The latest Investing Matters Podcast episode featuring Jeremy Skillington, CEO of Poolbeg Pharma has just been released. Listen here.
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I have said previously that I would like to see regular buys by the board. It should help steady the price and give a bit of confidence. I think the last time any of them dipped their hands in their pockets was a couple of years ago when the price was around 130? I also think the size of the buys was around 20 or 30k.
Sotolo it is nice that you have the money to buy another 30k shares and have the confidence to do so, but can I ask WHY? considering your man was predicting a fall in the price of gold a week or so ago?
Hi Razor's,
I am trying not to be cynical, really just "Tea money" to him, it would be great to see an RNS of a directors buy of least a 500K, that said I agree it's a least a show of some belief in the company strategy and a positive signal, rather than selling as Josef & Youssef did in the past,!
Actually 100k from Horgan and 50k from Jerard is far more than management have been investing for a long while and I would say a very positive sign, I have now bought 30k at an average of 101 over the last week and feel comfortable to have done so
Small change for a fat cat . Maybe Sunak /Hunt , Boris the clown could buy a few . Should be able to buy loads at our expense .
Sunak release news of tax paid when Boris is in the Dock .
Corruption or fantasy politics .
53,000 CEY shares
Russia would bomb any country that detains Vladimir Putin using the International Criminal Court arrest warrant, Russia's ex-president Dmitry Medvedev has warned.
The ICC last week called Putin a war criminal over his alleged role in abducting thousands of Ukrainian children, often from orphanages or care homes.
But Mr Medvedev cautioned that any attempt to execute that arrest warrant would be seen by Moscow as a "declaration of war".
https://uk.yahoo.com/news/ukraine-russia-war-latest-russia-075820596.html
While Moscow has publicly dismissed the Hague’s arrest order for Vladimir Putin as nothing more than a meaningless piece of paper, some government officials reportedly descended into a full-blown panic in private chats after the news broke—with some wondering if they’d become the next Heinrich Himmler and Joseph Goebbels.
https://uk.yahoo.com/news/private-chat-leaks-show-moscow-110938709.html
Russian society is expected to face a “significant challenge” in the coming weeks as thousands of convicts are likely to be released, according to U.K. intelligence.
According to the Ministry of Defense, there’s about to be an influx of “violent offenders” set free if they’ve fought for the paramilitary organization the Wagner Group.
https://uk.yahoo.com/news/russia-expected-free-violent-offenders-113000050.html
Russian & Chinese co-operation may not last!
https://uk.yahoo.com/news/witnesses-unravel-chinese-mass-murder-085649436.html
The next element in the play book is to generate a recession panic where everything goes down, charts gaps get back filled and then some made up data is published by some government department to be heavily revised later, and everything goes up again. I bet gold retreats after Easter from whatever high is put in and the next rally is mid to late summer.
Central African Republic remains one of the poorest countries in the world despite its vast mineral wealth of gold and diamonds among others. A myriad of rebel groups have operated with impunity across the embattled country over the past decade, thwarting mining exploration by foreign companies.
Gunmen Kill 9 Chinese at Mine in Central African Republic
March 19, 2023 5:24 PM
The assault on the Chimbolo gold mine began around 5 a.m. when the gunmen overpowered the site's guards and opened fire, said Abel Matipata, mayor of the nearby town of Bambari, located 25 kilometers (16 miles) away. The mining site's launch had taken place just days earlier, he added.
https://www.voanews.com/a/gunmen-kill-9-chinese-at-mine-in-central-african-republic-/7012194.html
Wagner’s growing influence in Africa is helping isolated Russian President Vladimir Putin project power and raise revenue overseas. Since 2018, the group—led by Yevgeny Prigozhin, a close ally of Mr. Putin—has signed security and military assistance contracts with the governments of the Central African Republi and Mali and a Libyan faction, and has secured lucrative mining concessions.
https://www.wsj.com/articles/russias-wagner-deepens-influence-in-africa-helping-putin-project-power-9438cfce
Last time gold went on a run & hit $2k Goldman said it was going to hit $2400 in the short term & gold then quickly got thumped back down. They are liars & charlatans who happily ramp the gold price to anyone who will listen while at the same time selling their holdings or shorting in to the demand.
I have been taking some profits on my gold recently, at A$2950 it was too tempting & I sold 40% of my ETF gold (my real physical never moves from its safety deposit box).
I will sell the balance of my ETF holdings if gold breaks A$3k & plan on re-stocking in the A$2450 - 2500 range.
I may come to regret my actions but I have seen gold go on these runs before only to drop as quickly as it climbed.
https://breakingthenews.net/Article/Goldman-Sachs-sees-gold-price-rising-to-dollar2050/59691710
https://www.bullionvault.com/gold-news/gold-2023-022820232
Gold technical forecast: XAU/USD weekly trade levels
Gold prices reverse sharply off confluent technical resistance
XAU/USD susceptible to pullback- constructive while within November uptrend
Gold resistance 1988, 2035, 2075 – support 1926, 1858 (key), 1807/12
https://www.forex.com/en-us/news-and-analysis/gold-price-forecast-xau-usd-bulls-go-for-2k/
What we see are a series of desicions which loads more debt onto the balance sheet of countries, and this just goes on and there are no bounds. And we see posturing for a war with Russia, and if thats not enough the USA war machine will take on China. RECAPPING: The U.S. has carried debt since its inception. Debts incurred during the American Revolutionary War amounted to over $75 million by January 1, 1791. Over the next 45 years, the debt continued to grow until 1835 when it notably shrank due to the sale of federally-owned lands and cuts to the federal budget. Shortly thereafter, an economic depression caused the debt to again grow into the millions. The debt grew over 4,000% through the course of the American Civil War (what a great war?) increasing from $65 million in 1860 to $1 billion in 1863 and around $2.7 billion shortly after the conclusion of the war in 1865. The debt grew steadily into the 20th century and was roughly $22 billion after the country financed its involvement in World War I (another war?).
Notable recent events triggering large spikes in the debt include the Afghanistan and Iraq Wars (wars again!), the 2008 Great Recession (engineered by gross greed and stupidity!), and the COVID-19 pandemic (mutliated by the governments and did their actions create more value destruction than normal?). From FY 2019 to FY 2021, spending increased by about 50%, largely due to the COVID-19 pandemic. Tax cuts, stimulus programs, increased government spending, and decreased tax revenue caused by widespread unemployment generally account for sharp rises in the national debt...
You can bet on the steady devaluation of the US$ and its fiat mates, as sure as the sun rises in the east.... The devaluation essentially means that a reliable true asset like gold (not talking about a utility, but gold has utility) will go up in us$ price, as it has.
There are clearly no bounds on the stupidity of elected govts (no qualifications needed), and the ridulously inadequate modelling of the economists who provide the "light"
good luck punters
the ever irreverant Gold Gnome, who is splashing in his pool
Cey 99.85-101.5p. May possibly back fill.
Gap in London gold charts to 1952 area in USD. Although in pounds it is probably far less as USD has fallen.
i missed the word “lower”! So re say what i meant to type is below:
What’s important is that, yes they may open lower than the absolute close of last night, but climbing off the from the lows of the futures markets just after Yellen (idiot) spoke… look at asia today for example- bodes well
What’s important is that, yes they may open than the absolute close of last night, but climbing off the close from the lows of the futures markets just after Yellen (idiot) spoke… look at asia today for example- bodes well
This Goldman Sachs article is like a Sentry opening the Barrier.
Major European stock indexes traded below the flatline in the premarket on Thursday, following the United States Federal Reserve's decision to increase interest rates by 25 basis points, as investors analyze the move and Fed Chair's Jerome Powell predictions about future hikes. The Bank of England is set to unveil its own monetary policy call today, while European Commission will release consumer confidence estimates in the afternoon.
The DAX went down 0.23% at 7:04 am CET, while the CAC 40 decreased by 0.44%. At the same time, London's FTSE 100 dropped by 0.37%, and Euro Stoxx 50 lost 0.39%.
The euro traded 0.50% above the dollar at 7:19 am CET to change hands for 1.09093, and the pound gained 0.47% against the American currency to sell at 1.23260.
Baha Breaking News (BBN) / MX
Goldman Sachs Group Inc. predicted the price of gold will reach $2,050 within the next 12 months as it remains a "haven" in uncertain circumstances. Commodities more broadly will rise by 28%, according to the bank's analysts.
Goldman does not forecast that the current banking crisis will spill over into the commodities market. Oil will be another commodity on the rise, with the demand in China increasing and reaching 16 million barrels per day, analysts predicted.
Baha Breaking News (BBN) / DJ
Nice overnight recovery from yesterday evenings US close on the markets and gold - long may it continue
Nearly all facilities like this incur a healthy commitment fee.
This is fair enough as even if the facility is undrawn the banks still have to treat it as if it is drawn when calculating their leveraging/capital adequacy ratios, etc. for compliance purposes - basically if they have committed to lend the money to CEY they can’t lend it to someone else no matter if CEY hasn’t drawn on it.
Nothing untoward at all in this but it would have been better if CEY had disclosed the level of these fees when they announced the establishment of the facility but failure to disclose details of bad news is really de rigueur for the current management :)
The government announced today, they have invested 30 million in producuing more gold coinage for the market, especially individuals.
Their mint cannot keep up with demand at the moment.
Why not cey offer divi payments in such,
Islamic faith , celebration .
Normally lot of gold bought, Its tradicional.
Now that should keep gold sp stable for a while.
Have you got physical .
Just in case.
;-)
I didn't until I read Endeavour's year end results.
Apparently, it's because of something called a Commitment Fee:
A fee paid by a borrower on the unused portion of its revolving credit loans or delayed-draw term loans to compensate the lenders for their commitment to make the funds available to the borrower for a certain period of time.
Currently Endeavour has a $575 million unsecured revolving credit facility (RCF)
see page 54 here: https://www.endeavourmining.com/sites/endeavour-mining-v2/files/2023-03/Q4%20FY22%20Results/Presentation/Endeavour%20Mining%20Q4%20and%20FY-22%20-%20Results%20Presentation.pdf
"The undrawn portion has a commitment fee of 35% of the applicable margin (0.84% based on currently applicable margin)"
Meaning it costs Endeavour a whopping $ 4,830,000 per year in 'commitment fees' just for the privilege of having the credit available if needed (i.e. with zero $ drawn from the bank )
As of March 2023 Centamin also has such a credit facility available - albeit for a mere $ 150 - 200 million.
I'm calling on MrTibbles to ask Centamin's Investor Relations how much its shareholders are footing in fees for the same pleasure - just curious.