Gordon Stein, CFO of CleanTech Lithium, explains why CTL acquired the 23 Laguna Verde licenses. Watch the video here.
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Thankyou Spoonington for the tip, IDX have been punished, certainly interesting figures, and there seems to be a solid progression in last few days ...
Self evident, I wish it was that self evident to those in the pollies positions.
best
the gnome
Love the Tuesday am positive energy Razor!
European stock exchanges traded mostly higher on Tuesday, as market participants awaited the latest reports on the region's consumer confidence and key data on German and Spanish consumer prices, as costs of energy and food continue to rally.
Previously, the European Central Bank warned that inflation is expected to remain high in the short term, while focusing on closing the gap between the current policy rate and approaching rate rises on a meeting-by-meeting basis.
Frankfurt's DAX and the CAC 40 rose up by 0.49% and 0.43% at 7:31 am CET. At the same time, the FTSE 100 dropped by 0.19%, while the Spanish IBEX 35 grew by 0.64%.
The euro and the pound sterling stood flat against the American dollar, going for $1.00010 and $1.17036 respectively at 7:33 am CET.
Baha Breaking News (BBN) / AB
Happy Tuesday y’al
At the starting blocks again.
Our rosé is yet another day closer to blooming.
Bol.
Gnome what you say is self evident, as you are in my country I will give you an easy profit, buy IDX you will do well :)
Lower quality advice for lower fees? No thanks
SAME OLD RUBBISH, GETTING WORSE
“Lowering standards to lower fees” is the proposed approach to reforming financial advice?..THE NEW SUGGESTION FROM THE NEW GOVT?!
That’s a strong “Hell to the no” from me.
See, there’s a review underway, covering financial advice.
And boy… as you can tell, WE have some thoughts.
Apparently, if reports in the Australian Financial Review are to be believed (and there’s no reason not to) the review is going to recommend that financial advisors no longer have to apply the ‘best interest’ test, when giving financial advice.
Whoa! WTF!!
If these changes go through, financial advisors would no longer have to ensure their advice was in the clients’ best interest?
Think about that for a minute.
Imagine being a doctor, and not having your patients’ best interest as your number one obligation.
Or a lawyer, and not having to act in the best interest of your client.
And yet this review is (apparently) about to let financial advisors act in some other way?
Apparently ‘good’ advice will now be enough.
Goodness me!
Maybe, after a decade or so, the industry is about to win, putting itself ahead of its clients again?
Oh, they don’t actually say that.
They say they’re worried that advice isn’t affordable enough.
See, having to act in clients’ best interest is apparently too expensive.
And if they don’t have to do that any more, they can make advice cheaper.
Sure, it may not be in our best interest any more, but at least it’s affordable.
If that sentence doesn’t strike you as completely absurd, you need to read it again.
Apparently the options are:
-- We’ll do what’s in your best interest, but it’ll be expensive; or
-- You can pay less, but we can’t promise the advice is in your best interest
Frankly, I’m not sure I have the words.
Some people will say the administrative burden of the ‘best interests test’ excludes those who can’t afford the fee.
I’m sure that’s right. After all, most financial advisors are driving 15-year old Toyota Camrys, right?
A cheap shot? Maybe.
And they're not bad guys and girls. Frankly, they're right -- the admin burden is a debacle.
They're not wrong about the problem.
But it's the proposed solution that stinks.
See, there IS a problem.
But it’s not the one you think.
It’s not the ‘best interests’ duty that’s the problem.
It’s the fact our system is so bloody complex that so many of us need advisors! NOW why is that?!!!
the gnome.
Interesting commentary from the USA. The commentary from Oz is house sales and prices are heaidng south ... as commented on before.
Home Sales Are Crashing Faster Than the Bursting of the 2005 Housing Bubble
THU, AUG 18, 2022 - 1:08PM
By Christopher Puplava, CRPC®
Chief Investment Officer, Financial Sense® Wealth Management
Existing home sales continued their historic plunge in July to reach the lowest level in 7 years outside of COVID, down roughly 1.7 million home sales in just the last six months.
To put the current pace of decline into perspective, the housing bubble peaked in 2005 and then rolled over heading into 2006, but the speed of the decline did not accelerate until it began to fall off a cliff in 2007.
https://www.financialsense.com/blog/20346/home-sales-are-crashing-faster-bursting-2005-housing-bubble
Powell’s hawkish speech at the Fed’s Jackson Hole meeting sent Wall Street tumbling on Friday night and the pain spread across the local bourse from the opening bell, with the Australian tech sector dropping 4.4 per cent amid some spectacular falls, including Life360 (down 8.4 per cent), Block (down 7.8 per cent), Megaport (down 9.1 per cent) and Zip (down 8.9 per cent).
There are a lot of fintechs who have razor thin moats, but of course we dont like to use this in the analysis of value. Its all done in the clocks and the likes, the mega scale potential in the drop of a hat (or 50% in value), which is what I dislike, as there is not a lot of substance in the likes.
I think this bodes well for gold, and I suspect and hope the extraordinary privielege given to the US$ is eroded, and sent to history or the archives.
best
the gnome
If nothing else it gives continuity of production with people who are familiar with the equiptment.
To remove and replace would likley cost more in loss of production let alone the supply of new.
transport and supply problems are still a major factor for all.
Stay in business capital was $199.1 million, offset by $26.7 million related to
the routine sale of PPE, primarily the exit from Sukari.
https://wcsecure.weblink.com.au/pdf/_PRN/02556328.pdf
https://www.tipranks.com/news/article/centamin-stock-the-gold-miner-for-your-safe-returns
My friend when you get to our stage capital protection is vital, it is nice to make a profit but if we risk it all we may have to go back to work - not groovey!
I will take risk when it seems sensible but my primary thought is we have enough, I will protect that position always :)
Oops I meant the vast majority were saying s and p would drop further when it hit the 3600's - this site needs an edit button lol
My strategy is similar- my highest risk is also crypto- most of money is tied up in property and private pension (which is managed by someone else for me and I keep equity globally based for balance), cars. I play with my gambling money on cey and some miners and other high risks stocks along with crypto. I see to CFD on gold and major indices, had several wins and got profits wiped out and hit a loss in 1 bad move so don't bother with that anymore as too high risk for me :-). Good luck Spoonington- well done the other day. As you say no one knows precisely the direction, I recall a few months ago when s and p hit the 3600's it was certain to keep going down and yet it went back up the circa 4300 and lots of people lost a packet... time will tell but with my main pension equity is the way to go as the drawdown will take the rest of the my life, so plenty of time for recoveries and gains and the trend doesn't lie across every indice
My other 90% is 10% crypto (BTC & ETH), 10% Australian equities, 10% international equities & 60% cash - I believe markets are overvalued at the moment thus my weighting to cash - this pains me as I hate getting an effective negative return but I do think I will profit from this strategy - in the interim I will use the cash to make casino style bets on the market, my recent one has proved profitable whether my future ones will be likewise remains to be seen :)
To explain I do not consider mining companies to be gold holdings, my 10% is made up of 50 oz of physical bullion which I treat as our national reserve, I have another 100 oz through a listed ETF called PMGOLD, it is the best paper gold I have come across & I want the ability to trade despite my long term insurance plan - it is nice to be able to get a return from your insurance :)
I invest purely from the requirements of myself, my wife & of course the Lady Spoonington Woofalot which gives me a huge advantage over big funds, I will always use that advantage just as they will use theirs - no point in crying over the state of the world we have created, we know the rules, the trick is to gain benefit from them & primarily make sure that you doggie enjoys a lavish lifestyle :)
I remain confident that inflation rapid rise will fall back, I've been saying this for ages - many predicted the fed would be less hawkish as recent inflation data markets showed topping in the USA and this remains the case- the markets reacted to the fed stating they would continue to whack inflation hence the drop in markets and gold in general. Had they not done this, markets would have risen but dropped back later and harder out of fear with any negative future data- volatility is key and essential for markets- the trend is indeed the friend which has been one way in history- unless you invest in 1 sector or even 1 share which is total madness. As is total madness is trying to guess drops- the long term is littered with doomsayers, missing out on superb gains- just look at the 30year plus trend and they've all lost- of course, like high risk stuff, crypto, gold miners etc these are fun to trade daily, weekly and monthly as a small % of overall portfolio
Spoonington you seem surprisingly wise, with 10% gold insurance. However the question is whether gold miners are insurance or the opposite, risky speculation, as costs seem to rise mid term faster than the price of gold as finding it becomes tougher, unlike base metals where dealing mostly depends on newly mined, so you may be protected by your gold while we lose with our miners, especially in falling sterling where the gold price fall is less while the gold price cost rises are more. Where is your other 90%?
To answer your question it has a huge impact on Centamin as it will be reflected in the price of gold which is the biggest influence on our share price.
Ignore the remonstrations of the gold bulls (e.g. maguire, schiff, etc), they are fuelled primarily by self interest, instead look at fundamentals.
I have done this & hold 10% of my investment portfolio in bullion, to me it is insurance, don’t like paying the premium in terms of forefone return but when the sh*t hits the fan I will be OK.
As usual just my opinion but having an insurance blacktop has always served me well :)
Couldnt agree more about the buring of Oil. Simply dont drive a petrol car (etc). Everyone can make this decision or in fact decisions now. If you look at the way people drive cars, it is quite ludicrous. So many cars with only one person in it, at least in Oz. Is this the most responsible driving? To drive 5-15 kms to work? and then go to the gym, for exercise? Why not combine the 2 and ride? So many simple things we could do, and yet we dont?
I think there is far better future in nuclear as a longterm base energy source, and am more optimisitic about being able to dispose any waste very easily in the not too distant future. The technology exists now. If we are concerned we can impliment now.
I recently met an outback station woner, who said he was not going to do any small burn offs, because of the CO2 emissions and impact in the atmosphere. So the plan was to let the dead eucalyptius leaves to lie around to a lightning strike? He was running 8,000 cattle on his property?
One of the issues we dont talk about is human population growth. Is there just too many? Why? What do we do? When? How? to hard?
Another we dont talk about is the cost of energy for developing countries. THe US Empire was developed on cheap energy
and so on and so forth. There are many things thta can be done , now.
I love the concept of AISC ot produce an ounce of gold, why dont we have this to produce a kwatt of energy...? etc
best
the gnome
Just wondering how this affects Centamin? Greater drought and Worse harvests in Egypt leads to more unrest, hits miners, or more world unrest leads to higher gold, which will win out and over what time frame, if in our grandchildren’s lifetime won’t Centamin have disappeared by then. So would love to know your views on how stagflation, mad gas prices etc will affect Cey, do you expect commodities and inflation to fall back as after the 70’s, and do you think. These may affect the share price more than long term warming that may or may nor be usual for the planet as you argue about?
3bear, like Gnome (I think, don’t want to speak for him) of course there is concern about the long term effect of a lot of impacts the human race has on this planet.
The problem is that the current policy direction seems to be based on popularism rather then rational examination which to me is a problem.
The human race used to burn people at the stake for suggesting that the Earth was not the centre of the universe or was not flat - how are those arguments regarded now with hindsight?
We are faced with numerous problems most of which are the result of our actions as a race, the solution to these problems lies in considered rational thought!
Just my two bobs worth so not overly important, I will no likely be dead before the real doom takes hold, in the interim I will continue to attempt to profit from the irrational behaviour of our race :)
https://seekingalpha.com/article/4474841-centamin-stock-potential-takeover-target-if-weakness-persists?source=acquisition_campaign_google&utm_source=google&utm_medium=cpc&utm_campaign=16160107180&utm_term=138882501091%5Edsa-
However, the company has announced two major goals that it's looking to deliver on, and they include the following:
2+ million ounces of additional mineral reserves added by 2024
Expanding Sukari Underground reserve life to 10+ years by 2024
Assuming the successful completion of these goals, we would see the mine life extended past 2037, making Sukari one of the longest-life assets globally. We'd also see an improvement in the production profile over the mine life, with Sukari Underground providing an outsized benefit to production due to its much higher grades (3.6 grams per tonne gold vs. 1.2 grams per tonne gold in open-pit reserves).
………..
Once Geodrill reports (provided the findings are positive) I expect a raft of positive news flow and analyst re ratings.
1485125208378%5E%5E581249221158%5E%5E%5Eg&internal_promotion=true&gclid=CjwKCAjwgaeYBhBAEiwAvMgp2oYQYkimh95J5DEhUG0xxfiEsftOn_3CaeKj-zEi9S4bWgGeT1UHOxoCZaIQAvD_BwE
The Centennial Issue Foreign Affairs September/October 2022
Volume 101 Number 1
The Age of Uncertainty
It was interesting reading as I went through it. Some of the contributions give an insight where things may unfold next.
Tony
Gnome you're a scientist - are you not worried about the long term effects of burning/consuming 15 billion litres of oil every day? We're on a unique spaceship gliding through the void with no life raft. It just seems a bit reckless to me?
Thanks Sotolo, everything was screaming to me that this would be the outcome but I have got used to my short bets turning the other way so was expecting the worst.
It must have been because yesterday was worldwide national doggie day & my nom de plume is my doggie’s name who I love very dearly - once again she has brought me good fortune & will surely share in the profits :)
No problems with knoking out the gas flairing, and I am a long term environmentalist.
I am also a long term scientist, and the level of scientific rigour in the climate change debate is substandard in the main stream mess.
best
the gnome