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Wow Rebess you could nearly pass for a shorter… serves no purpose posting negative comments.
I suggest you read Mrtibbles post of yesterday entitled
“RE: Come the day for more MandA”
posted at 10:25 it has 6 likes and gives a pretty accurate account of the current state of play.
Wow! - Amazing success reported here. - Leaves the likes of Centamin in the shade. - Bad news only reported here. - Centamin seem to take pride in their short-ladder/long-snake structure and the amazing rewards it produces for the directors.
Could be a double bottom forming.
Same thing with Morrisons currently, how is the market undervaluing certain assets so much and over valuing assets with no cashflow..it is beyond me.
One of the questions being asked, givn the market valuation of a company, versus its real value, is whether it makes any sense to be a public company. The argument in Australia has exploded with the lodge of a takeover bid of the Public Sydney Airport, by a private infrastructure consortium. The enormous scale of the private funds is such that they can make a $22b bid at a 43% premium to market, and not miss a stride. If one of these funds decided to take a look at gold as an asset class must have, then guess what will happen.
best
the gnome
Lots of commentators in the media seem desperate to talk down the price of gold even despite the rising inflationary pressure and negative real rates, but it keeps coming back. This morning's drop in CEY was just stupid, gold didn't even move and we were down. The market is totally broken at the moment.
The ftse is off by 1.37%, if England win on Sunday expect the market to go into the ground like a dart on Monday.
SP stuck in this low range, dissolutioned. Needs some good update to get going
Swinging to the upside.
Hang Sang tanking down 2.5%
Equities in Europe traded lower on Thursday ahead of European Central Bank President Christine Lagarde's speeches about the current state of the economy and the effects the COVID-19 pandemic has left on it. Meanwhile, Germany revealed its trade surplus dropped to €12.3 billion in May.
The DAX fell by 0.18% at 8:01 am CET. At the same time, the FTSE 100 went down by 0.43%, and the CAC 40 declined by 0.27%.
The euro stood gained 0.10% against the dollar at 8:02 am CET, changing hands for $1.18019. At the same moment, the pound sterling lost 0.09% to the greenback, selling for $1.37878.
Breaking the News / JR
Thanks MrTibbles for clearing that up.
Hi Instant,
The return on Bonds are pants utter pants, they may be supposedly secure, but what on earth is the point of farting around for a return of 1.38%?
Anyone using an investment adviser or broker would never make up the cost of the consultation, trading costs and management fee's!
Life is far too short and precious to even consider bonds with a return of less than 10%!
If truth be known none of them in the City or Wall Street brokers experts really buy bond's themselves they just con others into buying them to earn themselves commissions and provide a reason to manipulate the markets.
Tell the City and Wall Street to shove their government bonds up their rear ends and then see what happens, it will certainly show just what a "Crock" most bonds are!
You could earn far more writing an article on why to invest in bond's, or not as the case may be!
My answer to any so called financial experts advocating how marvelous bonds are then they should go and invest in them instead of trying to wangle a fee out of me for such stupid advice!
The returns on premium bonds are far better without the the cost and as far as investment's go if it doesn't pay a decent dividend then don't bother!
Bonds are a way of manipulating the masses into accepting a less than derisory return for some supposed security based on debt most likely and just a way of keeping interest rate 's low!
Hi Jep,
Based on recent conversations with other better informed people than I , Barrick or Newmont have enough on their plates at their moment and I very much doubt either would stand any chance as things stand of getting Centamin on the cheap, assuming they had made any initial approach that is,which neither have as far as I know!
Bristow is used to getting his own way, that ain't gong to happen in Eygpt unless it suits!
Hopefully more will be revealed about Centamin in the near future!
It seems it's all about spending borrowed money, (i.e. not theirs) which has o be paid back, this is all well and good if the borrowed money is spent wisely and results in a profit, but what if the borrowed money is frittered away on what turns out to be poor business decisions then the company debt grows even bigger, what then, certainly no dividends!
So it seems that Centamin is wise by comparison, no debt, money in the coffers and new manegment who are intent on getting Sukari the main income generator running smoothly and consistently producing around 500,000 oz.
There appears to be a very strong determination to move away from spending many millions of dollars on hole drilling in potentially unstable ares area's of West Africa in order to hopefully make a promising discovery on which to sit for the next few year's!
Possibly then a desire to get back to the original company business model of maintaining the Sukari ATM and preserving a cash buffer, thus sustaining a very reasonable dividend and certainly not going into debt on more exploration drilling or opening mines in unfamiliar areas of potential unrest.
My own opinion is that should the negotiations of the T & C of any new and suitably located Egyptian concessions be successful then then the money to fund the development of these new resources will come from the sale of the West African assets that don't fit in with the Centamin business model.
Again it is just my own opinion, but possibly the reason it has been impossible for investors to get the promised updates on the West African assets is because the compiling of it was about as reliable as everything else Pardey was involved in!
That said then it would seem to make sense as part of the present strategic review to reevaluate accurately the present state and value of the West African assets in order to be able to get the best price for them if they are to be sold.
As to take overs there appears to be no interest on the part of the new management and certainly any bid at 30% above Centamins present value would be regarded as a silly joke!
£4.50- £5.00 might be considered as showing a real interest, that is of course assuming any would be suitor doesn't leave it too long considering Centamin's future potential!
So I shuld think there will be very busy run in to the Q2 numbers and then the interim results in early August!
Tibbs
Shares on major European stock exchanges were slightly higher during premarket trading on Wednesday as investors continued to assess the economic recovery from the coronavirus pandemic.
Traders were awaiting industrial production figures for Germany as well as the United Kingdom's monthly Halifax House Price Index, while in the United States the Federal Reserve's minutes from last month's policy meeting were in focus.
The DAX was up 0.15% at 8:00 am CET, while the CAC 40 rose just 0.05%. The FTSE 100 was 0.14% higher at the same time in London.
Breaking the News / JC
*again no currency data
Gold above $1800.00
Happy hump y’al
Businesses around the world are beginning to spend the vast sums of money borrowed through the pandemic, triggering a surge in takeovers and capital spending that will push corporate indebtedness to record levels, according to fund manager Janus Henderson.
Companies rushed to the capital markets last year to fortify their balance sheets through the downturn, tapping rock-bottom interest rates in a burst of borrowing that pushed total corporate debt to a new peak of $US13.5 trillion ($18.01 trillion) in 2020.
Now, companies are turning from raising money to putting it to work as economies like the US and Australia rebound stronger than expected.
The global spending wave will push net debt – the total amount borrowed, less cash – from $US8.3 trillion last year up to a record $US8.9 trillion by the end of the year, according to the top end of forecasts from the asset manager released on Wednesday.
“Last year was very much about survival,” said Jay Sivapalan, the Melbourne-based head of Australian fixed interest for Janus Henderson. “The corporate bond market was used by companies to bring forward a lot of borrowing.”
Now, against the backdrop of robust global economic growth, companies are looking to spend their pandemic debt “war chest” on mergers and acquisitions, dividends, share repurchases and capital expenditure, known as capex, he said.
The race is on to acquire quality assets ... I expect the gold industry, which is notorious at this, to go for it...so watch out for bid for CEY. Premiums being paid in other industries are way above 30%...
good luck
the Gnome
5 Day 1784.30
20 Day 1808.20
50. Day. 1833.90
100 Day. 1791.90
200 Day. 1839.30
I revere your ancient footwear Mr Bond.
You appear to have played this game before.
The precise 100 day moving average is actually $1792.40 (that was yesterday) and the price is holding above that so far tonight.
I just hope it's just men in suits finding their rent money and $1800 is regained when the European markets open later today.
IE
ETF ,s
And now the game goes on.
Knock the price down dumping paper, the buying physical, in it's place.
But where and who takes the loss.
The mugs.
RUSSIA WEALTH FUND CUTS DOLLAR HOLDINGS TO ZERO
LOL
Break out the popcorn :)
Saudi Arabia and the United Arab Emirates headed into the boxing ring for another round on Monday, before OPEC+ called it quits on a production deal. The unresolved spat between the long-time allies saw WTI crude soar another 2% to near $77/bbl, further squeezing an already tight oil market and raising concerns over inflation. At issue is the current terms of "baselines," or the measure in which each country calculates its production cuts. The UAE feels its current level of 3.2M bpd from April 2020 is too low - and should be 3.8M bpd when the deal is extended into 2022 - but the Saudis and Russia have rejected any readjustments, fearing that other OPEC members will issue similar demands.
What's at stake? Abu Dhabi is attempting to force the group to accept its request or risk unraveling the alliance. At the extremes of the equation, crude prices could make an outsized move in either direction. Failure to reach a deal could mean crude could rise even higher, but OPEC+ unity may also break down, risking a free-for-all that could send prices crashing. That scenario played out last year when a disagreement between Saudi Arabia and Russia prompted an oil price war. Months after the dispute was settled, the UAE stirred things up again by threatening to leave the cartel.
"Failing to come to a deal may provide some brief upside to the market, with reports that output would remain unchanged," explained analysts at ING. "However, realistically it could also signal the beginning of the end for the broader deal, and so the risk that members start to increase output."
Outlook: The tensions between Abu Dhabi and Riyadh are going beyond oil. While the UAE's Crown Prince Mohammed bin Zayed and Saudi Crown Prince Mohammed bin Salman once had very close relations, the former has been flexing its own geopolitical aspirations via foreign policy moves towards countries like Israel and Yemen. The Saudis have also called for foreign companies to move their regional headquarters to Riyadh (many are now in Dubai), and following the OPEC standoff, the Kingdom moved to restrict citizens' travel to the UAE
Hi Auson, Oil has been rising by about $4 a month since last November in a pretty straight line. I am aware of the problems of relying on extrapolation, but this had been a very steady performance. The argument is that we are now in the upswing of the oil supercycle, but a reduction in exploration, exacerbated by the pandemic, and pressures from environmentalists (with good cause) are also helping. There are cracks opening in the agreement in the OPEC/non OPEC meetings (particularly UAE) but the unilateral reduction of the Saudis has been important. I agree with your opinion of Goldman, but they came late to the party in relation the bull forecast and are just playing catch up IMO
Hi Uncertain,
Good to see you pop up here again. I am watching but not posting much at the moment. What is there to say other than we've got down again and are a bit stuck. Looking good from next year and particularly the year after IMO but just have to hope gold stays strong for long enough for the market to start pricing that good news in.
Good luck playing oil.
Best wishes,
Prof