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Amr Hassouna, CEO of Al-Sukari Gold Mining Company, director of Centamin Egypt, revealed the launch of 4 new entities operating under the umbrella and supervision of Centamin International, to undertake exploration and prospecting tasks in the latest new concessions that it won, as part of the first round of the gold auction that it put forward.
Hassouna revealed to Al Mal that the establishment of the new entities was approved after Centamin applied to obtain an exploration license that obligated it to invest about $10 million in rock collection operations, the preparation of probabilities and preliminary studies with the new concessions, during a period of 18 months, starting from the time of receiving the areas. and start working.
He stressed that the inauguration of the new entities was completed after winning the last bid, and they include Centamin North for Mining, which is specialized in carrying out exploration, drilling and production works in the Najd region south of Al-Qusair, and Centamin Central for Mining, and it is responsible for the work in “Nagras” near Al-Sukari. .
He added that the third company is Centamin South for Mining, and its mission is to work in the Umm Al-Rous area, north of Al-Sukari, near Marsa Alam Airport, in addition to Centamin Egypt for Mining Services, and its job is to provide the other three companies with all the mining services
Hassouna revealed that actual work has begun on the new concessions, specifically in the areas of Najras and Umm Al-Rous, and within three months, work will begin in the Najd area, south of the city of Al-Qusayr
He pointed out that during the current stage, samples of rocks are being collected and analyzed in the largest laboratories in the world, explaining that the initial evidence is promising, and heralds the presence of a good concentration of gold ore
https://almalnews.com/%d8%b3%d9%86%d8%aa%d8%a7%d9%85%d9%8a%d9%86-%d8%a7%d9%84%d8%b9%d8%a7%d9%84%d9%85%d9%8a%d8%a9-%d8%aa%d8%af%d8%b4%d9%86-4-%d9%83%d9%8a%d8%a7%d9%86%d8%a7%d8%aa-%d8%ac%d8%af%d9%8a%d8%af%d8%a9/
posted 6:48 am, Monday, 5 September 22
Amr Hassouna, CEO of the company, in his first interview:
"We welcome expansion to increase production through bidding or partnership and acquisition"
https://almalnews.com/%d8%b9%d9%85%d8%b1%d9%88-%d8%ad%d8%b3%d9%88%d9%86%d8%a9-%d8%a7%d9%84%d9%85%d8%af%d9%8a%d8%b1-%d8%a7%d9%84%d8%aa%d9%86%d9%81%d9%8a%d8%b0%d9%89-%d9%84%d9%84%d8%b4%d8%b1%d9%83%d8%a9-%d9%81%d9%89-%d8%a3/
-------------------------------->>>>
Maybe it's the Egyptian version of clickbait ? Overall the interview doesn't have much substance - except the subtitle !
At some point the charts will be right- SP can only go up or down, so law of averages confirms this
Cey holds up and time has moved it out of the down channel despite price below 89p. 88.4p area was the break above. Suspect we have a modest rally to low 90's over this week. Could be a very different ball game next week.
European stocks decreased in premarket trading on Tuesday, following Monday's sharp selloff amid the energy crisis. Earlier, Moscow suspended gas supply through the Nord Stream pipeline, while G7 agreed to introduce a price cap on Russian oil. Amid the crisis, OPEC+ announced its first output cut this year. On the data front, investors awaited the report on German factory orders.
The FTSE 100 lost 0.20% at 7:03 am CET, the DAX was down 0.08% and the CAC 40 declined 0.16% at the same time.
The euro added 0.14% against the dollar to sell for 0.99461 at 7:06 am CET and the pound gained 0.40% against the US currency to go for 1.15655 at the same time.
Baha Breaking News (BBN) / NP
At least Centamin have the Solar Plant coming on line.
If you run a vvehicle , better fill the tank.
Orices going up again.
This is normally followed by Gold Prices.
Hopefully.
At least the pound is going back up.
Wooden pole gets appointed. Pound starts falling against USD and euro.
The T and J show cant even make the gold market look half way decent, LOL. And the real laugh is they get paid to make and manage this sham? They should do some head counting and see that the big market is where there are more people, and when you put India, Russia, China, SE Asia together, thats about it. The gold is being accumulated in these countries and they all think it is time for a break from the ridiculous exorbitant privilege of the highly engineered flatulent US$? Africa deserves a break from the BS from the north, and they will have their rising sooner than one thinks.
Now to the clowns we have in Australia (move aside Tom and Jerry !~), with another wonderful Job Summit under their belt. The big NEW event to emerge from a few days of dribble, drivel and spit (The government will not rule out making multi-employer bargaining compulsory?!!), was to come out with an idea that failed 30 years ago, and to offer this up with the advice, that "this time it will be different"? Insanity with a suit and tie, and now near gender balance, LOL. Again people getting paid well to make fools of themselves.
About to be buried by the unelected unions, with disputes set to further hovel productivty (which is not looking good ...very sick really!)...Unlimited single sick days, “healthy option” meal allowances and a flat 15 per cent increase to night shift pay rates for station managers, upgrade new inner-city trains to union specifications, all now on the menu to boost...productivity further.
The lunatics have a firm grip on the asylum, and with any luck I will be able to catch the last boat of refugees to Singapore.
Tom and Jerry were really quite respectable.
best to all,
bury some bars int he back yard
the gnome
Hi Market,
You could well be right although neither of the candidates policies stack up under scrutiny ,
Sky News has hosted a live televised Q&A with Rishi Sunak and Liz Truss, as the Conservative leadership contest continues and party members prepare to decide who will be the next Prime Minister.
The wide-ranging ninety-minute discussion took in the cost of living crisis, the war in Ukraine, the NHS and more. We’ve taken a look at some of the key claims.
As part of Full Fact’s coverage of this event and working with the Sky News Politics Hub to share our live fact checking.
https://fullfact.org/news/sky-conservative-leadership-rishi-sunak-liz-truss/
Hi Gnome - Yes it's the 'Tom & Jerry duo (Comex/LBMA) controlling the world of gold for their own book. - Amazing that between them they are able to do this when the Comex only delivers around 1% of the contracts placed - The other 99% is just a casino play to accommodate their game of plunder..
The channel declines during the day. If Centamin fails to break resistance it is likely to drop back to 87p area during a quiet trading day. So far resistance holding.
Now hitting resistance.
This sounds like a thoroughly great idea ! It had to happen, why does the LBMA have so uch power....?
the gnome
Major stock markets across the European continent registered significant losses ahead of the first session of the week, with investors awaiting the latest business activity data set for release throughout the day.
Today's trading session will also be marked by the upcoming OPEC+ ministerial meeting, which comes following the G7's decision to introduce a price cap for Russian oil last week. Meanwhile, Boris Johnson's successor in the British prime minister post was scheduled to be revealed later this afternoon.
The DAX tumbled 3.35% in premarket trading at 7:09 am CET, while the CAC 40 plunged 2.78% and the FTSE 100 decreased 1.10%.
The euro dropped below $0.99 for the first time in the last two decades, selling 0.69% lower to trade at 0.98875 at 7:20 am CET. At the same time, the pound declined 0.51% to $1.14528.
Baha Breaking News (BBN) / ND
Happy Monday y’al
Labour day holiday in the US
Wall St. closed
Major stock markets across the European continent registered significant losses ahead of the first session of the week, with investors awaiting the latest business activity data set for release throughout the day.Today's trading session will also be marked by the upcoming OPEC+ ministerial meeting, which comes following the G7's decision to introduce a price cap for Russian oil last week. Meanwhile, Boris Johnson's successor in the British prime minister post was scheduled to be revealed later this afternoon.The DAX tumbled 3.35% in premarket trading at 7:09 am CET, while the CAC 40 plunged 2.78% and the FTSE 100 decreased 1.10%. The euro dropped below $0.99 for the first time in the last two decades, selling 0.69% lower to trade at 0.98875 at 7:20 am CET. At the same time, the pound declined 0.51% to $1.14528.Baha Breaking News (BBN) / NDHappy Monday y’al Labour Day Holiday in the US today,Wall St. closed.
Liz trust is great for gold her arrogant blindness of her polices , sell stocks and buy gold. what do i know just an opinion from an old boy and a bit of experience
Not sure how the UK market will react when wooden pole (Liz Truss) gets appointed as PM tomorrow. (around 1400 hrs)
Nice one Rebess.
How can anyone know the truth or just biased propagander ,from every direction.
All bubbles burst. South Sea, Tulip, Market Crash of the 20's and 30's Euro Snake. Sub Prime, Crypto. Not even Central Banks can hold the tide of mass market flow. If you don't study history you are destined to repeat it, and the digital age will accelerate that by some order. Hold gold
Bob
Hi Tornadotony
Many thanks for your views and thoughts appreciated........... Tony
I will hold some powder dry for another day..............like many I have too many in CEY
Here's looking forward to hopefully a more positive 2023 for CEY and for all
Kind regards
Mike
Apologies if this has already been posted - If not, I think you will all find it interesting.
https://www.zerohedge.com/markets/eurasian-alliance-plans-moscow-world-standard-destroy-lbmas-monopoly-precious-metals
Excuse keyboard slips.
Time for an Audit of we all know who.
Get on the web ,get real.
Buy and see the real price.
Think its easy to get a discount for tonnes, that many Central Banks need to cover their shorts .
Think again ,Physical is the real price.
If by december not covered much more expensive.
So now while there is time, more selling of Comex prices.
Its amazing.
Could it be another way of trying to reduce the Physical resourse value of AU of those that have and that have told lies about their Phtysical Holdings?
Think of the reourcussions of Gold Backed or Commodities Reserve Currency.
For those that think a little trivea maybe.
To ponder.
:-)