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Thank you very much Goldnome.
An exceptional articñe
Five productive men and a banker are on an otherwise deserted island ....He has provided $1000 of mney at 8% ....
Oliver's (the Bnaker) money circulated on the island. Made simpler by money, trade doubled. Everyone is happy and the banker is greeted with respect and gratitude.
Nevertheless, Tom, the prospector, looks worried. His products are still underground. He has only a few dollars left. How can he reimburse the banker his soon to be expired loan?
After wrestling with his own problem, Tom decided to look at it from the standpoint of the whole community.
âCan the population of the island taken as a wholeâ he mused, âmeet its obligations? Oliver issued a total of $1000. He's asking $1080 in return. But even if we were to bring him every dollar bill on the island, we would still be $80 short. Nobody issued the extra $80. We turn out products, not dollar bills. Oliver can therefore take over the entire island, since we, together as a group, cannot pay back both money and interests.
If those who can afford to pay back do so, without care for the others, some will fail right away and some will survive. But their turn will come and the banker will seize everything. Better to unite now and settle this matter as a group.
Tom had no problem convincing the others that they had been taken in by Oliver. A meeting with Oliver was decided upon.
10. The benevolent banker
Oliver guessed what was on their minds, but he put on his best front. Frank, impulsive as ever, stated their case:
"How can we bring back to you $1080 when there is only $1000 on the entire island?â
âThat's because of the interest, my friends. Did your production not increase?"
âYes, but the money hasn't. And it is money you're asking for, not our products. You are the only one who can make money. But you made only $1000, and yet you ask $1080. This is not possible!â
âNow listen, my friends. For the greater good of the community, bankers always adapt themselves to the conditions of the times. I will require that you pay only the interest, only $80. You will hold on to the capital.â
âAre you going to cancel the $200 each one of us owes you?â
âOh no! I'm sorry, but a banker never cancels a debt. You still owe me all the money you borrowed. But, each year, you will redeem only the interest. I won't pressure you into paying back the capital. Maybe some of you won't be able to repay even the interest because of the money changing hands among you. But you can organize yourselves into a nation and set up a system of contributions called taxes. Those who have more money will pay higher taxes. The others will pay less. As long as you bring me, collectively, the total amount owed as interests, I shall be satisfied and your nation will thrive.â
The five of them left, somewhat pacified, but still thoughtful.
There is more, easy reading...should be in every course
https://www.michaeljournal.org/articles/social-credit/item/the-money-myth-exploded
Interesting Cowichan
I know of 3 CEO's of Juniors, departed or about to, down in the southern colony. In the Junior space, the CEO's are at best overpaid salespeople. Their job is to hike the SP, grab the bonus, and bolt for the door at the nearest opportunity, preferably soon after discovery. Its what the industry does not like to talk about, but it causes enormous losses for investors, and credibility for the industry. There was an infamous case of a company in the Congo, had bucket loads of copper in a great discovery, shallow, great grade, whatever could go wrong. Well they just conveniently forgot to see how much of the copper one could get out of the rock. Answer when it was far too late, was not much.
[We see now the gold industry worshipping Crysos technology, which needs a nuclear power station to run it, but lets not worry about that detail. The marvelous technology measures the total amount of gold...not what is extractable....and so on we go, just change the names and the commodity, but ...]
Lets have a look at the roll call of honour for write downs nd impairments of varius flavours..Q: How many CEOS lost their jobs at the top end for these ...?
2013 Canadaâs Barrick Gold (NYSE:ABX) which took a $8.7 billion hit this week â bringing its year-to-date total impairments to $13 billion. The largest chunk is related to the Chilean Pascua Lama project, which is responsible for $5.1 billion in impairments.
Again in 2013 announced a $5 to $6 billion write-down. Newcrest Mining (TSX:NM) reassured shareholders that it had wide-ranging spending cuts in mind, including a near 50% reduction in exploration expenses
AngloGold Ashanti (NYSE:AU) $2.6 billion. The company has had serious labour issues in South Africa over the past year with unions demanding major wage increases.
Kinross (NYSE:KGC). The company booked a $2.29 billion non-cash write-down
GoldCorp (NYSE:GG) logged a $1.96 billion charge . The write-down is related to the âvalue of exploration potentialâ (LOL) at the companyâs Peñasquito mine in Mexico.
Newmont Mining (NYSE:NEM) which took a $1.8 billion impairment charge related to two Australian mines in Boddington and Tanami, and that was in one year ...
https://www.businessnews.com.au/article/Westgold-Ramelius-flag-write-downs
McKinsey listed significant impairments totaling $129 billion in 2011 -2019
https://www.mckinsey.com/industries/metals-and-mining/our-insights/can-the-gold-industry-return-to-the-golden-age
CEY has not been perfect ( esp pre-this CEO) but it has not been in the league of those above, and hopefully will never be.
CEY IS RUNNING VERY WELL NOW, IN WHAT IS A DIFFICULT COUNTRY TO WORK IN.
Enjoy your weekend ...
best
the Gnome
If it can break through 110, 120 will soon be hit.
Up 25% since my first buy in May. Appears to have good momentum.
Extract from a financial newspaper: -
"The 10 analysts offering 12 month price targets for Centamin PLC have a median target of 126.32, with a high estimate of 165.13 and a low estimate of 93.30. The median estimate represents a 19.17% increase from the last price of 106.00."
Even with metals down
Major European stocks stood slightly in the green territory ahead of the last session of the week, with investors waiting for more signals about the size of the European Central Bank's rate hike next month.
At this moment, indications go toward a smaller, 50 basis point rate increase pending the November inflation data that will be out next week. A batch of economic data from Germany will be on today's agenda.
London's FTSE 100 and the French CAC 40 traded unchanged at 7:33 am CET, while Frankfurt's DAX gained 0.10%.
The euro stood flat against the dollar at 7:41 am CET to hover above $1.04, while the pound slipped 0.10% but remained just over the $1.21 level.
Baha Breaking News (BBN) / ND
Happy Friday yâal
Enjoy your weekend.
Over the past few months, the company had managed to mostly get the mine back on track, and in September, New Goldâs management, including Mr. Adams, hosted Bay Street analysts at Rainy River to show progress made since the flood. There was no hint then that a management change was imminent.
Anita Soni, analyst at CIBC World Markets Inc., said in a note to clients on Wednesday that given the companyâs flood problems at Rainy River appeared to be mostly in the rear-view mirror, the replacement of Mr. Adams at this juncture is a surprise.
New Gold joins several large Canadian miners, including Agnico Eagle Mines Ltd., Nutrien Ltd. and Centerra Gold Inc., that have parted ways with their CEOs this year, but not explained what happened.
https://www.theglobeandmail.com/business/article-mining-new-gold-ceo-adams-godin/
---------------------------------->>>>
IDK why so many board's feel no obligation to explain their actions to shareholders - and considering it's their sole decision to hire these CEOs - they should. CEO scapegoats - yet alive and kicking sent off to another company, seemingly absolved of responsibility one and all. I reckon it's partly the fault of ETFs and index funds making shareholding an armchair sport for most players - even the large investment firms, who are often indifferent themselves.
Berenberg Bank set a target price of 123 GBX for the company, which when compared to the Centamin PLC share price of 106 GBX at opening today (24/11/2022) indicates a potential upside of 13.8%.
https://www.***************************/centamin-plc-13.8-potential-upside-indicated-by-berenberg-bank/4121091668
Had this in the past and it has drifted back over next hour or so despite no real change in gold or U.K. exchanges - this time seems to have held. USA closed today due to thanksgiving-
Timing about 13:00 and no US data out, and this would normally be release af 13:30ukntimenin any case
Just spiked up !
Major European stock indices fluctuated above the flatline in premarket trading on Thursday after the Federal Reserve announced ahead of its next policy meeting in December that it would likely slow the pace of its interest rate increases into the following year.
Investors will turn their focus to European Central Bank's monetary policy meeting accounts for better insight into the region's economic developments, with central bank officials expected to deliver their speeches today. On the data front, Institute for Economic Research will publish its report on German's business climate in the coming hours.
Frankfurt's DAX improved by 0.07% at 8:00 am CET. The CAC 40 grew by 0.14%, while London's FTSE was flat.
The euro rose 0.26% against the greenback, to sell at $1.04305 at 7:57 am CET. The pound sterling was up 0.16% versus the American currency, to change hands to $1.20842 a minute later.
Baha Breaking News (BBN) / AB
Gold plus .3%
Good rise due to Dollar loseing value./
Sveral interestin article on Kitco News.
Looking good for end of year.
IMHO.
Nov. 23, 2022
After 52 years transforming the Mineral Resources Authority into an economic one
- after the approval of the Industry Committee in the House of Representatives yesterday, Tuesday, in principle, on the draft law submitted by Representative Muhammad Ismail, a member of the House of Representatives
- currently EMRA yearly budget (195 million pounds) 8 million dollars
- poor capabilities available, with the lack of equipment, logistics and subsistence required for missions
- drilling equipment is worn out and spare parts are not available
- inadequate monitoring units equipped for mining areas
- lack of modern technologies such as aerial surveys, remote sensing devices, computers and specialized programs
- lack of a digital capacity to govern the work of monitoring and technical follow-up of mining sites, especially remote sensing
- weakness in the digital capabilities of computers and servers for data storage and preservation, especially geological maps
Reconsidering the terms of production sharing agreements and applying the royalty and tax system
Redesigning the organizational structure of the mineral wealth sector in order to manage the mining process optimally and without conflict of interest.
more details in link
https://www.facebook.com/elbarima/
--------------------------------------------------->>>>
Reminder: MrTibbles is still actively engaging with Centamin IR working to get answers on long standing questions â but IR has gone very quite lately. I hope a few more of us LTHs will contact IR with their Qs (especially those expired Doropo permits in Cote D'Ivoire!)
If you need inspiration see:
https://www.linkedin.com/posts/don-lawson-98619370_sukari-centamin-activity-6991105704119992321-5ZU2
this post got a lot of attention from mining insiders (and a few top ten shareholders) who agree with its content (including a Centamin employee - scroll thru the likes)
Probably finally deciding an error of judgement/
Someone there getting a kicked ****.
Centamin CEO Martin Horgan commented: âDelivery of this critical project is instrumental in our ongoing commitment to reduce our reliance on diesel fuel, minimise greenhouse gas emissions and realise material cost savings. The solar plant and potential to integrate grid power will contribute materially to our environmental stewardship philosophy and our strategic objective of maximising returns for all stakeholders.â
https://www.miningreview.com/gold/sukari-all-set-for-solar/
Goldman Sachs ; Group Inc.âs asset-management arm agreed Tuesday to pay US$4 million to settle a regulatory investigation into how it managed mutual funds and other products that pick stocks based on environmental, social and governance (ESG) criteria...yawn
The Securities and Exchange Commission said Goldman marketed the ESG funds and a similar investment strategy without always following a consistent framework spelled out in its compliance plans (the consistency was make a buck?). That meant Goldman violated an SEC compliance rule that requires investment advisers to implement plans designed to prevent potential regulatory violations. Goldman neither admitted nor denied the SECâs allegations.
The crypto evolution has been so badly managed one wonders whether there was not a conspiracy amongst the "regulators " (all asleep at the wheel or otherwise occupied?) to make the whole affair fail? Why given centuries of regulatory construct could not the regulatory bodies construct a regulatory system to manage what was clearly an investment paradigm out of control, and worth $100's billions?
Another example of the wonderful endeavours of those that should know better, but who do get paid handsomly, to do ... well what exactly do they do, and more importantyl what do they achieve? BA
Importantly to them they get paid well ... and are not accountable ....
There are far better investments ...
the gnome
Equities in Europe traded higher in the premarket on Wednesday ahead of the release of the latest updates on service and manufacturing in Germany, the Eurozone, and the United Kingdom. Germany's Bundesbank will also publish its monthly report on the current economic state.
The DAX rose by 0.08% at 8:00 am CET. At the same time, the FTSE 100 advanced by 0.09%. The CAC 40 increased by 0.33%.
The euro grew by 0.31% against the dollar to sell for $1.03326 at 7:58 am CET. At that minute, the pound sterling stood flat against the greenback to change hands for $1.18917.
Baha Breaking News (BBN) / JR
Happy hump yâal
Dang it Razor - I think you may be onto something. Unfortunately for us LTHs Centamin's share $ for a takeover has been engineered lower via the waste moving 'deal'. For those looking to connect the dots see:
https://www.linkedin.com/in/malak-khalil-0b857a12/
Dual qualified lawyer (Egypt/England and Wales) specialised in energy, environmental and natural resources law.
https://www.adsero.me/
https://www.linkedin.com/in/henry-onslow-08b8633a/recent-activity/
https://www.linkedin.com/in/simon-bottoms/
https://www.linkedin.com/in/mark-lynch-staunton-660a3345/
https://www.linkedin.com/in/daniel-kock-3608a133/
Note: To make it happen it would greatly help if Centamin maneuvers 'preapproval' from it's biggest shareholders.
Is that the stage we're at, Alex?
With the closing price of 104.45 once again Centamin is in great territory to receive a triple A RNS.
If the company makes an announcement regarding a potential bid or possible conclusion/cancellation of the court proceeding then the share price could break the 52 wk high and beyond.
Surely Alexandra Barter-C**** will come up with something.
I assume they must get more right than wrong! Berenberg was established in 1590, and today are one of Europe's leading privately owned banks, focusing on the business divisions Wealth and Asset Management, Investment Banking and Corporate Banking.
Its a real yank ?ank in the US in crypto space. It makes me wonder not what they were thinking of, but whether they have any capacity to think. FTXâs new management is expected to recount events leading up to the cryptocurrency platformâs sudden collapse. Governance? Exchange rules?
Elon Musk says his $44 billion Twitter takeover might result in a bankruptcy filing. But there could be other options.
To make the deal work, Mr. Musk has been trying to add subscription revenue (unsuccesfully) and reassure advertisers about the platformâs future (doubtful). Twitter was losing money before Mr. Musk bought the company, and the deal added a debt burden that requires fresh sources of cash.
It is tough to determine the state of the company. Twitter no longer has to file regular financial reports to the Securities and Exchange Commission (LOL), which are crucial tools for determining a companyâs financial health.
Away we go ...
best
the Gnome
Berenberg raises Centamin price target to 123 (115) pence - 'buy'
Stock exchanges in Europe traded mixed in premarket on Tuesday as investors looked for signals about the next monetary policy moves in recent comments by high-ranking European Central Bank officials. Elsewhere, British Prime Minister Rishi Sunak said that the United Kindom will "not pursue any relationship with Europe that relies on alignment with EU laws," while Brussels reportedly plans to introduce more sanctions against Chinese authorities over their human rights policies in Xinjiang.
The DAX was flat, London's FTSE 100 lost 0.09% and the CAC 40 rose by 0.27% at 8:01 am CET.
The euro was flat compared to the dollar at 7:59 am CET, trading at 1.02475. The British pound was 0.12% higher than the American currency, going for 1.18332 at the same time.
Baha Breaking News (BBN) / MS
https://twitter.com/centaminplc/status/1594748965869715462?s=46&t=d3rbunx7n_pYPBf0BLa2ag
nice!