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South Korea jets fire warning shots at Russian military plane23 Jul '19
Not good for world stability but potentially good for pog?:
South Korean jets fired 360 rounds of warning shots after a Russian military plane violated South Korea’s airspace, Seoul officials said, in the first such incident between the countries.
The three Russian planes had entered the South Korean air defence identification zone with two Chinese bombers, but it was not immediately known whether the two countries deliberately did so, according to the South Korean official.
European stocks gain premarket ahead of Tory race results
Stocks in Europe posted gains in Tuesday's premarket trading, ahead of the announcement of whether Boris Johnson or Jeremy Hunt will succeed Theresa May as prime minister of the United Kingdom. The membership of the Conservative Party voted through a postal ballot on the next leader of the party, who automatically becomes the head of government. Former Foreign Secretary Johnson is widely expected to beat the sitting top diplomat by a large margin.
The earnings season is heating up, with UBS reporting higher earnings per share and reported profit before tax in the second quarter.
The DAX increased 0.57% at 8:00 am CET, as London's FTSE 100 added 0.35% in premarket trading. French CAC 40 was up by 0.21% at the same time.
The euro was 0.16% lower against the dollar at 8:02 am CET, going for $1.11908, while the British pound sank 0.15%, changing hands for $1.24567 at 8:03 am CET.
Quite so Ol Griz, All things considered the situation with Gippsland and Centamin could not be more different. We have been assured many times that the court cases are not really a big issue for Centamin, as the government are on the same side re the license issue, and the fuel subsidy is already factored into all of the economics of Sukari ever since the dispute began. In the meantime Sukari continues to deliver the gold ounces and returns to its stakeholders, of which Egypt is a large one. Let's hope that the management have some good news for us on July 31st that will not only lift our spirits and the share price but also restore some of their lost credibility!
I find it quite amusing. With nothing to lose, this company is ready to call out the ineptitude and dithering and offer some push-back. And what can the red-faced bureaucrats do about it? But I think I'd be inclined to maintain CEY's current diplomatic response to it all.
They may well have a justified case and a an excellent chance of a verdict in their favour! However i wonder if they have a decade to waste or realise how long court cases can take in Egypt, especially in the case of mining companies ,even those who have exceeded their contractual commitments to Egypt and are falsely accused of wrong doing! If the Centamin case is an example of Egyptian justice then some of the investors mentioned in this article will probably be dead before this case comes to a conclusion!
Australian miner sues Egyptian government over collapse of billion-dollar deal
The Australians are seeking compensation in an international tribunal after Egypt, which was a joint partner in the venture, abruptly pulled out of the project in 2015 and sought to strip the company of its right to explore the mine.
Gippsland – which has since morphed into an ASX-listed e-sports outfit Emerge Gaming – is using a clause in an investment agreement signed with Egypt by the Howard government in 2001 to argue the country "breached a variety of obligations with respect to how they conducted themselves", according to the chair of the Australian company.
Mike Rosenstreich chairs Tantalum International Ltd (TIL), the company established by Gippsland to enter into a 50-50 joint venture with the Egyptian government's mining authority, Egyptian Company for Mineral Resources (ECMR).
He says the Australian firm has a "strong legal case" to seek "significant" damages due to what he labels "ridiculous" behaviour by the Egyptian government.
TIL is hoping for the Egyptians to come to the table to avoid a protracted dispute as occurred in the Pakistan case, which took eight years.
TIL has filed initial documents to the tribunal, while the Egyptian government is yet to file materials.
"There's always a way of cleaning these things up quietly and expeditiously for both parties," says Rosenstreich.
Europe trades mostly flat premarket, UK PM race in focus
Stocks on major European markets were little changed in Monday morning's premarket trading, as the Conservative leadership race in the United Kingdom nears its end. Conservative Party's membership voted to elect the new British prime minister and the results are expected on Tuesday morning. It is widely expected the winner will be Boris Johnson, former foreign secretary and prominent Brexiteer. Investors are also anticipating the interest rate decision by the United States central bank this week. Some statements from the Fed indicated there could be a rate cut due to increasing uncertainties.
Both the DAX and the FTSE 100 were flat at 7:55 am CET. The CAC 40 lost 0.08% at 7:51 am CET.
The euro and the pound traded flat against the dollar, buying $1.12172 and $1.25006 at 8:01 am CET, respectively.
I think that one reiterated 110 which seems a little low to me but then again I generally hold brokers in very low esteem and the smaller the company the more junior the brokers covering it therefore the less credence to pay to them.
Morning Floptical, Good to hear from you and to know that you are still in the great Centamin game. Let's hope we are on the way up for a while yet and that there are not nasty surprises this time. Best wishes, Prof
Thank you Jimbo! Makes yesterday a bit of a waste of time really, let's hope that they have something to say on 31st july that will excite the market and also go some way to restoring the fortunes and faith of of the share holders.