Charles Jillings, CEO of Utilico, energized by strong economic momentum across Latin America. Watch the video here.
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Its no use trying to play the sexist get out of jail free card, the article isn't sexist the same would apply to any gender when considering the so far ineffectual and shambolic approach demonstrated towards foreign affairs by our present cabinet, the two hours travel would make no difference to defusing the Ukraine tensions, it would however be most beneficial to reducing carbon climate emissions.
Why not conduct the meetings by video, Skype or zoom, effective ,far less costly and faster!
Unfortunately Truss is a far from a competent Foreign Secretary,her diplomatic skills are around the same level as that of the rest of the cabinet, seriously lacking, or not apparent at all!
Truss is regarded as a joke by other countries and she is as ineffectual as the sanctions that she is preparing against Russia will prove to be.
When the US (Trump) decided to abandon the mess it had created in Afghanistan by pulling the rug out from under the feet of its allies and the Afgan people that sent a very clear message out to Putin that he could do what he liked because he would only face empty threats and ineffectual sanctions.
Putin is behaving just how Hitler did prier to the WW2 when took Poland first and then when he realised that he faced no serious effective resistance moved on the rest of Europe & the world.
Hi Cowichan,
Although I abhor Bristow's big game hunting hobby (Hunter has an overwhelming advantage) and I suspect the man to have narcissistic tendencies , I have agree he is absolutely right about wanting BOD & NED's to make site visits on a regular basis!
If only the Centamin BOD & NED's had taken the trouble to visit Sukari after the warning's of 2015 and 2018 they would have been aware of the failure to put in place fit for purpose waste management and most probably saved the $260 million clear up bill and the 60% reduction in the share price!
Equities in Europe traded deep in red during Tuesday's premarket after Moscow officially recognized the Donetsk and Lugansk People's Republics and Russian President Vladimir Putin sent "peacekeeping" troops to Donbas.
Additionally, HSBC Holdings plc announced on Tuesday that its total revenues for the fourth quarter of 2021 reached $12.6 billion, more than triple the amount for the same period of 2020.
The DAX traded 2.19% lower at 8:00 am CET. At the same time, the FTSE 100 declined by 0.93% and the CAC 40 dropped by 1.32%. The euro lost 0.10% at 8:01 am CET to sell for $1.13033, respectively. At the same time, the pound sterling declined 0.11% against the greenback to go for $1.35871.
Baha Breaking the News (BBN) / SP
- Bristow says Barrick is looking to buy copper assets and wants to focus on areas that some rivals find forbidding.
“These are clearly countries where we have a competitive advantage over traditional copper miners from the Western world that are too scared to go to those countries,” he said. “We are comfortable in the African environment.”
- Barrick aims to boost its gold production to 4.8 million ounces annually by the end of decade
- The company says it owns or has stakes in six of the 10 top gold mines in the world—defined as those with at least 500,000 ounces of annual production, a 10-year reserve life or more and below-average costs globally
“If you’re going to run a world- class business, you have to be global and Barrick is global,” Bristow said. “You can’t keep running back to the safe havens in the world. Some of the assets are not going to be in perfect addresses.”
- Operating in Africa, the developing world –and anywhere — means forging ties with political leaders and employing local people at the mines and as managers
* “In every single country in which we operate, I know the leader of that country personally—except for the U.S. I can pick up the phone and call them or send them a WhatsApp or email and they will respond to me because we have built a relationship.”
- Bristow, a swashbuckling South African who likes big-game hunting, keeps a punishing travel schedule, visiting each one of Barrick’s 17 global mines each quarter over a six-week period.
“We start in North America and go to Africa and then Papua New Guinea and then to Argentina and Chile and up to the Dominican Republic and come back to Toronto for the quarterly” results, he said.
** He wants Barrick’s directors to see the operations and holds two board meetings a year at a mine.
---------------------------------->>>>
*I wonder, does Bristow already have President Sisi's number in his phone?
**Also, I like the idea of holding board meetings at a mine site - as long at the BOD's fly commercial of course
Bristow must be the most informed & hands-on CEO in the mining industry if the above travel details are indeed true
https://www.barrons.com/articles/why-barrick-golds-ceo-is-looking-to-boost-its-copper-business-51645281013?redirect=amp
Gold is going to 2500usd ... MO.
Johannesburg, 24 January 2022
Announcement relating to the proposed acquisition of the Santa Rita and Serrote mines in
Brazil : On 26 October 2021 Sibanye-Stillwater announced that it had entered into purchase... 100% of the Santa Rita nickel/ Serrote copper mine, both located in Brazil, for a cash consideration of US$1.0 Billion
The Company has been advised a geotechnical event occurred...
Accordingly Sibanye-Stillwater, has today given notice of termination...
(And the sellers reply)
Response to Sibanye-Stillwater’s termination of agreement to purchase Brazil assets
Appian notes Sibanye-Stillwater’s surprising announcement dd. 24 January 2022, and believes there to be no basis for Sibanye-Stillwater to lawfully terminate...
The geotechnical event that Sibanye is referencing amounts to a localized fracture that occurs in normal course open pit operations. To remedy the condition of the area in question, some amount of additional waste will need to be mined earlier in the mine plan...
...which equates to less than 1% of the mine’s volume over a 34 year mine life. Appian does not agree that this constitutes a material adverse event.
Appian is currently assessing all of its legal options and will take all necessary action to enforce its legal rights.
------------------------------->>>>
The situation is not unlike what happened at Sukari - i.e. a 'localized fracture' blooming into a sudden imperative to expedite waste clearance -
Makes me wonder if perhaps the Brazilian locals didn't want to be acquired by a SA company -
Regardless Appian stands to lose, they being the intermediate between parties
She's the Foreign Secretary and needs access to the outside world through official channels at all times.
That isn't going to be possible on commercial transport with the encrypted comms they use. Such a non story, it's embarrassing it is a story and feels a bit sexist as was never an issue when we had male Foreign Ministers.
Anyways gold looking good and still so undervalued. GLA.
Liz Truss has once again taken a trip by private jet – this time to a destination accessible within two hours by direct train.
As social media users were quick to point out, flying by private jet for the meeting was not strictly necessary considering a direct train service runs between London and Brussels.
A Eurostar journey typically produces more than 90 per less CO2 than an equivalent flight.
The Independent has contacted the Foreign Office for comment.
Ms Truss hit headlines last month for flying by private jet to Australia.
A Eurostar journey typically produces more than 90 per less CO2 than an equivalent flight.
The Independent has contacted the Foreign Office for comment.
Instead of travelling from London to Sydney on one of the daily Qantas departures, Ms Truss flew the 22,000 miles to, from and within Australia aboard the private government Airbus A321.
The aircraft type holds 235 passengers on easyJet flights, but the government’s version is kitted out with a VIP interior – including lie-flat beds.
The mission to Australia and back burnt an estimated 150 tonnes of fuel and generated nearly 500 tonnes of CO2.
https://uk.yahoo.com/news/liz-truss-slammed-taking-private-141309132.html
https://www.wind-watch.org/news/2022/02/21/wind-farms-were-paid-not-to-generate-half-their-potential-electricity/
Fraudsters are exploiting the cost of living crisis by sending text scams that prey on households facing soaring energy bills, banks have warned.
UK Finance, the banking trade body, urged people to be vigilant after noticing a rise in the number of “smishing”, or SMS phishing, which are scams that impersonate energy companies. Recipients are told that their energy supply has switched to a new provider and that they should set up a new direct debit.
It comes as 27 energy companies have gone bust since August on the back of soaring wholesale gas prices, meaning millions of households have been transferred to new providers. Household energy bills will rise by almost £700 this year after Ofgem, the energy regulator, said earlier this month that it would lift the price cap by a record 55 per cent to £1,971.
'Ofgem would never sell you energy'
Conclusion: Gold Bullish momentum remains strong!
Overall, gold continues to look promising here as the bullish momentum remains strong. Hence, Gold is probably on the way towards US$1,950 and US$1,975, with a slight chance for an overshot to US$2,000. But of course, given the rather overbought daily chart, the risk/reward is not that good anymore. Silver and many of the smaller mining stocks, however, might still offer a chance to play the ongoing rally over the next few weeks.
Once gold tops out in spring, expect a big pullback. Maybe even back towards the higher trending 200-day moving average (currently at US$1,808) at some point in midsummer. But that is all somewhere in the future. For now, the bullish momentum remains strong.
Overbought?
If more people are buying and their is a shortage of physical bullion then how can gold be overbought?
What stupid terminology, just illustrates that is all a big game to churn the indices up and down for the convenience of those who run the market racket!
Wind farms have been paid to refrain from producing up to half of the electricity they are capable of generating, according to research that led MPs to warn that "inappropriate" decisions on wind power were "forcing excess costs onto consumers".
An analysis found that, in 2020, three large wind farms in Scotland were paid a total of £24.5 million to fail to produce about half of their potential output.
Researchers said the "constraint payments", which are ultimately added to consumer bills, were being fuelled by a high concentration of onshore wind farms in Scotland often leaving the electricity grid unable to cope on windy days.
The Renewable Energy Foundation, a charity that publishes energy data, said the problem would continue until "until there is more than sufficient interconnection between Scotland and the centres of demand in England". The analysis comes ahead of an expected spike in electricity bills.
Craig Mackinlay, who leads the Net Zero Scrutiny Group of Conservative MPs, said the constraint payments were an example of unnecessary costs being charged to consumers.
A government spokesman insisted the payments were "not a viable income stream for onshore wind developers", but a new analysis by REF found some individual wind farms were agreeing to not produce up to half of their potential output in order to avoid overwhelming the grid.
Excess costs ‘forced onto consumers’
In one case, £7.7 million in "constraint payments" handed to the operator of a 23-turbine scheme in Scotland in 2020 led to the wind farm deliberately failing to produce 51 per cent of its potential output. In another, SSE, the operator of the 33-turbine Strathy North wind farm in the Highlands, was paid £5.9 million to avoid producing 48 per cent of its capacity.
Last year, which saw particularly low wind speeds, the 59-turbine Dorenell wind farm in Moray, owned by EDF Renewables, was paid £1.5 million to avoid producing a total of 179 gigawatt hours – 35 per cent of its potential output.
Dr Lee Moroney, REF's principle analyst, said: "When wind farms have been so poorly sited that they are discarding up to 50 per cent of their annual output, the public has every right to ask how on Earth these projects came to get planning permission."
Mr Mackinlay said turbines appeared to be constructed "in inappropriate locations, forcing excess costs onto consumers and harming our precious natural heritage in the process".
More renewables ‘will protect customers’
A government spokesman said: "Gas is expensive and wind power is cheap, so we need more renewables to protect consumers. Constraint payments remain the most efficient option for National Grid to keep Britain's lights on, and are only used when there is excess supply."
A spokesman for EDF Renewables said it had to respond to National Grid's constraint requests "in order to manage the system and keep the lights on".
https://www.lse.co.uk/ShareChat.asp?ShareTicker=CEY&share=Centamin-PL
Thank you Rebees!
Some may find this of interest. - Hope you found 'The paradigm of money' of interest.
https://www.midastouch-consulting.com/gold-chartbook-20022022-gold-bullish-momentum-remains-strong
live FTSE prices
https://www.ig.com/uk/indices/markets-indices/ftse-100
Equities in Europe traded higher during Monday's premarket trading as investors awaited the latest PMI data reports.
Meanwhile, Russian and French Presidents Vladimir Putin and Emmanuel Macron agreed on the need of finding a diplomatic solution to the Ukraine crisis. Additionally, the United Kingdom was set to declare the end of obligatory self-isolation COVID-19 rule.
The DAX jumped by 1% at 8:06 am CET. At the same time, the CAC 40 increased by 0.68%, and the FTSE 100 advanced by 0.51%.
The euro gained 0.39% to the dollar to sell for $1.13693 at 8:01 am CET. At that moment, the pound sterling also rose 0.21% against the greenback to go for $1.36260.
Baha Breaking the News (BBN) / SP
Happy Monday y’al
Quit agreePaul,
The court case has been in limbo whilst the SCC are still considering if they will ratify Law 32
They rejected LAW 32 if you recall and were then sent away and asked to reconsidered their decision.
That no doubt put the SCC's nose out of joint, so they most probably chucked the papers to the bottom of the pile, I doubt they will ever resurface in the next decade!
Shame because the court case was nearly over and them Law 32 gave the judiciary the chance to sit on the fence and not commit themselves!
What about the outstanding $30million fuel subsidy that is in dispute, that would be handy now, but its been going on for so long that it could have gone through the international court and been settled by now, but our BOD preferred to wait for the Egyptian courts, OK if you have a 100 years to waste I suppose!
It seems that the courts priorities are dealing with anyone who disagrees with Sisi, or that's what I was told.
https://uk.practicallaw.thomsonreuters.com/3-500-5425?transitionType=Default&contextData=(sc.Default)
When you think about it Mr T Erma/ Egypt itself should be wanting to get Centamin/ Sukari and the other parcels of land, up and running at a high capacity, as they are getting a big chunk of the profits.
We have not heard anything about the court case for a while. Have many years it that now? 9?
Maybe it has never been settled to deter any take over bids.
Hi Mr Bond,
I have no doubt EMRA want Sukari put back on track, what a pity they didn't show a bit more interest in the past so it never came off the track on the previous occasions because those running it weren't doing things properly, it may have avoided the present major derailment!
Possibly the lesson to be learned is that former police captains and the army don't really have a thorough understanding of proper commercial gold mining methods?
Some may find this interesting.
https://theparadigmofmoneyfilm.com/andrew-maguire/
Hi Mr Bond,
Very fair observations and comments, thank you.
In the meantime I think especially in today's world run by those in power on the basis of greed deceit,unfairness and lies, so much could/should have been learned from Ethos practiced by the native American tribes, they seemed to have the right values!
"It does not require many words to speak the truth!"
"I am tired of talk that comes to nothing!"
"Good words do not last long unless they amount to something!"
Chief Joseph, or Hin-mah-too-yah-lat-kekt, was the spearhead of Wallowa band of ‘Nez Perce’, a primitive Red Indian native tribe of America.
He led the revolt against the United States federal government, which forced them to leave their ancestral lands
It seems the ripples from Cowichan's pebbles are achieving ever wider resonance. - Significant players in the space, now await with interest/anticipation. his next posting/revelation. - Centamin clearly don't like it, but it's their own fault, they have brought it upon themselves. - Cowichan is effectively demonstrating that shareholders are not just simple, subservient, cannon-fodder.
One interesting side effect of posing questions to Centamin via LinkedIn has been the associated metadata (who read what, where they work, etc.)
Apart from the usual suspects having read and reread (some of the number of views is crazy high) the most common organizations have been who you'd expect i.e. the EMRA, Capital, Buchanan, Barrick, Centamin, etc.) but there have been a few outliers - most notably from their sudden arrival & volume of hits is Rio Tinto
I'm not invested in Rio so I haven't typically read their news or quarterlies (except the recent brouhaha re: bullying/sexism) so I checked them out.
Apparently they are making a big push into reducing their carbon footprint and other ESG initiatives - solar power to play a big part. One of their fancy charts shows the sunny Egypt region which they are apparently keen to exploit for said carbon reduction efforts.
Given Rio Tinto is part owners with Turquoise Hill at Oyu Tolgoi they actually do produce a fair amount of gold already as a by-product of copper production. Why they are looking at my Centamin posts en masse is anyone's guess - but perhaps Egypt is now an attractive destination given you could essentially produce copper & gold from any number of the concessions Centamin has been awarded - and with the right planning - using a lot less fossil fuel from day one.
Mr Tibbles-
Bristow would like Cote De Ivore. IMO. So would others. At the right and fair price let it go-
Egypt Barrick would find themselves with problems.
Remember the option that was given to Sami many years ago, one option at a time,not total control of more and more concessions.
EMRA is mlitary, no matter what changes in Government the Militaries strengh is not diluted.
IMO.
This may be of interest to retail investors like us who want to heard , although obviously of no interests to short term traders.
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We want to ensure that shareholders have their proper say as owners of the businesses in which they invest. We campaign on both specific company issues and on individual investors’ wider concerns. We have had notable success in delivering change at a number of companies and have influenced government policy and legislation.
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We won’t shirk from tackling companies, the Government or other institutions if we think you are not being treated fairly.
https://www.sharesoc.org/
Fair comments Mr Bond, I agree we all want the Sukari put back on track and since the changes to Egyptian mining law Martin Horgans strategy for expansion in Egypt in preference to what may now be more risky environments and under less familiar jurisdictions seems to make sense.
That said there are those that remain on the BOD & NED's who must bear considerable responsibility for the unnecessary pain the company and share holders are new feeling and they should resign or get pushed on their way.
I have every faith in Martin Horgan and I can understand his reluctance to get involved in raking up the past and also his preference get to work from a clean sheet with his chosen team, but in the meantime I really don't want the likes of Bristow to hijack the company for a pittance.