Gordon Stein, CFO of CleanTech Lithium, explains why CTL acquired the 23 Laguna Verde licenses. Watch the video here.
London South East prides itself on its community spirit, and in order to keep the chat section problem free, we ask all members to follow these simple rules. In these rules, we refer to ourselves as "we", "us", "our". The user of the website is referred to as "you" and "your".
By posting on our share chat boards you are agreeing to the following:
The IP address of all posts is recorded to aid in enforcing these conditions. As a user you agree to any information you have entered being stored in a database. You agree that we have the right to remove, edit, move or close any topic or board at any time should we see fit. You agree that we have the right to remove any post without notice. You agree that we have the right to suspend your account without notice.
Please note some users may not behave properly and may post content that is misleading, untrue or offensive.
It is not possible for us to fully monitor all content all of the time but where we have actually received notice of any content that is potentially misleading, untrue, offensive, unlawful, infringes third party rights or is potentially in breach of these terms and conditions, then we will review such content, decide whether to remove it from this website and act accordingly.
Premium Members are members that have a premium subscription with London South East. You can subscribe here.
London South East does not endorse such members, and posts should not be construed as advice and represent the opinions of the authors, not those of London South East Ltd, or its affiliates.
I am sure the East will help them out with the Dollar shortage, along with Wheat Shipments, The Arab States are gathering toghether ,
“The price of diesel was kept unchanged at 7.25 Egyptian pounds per litre.”
https://amp.france24.com/en/live-news/20230302-egypt-raises-fuel-prices-amid-spiraling-economic-crisis
Closed with a rise of 1.01% for the day to $1854.61 per Troy ounce.
Egypt has gained emergency liquidity for food supplies via two recent loans — one received in June 2022 from the World Bank and the other in January from the International Islamic Trade Finance Corporation, though an installment from the second loan is late to arrive.
Such is the liquidity shortage, that in a rush to distribute a series of around 18 wheat shipments arriving rapidly at ports over the first two months of the year, the government allowed the wheat into the country without completing customs formalities - the importer said that following due procedures would have entailed a major payout in dollars over a short span of time, so the government promised payment at a later date.
The government food supply agency also rushed through a shipment of imported vegetable oils in the absence of liquid cash to pay for them, said a source in the vegetable oil import sector speaking on condition of anonymity.
Private sector traders importing their goods are not able to secure the same exceptional releases. A private sector grain importer speaking on condition of anonymity said that the situation was moderately better in January, when the government made substantial dollar allocations to relieve port congestion and around 60 to 70 percent of shipments could get through. Now, they said, only around 30 to 40 percent of shipments are making it into the country, and the types of shipment depend on what’s deemed most important. Amid turmoil in the poultry rearing industry, fodder crops had priority over recent weeks, meaning that industrial goods and inputs remain stuck.
Prices continue to rise for consumers as a result. Finished food products, like pasta, are as much as 80 percent more expensive, a source working in the food industry told Mada Masr on condition of anonymity. “Wheat is 100% imported within the private sector, so flour and other derivatives all heavily rely on the dollar.” Dollar scarcity is also affecting their company’s ability to finance the maintenance and operation of machinery at full capacity, they added, foreshadowing more difficulties in future.
As a backlog builds up, so do importers’ liabilities. “Importers deposited pounds with the banks months ago in advance payment for the shipments, then waited for [the equivalent in] dollars to be provided by the banks” and transferred to suppliers.
But with liquidity slow to materialize in the banks, importers have had to top up their deposits, as the Egyptian pound has been devalued on three successive occasions over the past six months. They also have to front cash for additional fees in dollars and euros to the shipping companies that own containers and who are late to get their equipment back since the goods are still lingering in storage at ports. The fines compound weekly.
Traders from various sectors are losing their relationships with suppliers abroad as a result.
https://www.madamasr.com/en/2023/03/02/news/u/inflation-persists-as-dollar-scarcity-holds-up-i
Today, the Ministry of Petroleum and Mineral Resources announced an increase in the prices of petroleum products, following the meeting of the Automatic Pricing Committee for Petroleum Products, which is responsible for following up and implementing pricing mechanisms on a quarterly basis.
The price of diesel oil increased by 20%, to six thousand pounds per ton, while the committee fixed its price for the uses of electricity production and food industries
https://twitter.com/MadaMasr/status/1631323491596156929
TF Metals Report, Craig Hemke, to disclose why central banks are buying more gold than they have in 50 years.
https://www.youtube.com/watch?v=ocmYHl7iGvI&t=38s
Ooops - I got the date wrong, it's US NFP Data next Friday :-).
The Financial Conduct Authority has opened an enforcement investigation into the London Stock Exchange’s (LME) suspension of nickel trading in March 2022, following controversy over its handling of the events.
Nearly a year later, the UK's financial watchdog said today (3 March), that it will investigate some of the LME's "conduct and systems and controls in place" in the period between 1 January 2022 and the time of suspension on 8 March 2022.
https://www.investmentweek.co.uk/news/4076925/fca-enforcement-investigation-lme-nickel-trading-suspension
it's all about the data later-
Its Friday , so gold usually goes down. Usually it gets hammered when America comes on line and when we go off line in the afternoon.
Usually when gold is rising a bit, NOFEAR comes on and starts telling us where it is headed ------and gold falls.
So today Im hoping that he wont come on, America wont smack down gold and we get a nice little rise of ten dollars or so going into the weekend.
Oh---and a few Centamin director buys would still be nice. If any of you are reading, come on and get your hands in your pockets and give us a bit of a boost!
It won't be you who puts the mockers on it lol- it could be the non farm payroll data released today- fingers crossed it's a miss and the ensuing info surrounding it too- and good for gold.
Yes very encouraging as with the direction of Gold Prices.
I will say no more,dont want to put the mockers on it,.
1846 Dollars at the moment.
Welcome back MrBond three days offline per month should be statutory.
Did you see Bank of America commented on m&a in the gold sector plus that they liked the Cey recovery story.
Can’t hurt.
Thanks RazorsEdge.
Just back online after 3 days of nothing, thanks to a storm ,causing major problems here.
It felt like total isolation.
European stock indexes traded higher in the last premarket session of the week on Friday before the release of the latest batch of economic data. Reports on the private sector activity in the Euro Zone, the United Kingdom, and Germany will be published today, while the latter will also reveal its trade balance figures for January.
The DAX went up 0.32%, while the CAC 40 added 0.28% at 7:12 am CET. At the same time, the FTSE 100 climbed 0.31%, and Euro Stoxx 50 advanced 0.46%.
The euro traded 0.15% higher against the dollar at 7:38 am CET to sell for 1.06172, while the pound jumped 0.25% against the American currency to go for 1.19804 concurrently.
Baha Breaking News (BBN) / MX
Happy Friday y’al
Enjoy your weekend.
Speaker(s):
Duncan Hall, Centamin PLC, London, United Kingdom
https://www.linkedin.com/in/duncanjhall15/
PhD geologist with experience in regional mapping and greenfields exploration.
Currently overseeing all technical geological aspects – including planning, implementation, and strategic interpretation of results – of Centamin PLC's Eastern Desert Exploration (EDX) programmes after leading comprehensive prospectivity assessments conducted over the same area during 2021- early 2022.
Monday March 6th
10:24 AM – 10:48 AM
Modern methods in historically endowed terrains: Centamin’s approach to gold exploration in Egypt’s Eastern Desert
https://www.pdac.ca/convention/attendee-info/schedule-at-a-glance
-------------------------------------->>>>
Doesn't say who exactly is presenting on behalf of Centamin, perhaps the BMO Florida conference gang on an extending vacation - ski trip to Canada, anyone?
Major United States stock exchanges registered gains on Thursday as investors dissected the latest remarks by Federal Reserve officials. Atlanta Fed President Raphael Bostic revealed that the central bank could stop interest rate increases by late summer of 2023.
In addition, the positive sentiment seems to have been boosted by Salesforce's earnings report, with the company's shares skyrocketing 12.44% at 2:38 pm ET on the Dow Jones Industrial Average index.
The Dow Jones surged 0.96% or 315 points at 2:30 pm ET, while the Nasdaq 100 rose 0.74% at the same time, and the S&P 500 advanced by 0.59%. The euro traded 0.63% lower against the dollar at 2:31 pm ET, selling for 1.05975.
Baha Breaking News (BBN) / AY
Should bode well for tomorrow’s opening
excerpts from " The Momentum Investor March 2023 Newsletter " see link below
1) with a large element of its costs fixed in nature alongside the lower costs of employing labour in Africa has fed through to a significant increase in ebitda margins from 23.2% in H1 ‘19 to a forecast 29.9% in FY’22
2) Sukari has become its “flagship” project accounting for around a third group sales
3) There is potential for a large contract extension here too with Centamin planning a major 30% expansion of mining rates underground from 2025.
https://www.capdrill.com/media/news/TMI-March-23.pdf
------------------------------------->>>>
1) the profit margin Capital makes on the Sukari WC contract is almost criminal - Centamin shareholders are played for suckers
2) 33% of Capital's sales (and an even greater proportion of profit) comes from Sukari
3) Capital hopes to continue this lucrative scam beyond 2024
Bottom Line: retail shareholders have failed to hold Centamin to account over this wasteful third party contract - forfeiting cost control norms , overspending by a large margin ,simply to benefit Capital drilling - shameful
“We see a pick-up in gold M&A. We like CEY turnaround & growth story," they said.
*In the same sentence.
Ooops- his name is "Przemyslaw Radomski"
Not if you read Sotolo's "right" analyst - he predicted a massive whack for miners - this prediction made mod Feb 2023:
"On the above chart, I used the HUI Index as a proxy, as it’s been around for a long time, and I want to put the recent move lower into proper perspective.
Gold stocks moved lower in a manner that was almost exactly as fast as what we saw in 2008. The red dashed lines show this similarity, and the green dashed lines show the analogy to the 2013 decline.
Why would those situations be similar?
The technical patterns are similar to a considerable extent (practically the only sizable difference is the early 2022 rally that’s likely based on the Russian invasion), and we even got the same kind of sell signals from the RSI (upper part of the chart) and Stochastic (lower part of the chart) indicators.
The Fundamental Trigger
On the fundamental front, we now have a perfectly bearish situation in which real rates are high and rising, and most investors appear to be oblivious to this fact. But the wake-up call will arrive, and when it does, it will likely arrive violently. Remember how the markets reacted to a different fundamental event about 15 years ago? The markets plunged in the aftermath of the subprime crisis. This time, the fundamental trigger is different, but it’s likely to hit just as hard – if not harder.
This means that gold stocks could decline really profoundly in the following months.
"
Bank of America 'broadly positive' on miners, says buy Rio, 'likes' Centamin
(Sharecast News) - Analysts at Bank of America sounded a "still broadly positive" note on the outlook for European Metals and Mining equities.
However, in the case of copper miners, they believed that companies' share prices were already discounting the various positive trends for the sector, including the drought in Chile, Latam politics and the slow ramp-up of new mines.
Most share prices seemed to be pricing in a $9,500-10,000 per metric tonne price of copper.
Iron ore prices on the other hand appeared to offer "tactical upside" from about $130 per tonne at present to $150-160.
The reason for that were fairly low port inventories, low stockpiles at steel mills, seasonally strong demand for steel and production and "underwhelming" shipments out of Brazil.
Hence, their recommendation to 'buy' shares of Rio Tinto, which derived roughly 70% of its earnings before interest, taxes, depreciation and amortisation from iron ore.
They also recommended buying gold and uranium, saying that the former was "calling" on the $2,000/oz. level.
"Consider Crypto's "wobble" vs. gold 10,000 year "real asset" history. We see a pick-up in gold M&A. We like CEY turnaround & growth story," they said.
As for uranium, nuclear energy was a part of the solution to solving the twin challenges of decarbonisation and energy independence.
Lets hope our day comes too!
The FTSE 100-listed engineering group reported a 21 per cent increase in revenues at constant currency levels to nearly £2.5billion as total operating profit jumped 25 per cent to £395million.
Weir company has increased its final dividend by 57 per cent to 19.3p, making it 32.8p for the year!
https://investing.thisismoney.co.uk/quote/WEIR
Major European stock indexes traded lower in the premarket season on Thursday under the influence of yesterday's batch of economic data which showed negative results for the manufacturing sectors in the Eurozone and Germany, while the United Kingdom fared slightly better, but reported underwhelming mortgage approvals rates. Changes in consumer prices in the Eurozone in February and the unemployment rate will be published today, along with the accounts from the latest European Central Bank's monetary policy meeting.
The DAX traded 20% lower at 6:39 am CET, while London's FTSE 100 declined 0.11%. At the same time, CAC 40 lost 0.14%, and the Euro Stoxx 50 decreased by 0.14.
The euro lost 0.26% against the dollar at 7:24 and CET to sell for 1.06375, while the pound plunged 0.27% against the greenback to change hands for 1.19856 concurrently.
Baha Breaking News (BBN) / MX