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Major European stock indexes traded mixed premarket on Friday as investors awaited the latest batch of important economic data. Meanwhile, the focus also fell on the ongoing spat between Brussels and London. United Kingdom's Chief Negotiator of Task Force Europe David Frost claimed that Downing Street "remains committed to working hard" to reach a deal with the bloc despite introducing the agreement-breaking legislation.
The FTSE 100 was unchanged at 7:36 am CET. The DAX advanced 0.09% concurrently, while the CAC 40 fell 0.15%.
The euro increased 0.17% against the greenback to go for 1.18353 at 7:35 am CET, while the pound gained 0.15% to sell for 1.28249 dollars.
Breaking the News / MD
Happy Friday y’al May Centamin break it’s 52 wk high of 233.30 either today or in the coming week.
Billionaire Eric Sprott invests in silver11 Sep '20
First Majestic Announces CDN$78 Million Bought Deal Investment by Billionaire Eric Sprott Vancouver, BC, Canada - FIRST MAJESTIC SILVER CORP. (AG: NYSE; FR: TSX) (the "Company" or “First Majestic”) is pleased to announce that it has entered into an agreement with Cormark Securities Inc., as underwriter (the “Underwriter”) pursuant to which the Underwriter has agreed to purchase, on a bought deal basis, 5,000,000 common shares of First Majestic (the “Common Shares”) at a price of CDN$15.60 per Common Share for gross proceeds of CDN$78,000,000 (the “Offering”). The sole investor under the Offering will be Canadian billionaire businessman, Eric Sprott, through 2176423 Ontario Ltd., a corporation beneficially controlled by him. This investment will result in Mr. Sprott holding approximately 2.3% of First Majestic’s issued and outstanding common shares, post-closing. Mr. Sprott, commented, “We believe there has been a lack of appreciation for First Majestic’s equity in 2020 and we are happy to align ourselves with Keith who recognizes the mispricing of silver in the marketplace and has been a stalwart for silver.” Keith Neumeyer, President and CEO of First Majestic Silver, commented, “We are very pleased to welcome Mr. Sprott as a significant shareholder in First Majestic. As a fellow silver bull, Eric has been recognized as one of the most influential leaders within the silver investment community and this deal represents his largest treasury investment in a silver producer, let alone the entire silver space.” The Company expects to use the net proceeds of the Offering, together with the Company’s current cash resources, to develop and/or improve the Company's existing mines and to add to the Company's working capital. The Offering will be by way of a prospectus supplement (the “Prospectus Supplement”) under the Company’s existing Canadian short form base shelf prospectus (the “Base Shelf Prospectus”) dated November 5, 2018. The Prospectus Supplement will be filed in all of the provinces of Canada other than Québec and, together with the related Base Shelf Prospectus, will be available on SEDAR at www.sedar.com.
another “rigged sell-off" in the paper markets.11 Sep '20
Andrew Maguire explains how last Friday’s release of the nonfarm payroll data, enabled insiders to orchestrate yet another “rigged sell-off" in the paper markets. The precious metals expert breaks down the recent movement in the gold and silver markets and explains why insiders are extremely long gold and silver, ahead of an anticipated price reset. https://www.youtube.com/watch?v=kQ29CNDWY1k
Gold (and Centamin) look they have held recent support points and now maybe starting to turn upwards again. I wonder if the next target is £3 which would be approx. 50% rise from here? I don't think it is out of the question. Mar-19 to Mar-26 SP went from about 90p to 142p Apr-1 to Apr-27 SP went from about 117p to 173p Jun-8 to Aug-6 SP went from about 147p to 232p Sep-4 to ??? SP 198 to ???
£2 has held fairly well and each advance has added in the region of 50%. It seems a stretch but there is dividend reinvestment to come, potential news on Egypt concessions and West Africa developments (?) and Q3 results a few weeks away. Gold was above $1750 dollars all of July and above $1900 all of August.
Record Prices Spur Gold Bar Smuggling Out of China, Negative Real Rates 'Boost Silver' as UK Pound Sinks AgainWednesday, 9/09/2020 14:13GOLD BARS traded in London's wholesale bullion market fell and then rose back to $1935 per ounce Wednesday lunchtime, standing unchanged for the week so far as Western stock markets stemmed the steep plunge of the last 4 sessions. With the EuroStoxx 600 rallying 0.9%, the Nasdaq 100 index of US-listed tech stocks headed for a 1.5% rise at today's opening in New York, trimming its plunge of 1/10th from last Wednesday's new all-time high. Relative to gold – against which the index peaked at more than 15 ounces at the top of the DotCom Bubble in March 2000 – the Nasdaq has now gone sideways since the middle of 2018, despite rising by more than one-half in https://www.bullionvault.com/gold-news/gold-bars-090920202cash terms.
Europe higher premarket ahead of ECB rate decision10 Sep '20
Major equity markets in Europe were mostly higher on Thursday as investors awaited today's interest rate by the European Central Bank, as well as the results of a meeting of the representatives from the United Kingdom and the bloc. Meanwhile, French Finance Minister Bruno Le Maire accused Washinton of "making obstacles" to block an agreement on digital tax "though the technical work is done."
The FTSE 100 traded unchanged at 7:30 am CET, while the DAX grew 0.47% at the same time.
The euro gained 0.21% against the dollar at 7:30 am CET, selling for $1.18271. The pound was flat concurrently at $1.30018.
- Solid experience in the construction activity sites - International mega-projects experience - Open-pit mining experience and greenfield project and Solid experience in the construction - Experience in Africa, in West Africa will be an advantage - Experience in remote location - Successful experience in dealings with government agencies and local communities - Experience in outsourcing and management of contractors. Strong experience PMC/EPCM - Solid understanding of construction Haulage Road, Port, Plant and Mining operations
tonight, more than normal. The market a the moment is very unstable,but with US elections round the corner, Brexit chaos and uncertainty about vaccine ,hardly surprising ,I prefer tea leaves and tarot cards ,can't spell, wegee board .