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 and have access to Premium Chat. 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.
Gold tapping on the $1700 door again. I get a feeling that it's ready this time to break through and test $1800. CEY was trading at 130's with POG at $1590. Add in an extra $100oz and the price is down by 6p. Makes no sense at all but may be down to Van Eck selling a few more. All bodes well for a nice stron sharp upswing day assuming buyers outweigh likes of Van and co.
I'll be buying more tomorrow as this should be 170p+ based on POG around $1800 and 220p a share based on pog at $2000+
Centamin has effectively announced a £10m extra cost from shareholder funds, the market does not reward philanthropy.
I agree Prof.
We should make 130, should ,but best not try and hope to much, then it is a pleasant surprise.
Take care all.
It will no doubt be up 5 -6 % tomorrow!
Indeed it is. Gold now north of $1650 so lets hope we move up tomorrow. From the RNS it looks like Van Eck sold off some at the back end of last week. Could be the overhang of that hurting us. If so then once they have flushed through we should move up.
Sorry Prf,but tomorrow is another day.
I dont expect much action before the results,afraid to say.
Answer - NO
cey closed @ 124.
FTSE 250 up 5%
Gold up nearly 2%
... and here I am wondering whether we will manage to finish in the blue.
Centamin really is a law to itself!
No getting away from today been very dismal . I was hoping for so much more.
When this rise going to come
Hopefully we should now start rising faster, I saw the other miners moving up a few minutes ago. Comex futures now over USD1682 (they were last working on June delivery when they don't have enough to go around).
Sounds like a lack of Gold like toilet rolls in our local supermarket, ha,ha, you have to laugh!!
Check out the spike as the Fed Money printing...
From a very well informed contact of mine!
Martin Horgan, he was the top candidate in the end - Centamin is very lucky to have gotten him, and managed to get him on board so soon!
(He started officially today).
In line with what I said last week the Comex market is higher than prices in London as they cannot meet 37m of orders for June delivery when they only hold Usd2m for shipping. Prices will rise a lot further in my opinion. Strong buy Centamin who produce and who have not cut production due to virus.
Agree Dansul with your comments re the changing sentiment.
Also feel the donation from Centamin to be a pleasant gesture as they do not have a problem themselves with the Virus. In fact they could probably pay a little bit more for help with Security and scanning so that they can continue to mine and keep an advantage over most of the other world miners who have needed to cut production. This leave Centamin in a very sound stable and what's more safe position ready to continue and take on new projects. A very sensible move to offer support.
Thank you for the post and your comments towards me personally, I appreciate that you don't know me as well as some others on this board which is you may have come to the somewhat inaccurate conclusions about my long term investment strategy and my motives on several counts.
mrtibbles, its normal to hear a lot of negative comments when someone is in control or/and successful of their business.
I believe Egypt is one of the country that contained the spread of the virus since the beginning and took all the measures to avoid the disaster (they may face the break of the virus but unlikely as per the World Health Organization)
Dr. John Jabbour, representative of the World Health Organization, said that countries with a pandemic cannot hide, but what is happening is a lack of estimation of the number of infections.
John Jabbour added, during television statements, that the majority of injuries in Egypt, estimated at 85%, do not need any kind of medication to cure and self-heal, and this is among the positives that we discovered.
If Egypt is in Disaster, will it help others? Like US refuses to send any medical supply to help Canada while Egypt send To China and Italy and prepare to send also to Germany and Spain.
By traveling to China at the beak problem to see how things are working and learn what China as well to succeed that virus.
The Guardian never write any thing on Egypt side, they are always against every step Egyptian government do... They are supported by the terrorist Qatar & Brotherhood since the stupid 2011 Revolution.
and You mentioned "lets not forget about Law 32"..!!!! are you kidding me?
Sounds like you sold and can't buyback lower.... You don't need to mentioned all the negativity and show your bad faith while prices is fluctuates and you may get the price you looking for...
Gold rose over 1% on Monday supported by the escalating global economic crisis fueled by the coronavirus pandemic.
Over 70,000 people have died so far as a result of the virus, while nearly 1,300,000 cases have been reported worldwide.
Gold jumped 1.50% to $1,642.70 per ounce at 7:25 am ET. In euros, the yellow metal was climbed 1.50% to €1,519.83 per ounce. Meanwhile, silver was up 1.75% to $14.65. At the same time, platinum advanced 1.38% to $734.72 an ounce as palladium lost 0.58% to $2,162.41.
Breaking the News / JC
The reason some of the Oil drillers and producers is up relates to reports that the Rushlies and Saudis are talking but nothing is guaranteed with them. The best bet to make the most of the market is to buy a FtSE tracker if you want to rise with the whole market. I already hold some of the fast rising shares as am glad of the recovery. However the whole World realizes this is only a daily report of reduced casualties from Corona 19 and can change again at any time. I have found in the past never to rush in where shares prices have suddenly risen as like you are thinking others are too and they will sell, and so I am waiting for the dip before I move any cash across, but I am not sure about oil long term anyway as there is excess supply. You could always cover your options in all of your money is in here, by selling some and keeping some? Your call. Sometimes I have been known to take my profits only and stay invested and invest the profits for free into other shares to expand my portfolio. However it depends on your circumstances but if you need all of your money for income you might be in the wrong game? Unless you are an experienced fund manager? Good luck what ever way you chose. I see Centamin perhaps doubling in price over the next two years. The same for Hochschild.
Thing is the SP has largely followed the POG recently .
Not today though .
I think I'll take a couple of percent and look more closely at a quick in and out in oil
Its been a long,long time since anything made sense n the stock market !
What a disappointing morning that has been. I cannot believe we are hovering around the mark we are. Gold is bloody 1641 and our SP reduces. Does not make a blind bit of sense.
Quite so Prof,
The decent thing to do!
Also If it is classed as a charitable donation it may possibly be tax efficient.
Egypt’s southern city of Luxor on 12 March. Photograph: Khaled Desouki/AFP via Getty Images
Eygpt is likely grappling with a higher rate of coronavirus infections than official figures, according to research by Canadian disease specialists and increasing infection among tourists who departed in recent weeks.
At least 97 foreign nationals who visited Egypt since mid-February showed symptoms or tested positive for Covid-19 on return home, according to public health data and news reports. Most spent time on Nile cruises believed to be the source of the outbreak in the southern city of Luxor, a tourism hotspot.
Egyptian officials say that an additional 126 foreign nationals and Egyptians have tested positive for the coronavirus since mid-February. This includes a 60-year-old woman declared dead on Thursday in the Nile Delta city of Mansoura, 465 miles from Luxor.
CAIRO, April 4 (Xinhua) -- Egypt's Sawiris family announced in a statement on Saturday donating 100 million Egyptian pounds (about 6.3 million U.S. dollars) to back the country's efforts in combating the spread of COVID-19.
Sawiris Foundation for Social Development will allocate 40 million pounds to support the daily labors and most distressed families, and 60 million pounds to support the government's precautionary efforts against the novel coronavirus, said the statement.
It added that the foundation cooperates with the Egyptian ministries of health and social solidarity as well as some social organizations "to contribute to meeting the health and economic needs of the Egyptian people at such unprecedented times.
Am I right in thinking we still have no revised date for the full 2019 results? And what about Q1 numbers? I am assuming those will have been delayed although I don't recall seeing anything about it.
With gold at $1630+ and the share price struggling to break 1.30, and indeed already drifting again, I fear it will slowly fade again until we get some solid news as it seems the market is more interested in bombed out oilers right now.
My fear is that we are in the middle of a big bear rally and when the next leg down comes, it will take everything with it again.
The right thing to do from both a humanitarian and a business point of view. Why the former is obvious. Why the latter - well treat people well when they are down and they remember it when they are up.
Best Monday wishes to all,