Blencowe Resources: Aspiring to become one of the largest graphite producers in the world. Watch the video here.
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Russia invading Ukraine next week being reported
And oil up 5%...
Stocks heavily down
Something big breaking out
Lol!
Gold at 1860....we'll be at 85p on Monday:)
Hi Sotolo ,
Bit of a digression from worrying about the markets, but related to Magic mushrooms!
Whilst on a college course I became good friends with another student Dave who's father owned a well established reprographic/photographic business based in a small market town in the midlands. Dave didn't have a car license so in order that he could get to get to college and work Dave persuaded his father to buy him a Ural Cossack motorcycle combination.
The Urals was delivered from the Liverpool importers to Dave parents house in a large wooden crate, inside the crate the Ural's metal work was wrapped in brown greased paper , the rest of the bike was wrapped in wood wool and old egg trays!, it took us a day to unpack the Ural and then it had to commissioned for the UK by the local motorcycle shop, who asked if Dave wanted the supplied optional machine gun rail fitted to the sidecar!
The robustness of this URA; was incredible which was just as well because some months later after Dave had eaten some what thought were wild mushrooms for breakfast (which he had found the previous day)as he was riding his Ural down a lane he hallucinated causing him to swerve the Ural off the road smashing through a closed five bar wooded gate, then across a field and straight through a hedge knocking Dave off and the Ural to come to a standstill at the bottom of a deep ditch.
Luckily the farmer, a friend who owned the field arrived a few minutes later in his tractor and helped Dave who up who was free from major injury and then after taking Dave home returned to pull out the Ural which had suffered a cracked indicator lens and a broken number plate!
A few days later when the farmer called round for his cheque for a new gate he said that some the seasonal workers claimed they had found magic mushrooms growing in the spinney, but he had never found any himself .
From then on Dave decided to stick to eggs on toast for breakfast in future!
Dave ran his Ural most days for over 17years and apart from tyres and normal service items spent nothing else , the Ural is now only really used at weekends, having now now covered around 50 000 miles, it had a clutch replacement, but no other engine work and allowing for inflation is still worth around the original price!
https://www.youtube.com/watch?v=ytjW_XEaSdU
https://www.adventurebikerider.com/ural-ranger-right-hand-drive/
https://www.youtube.com/watch?v=3rxzPPk4cKk
http://www.cossack-motorcycles.com/ural-motorcycles-imz/
paulmetcalfe,
That Boohoo guy is a clown, I told him at the time to stick to Boo and some other detritous he was buying. All will come good here when the POG rises back above $2000
Fair comments Paul, but how much will building materials and golden flip flops have gone up by then?
Alas I trusted the serpents, my hopes of owning the golden flip flops were based on a desert mirage created by ElRaghy & Pardey spoof and the complacency of a lazy BOD & NED's!
After the way we were deceived I no longer have the high expectations I once held about good times coming, it seems they were possibly just an illusion, a hope based on blind faith, so what will be, will be now!
But then is it really possible to trust any of the mining companies, or that said any company, the markets, or our worlds leaders and politicians?
It seems in the 21st century as though the odds are just as heavily loaded against fairness, truth, integrity and the ordinary people just as much as they have always been!
https://twitter.com/centaminplc/status/1492077633353523208?s=21
Remind you of something?
"Is Bluffing a necessary part of market control?"
How Science is Taking the Luck out of Gambling - with Adam Kucharski
https://www.youtube.com/watch?v=658xlubwnDc
From the statisticians forecasting sports scores to the intelligent bots beating human poker players, Adam Kucharski traces the scientific origins of the world's best gambling strategies. Watch the Q&A here: https://www.youtube.com/watch?v=o0Xxb... Subscribe for regular science videos: http://bit.ly/RiSubscRibe Adam's book "The Perfect Bet" is available now - https://geni.us/9Ao9j Spanning mathematics, psychology, economics and physics, Adam Kucharski reveals the long and tangled history between betting and science, and explains how gambling shaped everything from probability to game theory, and chaos theory to artificial intelligence. Adam Kucharski is a Lecturer at London School of Hygiene and Tropical Medicine where his research focusses on the dynamics of infectious diseases, particularly emerging infections. Prior to this, he got a degree in mathematics from the University of Warwick, received a PhD in applied mathematics from the University of Cambridge and had a post-doc position at Imperial College London.
Thank you for the reply Sotolo. It looks like we are down a bit this morning as well. Forgetting about an offer from Endevour, IF the price went up to £1.50 would you sell?
Ive been in here about 10 years now and my average in above the current price as I bought on the way up and on the way back down.
You look at some of the traders on here who always seem to get it right, but I wonder if their success rate is better than average?
There was someone in here a month or so ago ****ging the share and boasting how they got into boohoo at £1.05. Boohoo is in the mid 90's now. Im not saying it wont go up in the following months but with any share there are 3 options (1) it goes up (2) it goes down (3) it remains the same.
I remember "making hay" on this board years ago who seemed to be able to time the ups and downs very well when the share was in the 40's and 50's. He got out about 6 or 7 years ago and missed the rise up to £2 + (dont we all wish we had sold then and bought back in now? :-) )-----------------------------But look at it like this , the share is 1.5 times (maybe more) at the point Making Hay got out AND there have been 6 or 7 years of dividends as well.
Fingers crossed things pick up , Mr T gets his golden flip flops and you get your house built.
Please remember this was recorded on Tuesday before the FED's latest statement.
00:00 Start
02:55 Craig shares his trends prediction for 2022
04:50 Having That Bigger View over market shenanigans
13:05 The Fed - pivoting the other way?
15:45 Where did the 1.7 million ounces of GLD inflows go?
25:20 Is this the year we finally reached that point of critical mass?
28:40 Physical, physical, physical… All global banks are adding gold to their reserves
34:55 The price of gold vs the value of gold
42:05 The split between the Fed and BIS is coming…
48:40 We’re close to getting a million views on Craig’s “The biggest gold and silver swindle…” video!
https://www.youtube.com/watch?v=fQlRpd2GSfQ
Just to remind those who may wish to be critical, the opinions expressed in this video of Andrew Maguire and any guest,
Tibbs
Looking back at this index, when factoring the decline of UK sterling to $1.35 to pound it has only increased in value by 1% per annum since 2014. Compare this to USA stock markets and the UK is not in an equity bubble.
Paul, sorry I just saw your question. I hoped that when Cey was 220 it would go on and hit £3. But yes, that was pre wall and pre the huge rise in costs also coming from oil rise and inflation. Now we will see falling profits as also the gold price has been declining in real terms -$100 over last year; so gold will have to near $2000 just to be level with a year ago, and with our increased costs more like $2200 for us. So yes if endeavour made the same offer again now worth around 150 I would probably jump at it and put the money in Barrick as so well managed, and much lower costs, to get the rise I need to build. But unlikely imho, rather looks like a slow decent at the moment
Prince... The best explanation I ever heard about gold keeping its value was like this; in 1930 you could have a steak dinner in New York and stay overnight in a central city hotel for an once of gold. Today you can do the same... holds value in the long term.
Your cash is buying less. ..energy . water. food. rent.
Try buying gold from a knowing seller ... as opposed to a trader
I recommend ublock origin for you people annoyed by ads. Makes things considerably faster and less annoying for me.
Major European stock markets registered losses ahead of the last session of the week following major economic data on the state of the British and German economies.
The DAX lost 0.70%, while the FTSE 100 fell 0.85% and the CAC 40 declined 0.87% at 8:08 am CET.
The euro dropped 0.46% against the dollar to sell for 1.13782 a minute later, while the pound slipped 0.18% to $1.35288.
Baha Breaking the News (BBN) / ND
Have a good weekend y’al
The big "unpredicted event" is inflation is inflating at unpredicted levels, LOL. What exactly was the debt management program that the Central Bankers had in mind when they created so much debt, now $30 trillion in the US (and we have $1 trillion in sight in Oz) and they are talking about another "productive" war. There was the outlandish suggestion by some, that the only way to manage the debt was to deflate its impact through inflation, and if you could do this by keeping interest rates low, then away it goes.
So US inflation hits an "expected" new 40-year high of 7.3 per cent on Thursday. Consumer discretionary goods such as apparel and leisure products showed the largest year-over-year change in mentions of inflation, up 193 per cent and 182 per cent, respectively, to 75 per cent and 94 per cent of earning calls in the fourth quarter. Largish?
The central banks will find there are limitations (let alone reality) in their financial models but there are limitations on their capabilities.
There are essentially no limits on the creation of fiat, and debt, ... and the working of banks. Well thankgoodness it is not taught in high schools where it should be!? Worth a careful look and listen
https://www.youtube.com/watch?v=CXCMifLZsjs
Hang onto to real assets
bet
the gnome
No , scenario is totally different
Inflation is going beyond 10% maybe even 20%. Gold is still at the same price it was when inflation was sub 2%. Governments lack fiscal responsibility and basic logic and fiat currency is not sustainable. Its also really annoying posting on the share chats now with all these adverts stuck directly on top of the message box.
EU insurance laws should be changed, says Bank governor Bailey
Thu, 10th Feb 2022 18:38
Alliance News
(Alliance News) - Bank of England governor Andrew Bailey will say that EU laws which require insurance companies to hold enough cash to ensure they do not collapse are not well suited for the UK.
The governor is expected to tell listeners to a speech in the City that the so-called Solvency 2 regulations needed to be reformed.
"I do not for a moment consider that the Solvency 2 we transposed from EU law and regulation is best suited to the UK," he is expected to say at a dinner organised by industry group TheCityUK on Thursday.
"Why would it be, since it was designed to cover 27 countries? The case for reform is clear."
He added that in changing them the UK must first "ensure we define and set our expectations on safety and soundness and policyholder protection".
The Solvency 2 regulations were set to ensure the stability of insurance companies across the EU.
It has three pillars, the most important of which is ensuring that insurers hold enough cash so they can resist becoming insolvent if they get an unusual number of claims.
The regulations also include rules on transparency and on regulatory oversight. They came into effect in 2016 and were transferred to UK law when the country left the EU.
At the time the proposals were being debated, they were criticised by the boss of Prudential, who said they could drive companies out of the UK. Last year the business said it was committed to its UK headquarters.
The speech comes just days after the Governor sparked a backlash for saying that workers should help keep inflation down by not asking for big pay rises.
His comments came despite a huge increase in the cost of living, caused by rising energy prices among other things. The Bank predicts that inflation will reach more than 7% in April.
Both Downing Street and unions pushed back against the governor's words.
GMB general secretary Gary Smith said: "You do not appear to have called for restraint in price setting, or dividend payments."
By August Graham, PA City Reporter
Thank you Dasut,
Fair comments, especially about the management side of NHS trusts!
I only wish that Martin Horgan had taken over in 2018!
Tibbs You are preaching to the converted and I thoroughly agree that the old guard were way short in too many areas but there is nothing you or I can do about history. As I say we now need to have trust in the new team and keep asking pertinent questions when the opportunity arises such as the phone ins, and doesn't have to be a phone call as they take questions in writing during the presentations.
As a bogger flogger of mining equipment I would have loved for the customers to double up on equipment but it was never ever the case and as I say to predict everything by way of parts that are going to fail over the life of a machine is only possible to a certain extent. I do have first hand experience of a mining company that did over spend on parts and components so much so they had more parts in their stock by value than the local dealer who were supporting numerous mines. The mining company unfortunately actually went bankrupt and the new owners a major mining house chose to go the contract mining route and it is still operating 20 years on with good profits.
I don't have any specifics as to Barminco's short comings during their contract so can't comment on your criticism of them.
I am not sure what hands on experience Centamin on site team has in working the Sukari underground resource, why should they as they have had a contractor doing the mining?
I have seen contractors actually make more money through efficiencies for the mining company than the mining company was able to achieve when previously doing the mining themselves. It isn't just contractor mining being changed to owner mining it works the other way around.
I can't comment on Egyptian tax laws as it relates to depreciation.
The NHS heaven forbid Tibbs this can't be compared with a mine and I was once a member of a trust and goodness inefficiencies and down right incompetence was enough to tear your hair out. I only refer to management not the medical teams who I have the utmost respect.
Centamin being where it is to be expected, I liken the situation to the fable and
the Moral of “The Boy Who Cried, Wolf!
This short story teaches a moral lesson that people refuse to believe a liar even when he is telling the truth.
The boy who cried wolf story is a story that every child/company director should read and learn the underlying lesson from!
Pardey Josef and Youssef cried 560,000 -600,000 oz from Sukari far too many times knowing it was a lie!
It is painfully apparent now by the pile of uncleared waste in which Sukari is mired and the tears of clear up facing the new management that the claims that all was well at Sukari by Pardey on many occasions was just more lies!
Pardey promised those resource updates for the many millions of dollars spent drilling in West Africa and failed to deliver anything other than disappointment far too many times!
Agreed the those responsible for the years of deliberately distorting and misrepresenting the true state of things to share holders and the market have moved on, albeit with their saddle bags full of swag (Bonus shares).
Unfortunately the mess they have left behind for their successors is considerable and may be fraught with as yet unknown challenges to say the least , but that said the rewards for succeeding in their strategy may yet exceed all our best hopes and expectations!
Unfortunately though at this stage even if the Messiah were to descend with a heavenly choir of angels trumpeting that lessons have really been learned, that things have really changed for the better and that future production will be based on realistic and sustainable estimates, the market would most likely remain skeptical,suspicions or just unwilling to believe until there a year or so of proof, or possibly a miracle of some kind that could whisk away all that open pit crap and restore the flowing of high grade ore whilst reducing AISC at a stroke !
But as the market and we share holders all realise such miracles are unlikely in the real world, so the fate of Centamin, Sukari and our investment is dependent upon the professional ability determination and integrity of Martin Horgan and his new team to deliver on their promises over a period of time.
Imagine a company with a 7.6x debt-to-sales ratio, with negative net income, and where interest expenses are a quarter of revenue and climbing. That’s what the government would look like in that higher interest rate scenario.
Is this fixable? Well, not really.
once debt is beyond a certain event horizon where the math doesn’t work anymore, there is basically no amount of spending cuts or tax increases that can persistently reduce the debt-to-GDP ratio without inflating a big chunk of it away.
Either way, now that the math is where it is in terms of debt having reached unmanageable escape velocity, we’re probably stuck with the only option of the Federal Reserve holding interest rates below the prevailing inflation rate for a while.
Furthermore, the US partially de-industrialized itself over recent decades, and began running large trade deficits with other countries. A larger share of our GDP began to consist of consumer spending.
As previously described, consumer spending is now over two-thirds of GDP:
If asset prices fall (which they would almost certainly do if the government cuts spending and increases taxes), it would result in a reverse wealth effect, and probably weaken consumer spending, which would reduce GDP. It would also result in lower tax revenue, further contributing to the deficit
Rather than asset prices reflecting the state of the economy, asset prices are so inflated that they can hurt the economy if they fall.
The US fiscal deficit, as bad as it already is, actually has been lower than it would have otherwise been, thanks to the constantly-increasing asset valuations. Those increasing asset valuations fueled higher consumer spending and higher capital gains tax income. If those asset valuations stop going up structurally as they have been, it can quickly make the fiscal deficit a lot worse
When it comes to my analysis of monetary policy, fiscal policy, and inflation/disinflation in the United States from an investor point of view, I consider the US national debt as being beyond the point of recovery in any sort of real terms.
In other words, regardless of who is elected going forward, I view the range of policies that could potentially allow US government bondholders to be paid back with positive purchasing power to be vanishingly small. Neither Democrat nor Republican administrations will be able to solve the debt problem without holders of cash and bonds losing considerable purchasing power.
https://twitter.com/LynAldenContact/status/1490718965957632004