George Frangeskides, Chairman at ALBA, explains why the Pilbara Lithium option ‘was too good to miss’. Watch the video here.
London South East prides itself on its community spirit, and in order to keep the chat section problem free, we ask all members to follow these simple rules. In these rules, we refer to ourselves as "we", "us", "our". The user of the website is referred to as "you" and "your".
By posting on our share chat boards you are agreeing to the following:
The IP address of all posts is recorded to aid in enforcing these conditions. As a user you agree to any information you have entered being stored in a database. You agree that we have the right to remove, edit, move or close any topic or board at any time should we see fit. You agree that we have the right to remove any post without notice. You agree that we have the right to suspend your account without notice.
Please note some users may not behave properly and may post content that is misleading, untrue or offensive.
It is not possible for us to fully monitor all content all of the time but where we have actually received notice of any content that is potentially misleading, untrue, offensive, unlawful, infringes third party rights or is potentially in breach of these terms and conditions, then we will review such content, decide whether to remove it from this website and act accordingly.
Premium Members are members that have a premium subscription with London South East. You can subscribe here.
London South East does not endorse such members, and posts should not be construed as advice and represent the opinions of the authors, not those of London South East Ltd, or its affiliates.
Gold only 3% off its sterling all time high, of course needs to make up about 12% inflation since then, so about 15% off high so IF Cey got costs back to just 15% of where they were, and production back where it was profits would only be down 50% from when gold was at all time high, so share price should be back up above a pound, so come in Centamin we are waiting for the promised lower costs and extra ounces afte this crazy two years
we look forward to updating you on the progress of these promising growth projects and the continued expansion of the underground resource base, including the high grade bonanza zones, during Q2.
Last two weeks of Q2 where is it!
Does anyone get any replies from this lot.
Major stock markets across the European continent saw some gains in the premarket trading on Thursday as investors digested the Federal Reserve's unexpected move to increase its key interest rate by 75 basis points.
The British and Swiss central banks were also set to announce their rate decisions later today, while Italy was expected to unveil the latest inflation data.
The FTSE 100 stood slightly in the green at 7:23 am CET, while the DAX gained 0.41% and the CAC 40 rose 0.54%.
The euro recorded slight losses against the dollar at 7:38 am CET to sell for 1.04338, while the pound declined 0.33% to $1.21383.
Baha Breaking News (BBN) / ND
Goldman Sachs have target on gold price of US$2,100-2,300/oz over next 3-6 months. This is down from the previous target range of US$2,300-2,500/oz for the same period. I REMAIN INTROGUED AS TO WHY NONE OF THESE LEARNED INSTIUTIONS IGNORE THE LACK OF SUPPLY SIDE FROM LACK OF EXPLORATION SUCCESS, AND IT IS GETTING WORSE EVERY DECADE ! THIS LACK OF SUPPLY FROM DISOCEVRY WILL IMPACT THE MARKET, AS IT AFFECTS THE SUPPLY/DEMAND SIDE. ITS THE REASON LARGE COMPANIES WHO CANNTO REPLACE THEIR RESERVES, YEAR AFTER YEAR, SUDDENLY DECIDE TO GO AND DO SOME M AND A...AND REPLACE THEIR RESERVES. AND THIS WILL HIT THE MARKETS OF THE FUTURE. ANYHOW CONTINUE
https://www.mining.com/web/wealth-shock-delays-gold-bull-market-as-goldman-revises-targets/?
Gold has been hit by a large “wealth shock” on the back of a weaker yuan following the economic impact of the lockdowns in China, the world’s largest consumer, according to Goldman Sachs Group Inc., which revised its price targets. Still, the worst may be over, it added.
The ongoing food and energy crisis and rising US rates have also seen other emerging market currencies under pressure, analysts including Mikhail Sprogis said in a June 14 note. This negative wealth effect for bullion has been further compounded by liquidation of short-term-oriented futures and exchange-traded fund positions, which are sensitive to trends in the dollar, they said.
Bullion has dropped more than 6% this quarter on rising bets that the Federal Reserve will be more aggressive in its monetary policy tightening path. Goldman economists expect two 75 basis-point hikes over the summer, which could sap US growth (not if you believe the Fed ?!) , add to fears of recession risks and boost gold investment demand.
“The wealth shock appears to have peaked, and we expect a rebound in emerging market gold demand in the second half of the year,” the analysts said. “In the absence of a large liquidity shock, we view current gold price weakness as a good entry point.”
The bank kept its upside outlook for the gold price but delayed the path by revising its three- and six-month targets to $2,100 and $2,300, from $2,300 and $2,500, respectively. The 12-month target of $2,500 was unchanged. Spot bullion was at $1,813 on Wednesday.
Russian domestic gold production will stay inside the country as it faces a surplus of dollars and its central bank aims to prevent excessive appreciation of the currency.
Given limited options for investment in foreign assets, the purchase of domestic gold output seems like one of the easiest ways to prevent excessive ruble strength.
Global central bank demand is still on track to meet bank’s forecast for 750 tons in 2022. Whay are they soaking up the barbarous relict of the past again, which pays no interest?
Oh well, good luck to us all
the gnome
In other words Fed rate hikes won't keep up with inflation which should be great for gold.
Nice gold bounce, let's hope so can follow and get done if my 50% loss back and 35% loss on HUM
75bp but target 3.4% by end of 2022 isn't that hawkish and pog seems to agree.
Hi Cowichan,
Pity that they intend trading through that bunch of stinkers the LBMA!
THE GOLD HUB
Overview
In line with The Government of Egypt (GoE) and Ministry of Petroleum and Mineral Resources (MoPMR) mandate for developing and best utilizing the mineral resources, MoPMR is looking to develop its gold mining sector through a study of developing “The Egyptian gold Hub” in the Eastern Desert for the upstream component of the gold value chain, from exploration through mine production to refined metal. The hub shall serve gold mining activities by availing specific gold mining services, and encouraging project owners to source services from local enterprises. The GoE’s vision is to use the gold Hub as a platform to attract private sector investment into the region, private service companies would have the base facilities and infrastructure to serve the growing gold sector in Egypt.
Hub concept
The World Bank (WB), with funds from Extractives Global Programmatic Support (EGPS), is supporting the GoE by providing the advisory services and analytics for the high-level master plan for a Gold Hub in the Eastern desert. “DMT Consulting Ltd Engineering & Mining Services” is conducting the study that is expected to be finished end of July 2022. The study will include the cost-benefit analysis of the Hub, develop a phased strategy for its implementation along with relevant expenditure and the promotion strategy to investors The hub shall consider the following key characteristics:
Define industrial, educational and residential zones within the Hub;
Refinery: First international accredited gold refinery in Egypt,to complete the value chain for gold production and qualify the produced gold for direct global trading through LBMA.
continues here :
https://www.egyptminingforum.com/conference-programme/project-spotlight/2022/companies/the-gold-hub/
posted 7 hours ago
Ministry of petroleum, Egypt is delighted to announce that the Egypt Mining Forum will take place at Sky Executive Resort in New Cairo on Monday, 4 July 2022.
The high-level Forum will focus on:
1. Egypt’s latest mining bid rounds
2. Opportunities for international investors in the Egyptian mining market
3. Global outlook for phosphates and fertilisers
4. Green mining strategies
5. International mining and minerals trade and supply chain
The forum is by invitation only, learn more about the participation criteria here: https://lnkd.in/diRxKcQH
https://www.linkedin.com/posts/egypt-mining-show_egypt-mining-forum-2022-activity-6942787624449245184-P2CD?
----------------------------------->>>>
then I posted the following question:
Will Egypt's gold mining royalties be finalized by then? The government of Egypt cannot expect foreign investors to wait and wait and wait. It's already been a decade of wasted opportunities for Egypt's mining industry -
Barrick Gold Corporation Centamin PLC B2Gold Corp. Altus Strategies Endeavour Mining The Egyptian Mineral Resources Authority The Egyptian-British Chamber of Commerce
---->>
then an employee of the EMRA responded :
We hope that !!!!!
Ahmad Mohammad
Senior Exploration Geologist at Egyptian mineral resources authority? Membership in The Australian Institute of Mining and Metallurgy
----------->>>
So who knows, maybe this event on the 4th of July will also bring some BIG news
I'm back again with another tiny purchase at 77.37p + costs today.
Decided it was time to ditch my remaining 60% of POLY, as the sentiment with that one not improved at all.
So moved from one gold miner (POLY = very high risk/reward) to CEY (a serial under performer.)
Now got an average cost of 81.5p all together.
Not looking for miracles (when it was £2), but a more modest 100-120p.
Fingers crossed it turns a corner.
GLA - C
PS. Let's hope the New Branding update for CSDI comes to fruition LOL
Nunquam
Just so you dont think you are alone ...
And while inflation is going up, Flatt says that’s a positive for Brookfield, which he says owns a portfolio mainly made up of real assets – or, as he calls it, stuff.
“If you think of our business in general, we own real, backbone things. Toll roads, pipelines, office buildings, retail centres, renewable energy plants, transmission lines.
“The simplest way to think about it, there’s a positive impact to them to the cash flow margin with inflation.”
Flatt explains it this way. Think of a poles and wire business in the energy sector, which Brookfield buys, safe in the knowledge the revenues it will receive are linked to inflation.
Because Brookfield spends a lot of money upfront, its ongoing costs are lower. So, as inflation rises, it gets 100 per cent of the benefit on the revenue side, but the inflation hit on the cost side has been minimised by Brookfield’s big upfront spend. The result is better margins.
Not only that, but where Brookfield might have expected the poles and wire business to grow revenue at 2 per cent, it is now compounding at a higher rate thanks to inflation.
“That’s the simple concept across our $US700 billion worth of stuff,” he says. “Everything’s not perfect, but 80 per cent of it is probably positively impacted in some way by positive inflation.”
Another reason Flatt is relaxed about the economic downturn he predicts is that it should make it easier for Brookfield to act as a classic contrarian investor and buy assets at more attractive prices.
“The last two-and-a-half years were tough. We bought things, but there was lots of money around with lots of sponsors and everyone could borrow money. Therefore, there was no way to differentiate yourself.
Bruce Flatt says the coming recession should be seen as part of a bigger business cycle.
Brookfield CEO says recession coming, but rates still low
“Today, that’s different. Credit is harder to come by. Banks are only lending to some people. Capital markets are differentiating between good sponsors and ones that aren’t good sponsors or aren’t seasoned sponsors. So, this now is the time which favours us. We will find better deals now.”
Indeed, Flatt believes Brookfield’s position heading into a difficult environment will be helped by what he sees as a contrarian approach during the boom.
“When everyone else wanted to put their money into growth businesses at 200 times revenue, we were buying insurance assets at book value, or less than book.” ME TOO
RELAXED AND COMFORTABLE. PLUS A LIKE AN EXPOSURE TO GOLD, AND MINERS ...
the gnome
US retail sales down ... oops.. gold getting a nudge :)
:-) the share price is only transitional.
Reminds me of Gina Linetti in Brooklyn 99 !!
Eventually the money printing will end , but probably not in my life time . I still think that gold ,land, property and income earning assets are good stores of wealth. I don't trust bit coin. But what do I know ? I have been in Centamin on and off for many years . I like the dividends, but the share price is fairly abysmal.
Bet you the Fed blame Putin
“We spent just over £1 trillion bailing out the banks after the financial crisis. So if we did it for the bankers then why wouldn’t we do it what is needed for our fishermen and our farmers now?”
Jeremy Hunt MP, 1 July 2019
What was claimed
We spent just over £1 trillion bailing out the banks after the financial crisis.
Our verdict
Incorrect, the total government spend was £137 billion. Most of this has been paid back and around £27 billion is still outstanding. Around £1 trillion worth of financial guarantees were provided to investors—but these were promises designed to restore confidence in the banks, not cash for spending.
https://fullfact.org/economy/1-trillion-not-spent-bailing-out-banks/
https://www.opendemocracy.net/en/oureconomy/2008-we-bailed-out-banks-2021-we-need-bail-out-planet/
https://www.finance-watch.org/bail-out-people-not-banks/
Bitcoin capitulating, if goes below $20k it's toast, @ $20.5 just now it'll trigger a downward spiral to around $13k or lower. Gold is the daddy just wait and see.
Hi Paul,
It's always worth considering that on the vast majority of internet forums and even on social media that anyone can become, or claim to be whomever they desire!
Exactly the same applies to claims of market trading prowess and success, you have been around the block often enough to recognise the fact from wishful thinking and those who are so desperate to appear to be more successful, or superior to others!
Certainly just being invested in Centamin for over a decade is enough to make anyone who is being honest cynical!
Again, being cynical, Bitcoin seems to be falling a lot recently. I think a lot of financial institutions bought into bitcoin in the last 6 months? We wont be having to bail the banks out again will we?
What do you reckon Mr T?
Gold and gold stocks came under pressure during May. Gold ended the month with a US$59.58 (3.1%) decline to US$1,837.35/oz. The dollar was the main headwind, rising sharply to reach 20-year highs on 12 May. Gold stocks came under additional pressure from heavy selling across broader stock markets.
Markets and the economy are beginning to show signs of an imminent recession. The US Federal Reserve will eventually have to choose between lower inflation and higher growth. It can’t have both, and it might get neither if stagflation sets in.
Gold has fallen below its bull market trend-line that has been in place for three years. We will be watching to see if gold either gets back on trend, establishes a new trend or begins trending sideways in a broad US$400 band. Regardless of the trend gold takes from here, we expect it to test the top of the range again over the coming year, driven by inflation, geopolitical tensions, a weakening dollar, other risk-driven events or if the Fed changes course.
Please find this interesting and thought provoking lecture,
“I’m exposing the strange truth about America’s new economic reality.
Many will become rich, while others are left behind…”
– Nomi Prins, PhD
https://secure.rogueeconomics.com/?cid=MKT623113&eid=MKT639120&assetId=AST236063&page=1
One of biggest problems to overcome and one which is out of Centamin's and indeed us mere retails shareholders to overcome is the manipulation and suppression of the price of precious metals.
Despite the US having a record and unpayable national debt Wall Street has decided that the dollar is king and getting ever stronger and although if anyone is honest they know that this is a lie, it simply does'nt matter, because the FED and the cartel control all the levers and they ain't going to allow the truth or sensibility to prevail and stop their lucrative scam!
An sp can only go up or down- it's funny when the stats are that about 75% of retail traders lose money- so based on this if they did the opposite of what they thought this situation would reverse- so you have to question how good the info is out there...