George Frangeskides, Exec-Chair at Alba Mineral Resources, discusses grades at the Clogau Gold Mine. Watch the full video here.
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Why would divi be cut or reduced even if gold fell to 1700. Do you know where the price has come from in past 2 years never mind wall being fixed.
Inflation is the 'tax of choice' for Western authorities. They've been trying to create inflation since the credit crunch; why would they try to stop it rising now? China, on the other hand, doesn't want inflation - it's bad for its exports if material input prices rise. Hence, the release to market of copper stockpiles to lower the price. So that's another big difference between East and West.
As ever, I shall buy Centamin and gold at a price I'm happy with. I can't do better than that.
I agree with audon, the $ up and POG drop has happened and PoG is at 1810 now... since Fed are saying interest rates are unlikely to rise until 2023, I see plenty of back and forth between now and then.
Gold is still a hedge for inflation, which is creeping higher globally and today the EU will be updating on this. I think its an opportunity to add here
Gold RSI is now on the floor - seriously oversold, will bounce like it has many times from this level.
Adrian77,
Total BS the gold drop was last night we now begin the slow recovery to $1900s
Will we see 106 who knows
Brave. Bare in mind with gold in the $1700s the divi will likely be cut or removed. Stakeholder paid first.
Miners are ignoring gold drop so far. So only bought 1/4 my allocation. Acting as average down.
I called 106 a few weeks ago gets there today imo. Not looking good at all for gold prices. Next stop €1750.
Hi Goldgnome
My comment about hating all things economist was tongue-in-cheek. It's very difficult to convey a sense of humour when writing on this board. I suppose you have to write LOL after everything you mean to not be taken seriously.
You write what you want; it doesn't offend me. I agree that most economics is useless. It's just another branch of trying to control human nature just like politics. We end up getting people who tell us what to do and running our lives, when they can't even sort their own lives and heads out (Boris Johnson). The one thing we must all do is not let them get into our heads. Know your enemy.
Kind regards
Aoife
Shares on the major stock markets indexes in Europe traded in the red in the premarket on Thursday, as the investors awaited May's inflation figure, scheduled for release after the opening bell.
The traders digested United States Federal Reserve's decision to leave the key interest rate unchanged. Fed's Chairman Jerome Powell predicted a strong recovery for the US labor market but went on to underline that the country's economy has not returned to its pre-COVID levels.
The DAX lost 0.21% at 7:32 am CET, while the FTSE 100 declined by 0.36% at the same time. The pound sterling moved up by 0.07% compared to the dollar at 7:33 am CET, selling for 1.39968, while the euro stood flat versus the greenback, going for 1.9980 a minute later.
Breaking the News / BU
Skip to 1 hour & 36minutes into video where B2Gold says the negotiations with the government were long but they expect to be drilling on their concessions in Egypt later this year
https://player.vimeo.com/video/562053541
Noted Aofie,
My apologies if I do rant on about economists. I will show more restraint. There are good economists, Banerjee, Perkins, Collier, Ha-Joon Chang etc, but more restraint from me.
Good to see the Fed Economics group is starting to have a dose of reality. Federal expects inflation will climb to 3.4 per cent this yearhe real one will probably be closer to 8% as commented on before), higher than the central bank’s previous forecasts, and projected for the first time that there could be two interest rate hikes in 2023. As recently as March, the Fed predicted inflation would be 2.4 per cent for this year. Earlier estimates didn’t project an initial rate hike until 2024. Oh well thats enough of that (like predicting share prices, or the POG, or CEY SP?!), but my bet is inflation is going to rise a lot more than they are predicting.
"The problem right now is that the demand is very strong, and incomes are high," Powell told reporters on Wednesday. The 10-20+m who flip burgers, open doors, sweep floors, work in hospitality, tourism would beg to differ, but what would they know?
The housing market has gone nuts in Queensland as more smart and able people flee Victoria(stan) and the Gold Coast white shoe Real Estate (RE) shufflers and bustlers come to the party. I will get an email in the morning from the Qld RE group telling me of a hush new off market house (or 5) ... just released at a steal... $x.ymillion, and in the afternoon I will get another saying..."you missed the opportunity, but wait, there is another and here it is...sleep on it and let me know in the morning!" The fun never stops in Queensland Real Estate...and especially as people rush to invest in REAL assets, no pun intended...LOL
best
the gnome
A join of B2Gold and CEY may not be a bad fit?
best
the gnome
Noted Cowichan, and agreed in part
The 3-5 years may not work for all professions. The main points
1. If you know you have 3-5 years, you really put in/focus. Conversely I know quite a few who have the long term/lifer view who have went to sleep at the wheel many times, and who build up a belief of entitlement. But there is a role for longer termers, if they manage themselves and are managed well.
2. Despite how wonderful you are, there is always someone in the wings that is potentially as good if not better, and deserves to "have a go" at the wheel.
Talent in the country? The main talent is to be able to continually gain the respect and trust of quality local people. Dare I siggest that the best talent is the local people themselves, so finding the right talent in the country to me is key. So I am not at all fazed by seeing a wandering French (probably the most detested race in West Africa) Geo move on, but would really like to see them identify top local talent and hire This is how you build in-country on a solid sustainable base, and this is where CEY shoud be in Burkina Faso and Cote Ivoire...now.
In Burkina the previous "mngt" was so stupid they hired a foreign national to be the country manager. An abysmal choice at best, the man was immensely unpopular with local people and government, as well as having some other "foibles unbecoming"...
best
the gnome
This map is more accurate with the historical workings corrected to include --> Gabel El Hadid, Umm Samra, Beza, Umm Salatit, Umm selim
https://twitter.com/DonLawson_/status/1405275266323128321
Daily cycle low taking place in gold right now...in my opinion take positions tomorrow....gold needed to correct to take out dumb money and technical traders
Yes not good at all
Wow, gold is really taking a hammering right now. Not looking good for tomorrow..
Yes Aofie, the Jensen automatically drove to the next petrol station.
Lovely styling, but huge US engine.
Final choice great, remember selling mine cheaply, now try and buy an original.
Hi Mr Tibbles
I was referring to Mr Bond and Cowichan about being gentlemen in the way they argued and gave each other a slice of tongue pie, but quickly realized they wanted the same result (as we all do) and agreed to reamain friends. That's not to say Mr Goldgnome isn't also a gentleman despite his hatred of all things economist!
Yes, birdsong woke me up just after 4am this morning. I think the rooks and my mother are related - they nag their offspring just as she used to me - get up, get dressed, do your hair, eat your toast, put your shoes on blah de blah. No wonder I've got bags under my eyes.
Yes, I think predicting share prices by charts is difficult. You can get some kind of pattern in broader markets. The link below shows the gold price over the last 5 years in sterling. Since the high, we've had a perfect ABC correction and are in a little 'correction' from the first leg up after that - I reckon £1300 ish and then we go up. The FOMC meeting has given the shorts a chance to cover and I say Centamin fills the gap at 107.4 and then we're up. I put in a buy order today for 107.4 but didn't get hit.
https://www.bullionbypost.co.uk/gold-price/5-year-gold-price-chart/
Basel 3 is important to Germany, Italy and France because they own significant amounts of gold. Britain and American are Keynesians and don't see gold as important. Just because the dollar goes up doesn't necessarily mean gold will fall. In fact, we'll know when the game is finally up when gold and the dollar rise together. With all the debt in the world, which is primarily dollar denominated, a strong dollar will cause a deflationary depression 1930s style and some.
Big money can only really go into bonds or equities. My mate Martin says money is fleeing bonds and going into housing.
https://www.armstrongeconomics.com/markets-by-sector/real_estate/real-estate-alternative-to-bonds/
Here is a nice car for Mr Bond.
https://angliacarauctions.co.uk/classic/sat-26th-sunday-27th-june/1970-jaguar-e-type-42-series-ii-coupe/
Here is a nice car for you.
https://angliacarauctions.co.uk/classic/sat-26th-sunday-27th-june/1975-jensen-interceptor-iii-auto/
This is for me.
https://angliacarauctions.co.uk/classic/sat-26th-sunday-27th-june/raleigh-chopper-mk2-purple/
Oops, wrong link. This is for me.
https://angliacarauctions.co.uk/classic/sat-26th-sunday-27th-june/1967-sunbeam-alpine-series-v/
We just need Centamin at £2.50.
Looking like bad day tomorrow, this share is not turning out to be what I expected, should have known better with the high div
Thanks Jerome you ****er
And more than likely the FED doing the same, now they have dropped the price so quickly.
Very good plan ,well done J Powell,.
Gold prices drop sharply following optimistic Fed Res that could raise rates in 2023.
The US Market is thinking 2 years ahead now. :-)
The Chinese and Russian s are likely loading up with physical this very minute.
Spotted in their June 11th Annual Meeting Presentation.
https://www.b2gold.com/_resources/presentations/2021-Annual-General-and-Special-Meeting-Presentation.pdf
B2Gold is calling the project BARRAMIYA1 but it comprises several historical gold working areas like Umm Hugab, Umm Dalalil, Samut, Abu Mireiwa and Dungash — pretty much making B2Gold Egyptian neighbors with Centamin's Sukari mine!
Will this lead to cooperation/amalgamation down the road? B2Gold does has great AISC numbers at present, but I digress.
Satellite imagery shows an awful lot of historical excavation already in progress at Abu Mireiwa in particular although I haven't imaged all the other workings which may be similarly active.
Check out some photos here -->>
https://twitter.com/DonLawson_/status/1405227952791425027