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Some being released as per calendar.
And Wally speaks (oops I mean Waller(Guv FED)) on crypto- he was hawkish last week on inflation so I won't expect of any positive comment- reminder of what he said on inflation last week : https://www.forexlive.com/centralbank/federal-reserve-speakers-coming-up-waller-on-crypto-mester-logan-bowman-20230420/
Here you go Lucky- you posted it yesterday:
"LuckyLuciano
Posts: 2,395
Price: 105.80
No Opinion
RE: GPWed 13:10
Is likely coming 25bps rise plus ending of Indian Gold purchases season (to a lesser extent) will keep gold price under pressure for a while.
USD not making any meaningful move up right now, can be interpreted even more bearish for POG.
Again all eyes on next key economic data for directions, one thing is sure though (imo) USD destiny is downward."
lol
Steve I don't recall saying that....but is possible.
Maybe was at the time JPMorgan came out with results?
Then again the bottom line there was some 10% less retail deposits imv....
I mean after central banks came out with the idea to buy its own debit, anything is possible, even for USD and POG to follow each other direction.
I'd listen to you more Lucky if you didn't think a falling USD meant gold would also fall.
https://tvc-invdn-com.investing.com/data/tvc_a3f194dbdfe9a3125be6849db16d54d7.png
IMV wait and watch still best action.
QTR is good why sp not move
Also guys seriously, is it sensible to attempt to predict future price movements using data that is 5 hours old? Anyway I took a punt and sold out expecting Q1 AISC to be much higher than it is - so suspect I'm about to get my porridge burnt - the market's going to like these results cos they're fab.
Results day is always a bit odd Prof- seen days when it opens up, stays up and increases, does the reverse, and seesaws in between... the results look good, especially for q1 here.
Pleasantly surprised albeit a little disappointed with grades in the open pit but underground now pulling its weight even when still transitioning equipment.
Extremely pleased with the mention of the flexibility in the open pit with multiple areas opened up for mining, the pain from the waste contract easing a little but will be wonderful when the pain has gone completely.
Strip ratios reduced a tad but still too high.
Very grateful that the plant maintenance went without a hitch because this is a time when issues can occur, only takes something taking a few hours longer than expected to snowball and to seriously hurt production.
Overall as I say good first quarter and I like boring if targets are met and slightly exceeded.
Just managed to buy 10,000 more shares at just under 106 on opening. Did not expect that with both gold knocking back on 1999 and this morning's RNS. Would expect to see a reasonable move up today - we shall see!
Best wishes,
Prof
Agree with the analysis here- don't quite understand the the opex/capex swap bit, but good result, especially as this is normally a poor quarter which it is not.
Yes Prof "Boringly predictable" I am also quite happy with for now. Hopefully other things should start to line up and help bring AISC costs down and the price of gold will stay mainly stead, OR RISE!
I think the "boringly predictable" is helping with the market being a bit more confident with Centamin now. The way Horgan is I think if they had a really good quarter, he would carry most of the excess ounces mined forward to the next quarter until he is confident with the ounces they can mine each quarter. Ie a good quarter followed by a drop back to an average one would set alarm bells ringing again.
With this being Centamin, I would be pleasantly surprised if the market likes todays RNS unless gold rises a bit today as well.
Fingers crossed for "the demented cash machine" and no more roller coaster riding.
Sorry for the typo… The headline should have read
“Surges 18%”
The view is that the Cetral Banks ahve the best staff, and can dio now worng. The real world suggests a different view.
The governor and other Reserve Bank officials, have maintained the line that the 2020 pandemic was a moment of intense uncertainty and stress. The calculus was to risk doing too much rather than too little.
But most of the errors could have been avoided, and were made long after the terror of March 2020 had subsided.
The four policy responses were:
1. The RBA pledged to pin the three-year government bond rate to the cash rate. This yield curve control target effectively signalled to markets that low rates would be in place for three years;
2. The RBA pledged to keep interest rates on hold for three years;
3. The RBA extended $200 billion in cheap funding to commercial banks via the term funding facility; and,
4. The RBA embarked or an extensive bond-purchase program, also known as quantitative easing.
All seriously short of the money
the Gnome
A tale of two companies: Yes Prof, I expected a 10% hit to Hoc this morning, also reporting today, and a flat Centamin. I wonder how wrong I will be. I am pleased with Cey because results as expected, and the full year at these gold prices should be nice, hopefully we shall begin to rise a bit more now, on the other hand,Hocschild has cut its dividend to nothing with hardly any profit, it’s main mine permit will be resolved but with what they imply will be a nasty, profit hitting compromise. so Cey the jam is beginning to finally come today, Hochschild is very much tomorrow. Even Cey didn’t stop its dividend at its toughest moment.
Hi Tony,
I agree - boringly predictable seems to be Horgan's hallmark which I am quite happy with.
I liked : 'Q1 cash costs of US$937/oz produced and all-in sustaining costs ("AISC") of US$1,348/oz sold' as if they can do that with the Q1 lower production of just under 106k oz then is should fall when they deliver the higher production that will get us to 450-480koz for the year. Gold sold at an average of over 1900 for the quarter which means CEY are clearing over $550 an oz. For April so far I suspect the average price of gold is over $2000 so (big ifs coming here) if that holds for the rest of the year and AISC comes in at mid-point of guided range i.e. $1325 then CEY are clearing $675 per ounce. That would be taking us back to the days when Tibbs, if I remember correctly referred to Centamin as 'a demented cash machine spitting out the cash'.
Best wishes,
Prof
In line with expectations. No unpleasant surprises.
HIGHLIGHTS
Operational performance delivered in line with the mine plan
· The lost time injury frequency rate ("LTIFR") for the three months to 31 March 2023 ("Q1") was 0.31 per one million hours worked, reflecting one lost time injury. The total recordable injury frequency rate ("TRIFR") was 2.77 per one million hours worked
· Q1 gold production from the Sukari Gold Mine ("Sukari") was 105,875 ounces ("oz")
· Q1 revenue of US$205 million, an 18% increase from Q1 2022, generated from gold sales of 107,661 oz at an average realised gold price of US$1,902/oz sold
· Q1 cash costs of US$937/oz produced and all-in sustaining costs ("AISC") of US$1,348/oz sold
· Q1 capital expenditure of US$54 million including the final stages of the underground paste-fill plant construction ahead of commissioning in Q2, and
· Robust balance sheet with cash and liquid assets of US$155 million, as at 31 March 2023 and US$150 million undrawn revolving credit facility.
MARTIN HORGAN, CEO, commented: "These results reflect a good start to the year, with the Sukari team delivering another consistent performance in line with our operational plan, as well as making great progress on our key capital projects. Our mining operations continue to benefit from both increased flexibility in the open pit, as a result of the accelerated waste-mining strategy and operational productivity gains, as well as improved productivity and performance from the underground mine, following the transition to owner mining in 2022.
We reiterate our 2023 guidance and look forward to reporting later in the year on several additional projects which will deliver growth and underpin returns. These include connecting Sukari to the grid which will reduce carbon emissions and save costs, publishing an optimised Sukari life of mine plan, commencing drill testing on our Egyptian Eastern Desert blocks and completing the PFS at our advanced Doropo Project in Côte d'Ivoire."
:)
Major European indexes were flat to higher in Thursday's premarket trading as investors awaited the European Central Bank's (ECB) latest meeting accounts, as well as data reports on German producer prices and Eurozone's trade balance.
The FTSE 100 and the DAX were flat at 6:48 am CET. The CAC 40 gained 0.09% and the Euro Stoxx 50 rose 0.08% at the same time.
The euro was flat compared to the dollar, selling for 1.09578 at 6:56 am CET and the pound lost 0.10% against the greenback to go for 1.24271 at 6:57 am CET.
Baha Breaking News (BBN) / NP
Move over Rebess it’s my turn!
Fingers crossed for a good one y’al
USD is :suffering collapse: as Worlds Reserve curency.
Interesting as such a prediction so soon ,from a US source, Kitco.
Not bad for Gold and PMs.
Gold rose 20usd when you said peak was in, so peak was not in- anyone who bet on this is losing or has lost if their stop loss got hit(I hope you didn’t follow your own analysis). I will watch to see if gold gets to 2008 by midday (as you said morning tomorrow) and from midday I will see if it drops from there on…. You have not stayed at what point the drop will cease so I expect to see a continual drop… time will tell…
As for what’s ahead, the US will be entering a big election year in which 33 Senate seats, the presidency, and control of the House will be fought over by a number of populist candidates and will probably take place when there are poor economic conditions, so the fights will be vicious. That will be risky. Following rules and compromising, which is required to make democracies work, will be tested. Because populists are so committed to winning at all costs and are unwilling to compromise, more-intense-than-expected battles are more likely. Each one of these forces is a part of the system. For example, the debt ceiling increase will not go as smoothly as most people expect and will likely become a big election issue that will split the country because both sides will fight for victories and will be less willing to compromise. Also, in this election year, aggressiveness with China will intensify because most everyone is anti-China, so those running will want to outdo each other with their China-bashing. Continuing engagement between US and Taiwanese leaders will likely still happen, which, together with the Gallagher House Select Committee on the Chinese Communist Party hearings, will push the US-China conflict closer to the brink (or over the brink). In my upcoming post on China based on what I learned in my recent travels there, I will delve more deeply into these issues.
In summary,
1) the world is certainly changing and will certainly change dramatically and
2) how well this goes will depend on how well the changes are managed.
If the people who have their hands on the levers of power rise above their tendencies to focus on fighting to maximize their own benefits and instead focus on working together to do what is best for the whole and divide the pie well, the financial/economic, domestic political, and international geopolitical orders can change in peaceful ways to create a better world order for most people. Presumably we want that, so we should be strongly against war and in favor of bipartisan pursuit of what is best for most people. However, some will argue that that perspective is too idealistic and that we should be more realistic about what is likely and plan accordingly. I agree that history has shown that the pursuit of self-interest has proven to be a more powerful force than the pursuit of collective interests and that there is a good chance that movement to higher-level thinking and better outcomes is unlikely, so we also should be prepared for the worst. If we are prepared for the worst, we will be fine.
cheers
the gnome
What you’re now saying is that unless gold breaks 2008 it will be down- well of course that’s the most likely scenario because else for you to be wrong gold would have to be in a very narrow range of 1995 to 2008… pretty pointless