We would love to hear your thoughts about our site and services, please take our survey here.
London South East prides itself on its community spirit, and in order to keep the chat section problem free, we ask all members to follow these simple rules. In these rules, we refer to ourselves as "we", "us", "our". The user of the website is referred to as "you" and "your".
By posting on our share chat boards you are agreeing to the following:
The IP address of all posts is recorded to aid in enforcing these conditions. As a user you agree to any information you have entered being stored in a database. You agree that we have the right to remove, edit, move or close any topic or board at any time should we see fit. You agree that we have the right to remove any post without notice. You agree that we have the right to suspend your account without notice.
Please note some users may not behave properly and may post content that is misleading, untrue or offensive.
It is not possible for us to fully monitor all content all of the time but where we have actually received notice of any content that is potentially misleading, untrue, offensive, unlawful, infringes third party rights or is potentially in breach of these terms and conditions, then we will review such content, decide whether to remove it from this website and act accordingly.
Premium Members are members that have a premium subscription with London South East. You can subscribe here.
London South East does not endorse such members, and posts should not be construed as advice and represent the opinions of the authors, not those of London South East Ltd, or its affiliates.
Tornado: That is correct regarding debt reduction but dont agree that the value of gold should be set by Governments and Banks. How can you explain the value of a crypto coin which is basically an electronic holding and are worth nothing realistically. I`m sure Government would love to control cryptos through taxation but at present, they are not able to. Physical gold should be free from manipulation price setting and it could be worth $10,000 p/oz or $100 p/oz. Supply and demand would set the true prices at what level people will buy. Gold will always be sought after.
Prior to the pandemic gold had a fair value price of $1300 as of early 2016. This figure is arrived at from the multiples increase in USA debt plus inflation rate over time. Since that time UK and USA inflation is around 14% taking value for gold to $1480 per ounce. However, the addition increase in USA debt is well above $22.5 trillion which allows for the inflation impacts. When these costs are added the fair value price is corrected to $1745 per ounce. At the present time more debt is being added and the infrastructure spend increases it further. The tapering reduction is not reducing the debt and inflation may well continue to add into the depreciation of fiat currencies. The recent pullback has simply pulled gold to its true value and any further pullbacks on gold make it cheap to buy as the value of everything else in gold ounces is far higher than it was previously. It is only when governments can actually reduce debt with tax receipts exceeding what they spend in a given year that could truly depreciate the gold price. I would say the chances of it happening are the equivalent of a very hot place freezing over.
At last, the roofers are building my house extension roof ,while the sun shines in the UK! It will be nice not to have to mop the water out after it rains ! Unfortunately ,building work can cost twice as much and take twice as long as originally expected. I hope I do not have to sell my Centamin shares before the eventual rise in the price of gold and the price of Centamin shares.. I think that fiat currencies may keep gold down this year, but eventually , probably next year, gold price will rise. But then ,I could be wrong.
If Sawiris is confident about his business strategy and as we know already a “Billionaire “ then $300 million is chicken feed for him to chuck in the pot, is'nt it?
Totally agree ...
Hi Tornadotony,
Unfortnately I feel the pandemic is going to take some years to subside, which means goverments will need to keep stimulus going, then after that there will be so much debt they will have to stimulate to inflate the debt away.
A renowned epidemiologist says the coronavirus pandemic is far from over due to not enough vaccines being available for every country.
Dr Larry Brilliant, who was a medical officer in the World Health Organization's (WHO) smallpox eradication program, says not enough people around the globe have been vaccinated against COVID-19.
He told CNBC's Street Signs that only 15 percent of people in the world have been immunized with some countries not even inoculating five percent of residents.
Brilliant also addressed the spread of the Indian 'Delta' variant and sad it was the most infectious he had ever seen in his career.
'I think we're closer to the beginning than we are to the end [of the pandemic], and that's not because the [Delta] variant that we're looking at right now is going to last that long,' Brilliant told CNBC.
PM's trading erratically on low summer volume so little bits of daily data making large price movements only to be expected.
The company is building a solar plant to reduce diesel consumption and its redeveloping its underground resources to be more sustainable and it has undertook a lot of waste stripping that stabilises the entire operation. The company has made good use of the higher gold price in 2020 and 2021 thus far. The CEO is doing and making the correct decisions. Why I like the investment in the portfolio. As for Gold it will form a bottom and those gaps in the chart all the way to $1790 need to be back filled.
I’m sure Horgan is already doing his very best to hit his 2023 target with lower costs and higher output but this is dependent on everything going to plan that doesn’t always happen in mining let alone Centamin, rather than my asking him. Cowichan is right of course that a huge discovery would of course help the prince, as long as this ultimately turned to profit. My point was simply that it is not a lack of promotion and interest that is holding Centamin shares down but rather the opposite, they are higher than profit would warrant on high expectation Horgan will fulfil the plan, hence a lot on trust. I am holding because I see 2023 as a good recovery but I consider it brave if not foolhardy of me, especially as gold likely to go lower before rises again, hopefully by 2023
European stocks were flat to lower in premarket trading on Tuesday as global COVID-19 worries continued to cause caution. On the data front, investors awaited a report on German and Eurozone economic sentiment.
The FTSE 100 lost 0.06% at 7:31 am CET, the DAX and the CAC 40 were flat at the same time.
The euro was up 0.03% against the dollar to sell for 1.17390 at 7:32 am CET and the pound traded flat compared to the greenback, going for 1.38467 at the same time.
Breaking the News / NP
I think we all appreciate that Sotolo, so what do propose to bring his about any sooner ?
If so why not put your suggestions to Martin Horgan?
Thank you Cowichan, for some really interesting updates with lots of new news and facts the should give Centamin investors several reasons to be optimistic!
" Gold Mining Company “Centamin”, which is the concessionaire of the Sukari mine, announced that the Central Bank of Egypt (CBE) bought 14,000 ounces of gold from the company during the H1 of 2021 for $25.3 million, bringing the average purchase price of the ounce to $1,802, according to the company "
https://lomazoma.com/breaking-news/8792502.html
The article goes on to point out:
" It is noteworthy that Egypt is the only country from which Centamin has achieved production, whether at the level of gold or silver, while its operations in Burkina Faso and Ivory Coast are still at the exploration stage, pushing the company to look for companies to takeover its operations in Burkina "
------------------->>
My Thoughts:
It's amazing that even an obscure Egyptian media source sees a strange irony in Centamin's failure to carry out its plan in Burkina !
Hi Sotolo.
I don't know if I agree that 'a lot' of Centamin's current price has anything to do with trust but regardless the point of the presentation was to highlight (go to 14 minutes in if you don't have time to watch the whole thing) https://youtu.be/qp-XDdIAdvc the effect a 'hot' project can have on companies with contiguous land parcels.
New Found Gold has reached a market cap of $1.5 billion (for the last couple months) on some good drill results alone. No resource. No production. Just hope in the future that something will eventually get built. So when I hear somebody hypothesize Centamin is in some type of long term death spiral or in danger of losing investors at this stage I cringe. Centamin has really just started making money and has PLENTY of deposits just waiting to be exploited - and that's just counting the area around Sukari. Add West Africa & the new Egyptian concessions and Centamin will be making money for decades and decades.
Anyways, as a result of New Found Gold's drilling success the companies with adjacent parcels https://labradorgold.com/ & https://exploitsdiscovery.com/ have both skyrocketed higher - and that without any good drilling results of their own. (See chart at 15:30 minutes in)
Bottom Line: Egypt is essentially virgin territory not unlike Alaska or California before the gold rushes. When we start seeing drill results from other companies like Barrick hit the news (and assuming we now hold a concession in their vicinity) our share price could pop without any good news of our own. But of course 'closeology' is not the reason we long term shareholders are invested - just something to keep an eye on. Cheers!
Thanks for the link Cowichan. When I see the size of that new truck tray, I'm minded of Scots RFU player Gavin Hastings reputed quote having come up against NZ Jonah Lomu for the first time - 'there's no doubt about it, he's a big bu**er!'
Cowichan I don't think it as much investors taking notice of Centamin that is needed - quite a lot do for better or worse - but the company needs to start making some decent money again; at this gold price I reckon that our share of the profit after profit share and royalty will be about £80 an ounce or around £30million which would really deserve a valuation less than half what it is now, plus the company is paying out over 3 times that profit in dividends if I am right, and if it keeps its divi promise, so we badly need that dramatic improvement in costs and ounces promised for 2023....or with gold at these prices and lower the dividend will have to be greatly reduced along with the share price. Now if we could get costs including Capex back to 950 and ounces back up to 540k with gold at these prices we would be making £270 an ounce on 35% more ounces, so more than 4 times more profit. So a lot of the current price is still on trust it seems to me
Barrick's CEO makes the point that mining jurisdictions are so stressed financially that they've made many advance tax payments - including in the state of Nevada, USA !
Also, he talks about the large fund managers' demands for dividends and how it's going to be impossible for majors to grow/maintain output given lax investment in exploration
https://www.bloomberg.com/news/videos/2021-08-09/barrick-ceo-says-don-t-expect-more-production-growth-for-now-video
My 'all is not lost' commentary for an otherwise sad day in the markets...
A video discussing the upside of being in close proximity to new discoveries i.e. as the market discovers where Barrick has exploration targets in Egypt a whole new world of investors will take notice of Centamin, too.
https://www.youtube.com/watch?v=qp-XDdIAdvc
https://www.linkedin.com/feed/update/urn:li:activity:6830517946331234304/
The successful candidate will need to raise an additional $300 million AND be in charge of their social media strategy - wow, talk about a divergent skill set !
send your resumes here aleks.grela@lamancha.com
On Sunday Seaboy provided us with an update on what was happening in his hospital on the Synairgen Board. The situation with the Delta variant is far more serious than the public are being told here in the UK. Some of you may wish to read up what he wrote. Anyway I am staying with my gold miner holdings as I feel the market as usual is underestimating how the next phase of the pandemic could unfold. There is a reason why major USA companies are not having staff returning back into the office. It won't be long before large organisations in the UK follow them. Stay safe and well to all my fellow Centamin investors. Tony
Meet our new #HighProduction truck tray: the first of 44 to join the #Sukari fleet. Fabricated in Egypt by Aresco, this lighter weight tray increases productivity through larger payload, reduces fuel consumption & improves tyre life, lowering mining costs & emissions
https://twitter.com/CentaminPlc/status/1424649179222233089
Dogger
Your posts are of the same bull5h1t
Your post on the FXPO bb last year speaks for itself when the sp was 178p.
‘Can this go to 0. The game is over. ‘
FXPO are now trading at over 400p. Don’t tell me. ‘ I have still got them’. :)
Monday, 8/09/2021 15:25
GOLD AND SILVER PRICES stabilised from a flash crash to hit 4 and 8-month lows respectively at the start of Asian trading today due to low liquidity and Fed tapering fears, while oil slid further on concerns over new coronavirus related restrictions in Asia writes Atsuko Whitehouse at BullionVault.
Holidays in Tokyo and Singapore made for thin trading conditions, adding to today’s volatility!
The Dollar Index – a measure of the US currency's value versus its major peers – steadied after rising to nearly two-week high in reaction to last Friday’s US jobs report.
Ten-year US Treasury yields – a benchmark rate for government as well as many finance and commercial borrowing cost – slipped from the highest in 3 weeks recorded last Friday.
“Traders have been rattled by golds strange behaviour in recent weeks when falling yields failed to boost the price, while last week’s small turnaround in yields triggered an immediate and strong negative response,” Saxo Bank stated in a note.
No certainly not over , we've been here before and it is a Monday!
Take look at Razor's post earlier today, the Sukari atm is just undergoing some long overdue maintenance!
Is it over for CEY? Where is gold heading? Could we see CEY crash down through 90p?