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Mr T I was suggesting that the big thing that would make Centamin come good is a higher gold price, rather than improvements in its output and costs which are rather limited. I was also suggesting that the rises because of events like Ukrine are often short lived and that I hoped this time the rise was partly because of economic events which we all believe should drive gold higher and might finally be beginning to do so. We shall see if indeed this gold pullback is temporary. Of course I am also sure that most of us would prefer a much better economy that didn’t raise gold, but most of us see the terrible economic situation that should at sometime make our insurance policy payoff
Russian army returning to barracks apparently which is great news for us all. Pog obviously retreating too but I'd rather not profit from war anyway. Centamin will come good on its own back given time.
I didn't know the Sun has developed some kind of mind readnig machine that can read Putin's mind lol
I have no idea why it goes up as the same percentage as gold when increasing in price yet falls at 3:1 ratio whatever gold price retreat does. Perhaps its a rush to sell by those who bought on the way up, but everybody tries to fit through the exit door at once.
According to the latest reports of British media, Russia is to attack Ukraine on the night of Tuesday to Wednesday, reported the tabloid 'The Sun'. Sources close to US intelligence say up to 200,000 people could participate in the invasion. Russian soldiers.
Tony do you think current share price weakness is linked to the decision of taking underground ops in house? Cannot understand why cey so cheap at the minute - if I had any money left I'd buy more and get my average down from 94 which is already super cheap in my view
I expect the world will change on April 20th when Centamin release their Q1, 2022 report, provided the company has managed to increase production as previously forecast.
Centamin having been pulling in the dosh and producing more by all accounts. This should be at least 100p. We have been done over just as the girls say in the Little Mix breakup song.
Hi Sotolo,
I'm sure we all agree that its by far preferable that Centamin will come good out of it's performance rather than because there is a risk of a nuclear war in Europe.
We have friends in Germany and its widely known across Europe that UK Governments ministers have been regarded as a joke by the Russians in the Ukraine negotiations, however the Russians do treat the German representatives with great respect and take their views seriously.
It was always going to be a case of wishful thinking on the part of those that popped in here hoping for a sudden meteoric share rise, but then had they obviously hadn't realised the severity of the loss of market confidence that the behavior of the previous management had brought about.
The BOD realise they are in "The Last Chance saloon" and Martin Horgan in many respects has Carte blanche" in order to turn things around and to be fair so far as the available news suggests he appears to be doing just that, look at Cowichans post ,some remarkable and measurable progress has been made at Sukari in the clean up operation which so far is well ahead of schedule!
Thinking back the reasoning for Centamin to embark on so many projects outside of Egypt in most respects is no longer valid, in fact quite the contrary would seem to be the sensible and certainly less risky option to follow now and for the foreseeable future.
I wonder if any of our short term traders had bothered to buy any Shoe Zone (SHOE)aim market
Just over a year ago?
Last year I was sitting in a pub in our otherwise run run down town center opposite one of their stores ,I noticed just how busy they were and the flow of shoppers was pretty constant, I watched the shop on several other occasions before deciding to go in.
Whilst trying on some £6.99 deck shoes I asked the assistant is she had been busy, she replied that they were always busy everyday, I bought two pairs of deck shoes for £10 and left.
Next day I bought in @61p and sold around a year later at £1.52.
Just luck maybe, or possibly taking the trouble to do some on the ground research helped?
Quite agree Steve, but then Americas presidents are really chosen and controlled by the shadows behind the closed doors, those with all the vested interests and money in keeping things the way the are which will ultimately destroy our planet.
So now they got Biden lol
I didn't want either Clinton or Trump , neither were fit for office,certainly the latter has proven that!
interesting call wildtiger. The USD money supply expands without limits. It floats on trust, which must surely be in short supply. If you think trust is well founded read on, and watch the disgraceful revelations now hitting the street in the US
The latest from the US about their former leaders ...
The 2016 Hillary Clinton campaign’s bogus Steele dossier of allegations against Donald Trump deserves its infamy in the annals of political abuses. But if a Friday filing by Justice Department special counsel John Durham is accurate, the creation of yet another Clinton-backed bundle of deceptions was no less appalling.
To sum up the special counsel’s argument in this case, an appalling abuse of private and public resources to gather dirt on Donald Trump did not turn up any dirt. So the alleged perpetrators just pretended they had found something significant and tried to persuade federal agencies that Mr. Trump had disturbing connections to Russians. Mr. Sussmann maintains that he is not guilty and deserves the presumption of innocence just like everybody else.
As for the political campaign that was paying the bills, was there anything that Hillary Clinton would not do to her 2016 opponent?
More at ...
https://www.wsj.com/articles/hillary-clintons-other-dossier-11644852226?mod=trending_now_opn_4
You trust the US Govt? Many wouldn't. Good luck
https://www.washingtonpost.com/world/2022/02/01/what-is-nato-treaty-article-five-russia-ukraine/
the gnome
Depends how much of the gold price is because of being a safe haven and Ukraine, and how much is beginning to catch up with increasingly negative real interest rates: if the latter the pullback may be short lived IMHO
Unfortunately gold is no longer the best safe-heaven asset, I personally rather hold US dollars than gold as a hedge.
Its good that the invasion wont happen, but bad for safe havens like gold when everything else goes back up. Ah well, will continue to hold.
Glad I sold my last lot this morning at 93.3 with a small profit. When I saw the Chinese confirmed they're not moving anyone out of their embassy in Kyiv that was a clear sign Russia won't invade
Already markets turned positive- at the beck and call of the Ukraine situation at the moment.
European exchanges were lower on Tuesday as market participants remained squarely focused on developments concerning the standoff between the West and Russia in Ukraine. Investors will also keep their eyes on Eurozone's GDP, employment, trade balance and economic sentiment data, all set for release early in the trading session.
The DAX declined 0.46%, London's FTSE 100 decreased 0.26%, and the CAC 40 lost 0.14% at 8:00 am CET.
The euro was 0.26% higher against the dollar at 7:59 am CET, trading at 1.13238. The British pound was flat compared to the American currency, going for 1.35309 at the same time.
Baha Breaking the News (BBN) / MS
3 hours ago 2 applicants
Metallurgist
Metso Outotec Marsa Alam, Al Bahr al Ahmar, Egypt On-site
Full-time
https://www.linkedin.com/jobs/view/2916774808/?refId=4USijEYQQ9uHhS3t8%2FdwrQ%3D%3D
------------------------------------->>>
Previously all I've seen of Metso involvement at Sukari was supplying new mill liners. Does this mean there could be processing plant expansion plans at Sukari? Or perhaps some different ores to be processed? Other??
I don't know about catching the monkey, feels like the monkey is making love to our sister while we apologies for the inconvenience sometimes
Despite the US entering a tightening cycle, Goldman Sachs noted that M2, a measure of money supply, is still growing at 13.5 per cent year-on-year which is more than double the pre-pandemic average.
“Should European interest rates go positive this year as our economists believe, the bid for euros would further weaken the dollar creating an even greater tailwind for commodities,” Mr Currie said.
Goldman Sachs pointed out that all base metals are in backwardation, meaning the cost of delivery today is higher than tomorrow, which has only occurred seven times in the last 50 years. Of the 23 commodities in the Bloomberg Commodity Index, this is presently true for 16 of them.
At a time when capital has never been cheaper due to low interest rates, it has never been more expensive to build infrastructure and equipment like mines, steel mills, or drilling for an oil and gas well.
The growing pursuit of ESG metrics that favour clean investments has also led to the valuations of companies in the green new economy becoming stretched to the upside at the expense of those operating in the old economy.
“Whether it is ESG metrics that discourage 'dirty’ capex, or windfall profit taxes that reduce cash flows, commodity producers’ ability to invest in future output is being constrained,” Mr Currie added.
....meanwhile, boosted gold prices as investors rushed to safe havens. Newcrest Mining rose 4.3 per cent to $23.7, AngloGold gained 3.5 per cent to $5.66. Evolution Mining leapt 7.9 per cent to $3.96, and Northern Star climbed 5.9 per cent to $9.0. Many of the other mid tier gold producers hiked by 6 to 8 %, so good day at the office!
Bonds and their ridiculously low yields are on the nose and staying that way. In Australia, thanks to the wonder of the dividend credits, most savers have little exposure to low yielding bonds, but for most of the pensioners in the rest of the world, so-called prudent regulation means they are heavily exposed to assets with a negative real yield, and are dependent on capital gains for their returns.
We love our strong dividend culture in the market, and will be betting against the USD, and upping the wager on gold. Why bet on a 2% yield on a bond, when you can get 5+% on a big 4 bank with capital appreciation.
Central banks around the developed world tipped to “change course very, very soon, very aggressively to realign themselves with the new reality.” Dragged out of their useless models, and into reality (again).
go gold and base emtals ...
the gnome
Looks like Egypt is doing it fairly stuff still, and into the future.
Egypt's annual urban consumer price inflation slightly accelerated to 5.9% year on year in December from 5.6% in November, data from the country's state statistics agency CAPMAS showed on Monday.
Around 30% of the population lived below the national poverty line even before the crisis (according to household survey results for October 2019–March 2020).
Longstanding challenges including sluggish private sector activity, underperforming non-oil exports and foreign direct investments (FDI), and the elevated government debt-to-GDP ratio (despite its significant reduction prior to the pandemic).
The high Oil prices and lack of tourism will create significant negative impact on the Egyptian economy. With interest on debt going up, its another negative.
So can understand the governments position in negotiating strongly. But they really should be trying to get more companies into to expand their gold industry, and lenghty delays in negotiations does not help this.
Ahmed Mohamed Abu-El-Naga Deputy Chief Mining Engineer at Centamin Egypt/Pharaoh Gold Mines
2h • 2 hours ago
The road to the top of Sukari Hill.
It's been one of the most significant moments so far to reach the top of the great mountain of Sukari.
for those who have been at Sukari before, they know how hard a job it. with thorough persistence and effort we finally made it to the top.
Many thanks to the whole OP team who worked so hard to achieve this goal and special thanks to the rock breaker operators who paved the way to the top.
to infinity and beyond ??????
#team #openpit #Sukari #gold #mining
https://www.linkedin.com/posts/ahmedabouelnaga_team-openpit-sukari-activity-6899038152204656640-KJdj
Any T/O will be dependent upon acceptable T&C's covering exploitation I would have thought.