Centamin PLC Share Chat (CEY)

Hi miz - Kinesis will be a new monetary system operating within blockchain/crypto technology. The system involves two distinct digital coins. The coins are described as Kau and Kag. - The Kau is the gold-coin and is backed by 1gm of gold, the Kag is the silver coin and is backed by 10gms of silver. The price of the coins being linked to the price of the metal that backs them. - They can be redeemed for the gold/silver they represent. - In the cypto-world they are known as stablecoins because of the underlying value of the gold/silver that backs them. - The gold/silver backing the coins will be stored in ABX vaults, where, currently, 6 monthly audits are planned to be conducted by a recognised professional firm of independent auditors. As the system grows there are plans for monthly-audits. - Hope this helps with your understanding. - In addition to the coins there is a product called a KVT. This stands for Kinesis Velocity Token, this is not backed by gold or silver. KVT's limited to 300,000 in number and priced at $1000 each, is the way that ABX, the parent company, has chosen to raise capital to fund the project - In return they receive 20% of the fees generated by the Kinesis Monetary System. A fee of 0.45% is charged on every Kau/Kag transaction. The 300,000 KVT's are entitled to receive 20% of said transaction fees for life. In addition, the KVT's can be sold into a secondary-market, just like a bond. - As an appointed 'Ambassador' of Kinesis, I shall be pleased to answer any questions you or others may have in connection with Kinesis. - Feel free - Good luck.

Absolutely disgraceful the way the US blackmails, threatens and manipulates the rest of the world.
Although this US skulduggery has been going on for decades it is much more difficult to keep in the shadows now since the growth and availability of the of the internet and certainly the election of Trump who can't resist spouting off on Twitter at every opportunity!

Hi Mizolgit,
Thank you for your reply, I too respect you and your right to free speech, also I agree with your opinion on the ETFand paper scams.
As to Kinesis it is unlike any other Crypto currency and unique in that as it will be backed 1OO% by physical gold in the ABX system that is available for delivery any time investors should care to request it.
https://abx.com/
Perhaps if you knew AM you may realise he is a man of integrity who has been subjected to relentless bad mouthing campaigns by the trolls some of whom are employed by those who are keen to keep the status quo.
https://www.youtube.com/watch?v=zVXBCpfkYBY&feature=youtu.be https://www.youtube.com/watch?v=zVXBCpfkYBY&feature=youtu.be
https://www.tfmetalsreport.com/podcast/9223/update-kinesis-monetary-system

Well the banter around the Huawei legal action is interesting and I am sure the legal and trade bartering will be even more interesting. There is some form by the US which is worth revisting. In April 2018, the Commerce Department issued Chinese telephony maker ZTE with a “denial order” that stopped it buying equipment from US technology suppliers. ZTE, which is far smaller than Huawei, had already pleaded guilty to violating US sanctions against Iran, and for lying to the US government. Until it was rescinded after three months due to President Xi Jinping lobbying President Donald Trump, the order crippled ZTE’s operations. Then in October 2018, the Commerce Department invoked an economic security argument to impose export controls on memory chipmaker Fujian Jinhua. This action also followed criminal indictments alleging that Fujian Jinhua stole trade secrets from US rival Micron. It seems that being choked off from US technology will cause Fujian Jinhua to stop production by March.

The charges Huawei now faces include similar complaints and it seems likely that the Commerce Department will follow up these criminal indictments with a similar denial order. Huawei is less dependent on US suppliers than ZTE, but without access to US technologies ... even it will not survive long. Hence, in order to seek relief, the Chinese firm will need to negotiate with the US government. A ZTE-like outcome seems fairly likely: Huawei will pay a large fine and accept US monitoring in order to access US technologies. We monitor, they monitor, everyone is monitoring ...

There are other factors to consider ...aside from being bigger than ZTE, Huawei makes more advanced equipment, and since 2012 has been regarded as a threat by the US government (and I could throw in the Oz govt, but lets not go there). In the last few months, the US has been successful in lobbying its allies to stop using Huawei’s telecom equipment (OK, I went there). The fact that Huawei’s CFO was arrested when transiting through a Canadian airport may point to elements in the US government wanting to pursue Huawei more aggressively than it did ZTE.

But we do live in interesting times ... and I think it is reasonable to assume that US muscle will come to the fore, as will Chinese negotiation skills .....

go gold, moving nicely .....the gnome

“My new theme for 2019-2020 is balance sheet, it doesn’t matter which sector you are talking about, you want the best balance sheet in each sector,” O’Leary said, adding that it is more relevant now than the last three years..

and CEY has a very impressive balance sheet ....

good luck to all ...
the gnome

Lets hope Josef pays more attention from now, and guides the company into more growth, learning from his mistakes and his meanderings.. His past performance has been very medicocre in my humble opinion, and he needs to demonstrate he has the smarts and the goods, my guess is CEY is about 30% undervalued at the moment so this si what Josef and his board should be focussed on delivering. ... The board needs to play a larger role than they do at the moment, all looking very relaxed and comfortable ....being born with a silver spoon, does not guarantee a golden performance ....I guess to be fair, the share price of FTSE 100-listed silver and gold miner Fresnillo (LSE: FRES) has declined by 30% since the start of the year, while Centamin (LSE: CEY) have fallen by 27%. They are therefore int he group of the FTSE 350’s worst-performing gold shares of 2018. Centamin’s PEG ratio of ~0.7? also suggests that it may also be undervalued. The production disruption in recent months has contributed to its share price fall. Indeed, the first half of the financial year 2018/2019 has been disappointing for the company, with gold production declining by 25% in the second quarter.

However, it remains on track to meet production guidance for the full year, with the company expecting a significant ramp-up in production in the second half of the year, so this is what the board has to deliver. Although it is reliant upon the Sukari mine, the asset offers significant production potential over the long-term, as well as a relatively stable political outlook. Alongside a dividend yield of 4-10% which is covered 1.6 times by profit if 4%, its overall return prospects seem to be high.

With the potential for a full-scale trade war between the US and China escalating weekly, and now with the US unveiling criminal charges against Huawei, investor sentiment for various equities could easily come under pressure in future. In such a scenario, gold shares such as Centamin could become increasingly popular after what has been a disappointing 2018. https://www.ft.com/content/ff000e70-233c-11e9-b329-c7e6ceb5ffdf

There is a lot at stake in the Huawei move by the US legals, and one hopes they have mapped out their options. Significant US Corporates (Apple) sitting on the sides... The Chinese have been long known to have a cavalier attitude to IP and perhaps we can see some very important boundaries drawn on IP, but this will be slow, painful and I can see trade wars coming up and being protracted.

What an interesting world we live in !

the gold gnome.

Mr T ,your and your views. I respect and free speech.
But Mr Maguire is not god.Cryptos and even Kiinesis are no different than paper gold, not 100% backed and audited, no different than the federal reserve.
We have been through this crap months ago.
Kinesis is backed by a tiny proportion of physical gold, ,so is not much different than the ETF scams, which will eventually become evident, if a grand crash comes...
When I say not audited I am wrong, but it certainly not backed by 100%Gold so it is not what it appears to be,,is it another paper scam, ,I do not know for sure ,but it is far from clear.
So like bitcoin and the dot com scams it is best do not touch,.
I am sick of smart arsed scammers.
Of course I might be totally wrong. lol
Even if you do not agree ,it is worth thinking about.

With gold at 1302 the share price should be 125 at least

Re kInesis, you may be surprised just what effect this will have, I understand that negotiations are in the final stages involving a sovereign wealth fund who want to buy all that is available and more.
Should make gold jump a bit!

Quite so. like so many of the gold ‘pumdits’ with something to sell, always saying gold will soar, of course randomly they should be right about half the time. And the Kinesis gold backed crypto that never makes a difference. The only one I now follow is Gary Wagner, but then he has nothing to sell, he has called the falls pretty well, including last autumn, and now sees us in a wave 5 that will take gold above its previous high in next two years. Do hope he is right.

Hi market, glad you popped in.
Yes bit of a turnaround Josef coming back,, lets' hope its for the right reasons.
Although perhaps it is thought that his return may make his huge share disposals look less suspicious?
Rebess does have a good point though regarding watching for any large disposals in the future.

Look what he is up against though, at least he has the courage to speak out against the market corruption and manipulation.
To be fair to AM he does have proof of what goes on , even the support of regulators but they are either afraid or unable to act as they would like because their hands are tied by their master who fear the financial consequences if the merry go round is stopped abruptly!
I agree KWN could be better presented.

Hi Market - 'The man is back in the chair' - Indeed he is. - The mystery-man, the enigma, the 'what's he up to now man'. - Yep , he's back behind the wheel. - I don't know about buying when he does, but we definitely should have sold when he did. - For all we know he might want to sell the rest and wants to re-position the SP in order to do so. At least if he does, we will recognise it as a strong selling signal. - Won't we ? :-)

Oh dear very political tensions running high, for me put a tax on paper gold trading it needs to be at least 5% worldwide. The man is back in the chair I will buy when he does. x

Andrew Maguire. Oh dear. I followed him on twitter for a while. A busted flush if ever there was one.

As for King World News - are you serious?

Jeez

Typo below should read
Farage and UKIP used in their propaganda prior to the referendum has now been proven to be misleading,inaccurate, partly or completely untrue.

https://kingworldnews.com/andrew-maguire-1-26-2019/
After correctly telling King World News on January 11, that pullbacks in gold and silver would be very shallow and short-lived, today London whistleblower and metals trader Andrew Maguire told KWN that we have never seen so much liquidity flow into physical gold and silver.

Hi GoldGnome,

There are all sorts of misconceptions about the membership of the EU and lot's of what Farage and UKIP used in their propaganda prior to the referendum has now been proven to be either misleading,naccurate, partly or completely untrue.
It is alleged that Farage who claims to be so anti EU has applied for German passport?
https://www.quora.com/Why-did-Nigel-Farage-try-to-gain-German-citizenship-despite-being-the-head-of-the-Brexit-movement
He is an MEP and it is stated that his expense & allowance claims are amongst some of the highest, yet he supposedly disapproves of the European Parliament
As you may or may not be aware expats were not allowed to vote in the EU referendum and yet if the UK leaves the EU these EX pats may be able to vote in future UK elections, so why were they denied a vote in the referendum on UK membership?
https://www.thelocal.fr/20181126/european-court-rules-against-british-expats-challenge-over-illegal-brexit
https://www.gov.uk/government/news/government-delivering-on-pledge-to-give-back-british-expats-the-right-to-vote
https://www.theguardian.com/politics/2018/aug/14/british-expats-in-eu-launch-brexit-legal-challenge
Also
The potential loss of European Union (EU) culture funding will hit the most pro-Brexit regions of England hardest, new analysis by AP has found.
https://www.artsprofessional.co.uk/news/loss-eu-arts-funding-would-hit-pro-brexit-regions-hardest
Can the UK opt out of EU law?
The UK is not the only country to which EU legislation selectively applies, but – with exceptions in four key areas – it is the member state with the most opt-outs. Perhaps, most notably, the UK is not a member of the euro. ... From the Lisbon Treaty, Britain also secured opt-outs from justice and home affairs legislation.12 May 2015
There are currently about 12,000 EU regulations in operation in the UK. The government plans to copy over the vast majority of them word-for-word into UK law on 29 March, the day if the UK leaves the European Union for good.19 Oct 2018
https://fullfact.org/europe/british-influence-eu-council-ministers/
https://fullfact.org/europe/does-most-uk-trade-happen-outside-eu-and-trade-agreements
https://www.bbc.co.uk/news/uk-politics-41859691

Lots of interesting conversation this weekend - a nice change from the quiet saturdays & sundays of old

You sound like a history buff - I spotted this event which may be of interest for you if you're in the Melbourne area:

Money, Trade and the Human Experience is a lecture series run in partnership with the Melbourne Museum. 27 February 2019 explore the History of Money, from the very first bartered coin, to the complexities and enormity of the blockchain -

I'm sure the subject of gold will feature prominently during the event

Cheers!

No audit of the gold reserves. I love Ancient Aliens because of the stories they dig up rather than there conclusions. One was the theory that the US gold reserves were actually sold off years ago (or given to Aliens LOL). But they recounted how when Germany asked for its gold back from the US who had been "keeping it safe" - they kept stalling - and eventually France gave them gold on behalf of the US. So I googled it and sure enough - that's the story... Does the US have any gold in its reserves - it hardly matters because the total reported gold reserve is a small fraction of their national debt... again I googled it and this checks out. How long would to take the US to collapse and what would happen then ??

So why has would Fed been forced to halt by Trump ? Well if China reflating and UK and Europe are heading for dogmatic suicide, the only way of keeping his economy afloat is to boost home demand and drop the dollar.Iinitially stocks will rise but does this look like 1928 or what ??

When you say belief in paper, well thats only part of what goes on. It's a belief now in digits on an electronic screen thats most fundamental, and everyone knows how easy it is to create them? The velocity of money precludes the printing and passing of paper. And now the electronic whiz masters, have invented a variant of the game of tennis, whereby they serve one currency and another electronic currency is returned, FOREX trading....Daily volumes in March 2018 reached $1.855 trillion...but it does not stop there ...
Average daily volumes of spot and derivatives currency trading touched $461 billion in March 2018, slightly lower than the record month of February when volumes hit $463 billion...its just all serve and return, push and pull, clip the ticket, make a small margin, and do it all again. Quite pointless, except they are using money to make money which is the point of the game, and why get your hands dirty with all of the physical stuff, and associated logistics..its too slow for the money men, and they must make a lot of money now to support lifestyles. You now really dont have to have anything to back the money..but as you say, watchout when the music stops...and there will come a point at which people no longer trust the electronic number on their screen, ?the Russians have hacked or the Swiss?, or the money men in the good ol' City of London, and they all relasie that there have been additional arbitrage added to all transactions for the past 25 years...I feel a novel welling up inside of me...! Enjoy the rest of the weekend. We celebrated Australia day yesterday, and of course there were endless protests by some ....the gnome, who has a fondness for gold ...

Just seen the pog - don't think I have enough of these - and hung off buying SPGP because it didn't seem to want to go up. Got CEY, HGM, FRES and WSBN at weight and GGP underweight as I expect the usual disappointment following the rise. Need to be seriously overweight in CEY, HGM, FRES and SPGP now - seriously overweight. Need to buy POG and HOC as well. Wonder what dips we'll get next week ? Dow, S&P and Nas all rose as dollar tanked. I don't accept the "tensions" business - the real rumor must be that the FED is going to stop hiking rates … liars, liars pants on fire I say.

Thanks MrTibbs, Its fascinatng to watch the UK Brexit, and the wider working of the EU from afar. It seems somewhat that one of the driving forces is to re-create the grandeur of the Roman Empire... the re-creation of an over-arching political structure for Europe, and use the Roman empire as a model, of course it all ended in tears in 400-500 AD. In 800AD (new model)—more than three centuries after the fall of Rome—Charlemagne, the king of the Franks, had himself crowned in Rome by the pope. His new empire stretched from the Pyrenees to the Danube and from Hamburg to Sicily; and his imperial seal bore the words Renovatio Imperii Romani, “the Renewal of the Roman Empire”. But the propoents of this thiought must also have a good idea of how they are going to overcome the same problems that overcame the Roman Empire (and Charlemange, Happsburgs etc and the other unsuccessful models thta they no doubt have studied very carefully). ..., individual groups of people liking their own space and their own authority over that space, debasement of currency, excessive taxation, crippling bureacracy, corruption of many flavours, administrational inertia, nespotism..that led to the kindom to being split into two, and then finally overun. Given the way the EU has developed, it appears that they are well on target to end up just like the Roman Empire, but probably make this achievement well inside 400 years and possibly within 40 years. One of the events that caught my eye some years ago, was when the European Court of Justice ruled that the European Union can lawfully suppress political criticism of its institutions and of leading figures, sweeping aside English Common Law and 50 years of European precedents on civil liberties. The EU's top court in 2001, found that the European Commission was entitled to sack Bernard Connolly, a British economist dismissed in 1995 for writing a critique of European monetary integration entitled The Rotten Heart of Europe (now published as a book). There were going to be no more internal violent conflicts in Europe, but no one told the Serbians and Croats. And it would have one currency which would be supported by an agreed set of laws and behaviours, but no one told the Italians and Greeks. ... and on it goes ....

Hi Rebess,perhaps soon there will be reckoning with the paper market.
The amount of physical the Russians and most of Asia have accumulated is not without a purpose.
The dollar and Fed cannot maintain momentum forever .
The sanctions are a disaster equally for them as the rest of the world.and of course their budget deficit gets ever larger..
It has been a wake up call to those holding their bonds..
Trump should know from his experience ,but does not seem to address the debt,but his companies have been bankrupt four times,,he didn't suffer ,somebody else did..
Those who lent the money.
Of course printing more paper only works if others believe in the paper.,
.It is becoming apparent that far fewer do.
No audit of their gold reserves ever,very odd ,perhaps their reserves are gold plated tungsten .or just hot air.!!