The latest Investing Matters Podcast episode featuring Jeremy Skillington, CEO of Poolbeg Pharma has just been released. Listen here.
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80% chance of 1% fed rate rise now, dollar will go through the second roof!!
~22% average gain last month- some were saying when BTC, the leader, dropped below 20k it was done... just like cey and gold, support and resistance levels are nonsense
Ruffer investment trust just published their end of year assessment. Their frank report and style of writing it is really quite refreshing. worth a read:
https://www.lse.co.uk/rns/RICA/investment-manager8217s-year-end-review-krcx3v34clga0r8.html
European stock exchanges traded with gains in the premarket on Monday as investors prepared for the next European Central Bank interest rate decision, set to be announced on Thursday. Final Eurozone June inflation figures will come out on Tuesday, with a similar report by the United Kingdom due to be published on Wednesday. Political crises in Italy and the UK will also dominate the headlines this week.
The DAX increased by 0.46%, London's FTSE 100 rose by 0.51% and the CAC 40 advanced by 0.55% at 7:15 am CET.
The euro was 0.06% higher against the dollar at 7:17 am CET, trading at 1.00934. The British pound was up 0.16% compared to the American currency, going for 1.18867 a minute later.
Baha Breaking News (BBN) / MS
Happy Monday y’al
Economics is when no one checks your math.
We should indeed use mathematics to make sense of the actual real economy. Neoclassical economics doesn’t do that. It scribbles arbitrary symbols on paper and pretends it has ‘used mathematics.’
We cannot escape long-term inflation until we:
a) Accelerate our expansion into new energy reserves
b) Limit climate damages due to prior consumption of energy reserves
Can't have both. So, in the long-run at least, we're stuck
https://twitter.com/ProfSteveKeen
https://twitter.com/nephologue
Lol- another one who got out at near high who is so interested in cey, waits until now to decide to share his amazing skills lol
Fingers crossed bear.
hi mrtibbles and all other long term holders just wondering why you still in. myself got out when the share was just short of £2.00. enjoy your posts just wondering why you put yourself through this torture
How long before Joe Biden fist bumps Putin?
What a lovely Sunday morning lesson. However many economists would say all of these have short term effects an in the end with shares profits will out as with Cey fall. Gold is another matter and in the longer term dependent on how many think it will rise or fall, which depends more on the opportunity cost of holding combined with worry and fashion, and like now how much it has already risen above trend in expectation of inflations, but the pundits don’t seem big enough to affect the latter, nor the conspirators the former - also I suppose it is like fashion columnists who predict longer hems every year, they can’t always be right! But for us here the short term is unpredictable noise. Have a lovely day (or for you night)
Good to know Goldgnome - I hope Mr Horgan and team know these intricacies / pros & cons before hearing the Capital sales pitch, again
Also, related - Capital is now hiring more than just truck drivers for its Sukari waste clearing operations in Egypt. I suppose the grand plan includes service to the whole emerging mining scene in Egypt.
Ahmed Mahmoud Abdelaal
Mining Engineer at Capital Limited
Experience
Capital Limited
Mining Engineer
Jul 2022 - Present · 1 mo
https://www.linkedin.com/in/ahmed-mahmoud-abdelaal-45813b1b3/
(Farther back this person did a one month internship at Centamin)
So in essence Capital will be (is) competing for mining employees with Centamin - as to be expected I suppose but a factor nonetheless
Thanks Sotolo
The traders who do the manipulation are reasonably expert, and I believe they have deep pockets of OPM's. They rarely trade on the one hit principle, but they often use the "creation of SP momentum". BUt of course there are many ways to skin a cat
Churning: When a trader works with other investors' money, they may execute an excessive number of trades in order to increase trade commissions. Even though the trader does not necessarily make the investor more money, they generate a lot of commission for themselves.
Ramping: An investor can ramp a market when they own a lot of money or a lot of a certain security. They can either sell their entire stock at once or buy a security with all their available capital. By doing this, they can cause prices to spike in a favorable direction.
Wash Trading: This is a method of market manipulation where a large investor would simultaneously place buy and sell orders on an asset. This registers as tremendous trading volume, which draws the attention of other investors.
Bear Raiding: Bear raiding is the trader's attempt to push down the price of a security in order to cover a short position. This is normally executed when the trader believes the price will not fall down in their favor, prompting them to manipulate the market.
Rampproofing: This is a mechanism used to ignore any public information that was published with the purpose of misleading the market. Publishers of this information tend to hold high stakes in the market.
Pools: These are illegal agreements between investors, where one of the pool investors is given full control of the pooled funds. This is illegal since that one investor normally holds a tremendous amount of power that could be used to manipulate the market.
Pump and Dump: These schemes are common among small investors. Communication channels would be established where a leading individual would signal a large group of investors to invest in one specific security. When they all work together, they can cause a single stock to rally significantly within seconds.
Cross-Market Manipulation: This is a complex process that relates to how a trader would trade in one market with the objective of causing movement in a correlated market. This activity requires thorough knowledge of a market and substantial reserves of capital.
Quote Stuffing: This is done with high-frequency trading bots that have the capacity to execute immense trades in milliseconds. This gives them the ability to flood markets and capitalize on the slow movement of human traders. Although using these bots is not illegal, they may not be used to manipulate the market.
Stock Bashing: This is a form of financial manipulation that is done through marketing. Stock bashers would publish false information about a company that would cause its stock price to tumble. These investors then capitalize on the downward movement by shorting the company's stock.
and so on, and so forth ...
Thanks Cowichan
Worth remembering that Chrysos measures the total amount of gold in a sample, which is not necessarily the amount of gold you make money on. The difference is mapped by the Geomet model, which is a model of metallurgical factors such as the amount of gold recovered by a certain leach, at a certain size fraction, and how long this recovery takes. Sadly, this model is generally derived a minute fraction of the orebody, and is where predicted profitable models turn out to be financial mediocrity or disasters. Recalling the most common reasons for failure in a project
Geology, resources and reserves estimation
>Inadequate attention to local variability
>Statistics and modelling override common sense
Metallurgical testwork, sampling and scale-up
>Metallurgical domains within the orebody not understood (Geomet)
>Testing is done on unrepresentative composites (Geomet)
>Failure to identify process contaminants
>Inability to handle ore types as per mining schedule
>Process water chemistry differs with lab
Chrysos does not solve these issues and does not appreciably lower the risk of project failure. In fact relying on such sophistacated lab set up (designed in a developed world for operation in a developed world), with huge cap costs and very significant operating costs in a developing country is an "interesting" step. There are far cheaper and more viable answers to the problem
the gnome
a bit early (on Tuesday)
"Capital will be announcing its trading update for the six months to 30 June on 19 July, which will include a conference call and question and answer session."
Also, Cote D'Ivoire to get one of the fancy new Chrysos core assay systems soon via Capital's MSALABS division:
"A fourth unit will arrive imminently in Yamoussoukro, Cote d’Ivoire with facility preparations well advanced."
https://www.capdrill.com/media/investors/Announcements/CAPD-2022-_MSA-announcement_20220714_Website.pdf
Doropo may benefit from the Chrysos super quick results if that's in the plan
Gnome there was a good discussion about spoofing on Kitco, that I have also seen back in the 80’s with cable as the pound was moved a couple of cents in minutes. The point is it has a big intraday bearing ie on very short term movements but is quickly left behind as settles back where it was, so not the real movements that affect us, says Kitco and what I saw, ie rising real rates and falling dollar that still presage gold down despite snake oil salesmen’s positive talk. One day there will be a bottom and gold will turn and make new highs but which miners will still be here, Centamin if it reduces costs so the losses are less and conserves cash cutting divis, but the market is saying perhaps not the likes of Hoc which have costs as nearly as high as Cey but no way to bring them down instead rising, of course both of these two also have major political/economic risk in Egypt and Peru as higher rates and dollar plus massive food and oil inflation hit those two poor and indebted countries. All imho but it is not spoofing that is our problem nor the myriad conspiracy theories here but real lives and real economic problems that have been building now sing 2007 coming home to roost big time. We thought that would help gold but didn’t see the massive interest rate and thus dollar rise ….
Jurors were told that JP Morgan has been ripping off the gold and silver markets for years.
Lucy Jennings, a prosecutor with the Justice Department's fraud section, said, "This case is about a criminal conspiracy inside one of Wall Street's largest banks," adding, "To make more money for themselves, they decided to cheat."
Three former JPM employees are in the firing line, including veteran head of precious metals, Michael Nowak, gold trader Gregg Smith and Jeffrey Ruffo, an executive director who specialized in hedge fund sales. They are all charged with racketeering conspiracy as well as conspiring to commit price manipulation, wire fraud, commodities fraud and spoofing from 2008 to 2016.
Spoofing was banned by law in 2010. It involves vast orders that traders cancel before they can be executed in a bid to push prices in the direction they want to make their actual trades profitable.
Smith, a lead gold trader, was said to have executed 38,000 layering sequences over the years, or about 20 a day, prosecutors said in filings. Nowak himself primarily traded options, but he would dip into the futures market to hedge those positions. He tried his hand at layering in September 2009, according to filings, and went on to use the technique some 3,600 times. Ruffo is alleged to have told Smith where he needed the market in order to fulfill orders involving at least two of his hedge fund clients. Moore Capital Management and Tudor Investment Corporation, according to court filings....
Apologies, thought I was on the CEY board...
12 Jul 2022 Defence and Security Analyst Professor Michael Clarke looks at the HIMARS mobile rocket systems which Ukrainian forces used to hit a Russian ammunition depot, causing one of the biggest explosions in the war so far.
Prof Clarke says the HIMARS are causing many problems for Russian forces because they can't locate them. https://www.youtube.com/watch?v=qZKqLSsPBhw
15 Jul 2022 Russian blockade broken: Ukrainian vessels crossed the red-line!
https://www.youtube.com/watch?v=OTw4-2PXObw
Finland's President Sauli Niinistö discusses his phone call with Russian President Vladimir Putin after Finland announced their intention to join NATO.
https://www.youtube.com/watch?v=WVU7TUBZki8
Putin's oldest enemy' has advice for Western leaders
948,496 views 11 Jul 2022 Mikhail Khodorkovsky was once the richest man in Russia until he challenged Vladimir Putin and was sent to jail for 10 years. Now, he has advice for Western leaders trying to deal with his former adversary, telling CBC’s Terence McKenna that a show of strength is key.
Putin will attack a NATO country unless the West stands up to him!
https://www.youtube.com/watch?v=n5IXIYuHobk
Indian traders using illegal gold to buy oil @ 30% discount to sell back into the markets!
A closer look at the unprecedented degree of gold and silver futures price backwardation, with the heavily oversold naked shorts bubble ready to burst.
https://www.youtube.com/watch?v=CNq7yc_aXxo&t=13s
It's so hard to tell Mr T- drivers are different this time round. I suspect the fed will allow a small recession to stop overheating and whack inflation. In the U.K. I hope the new PM takes action on fuel price which will make the biggest impact on inflation. I see a slight recession is most likely, not that deep as way different to 2008. As for CEY- outside of decent RNS, hard to make a case for gold as over the past 12months the traditional case has been there... for cey and other indices a jump will ensue the second we get a topping of inflation in the US Monthly's or a a drop- certain stocks will perform well though in a slight recession
04 Jul 2022
The Bank of England says inflation might reach 11 per cent this year.
There are warnings that some people will have to choose between heating and eating.
But what does it mean for the whole economy when prices just keep rising? In the 1970s inflation in the UK led to prices and wages spiralling as workers fought for wages that would keep up with prices.
Those years were dominated by waves of strikes and social unrest as inflation became embedded in the economic system. The current situation is being exacerbated by Covid 19, the war in Ukraine and Brexit so is there anything that government can do to stop it?
How bad could it get? And are the days of low inflation gone forever?
https://www.bbc.co.uk/sounds/play/m0018wz7