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Regardless, the Chinese have admitted they have a viral research facility in Wuhan, so nobody seems to have asked the obvious question , what the hell were they doing researching and experimenting with a virus so deadly ? ( assuming of course that is what they were doing )
Thing is though , I like the Chinese ;. they have a far better menu option that the Indian one across the road..
Auson...you might just have hit the nail on the head ..am I right in thinking it's widely known that the virus escaped from a Chinese laboratory , rather than a local fish market in the coincidental same location as the laboratory ? I haven't seen any official publication or document concluding this ?
Would it be taking conspiracy theories to the limit to suggest it was a serious setback in the Chinese intention to use viral warfare in the future ?
Gold ain't going anywhere much until those with the biggest levers take the brakes off and that most probably wont be anytime soon!
Our planet has been almost completely ruined and so many species of driven to or on the brink of extinction by the greed and excesses of mankind, possibly it would be justice and may even save the planet if the virus eradicated the species that has some misguided cense of being more important than any other species?
In the meantime our richest nations and their corrupt and greedy political masters have the opportunity to tackle the pandemic and bring about change for the better by forgetting the cost & profit involved and instead start sending free vaccines to all the countries that don't have access to them at present!
Gold down again even though German Inflation Surges to 6%. What's it going to take to make it move? Perfect conditions, but it does not move.
I'm starting to lose my confidence that we're going to see a significant rally. Not sure what will make it go up.
Gold can have a mahoosive rally in short term, $2400, Physical Gold already priced at $1861
A bit threat has been the more we hide away the more susceptible we’ll be to existing viruses as our immune system won’t get exercised
Remember that the current vaccines will also cover mutations- to be proven on this one but likely- we have the same flu year on year and the vulnerable get vaccinated- heck, I’m just over 50 and I take one lol
This has always been the case… we develop more vaccines to stop- simple
Could be just what the planet needs. The root cause of all the major problems we face is crazy human overpopulation & unnecessary excessive consumption. As we as a race seem unable, unwilling or both to address the real problem perhaps the planet will do it for us. Wouldn’t be so bad for the long term good, be sh*t awful for most of us now though :)
candidinvestor,
You can say what you like about the quality of Chinese manufacturing, but they sure know how to make a good virus.
I have just had a foreboding thought . Given the Corona is here to stay , and Omicron has over 50 mutations..the most so far , what happens if the virus makes a quantum leap mutation, in terms of increasing both contagion and seriousness , to the extent that if you catch it you die , and it keeps on mutating and becoming more serious until we all die...is that really beyond the realms of possibility ?
It would certainly bring an end to global warming !
mick-b,
and Silver ... not so much.
It seems to me of late the Gold price has a bit more get up and go than Silver price
Wall Street Breakfast
The newly discovered Omicron coronavirus variant has the world on edge, with a lot of questions surrounding its infectiousness, ability to cause serious disease and to what degree it's able to evade the immune response from prior infection or vaccination. The strain first identified in South Africa was dubbed a "variant of concern" last week by the World Health Organization, sparking fresh worries it could prolong the nearly two-year COVID-19 pandemic. While no cases of this variant have yet been identified in the U.S., the CDC is "continuously monitoring" the situation and many say it is only a matter of time.
Snapshot: The Omicron variant has about 50 mutations, more than 30 of these are on the spike protein that allows the virus to bind to human cells. The receptor-binding domain (i.e. the part of the virus that first makes contact with our cells) also has 10 mutations, which is far greater than just two for the rapidly spreading Delta variant. The high level of mutation means that Omicron likely came from a single patient who could not clear the virus, giving it the chance to genetically evolve (a similar hypothesis was proposed for the Alpha strain).
Meanwhile, the first South African physician to raise the alarm over Omicron has called its symptoms unusual but mild. For example, none of her patients experienced a loss of taste or smell, considered as hallmarks of the disease, but rather showed up with body aches and "feeling so tired," according to Dr. Angelique Coetzee. Other South African scientists and health officials have also said there were no signs so far that Omicron led to more serious illness.
Go deeper: Americans need to be prepared to do "anything and everything" to fight the Omicron variant, White House chief medical advisor Dr. Anthony Fauci said Sunday, adding that it's still "too early to say" whether lockdowns or new mandates will be appropriate. More definitive information would become available in about two weeks, though it is important to take note that other "variants of concern" - like South Africa's Beta and Brazil's Gamma - did not take off around the world as initially feared. "There are lots of unknowns," added Sharon Pea****, director of the COVID-19 Genomics U.K. Consortium. "It's so important to stress how much we don't know at the moment about this new variant."
The news so far says new variant is mild in terms of illness impact... let's hope it remains this way. My worry is if you find a new variant with more mutations, what incentive do you have to declare it quickly? From what has happened to SA, eg restrictions etc, you get flight banned immediately...
ftse futures ++1.30%.....bounce......
copper 9555
tin 39k
gold 1795
Equities in Europe traded higher in the premarket on Monday ahead of several data releases later in the day. The European Union will reveal its latest performance in consumer confidence and business climate, Germany in consumer prices, and the United Kingdom in mortgage approvals. Earlier, the South African Medical Association's (SAMA) study claimed the new strain of COVID-19 found recently in that country caused only mild symptoms of the disease.
The DAX rose by 0.70% at 6:58 am CET. At the same time, the FTSE 100 went up by 0.96%. The CAC 40 gained 0.70%.
The euro lost 0.36% to the dollar to sell for $1.12832 at 7:09 am CET. At that moment, the pound sterling declined by 0.14% against the greenback to go for $1.33382.
Breaking the News / JR
Hi Candid,
I'm sure you realise that I'm not critical of your investment strategy because it is just that and it obviously suits your purpose and needs, nothing wrong with that.
In my opinion many short term traders are often just gamblers, although many of them can't be bothered to study the form of their chosen mount in any detail before placing their bet!
Your sons are indeed fortunate to have a father so committed to their future financial well being, the way parents and indeed grandparents support their children and grandchildren in so many ways is all too often forgotten by our politicians and the media when they refer the younger generation paying for the benefits enjoyed by the baby boomers!
That aside though past production of over 500,0000 ozs in some years has only been achieved by "High grading" and was only possible in the short term, as we are now aware!
In short, high-grading refers to the practice of mining selectively and targeting high-grade areas of a mine while leaving lower-grade ore untouched. In some cases, the lower-grade ore that is left behind by this practice cannot be mined economically anymore and therefore becomes waste.
https://dailynewsegypt.com/2015/06/07/sukari-gold-mine-production-to-increase-to-500000-oz-by-2017-chairman/
https://www.egypttoday.com/Article/3/39866/Sukari-gold-mine%E2%80%99s-reserves-rise-to-8M-ounces
Then LONDON, May 25 (Reuters) - Gold miner Centamin has made a drastic cut to its full-year production guidance and raised its cost expectations because of lower grade ore at its Sukari mine in Egypt.
https://www.reuters.com/article/centamin-outlook-idUKL5N1SW0YE
https://www.stockmarketwire.com/article/5985904/Centamin-cuts-production-guidance-for-2018.html
https://www.gold.org/about-gold/gold-supply/responsible-gold/all-in-costs
https://visiblealpha.com/kpi-guides/gold-silver-mining-kpis/
Year 2018 demonstrates just how unreliable past guidance forecasts have been even over a three week period!
Ore Grades and AISC
ttps://www.gold.org/about-gold/gold-supply/responsible-gold/all-in-costs
https://visiblealpha.com/kpi-guides/gold-silver-mining-kpis/
Mr T ..in my experience every individual forum has what I would describe as a ' pivotal ' poster..you are the one on this board . . you pay attention to, and post on virtually every thread and strive to be a force for good , keeping communications civil and respectful . That is to your credit , because when the pivotal poster has a destructive disposition , the board quickly descends into becoming a breeding ground for trolls.
I don't share your views and assumptions though , between short and long term investors ..to me it's a good thing, because it brings with it a diversity of views opinions and ideas.
As investors , we all have our own agendas which is natural , and no individual agenda should reign supreme over another . If I use myself as an example ...my investment strategy is and always has been a long term one...I buy into companies when I think they are undervalued and then divest when I think they are overvalued ..my strategy isn't short term at all, the only part of it which may be short term is the duration of holdings of individual shares within the portfolio.
I don't think there is anything illegal, immoral or in any anyway lacking in virtue about that.
My agenda is also driven by the fact that at my age and health , I don't have a long term in the way that you describe..I am guided by the need to accumulate as much wealth as I can in the time available to me , to pass on to my sons who are all laden with student debt.
I am mindful of course that there are some purists on this board who have bought and will possibly hold forever , for me that's an unwise strategy , but if it fits their agenda then so be it. I suppose what I am saying is that we all come with different agendas for different reasons and there is nothing wrong with that
Regarding your point about impatience, well you have hit the nail on the head with that .. patience has never been a virtue of mine, but that isn't always a bad thing .
Hi Mr T. I will address your comments the other way around , because the most recent comment is easier to answer ( I think )
The previous targets of 560-600,000 ounces were met , certainly in 2020...so setting them didn't do any harm on those occasions
Sadly the relationship between production ounces and AISC will in the vast majority of cases be the opposite of what you are hoping , due to the high proportion of fixed costs , which remain regardless of production levels , so the greater the production volumes the lower AISC per ounce and vice versa .
Re future production targets , it's the setting of them that inspires confidence , because it gives an indication of future intent , or it does to me anyway , but you are right , we have spoken about this at length before, so let's things lie.
Thanks Mr T...useful background information...
Or possibly due to awaiting some some further data from the ongoing Sukari recourse survey for the life of mine survey?
Notifications of the date change were sent out to all investors that are registered via the Cey website for email updates.
The Endeavour bid was a joke bearing in mind the development of Sukari alone was in excess of $1.5 billion!
At the time Endeavour were desperate for cash and according to an independent analyst opinion had greatly over valued the future potential of some of the mines in their portfolio.
https://www.reuters.com/article/us-centamin-m-a-endeavour-mining-idUSKBN1ZD1CN
Hi Candid,
We had predictions of 560,000ozs & 600,000 ozs in the past, but those estimates were probably based on flawed or unreliable data and of course a desire o tell the market what they thought it wanted to hear!
Possibly lesser ounces achieved at a lower AISC is'nt a bad thing?
Hi Candid,
In the past far too often future targets have proven to be unreliable to say the least for which the market has inflicted a terrible retribution on the share price.
Don't wish to go over old ground, but long term holders came to regard the forward estimate and of guidance by Andrew Pardey and Youssef El Raghy as "Pie in the sky and as dependable as a chocolate tea pot.
The same can be said regarding the past "Wish List" of future guidance and the possible worth of some mines in the West African portfolio.
I understand that it suits shorter term holders /especially day traders strategies to have a management who is prepared issue RNS statements and deliver webinars that amplify the normal,even the mediocre to the exceptional, so as to excite the share price to spike.
This type of sharp practice, or in some cases intentional deceit by some less scrupulous boards and their CEO's in far too many companies lead to instability in the markets and loss of trust.
it is apparent that some newer members on here have a growing impatience because they feel nothing is happening and its all taking too long.
It is also noticeable recently that that there are some members who out of spite or pent up frustration resort to making derogatory, even spiteful comments because they had hoped to be able to pop in on here a few times and pick up some snippets of market sensitive information in order to make a quick profit and move on elsewhere to do the same.
As some of us maybe aware its not feasible or probably not even allowed for the company to be delivering more regular updates until the the situation is properly assessed the facts are proven and it is the right time.
I am confident that before much longer it will become apparent just what Martin Horgan has achieved thus far and the new course the company will be taking in the future.
One thing which I would comment on , is that I , like many others didn't have any idea about the 7 day delay on the updated life of mine report , until I read the investor section of the CEY website .
There are two interpretations of this , the first one is the positive one , where some late good news has arisen and they want to delay production of the report to consider fully the implications of the good news , and make the most of it , in their presentation ..
The second interpretation is that there is nothing new to add , or worse , some bad news , and they are just taking some extra time to consider how to package and present this.
Depends if your glass is half full or empty I guess, either way we will know soon enough .