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.
We are in a MandA frenzy in Oz, and my bet is that for the same raft of reasons (+1) you will see this in the gold mining sector.
The +1, is that there have been very few gold discoveries, so organic growth is and has been off the cards for a decade now.
https://minexconsulting.com/trends-in-gold-exploration-with-a-special-focus-on-quantifying-discovery-performance/
How does a mining company grow, when they have no greenfields exploration success?
The performance so far in the broader industry in 2021 is even eclipsing the golden era of M&A that arrived in the wake of the global financial crisis and peaked in 2011, when $US56.9 billion of deals were announced to this point in the year....been $US64.3 billion ($82.8 billion) of deals announced so far this year, and we ae only half way through.
I expect the gold mining industry to start ocmpeting in the MandA stakes a lot more....
best
the gnome
Hi Mr Tibbles
Unfortunately, Boris Johnson and the Austin Allegro have one thing in common. They are both duds.
So, what of the markets this week? Another week like last week, and I'll be an unhappy bunny. In fact, I may start thinking along these lines:
I wish I loved the Human Race;
I wish I loved its silly face;
I wish I liked the way it walks;
I wish I liked the way it talks;
And when I'm introduced to one,
I wish I thought 'What jolly fun!'
Sir Walter Raleigh (not Victor Meldrew).
Poetry Monday has come early this week.
Best of luck to all.
Hi Redsparrow,
Good news about Former Commons speaker John Bercow has announced he is joining Labour as he launched a scathing attack on Boris Johnson.
Lashing out at the prime minister, he said the Conservatives today are a “reactionary, populist, nationalistic and sometimes even xenophobic” party.
Your brother is is right on all counts, unfortunately although at the time it was Lord Stokes then Michael Edwards whose brief to save British Leland was questionable and in order to cut tooling costs he decided to keep keeping using the huge surplus of post war components on supposedly new generation cars.
Admittedly this had been the norm post war , Austin Healey sports cars had the same basic engine block and even gearbox that was in the Austin 5 ton army lorries, MG'S the Austin and Morris brands were using outdated lever arm suspension and wish bone suspension which would just collapse unless it had been greased up on a regular basis.
Remember the first Range Rovers, now in concourse condition going for 100K, they used Morris Marina switch gear and door handles, although the Rover V8 engine was superb and the car was basically simple, no stupid ECU's or electronics making them true off roaders that were easy to maintain ., more than can be said for today's Joke called Range Rover!
Remember the Austin Allegro , no surprise the Austin Allegro has been voted world's worst car.
They were banned from the Blackwall tunnel as dangerous to tow, because their shells would bend and back windscreens pop out.
The rectangular Quartic steering wheel was branded unsafe by the police and there were quite a few owners who watched their rear wheels fly off and over take them.
That's before you start on the questionable aesthetics.
I n the Harris Mann in his original sketches. It was actually a very handsome car.
The villain of the piece was Lord Stokes, head of British Leyland, who insisted on using seats from the Maxi and trim from the Marina, and spoiling Mann's visionary design.
The Allegro - nicknamed the All-aggro - is the world's worst car, not because it was a bad design by one man, It was ruined by a committee of meddling fools!
I'm sure most people have read this, but I'll put the link in here just in case. It's about the Fed's apparent change of heart!
https://moneyweek.com/economy/us-economy/603423/the-fed-springs-a-surprise-on-investors-are-there-more-to-come
Well, Western governments need to inflate away their debts, so I agree with the author about how far the 'taper tantrum' must run before they change track again.
My eldest sister's husband was a panel beater all his working life, and has helped me buying cars over the years. When I was a student, I saw a Triumph TR7 at a local garage and he came along to view it. The verdict was: 'as rotten as an old pear'. It was a blue one with the roof, not convertible, and I could see all the wheel arches had filler in and underneath was rotten. It was 1986 and the car was probably about 8 years old - I think the insurance for me was about £850.
I eventually bought an Austin Metro when I started work. It was about 18 months old, purchased from a main dealer, and after a week, I went to go to work one morning and there was about 3 inches of water in the passengers footwell. I took it back. They kept it for about 2 weeks, told me it was fixed, and about 2 days later, the footwell was full of water again. My to-ing and fro-ing to the garage happened a couple more times with no success. After a comment from the sales manager to me, which even in those days was extraordinary, I threw the keys at him and said I didn't want the car anymore.
My brother-in-law said that finding water leaks in cars is such a difficult, time consuming process, that they just didn't want to make the effort. So, one cold Sunday morning in January, we were out on my parent's house driveway with the car. He was upside down inside the car and I had a hosepipe which I had to allow the water to trickle from starting at the lowest point on the door/wing. It took ages to find, and the leak point was found to be on the roof edge, hidden by some black trim. The factory sealer had not covered properly and the water just poured in. We put some black sealer on, replaced the trim, and it was fine after that.
I never really liked the car, though, and kept it about 2 years before selling it. I really should have bought either a Mini or an Escort - much more a young person's car in those days. I know a little about car repairing from my brother-in-law. One thing he did say was that finding a really good painter was so difficult. The cars would be repaired really well, only to be almost entirely ruined by painters throwing on a load of paint which looked terrible.
To buy a classic today, I think joining the owners' club is the best thing to do. So much knowledge and willing helpers. I did join the Jensen Owners' Club for a year when in my early 30s. I liked the Jensen Healey but found that they weren't particulary good cars. I also had a young family then, so it was completely out of the question anyway. I was just learning the ropes for later in life.
Hi Mr Bond,
Governments don't want ordinary mortals like us to realise the true rate of inflation, that's why they have departments whose role is to come up methods of measuring inflation based things like a basket of shopping (what's in the basket and from what shop?)
Why the Government prefers the CPI – at least when it comes to pensions 20 March 2012
Public sector pensions will increase more slowly in future after the Appeal Court threw out an attempt to stop them being increased in line with the consumer price index (CPI) rather than the retail price index (RPI).
The CPI typically runs at a lower rate, thanks to the way in which it is calculated. When introducing the switch the Government argued that this was a fairer measure of inflation – as it did not include certain housing-related costs, such as mortgage interest payments or council tax!
These changes don't apply to MP's or the senior Judicery who ruled on the appeal case!
In the 70 s. I recall seeing a Jag XK120 for sale at £120.
I was earning £3 10 shilling a week paid monthly, as Articled Clerk in a Chartered Accountants, before going into English Electric as Cost Accounting at double the salary.
Happy days ;-(.
Later had TR2 rot box, with Standard Vanguard engine. Simple basic mechanics .
Pay was crap then, mechanic -grease monkeys were earning 3 times more.
But the early knowledge paid off later. :-).
Sorry if a little off topic ,but linked with inflation.
TR7 cont
The slant-four Triumph motor is usually pretty long lived IF maintained properly. but many weren’t looked in the years when values were very low.
Apart from the obvious common oil leaks, the biggest problem with the engine will be a warped cylinder head due to differential expansion between the iron block and alloy head – not due to owners failure keep up the anti-freeze concentration, vital for its corrosion-inhibiting properties. this will manifest itself in head gasket failure and the serious problem will be easy to spot via the oil and water mixing. If the engine quickly starts to overheat when left idling after a run this shows that all is not well in the head gasket department.
Although a simple engine by modern standards, head removal is problematic due to the steel studs fitted at an angle corroding into the alloy head making removal of the head impossible with the studs in place.
Some cars may have an electric fan as a preventative measure so don’t be too suspicious of a car which has one fitted.
Timing chains are renowned for getting noisy although they may still carry on well for many miles, but the factory’s recommended change interval was 25,000 miles!
Also engine issues have been traced to water in the fuel due to the location of the filler cap which gathers water in the recess. this problem will be bad enough for the tank to rust out and replacement involves dropping the rear axle.
TR7 engines came with hardened valve seats from the factory,so the cars can run on unleaded fuels without additives.
Four and five-speed gear boxes synchromesh becomes weak over time,most learn to live with it as the shift action will tend improve when the engine and gearbox get warm, or a good tip is to use automatic gearbox (ATF) fluid!
Clunk on hard acceleration can be nothing more sinister than a worn prop shaft joint or simply the bushes in the trailing arm mounts, fixable at a price.
Rear axles tend to be louder on five-speed cars, but unless you can't hear the radio don’t be too worried!
Restoration projects cost under £2500 -3000 although they are disappearing due to cannibalisation or restoration .a usable car will cost around the £4000ish for a coupe, with convertibles probably £5500 then values rise with condition or rarity to the £12,000 ish mark, here you’ll also find plenty of V8-converted cars and few example with Sprint running gear.
Still fancy a TR7?
From all the TR7 examples that I have come across and those that came into my friends Bosch franchise for work I wouldn't be tempted, really terrible cars that should never have been created.
The UK motor industry instead should have come up with something along the lines of the Mazda MX5 and badged it an MG or Triumph,now that would have been a winner!
So be careful about which classic you may bid on!
Why do Governments simply take a look at the price of gold,,,,,May 1972 US $ 42 . Jan 2006 $ 534 .
Now unbelievably high,,,that is the rate of inflation.
What we are witnessing is failed Government policies, and gradual deterioration of Fiat currencies.
Not forgetting Pensions and savings, if true inflation figure were added to just pensions increases Pensions and PPF would have to default. The only other investment that sidesteps that inflation is the prices of houses , but of course when you die and pass it on ,there is inheritance tax.
Physical Gold can ,with thought ,can bypass tax and inflation.
The Gipsies have it right ,along with the Asians, coins and heavy jewellery.
End of sermon.
The TR7 was something of a poor relation: frowned upon by traditionalist enthusiasts of the older TR models, it hadn’t been around quite long enough to gain classic status purely on account of its age, while Harris Mann’s edgy wedge was perhaps a reminder of the decade we were trying to forget as we forged ahead into the ’80s and ’90s.
Nowadays though, things have very much changed and while a TR5 might rumble past a group of teenagers without raising an eyebrow, a TR7 – especially a coupe in the striking Triton Green – will turn heads. In that respect the passage of time has been kind to the TR7, even if the BL-era build quality struggled to shrug off the effects of successive British winters.
Some (not me) think the best-driving of all the TRs, the four-cylinder engine giving it handling balance the nose-heavy six-cylinder cars can’t match and its modern monocoque construction doing away with the separate chassis. and the suspension etc are from a different era with its MacPherson strut front end and four-linked rear axle.
The TR& was designed very much as a continuation of the TR2-TR6 line although its maker by then being part of British Leyland, the TR7 was the last car to be developed independently by Triumph. It’s also quite brisk and even the regular four-cylinder car can match a mid-’90s GTI.
As a classic today, the TR7 has excellent parts support thanks to the specialists and there’s very little you can’t obtain.
The convertible has survived in greater numbers than the coupe but there are plenty out there who prefer the hard-topped Seven simply for its look h means prices of the once-unloved coupes are now strong!
R7 now 37 years old and production having been carried out under BL, clearly structural rust will be the big issue. It’s thought that Canley and Solihull cars were better protected by the factory but there’s still plenty of scope for rot and unlike older TRs the unitary shell can’t be lifted off the chassis to make repair easier.
The sills are critical and on the TR7 they run behind the front wings, meaning that a quick repair with the dreaded ‘over sills’ may have left weakened rotten metal hiding in that critical area. BEWARE If cover sills have been welded on to the outside, this makes lifting the carpets to check the inside can give a better idea of the car’s solidity, unfortunately they were glued down originally this isn’t always possible.
Elsewhere, check the strut tops under the bonnet carefully and at the rear, examine the boot floor and spare wheel well.
All panel edges need a look, rust between floor and sills will indicate problems & bubbling in the seam along the top of the rear wings can be expensive to fix & rot in the joint between sill and rear wing & Inner arches, but less obvious is a corroded screen surround, Very expensive!
paint peeling off the aluminum headlamps is common, it’s the paint rather than rust.
Just how reliable a measure of inflation is the current CPI method, or RPI for that matter? Well, if you include classic cars, possibly not a very accurate measure at all according to the following:
Here is a very nice Triumph TR7 in 'Kermit' green that sold at auction in early May this year for £8640.
https://angliacarauctions.co.uk/classic/results/saturday-1st-sunday-2nd-may/1981-triumph-tr7-convertible/
If only you had been quicker, because just a few days later, the same car could be bought off eBay.
https://www.ebay.co.uk/itm/164920747215?hash=item26660ae4cf:g:Tk0AAOSwoKBglpIU
It's doubtful the seller will get the £12995 asking price, but if he should, I make that a 50% increase in less than a week.
Do I live in Britain or Zimbabwe?
I have seen many examples of the above over the last year or so. My poor old share and gold portfolio lost well over 10% in the last week. Would I swap that for a TR7? Not in that colour - in blue.....maybe. Then again, maybe not.
Purdey, from the New Avengers had a yellow TR7, but it kept breaking down.
https://www.youtube.com/watch?v=3wnabXEDtAg
So, you'd be better off with Mrs Peel's Lotus Elan.
https://www.youtube.com/watch?v=P41clz5_Rp0
However, whichever you choose, make sure it has a large glove compartment.
https://www.youtube.com/watch?v=UviwWIcOFQ8
Reminds me of a time when I was in Bamako, looking at all of the swish new Government buildings, with some African friends. The friend from Burkina remarked : "What a silly thing to do, now it is far easier to enact the Coup d'état, all the politicians are in one place" My Malian friend said, they were over this sort of behaviour in Mali (!?) unlike Burkina Faso. Well score Burkina Faso 1 (in 2014) and Mali 4.7, and thats in the last 10 years (2 in the last 12 months). Why the 4.7 you ask? Well in Mali they count a bit different to others. There are partial Coup d'état's, where they only talk loudly (where no one gets shot).
An aside, when filling out an application form for a Malian friend to become a Director of a company, I aked him his age. He said it was "64 turn back 2". I said I did not think I could write that down on the government form, and besides I did not know what he meant. He said it was because in Mali one had to retire when you are 65 years old, so each time he gets to turn to 65 years old, he turns the clock back a few years! He is now 64 turn back 3.
Funny world, enjoy it while you can !!!
best
the gnome
If you are looking for productivity gains (not to mention SP growth etc) in a "covid littered world", shipping news and money around by wires and cables, and making it secure, is probably the most secure place to invest in, although there is a large amount of "smokes, snakes and mirrors", so be careful
best
the gnome
Thanks Cowichan,
There are continuous disclosure laws, and also good business ethos, in letting the owners (shareholders) of the company know what is going on, and the results of the investments of the shareholders money. Centamin have a lot to improve espcially with respect tot he West African Investments, and the buck stops at the Board of Directors, who are an ordinary lot by performance.
I believe you should also contact the Governance committee, and this can be done through
Darren Le Masurier
Company Secretary
T: +44 1534 828 700
E: governance@centamin.je
Subject: Continuous Disclosure
......the policy phrase below
2.1 The Company adheres to continuous disclosure requirements as specified in its
Continuous Disclosure Policy, and will promptly release to both the London Stock
Exchange (“LSE”) and Toronto Stock Exchange (“TSX”), all communications of material
information, including but not limited to financial statements, operational results and other
statements of importance
https://www.centamin.com/media/1627/cey_shareholder-communications-policy_2019.pdf
Good luck, but they have to move to best business practises.
regards
the gnome
Snap!
MICHAEL RAWLINSON Independent Non-Executive Director of CAPITAL (DRILLING) is a key part of the team that has just launched this vehicle for snatching up African gold mining assets.
Company Overview and Strategy
"We are a blank check company incorporated on November 17, 2020 as a Cayman Islands exempted company created with the purpose of effecting a merger or mergers, amalgamation, **************, share purchase, asset acquisition, reorganization or similar business combination with one or more businesses. The Company intends to focus on a target with operations or prospective operations in the gold mining sector."
Latest News
MARCH 02, 2021
African Gold Acquisition Corporation Announces Closing of Upsized $360 Million Initial Public Offering
---------------------------->>
My Thoughts: These guys are all cashed up and ready to make an deal. They have loads of experience in-house and insider information on all the companies for which CAPITAL does drilling/mining services ...
https://www.africangoldcorp.com/team
https://www.capdrill.com/about-us/board-of-directors
Take the elephant in the room issue that halved our share price. We really don't know if the pit wall issue is legitimate. It began suddenly with the single statement 'movement was detected in the pit wall' No slide occurred.
Then a very expensive (or lucrative) arrangement was signed with Capital Drilling for a two year campaign to move MASSIVE amounts of material all at once. Is this justified? We'll never know as management simply glazes over the matter as part of an accelerated waste clearing endeavour while abandoning the mine plan that had been in place. Safety first - yes, of course but where is the publication of a competent third party - an assessment letter at least that proposes the best course of action? Mining companies always seek a second and third professional opinion. Shareholders were not given any details if this movement threat had indeed been thoroughly investigated by a third party specialist.
I say this because shareholders are JUST ABOUT to be handed the same 'sudden' decision regarding Batie West/Konkera. We will be advised after the fact that a deal has been struck with say - I dunno - Capital Drilling to share the development risk and costs or worse still a disposal of Burkina Faso assets to Endeavour. NOW is the time to get a resource update from the 600k meters of drilling. NOW is the time to address the problem of too much oxide ore if that indeed is a concern. NOW is the time to hear from Martin Horgan of exactly what the risk/reward equation is in Burkina Faso so SHAREHOLDERS are not blindsided by backdoor/under-the-table deals with the likes of Capital.
I might as well tell the BB that Centamin is currently being investigated by the FCA and OSC in regards to whether or not they have failed to disclose information as deemed material by the regulators. So if you have a serious amount of $ invested you might want to contact Centamin's IR Dept. and keep any responses for follow-up. It's your investment - act like it.
Sorry typos in last paragraph, posted by mistake should read
Whatever her religion and family beliefs Arlene Foster lost credibility by going into power sharing for a fee ( £1 billion) with the last minority Theresa May Tory UK government and now as a result she has failed represent the best interest of the Irish people.
https://www.independent.co.uk/news/uk/politics/theresa-may-20-000-raf-plane-fly-arlene-foster-dup-leader-home-belfast-deal-a7819116.html
https://www.theguardian.com/commentisfree/2021/apr/28/arlene-foster-thrown-to-wolves-johnson-brexit-games-northern-ireland
Hi RedSparrow,
Oh yes, I came across it on a regular basis, there are infiltrators in every party from the other side whose role it is to gain other members confidence/trust and feed their findings back to the other party HQ.
The labor party is infested with with pro Tory spies, one of their favorites is the good old anti antisemitism accusations , unfortunately that was used with great success against Corbyn, it was mostly complete lies of course.
As a union convener I met Corbyn several times long before he became party leader, poor old Jeremy he still had genuine political beliefs, certainly not the right man for leader in today's politics, that why the media were able to annihilate his credibly, although to be fair at least he had some, more than can be said for most today!
https://www.pinknews.co.uk/2021/05/27/arlene-foster-doctor-christian-jessen-affair-tweet-defamation/
Christian Jesson should have checked out the credibility of his information sources better,who knows he may have been set up, I hope Arlene donated the compensation money to a deserving charity,
Whatever religion and family beliefs Arlene Foster certainly up going into power sharing for a fee with the last ToRy UK govrnment represent the best interest of the Irish people or the union
https://www.theguardian.com/commentisfree/2021/may/02/arlene-foster-first-minister-northern-ireland-protocol-unionism
Ha Ha, my mother said the same, after being sent to a RC school.
It's sounds more appealing than my religious upbringing, Mr B.
Thinking of turning to religion ?
Check this one out !
https://on.rt.com/bao4
Hi Mr Tibbles
I see you are in fine form this Saturday.
I read recently that Arlene Foster had won about £110000 in a libel case. Someone on Twitter had accused her of having extra-marital affairs and generally being immoral. She is a woman of very deep faith and strongly family orientated. Those kinds of accusations must be very deeply wounding to such a person. So, well done Arlene.
I have a friend who stood for the Liberal Democrats in a General Election some years ago. The Conservative candidate put a rumour around about her having an affair with a married man, she was single at the time, and generally slurred her name. She confronted the Conservative candidate, and he just said that she should expect politics to be a dirty game. It's just another reason why decent people avoid becoming poiticians. It's a shame because we end up with the dregs of society in power.
I was wondering how much influence the REPO problems recently in the US had on the FOMC statement last Wednesday? Lot's, I suspect.
It's worth remembering that gold's cyclical bear market ended in December 2015, right when Ben Bernanke stepped down as Fed Chairman, and Janet Yellen took over. His 'gift' was to start tapering bond issuance, thus tightening monetary policy. Real interest rates were very low then, but gold began to climb, even as monetary policy got tighter and nominal rates (and real rates) rose. So, rising rates are not bad for gold at all times.
I noted that Donald Trump recently stated that the US dollar needs to be strong to ensure the US keeps its place as the largest economy in the world. It's a far cry from his presidential days when he wanted nothing more than a weaker dollar.
This week's market action has provided 'friends' the opportunity to begin to exit the wrong side. Again.
Thursday 22 July 2021 for the Q2 Production Report according to the CEY Website.
https://www.centamin.com/investors/investor-calendar/
on Tuesday 22nd according to this link.
https://portfolio-adviser.com/weekly-outlook-uk-and-us-consumer-data-ds-smith-and-berkeley-full-year-results/