Gordon Stein, CFO of CleanTech Lithium, explains why CTL acquired the 23 Laguna Verde licenses. Watch the video here.
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From July to December 2022/23, the Suez Canal contributed 2% to Egypt's GDP. All of the investments implemented in the Suez Canal are public. The implemented investments in the Suez Canal increased by 25% YoY to hit EGP 12 billion in H1 2022/23, compared to EGP 9.7 billion in H1 2021/22.
I wonder how important Suez canal revenues are to the Egyptian economy. They must be badly hit by the diversion of shipping round the Cape.
Major European indexes rose in Wednesday's premarket trading as investors analyzed multiple corporate earnings, including reports from HSBC Holdings plc and Rio Tinto Group. Additionally, market participants also awaited the release of the latest Eurozone consumer confidence data, which is scheduled to be published later today.
The DAX lost 0.07% at 8:16 am CET, while the CAC 40 and the FTSE 100 traded flat. On the other hand, the pan-European Euro Stoxx 50 rose 0.13% at the same time.
The euro and the British pound were flat against the dollar at 8:17 am CET, selling for $1.08091 and $1.26275 at the same time.
Baha Breaking News (BBN) / RR
Happy hump y’al
Gold currently $2030.61
Hehe very true MrBond!
As I’ve said before, crypto mining will evolve to use more and more and eventually virtually zero issues for the the environment compared to other currencies- starts with solar power and so on and the the amount of power to resolve the transactions with is increasing exponentially with lower footprints.
The world needs currencies and electronic ones at that.
Whereas getting gold &&&&’s the earth no question.l, and a lot of it is just used for for personal vanity.
Feb 20,2024 (Bloomberg) -- Egypt is betting that an agreement with the IMF to resolve a foreign currency crisis will help it settle dues it has run up with foreign oil companies.
“They are long term strategic partners. They are coming on a long-term basis,” Minister Tarek el-Molla said in an interview in Cairo, referring to the firms that are owed payment. “I would not tell you that they are happy, but they would accommodate or would understand and would be patient for some time.”
El-Molla didn’t disclose the value of the arrears but said it will be sorted after the Washington-based lender and Egypt sign a deal. “This is something that we are addressing and that has a priority and will definitely be solved after signing with the IMF.”
Egypt has been in a similar crunch before when debt to foreign oil companies piled up after a 2011 uprising, hitting $6.3 billion at one point. It took years for the country to erase that debt.
Separately, the country’s gas production fell to 5.5 billion cubic feet a day, the minister said, citing natural declines at fields. That’s the lowest level in years according to Bloomberg calculations. The country, which exports its spare gas supplies mostly to Europe as LNG, may be forced to suspend shipments again in the summer to meet local demand.
https://www.bnnbloomberg.ca/egypt-bets-on-imf-deal-to-settle-its-dues-to-foreign-oil-firms-1.2036879
---------------------->>
Expect electrical power cuts to continue & grow longer throughout 2024 - better keep the heavy fuel generators in good working order CEO Horgan
I can understand the frustration and boredom on this Bulletin Board, with no Centamin news, but it is not very GREEN, ,.
The hot air produced, from discussions increases the chances of disastrous increase in the worlds temperature , ;-)
Lot's of people the world over care Steve, apart from those who are self centred and selfish.
The surge in the crypto market is comparable to the gold rush. Yet, this exciting market has a hidden dark side. Mining cryptocurrencies can have major environmental impacts on climate, water, and land, according to new research by United Nations scientists.
Bitcoin is the most renowned and popular cryptocurrency. This motivated the UN scientists to evaluate the environmental impacts of Bitcoin across the world by looking at the activities of 76 Bitcoin mining nations during the 2020–2021 period. The results are shocking. In addition to a substantial carbon footprint, global Bitcoin mining activities have significant water and land footprints.
https://unu.edu/press-release/un-study-reveals-hidden-environmental-impacts-bitcoin-carbon-not-only-harmful-product
Cryptocurrency mining is an extremely energy-intensive process that threatens the ability of governments across the globe to reduce our dependence on climate-warming fossil fuels.
If we do not take action to limit this growing industry now, we will not meet the goals set forth by the Paris Agreement and the Intergovernmental Panel on Climate Change to limit warning to 2°C.
https://earthjustice.org/feature/cryptocurrency-mining-environmental-impacts
Who cares Mr T.
Trade gold if you want to, trade BTC and other crypto if you want to. I don’t compare them but if I did, they do not compete in my world they complement.
You can buy and sell massively high value items in an instant with BTC and other crypto’s, gold is massively slower process, BTC and crypto’s are invisible, gold is not.
BTC has risen in value over 3 times in past year, gold has not. Total crypto value now only about 1/6th of that of gold.
To get gold you scar the earth.
Gold has been and around for 1,000s of years, crypto and BTC is new by comparison.
Gold has intrinsic value. Ductility, conductivity, corrosion resistance, or appearance. The properties of gold give it value, we need it in a lot of applications. BTC having no intrinsic value is the same as stocks or paper money: they don't have any.
Comparison of the similarities and differences between gold and bitcoin.
Similarities:
Liquidity: Both have liquid markets where fiat money can be exchanged for them.
Divisibility: Both are divisible into smaller quantities.
Scarcity: Both have limited supply thus they act as a hedge against inflation.
Correlation with other financial markets: Both offer a hedge against equities due to their low correlation with the stock market.
No interest: Bitcoin and gold pays no interest. Instead, they can be valued based on the opportunity cost for cash interest.
Retrieving method: Gold and Bitcoin come into existence through the processes of mining, in contrast to paper currency which can be freely printed.
Differences:
Intrinsic value: Bitcoin has no intrinsic value, its value is dependent on market forces. Gold has historically been used as jewellery or for industrial applications.
Scarcity: Bitcoin’s supply is halved every 4 years (ends at 2140), gold is being mined every year. To date, 18.6 million Bitcoin has been mined out of 21 million total supply.
Security & control: Bitcoin is not controlled by anyone including the government. however there are security issues as the infrastructure to ensure its safety is not yet in place.
Storage: Bitcoin does not need storage and insurance thus enabling investors to save on these costs, unlike gold.
Transport: Bitcoin is portable and near frictionless to send and receive. It can be sent from anywhere to anywhere in just seconds as long as you have your keys.
Market value: Total market value of gold supply > Total market value of Bitcoin supply
Volatility: Bitcoin is more volatile as compared to gold.
Market liquidity: Gold’s daily trading volume is much higher than that of Bitcoin.
The price of precious metals climbed on Tuesday as burning tensions in the Middle East appeared to increase appetite for safe-haven assets.
Specifically, the price of palladium and platinum rebounded to their highest level in a little over two weeks after the largest producer of platinum group metals Anglo American Platinum Limited predicted metals' production in 2025 and 2026 to remain flat at 3.3-3.7 million ounces. Last year, refined metal production was down by 1% to 3.8 million ounces.
Palladium jumped 2.30% to sell at $958.89 per ounce at 9:29 am ET. Platinum rose 1.43% to $915.63 per ounce. Silver gained 0.69% to trade at $23.15 per ounce, and gold added 0.59% to $2,029.63 per ounce.
Baha Breaking News (BBN) / AB
As you are so knowledgeable on the subject Mr T, would you please educate me (and any others who wish to gain from you extensive understanding of such matters) how precisely you can arrive at an intrinsic value for gold as opposed to the other instruments you seem won’t to deride?
Hi Paul,
Had Basel 3 not been implemented then quite possibly the POG would have been lower than its present lever, so yes it has helped to some extent in stabilising/supporting the POG, albeit not as much as may have been hoped for.
The establishment tried to suppress the rise of the so called peoples crypto curries and when that failed those that control the markets have simply taken most of it over anyway by creating ETC crypto/trading funds enabling them to take back control and will be making even more profit out of something that doesn't have any intrinsic value.
So why trade in real gold when the alternatives without any intrinsic value are easier to control and offer even bigger profits in the short term
Then the unexpected world events such as a 2 year pandemic lockdown followed by escalating wars/ conflicts in Ukraine, Gaza, Yemen,and other West African States, higher inflation Nigeria & Argentina now around 250% and rising brought about because of a world reserve currency that is sustained by artificially high by FED manipulation and Wall Streets and London's unfettered paper trading on the futures commodities markets with the additional increased transportation costs due to excessively high oil prices and transportation cost's due to conflicts making basic commodity prices higher, even unaffordable to some
Also issues such as this
"It would also allow the Kremlin to consolidate control of Wagner’s business network in Africa, including potentially lucrative mining interests, following the death last year of the group’s founder Yevgeny Prigozhin," the publication writes.
https://www.pravda.com.ua/eng/news/2024/01/30/7439536/
https://www.scmp.com/news/world/africa/article/3250377/russia-hires-its-own-africa-army-succeed-wagners-mercenaries
https://ctc.westpoint.edu/after-prigozhin-the-future-of-the-wagner-model-in-africa/
Try listening to the BBC World Service,it was set up for times like this and there's coverage that you don't hear on the daily mainstream channels, or even see covered in most mainstream media.
https://www.bbc.co.uk/programmes/p016tl04/episodes/player
Keep Well
Tibbs
Major European stock market indexes traded mostly lower during premarket trading on Tuesday ahead of the release of the Swiss trade balance and Eurozone construction output data. In addition, Barclays will reveal its latest business results.
The DAX decreased by 0.09% at 8:00 am CET. The Euro Stoxx 50 lost 0.10%. The FTSE 100 declined by 0.22%. At the same time, the CAC 40 was flat.
The euro was 0.08% lower against the dollar at 7:58 am CET to sell for $1.07700. The British pound fell 0.10% against the greenback at the same time, to sell for $1.25859.
Baha Breaking News (BBN) / DD
Gold currently $2019.90
I will broadly agree SteveJones999, whatever it takes ,including confidence in the US $ as Worlds trading currency.
The FED especially Powell still have to worry about a change in government though, as Trump clearly told Powell ,he will be gone if he is elected.
So they have their work cut out until elections making Bidens crowd look good.
Until elections are over and resolved ,its going to be a bumpy year for Gold and PMs.
FED doing a good job-
Where’s the guaranteed deep recessions(some were predicting 1929 levels lol) and massive job losses predicted by soooo many experts this time last year and the year before?
Quite the reverse.
Credit where it’s due.
The FED role is case some are not clear:
https://www.federalreserve.gov/aboutthefed/the-fed-explained.htm
So what does Andrew Maguire have to say about it Mr T?
We had all the talk about Basel 3 and Kinesis making a difference, but you feel nothing has changed?
While this share price isn't doing much positive at the moment, I feel we are in better shape than we were any time since before the wall and Josef and his mates doing one. We have to hope that it translates into a rising share price and decent dividends.
I feel much the same Rebess,
it's pretty dam obvious despite the claimed market regulation and the introduction of new banking rules such as Basel 3 the FED and it's have just carried on with their policy of financial non committal innuendo in support of the press releases of fudged figures.
The FED really doesn't care a jot and is all the more ever blatant in the manipulation and price suppression on the Comex which the market is quite happy to go along with as long as it it creates some uncertainty and plenty of reasons to trade!
With the conflict in Gaza, Yemen, the Red sea shipping attacks and a full blown war in Ukraine in the FED knows it can do what it likes !
I don’t, of course, post all my info here, but if yuou look back at my posts here on my views I’ve been right way more than wrong and it’s proven in the posts. I also post what data to watch and why- admittedly I only post a little of my data points, I don’t want to give them all away lol.
From your posts, the evidence shows a very poor predictive trade approach- the clear evidence is in your posts.
To make the profits you claim which I’m not disputing, but I am saying it’s impossible based on your posts here, so must be incredible success else unposted to get anywhere near your claim.
I fear we are all waiting for a train that will never arrive. - With Gold caught-up in a tug-o-war where it is but a political instrument in the protection-racket linked to the U.S. financial system. -The problem being that in this tug-o-war, the FED is on the other end of the rope and the FED cannot be defeated. - Meanwhile, other trains carrying multiple unencumbered opportunities are flashing by.
Steve
My positions in 2023/24 are well up despite set backs. Portfolio overall up 6% plus dividends this year. I do not guarantee any forecast hence the word probably, possibly, may, could or whatever. It is all opinion and your time scale is very short. You claim a lot of success in how you do things and good for you. I know what works for me overall. All the best Tony
(Let us close this topic as a lot more interesting events could well unfold in the market).
So many new people are pulled on trading based on chartists and their amazing predictions and so on- they lose their shirt.
This is all very sad.
“ If so I would expect the Asian markets to bring the gold price down to London close after they fill their market gaps when they open”
Enough said.
I've looked through you past predictions and approx a 25-30% success rate is demonstrated, a country mile off an 80-85% success rate claim.
Steve
Gold went up to where Asian markets closed and doble topped. They did not come back down all the way to the London market close as USA market is shut until tomorrow. The gap in the London market remains and can either be closed during the day or by tomorrow morning open. I forgot USA market was closed this afternoon.
Meanwhile, China continues to assert its dominance in the gold market. According to a report from the World Gold Council, China’s gold market set all-time highs in several sectors in January. The WGC noted that 271 tonnes of gold was withdrawn from the Shanghai Gold Exchange last month, the busiest January on record and the third-biggest in the exchange’s entire history. Total holdings in Chinese-listed gold ETFs hit a record high last month At the same time, the People’s Bank of China continued to buy gold for the 15th consecutive month.
https://www.kitco.com/news/article/2024-02-16/are-investors-swapping-their-gold-bitcoin-inflation-fears-rise
Millman said that with U.S. markets closed for the President’s Day holiday on Monday while China’s markets reopen again after the Lunar New Year holiday, traders may be positioning themselves for a higher move in the short term.
“China will be trading for basically a whole session before US markets reopen on Tuesday,” he said. “Maybe the thinking behind this move is they don't want to get caught on the wrong side of it.”
Turning to next week’s economic news, Millman said that with the FOMC minutes the only significant release, he believes gold prices are more likely to decline than to rally.
https://www.kitco.com/news/article/2024-02-16/analysts-doubt-golds-strength-next-week-retail-traders-dont-stop-believing