The latest Investing Matters Podcast episode featuring Jeremy Skillington, CEO of Poolbeg Pharma has just been released. Listen here.
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Gold is heavily down; breakout has reversed.
HOC sector effect plus week market and pog 50/50 -- MMs playing a blinder today and picking up plenty of shares to bounce back at around 95p imho
not followed much lately - why the drop todaY?
“Sukari ahead of schedule…”
Capital’s Executive Chairman, Jamie Boyton
(Video 4 minutes long)
https://www.capdrill.com/news/q3-trading-update-jamie-boyton-interview
Capital’s Executive Chairman Jamie Boyton visits Sukari
https://twitter.com/_capitallimited/status/1446341970394112002?s=21
No not touch with a barge pole I remeber CEY too wel,although I managed to buy at the bottom.
But more luck than judgement,in the days when I traded.
Long gone.
I read or heard the ceo of Capital say that the company is ahead of schedule with their Centamin contract, made me wonder if Centamin could update the market also with a “ahead remark” and possibly a positive mention of increased production.
We really are at the mercy of the market pressures.
The very name of the upcoming event on December the 8th is enough to send shivers through the most positive Centamin investors.
Hi MrBond,
I think I would stay away from HOC , lots going on in Peru
Seven of the country's previous ten leaders have either been convicted or are under investigation for graft
Peruvian President Pedro Castillo accepted the resignation of his prime minister Wednesday and replaced him with a female environmental activist.
Under Peruvian law, the prime minister's resignation automatically triggered that of the entire cabinet.
https://dialogochino.net/en/climate-energy/43411-perus-presidential-hopefuls-are-uninterested-in-the-environment/
https://www.worldnomads.com/travel-safety/south-america/peru/crime-in-peru
Corrupt politicians and companies have a lot to answer for, not saying that Hoch is guilty of anything of course, but who really knows what has gone on?
Yes indeed. Hoc up 33% since I suggested popping in half an hour ago, what a rollercoaster! Maybe time to pop out again if you popped in. I am just sitting it out as usual
Their situation is horrible, brings back bad memories of CEY when the CC license fiasco happend.
I am not suggesting Hoc isnot being punished by the government but you said markets could be heavily punishing on poor results , in this case the price fall is realistic if you listen to the currently on air Hoc conference call where ceo just saying right now that if this is correct they must stop all operations and close down immanently, the market price is still saying 50% chance this will be withdrawn and Hoc mines continue ,
Tripe of course it's being punished, are you blind? Cited as environmental however but buyer's beware do your homework on the new president, very leftwing. This board is going to the dogs, although it gives me a good laugh especially the posts from the weekends.
The problem is the law was changed many years ago so the heads of banks cannot be jailed.
These type of institutes are protected by an Act ,that high up officialdom is virtually immune.
Individuals who act on their own ,are a different story.
A few have ended up in the slammer but not many.
I cannot remember exactly where and when allowed ,but I am sure someone on this BB does.
The government closing your mines shortly and permanently is rather more than punishing an update. Methinks however that at 75p Hoc could be an interesting buy?
Hoc now down 60%. Just goes to show how the market punishes lets hope our update doesn't disappoint.
Fair comments MRBond,
In reality these fines are less than a slap on the wrist and who really pays, it's the share holders in the bank's and the customers who continue to receive derisory rates of interest.
It's time to start giving custodial sentences to a few of the top instigators of this fraud up for a year or two and start taking away he licences of these banks.
The other problem is that if regulator tries to do their job properly they get leaned on or moved on!
Like they'll give a monkey's what you do.
On a more sensible note, hoc being hammered this morning, -40% at time of writing, due to new hardliner in power only doing what he said he'd do, so investors should've seen that one coming. At least we've a more facilitating government in power in Egypt atm.
It's not even a slap, it's a tickle.
Shares in Europe traded mixed in the premarket on Monday after Germany set a new record COVID-19 incidence rate and mass protests against new restrictions over the weekend were held in a number of European cities. Meanwhile, Bank of England (BoE) Governor Andrew Bailey said that he was concerned about inflation and that rate rises will have to be considered.
The DAX was up 0.05% at 7:20 am CET. At the same time, the FTSE 100 was down 0.12% and the CAC 40 dropped 0.06%.
The euro was down 0.11% against the dollar to sell for $1.12760 at 7:22 am CET. The pound sterling was flat against the greenback, going for $1.34414.
Breaking the News / IB
Its a start.
No more than that .
Unlikely to stop it at the moment.
Needs at least another nought adding,.
But will it happen?
Doubfulll.
Wow, the Grenadier is seriously retro inside. I want one!
Inflation “is not transitory”, said Nicky Shiels, head of metals strategy at MKS (Switzerland) SA. “It’s injected some bullish momentum. That’s a change from the previous ‘thinking’ since the Fed’s taper threat is out of the way.”
Very difficult to not see inflation growing, and lasting longer. The volume of money being printed and promised to fix this and that is gigantic, and no end in site.
The infrastructure act in the USA signed into law last week marked a defeat for the faction of progressive economists in ascendancy in 2020. For these advocates of modern monetary theory (MMT), the insistence by both political parties that all the $550 billion of new spending be matched by offsetting revenue, known as “payfors,” goes against their belief that money is merely a tool for government.
MMTers detest payfors as wrongheaded thinking about money. Money only exists because of government spending, and under MMT, the government should just create as much as it needs to finance its projects (doesnt matter how worthy the projects are). In a tight economy—like we have now—MMT might want offsets to new spending. But higher taxes or lower spending elsewhere would be aimed at avoiding inflation, not at balancing the budget.
The most important claim of MMT is that a government need never default on debt issued in its own currency. The lesson of 2020 was that MMT is right.
“We got five or six trillion dollars of spending and tax cuts without anyone worrying about payfors, so that was a good thing,” says L. Randall Wray, an economics professor at Bard College in New York and a leading MMT academic. “In January [2020], MMT was a crazy idea, and then in March, it was, OK, we’re going to adopt MMT.”
So there we have it. The governments will and are, printing as much money as they want. It is tied to nothing much, just floats and gets pased around, and if you are lucky it may produce productivity growth, but who cares, as long as the debt is created in your won currency (This was the basics of the USD strength in many ways, global currency and all that).
So how do you value money now. Probably by a thumb suck, and probably not much more than a thumb suck.
The centtral banks are in trouble with the crypto's
It used to be that Trust was a key currency, but its worth considering what you trust,
Money supply now is in theory and practice infinite. Gold is not, and nor is bitcoin
good luck, get into real assets, and dont be caught holding any money, or worse, leaving your money in the bank!
best
the gnome
Please note newer supposed 4x4 vehicles engines would be ruined by running on chip fat, even these although they are proper 4X4'S not the silly things being offered by most manufacturers!
Building a serious off-roader from the ground up. The rugged 4X4 that will get you there. And get the job done.
Set up in 1988 by two former British soldiers, they have operations in over 25 countries, employing 9,000 local deminers across the globe. To do their work, they need a 4X4 fleet that is tough, reliable and fit for purpose.
https://ineosgrenadier.com/en/gb/explore/ineos-grenadier-partners/the-halo-trust
Some of the regulars including a farmer one of the country locals I frequent take take away the barrels of used cooking oil (Chip fat) and use it in their old Dahatsu Fourtracks, they run OK but do tend to smell like a local "Chippy"
Great saving on fuel cost and helps dispose of the chip fat!
The Biden administration is turning to some of the world's largest oil consuming nations to lower global prices after OPEC+ snubbed several requests to increase crude production. Reuters reports that the coordinated effort could include China, India, South Korea and Japan, and would involve releasing national crude stockpiles at a time when prices are rising at the pump. The U.S. and allies have coordinated strategic petroleum reserve releases before, with the last big effort coming during the 2011 war in OPEC member Libya.
Quote: "We're talking about the symbolism of the largest consumers of the world sending a message to OPEC that 'you've got to change your behavior,'" a source told Reuters. Crude futures (CL1:COM) -0.7% to $77.03/bbl, after dropping nearly 3% on Wednesday.
Reports also suggest that President Biden asked the Federal Trade Commission to probe possible criminal conduct in the U.S. gasoline market. He specifically pointed to gasoline prices that rose about 3% from a month earlier, even as the price of unfinished gasoline was down more than 5%. "This unexplained large gap is well above the pre-pandemic average," Biden said in a letter to FTC Chair Lina Khan. "Meanwhile, the largest oil-and-gas companies in America are generating significant profits off higher energy prices."
What is the SPR? The U.S. created the Strategic Petroleum Reserve in 1975 after the Arab Oil Embargo led to a spike in gasoline prices that scarred the U.S. economy. The reserve currently holds enough oil to meet U.S. demand for more than a month, including about 606M barrels in dozens of caverns across the Louisiana and Texas coasts, as well as small heating oil and gasoline reserves in the U.S. Northeast. Presidents have authorized several emergency sales from the SPR (Gulf War in 1991, Katrina in 2005 and Libyan Civil War in 2011), but oil swaps take place more frequently, with the last exchange happening after Hurricane Ida in September.