We chatted to IronRidge Resources' CEO Vincent Mascolo who explains why the company has become a lithium explorer. Watch the video here.
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'too' in line 7 not 'to'.
Gold currently at £1134.5. It looks to me like this is a new all time high in GBP.
BTW great debate on here overnight.
Personally I think my thoughts aline closest with Goldgnome's on this.
Great to see you back on the board. Also delighted that you are cautiously positive on the share. You are have been right to many times in the past when you have been negative on the share price!
Someone posted last week that even CEY management would not be so insensitive as to award themselves slugs of new shares if the H1 news was not good. That thought, combined with the fact that I was optimistic anyway for the H1 results, leads me to believe we will be very pleasantly surprised with the results in a couple of weeks. If CEY beats this year's expectations comfortably, gold remains buoyant and the guidance for next year is strong then I expect great things. Of the previous list I expect the first two. The third (next year's guidance) I expect to be better than this year but cautious and then comfortably exceeded.
Best wishes all,
+ 0.65%. + $8.85 $1427.10
High of the day $1437.58
Europe mostly higher in premarket ahead of data
European stocks traded mostly in the green in premarket trade on Wednesday as the nominations for the continent's top jobs continued. The European Council elected Belgian interim Prime Minister Charles Michel to head the body until 2022 and German Defense Minister Ursula von der Leyen for the position of European Commission president. In addition, International Monetary Managing Director Christine Lagarde was nominated to be the head of the European Central Bank, prompting her to suspend her duties at her current position. In other news, investors awaited economic data for the European Union, Germany and the United Kingdom due for release after the opening bell.
The DAX was flat at 7:53 am CET while the CAC 40 advanced 0.14% at the same time. Meanwhile the FTSE 100 climbed 0.13% at 7:52 am CET.
The euro was virtually flat against the dollar at 7:52 am CET to go for 1.1287 while the pound declined 0.06% versus the greenback to go for 1.2586 at the same time.
Breaking the News / DZ
Looking on the brighter side,if gold stays at an average of 1400$ the Extra profit will be in the region of 75,000,000$ before profit share.
Based on 500000 troy oz s.
I think the share price is lower because of sharply lower profits, which can of course be put at management’s door too. This were caused by lower production, higher costs, not so great gold price and of course the increased profit share that has really hit us. Of course management’s poor communication doesn’t help, as in the failure to mention sharp production falls last year in the report just before they happened, or produce the promised 3 year forecast by the end of this June. However for the share to rise it is not communication that needs to change but profits. I bought a lot at 80, and more at 96 as the rising gold price will help even if production and costs remain stagnant. I am banking on them not getting worse on Jul 18th figures, and hoping they’ll improve. I am even heartened by so many on this board having given up, if Cey is currently unloved then there is little sentiment to lose, and more to gain, but I understand that many feel so many times bitten by falling profits they worry we could get more bad news on Jul 18th so have sold out. As said I remain invested and hopeful and do not wish to move my money now.
I would not get distressed about this, as it is quite a common malaise in the Mining Industry. Egos run rampant, talent goes elsewhere.
A very jaundiced view: ...
The strength of a ming company is in fact the ore in the ground. A Tier 1 orebody is one which even the most incompetent management can operate at a profit. And yes I apprecaite there are other definitions.
Have a look of the history of Rio Tinto. Fabulous Iron Ore bodies, Tier 1...but Alcan, Mozambique coal...etc
Have a look at BHP....fabulous Iron Ore, but...tailings dams, Potash, Magma Copper, Shale etc etc ....
Vale...and their tailings dams that don't go away?
Centamin have one fabulous ores sytem, and possibly another in West Africa. The board, the mngt....
good luck, but be careful
Quite so Gnome, yet despite all these managements failures to deliver they claim to be so professional and keep taking their bonuses whilst their share holders take the pain!
Quite so market!
The main reason share price is where it is now not because of charts or the price of gold, or even to ongoing grade problems, but because the management haven't been honest with the market or with the share holders.
Who can really believe what Andrew Pardey and Youssef El Raghy say any more after they way that they promised 560,000 oz in Q!1 2018 and then only three weeks later issued two guidance output down grades in quick succession.
Andrew Pardey claimed the low ore grades were unexpected, very strange considering that he is such an experienced mining professional who has unrestricted access to all the ongoing daily geological investigations of Sukari.
Especially so when Kees Dekker warned of these grade problems in 2015, Andrew Pardey claimed he was unaware of the Kees Dekker report of 2015, also strange as the company were disputing the conclusions made by Kees in 2015 ?
In May 2018 Alanndra Carse of investor relations stated that production crews were ahead of schedule in getting through the temporary transitional grades, so what happened, no real evidence that production back on course to deliver the promised 560.000 oz?
Most other long term investors really would like to be able to believe in the management, but as yet they haven't been offered any convincing evidence that the management really do appreciate investors concerns, or that lessons really have be learned, or that production is once again back on track.
I appreciate that gold mining is fraught with problems, but that is no reason to be less than honest with the companies investors.
Who seems to have been proven to be right thus far concerning the Sukari situation Kees Dekker or Andrew Pardey?
Many investors and the market are sick of hearing the same old excuses especially when considering the divi has been cut and yet the management have been awarded free share bonuses it seems for their failures rather than for delivering what they promised!
No wonder that Siko decided to leave, he no doubt feels bad because he accepted in good faith what he was was told by others that the good times were coming and that there was nothing wrong with Sukari.
Yet since then the LHDR self destructed, the unexpected transitional low ore grades have been proven to be ongoing, Josef sold 10 million shares and took a back seat , a new CEO came and went without saying a word whilst the divi and company value have been halved!
So what are investors to expect in the Q2 report , yet more hole drilling reports and promises of good times in the future if they are patient, or will the management redeem themselves and actually deliver?
A return to the gold standard one day?
President Donald Trump announced on Tuesday he would nominate his former adviser Judy Shelton to the Federal Reserve board, putting the conservative economist on track for a top position at a central bank she has been sharply critical of....
To rein in that power, Shelton wants to change the way the central bank guides interest rates. Eliminating the interest on excess reserves that’s paid to banks, she argues, would encourage lending and ultimately allow more productive growth. Shelton has also advocated for a return to the gold standard, a system that pegged a currency to the yellow metal....
troube with this is how do you best get exposure to gold ...
plenty of disasters in Oz in the junior miner sector..or one mine companies...Dacian, Gascoyne, Medusa Mining etc....
What a ride its been for the long term holders some got out at the top some took a bit of pain on the way back. But its unlikely to reach the highs again even our good friend Siko is out and by his own comments unlikely to come back. Mr Tibbs is a wealth of info and opinion as our many others, maybe its time for this great board to find a new venture and pool our resources time for a pasty and a pint in Cornwall and wave goodbye to a company that is stiffing you
Oz interest rates going down new record 1%, only 2 more stops.
but then can we catch the Swiss
"SNB meets this week, expected to keep deposit rate at -0.75%"
Denmark -0.65%, Sweden -0.5%
..>>>> A MASSIVE STATEMENT OF LACK OF CONFIDENCE IN THE GOBAL ECONOMY! Low interest rate environments are meant to stimulate economic growth by making it cheaper to borrow money to finance investment in both physical and financial assets. One special form of low interest rates is negative interest rates..AND THE BAND PLAYED ON, SO BADLY, THAT PEOPLE BOUGHT GOLD BARS?
“Robust economic growth is essential to reducing poverty and boosting shared prosperity,” said World Bank Group Vice President for Equitable Growth, Finance and Institutions, Ceyla Pazarbasioglu. “As the outlook for the global economy has darkened, strengthening contingency planning, facilitating trade, and improving access to finance will be crucial to navigate current uncertainties and invigorate growth.”
The international economic order is on thin ice>>
Governance of the global economy is fragmenting as multilateral institutions become less representative of current realities and economic integration becomes more regionalized. The potential demise of the post-World War II economic order would herald weaker long-term prospects for global economic growth and prosperity as well as a more complicated international regulatory environment for companies.
The global trade system is at most acute risk of unraveling. Protectionist policies, violations of both the rules and the spirit of free trade agreements, and a looming risk that the World Trade Organization’s dispute settlement mechanism will cease to function create profound risks for the current system of international trade. In addition, the US–China trade war threatens to weaken global growth prospects while raising costs and creating supply chain disruptions for many companies.
Companies need to adjust to slowing growth in a multi-local world. It is becoming clear that the new age of multi-localism—characterized by the preference for local communities, industries, products, cultures, and customs—is extending into international economic governance. National governments going it alone to implement policies outside the structures of the traditional multilateral institutions and are pursuing regional economic integration as global agreements become less desirable or untenable. To compete in this environment, companies may need more regional supply chains and greater devolution of management and operations to the local level!
GOOD LUCK all!
Knocking on the door of 1400.
With buyers in US.
I agree entirely,it was an American sub contractor who didn't do their job properly that caused the leek although I agree BP should have supervised them better, but never the less BP and its share holders got spanked.
The US court made it impossible for BP to refuse to pay any claims from US businesses,even from the fishermen who hadn't been to sea for years because of unseaworthy boats!
Look at VW absolutely spanked for using default software and yet GM have been doing it for years!
Now Trump is putting more tariffs on European products because Europe won't buy Boeing planes that have faults which cause them to crash and kill people1
Gold did have rather a good run, I guess that a pullback and consolidation is healthy, before the opportunity to rise further.
Unfortunately the Mms don't use rationale ,they use any little thing to push the prices in both directions depending on their current position. And the sheep follow.
So there must be collusion ,as they share information ,the cartel.
Look at the number of institutions that have been fined over the years.
The problem is the punishment is not equal the crime.
The fines and compensation , should be equal to BP s Deepwater horizon ,then they might take notice.
I agree, lets hope we are in the right miner...
So what has happened over the weekend to drive gold down?
1. Trump and Xi agreed to talk again and not make matters any worse on the protectionist side for the time being (but broadly not make them any better either, leaving existing tariffs in place). Well we all know how well that went last time they had talks.
2. Trump walked 30 paces into North Korea for a photo opportunity and agreed to talk again with Kim. Well we all know well that went too last time they had talks.
Meanwhile world growth continues to be downgraded, the US continues to run an enormous deficit, the US and Iran are at fundamental loggerheads, we have two candidates for UK PM with policies that the current Chancellor says are unfundable and polices for Brexit that few believe in, Hong Kong in riots, ice storms in Mexico and record heat waves in Europe.
I think I am fine in gold and gold miners for now!
Europe higher in premarket ahead of data
European equities rose in premarket trade on Tuesday following yesterday's strong session as the United States and China made progress in trade talks. During the G20 summit in Osaka, US President Donald Trump announced he agreed to delay any new tariffs on Chinese goods and ease restrictions on American companies from selling products to Huawei.
On the data front, investors awaited retail sales figures for Germany, UK housing prices and construction PMI, and the PPI for the Eurozone.
The DAX gained 0.11%, the CAC 40 advanced 0.16%, while the FTSE 100 climbed 0.28%. The euro was virtually flat against the dollar at 7:52 am CET, buying 1.1287, while the pound declined 0.06% versus the greenback, going for 1.2633.
Breaking the News / JC
+ 0.54%. + $7.42 $1391.37
High of the day $1393.31
Tibbs OK thanks I didn't read this as a 3 year plan but will be interested to see how much detail the guidance provides.
Yes, you are correct Mr Pardey was dead against the idea and then did a complete U turn during the very last presentation
Page 35-36 Deliver 2020 – 2021 guidance in Q2 2019
At least there has been some progress in the SP of late, recovering some of the opening slide. - The big question now is 'Will Q2 allow us to hang on to it and progress from here, or, will they send us back down the mountain where we have been so many times before, leaving us a vertical cliff-face to once again attempt to climb?