We spoke to new Sterling Energy CEO Tony Hawkins about the latest changes happening at the company. Watch the full video here.
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Quite so Daniel, all part of the manipulation in supposedly regulated markets!
This is why it is so difficult for the little people to make a profit!
1 pence down again at the end ( large percentage down in last 5 mins???, very suspicious every day)
Why does CEY drop at the end of almost every day.
What a lovely thought Cowichan. It'll be a red-letter day if you're right. - It could provide the rocket-fuel that we need.
Cairo Egypt June 16, 2020
Ali Abdel-Aal, Speaker of the House of Representatives, called for attention to the file of mineral extraction, especially gold in the southern valley of the desert, and said that this resource could be a huge resource to support the state budget in a hard currency with regard to gold.
"the interior of the land in the desert of southern Egypt is storing a lot of minerals, and there are companies that have made many investments that have not been decided on the requests of this company until now,"
but unfortunately this file is managed by government standards, "a lethal and deadly routine", indicating that there is a well-known profession called "Dhuhabbah", a person who extracts gold from this region with very primitive tools, yet they find large quantities.
My Thoughts: Centamin is going to announce they reached a mutually beneficial deal to expand production under the new mining terms... the government of Egypt is desperate for revenue - oil & gas prospects are down in the dumps - a cash generating project needs to be fast tracked and Centamin are the only ones in a position to make it happen
Is it too early to make a stab at a final dividend forecast? I need to invest my ill gotten gains from the Covid testing stocks I think need to depart my portfolio, as the virus, I optimistically suspect, will soon depart our lives. I'm pretty heavily invested here but with the gold price holding at these levels, barring some catastrophe, we must be on for a mega year.
Jun. 17, 2020 5:59 AM ET|By: Yoel Minkoff, SA News Editor
The Fed's moves to backstop credit markets, combined with a rebound in U.S. retail sales and prospects for COVID-19 treatment dexamethasone, appear to have put a floor under equities (for now) as futures rose another 0.4% in overnight trading.
It follows several days of turbulence fueled by a cascade of news about fresh coronavirus infections and its impact on the global economy.
In his semi-annual monetary policy report, Fed Chair Jay Powell told lawmakers on Tuesday that the path to recovery remained uncertain, and he'll testify for a second day today before the House Financial Services Committee.
Just as Centamin produces the real-stuff, for the goldies amongst you, the majority I should think, you might find this interesting.
Trump administration puts pressure on Australia & other countries
On Wednesday at 3 pm CET, the UN will hold an unprecedented debate on systemic racism and police violence. They could order the set up of an independent commission of inquiry investigating police brutality in the US. But, we need to pressure our governments to demand US accountability at this meeting!
Insiders say the Trump Administration is exerting massive pressure on countries to take the spotlight off the US. Australia and European countries have capitulated to a watered down resolution, and other countries are also coming under intense pressure.
Of Course There Are Protests. The State Is Failing Black People. (New York Times)
George Floyd killing: sister says officers should face murder charge as protests grow (The Guardian)
The Fed had very little choice. The language will of course be polite, the hieroglyphics will increase, the value (buying power) of fiat has and will continue to go down (don't believe the stats just have a look at the prices of the things you need and you buy...do your own research!
Not only have they got little choice, they have even got less of a clue as to what to do. They need to simulate employment, minimize underemployment (endemic), increase discretionary spends in the populace..etc and how are they going to do this?
Mr Powell said the Fed's move to buy corporate bonds, which fulfilled a pledge first telegraphed on March 23, was "out of an excess of caution" rather than a desire to distort normal market signals. So what? distort the markets they have and will do. Not much choice here.
Although the Fed's corporate bond buying sent Wall Street off on another rally that raised benchmark equity indices about 2 per cent on Tuesday, critics argue such tools distort normal "price signals" that markets provide – such as warnings of future inflation – and may be difficult to reverse. Equity market is frothy, over stimulated, and we are doing more of the same...flight to quality, flight to gold
European markets were mostly flat in premarket trading amid disputes between South Korea and North Korea. Pyongyang is reportedly determined to go on with "all kinds of military exercises" near its border with South Korea. Meanwhile, investors will be monitoring data to come. The United Kingdom will be releasing its producer prices index core output data as well as the report on the country’s consumer price index.
The DAX dropped 0.17% at 8:00 am CET. At the same time, the FTSE 100 and CAC 40 were flat.
The euro grew 0.12% against the dollar at 8:00 am CET, buying 1.12771, while the pound was down 0.08% compared to the greenback to go for 1.25638.
Breaking the News / TF
Happy hump y’al...
Why has CEY share price fallen today?
Barrick Announces Partial Monetization of Investment in Shandong Gold and Continuing Strong Partnership
Barrick today announced that it has sold 79,268,800 shares of Shandong Gold at a price of HK$20.50 per share for gross proceeds of approximately US$210 million. Barrick purchased the shares in the fourth quarter of 2018 at a cost basis of HK$10.50 per share.
Jun. 16, 2020 5:32 AM ET|By: Yoel Minkoff, SA News EditorA big turnaround on Wall Street was seen Monday as the S&P 500 erased a 2.5% drop following word that the Fed would begin buying individual corporate bonds under its Secondary Market Corporate Credit Facility.Futures are adding to the gains this morning amid reports that the Trump administration is preparing a $1T infrastructure proposal, as well as an executive order on police reform. Dow +1.7%; S&P 500 and Nasdaq +1.2%.What else is happening? Fed Chair Jay Powell heads to Capitol Hill for his semi-annual economic testimony before Congress, and the latest retail sales figures will provide a key look at U.S. consumer spending activity.
I agree 100% with all of that!
Prof good morning to you and all.
When you look at the professional commentators contradicting each other day after day over the economy.
The truth is clear ,no one really knows what is coming next.
What is clear is in stocks,quality counts, even if the markets crash again ,the good quality will maintain a far better price,especially CEY.
Centamin will have its day
Gold is up, dollar down ...all bullish for gold, and centamin decides to go the other way.
Noticed SPGP of all things (home of the gold shorting yankees) rallied into the end so gold back up - market up - maybe a rally today
Shares on major European stock exchanges surged in premarket trading on Tuesday. On Wall Street, stocks moved higher as well supported by the Federal Reserve's announcement it would begin buying individual corporate bonds.
Investors continued to monitor coronavirus-related developments as Beijing was on high alert over what appears to be a second outbreak connected to the city's food markets.
The DAX rallied 390 points at 7:30 am CET, while the FTSE 100 jumped 2.55%. At the same time, the euro advanced 0.17% against the dollar, buying 1.14346, while the pound gained 0.59% versus the greenback to go for 1.26810.
Breaking the News / JC
Gold prices for UK investors also declined 1.0% on Monday, retreating to £1366 per ounce as Prime Minister Boris Johnson got set to join a video-conference with European Union leaders in a bid to make headway in negotiations on a future EU-UK relationship.
Silver prices declined further than gold, down by 1.8% to $17.17 per ounce after making 0.5% gains last week.
That pushed the Gold/Silver Ratio – which tracks the two formerly monetary metals' relative prices – back up towards 100, the highest in three weeks and an all-time record high when touched for 1 day in 1990.
The Gold/Silver Ratio reached 123 as the first global wave of the Coronavirus pandemic hit Europe and the US in mid-March.
Platinum prices meantime held flat above $810 per ounce on Monday as crude oil sank over 2.3% and shares in London-listed giant BP (LON: BP) lost 4.5% on news it will write down the value of its business by as much as $17.5 billion because the pandemic will prove a long-term hit to energy demand worldwide.
Monday, 6/15/2020 14:58
GOLD PRICES dropped Monday in London as European stock markets and crude oil tumbled amid widening reports that a second wave of the deadly novel coronavirus pandemic is taking hold, writes Atsuko Whitehouse at BullionVault.
Gold bullion prices for London settlement fell 1.1% to $1711 per ounce as the US Dollar rallied on the FX market, curbing the precious metal's earlier 2.6% gain from last week – its biggest jump in 10.
The Dollar Index – a measure of the US currency's value versus its major peers – climbed 0.5% Monday morning from its multi-month lows and gave some back by lunch time.
Major government bond prices rose, pushing interest rates lower, as European stocks lost 0.6% on the Stoxx Europe 600 index, paring an earlier drop of as much as 2.6%.
Japan's benchmark Nikkei 225 closed 3.5% down for the day and South Korea's Kospi lost 4.5%, more than twice the drop in Hong Kong's Hang Seng while the Shanghai Composite declined 1.0% despite China imposing strict new lockdowns across capital city Beijing after a jump in new cases of Covid19.
The United States saw more than 25,000 new cases reported on Saturday led by states as far apart as Alabama and California, with a record number of new virus-related hospitalizations.
"Stocks are overbought and are very over-valued, so another stock market sell-off is possible which could help to propel gold higher. However, if market liquidity dries up, as happened in March, then gold, as a liquid asset, could be sold off again," said consultancy SFA, writing a note for German refining group Heraeus.
"There is short term weakness in gold but that is going to set it up for a buying opportunity," reckons technical analyst Robin Griffiths at investment management and advisory firm the ECU Group in London, forecasting an economic depression ahead.
"For the long-term gold is very strong. Next serious overhead resistance is the old all-time high of $1900. Once its breaks that gold's going to go a lot higher."
China's official data today said industrial output expanded 4.4% in May from a year earlier but missed analyst forecasts as retail sales across the world's 2nd largest economy dropped at a slower pace of 2.8% compared to 7.5% in April.
Gold prices on the Shanghai Gold Exchange today continued to show a discount to London, with the gap increasing to nearly $15 on Monday after showing its smallest weekly average in 12 at $8 per ounce.
Euro gold prices dropped 1.0% to €1521 per ounce as Germany and Belgium fully reopened their borders alongside EU state Croatia and neighboring Switzerland, while France announced a number of coronavirus restrictions are being lifted.
Regional governments in Spain, however, are not allowing free internal movement despite 70% of the badly-hit country now seeing 'phase 3' de-escalation by Madrid.
Thanks Mr Gnome, confirms what campaigners have been stating for decades that RioTinto are not to be trusted, they treat the environment, the indigenous people and locals with complete disregard , although Rio are very slick in their PR and gloss over the true facts and when it suits their purpose Rio Tinto is also quite happy to work with corrupt regimes and governments.
Quite so Mr Bond, you are most probably hitting a few nails on the head with that assumption, great opportunity for business to lower the manufacturing costs of some of the staple and especially budget /own brand name food products to the masses.
From my own past local government experience I have witnessed just how appallingly poor the quality of the actual base ingredients of some of the so called beef burgers and pies are, especially some of the unbranded beef burgers sausages etc that are purchased by the plastic sack of several hundred for just several pounds which are then heated up in mobile catering units then stuck between two half's of a supposedly real bread bun with a few shavings of onion and sold to the punters for £4 plus, all cash sales, no receipts etc, nice little earners!
The food hygiene inspectors I knew always advised against eating kebabs due to the dubious make up of the so called lamb/beef roll that revolves over several days alternating from hot to cold in front of a heating element .
One manufacturing facility inspector said it was enlightening to say the least to witness a huge vat of some foul smelling steaming mush of reconstituted ingredients being transformed by pressure injection and machine rolling into kebabs and other various varieties tinned luncheon meats!
Trump certainly doesn't care what goes on in the US food industry https://www.theguardian.com/us-news/2020/apr/28/trump-executive-order-meat-processing-plants-coronavirus
Remember this former Tory minister who risked feeding his own daughter meat from infected cows
Might this be why those pikies/ravellers keep so many horses tethered on public land https://www.independent.co.uk/life-style/food-and-drink/news/burgers-scandal-meat-found-to-contain-80-horsemeat-found-in-latest-sample-8480867.html
The other part of my post relates to an analysis (there are a few) which suggest companies which manage ESG best return the best for shareholders. Has implications to the Mining Industry.
A $38b investor says ESG bets outperformed in selloff
The chief investment officer of a $US26 billion ($38 billion) fund in Helsinki says the market crisis triggered by COVID-19 has revealed just how resilient ESG assets are.
Securities that meet environmental, social and governance standards have proved a better bet so far this year than those that don't, according to Hanna Hiidenpalo, chief investment officer at Elo Mutual Pension Insurance Company.
Hanna Hiidenpalo: "The world is changing." Elo Mutual Pension Insurance Co
"During the crisis, we discovered that the business models of responsible companies are often based on a more solid foundation, which is also reflected in better valuations," she said.
Elo doesn't break out ESG-specific returns. But Hiidenpalo said that "companies with high ESG-ratings have produced better returns", particularly in the US. They've also seen their earnings estimates "lowered less than on average", she said.
Overall, the near-term investment horizon remains largely unchanged, with low interest rates here to stay. That means "there are very few opportunities to earn an investment return outside corporate risk", Hiidenpalo said.
Given performances like BHP, Vale, RIO there will be more competition for the investment dollar.
Mining Companies with strong ESG performance (as opposed to rhetoric) will attract more investment dollar in the future. I expect the reverse will be true.