences-of-U-S-default-or-prolonged-debt-debate-are-unquantifiable.html
Will gold prices go higher, lower or remain unchanged next week? Kitco readers will have until 9 a.m. ET, Friday to cast their vote.
In a new feature to the weekly survey, Kitco News is now asking retail investors their price target for the following week.
The results will be tabulated and released after noon (12 PM ET) along with the results from our market professional survey.
Readers can also send any comments to newsfeedback@kitco.com and they could be featured in the story. For proper attribution, please include your full name, location and indicate whether or not you would like your comments published in the article.
https://www.kitco.com/news/2023-05-10/Where-is-gold-headed-next-week-Vote-now.html
Sound like a kind of wishful think to get back on CEY on the cheep Tornadotony, rather than a proper POG analyses.
Since POG hit 1950 it has been making higher lows
https://tvc-invdn-com.investing.com/data/tvc_1bfd54c7f9aa9831bd1f59f6626779c4.png
Hence it has been forming a rising trendline as support, but before that we have 2008 horizontal short term support.
Noting is impossible but I see plenty of support much before 1950..
Gold :another leg higher?
Interesting for some.
The bottom of the current bull channel is $1960 per ounce for gold. We are well overdo for a retest at that level. Cey would probably be around 102-104p on a channel bottom. The question is whether gold holds or break lower in a new downtrend. Centamin is likely to front run whatever gold ends up doing.
Yes I missed the peak by a penny, but I was out shopping today and spent all the profits.
Paul, one decent result including return to ounces profits and dividends of yore would shoot us up but I can’t see that happening soon, ie till we get on top of costs plus we now have a management that has said it will pay lower dividends even with higher profits so they can sink more in new self agrandising holes in the ground in W Afica etc. So yes one great results would do it, but not coming soon. Have to rely on the gold price
Fingers crossed for gold staying around this price or going up----------and for being at the higher end of the guidance for Oz's mined.
We might actually get a decent divi then.
On a different note, how many good updates or results do you think it will take for the market to start liking Centamin again?
The price of gold rose over 1% on Wednesday after the United States Labor Statistics Bureau revealed that the inflation in the country slowed to 4.9% year over year, with the core inflation also cooling slightly. The latest digits could affect the Federal Reserve's thoughts on what the peak level of interest rates should be.
Gold advanced 1.25%, to go for $2,046.26 per ounce at 8:41 am ET. Silver increased 1.10%, selling at $25.88 per ounce at the same time. Platinum rose 1.49% to $1,125.02 per ounce at 8:42 am ET. Palladium traded 0.81% higher, to go for $1,583.64 per ounce concurrently.
Baha Breaking News (BBN) / AY
The peak was not in Tony, now at 112.40
If CPI move higher than expected, in theory USD move up and POG move down.
Recently though price reaction to macroeconomics have been quite unpredictable, likely due to future market tying to catch stops...
IMV with POG downside risks right now are overweighting upside...especially after recently failing to make new all time higher.
Have sold all my gold miners last week awaiting a re-entry and indeed, just bought HUM some 7% cheaper..
next trance after CPI depending on direction.
Cpi move up means gold will move up to?
So if CPI move gold going move up too I presume
Major stock indexes in Europe traded flat in the premarket on Wednesday, with the German Federal Statistic Office Destatis expected to release its final report on the country's consumer prices for April soon. Meanwhile, investors will also be keeping an eye on the inflation figures coming from the largest economy in the world, the United States.
In other news, Credit Agricole and E.ON both shared their quarterly earnings results.
The DAX, the CAC 40 and the Euro Stoxx 50 all hovered near the flatline at 7:32 am CET. At the same time, the FTSE 100 edged down 0.06%.
The euro was flat against the dollar at 7:08 am CET, selling for 1.09636. The pound traded 0.06% below the greenback and went for 1.26140 concurrently.
Baha Breaking News (BBN) / AY
Happy hump y’al
If you just hold cey for the rest of the year a 20% rise will ensue (I believe)
This article outlines the main reason negotiations have thus far failed to reach an agreement
"Some entities expressed their desire to have fixed tax rates, concerning that it would be increased later on."
Gee whiz, wonder why 'entities' would be concerned Egypt would change the terms once the companies spend billions to build a mine?
The entire piece can be read here:
https://www.egypttoday.com/Article/3/124215/Egypt-in-negotiations-with-gold-companies-to-finalize-terms-of
A very intresting look at the realility.
Love it or not , the real truth ?
Meaning the 2 concessions holding the Doropo resource are 'safe' until 06/08/2025 & 06/11/2024 respectfully.
Now the hard part - choosing whether to make an uneconomical project look like it jumps the board's ROCE hurdles.
possibilities
a) chop the capex spend into smaller bits $250 million now , $150 million add-on
b) keep drilling until more gold makes it economic
c) sell it
b & c may no longer be options as permit PR-334 must be converted into a working mine or simply relinquished back to the state next summer
https://portals.landfolio.com/CoteDIvoire/en/
Now that the permit renewal is confirmed perhaps there's no reason for Mr Horgan to wait until June to tell shareholders which option they've picked
$2034.99. + 67%