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Solar power plant commissioning - Q3 2022 (On-going)
· Capital structure review - Q3 2022
· Underground expansion study - Q3 2022
Correct Spoonington- supply side
Saw an interesting presentation the other day (will post the link if I can find it again) suggesting that this time inflation is caused more by supply side constraints rather than demand side influences.
It made a lot of sense to me & if correct means the central banks are a bit hamstrung as the interest rate hammer is not effective against supply side bottlenecks.
The likely result of this is that the central banks will continue to bring down the hammer which will result in a bit more pain which we will only get out of when the supply chains are fixed - the big question to me is just how bad are our supply chain issues, I have come across many diametrically opposed opinions on this all of which have some merit so I guess the answer is no-one has a clue :)
No worries, I thought it was an interesting link to share.
Apologies Jimbo_Jet I missed that you had already supplied the link.
European stock futures traded lower earlier on Wednesday after yesterday's publication of key inflation data in the United States and amid the publication of a new set of economic data from the UK.
Yesterday, the Labor Statistics Bureau stated that annual inflation in the United States came in at 8.3% in August. Besides, today, the UK Office for National Statistics announced that the Consumer Price Index (CPI) stood at 9.9%, and producer prices rose by 16.1% in August.
The DAX lost 137 points, or 1.04%, at 8:06 am CET, while the CAC 40 fell 0.95%, and the FTSE 100 declined 0.88%.
The euro improved by 0.14% against the dollar selling for $0.99810, and the pound was flat, selling for $1.14943 at the same time.
Baha Breaking News (BBN) / JG
Happy hump y’al
Would the real Centamin CEO please stand up!
https://see.news/centamin-egypt-invests-10-mln-in-exploration-phase-in-new-concession-areas/
Sotolo,
I have raised the issue with my local MP regarding Kwasi's growth target in that i made the point having millions of workers off on long term sick leave and having the resources to resolve this would have a huge impact on national productivity and consequentially GDP growth if it was included in how that numeration was determined. I also pointed out repairing damage caused by climate change to where we were before the event is not positive GDP growth but supporting measures preventing negative impacts has a GDP benefit. Hopefully they will change how they measure GDP and it helps NHS and other services.
Kind regards Tony
Mr Bond energy and food costs ARE included in CPI, teh figure reported today, core cpi excludes them but is a couple of per cent less as a result, but not the big figure reported today
Like I've been saying since January this year, inflation will top and decline later this year- any recession will be shallow and nothing like 2008 as the drivers are totally different- I sound like a stuck record but yet again, nothing in todays data make me change my mind
And manufactuing, including Crypto Mining, :-) .
How can they be right when energy and food costs are not included.
Fuel and energy costs affect everything that needs transporting.
Tornado, thanks more spot on wise words from you, Mr Bond I think the statistics looking bad are pretty correct, inflation is pretty high and with the labour market tight unemployment is low, the question is what next as forecasts are notoriously iffy, like weather forecasts for a month or two ahead,but as Tornado points out maybe interest rates won’t /can’t control this kind of supply side inflation
Apparently, a Bloomberg reporter predicted it was going to be higher last Friday from all the price rises she was observing State side. As the FED piles in higher interest charges, it is fuelling higher wage demands to pay the mortgages and rents which in turn pass through onto services and costs.
In the UK the low unemployment rate arises as a significant number of workers are on long term sick as they cannot get any treatment in the NHS system so employers here have got a major problem with finding workers. In the USA, the impact is 2M workers retiring early and a lot of people spending stimulus checks and liking social benefits over low paid work. High interest rates are making things worse thus far in that they are not reducing pay, hardly reducing vacancy notices at all and generating very little unemployment and so having no impact on the demand side of the economy.
I am not sure where the central bankers can go with all of this as they may well create a sovereign debt crisis before they can fix the inflation issue.
Does any thinking person to beleive Government Statistics are near accurate?
In the US mabe ,their market relies on a quick killing from all statistics good or bad. ;-)
IMO.
Just came across this story which I thought some would find interesting. Apologies if this has already been posted before:
https://see.news/centamin-egypt-invests-10-mln-in-exploration-phase-in-new-concession-areas/
'Centamin Mining has established 4 new companies to explore for gold in Egypt, and undertake exploration in the new concession areas that the company won in the first round of the gold auction that the country recently put forward.
CEO of AlSukari Gold Mining Company Amr Hassouna said the new companies include Centamin North for Mining, which is specialized in carrying out exploration works in the Najd area south of Al-Qusayr, and Centamin Central for Mining, which specializes in working in “Najras” near the Sukari mine.'
Major European stocks saw slight losses ahead of Tuesday's opening bell as investors prepared for the August inflation data from Germany and the United States, set to be published later today.
While markets expect the annual consumer price growth to remain unchanged in Germany, analysts forecast that US inflation will decline in response to the Federal Reserve's aggressive tightening policy.
At 6:58 am CET, the DAX lost 0.16%, the FTSE 100 fell by 0.22% and the CAC 40 decreased by 0.17%.
Both the euro and the pound recorded slight gains against the dollar at 7:46 am CET to trade for 1.01336 and 1.16899, respectively.
Baha Breaking News (BBN) / ND
I’m happy to share that I’m starting a new position as Junior exploration geologist at Barrick Gold Corporation!
Bishoy Awad
Minia University
Al Minya, Egypt
https://www.linkedin.com/posts/bishoy-awad-ab492b209_im-happy-to-share-that-im-starting-a-new-ugcPost-6964548763474374656-UmfT?
Especially now and the immediate future .
must be why that Centamin event was cancelled.
---------------------->>>
SEPTEMBER 12, 2022
The clean energy arm of Australian billionaire Andrew Forrest’s Fortescue Metals Group has signed a Memorandum of Understanding (MoU) with the Egyptian government to explore the development of a green hydrogen production project with a 9.2 GW installed capacity. The project could also include the construction of local manufacturing facilities for wind and solar components.
https://www.pv-magazine-australia.com/2022/09/12/fortescue-proposes-9-2-gw-green-hydrogen-project-in-egypt/
----------------------------->>>>
Now that the BIGGEST of the BIG miners are signing MOU's with Sisi and the EMRA - expect more and more miners to take note
No amount of sophistication is going to allay the fact that all of your knowledge is about the past and all your decisions are about the future.
Ian H. Wilson
https://www.oaktreecapital.com/insights/memo/the-illusion-of-knowledge
Long read (that may interest the skeptics among us)
Major stock markets across the European continent saw gains ahead of the first session of this week as investors awaited the latest economic data for the United Kingdom.
The previous weekend was marked by news that King Charles III of the United Kingdom was proclaimed the new monarch in a ceremony televised for the first time in the country's history.
The FTSE 100 rose 0.39% at 7:17 am CET, while the DAX grew 0.65% and the CAC 40 increased by 0.62%.
The euro climbed 0.41% against the greenback to sell for 1.00883, while the pound expanded 0.28% to $1.16187.
Baha Breaking News (BBN) / ND
Happy Monday y’al
BEBA Egypt - British Egyptian Business Association (BEBA)
5 hours ago
Due to urgent governmental commitments with H.E. Eng. Tarek El Molla, Minister of Petroleum & Mineral Resources the event on Tuesday, September 13, 2022, has been postponed.
This is a force majeure, and we apologize for any inconvenience this may have caused.
https://www.linkedin.com/posts/bebaegypt_due-to-urgent-governmental-commitments-with-activity-6974865556961136640-u07i?
----------------------------------------->>>>
But why? Molla was just signing the aforementioned gold concession agreements last week -
Thanks gnome - Much appreciate the in-depth reply. - You're the man in Oz and it's useful/helpful to have a local-opinion
Many thanks.
Rebess
worth a look and listen, Charlie Munger ....
a brief history lesson on assets, debt, with a view to the future , by a 90 year old seasoned investor
https://www.youtube.com/watch?v=v5UCmsXpngA
we will need some luck
best