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Fanatic risk taking? What are gold stocks? All on the same spectrum, you make it sound like crypto is something new, it's another method, and more new methods will come around.
Since the dawn of time people have gambled... now crypto, gold, shares, houses etc etc... the desire to make easy money and not have to do manual labour to earn money will always exist and humans will constantly invent new ways of doing this. Since the dawn of time people have gambled... from horses, footie, casino games... now crypto, gold, shares, houses etc etc... the desire to make easy money and not have to do manual labour to earn money will always exist and humans will constantly invent new ways of doing this. The most popular ones are ones that have a hook to something else, eg you need to live somewhere so need a home, you need to common methods of payment (and lessen the cost of the intermediaries), and people like nice things to demonstrate their wealth and demonstrate this. This is why I decide on balance.
Apple is eyeing a push into cryptocurrency amid soaring interest in digital money as prices surge
Subscription only:
https://www.telegraph.co.uk/technology/2021/11/09/apple-mulling-cryptocurrency-move-tim-cook-says/
Steve not lazy. Tulips were introduces to Holland in 1593, they rapidly became coveted as luxuries and started going up and down in price. Short selling was already banned in 1610. By 1634 foreign speculators entered the market. Prices continued to rise into 1636, then reached a peak and collapse in 1637. The South Sea co lasted 9 years till its collapse. Just my view Crypto is another of these but I may be completely wrong but not lazy so why not just say you disagree rather than being pejorative. Everyone’s view here is valid especially when founded, why do you think Cryptos will keep going, I suppose impressionist art and houses have but not in such a bubble like way? A final sentence from the Wikipedia tulip article to chew on: “ The existence of the plague may have helped to create a culture of fatalistic risk-taking that allowed the speculation to skyrocket in the first place”. Now far more important how many goes will it take gold to break through 1835?
Shares in Europe traded lower in the premarket on Wednesday as COVID-19 made a return to public focus. Germany saw another record rise in its rate of the number of people infected with coronavirus per 100,000. France's infections from the disease registered daily reached a two-month high.
Earlier, member of the European Central Bank (ECB) Executive Board Isabel Schnabel warned of a potential instability concerning house prices.
The DAX went down by 0.17% at 7:19 am CET. At the same time, the FTSE 100 declined by 0.22%. Meanwhile, the CAC 40 decreased by 0.13%. The euro lost 0.16% to the dollar to sell for $1.15770 at 7:38 am CET. At the same time, the pound sterling stood flat to the greenback to go for $1.35522.
Breaking the News / JR
Happy hump y’al
Tulips lasted a year Sotolo, cryptos >10years in a vastly accelerated world - lazy comment.
OK, I see BlackRock have been selling down their position as has a group of Insurers, so the supply of CEY shares on the market >> demand, so that explains the share price behaviour over the last few weeks. The Blackrock view is below, and so their sell down is across the board, and I would imagine a lot of sycophants would follow their lead.
"BlackRock Inc. fund manager Russ Koesterich has sold almost all of his gold holdings on expectations that real rates will normalize as the global economy rebounds.
“Fourteen months ago, we had a fairly significant position in gold. Today, we’ve reduced it to almost zero,” Koesterich, the manager of the BlackRock Global Allocation Fund, said during an interview with Bloomberg Television. “If part of our view is that real rates normalize a bit, that particular commodity is unlikely to work as well as it did in the middle of 2020.” '
I think the thinking is delusional. Gobal economic rebound? The costs of business are very high, logistics/supplies 6-9 months and costs of sending materials around is unbelievably high. Wages and salaries (10-30%) are going up, workers are moving on, so there is a game going on to increase salaries to attract and keep the best. Real producitivity is mired in more bureacratic red tape, adhoc covid related protocols, Energy costs up (Fuel by 30-40%). Real estate unsustainably high (up 20++%). We are massively short on skilled workers, and very hard to get them into Australia, and West Australia is just about to put up its walls to the rest of Australia (and some say its due to the inability of the health system to cope with any covid outbreaks of significance? not sure what the government has been doing with the excess cash from the iron ore price extravaganaza?!!) Flow on from various emissions issues will increase costs.
So the global economic rebound is a big bet, and I will sit that one out, and position for a slow creep forward.
Political leadership abysmal (somethigs dont change - sigh)
Warren Buffett’s Berkshire Hathaway reported a two-thirds decline in profits in the third quarter compared with the same period last year, while its cash pile hit a new record despite increased share buybacks.
Inflation spiked, interest rates similar???...I think higher for longer will be around for lot longer ... more like a mountain range looming not a spike.
best
the gnome.
Candid, hopefully yes, looking at the past gold should now rise as real interest rates look very likely to fall further. However historically as said the opportunity cost of holding gold is versus bonds, whose real rates are going even further down, good for gold. Butnow gold is also competing with qe elevated shares and cryptos, so when that tulip mania bursts and the dust settles gold will hopefully be off to the races. However this summer I visited the stunning Houghton Hall that Robert Walpole built on his south sea bubble profits, these things can go further than you think possible,…..
Wow.....thanks Tibbs for your kind remarks . They are both appreciated and reciprocated.
Yes it has been a steep learning curve , but one I am enjoying immensely . I am retired now so I have time to contribute in areas where my strengths lie .
I have also found it extremely useful to gather the knowledge , thoughts , hopes and fears of all members of the forum , too many to mention , but please be assured that any contributions I do make, are done so with the spirit of good intention.
Yes I agree, together we make an effective group , and if I may say so , you are the glue that holds it all together
Best Regards
Candid
Hi Candid,
i appreciate that buying into Centamin has resulted in a bit of a steep learning curve understanding and coming to terms with all the issues that lie under the surface as it were!
So I felt it only right on behalf of all the forum members to to express our appreciation for all the investigative/analysis work on past company reports,etc you have undertaken and then shared your findings with us.
It must be said that your efforts have certainly proven to be eye opening in some very important respects and no doubt of great help to Cowichan in his ongoing quest for the truth on behalf of all share holders.
Tibbs
Sayed Gomaa - Head of Geological & Technical Review Section at Shalateen Mineral Resources Company.
2h • 2 hours ago
AkhGold is now hiring graduate geologists for its Egyptian exploration team. Qualified persons should send their CVs to:
careers@akhgold.com
https://www.linkedin.com/posts/sayed-gomaa-33b291205_akhgold-is-now-hiring-graduate-geologists-activity-6863863821245779968-sNnL
-------------------------------->>>
Never have I ever seen Egypt's state owned Shalateen advertise jobs for Centamin or Aton - but now they are advertising for a Sawiris company?!
What does this mean? Does Shalateen have some arrangement with Sawiris that obligates them to do this man's bidding? Are those concessions above and below Sukari in danger of winding up with Akh/Altus or even Endeavour? Strange things happening...
I’ve heard of it Mr T but don’t really know anything about the detail- I recall it on this board a while ago. Thanks- will take a look at some point.
Hi Steve,
Its possible to pay bills with Kinesis and earn interest on your spending,the Kinesis system can also be used to send gold across the globe in seconds with minimal transaction costs.
However because the card has a bank account attached to it, it offers cardholders the functionality of a debit card, including payments, deposits and transfers as well as cash withdrawals. People can also be paid salaries directly into their Kinesis account and, using the Kinesis Money system, users can store their assets in gold and convert it to cash in seconds when needed. It can receive top ups of up to $20,000 as opposed to the $500 for the virtual card. This can all be managed in the newly redesigned interface of the Kinesis online and mobile platforms.
The new banking functionality of the system can also facilitate financial inclusion. People can often lose their bank accounts because of poor credit, so this provides an option for everyday financial purposes, such as paying bills, shopping and receiving funds.
https://kinesis.money/
https://renaissancemen.org/2021/07/04/kinesis-money-honest-review-incredible-company-promise-with-some-growing-pains-being-worked-on/
So it seems seems an individual or company could be earning around 7% interest on some of their spare cash if held in gold bullion in the Kinesis audited Swiss vaults with instant access to their funds, they could also be earning around 0.5% on all spend via the Kinesis Visa blockchain system.
Yep Canetoad, I mentioned this a while ago :-). I still think gold has legs though, it's not, for sure, an either or. It does feel like it's trying to break out, which is why I keep my CEY and POLY for now.
Fingers crossed for all here, PMs are still generally way undervalued... for now...
hedgehogg,
I think Bitcoin is more worthy of the $1Trillion+ market cap than Tesla !
Bitcoin market cap $1.273Trillion
Gold Silver and Plat market cap $13.237 Trillion
Gold market cap $11.598Trillion
Silver market cap $1.381Trillion
Platinum market cap $0.258Trillion
Could you make payments with the dot com boom? Many dot com boom companies are worth an absolute fortune now
I have my own comparison of Bitcoin to the Dot.com boom :-) Im not saying its worthless, but I think its well beyond its true value. Time, and a real market correction, will tell.
Thankyou tibbles, Bond y Rebess
We have a problem (re: comparison of bitcoin to gold)
Hargreaves Lansdown: "The recent surge in the crypto asset partly seems to have been caused by investors piling in, seeing it as a hedge against inflation."
JP Morgan: "We believe the perception of bitcoin as a better inflation hedge than gold is the main reason for the current upswing."
https://uk.finance.yahoo.com/news/why-price-bitcoin-pushing-highs-153045833.html
Cowichan . I think the board are appearing to be a safe pair of hands to get through the current turmoil, and that is to their credit . I suppose the issue I have with them is what I perceive to be a lack of ambitious intent going forward .
With regard to your comments on BW, am I right in thinking that CEY still have time to act ?
Yes I agree ..what makes it even more undervalued is the $300 million in the bank ..so if the market price is paid , there will be a nice $300 million tucked away in the bank , to start you off with , once you have bought.
Paul M. Yes what you are saying does make sense due to the phenomenon of ' pound cost averaging '
CaneToad...thanks ..linking the gold price to FUTURE expectations of inflation makes sense ..
Sotolo...thanks also...you have taken this one stage further and linked the future price of gold to 'real ' interest rates, and produced strong empiracle evidence ( minus 0.8 correlation ) in support of that
This would suggest gold rising further in the weeks / months ahead , based on future inflation and interest rates forecasts ...have I got that right ?
Well the next big thig in precious metals has been a nounced by the CEO of the ocmpany which owns it. Funny about that, but thats the mining business. Casinos have rules about the game, but the market's regulators can be missing in action....
"A veteran analyst says Chalice Mining has made the best discovery of platinum group elements ever seen, after the first official estimate of the six metals in Western Australia’s Gonneville deposit earned the pre-revenue explorer a $3 billion market capitalisation." and how much money does the mug investor make? A: A little less.
PNG is at the old game, of changing the rules during the investment cycle, and head towards a tad more nationalisation, but who wold blame them?
The New Generations Gold Conferece in Perth celibrates some new exciting marginal discoveries that hardly justifies the $billions of money invested in exploration.
Suplly remains <<<< demand
good luck punters
the gnome
Haha- of course no one knows that one :-).
I'm not increasing my position, as my most highest risk asset, seconded by gold stocks (less risk). I only back the main cryptos, I certainly see 100k in the near future. I am also prepared for it to drop of a cliff, as got in early- although this is less likely day by day. I recall arguments with people when it was 3k, "couldn't possibly double from here, way to high now" etc etc... I've posted the reasons before why I continue to hold cryptos, and this remain, and get stronger as the days pass. The big drop in XRP for example, the biggest crash on my portfolio, soon bounced, despite the dire news. If you believe in the tech, understand it (it's not that hard), then take your choice. I heard an investment chap only yesterday stating that also crypto mining is using up a lot of energy, they were already in the throes of tapping into overflows of sustainable energy produced in Africa. Like all electrical devices, computers don't need fossil fuels.