Roundtable Discussion; The Future of Mineral Sands. Watch the video here.
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What do you think of it so far.
Answer ?
A strong vocal rubbish.
:-)
MAY 6 2023
Barrick Gold’s Mark Bristow is on the hunt for takeovers as rival Newmont tries to push through a mega-deal, forecasting a market rally in his company’s two key commodities.
The pugnacious chief executive of the world’s second-largest gold mining group expects gold and copper prices to rise, lifting mining stocks.
His comments mark a step up in the serial dealmaker’s M&A rhetoric after playing down the need to counter the world’s largest gold company Newmont’s $19.5bn all-share non-binding bid for Australia’s Newcrest.
He added that the group had the “luxury of picking and choosing M&A opportunities” after improving operations following its takeover of Randgold five years ago and a four-year effort to build a strong exploration team.
“Because of our broad footprint of exploration across all prospective tier-one gold and copper jurisdictions, we have our geologists on the front lines. We have a much better understanding of the M&A activity than most of our peers,” he said.
https://www.ft.com/content/db1911e9-ac77-4176-8afc-3c6e266ef027
------------------------------------>>>
There are less than a handful of tier one targets of which Sukari is among.
If Barrick takes the bait, hats off to Mr Horgan for the destruction of Centamin's share price while prepaying all of Mr Bristow's stripping expenses for the next half decade...
Also, hats off to Mr Horgan for keeping Centamin shareholders acquiesced with no exploratory drill results these last 3 quarters, no Doropo PFS and no production growth while sending AISC thru the roof... it takes a special sort of somebody to pull that off
I trade CEY to make money, I trade crypto to make money, it's as simple as that for me. I have no loyalty to these things, and work with whatever system them live in- it's that simple to me. I don't take an irrational position against assets, and trade what I think can make me money.
I like to live in a world of free choice, and markets, and things should not be just "got rid of" because you disagree with it- the markets and consumers, which we are all part of, decide and this is how it should be in a democracy.
Computing power will continue to increase exponentially as will the costs reduce compared to need and use.
Just like the amount of computing power in your smartphone compared the computers of a few years ago- exponentially greater power and less consumption.
H Steve, I referred to world mining operations in general, not just for gold , certainly cypto mining is the obvious first choice to get rid of- as the difficulty and complexity of Bitcoin mining has increased, the computing power required has also gone up!
Bitcoin mining consumes about 121 terawatt-hours of electricity each year, more than most countries, according to the Cambridge Bitcoin Electricity Consumption Index.
You’d need 9 years’ worth of the typical U.S. household’s electricity to mine just one bitcoin as of August 2021!
https://www.businessinsider.com/many-uses-of-gold-2012-9?r=US&IR=T
I wonder how many ordinary members of the public realise that According to the World Gold Council, a single mobile device contains up to 50 milligrams of gold. That’s a tiny amount but nearly 1 billion cell phones are produced each year. With a gold value of about 50 cents in each phone, that adds up to $500 million dollars in gold each year!
https://www.businessinsider.com/many-uses-of-gold-2012-9?r=US&IR=T#you-can-find-50-cents-worth-of-gold-in-every-cell-phone-5
Absolutely agree Steve, the sooner as much mining as possible can be stopped the better, but in reality this is unlikely and any attempt to bring this about would likely result in even more environmental damage from unregulated mining operations!
Not all mining is done by large companies deep below ground or with expensive machinery in large open pits. Worldwide, millions of people labour with primitive tools, picks, shovels, and pans to extract valuable natural resources from the Earth. This workforce of artisanal and small-scale miners is commonly itinerant, without much education or training. The idea that artisanal and small-scale mining (ASM) is actually not small is the theme of a recent commentary in The Lancet Respiratory Medicine (Burki, 2019). It cites commonly reported global estimates of 40 million people in 80 countries (IISD, 2017), as compared to the approximately 7 million people in “industrial mining.” An estimated 150 million people are dependent upon the ASM industry (IISD, 2017). Although ASM is inefficient, it contributes 20% to 25% of the world's annual production of gold, diamonds, tin, tantalum, and cobalt!
https://agupubs.onlinelibrary.wiley.com/doi/full/10.1029/2020GH000325
Our politicians obsession with growth, GDP and big corporates has society far too hooked on buying more consumer items rather then repairing and maintaining just about everything instead , this in turn over time would create a healthier society the world over!
Mr T- the first line of a google:
Is gold mining good for the environment?
Extracting gemstones and gold mining negatively affects the environment through destruction of the ecosystem, depletion of water quality, and loss of vegetation (Belayneh et al., 2021).
Gold mining is bad for the environment, however you try to justifying it and not necessary- just the need for shiny stuff.
To say GOLD MINING is necessary is untrue.
I repeat, to criticise BTC on environmental issue is pot calling the kettle black.
Hi Steve,
True I hold a mining stock but one that operates as responsibly as it can in regard to the the required environmental regulations and indeed is exceeding what is legally required with regarding employment terms and conditions.
I would be delighted if all world mining was unnecessary, but as we know that is impossible to achieve so the next bet thing is to replace artisanal mining with properly regulated operations.
Crypto mining is an non necessary and environmentally damage operation that should be stopped or regulated in some way to properly limit its environmental damage .
Here are a few interesting points on other issues
- to construct renewal energy infrastructure will take an enormous amount of energy. Where will this energy come from? Obviously until sufficient renewal energy becomes available this will have to be from fossil fuel sources and/or nuclear energy.
- Renewable energy infrastructure has a typical life of mine of 20 years. We can already calculate that as from 2050 we will produce twice as much waste per annum than currently we produce as plastic waste.
- The amount of mining required to produce one electrical car engine (average weight is 0.5 tonne) is 250 tonnes. This is produces almost all through burning fossil fuels. You then have an engine that needs to be charged with electricity. From what is this produced? Either fossil fuel, or renewables constructed from fossil fuel.
- The metal produced for renewables will have to be mined in areas where there is currently no mining. This will also affect the environment in a major way, not to speak of all the child labour involved in producing cobalt.
The efficiency of energy generation from fossil fuels (amount of energy obtained / amount of energy required to generate energy) is a much lower than fossil fuel (5 versus 15) and a fraction compared to nuclear energy (100). It means that renewables may well not give a sustainable economic society, alternatively will lead to much higher energy prices.
The current high fuel prices (which preceded the war) are due to pressure groups forcing oil companies to cut back on exploration and development, but at the same time requiring massive amounts of energy to build renewables.
There is very little potential further improvement for renewables: solar theoretical maximum efficiency turning foton energy into electricity is 33% versus 26% currently and for wind that is 60% versus 45% currently. Therefore there will not be any great leaps for gains here!
Just wondering does gold mining stocks acts like gold during the recession (go up).
Come on Mr T- playing an environmental card when you hold a physical mining stock... the words, complete and hypocrisy... and greenhouses, glass and stones spring to mind...
Nope- I just provide an alternate view to the "bashers" for balance, I comment on CRYPTO (not just BTC which is one, albeit the highest market cap).
Power consumption is and will continue to be addressed whereas damaging the planet by digging huge holes for shiny stuff won't- nutty argument point.
Steve,
You seem to be taking up "Bitcoin" , but then this all part of how this system functions, research suggests that the environmental damage caused by BTC is far in excess to what most people are aware of.
Bitcoin mining is disastrous for the environment – it is time for governments to intervene
Until the Bitcoin community uses green mining parts, there is no future for the cryptocurrency due to the harm it causes to our planet
https://www.independent.co.uk/climate-change/opinion/bitcoin-mining-environment-climate-change-b1822426.html
Bitcoin is less “digital gold” and more “digital beef”, according to a study that suggests the cryptocurrency has a climate impact greater than that of gold mining and on the level of natural gas extraction or rearing cattle for meat.
https://www.theguardian.com/technology/2022/sep/29/bitcoin-climate-impact-gold-mining-environmental-damage-cryptocurrency
For those who you who are not "King Canutes".... the second link provide an interesting, high risk asset class that sits between crypto and PM's like CEY...
https://www.reuters.com/technology/lse-teams-with-digital-trading-platform-offer-bitcoin-futures-options-2023-04-13/
https://investingnews.com/daily/tech-investing/blockchain-investing/cryptocurrency-mining-stocks/
https://primexbt.com/for-traders/bitcoin-price-prediction-forecast/
I still cant believe some people see Crypto as an asset...
Where is the value in crypto if it hardly ever be monetised, beside some NFT which function could be achieved even without crypto...
Crypto (the cryptic one) is a technology, I am talking about bitcoin end the like. Great technology to validate transactions, but in reality Central bank hate it otherwise they would not be called central....
Bitcoin’s high value is determined by a number of factors.
The cryptocurrency was the first to solve the Byzantine Generals’ problem, bringing trust to a decentralized system. As the system is decentralized and is governed by code, its fixed and predictable monetary policy cannot be changed unless there’s consensus to do so.
Bitcoin uses open-source code and is built on top of a transparent network, making it possible for anyone to independently verify its security, its activity, and the balances of specific accounts on the blockchain.
Miners use tremendous amounts of energy to support Bitcoin’s encrypted network, forcing potential attackers to require impossible amounts of energy to do anything to it. The network’s uptime since inception is above 99.987%, making it more reliable than traditional payment networks.
Moreover, anyone can create a Bitcoin wallet and start using the network, making it open to anyone in the world regardless of their financial conditions. Bitcoin is an unencodable network that allows for fast peer-to-peer transactions throughout the world at low transaction fees.
While no single entity controls Bitcoin, everyone can participate in the project by creating new businesses around it, helping develop it, mining it, running a node to help secure and relay transactions, documenting its history, using BTC, or simply talking about it!
Bitcoin is the world’s most traded cryptocurrency, and represents the largest piece of the crypto market pie. It was the first digital coin and as such, remains the most famous and widely-adopted cryptocurrency in the world. It's the original gangster in whose footsteps all other coins follow. The birth of Bitcoin was the genesis of an entirely new asset class, and a huge step away from traditional, centrally controlled money. Today, many advocates believe Bitcoin will facilitate the next stage for the global financial system, although this — of course — remains to be seen.
https://www.tradingview.com/symbols/BTCUSD/Bitcoin is on the decline this week.
The price of Bitcoin has fallen by 8.96% in the past 7 days. The price declined by 3.92% in the last 24 hours. In just the past hour, the price grew by 0.27%. The current price is £20,981.98 per BTC. Bitcoin is 61.77% below the all time high of £54,882.63.https://www.coinbase.com/price/bitcoin
Just to say Warren Buffet has never paid a cent dividend on Berkshire Hathaway stock as he always felt he could create more value for the shareholder by investing it.
As long as shareholder value is created at CEY then I don't mind if the dividend is zero. Sotolo I don't see Doropo as self-aggrandising but a serious project that I hope is going to create the kind of SP growth we're all after?
Usual lazy article from Kitco, who'd believe they are pro gold lol, and to think they get paid for this type of thing :-).
He'll do anything to try to dissaude those people who think crypto is digital gold which, of course, it isn't. For an asset (BTC in particular), that is up 48% in the past 6months, and down about 3% calling it a "tumble" is bizarre...
Major European stocks posted gains ahead of the last session of the week as investors awaited the newest inflation readings from France and Spain, as well as first-quarter GDP data from the United Kingdom. On the earnings front, Societe Generale and Allianz released their first-quarter results earlier today.
The FTSE 100 and the DAX added 0.30% each at 7:39 am CET. The CAC 40 rose by 0.34%, with the Euro Stoxx 50 increasing by 0.20% at the same time.
Both the euro and the pound made slight gains against the dollar at 7:44 am CET to sell for 1.09280 and 1.25231, respectively.
Baha Breaking News (BBN) / ND
Happy Friday y’al
Enjoy your weekend!
Fair comments Sotolo!
Hi Dasut and Mr Gnome
Thank you again for offering us all the benefit of your personal professionally based experience and insight in the mining industry which also corresponds and confirms many the already expressed thoughts of Kees Dekker, certainly on the issues of turning Sukari around.
Martin Horgan has always been of the opinion from the start of his tenure that creating increased "working flexibility" was a key factor in achieving ongoing deliverable guidance at Sukari!
Cryptocurrency prices continued to face downward pressure on Thursday despite the latest CPI data showing inflation is cooling. The main culprits affecting asset prices across all markets include the ongoing banking crisis, which is now focused on the regional bank PacWest, and the threat of a U.S. default on its debt.
https://www.kitco.com/news/2023-05-11/Bitcoin-and-altcoins-tumble-as-U-S-debt-and-banking-woes-intensify.html
Yes Mr it could be that if the USD weakens too much, they may find it difficult to borrow and indeed the rethoric from the Fed going forward could sound like thretening to rise rate, but actually never do it.
Gnome I thoroughly agree Doropo reminds me so much of the early days of Newmont's Akyem resource in Ghana. Prior to start up and from memory the resource was known as a string of pearls approximately a dozen areas over about 20 km or more.
Initial talk was so similar to Doropo but I am told they are now extracting about 400,000 ounces per annum, however Newmont are known for playing cards close to their chest. The initial fleet was similar to the initial fleet for Sukari, based around 150 ton trucks Cat 785 size class.
I am sure Centamin will initially go contractor mining to work their way into the resource and feel this will mean the truck of choice for contractors in West Africa being the 100 ton Cat 777 size class, which is OK given the tonnage that is likely to be involved over the first 5 years production.
I don't like long hauls particularly in developing countries that can suffer from heavy rains on laterite roads especially the night shift where sleeping is extremely difficult during the day for machine operators in the tropical heat. Also conveyor systems can be expensive to maintain.
Agreed all doable but we both agree getting it right at the start is all important and cutting corners and rushing to produce such an important document is asking for trouble.
Best