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On the daily chart, even with yesterday’s action, the short, medium and long-term averages are all sloping up and in golden alignment. The trend is up.
On a weekly chart the averages have all coiled and converged, they are starting to slope up and gold is starting to break out.
On the monthly chart, we have the most beautiful of cup-and-handle set-ups formed over 11 years. This is widely agreed to be a bullish price pattern.
Moves to Canada to work for Barrick (as previously noted)
https://www.facebook.com/Hemlo.Barrick/photos/a.109650610693267/458730072451984/
Jan 11, 2022
Barrick Hemlo is thrilled to announce that we are building our Geology team.
We would like to welcome two new members Hebert Oliveira and Christopher Le Cornu!
Also, said employee just checked out my LinkedIn posts regarding Centamin/Barrick employee swaps, HiSeis survey, pit wall incident, etc.
Wonder if former Centamin employees can still face consequences for shall we say 'questionable' actions and/or sharing privileged information?
"Our policy is to treat all shareholders equally. Therefore, we do not hold discussions with analysts nor large institutions. Whenever possible, also, we release important communications on Saturday mornings in order to maximize the time for shareholders and the media to absorb the news before markets open on Monday."
------------------------->>>
My Thoughts:
The rather new phenomenon of ESG manifestos - or the practice where companies toot their horns about how 'woke' they are - doesn't hold a candle to that short & simple Berkshire policy
Such a policy is the necessary foundation of shareholder engagement and accountability upon which all ESG frameworks can then be built
PS --> Centamin BOD's - this would be a HIGHLY beneficial policy to adopt if you are serious in regaining shareholder trust
https://www.cnbc.com/2022/02/26/read-warren-buffetts-annual-letter-to-berkshire-hathaway-shareholders.html
Again ,very interesting.
Thanks Tibbs ,now subscribed.
I totally agree with Andrew, and no it is not diffivcultto understand. The system is crooked.
Live from the Vault, Andrew Maguire digs deep into the current geopolitical escalation in Ukraine, thoroughly explaining the impact on the gold and silver market.
The precious metals expert drills down into the widening divide between the BIS and the US policies, weighing up the physical and paper gold markets. Are there enough ingredients for the bullish gold and silver rally to unfold?
00:00 Start
01:25 Basel III & paper vs physical gold battle
09:45 What is Andy seeing in the market right now?
14:20 The stair-step approach for buying gold and silver
20:00 Geopolitical drivers & their effect on the gold market
24:00 Silver prices vs. Bank of America derivative position
31:15 The BIS and the US divide
https://www.youtube.com/watch?v=IMTqyphXaKA
Latin Americans holding Casino Chips as a hedge against inflation!
Feat. Atlas Group partners & Kinesis’ Head of Operations in Latin America
In this week’s Live from the Vault, Andrew Maguire is joined by three experts in the LatAm precious metals space - Alejandro Kapetanakis, Carlos Alfredo Lao and Martín Aguilar - to contemplate spiralling inflation in the region.
As precious metals industry leaders in Latin America, the trio enlightens Andrew Maguire on the global scale of the inflation problem and presents physical gold as the stable monetary solution for local citizens.
00:00 Start
02:35 The hyperinflation in the Latin America region
05:15 How close are Panama and America?
09:15 The monetary solution for Latin America
13:35 Being your own central bank
15:00 Why Atlas Vaults are located so close to America?
17:00 The importance of tangible assets! Carlos’ experience in Greece 2014
21:05 Underbanked, unbanked & underpaid
22:00 A universal solution for which everyone qualifies
24:30 What is the future of money in South America?
28:45 Martin Aguilar's final words to the community
https://www.youtube.com/watch?v=jiuV-xU9Po4
When they apply basel III requirements on banks is when it will stop if they implement it.
Comex leverage rates paper to gold 20:1 2011, 54:1 2013, 542:1 in January 2016. I read somewhere on Kitco comments of someone saying it was now 15,000:1 as we leave behind the pandemic a few months back.
When will it stop?
Today is Gold Options renewal Day.
But a Commentator on Kitco predicts the same for the rest of the year.
Due to Trading and selling of Gold Paper Futures.
l
Just a thought: - I have a feeling we might see some 'Default' news breaking. - The volatility in Gold/Silver is indicative of a battle being fought. - IMO -
What reason why this down so much when gold up?
The avergae punter maynot keep track of the strategic assets of nations ... worth a look and a thought ,....
Metallic minerals?
7th place in the world in iron extraction: 39 M tonnes and 2.4% of global output (after Australia, China, Brazil, India, Russia and RSA)
8th place in the world in manganese extraction: 651 thousand tonnes and 3.6% of global output (after RSA, Australia, China, Gabon, Brazil, Ghana and India)
6th place in the world in titanium extraction: 431 thousand tonnes and 6.3% of global output (after China, RSA, Australia, Canada ? Mozambique)
2nd place in the world in gallium extraction: 9 tonnes and 2.9% of global output (after China)
5th place in the world in germanium extraction: 1 tonne and 1% of global output (after China, Russia, USA and Japan)
Non-metallic minerals
6th place in the world in kaolins extraction: 2,4 M tonnes and 5,9% of global output (after China, USA, Germany, India and Czech Republic)
10th place in the world in zirconium silicate extraction: 26 thousand tonnes and 1,9% of global output (after Australia, RSA, China, Mozambique, Senegal, USA, Kenia, India and Indonesia)
8th place in the world in graphite extraction: 13 thousand tonnes and 1.3% of global output (after China, Brazil, North Korea, India, Russia, Canada and Madagascar)
Mineral fuels
13th place in the world in power plant coal extraction: 18,9 M tonnes and 0,4% of global output (after China, India, USA, Indonesia, Australia, RSA, Russia, Colombia, Kazakhstan, Poland, Vietnam and Canada)
12th place in the world in coking coal extraction: 5,2 M tonnes and 0,5% of global output (after China, Australia, Russia, USA, India, Canada, Mongolia, Kazakhstan, Poland, Mozambique and Colombia)
10th place in the world in uranium extraction: 1 tonne and 1,4% of global output (after Kazakhstan, Canada, Australia, Namibia, Niger, Uzbekistan, Russia, China and USA)..Uranium source for Europe, sounds good? Low carbon..etc ...
In recent years, the Government significantly improved and liberalized the system of granting permits for extraction of minerals. Moreover, the State Service of Geology and Subsoil of Ukraine presented an Investment Atlas of Subsoil Management, which comprises over 140 fields to be set for electronic auctions in the nearest future.
Great weather for natural resources, oddly enough
best
the gnome
Raining cats and dogs in Brisbane. Couldn't even see the road that I was driving on...LOL
The other weather is great for gold and certain real assets ...
“There have historically been few asset classes that have been effective hedges against geopolitical risk, although gold has been one of them, along with the [US] dollar.” (and we all know about the Us$ ? ..."here a $, there a $, everywhere a $, old Macdonald had a farm ... etc )
Gold spurted higher to trade at levels not seen in more than a year, and has added 7 per cent this month.
US Federal Reserve officials indicated on Thursday that the central bank would likely press ahead with an interest rate rise at its March meeting, despite any potential hit to the global economy from Russia’s military action in Ukraine. and what would you expect, totally out of tune ...
Sanctions imposed by Western powers so far have avoided gas exports, given their strategic importance to Europe, although Germany decided it would cancel the certification of the Nord Stream 2 gas pipeline, which circumvents Ukraine...nearly always a bit of oil and gas in the mix of any conflict?
The combination of tight inventory and low spare production capacity across the commodities complex means small disruptions could have outsized impacts on prices in the near term, Goldman Sachs analysts warned.
AND HOW WOULD YOU GUESS IT? ! Ukraine has extremely rich and complementary mineral resources in high concentrations and close proximity to each other. The country has abundant reserves of coal, iron ore, natural gas, manganese, salt, oil, graphite, sulfur, kaolin, titanium, nickel, magnesium, timber, and mercury.
Could it solve a lot of Europes issues about accessing natural resources? They do not want to mine in their own backyard. Dirty stuff. We are developed nations with civilised peoples. And they cannot complete against China in Africa.
the gnome
Major indexes in Europe traded higher in the premarket on Friday amid the ongoing deterioration of the situation in Ukraine. European leaders have continued to condemn Russia's attack on Ukraine as more sanctions are applied.
The DAX gained 1.44% at 8:09 am CET, while the CAC 40 added 1.42%, and the FTSE 100 rose by 1.05%.
The euro was flat against the dollar at 8:08 am CET, selling for $1.11989. In comparison, the pound grew by 0.18% to go for $1.34140 at the same time.
Baha Breaking the News (BBN) / JGA
Have a peaceful weekend y’al
Pretty good there so far Bob- recovered to 1915 as I type, so could get there as Asia and Europe uptick on futures(nearly always follow US), although US futures back down a little.
We are a stock so rise in FTSE generally helps CEY and sentiment on gold direction impacts mostly- yesterday at close was about 1920 but on downward trajectory, now is only 4 off this and on an upward trajectory... for now...
Choppy times though and not easy to trade it- sometimes, like with my other stocks, I simply hold in extremely choppy times- you can lose on spread when trying to second guess, plus all my feeds I know are crucially slightly behind (99.99999% of people's are- that's the market).
Golf tee off at 08:00 for me today, GLA today.
Some good points Cowichan. When the pit wall fails they obviously have to change their mine plan immediately (all hands on deck, think panic), and depending on whether what "fell in", is ore or waste or of intermediatry value, it can have different effects on AISC, head grade etc. Lets just say things are muddied and mixed somewhat. They would announce the new plan, which is what they did in their presentations including the Jan 2022 presentation. Investors should look at the ounces produced prediction, and predictions on strip ratio, AISC's etc. This is what dicates the margins, profitability etc. .. as well as the price of gold (!!, anyone got it right so far?)...
I like the figures they present, and this is what they will be held to account on. Slide 24 on the Jan presentation is one to look at. This year they are predicting higher AISC, and thank goodness for the global instability (sad comment), the gold price could exceed the cost increases, and the margins could be healthier than predicted. After, 2023 on, gut feel is CEY will be a cash cow again.
Very interested in the reource to reserve conversion underground, of 45%. I am ot sure what the assumption is here, but I think there are a number of large mining companies who might seriously disagree with this conservative assumption.
Gold, no debt, no hedge, no royatlies, no streaming with a healthy social license to operate, is a great place to be.
I hope the CEO is getting soid support from his Board of Directors. I still think they need to some real experience depth on the noard, and now would be a great deal. Real exploration knowldege and experience, real open pit and underground mining experience. Be great time for a coup I think, to many free lunches
best
the gnome
Watching gold over many years (sadly almost a hobby) there are 2 or possibly 3 trigger investors in the mix. The first are the short termers possibly milliseconds on a repetitive basis scalping a fraction percentage , you need the algorithm and technology to compete at this level. secondly the very wise traders operating on head levels and taking both short and long levels on an averaging basis hoping for a 51+ plus position, and the long term trader operating on geopolitical and general market information. On that basis sectors 1 and 2 will cause wild fluctuations whilst sector 3 will underline the base commodity price. This is what we are seeing now. The underlying sector will average out and an average will arise whereby the merry go round will occur again from that base. Neck on the block gold at about 1928 -35 tomorrow.
However dont bet the house on it as just my amateur view and a bit of light thought in these dire times.
Bob
All good points.
Yes, the board include people present when previous management made bad decisions. Guess I'm happy with current management (why I stayinvested) until I see a mis-step.
Gold has stopped dropping for now seems to be recovering a bit (fingers crossed, touch wood)- a good proxy is Barrick and newmont on US indices - they are down but off their earlier lows. Futures are up indices so good for other stocks- let’s hope this holds and gold keeps climbing back- the nights are long…
Will probably be a harsh day tomorrow...cey loves going down far more than going up
What a turn around...over 3% up to over 1% down in less than 8 hours
On the day when WW3 is being talked about, gold and silver are now underwater on the day. - I think this phenomena says it all.
Mr Blofeld wins again, moreover, he can't be defeated. - Is it any wonder that World-Wars are on the agenda.
In the title!
Many thanks to Cowichan for highlighting the seismic survey. I've enjoyed following the links and looking at the company and other case studies. I was a researcher into seismic rock properties for about 10 years and their applications to interpretation of borehole and surface seismic surveys.
My take on what I've read:
The survey undertaken ( under previous managent) was well designed as a test of the methods (by HiSeis). Representative rock types were collected and seismic properties measured. 2-d lines over known geology were collected and the seismic response 'inverted' (technical term) into rock properties. The test showed that imaging was good, and inference about rock types consistent with reality.
Management decided not to go to a (expensive?) 3-d survey, which is likely a reasonable decision. Given the need for direct drilling to prove reserves, it is likely a reasonable decision by the new management to prioritise the current drilling and put any 3-d imaging on a back-burner.
Or they might be trying to pull a fast one on investors ... I don't get that impression, but I might be an innocent about company politics.
Thanks for the input Softrock!
Your back of the envelope figures are helpful - but would be all the more helpful if Centamin provided the figures.
What if it only adds 40k ounces per year extra - or 30k ounces - or less?
What if the waste clearance could have been undertaken albeit at a slower pace but far cheaper using Centamin's own fleet? What would the cost comparison/advantage look like?
Shareholders should be privy to real data points. But alas we are kept in the dark.
Trusting Centamin's BOD to do the smart thing hasn't been a winning bet as the drip, drip, drip downward flow of the share price proves.