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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.
Yes, 'Exploration' one thing - 'Exploitation' another. - It sounds as though they are still playing hard-ball with Terms and Conditions for extraction.
Softly softly catchie monkey..
Makes you wonder what will make us rise...when gold is 1900 this will be 95p. Its obviously not overly following gold price at the moment
agreed, feels muted
it hasn't been slammed down like Fres though so we couldn't expect a similar rise
Would have hoped for a better rise here today-
Gold doing well. CEY doing well compared to most others today.
Listening to these presentations it make s it clear from the comments by David Buik about the difficulty of getting anything through the financial regulations why Basel 3 has taken so long to come in!
Enjoy Werners work and saw that RT piece years ago
He is quite unpopular in certain corners of the banking world due to his truth bombs
clearer...commentray ont he absurd banking structure in the UK (US and Oz not any better)...and this time we will get it right
but Germany?
LOL
https://www.youtube.com/watch?v=IzE038REw2k
European stocks traded with losses in the premarket on Monday with the latest developments in the Ukraine situation in focus. While the United States insists that Russia's "invasion" against Ukraine is imminent, Moscow continues to dismiss such claims.
The DAX lost 0.68%, London's FTSE 100 fell by 0.99%, and the CAC 40 dropped 1.65% at 8:01 am CET.
The euro was flat compared to the dollar at 8:12 am CET, trading at 1.13426. The British pound was 0.15% lower against the American currency, going for 1.35310 at the same time.
Baha Breaking the News (BBN) / MS
For those wanting to hear more about the "elephants waltz", plse follow the link. It is educational and serious...
https://www.explorationradio.com/ep-37.html
There is a lot of anguish at aspects of past CEY Board, Mngt and communications. Important to know this is not peculiar to CEY, it is an industry standard!? I say this as a person who has been in the industry for decades, with the biggest, the startups, the technology guys etc.
...The elephant in the room is that the devaluation of mining companies cannot be explained by the commodity price, instead it is dictated by the self-inflicted mistakes of a commodity boom, and the irresponsible management of these assets.
...The elephant in the room is that most of these mining companies believe that the commodity boom will continue to bail out their lackadaisical management and operations.
...The elephant in the room is that mining companies, in the past, maximised returns for an ever-rising gold price; optimising project resources for scale rather than payback and returns.
...The elephant in the room is that the mining industry has made so many mistakes; mistakes in the geological modelling, mistakes in community relations, mistakes in environmental planning, mistakes in capital markets, mistakes in communicating with investors and mistakes in overpromising and promoting their business.
...The elephant in the room is that the mining industry has lost the trust of the most serious investors, causing an exodus of capital that will not return quickly.
There are so many elephants it is hard to keep track. But CEY is not alone.
They can do better. They are in a great position because of the quality of their orebody. If we get the board and managment to be of the same quality as the orebody, CEY will shine
best
the gnome
Tornado I quite agree and so hard to call, I remember when Trump won gold soaring and then quickly falling back and at so many other ‘events’. However one day the Wolf will be real and it is just possible it is this time with this mad inflation. No one truly knows, and we just have to wait, but anecdotally I have come across a few people talking of buying gold, plus sentiment has been so bad recently hopefully many sellers are out. We shall see, not just tomorrow which will tell us nothing but over the next months. Ever hopeful…
I doubt Putin will attack, Russia has way more to lose than gain by invading Ukraine. It’s just media trying to scare people and/or trying to frame Russia as the “bad guys”. It’s all political crap.
95% of the investors in world know this, otherwise gold, franc and yen wouldn’t be trading flat. 1% up on gold is nothing, makes me laugh when people are already celebrating
Hi Gnome,
Time governments the world over started to stop the blatant exploitation of the world natural environment by unscrupulous mining and oil /energy companies.
WWF-Australia conservation scientist Dr Stuart Blanch said: “Ecologists estimate koala numbers in Queensland, New South Wales and the ACT have likely more than halved since 2000. We call on the Australian environment minister to use federal environmental law to list them as ‘endangered’ in eastern states to increase legal protections for forests and woodlands where koalas live.”
https://www.ifaw.org/uk/press-releases/bushfires-report-list-koalas-endangered?utm_source=SFMC&utm_medium=email&ms=KONDG220230002&cid=7013k000001a3QS
The Canadian government is also permitting terrible cruelty by poising its wildlife!
The Canadian government allows the deadly poisons—strychnine, sodium cyanide and Compound 1080—to be used in Alberta and Saskatchewan to kill wolves, bears and coyotes. But every year the widespread and poorly regulated use of these indiscriminate poisons results in the agonising and painful deaths of not only these species, but also pet dogs, endangered wildlife and other non-target animals.
https://action.ifaw.org/page/82163/action/1?pu=0&utm_source=SFMC&utm_medium=email&ms=KONDG220251002&cid=7013k000001a4y5
That said our UK government is setting no example and has in general fails to prectice what it preaches!
The Government has again put bees at risk by permitting the use of the banned pesticide thiamethoxam on sugar beet in England in 2022.
The Government, for the second year running, has allowed for a banned bee-harming pesticide to be used by sugar beet farmers in England, threatening our precious pollinators
In making the decision ministers went against the explicit advice of their own scientific advisors not to allow the pesticide to be used.
Environmental organisations the RSPB, Friends of the Earth, Buglife & The Wildlife Trusts say the decision goes against the government’s green promises, and will ultimately lead to the harm of wildlife.
Farmland covers 75% of the UK making it vital in the fight to reverse nature’s decline(1).
https://www.wildlifetrusts.org/news/government-puts-bees-risk/
https://twitter.com/jfostertm/status/1492666174663921664
https://www.linkedin.com/posts/don-lawson-98619370_geological-survey-data-samples-activity-6898397946308636672-eTPd
Centamin PLC shareholders call on management to reveal the results of the 2019 HiSeis geological survey. Follow the example of other responsible mining companies who value transparency & disclosure over withholding crucial data from shareholders. #tsx #mining #investing
-------------------------------->>>
I'm encouraged by more than a few executives from an array of organizations taking notice
Escalating tensions between Russia and Ukraine have wiped £500 million from the fortune of mining tycoon Roman Abramovich. Investors have taken flight from Evraz, the London-listed steel and mining group where he is the largest shareholder, as fears grow over the consequences if military conflict breaks out. On Friday night, the Foreign Office advised UK nationals to leave Ukraine.
Abramovich, who owns Chelsea Football Club, has seen the value of his 29 per cent stake in Evraz slide by £500million to £1.86billion in the last three weeks. Market jitters have also hit Polymetal, a London-listed Russian gold miner.
Its stock fell 11 per cent to £11.15 over the same period. Both had previously been lifted by a rally in their stock price with strong global demand for metals.
Investors fear an invasion of Ukraine could spark international reprisals for Russian companies, including potential sanctions. Markets.com analyst Neil Wilson said: 'Investors have decided there is risk they do not want from the tensions between Russia and Ukraine. The worry will be the potential for sanctions and also disruption to exports.'
Wilson added that a full-blown invasion of Ukraine would be likely to trigger an even sharper sell-off in Russian stocks.
Evraz was tipped by US investment bank JP Morgan to its clients last month because of high steel prices and booming demand from China. The fortunes of Evraz and Polymetal over recent weeks are in sharp contrast to fellow mining stocks such as Rio Tinto and Anglo American, which closed last week at a record high.
Abramovich, 55, bought Chelsea in 2003 and snapped up a £1.6billion stake in Evraz in 2006. His wealth is estimated at around £10billion and he owns the world's second largest yacht, the 533ft Eclipse.
https://www.dailymail.co.uk/money/markets/article-10505975/Roman-Abramovich-loses-500m-Ukraine-war-fears.html?ns_mchannel=rss&ns_campaign=1490&ito=1490
Cowichan
For CSAMT, here are some links of use
http://zonge.com/geophysical-methods/electrical-em/csamt/
https://www.researchgate.net/publication/298350421_Geophysical_exploration_for_gold_in_deeply_weathered_terrains_two_tropical_cases
Keep up the great work !!
cheers
the gnome
The High Court of Australia is about to award the first exclusive possession compensation claims in regard to Iron Ore Miner , Fortescue Metals ....the claims relate to decisions and actions taken by the board and mngt of Fortescue, which was found to have not been in accord with Legislation. Appeals fought and lost.
https://insidestory.org.au/a-miner-meets-its-match/
This has significant negative implications for all mining and exploration companies in Australia, and huge positive implications for the legal fraternities. How the Indigenous people fare will be another story.
Andrew Forrest (founder of Fortescue) has linked welfare and mining royalties to the tragedy of youth suicide and social breakdown in Aboriginal communities as his Fortescue Metals Group braces for what could amount to a multibillion- dollar compensation claim from traditional owners in Western Australia. Andrew has rcvd $8.5 billion (now thats a fair dividend?) since Fortescue Metals Group began paying dividends in 2011. “It has to start first and foremost with a fair measure of compensation and industry aspirations on First Nations people working for them should be second to that,” the head of the Native Title claimant group commented.
After decades of marvellous banter, glowing speeches, articulate reports, endless enquiries, legal ponder, Australia has an exasperating set of state and federal laws, which considerably increases the risk of exploration and mining investment and efforts, and will cause massive delays (one court case went on for 20+ years?) and signficantly lower return on investment. Given that all of the low hanging fruit has been picked (surface orebodies have been found), to compound the already extremely high technical risk with extraordinary legal complexity and risk, makes Australia in the same political risk category or worse than Guinea.
I am off to explore in Egypt!!! Far less risk, still Tier 1 orebodies lurking not far from the surface, still low hanging fruit, just comply with the laws, treat people well, keep your head down (etc). Centmain needs to capitalise on the social capital it has already invested, and do it now, and not wait for Barrick to beat them to the punch...
best
the gnome.