Stephan Bernstein, CEO of GreenRoc, details the PFS results for the new graphite processing plant. Watch the video here.
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U.S. debt run up to counter the effects of the virus pandemic alone is estimated at comfortably over $3 trillion and continues to grow at a substantial rate. However this is only a small part of the country’s huge national debt position. Total debt is put at over $28 trillion and interest alone on this is around $1billion per day and is expected to double in the next decade. The size of this debt is such that it is highly unlikely it can ever be repaid which could lead to a continual weakening of the dollar index over time, which should be gold positive in the medium to long term.
https://www.sharpspixley.com/articles/lawrie-williams-currency-devaluations-ahead160;-hold-gold_10451.htm
I am beginning to think that the old $1200 has been replaced by the new $1800 - the accumulation level for the next big leg up for the gold price. Hopefully it will not take so long for the big buyers to load up this time. I was very encouraged to see that huge contract dump a few weeks ago was quickly covered and we've got back to 'the range'. A little upside to the gold price on the dollar's fall this last couple of weeks has been OK - I wish it had been more; perhaps there is more to come. It's a bit of a grind.
I am reminded of that report from Fidelity Investments, which I've never read, about how the dead outperform the living when it comes to investing. The dead just can't keep tinkering with their portfolios. It's a bit extreme, dying to become a good investor, but I keep telling myself the long haul is best for me.
It's an old story, but the following link shows that gold for a long-term hold isn't a bad thing; you just need to stay alive.
https://www.bbc.co.uk/news/uk-england-shropshire-39655769
A teacher friend of mine asked her pupils (about 10 year olds) to write a story about why the coins were put in the piano in the first place. Almost all the kids wrote something about the parents splitting up, and one of the parents was hiding their wealth from the other because of the divorce settlement.
How sad!
In reality, I think the piano coins were hidden because of WW2. The government restricted gold ownership to 3 sovereigns (I think) and that law was not rescinded until 1968 (I think). Will history repeat?
Take care.
Still a great entry point at sub 100p it's probably the best opportunity around just now?
I get the feeling the gold is going to have a decent run now and for several years, and I am with you MrBond, it looks like CEY production will ramp up very nicely with the Gold Price, and with no forward sales (etc) this is going to be very good for CEY.
2021 margin on sales-AISC of approx us$750/oz should see some healthy cash flows, and 2024 targeting 475,000 ounces at <$950 an ounce AISC, is going to do even better if the gold price runs north of $2000/ozs.
The Central Bankers and politicians seem attracted to reliving the 1970's (Robert Gordon’s magisterial account of The Rise and Fall of American Growth is a great read - he challenges the view that economic growth will continue unabated, and demonstrates that the life-altering scale of innovations between 1870 and 1970 cannot be repeated...contends that the nation’s productivity growth will be further held back by the headwinds of rising inequality, stagnating education, an aging population, and the rising debt of college students and the federal government, and that we must find new solutions...and now we have the pandemic! ), which was a turning point in US economic history, thanks to a sharp slowdown in meaningful (!) economic innovation.
A larger body of more recent work now finds that productivity growth has been slowing in the 21st century, and a very large proportion of the workers have found no growth in wages and salaries, and now the pandemic and the "government management" looks to be inflicting another heavy blow. Housing prices are rising at an anual rate in some cities in Oz at up to 80% in the last 12 months, and one does wonder how this is going tobe paid when there is not even a wiff of productivity increase, but there are some whiffs of interest rates rises. With the equities, its hard to lose money (in fact the only way to lose money today is to have cash in the bank..or bonds) the ASX top 20 has risen 25% in 12 months, ASX 100 up 25% ASX 300 up 25%, and there must be a few who would be nervous about this position.
In the US in recent years, first the Trump tax cuts, then pandemic-related catastrophe relief, and now progressive plans to expand the social safety net (and health?) have hit the federal budget hard, and now the embarrassment of Afghanistan, fast after the disaters in Iraq, Syria, Libya. Will the US military machine seek to re-establish itself, yet again? Plans to fund these costs by raising taxes only on the rich will likely fall far short, and with no wage growth for the plebs and middle class, (and we won't mention quality jobs) very hard to see how its all going to work?
back to the footy for me
the gnome
You have contributed nothing to this board. Zilch Nada. Go and infest somewhere else.
popped onto here to have a catch up/read on Cey discussion. Had to check i hadnt accidently gone to that political moanfest board that is Lloy.
Seems some people just cant accept things and move on, several years later. Sad really, must have a real boring life to keep carping on about the past.
do you just come on here for an argument tibbles, seems so doesnt it! why dont you take your usual political trash to a political site, we are fed up with your constant bias. you lost the referendum , get over it!!!!
The Met may have dropped the case , doesn't mean he didn't bend the rules and misinform the public
https://www.opendemocracy.net/en/dark-money-investigations/new-email-release-shows-how-leave-campaigners-used-vast-loo/
I have yet to see any credible evidence of any improvements as a result of Brexit.
Where are the savings we were promised?
Travel to th EU is more expensive and inconvenient , roaming phone charges are back1
UK holidays are more expensive, yet the service and quality in generally not as good in comparison to that on the continent
Crops rot on UK farms because the UK workforce don't want the work.
Supply chains to businesses are in a shambolic state.
Loss of EU markets for our UK businesses putting 500,000 people out of work.
Imports to UK form 9000 miles away instead of 200 miles away create greater carbon footprint
Wales has lost EU Funding of 250 million euro and been given £100 million by the government. that an improvement is it?
I could go on but the list is endless, bur where is the advantage to the UK , it certainly isn't apparent this far?
I think you posted on the wrong BB.
I’ve recently retired and had hoped to spend a significant proportion of my time travelling through Europe. I’ve now, of course, lost my rights to free movement within the EU member states. I’ve looked at the visa options now that the UK is viewed as a third country and there is nothing suitable. I’m therefore stuck with the Schengen rules. This is just a single example of what Uk citizens lost post brexit. From what I can see, the UK is now a wholly fractured society and won’t heal anytime soon. I fully understand mrtibbles viewpoints and support him all the way but what a great shame it is to see what the country has turned into. Does anyone really think the gov’t is fit for purpose? Apologies for being off topic.
Sotolo,
The turn around is progressing to plan at Centamin,as we know this was always going to be the hardest year, look forward to seeing some evidence in 2022 that the turnaround really is taking place as things progress to more sustainable and predicated guidance levels in 2023.
Mr Tibbles, that is down to the failure of government and businesses not Brexit. Darren Grimes and vote leave were subsequently cleared and the Met Police dropped its case. They were fined for a failure to provide an accurate spending return.
@ 17:38 - I certainly enjoyed those lines because it's been a hard ride of late.
Incidentally Biden and Boris worry me.
And am taking the view that the $ and euro are shot.
Can you buy now and make the next dividend in November thanks.
Mr Zambian, The Brexiteers seem to think they can carry on bullying people to accept a decision by the government with vested personal interests that was based on lies and innuendo as will become apparent as time goes on unfortunately everyone and future generations now have to suffer the consequences and inconvenience for no good reason.
Where is the credible evidence to support the allegations of EU corruption?
The Independent
UK food supplies set to worsen as more Brexit red tape is introduced within weeks, businesses warn
Ben Chapman
Sat, 4 September 2021, 4:10 pm
The UK's food supply problems are at risk of getting worse because of additional Brexit red tape which will come into force in a matter of weeks, businesses have warned.
From 1 October the UK will begin carrying out checks on paperwork which must be completed for imports of meat, dairy, and some other types of food from the EU.
On 1 January, physical checks will begin on shipments of the same products. Goods which are not compliant are at risk of being turned away.
Until now, while EU countries have rigorously enforced veterinary and food safety checks on shipments coming from the Great Britain, the government has waived the requirement for goods going the other way.
https://uk.finance.yahoo.com/news/workers-face-highest-tax-bills-153046409.html
‘Red Wall‘ and other poorer areas of England will lose up to £1bn of development cash this year because of Brexit, despite Boris Johnson’s vow to “level up” the country.
The government promised to match the grants – to build local economies by attracting businesses and jobs – when the UK left the EU, but has yet to set up a promised replacement fund.
Instead, just £220m is being made available across the whole of the UK for 2021-22, and no money has yet been handed out at all – even though the financial year is nearly halfway over.
Areas of the North and Midlands, many of which switched to the Tories at the 2019 election after the prime minister’s “leveling up” pledge, received £500m a year from EU Structural Funds, new analysis shows.https://www.independent.co.uk/news/uk/politics/brexit-red-wall-levelling-up-b1901999.html
Absolutely , but I sold Lloyd's years ago because it is a dead dog of a share and bought Centamin instead.
Lot's of upside to Centamin , no hope for UK banking I'm afraid!
Ex pat are entitled to vote in UK general elections , however they didn't get a vote in the Brexit despite holding UK passports , so it can hardly be regarded as a democratic or even binding result .
Brexit campaign group Vote Leave has been fined £61,000 and referred to the police after an Electoral Commission probe said it broke electoral law.
The watchdog said it exceeded its £7m spending limit by funneling £675,315 through pro-Brexit youth group BeLeave.
The founder of BeLeave, Darren Grimes, has been fined £20,000 and referred to the police, along with Vote Leave official David Halsall.
Vote Leave said the "wholly inaccurate" report was politically motivated.
https://www.bbc.co.uk/news/uk-politics-44856992
Strangers arguing politics with strangers on a share chat site zzzzzzzzzzzzz.
Try the lloyds page.
Surely this is not the place for continuing Brexit postulating, rather what affects Cey and where next. I said I would be surprised if Centamin could end Friday at 100 but was hugely pleased it made 99. Us long term holders are waiting for the truth of negative interest rates and money printing to sink in finally lifting gold, and cey to recover its production and more important it’s far increased costs…..one day but of course it would be lovely if it was this autumn. Cey now is particularly geared to the gold price with costs so high so if gold were to rise it should do better than most miners. Now pop down the pub and argue about brexit, old cars, Boris Johnson, how everything used to be better (not) etc
A good rise in the price just when production starts to ramp up would be very nice.
Britain is a small fish in a big sea as regards PM's B3 will and is fundamentally changing the landscape where physical matters, demand for PM's is gaining momentum. Argue all you want but the numbers speak for themselves and it will play out in the coming months.
I do not agree with your opinion & nor do many others. As is typical of those who favour the left side of politics you are all for democracy until it goes against your views at which point you claim the system is rigged or those who voted against your wishes are uneducated fools. I have no intention of debating the issue with you as debating with blinkered, one-eyed people is pointless.
Mr.Tibbles to call voters sheep on either side of the Brexit argument is shallow.It gives the impression you are superior and you knew better than the majority of this country, who did democratically vote leave whether you like it or not.Lies false promises were told equally on both sides.In my opinion people voted more on this country's immigration position rather than anything to do with economics..regards....
I would agree Gnome.
But the power structure in Governments left and right wing will do their utmost to resist changing the Status Quo, for selfish reasons so the system will not change ,including families and friends deep within the City.
Short of a French style revolution I unfortunately see little change .
Whilst I agree with you on the current government and how inept it is, I take issue with your Brexit comments once again. It's unfair to make disparaging comments on people who voted for Brexit. Both sides were fed nonsense during the campaign and it was up to us to work our way through that information. As for the binding issue, Both sides fought the referendum on the basis they would regard the result as binding; and it was on that basis that people voted. As things stand I would be more concerned as to how this government is running the country and in particular it's draconian approach to covid. Good day to you sir.