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tibbles the lefty liberal, has to put his filth on here again! he has only one goal, and its nothing to do with gold!
in this week’s Live from the Vault, Andrew Maguire sits down with the director of ‘The Paradigm of Money’ documentary, Pete Antico, to talk about the unprecedented transfer of wealth between the shrinking Middle-Class and the financial elite.
The macroeconomic scholar exposes Wall Street’s corruption, drawing attention to the trillion-dollar government bailouts profiting ‘Too Big to Fail’ institutions while regular Americans struggle to face inflation.
Timestamps
00:00 Start
01:20 Introducing Peter Antico. ‘The Paradigm of Money’ teaser.
04:00 What inspired Pete to create his movie? America’s financial condition
10:30 Big bank’s bailouts! JP Morgan racing to exit the silver market.
22:22 Naked Short. Sanctioned stealing!
26:10 Educating the wider audience about money
https://www.lse.co.uk/ShareChat.asp?ShareTicker=CEY&share=Centamin-PLC
When the UK left the EU, it still had some financial commitments to the bloc, which were estimated to come to around £32.9 billion. On Thursday, a statement from the government admitted that the figure is now £42.5 billion – an increase of almost £10 billion.
The announcement was made very quietly, after the start of parliament’s recess, cunningly avoiding coming under fire from opposition MPs – or even Tory bankbenchers, such as Theresa May.
https://www.thepoke.co.uk/2022/07/22/brexit-divorce-bill-another-10-billion/
https://www.bbc.co.uk/news/uk-politics-62263972
"This Conservative government's terrible deal, backed by [Conservative leadership contenders] Liz Truss and Rishi Sunak, is costing British taxpayers billions of pounds," Liberal Democrat foreign affairs spokesperson Layla Moran said.
"This is the price of years of Conservative chaos and neglect."
Yes an upbeat presentation, unfortunately not enough of the right information!
In reality its only going to be possible determine whether the Open Pit is really worthwhile when the company produces a long term plan for it that is made public.
Centamin need to make available their long term plan and studies in which they motivate resources/reserves, there really is no good reason they shouldn't do this.
Hi Cowichan,
I remain suspicious that we shareholders aren't being told as much as we should and that the analysts involved in these presentation sfor whatever reasons never seem to ask enough of the right questions!
I won't go into details at this stage, but after Wednesdays Q2 2022 update I am somewhat concerned because it seems ever more apparent why the high grading grading in the open pit carried on for so long, or until the crack in the open pit wall brought about some forced admissions!!
The board in Jersey claimed they were unaware that the waste ore wasn't being cleared in the open pit , so admitted complacency or laziness on their part, even so a failure by them to carry out their responsibilities of acting in the best interest of share holders, which is bad enough, but hard to believe, although better to admit to that failure than to admit being complicit in or condoning such bad mining practice at Sukari to bump up the guidances, at least until the crack appeared in the gloss!
The BOD must have been aware since 2015 of the grade problems in the open pit, and again in 2018, Andrew Pardey was certainly aware since 2015, he was challenged by an investor on the 2018 Q & A quarterly update where he lied, claiming he was unaware of the Kees Dekker reports, he also tried to play down the importance of the contributions from the underground mine and the pole axed underground LHDR
in the light of what has been disclosed in this latest update possibly all that money and time spent on the open pit clearance would have been better spent on developing the under ground operations and possibly potential new reserves elsewhere?
With the current gold price much lower than the average price of US$1863/oz achieved in Q2, they will need to do much better production wise in Q3 to improve on Q2.
Noted -More open pit material mined, but with a drop in ore pushing the strip ratio up.
Being 11 is very high for open pit operations at a grade of around 1 g/t Au.
So difficult to make money as things stand!
On the plus side there is stockpiled material in both periods and at relatively good grades.
-Substantially more underground ore mined at a better grade which likely means all the free cash flow comes from underground mining.
I am told reporting such as “cash cost” and AISC per is pretty pointless as these can be manipulated and are to a large extent out of control of management with grade having a major role as has book entries to re-allocate cost to capex.
Far more preferable is unit cost for:
- Underground Mining
- Open Pit Mining, preferably distinguishing between ore and waste, and before any reallocation to Capex as “deferred stripping"
- Re handling Cost
- Processing Cost
- G&A - annually
Technical reports on reserves usually give such costs, but financial and/or MDA reporting does not.
Centamin has relatively very low open pit mining cost compared to their peers,which is good!
https://twitter.com/centaminplc/status/1550754889927720961?s=21&t=eD-SUA0mMgbeIFdLuCWFvA
Couldn't agree more Cowichan!
---->>>
https://www.newcrest.com/sites/default/files/2022-07/220721_Newcrest%20Jun%202022%20Quarterly%20Report%20-%20Exploration.pdf
<<<<-----
To present quarterly exploration results;
- comprehensive drill data
- in-context diagrams / maps
- explanations of geology encountered
- plan outlines going forward
Centamin actually 'used to' give much better updates similar to Newcrest's prior to Mr Horgan's arrival - especially in West Africa - ultimately it did us long term shareholders no good, but whose fault is that - geopolitical risk? poor ROE? mismanagement of concessions?
Regardless, going forward can we expect more thorough updates, Mr Horgan?
From what I read the latest RNS made no mention of :
- the much touted gravity survey results around Sukari
- Sukari satellite ore deposit progress/timeline
- the Egyptian royalty terms progress (which was supposed to be completed within a year - so now overdue)
- divestiture of Batie West progress (very, very overdue)
- and all the questions raised with Investor Relations re: the Capital waste removal contract particulars
- plus several other outstanding questions
Hey Emilie @ Centamin Investor Relations , why the silence ? A response to shareholders regarding our emails would be appreciated !
Current betting is 75 but also some are 50, depends on which newsfeed you read... there's seem to be more on 75 then slowing the increases until a decline again from Feb2023... Newmont and Barrick not doing so well today but there's a few hours til close.
Jam today and maybe next week too as I don't see the Fed being sooooo aggressive with those hikes with unemployment rising.
The future's bright my friends - wonder what tigger will be claiming 3 months from now
The reason for me is the recent few RNS, and continued honesty on costs, albeit constantly conservative. Once inflation tops, levels and drops, the radically undervalued stock will increase it's rises.
Hi Sotolo,
Interesting. My decision was also influenced by the strong resistance level in the 1680s although in my case it stopped me selling, which I was very tempted to do out of worry about gold falling further. The other element that stopped me selling is that I really do think CEY itself is on the up provided the headwind of the gold price is not stronger.
Best wishes,
Prof
I also topped up middle of yesterday , finally reinvesting the dividend, as gold touched 1680, as the likes of the pundits , those who seem to get it right rather than sell the stuff, who have been this is a very strong resistance from the flash crash low, so we would get to it and the to and expect a bounce to around $1800. Therefore I am not selling yet unlike you Wild Tiger and will see what happens as/if we near $1800
Wow, where do I sign up for a subscription Tiger?
What will you call this wonderful service?
May I suggest “Professor Hindsight’s Stock Cornucopia” - has a catchy ring to it :)
PS Thanks for the post of the Crisis on Wall St video Gnome, although have seem it all before I still find the assorted idiots defending themselves whilst blaming everyone else most amusing :)
Delusional.
Every post making it more clear.
Or are you taking the **** out of yourself,for a laugh.
;-)
For those with an interest in how things happen, 4 parts, well worth the look
https://www.youtube.com/watch?v=ZLIV0Zb5lfM
we do such an incredible job of forgetting the key learnings from the past, and chase wildtigers promising wilder returns with no downside, plus a tub of snakeoil to boot. Go tiger!.
Here is another I came across, (remember VW?)
the history of catalytic converters reveals another side of Detroit [ or just a deeper darker side]. The industry refined the technology only after Congress imposed strict limits and deadlines and foreign car makers threatened to develop cleaner engines. It lobbied forcefully against passage of the standards in 1970, calling them unobtainable, disastrously expensive and environmentally unnecessary. It pressed its case right up to the date of installing the first catalytic converters, and even after the devices put millions of cars into compliance, it fought to have the standards relaxed for cars and not extended to trucks...cars smoking, people smoking, similar?
The movie about it ...
https://www.latimes.com/entertainment-arts/movies/story/2021-06-30/no-sudden-move-review-soderbergh-don-cheadle-benicio-del-toro
enjoy the weekend. I will !
best
the gnome
I would take £3 now.. (let hope Martin builds strong and quick)
but still prefer golden flip flops £5 plus yearly divi....back to the real world
Go for it Tifer, you’ve definitely got skills.
"for credibility" Steve come on; let the fantasist play....LOL
Sometimes I do, sometimes I dont depending on how I feel lol. But when I launch my paid service my subscribers will get ALL my trades for sure.
For credibility, if you post a sell on a profit it's always good to post the buy at the time, not retrospectively :-).
There were couple of signs I spotted yesterday after US the market opened
Just out of interest Wildtiger- what made you buy in at pretty much the lowest point yesterday when you posted this at around 11:00?
Wildtiger
Gold heading lower21 Jul 2022 11:15
Looks like gold wants to go to 1500-1600. Not good for CEY. Patience is the key here, wait for the gold to touch the 1500 range
Bought at 77p yesterday, out at 80.2 today. Don't believe gold will stay above 1600 for much longer