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Let’s hope we can stay north of 102p this week. Will be happy for any finish about that
Hi Sotolo,
Are wages and fuel for example paid in Egyptian pounds ?
if gold were to stay the same but the dollar halve, then gold would double in sterling which is what matters to us and sterling profits would go up by maybe 4 or 5 times! The exchange rate affects our sterling share price considerable and when everything else is the same a falling pound makes our share like other UK shares that make their profits abroad more valuable. Anyway with my simple maths! All the best and another thing that has been helping us, now lets have rising gold, rising dollar, and rising ounces mined.
Australia is a democracy.?
Not in my definition.
Democracy implies one (voter) has a robust choice of parties, and a party that best represents one's interests and values. This has not been the case for several decades in Oz, and I suspect elsewhere.
Whilst appreciating the history of Australia's development from comprising (very) large groups of criminals from the UK justice system, and a group of the most miserable people on earth (thanks Williams Dampier), so miserable in fact that despite living here for 60,000 years, the good few had to decalre the place Terra Nullius!? ... it is hard to consider that Oz does not have a proper representative government elected via a democratic process (lets not talk about gerry mandering, pork barreling, corruption etc)
But, democracy is a great idea!
the skeptical gnome
Sotolo the currency rates should have nil affect on the value of the product or the value of the share.
…not only to s a good week but to a great month and a stonking rest of year, since late 2015 when I rejoined the Centamin party, most years there has been a lift of starting in Nov or early Dec taking us through Xmas and into the new year. Let’s hope a few of the crypto investors notice gold moving and decide to switch a bit…here’s dreaming…
Almostdone sorry I thought we was talking about the UK and historic UK Civil wars.
Sure there are other democracies that are compulsory but I don't live in them so couldn't care less how they see democracy :)
CandidInvestor
Yep, fair comment. Here is to a good week !
Mark
Razor do you mean a stronger dollar, as the dollar is strengthening versus the pound from above 1.40 towards 1.30. Cey is priced in pounds, so it is the sterling price of gold which matters to us and if gold stays flat, and the dollar rises against sterling, the sterling gold price rises by that percentage. Moreover as Cey trades and reports in dollars, profit move is augmented by the pounds fall, so the share price rises a bit, all a small part of the great recent rise. For us rising gold and rising dollar is golden.
The real prize is for the price of Gold to rise organically independent of the currency exchanges.
Hi Ik,
I believe Australia is a democracy but:
Australia – The Australian Electoral Commission states: "It is compulsory by law for all eligible Australian citizens to enrol and vote in federal elections, by-elections and referendums." Introduced for state elections in Queensland in 1915, excluding Aboriginal and Torres Strait Islander (Indigenous) Australians.
As stated above they have not the freedom not to vote.
The weaker the dollar the better provided the POG is adjusted in situ.
The dollar is slowly moving from $1.40 to the £, to $1.30 (where it was five years ago.)
Hi,
I was wondering what people think about the prospect of a rising $ and a crashing $ over the next 5 to 10 years.
Russia, China and lots of other non western central banks have started to sell down the usd and move to gold. Naturally this is good for cey as they are a gold producer but my question is what will happen if the world does shift from the usd to say euros and china and a more diversified currency set. How do you all see the impact of such changes on the price of gold and inflation, digital currencies etc
Personally I see America slowly crashing out over the next few years and dragging the rest of the world along for the ride.
AlmostDone, People sacrificed their lives not to vote but for democracy vs "right to vote", As such, democracy is also the freedom to not vote as stated by bobliz.
Shares in Europe traded mostly lower in the premarket on Monday after Germany's incidence rate, the number of those infected with COVID-19 per 100,000 people, reached another record. The country's figure for new cases registered daily declined slightly but remained high. Meanwhile, the European Union continued to express its concerns regarding the entry of migrants into its territory.
The DAX stood flat at 7:14 am CET. At the same time, the FTSE 100 lost 0.13%. The CAC 40 decreased by 0.11%.
The euro went up by 0.09% against the dollar to sell for $1.14561 at 7:23 am CET. At that moment, the pound sterling rose by 0.06% against the greenback to go for $1.34298.
Breaking the News / JR
bobliz35 : Your point 3 in some countries is unlawful, the voting population are required to vote by law.
I personally am split on this, as I believe I should be able to not vote, but there are people who have sacrificed their lives for the right to vote.
ATB
Hi Tbbs ,good to see you are holding fast to your opinions and long may the freedom to voice them be open to you in this democracy, unlike a lot of Countries in this world.
However a few points of mine.
The Brexit referendum . First a democratic vote implies 3 options for all .
1) To vote in the affirmative
2) To vote in the negative.
3) AND MOST IMPORTANTLY THE RIGHT NOT TO VOTE AT ALL.
Next point. The European Union is the most undemocratic form of governance in the Western world. The Commission which rules the Union is an unelected body which cannot be removed by the European populace . Agreed the Union has a Parliament but the reins of power are held within the commission and have recently taken hold of the reins as to distribution of EU funds.
It is of no matter whether you like or dislike Trump but the American voter had its say at the ballot box. A similar situation will arise over Boris Johnson's tenure in a few years time and I would refer you to point number 3 above.
The very kindest regards and thanks for your massive contribution to this board.
Bob
Sawiris once again is mentioned over his Battery metal diversification..
For those interested read this mornings Enterprise Egypt News, real estate / mining.
I believe in democracy unfortunately we aren't getting it at present and from the present shower that are in government https://www.electoral-reform.org.uk/
Over the past few hundred years, our society and democracy have developed and changed beyond recognition. However, our voting system has failed to keep pace. We believe that First Past the Post has no place in a modern democracy, and should be replaced by a system of Proportional Representation https://www.makevotesmatter.org.uk/first-past-the-post
Over recent months, we have heard a number of government ministers, including the Prime Minster, claim that the 2016 EU referendum was the “largest” or “biggest” “democratic exercise” in the UK’s history.
This is not correct, if you interpret “largest democratic exercise” as the number of people participating in a vote. 33,551,983 people cast a vote in the referendum—which was 72% of all people registered to vote.
The Brexiteers have less freedom and opportunity for everyone , they were conned by the now now exposed lies and innuendo, unfortunately some of them refuse to accept and admit the truth just like our government.
https://fullfact.org/europe/eu-referendum-not-largest-democratic-exercise/
"The battle starts again," former deputy leader of the Conservative Party Lord Michael Heseltine told Andrew Pierce in the wake of Brexit coming into force."With a chapter closed last night, a new chapter opens," Lord Heseltine added, reminding Andrew of a stipulation in the Brexit deal which allows a review process of four years could lead to the UK rejoining the EU.
https://www.lbc.co.uk/radio/presenters/andrew-pierce/brexit-lord-heseltine-campaign-to-rejoin-eu/
"The last opinion poll I saw showed that that narrow Brexit vote has been replaced by a 10 point lead for those who took the opposite view. I agree therefore that it is unfinished business."
Lord Heseltine cited figures from the government’s own Office for Budget Responsibility, suggesting that leaving the EU would reduce GDP by about 4 per cent in comparison with the Covid-19 pandemic reducing it by a further 2 per cent.
https://www.independent.co.uk/news/uk/politics/brexit-michael-heseltine-b1950601.html
"First of all it is up to us who believe in a closely knit relationship with Europe to use the same determination Brexiteers did to disrupt the European partnership."
"We want it back, and the only logical answer is to argue for that decision."
Mr Cummings also said that he and his Vote Leave colleagues had “taken over” the Conservative Party in order to “try and bend it to something that’s different”, in order not only to deliver EU withdrawal but also to “disrupt” the UK’s power structures.
https://www.independent.co.uk/news/uk/politics/dominic-cummings-brexit-bus-johnson-b1887457.html
Wasted public money on destroying the environment on the environment!
https://policy.friendsoftheearth.uk/insight/opportunity-costs-hs2
Hi Mark ..
I think it best not to reveal the other 2....partly because I don't want to be accused of ramping up other shares , partly because I don't want to influence other people's investment decisions in case they lose money and partly because regarding equities , this board is for Centamin only and so I don't think its appropriate to discuss other equities
What I can say is that they are in different sectors . I am also looking for a 4th and possibly a 5th share , but with FTSE at 7300 plus it's difficult to find one . In my view most FTSE shares are now OVER valued so I will hold onto my cash for now.
Regards
Candidinvestor
Hi, may I ask what other shares you keep your eye on?
Best
Edit line 4 to ,not so keen.
Good morning Razors.
The last article about Sawiris was also reported on Enterprise News Egypt.
His fanily are also very active. A while back he tried to aquire a Bank there,that was rejected.
I am not sure the "powers that be" are too keen on him gaining evemore power and influence.
But politics there are ficklle.
Cant remember where I read about Golden Star Resources ,but it struck me the need was to liquidate resouces for better opportunities in Egypt.
Battery metals are likely in the south around Shalateens main reserve on the border with Sudan,IMO.
https://www.kitco.com/news/2021-11-11/Egypt-s-Sawiris-looks-to-battery-metals-awaits-nod-on-gold-concessions.html
It would be genus if Sawiris were to manage successfully promote Egyptian gold and not cause a rally in Centamin shares.
Gold's hot streak is still in its early innings, say the managers behind two of the largest ETFs on the market backed by the precious metal.
Bullion wrapped up its best week since May on Friday as investors bought it to hedge against rising inflation figures, the latest being the more than 30-year record spike in consumer prices. It has climbed 7.5% since its recent bottom in September and is now within 2% of breaking even on a year-to-date basis.
https://www.cnbc.com/2021/11/13/gold-set-to-rally-in-coming-months-experts-say-key-level-to-watch.html