Gordon Stein, CFO of CleanTech Lithium, explains why CTL acquired the 23 Laguna Verde licenses. Watch the video here.
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uh-oh. Stand by for solar plant expansion study. It's never-ending this is it?
Dasut - fingers crossed we're going to see production in Q3 and Q4 around the 120,000oz mark for both quarters + Sukari resource update, Doropo PFS, grid connection study, UG expansion & solar plant commissioned. That is a lot of good news coming down the pipe.
World oil consumption will jump by 2.1m barrels a day this year as factories and power generators try to dodge rocketing gas prices
Wonder if this will have any effect on Sukari getting linked to the national Egyptian power grid?
In Egypt, ministers backed a plan to ration electricity usage as part of efforts to preserve natural gas for export to the EU and elsewhere.
Shops will have to limit the use of strong lighting and keep air conditioning temperatures above 25 degrees.
The predictions came on another fraught day for the UK’s energy market, which is caught up in the Continental crisis.
JP Morgan economist Allan Monks said the UK was running out of time to avoid a recession brought on by soaring gas prices.
https://www.telegraph.co.uk/business/2022/08/11/markets-live-latest-coronavirus-news-pound-euro-ftse-100/
Just as well Centamin has the solar plant!
Fair comment Dasut,
As far as I am concerned I don't really care what the corporate analysts think, if Kees Dekker is satisfied with Martin Hogan's new strategy and the progress so far, that's good enough for me!
Tibbs
Hi 3 bear,
No offence taken, I quite understand your reservations, I have the advantage of knowing Andrew better than you and I can assure you that he would understand your scepticism.
To be fair after requests from people like us Andrew has made great efforts in trying to make the content of his weekly broadcasts easier to understand, but I agree its still hard going for anyone not actually in the wholesale side!
As Shane suggest during the introduction to the broadcasts they welcome some feedback or suggestions via Twitter.
Currently above $1801.
High of the day $1801.86
*long time until Monday
What's wrong with the H1 RNS,how is profit after tax down 26 percent to 85 m but EPS up 42 percent. FY21 profit was 102m, for H122 profit to be down 26 percent that would make H121 profit 115m. Did Centamin actually make 49 m H122 profit but they've added the 36m asset for sale in current assets to H122 profit. They say negative cash flow of 25m but in fact looks like 83m, are they deducting 57m from that figure under dividend paid to owner of parent but shouldn't this instead be called distribution of profit share payment to the companys partner as they do say that the FCF 25m is after distribution to the companys partner.
Quite so Mr Bond, especially with all the worldwide uncertainty at present the majority of the traders will be closing CFD positions to avoid any nasty gap up or down depending if they are long or short on Monday morning open!.
Tibbs No I didn't participate in the Q2 phone in as I had an appointment that I couldn't change. To be honest it is the next couple of quarters that interests me more as all being well there are some interesting updates due.
Tony its Friday,the Traders taking their profits for their weekend ****up on the coast.
Good weekend all.
I must not look at the crap posts that normally appear at weekends.
Gold not breaking through, GDX in 1 hour down channel and Centamin now below 95p. Unless it dramatically all changes which it can of course, the rally has been overbought at this time, and then we have the usual pull back forming higher lows and march upwards again.
A big red flag on the end of the rally if it is.
Fair enough Mr T, I may have been a bit harsh, he's just not for me
Centamin starting to struggle along with the gold chart. Curry last week on Gold eagle called 11 August as a top. Looks like he might have got it correct this time.
HI 3Bear,
Ignore Andrew Maguire if that is your preference, but the manipulation is very real.
Anyone that hasn't spent years in this side of the markets is going to find understanding or comprehending what goes on difficult to understand , myself included.
Just to be clear Andrew isn't saying that you should buy gold from him and never has done, as you may be aware there are numerous precious metals dealers out there.
Think back why did Nixon detach the $ from the gold standard?
You are of course entitled to your opinion, but the precious metals price is very real, there just isn't enough actual gold to fill them even if no more paper contracts were issued and precious metals production carried on fr the next 1o years , there would still be a shortfall of physical to fulfil orders much manipulated by paper contracts .
The price of all precious metals is far lower than it should be and the manipulation of silver is by far the worse, Andrew left a very senior position at big city trading bank after he witnessed the destruction of the livelihoods of Chilean communities by precous metals price manipulation and he pledged to fight it.
But just have a listen to a broadcast from CEO of First Majestic Silver Price Manipulation by Keith Neumeyer
https://www.silverdoctors.com/silver/silver-news/mining-ceo-predicts-130-silver/#more-79069
prof lovely to hear from you, I think the point is maybe AM is obfuscating to cloak his simple selling message, that 3bear has deciphered for,us in what looks like complex justification. I got a bit involved in early stages the making of the Millennium Dome years ago, I could never understand what is was supposed to be about as I sat through endless prolix meetings. I thought I was too stupid to understand, but it turns out actually because there was no substance to it, just bogus ideas masked by language. So thanks 3bear, I think your summary is just it even if Prof thinks a little brutal, and agree with you that others shouldn’t be dissuaded, as you say “ if I've got this wrong I don't want to dissuade people from listening”
Hi Tibbs,
I may not view it as strongly as 3bear but I am certainly not entirely convinced by Maguire.
The aim of communications is to communicate. If what he says cannot be understood by the reasonably intelligent layperson, who it seems is his audience, then it is arguably not effective.
Best wishes,
Prof
European stock exchanges were mostly lower on Friday ahead of United Kingdom GDP, trade balance and industrial production data before the open. Traders will await the industrial production report from the Eurozone before noon local time.
The DAX decreased by 0.10%, London's FTSE 100 was flat and the CAC 40 lost 0.11% at 6:54 am CET.
The euro was 0.06% down compared to the dollar at 7:11 am CET, trading at 1.03152. The British pound was 0.14% lower than the American currency, going for 1.21858 a minute later.
Baha Breaking News (BBN) / MS
Happy Friday y’al,
Enjoy your weekend.
Apols MrTibbles I don't buy too complex to understand. I don't want to cause any offence but my view is that Maguire can be safely ignored. I'm really happy to be corrected by anybody here, but after doing my best to decipher him, it seems he says this:
1) The true price of gold is a zillion bucks per oz.
2) The only reason this is not manifest is due to a comex/paper gold conspiracy.
3) The answer is to buy physical gold (from me)
4) Repeat endlessly.
5) Use as much indecipherable jargon as poss to disguise 4).
6) Er, that's it.
While this shtick may be comforting to those invested in a poorly performing gold producer, I'm not sure it's useful. Tibbs I mean no disrespect, I'm relatively new here and more than open to counter arguments, if I've got this wrong I don't want to dissuade people from listening to good source, I just don't believe that's what Maguire is.
hi 3bear,
Andrew does try too explain things in layman terms, but too be fair the subject matter is so complex and so far removed from our world its no wonder that people like us find it hard to take in.
How many politicians understand what is going on, very few and likely most of them have vested interests because they realise to challenge it would likely expose just how broken the monetary & market systems are!
This is why the manipulation carries on, very few on the outside understand it and so it doesn't get challenged!
Thanks Dasut,
Very fair comments, who knows where Centamin might be had they had management who really understood the industry from the start , it seems like a decade was wasted in many respects, still find it hard to comprehend
I agree, lets hope hat something can be salvaged out of the Ampella deal!
In some respects what has happened with Centamin reminds me of when I was invested RBS, one rear I went to the AGM in Edinburgh when the shares was around £7 with a handsome dividend, on arrival we were offered never ending filling of our glasses from champagne fountains, the platters were heaped with Scottish fresh salmon and the chef was cutting thick sliced of roasted Aberdeen Angus beef and then Brave Heart played as Sir Fred entered the room, after a speech announcing planned acquisitions and that this was just the start as RBS was going to expand internationally Sir Fred toured the room shaking peoples hands, later there were parties and entertainment into the night!
Then sir Fred bought a bank that everyone else had walked away from!
https://www.spectator.co.uk/article/was-abn-amro-a-deal-too-far-for-fred-the-shred-
Little did I realise that all too soon after such promises my shares would be worth 20p, my broker friend said he would be dead before RBS recovered and that he was going to invest in Centamin, they were a decent outfit ,so I did the same!
How the wheel turns!
Were you the retail investor who called in on the Cey Q2 Q & A ?
Quite so Mr Gnome,
Yet there are those that still claim the banks and trading desks are adequately regulated and that we should trust in them!
The banks and trading desks will never take regulation seriously when such piffling sentences for such fraudulent behaviour appear to be the norm, I have little doubt that these fraudsters won't do a year and will probably have some nice offers of employment as soon are they are out again!
Not only is the regulation inadequate, its loaded against the ordinary people like us and if that weren't bad enough there are certain areas of the market that ordinary investors are always excluded from.
It must be amusing for those on the inside who have exclusive/privileged access to so much information two days or so before its made available to the likes of us!
Then of course if that were not unfair/corrupt enough there are the ordinary investors who are unaware that their stop losses are all visible to the market makers!
But then how many investors in the UK/OZ make their decisions on investing in their chosen stock based on the recommendations of analysts who may be working to a corporate/institutional agenda or have presented reconsolidations based on unsubstantiated claims from the company!
Regulation, what regulation!
I've tried listening to Maguire a couple of times and not understood a word he was banging on about. This bear of little brain needs things set out in simpler terms...
Making good progress with our solar power plant! Commissioning is planned for Q3, bringing significant cost benefits and carbon emission reduction to the #Sukarigoldmine. Meanwhile, we continue to evaluate lower carbon power options and ways to reduce our power costs.
https://twitter.com/centaminplc/status/1557656428969541632?s=21&t=5O6R3NAQ966tvowhLx_dHg
Mr. Smith was a rapid-fire trader who used his mouse to manually enter and cancel orders so fast that colleagues joked he needed to put ice on his fingers to cool them down, according to trial testimony. Mr. Smith spoofed “all the time,” according to Christian Trunz, a former junior trader who pleaded guilty in 2019 and testified that he learned the tactic by looking over Mr. Smith’s shoulder...and so on and so forth LOL
The DOJ’s fraud section, which tried the case, won convictions in two prior spoofing trials in Chicago, where the futures exchange operated by CME Group Inc. is based. Former gold and silver traders at Deutsche Bank AG and Bank of America Corp. were convicted of spoofing-related crimes in 2020 and 2021, respectively.
In the Deutsche Bank case, the defendants were sentenced to serve one year and a day in prison. The former Bank of America traders haven’t been sentenced. Messrs. Smith and Nowak will be sentenced at a future date.
Would you trust a financial and legal structure that allowed such behaviour...or at best, gave them a little smack....
Fine : Profits +losses +50%
Jail Term: 5 x period of bad beahviour
completely riiculous, and yet it happens again and again..and why is it "allowed" Who benefits ?
the gnome