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Yep Canetoad- there’s enough uncertainty out there to see a rise in gold - here’s hoping…
I view it very much simpler:
- If gold drops, CEY will drop.
- If gold rises, CEY will rise, except when there's negative CEY news
Gold looking positive for the past few 'hours'. Let's hope it can hold it for more than 1 day.
Sotolo
The GDX ETF chart for the last 3 months is virtually the exact of Centamin. So your comment about the company being a concern specifically is not correct. Tony
Patryk depends on whether Dec 1st news is better or worse than expected. We know what to expect but not which way it will differ, not how investors will react when we see the figures in Black and White. The price says the market is a bit worried….
Auson
40% in your example on what is probably 65% of the total cost. Productivity improvements remain the same as before. Tony
Tornadotony,
Its a vicious self perpetuating circle the way I see it. A guy I heard speaking the other day has a construction company, he was paying £10 an hour for labourers now hes paying £14 an hour.
Learnt something the other day, the USAF B1-Spirit (stealth bomber) has a thin coat of pure gold covering all of its windows - essential apparently for avoiding radar detection!
Gold in pounds up £12 an ounce since BoE decide not to raise rates. Now voicing over fiction as they let inflation rip. Putting up rates won't stop on-going inflation apparently and it will go a lot higher than planned to boot.
The answer is to buy some gold as they trash paper currencies.
1,784.42 +7.62 +0.43%
https://goldprice.org/goldprice.org
The Bank of England's (BoE) Monetary Policy Committee (MPC) voted 7-2 on Thursday to leave Bank Rate at 0.1%. The MPC voted unanimously to maintain the stock of corporate bond purchases at £20 billion and voted 6-3 to keep United Kingdom government bond purchases at £875 billion.
In the third quarter of 2021, the UK GDP grew by lower-than-expected 1.2% mostly due to supply disruptions, the committee noted, but added that the economy will return to its level from the fourth quarter of 2019 in the first quarter of 2022. The unemployment rate declined to 4.5% in the quarter to August, while the annual inflation rate in the UK stood at 3.1% in September, down 0.1 percentage point compared to the figure recorded in August.
The MPC determined "that, provided the incoming data, particularly on the labour market, are broadly in line with the central projections in the November Monetary Policy Report, it will be necessary over coming months to increase Bank Rate in order to return CPI inflation sustainably to the 2% target."
Gold price up Cey down, one would expect the opposite here esp with news on the 1st Dec… we are way undervalued and yet no reversal of downward momentum…
For a strong energetic democracy you require a strong energetic opposition. Frankly we have been let down by another bunch of incompetents
Always did always will that's a given.
Absolutely agree Mr Bond, yet our UK government still supports the US when it could be a participating and a contributing member trading and bringing about change for the better in Europe!
Unfortunately it seems that there are a majority of hypercritical self serving even corrupt politicians and ministers holding the most powerful positions in most governments the world over
What hope is there when the people of the UK elect this shower of stinkers with such a majority with very little option to replace them in the future due too the outdated and unfit fir purpose "First Past The Post" electoral system and replace them with a cross section of the other political parties!
https://www.thelondoneconomic.com/politics/full-list-of-mps-who-voted-to-rip-up-the-rule-book-and-let-paterson-off-the-hook-299796/
"If Tory MPs in Parliament reject the Standards Committee finding against Owen Patterson, it will signify that the Conservative Party is content for us to become an endemically corrupt state. "
https://westcountrybylines.co.uk/a-plea-to-the-regions-conservative-mps-show-you-are-not-careless-callous-or-corrupt-dont-let-paterson-off-the-hook/
The British opposition has reacted angrily to reports of Prime Minister Boris Johnson’s flight during COP26 climate summit. The Daily Mirror wrote that the Prime Minister flew to London in a private jet from Glasgow, where the climate conference is being held, for dinner at a men’s club. “Shocking hypocrisy,” said Anneliese Dodds of the left-wing Labour party.
https://netherlandsnewslive.com/boris-johnson-under-fire-for-hypocritical-private-jet-flight-for-dinner-at-london-mens-club-abroad/274706/
https://www.independent.co.uk/news/uk/politics/boris-johnson-private-jet-doncaster-darlington-train-time-air-pollution-a9239261.html
Johnson/Farage,Jacob Rees Mogg ,the right wing politicians press and others with vested corrupt personal interests spun the UK electorate a yarn that appealed to the very worst in people and the public fell for it hook line and sinker!
As share holders in Centamin there is little doubt that Andrew Pardey and his previous management team took advantage of our better nature and spun us a yarn and we fell for it hook line and sinker!
I challenged Andrew Pardey about the findings and concerns in both of Kees Dekker"s reports of 2015-2018 and he denied any knowledge of either, he also ignored my emails
So there we have it, conned by our present UK government and conned by our previous Centamin CEO and his team, lets hope that things are at least changing at Centamin now!
Completely unchanged in the last 3 weeks. In the background, physical must be getting bought in UK and euroland.
I would add that this cut us(SP) by around 25% in Oct2020.
Since then pretty much performed like the majority of PMs.
The sector has been unloved YTD.
Charlesrixon
The significant underperformance is tied to a guidance cut related to a shift in mining plans following movement in a localized area of waste material at its Sukari Mine.
While Centamin points to significant growth ahead (2021-2025), production is still expected to be below 2019 levels, and well below peak production levels even after operations have returned to normal.
There's your answer.
No sun — no moon!
No morn — no noon —
No dawn — no dusk — no proper time of day.
No warmth, no cheerfulness, no healthful ease,
No comfortable feel in any member —
No shade, no shine, no butterflies, no bees,
No fruits, no flowers, no leaves, no birds! —
November!
Stock exchanges in Europe traded higher in premarket trade on Thursday after several banks from the continent, including Credit Suisse, Societe Generale, ING and Commerzbank, released their respective third-quarter results. The United States Federal Reserve revealed yesterday that it will begin trimming its monthly bond purchases.
The DAX gained 0.56% and London's FTSE 100 increased by 0.30% at 7:32 am CET. The CAC 40 grew 0.59% at 7:05 am CET.
The euro was down 0.23% compared to the dollar at 7:33 am CET, trading for 1.15855. The British pound was 0.18% lower against the greenback, changing hands for 1.36622 a minute later.
Breaking the News / MS
“The man who says he can, and
the man who says he can’t,
are both correct.”
Happy Thursday y’al
Altair has a certain resemblance to some fringe dwellers that I met. Like to know what changed hands for them to get the permits ...
CEY handling by new mngt of this Burkina assett will be of great interest,
thanks
the Gnome
There are two separate BF issues regarding forfeiture of concessions & assets.
The first is a lost cause because Centamin already forfeited these (we just learned) about two years ago - Mr Horgan spoke of it briefly on the last quarterlies (it's at the 50 minute mark if you want to hear it)
Those gold resources are now in the hands of these guys:
https://www.altairresources.com/the-burkina-faso-opportunity/
Specifics:
- Altair Resources signed a binding agreement for a 90% ownership and 10% Burkina Faso Government ownership for an open pit, 3 deposit, gold exploration project containing 1,388,120 oz of gold (Historic Estimate) at an average grade of 0.95 g/t (COG @ 0.5 g/t).
- The 3 deposits are located in the south west of the country and 35km from Centamin’s Konkera project of 3.1M oz.
- The project is located in the safest area of Burkina Faso, a mining friendly jurisdiction.
Altair has commissioned a NI 43-101 Resource Estimate and completion is expected late 2021 or early 2022. This will be followed by a PEA.
- 387,596 m of drilling & 294,504 core samples completed from 3 deposits.
The second is in regards to the currently held Batie West deposit (which is an exploitation concession - i.e. permitted ready to mine) which is about to expire in November 2021. You are correct in pointing out Centamin has decided not to develop the Batie deposit by themselves and have stated they may want a partner or simply divest it.
By all means I agree with this plan - the trouble is if they wait much longer the only option remaining will be letting the permits permanently expire - which I suggest isn't the smartest path forward. I'd hate to think Centamin's board are waiting this long because they're a) too busy or b) figure it's not worth the effort - as as some current shareholders also seem to think.
Be that as it may, I'm not satisfied that the board is keeping shareholders in the loop as to what the current status of Batie West is and I would like to know all avenues are being pursued to sell/develop before we forfeit said assets, again.
So to recap - tens of millions (more probably hundreds of millions) of potential value has already been lost to Altair and a greater amount stands to be lost (to who knows, maybe Endeavour ?) if Centamin's board of directors don't negotiate a deal very, very soon.
They'll print their way out of bankruptcy.
Cowichan ...are you referring to the gold reserves found of 2.2 million ounces that was mentioned in a previous RNS , earlier in the year ?
My understanding is that it is not economically viable to extract the gold , so it is being held for sale (at its exploration cost of approx $ 36 million ). Obviously if this is the case, then any 3rd party would have to pay for this outright and also be able to extract the gold at a reasonable margin ...a project that Centamin doesn't itself want to do (even at marginal cost )
I am not sure when the deadline that you refer to for forfeiture is , but if it does come to pass then Centamin would have a write off against profits amounting to $ 36 million....ouch !
Are you talking about something completely different ?
The FED is simply trying to cover up the fact that in reallty the US is Bankrupt, from the Amrican public as is their two party political system.
The only ammunition they really have is US $ is World Resrve Currency for the foreseeable future.