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Hi Halfpenny,
Thank you for the link which worked fine and led me to Centamin
https://www.proactiveinvestors.co.uk/LON:CEY/Centamin-PLC
Possibly the biggest frustration in all this is the time factor to put things right, but then I was foolish, or greedy, or both and didn't get out at my original target, who would have believed that the situation at Sukari could have possibly been so serious and that we would descend to these levels again, but then over the past two or three years ongoing events the world, certainly the UK has also changed in so many ways and hindsight is a great thing!
Best of luck re 50K
Gold in them hills...hopefully
Just taken another 50k cheap as chips..
Major indexes in Europe traded higher in the premarket on Wednesday amid news on the Ukraine crisis and its global implications for the market and the economy. Besides, markets expect the release of more economic data for the day and the week.
Earlier, it was learned that United States President Joe Biden plans to provide Ukraine with an advanced rocket system to help Kiev combat the Russian military advances. Moreover, yesterday the European Union announced that its leaders had reached an agreement to ban the export of Russian oil to the EU.
The DAX gained 0.53% at 6:52 am CET, while the CAC 40 added 0.37%, and the FTSE 100 rose 0.12%. The euro was down by 0.18% against the dollar at 7:04 am CET, selling for $1.07149. In comparison, the pound lost 0.14% to go for $1.25860 at the same time.
Baha Breaking News (BBN) / JG
Happy hump y’al
Stupid link....
For gold investors, the current environment should make for the perfect storm.
War, global inflation, Covid after-shocks and deteriorating trade relations are the sort of frighteners that would normally provide a push towards the yellow metal, a unique store of value in troubled times.
Yet, after a spike in late February (marking the start of the war in Ukraine), gold’s price has slipped around 9% to trade at just a smidge over US$1,850 an ounce.
In a note, City broker Liberum points out that the Fed is the big depressant; this and the inverse correlation between the price of the gold and real yields.
So, its stance in the medium term is mildly bearish on the price of the precious metal as the American rate-setters, along with central bankers around the world, set about tackling inflation with hikes to the cost of borrowing.
Rather than hold gold itself, Liberum is a proponent of nabbing exposure via the equity market. Specifically, it has ‘buy’ recommendations on two stocks: Centamin PLC (LSE:CEY, TSX:CEE, OTC:CELTF) and Shanta Gold PLC.
On the former, it says shares are below its 98p ‘base case’ valuation (they are 82p each currently). The 112p price target, therefore, offers 37.5% ‘upside’ from current levels.
“Potential share price catalysts in 2022 include studies on underground expansion and production from bonanza structures, and airborne survey results,” Liberum said in its note.
The problem for Biden and Powell is how to win the mid-terms whilst continuing to screw the people.
Cue more inflation busting nonsense that will destroy the economy whilst they pretend they are protecting the 'recovery'.
PMs will probably take a hiding.
Etette
Unfortunately sentiment rules over optimism . I'm quite heavily invested but can see cey reaching new lows before any substantial recovery
Have to ask Iceman
….also remember that 73% of pi’s loose money, equates to the viable conclusion that there’s more idiots knocking around here than scholars!
Biden is currently in a meeting with powel to discuss inflation. Expect big words tomorrow and gold down again.
Since I wrote GDX fall is now in line with Centamin.
Berenberg came out again today with a buy rating at 114p. Pound dropped a whole penny against USD. GDX goes down just 0.5%. 16p at least is cash in the bank. The projected annual profit is anticipated to be over $154M which is the same as last year. The company also expects to replace its mined out reserves and resources over the past 12-18 months. The only way to look at this is that we are being offered a buying opportunity. The company is on a major support line. If anyone has a good relationship with the management and can get confirmation that production, solar plant implementation and drilling for R & R is all going as scheduled and costs are broadly in line with forecast, we would have nothing much to worry about.
Grim day today, the whole sector is pretty deflated.
Hope so razor....I've been waiting for my food for ages just hope it's not cold when it turns up, the best I can do with word play :)
78p in coming... GLA
A reasonable observation is that the sector is out of favour.
Fresnillo and Shanta are both also down 3 and 2% respectively.
It’s taking forever to cook but I believe the waitress will be along quite soon and we’ll all get fed.
I wonder what they would say about Centamin's largess?
https://www.msn.com/en-gb/money/companies/biggest-shareholder-of-car-dealer-pendragon-joins-revolt-against-bosses-inappropriate-3-4m-pay/ar-AAXTMn9?ocid=msedgdhp&pc=U531&cvid=0a30d53e3c9c4259bb0c29e8fe23a3cf
The down pressure seems relentless, down from 88 back to 80 in a week...try to stay positive but back at the 5 year low again...or 2 p above it as we made a new low
May 31, 2022
Locations and on-site images of our projects in the highly prospective Eastern Desert in #Egypt, where more than 100 hard rock artisanal #gold workings have been mapped with grades up to 100 g/t gold.
https://twitter.com/Altusstrategies/status/1531549449314508807
https://www.londonstockexchange.com/news-article/ALS/multiple-high-grade-gold-discoveries-in-egypt/15475337
Highlights: Multiple gold discoveries made across all four of the Company's Projects in Egypt
-------------------------->>>
The Twitter photos show some of the locals actively working these deposits - so it's not like Altus/Akh discovered anything themselves! The question is - as the locals are pushed out, what will be their response?
And, as Goldgnome discussed in one of his previous posts - will acquiring 'social license' include pandering to artisanals who've never paid taxes neither generate revenue for their fellow Egyptians?
@robbren58 - fundamentals of the company, present cash flows and % chances of improvement on current sub-par performance, current yield, growth prospects, geopolitical situation & stability of the gold price at current levels. Don't forget we had a takeover possibility at significantly more than the current price within the last 2 years. Good to see the management investing into the company now as well.
Send in Maverick
Taiwan says it deployed fighter jets to warn off 30 warplanes sent by China into its air defence zone.
The incident on Monday marked the biggest incursion since January.
It came days after US President Joe Biden warned China against invading Taiwan, and on the same day as a US official visited the island to discuss security with leaders.
China has ratcheted up the frequency of its air missions in recent months, claiming they are training drills.
Mmmmmmmm training drills?
If the company achieves what they say they are doing, we have only one difficult month before the big turnaround.