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He will have read the signs and got in at 79.4 and out at 82.5 :-)
wild tiger??... probably trying to fix his broken trading signal machine (i.e brain)
gnome
1. USA midterms will be a FED headache after September.
2. They will stop and start with pivots and probably magnify stagflations impacts as they actually do not row their own boat.
3. They can not control energy supply which is the major source of inflation and inducing a recession.
4. They still aim for 2% pie in the sky inflation targets which can not be met.
5. The high USD may go back down (boosting gold if we see a recession) but if not mega problems in 2023.
6. A global recession outside of USA is baked into the pie and the IMF have got it right on what growth will look like.
7. The FED can not stop the war in Ukraine but they can hand USA Government a huge interest bill on its spending. Tony
Major European stocks recorded gains ahead of Thursday's trading session, with investors awaiting the latest batch of corporate earnings and economic data that will be released throughout the day.
After the opening bell, Germany is set to release July's preliminary inflation figures with markets expecting a slight decline versus the previous reading. Meanwhile, the United States Federal Reserve introduced another 75 basis points interest rate hike in response to record inflation.
The FTSE 100 gained 0.29%, while the DAX rose 0.45% and the CAC 40 grew by 0.61% at 6:55 am CET. Both the euro and the pound registered slight gains against the dollar at 7:25 am CET to sell for 1.02052 and 1.21644, respectively.
Baha Breaking News (BBN) / ND
Fed officials are raising rates at the most aggressive pace since the 1980s. Until last month, the central bank hadn’t raised rates by 0.75 point since 1994.
The Federal Reserve continued a sprint to reverse its easy-money policies by approving another unusually large interest rate increase and signaling more rises were likely coming to combat inflation that is running at a 40-year high.
And they have not even got a firm line of view of the effects of the last rate rise, but regardless are firm in their view, that not only is this large rate hike needed, but more are likely?? Bizarre to say the least.
As for the employment numbers, like to see the quality/dignified employment numbers, than the burger flip/underemployment free for all. The Fed and the whole main stream narrative is little more than a joke
Anybody like to bet the Feds will over do it?
the gnome
What the F .u . k . got to do with gold ? is this a preaching ? virus is from china and usa control mechanism if you want to preach !
MR OLD and certainly no 007.
Although I have a substancial amount of shares it now becomes less important to me,.
But I would like to live to see this company rise to a realistic value.
Maybe in a while it will happen, there are so many manipulaters enjoying trading this stock as can be clearly seen with odd buys and sells daily.
Discipline is the bridge between goals and achievement.
Surely you know that double oh seven!
Feds moves . Good rise today in Gold.
May it continue.
Encouraging, at the moment.
Andersen said they found case clusters inside the market, too, “and that clustering is very, very specifically in the parts of the market" where they now know people were selling wildlife, such as raccoon dogs, that are susceptible to infection with the coronavirus.
https://uk.yahoo.com/news/studies-bolster-theory-coronavirus-emerged-215249108.html
Thank you Mr Gnome
Great article about Chat/billboards,
https://www.afr.com/markets/equity-markets/magnis-seeks-court-order-to-reveal-hotcopper-users-identities-20220727-p5b503
(THERE is MORE SO VISIT THE WEB SITE, BUT I LIKE THIS.
Magnis seeks court order to reveal HotCopper users’ identities
ASX-listed battery manufacturing group Magnis Energy Technologies has lodged a federal court application demanding penny stock message board HotCopper disclose the identity of 15 anonymous posters it believes disparaged the company. Grief!
The July 22 application against HotCopper operator Report Card Pty Ltd seeks an order to force HotCopper to disclose the full name and address of each poster in addition to email addresses, any internet protocol (IP) address, the internet service provider, and any social media accounts linked to the HotCopper accounts.
Magnis Energy Technologies aims to build battery manufacturing plants in Townsville and New York.
Magnis refused to comment on the court application, although it’s believed the company is furious over what it sees as a series of malicious and false statements anonymously posted to HotCopper message boards about Magnis’ management and operating performance.
Some posters named in the court application use anonymous HotCopper accounts, including Mondrian, Fritzl, Clare69, Rat1973, Sunrock, and Johnyb26. The Market Herald, parent company of HotCopper, did not immediately respond to a request for comment.
According to court documents, the lawyer for HotCopper operator Report Card agreed to provide the identification details of the posters in compliance with any court order. However, by July 22, K&L Gates, the lawyers for Magnis, sent further correspondence reiterating the identification request and putting Report Card on notice.
Magnis’ chairman Frank Poullas is named as an applicant in the court request as seeking to pursue a defamation claim.
Australian Securities and Investments Commission has previously made inquiries with Magnis over the trading of its shares. In November 2021, the company issued an ASX statement in response to media coverage denying it was being investigated by ASIC, but conceded inquiries had been made.
The battery tech play reached a share price high of 73¢ on a market value of around $714 million on December 11 as retail investor enthusiasm for anything associated with lithium or electric vehicles peaked, but the stock had crashed back to 31¢ on Wednesday.
Magnis owns New York-based company Imperium3, which it says operates a lithium-ion battery manufacturing project. For the nine months to March 31, it reported zero revenue and an operating cash loss of $17.9 million. Investing cash outflows totalled $23.6 million, with the company reporting cash on hand of $81.8 million as at March 31....GL GN
Thanks cowichan, interesting stuff.
If electric trucks mean less ventilation infrastructure at depth they save quite a bit of money I guess?
Good to know the Barrick infiltration is being monitored, keep it up.
Major European stock indexes were mixed in the premarket session on Wednesday as investors awaited quarterly earnings reports by Deutsche Bank AG, Mercedes-Benz, Unicredit, and Lloyds Bank Plc among those expected to publish their reports.
Frankfurt's DAX increased by 0.53% at 6:48 am CET, while the CAC 40 was flat. At the same time, FTSE 100 was up by 0.35%.
The euro was 0.34% higher against the dollar at 6:58 am CET, going for 1.01499. The pound gained 0.23% against t the greenback, to sell at 1.20585 at the same time.
Baha Breaking News (BBN) / AB
Happy hump y’al
https://macleanengineering.com/ev-series/
They provided the EV's for Goldcorp's (now Newmont's) Borden Gold Project - see video
https://youtu.be/8UH4XgPN65Q
From MacLean's brochure:
The 2016 introduction of the MacLean EV Series of zero emissions/DPM, low
maintenance, low heat, low noise, data-rich, high performance mining vehicles was
a product development milestone for the company. Since then, we have gone
on to manufacture and commission over 40 battery electric mining vehicles (BEVs)
at underground mines globally, with over 100,000+ operating hours to date
MacLean is now taking its ‘EV-proven, EV-ready’ message to the mining world – for production support mining vehicles, considering the benefits of incremental battery electric vehicle introduction to allow for workforce training and supporting operator buy-in, which will pave the way for broader fleet electrification down the road.
https://memcowpcus.blob.core.windows.net/wpblobstore/2022/04/EV-Brochure-EN_2022_Final.pdf
This is Sukari's guy who'll be instrumental in making the switch
https://www.linkedin.com/in/jacobus-richard-thorne-70378666/?originalSubdomain=za
Coincidentally, Mr Thorne has worked for both Barrick and the above EV provider - how convenient for us... (or Barrick?) His work history:
UG Mobile Fleet Maintenance
Centamin PLC · Full-time
Apr 2022 - Present
MacLean Engineering - Materials Planner & Customer
Jun 2021 - Apr 2022
South Africa
Barrick Gold - Senior UG Fleet Maintenance Planner
Nov 2019 - Apr 2020
Tanzania
Barrick Gold - Mobile Fleet Snr Planner
Dec 2017 - Aug 2019
DRC
Cheers MrT. So solar will displace 22m litres of diesel, but that leaves a 124m litre fuel bill for power generation before they refuel a single truck or excavator. That is a colossal amount to transport let alone pay for (3500 tanker truck loads I make it - 10 tankers of diesel every day on electrical power alone) They can't hook up to the grid quick enough surely?
Electrical underground equipment has the advantage of reducing ventilation requirements and the engines are cheaper to run and easier to maintain than combustion engines.
They are however more expensive when purchasing and need infrastructure for charging , although if the Solar plant has the capacity?
In Feb 2018 Centamin said-
Sukari Going Green
...preparation of a feasibility study to assess for the installation of a 15MW solar
power plant on site at Sukari as a lower cost alternative for diesel fuel; and
(further along in the report they add if all goes well they would expand solar as primary power source)
also from the annual report;
NEAR TERM (1-2 YEARS)
...Optimize growth from existing operations by increasing high grade underground mining rates and processing plant upgrades.
...Evaluate potential for additional sources of high grade underground ore at Sukari.
...Continue to replace high-grade underground reserve at Sukari.
...Resource expansion and project evaluation in Burkina Faso and C£te d£Ivoire.
...Continue to evaluate selective M&A opportunities with the potential to develop low‑cost projects.
MEDIUM TERM (3‑5 YEARS)
...Maximize sustainable production profile at Sukari by fully exploiting underground potential.
...Development and first production in Burkina Faso and C£te d£Ivoire, assuming positive project evaluation.
It will cut on an annual basis the mine’s carbon emissions by 60,000 t CO2-e and consumption of diesel by 22 million liters.
The mine will therefore save US$9–13 million annually in the cost of fuel, lower exposure to the volatility in its price, and avoid handling logistics.
The Sukari solar plant will be the largest hybrid solar project at an off-grid mining operation. The massive project is expected to reduce diesel fuel oil consumption by more than 22 million litres per year and lower carbon emissions by more than 60,000 tonnes CO2-e per year. It will also reduce operating costs and increase reliability of the power system. The project is scheduled to be commissioned late in H1 2022.
The solar system designed by Juwi has maximized generation with bifacial solar PV modules and a single axis tracking system, taking advantage of the high irradiance at site. Juwi Hybrid IQ micro-grid technology will enable the integration of the solar and battery system into the existing off-grid network and support the operation of the existing power station. The benefits of the hybrid power solution at Sukari include:
Reducing diesel consumption by an estimated 22 million litres-e per year;
Lowering carbon emissions by an estimated 60,000 tCO2-e per every year;
Reduction of all in sustaining costs;
Reduced exposure to fuel price volatility;
Increased reliability of the power system.
https://www.renewableenergymagazine.com/pv_solar/juwi-to-construct-worlda-s-largest-solar-20210517
Yes the Zim story is a very interesting story which I have followed very closely, and sometimes too closely. It is a tragic reminder of the failure of democracy, the failure of the Kimberley process [diamonds], the failure of intelligent people to build a sustainable future in a land of abundant natural resources. It is the tragedy of what happens when trust walks out the door of a nation, and ideology and empty rhetoric walks in.
The gold coin? Great if the value of the gold is the content of the gold, but what is the "arbitrage" on the difference between the value of the contained gold, and the value of the coin which it is contained in (recall the debasement of currency at the back end of the Roman Empire some 2000 years ago!). Who measures the content of the gold, when trust in the government has departed? Who certifies the content. Really it is the lurch of a government who ...knows not what they are doing. The smart Zim which are a large part of the population smell a rat...or at least the room for a rat to nibble at the their assets.
Governments and agencies in so many nations, at all levels are falling over themselves to talk the language of inclusiveness and openness to community feedback and rising expectations of government service {I picked up a new sticker it read...."AM I INTERUPTING ANYTHING IMPORTANT?...IMPOSSIBLE I WORK FOR THE GOVERNMENT"]. Trust and transparency are supposedly the new currency to gain community acceptance, but unfortunately as noted above, trust in the governments walked out the door a few decades ago.
Make sure you convert your paper promises into real assets, and bunker down. It will probably be a cold winter for many
best
the gnome
So the printing presses turn, money appears out of trust, but trust has left, but ... the printing presses still turn. Like a boxer who has been hit onto the ropes too long, too many fights, which he has lost most, but won enough to keep him coming back. He doesnt know what new to do, nothing esle in the kit, so he goes into the ring, to repeat his folly, and lose again.
1) Having just re-listened to the Q2 webcast it seems solar will save 15% of the diesel used for electrical generation. That means, I think, they are burning 146m litres on power generation before they put a drop in the trucks. At "more than 80c/litre" that's 120million dollars a year.
If I understood correctly, there is a brand new power line 30km away and a route to it has already been surveyed for running a pipeline up from the red sea. This has got to be done hasn't it?
2) Could any of the miners here help me with the wider significance of electrifying the UG fleet? Horgan mentioned something about ventilation shafts and I wonder if electric trucks and plant not only save diesel but mean the infrastructure requirement for UG operations is lessened? V curious about this.
Either way both projects would hammer the AISC in the short term. But there is good news, there will be jam - oodles of jam - tomorrow. Or maybe next week. Good luck everyone.
They can be used in shops if they have enough change. Oh boy that’s a good one! The average retailer here goes into a meltdown if they see a £50 note, can you imagine the reaction of slapping one of those bad boys down on the counter ??
"Zimbabwe's central bank has launched gold coins in an effort to help curb soaring inflation amid a slump in the country's currency.
The central bank's main interest rate was more than doubled this month to 200% after the annual rate of inflation rose above 190%.
Each coin will be priced at the international market rate for an ounce of gold plus 5% for production costs.
As of Friday, an ounce was worth about $1,724 (£1,435).
It will be possible use the coins in shops, if they have enough change, according to the governor of the Reserve Bank of Zimbabwe, John Mangudya"
https://www.bbc.co.uk/news/world-africa-62298319
Major European stock indexes traded mixed in the premarket ahead of a busy earnings week. Company's such as UBS, Unilever, Credit Suisse, Deutsche Bank, and Nestle will all be releasing their earnings reports.
Furthermore, investors will be paying close attention to the Federal Reserve decision on interest rates, scheduled for Wednesday. Last week, European Central Bank rose its key interest rates by 50 basis points for the first time in 11 years.
The DAX declined 0.20% at 6:45 am CET. At the same time, the FTSE 100 added 0.10%. Meanwhile, the CAC 40 lost 0.19%. The euro traded 0.07% higher against the dollar at 6:56 am CET to go for 1.02275. The pound sterling gained 0.16% against the greenback to sell for 1.20640 simultaneously.
Baha Breaking News (BBN) / AY
Egypt is being violated, gold mining mines in Egypt The Egyptian government is expelling workers from the mines of Qasra, a group of nationalities who work there, some of which led to the deaths
https://twitter.com/1HabibAdam/status/1551095297346080770
---------------------------->>>>
From what some Egyptians say the problem of illegal miners is quite large, so expect the EMRA and authorities to get busy
Hi Dasut, sorry to hear that you had Covid, really glad you are back and getting upto steam again!
Sorry Dasut, thank you for pointing this out, the post should have read "relatively low UNIT mining cost!"
From Kees supplied calculations the overall mining cost was high because of a strip ratio of 10.
As you rightly pointed out - For a grade of around 1.0 g/t this strip ratio is way too high!
Tibbs
I asked a very experienced and well respected mining analyst for their opinion on this report .
Verdict-
This example is focused on exploration results.
If you have a technical report on reserves, a discussion of exploration results is part of it. However, the report would also include the overall geological model, the outline of the deposit, the resources and their level of confidence, how it would be mined, the conversion factors (mining recovery and dilution), processing, production schedule both for mining and processing, cost structure and a cash flow model, preferably on an annual basis. For an “operating mine” the company is exempt from providing a cash flow model. Why? I have no idea as the whole purpose of the report is to prove these are reserves and by definition these have to be economic.
The market regulators regarding disclosure are not on the side of investors.!