Gordon Stein, CFO of CleanTech Lithium, explains why CTL acquired the 23 Laguna Verde licenses. Watch the video here.
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The Biden administration on Tuesday suspended oil and gas leases in Alaska’s Arctic National Wildlife Refuge
The remote, 19.6 million-acre refuge is home to polar bears, caribou, snowy owls and other wildlife, including migrating birds from six continents. Republicans and the oil industry have long been trying to open up the oil-rich refuge, which is considered sacred by the Indigenous Gwich’in, for drilling. Democrats, environmental groups and some Alaska Native tribes have been trying to block it.
https://www.cnbc.com/2021/06/01/biden-suspends-oil-and-gas-leases-in-alaska-refuge-pending-review.html
The LBMA has blagged a deferral of Basel 3 compliance for reasons of "Pandemic', all well and good but what they seem to forget the EU will be complying from June 2021, so the LBMA is up the creek without a paddle!
The LBMA deserves to go to the wall!
Hi George & Adam,
Thank you for your posts today, fantastic, reminded me of some of the times past on this forum!
Take care Mr Zambian, since the red sauce could brink you out in a rash!
https://www.channelmum.com/a/tomato-ketchup-preservative-causes-horrific-allergic-reaction-in-18-month
https://www.dailymail.co.uk/health/article-7494549/The-sauces-marinades-contain-TEN-TIMES-salt-concentration-sea-water.html
I hope Boris, Jacob Rees Mogg & Farage put plenty on their chips!
Apologies MrT off topic. Tomato ketchup is coming to the UK post Brexit. Happy days!!!
Tibbs and adam
No its no smartyphone for me just a android tablet....
Got another one for you both....
A member at the golf club having retired threw several hundred K at the Woodford funds ....he new I managed my own portfolio but kept braging about how well the funds were performing ....I recall him saying im 38k up in one of them and subscribing for the Patient one.....after a couple of weeks.... hey he said im up in this one too.
To the point I felt the old FOMO cross my mind .......
But I said to him..hang on your 38% up in less than 6 months .....what level of return are you looking for / or be happy with .....Personally i would crystalise those gains mate......
After the funds demise he stated
1: That he got out 2 weeks before the suspension of the funds
and then some 6 months later
2: That his name is added to those seeking recompense for their losses
Suffice to say we dont talk a lot about trading right now
I've much of my professional life consulting to IFAs and brokers albeit from a compliance/accounting/operational perspective and have seen how inept their operations can be. Perhaps that experience has inoculated me against seeking professional advice.
If you want a job done well - do it yourself. Or as Mr T puts it "If any of these brokers and investment companies were so good then why aren't they all using their own advice to become multi millionaires themselves instead of trying to get paid to take risks with clients money?"
Or as Cicero put it all of 2000 years ago - qui bono?
Hi George,
No problems with the spelling, in general chat I supported the request for an edit facility (possibly timed by 5 mins from orig posting) that would prevent changing posts in hindsight.
As far as I know peter was'nt from Cheshire, coincidence though two brokers with integrity!
You do well to post as you do on a Smartphone, neither my wife or I choose to use one, I have a couple of laptops and my wife has Apple Imac's, but both of us refuse to become smartphone addicted or social media slaves, we both prefer conventional flip phones that slip into the pocket.
Peter my old broker taught his clients about the markets as part of his service to them, you don't get that now from most brokers!
I gave up using brokers after my brush with the ones who got their hooks into me after Peter retired, you were so right not to have anything to do with that shower who tried to get hold of your portfolio and lump .
sum, what a nice little earner that would have been for them!
If any of these brokers and investment companies were so good then why aren't they all using their own advice to become multi millionaires themselves instead of trying to get paid to take risks with clients money?
Tibbs
Yes, in go(l)d we trust!... What other sector is good to pair with gold to escape the 250 billions of debt you mention?
Looks like we are rising today in line with the World recovery in trade/demand, and the P.O.G is still moving up on Comex and Spot. I can see us moving up past the Barenberg figure soon and no doubt will be attracting a number of favourable ratings very soon.
Apologies for bad spelling....Im outside with a poor signal I guess..but hopefully you got the jist ..
He MrTribbs
Thanks for a great thread and I agree with everything youve statec.
My first broker was a chap called Peter ...youre not from the cheshire area are you....
I used those Brokers just to buy penny puts....
I am somewhat surprised and bare with me if i am out of order here! that a guy as sensible as you still uses a brok though...
When I retired the firm arranged for us to meet up with one of these so called finance houses....
They would have took the lump sum...liquidatec my entire portfolio ...and I reckon id have been 5% down straight away...hence I do my own thing...
Either way keep up your brilliant posts my freind
ATB
George
Hi Adam,
You mentioned trading success, think on this -
Trading is hard. So hard that recent data disclosed by trading platforms show that, on average, less than 1 out of 4 retail traders make money.
Outside of the U.S., forex is commonly traded by retail traders using Contract for Differences (CFDs).
If you’re not familiar with CFDs, a CFD is a contract entered between a trader and a CFD provider. CFDs allow traders to speculate on rising or falling prices in an underlying currency pair (along with other underlying markets like indices, shares, commodities, and crypto).
Due to the recent measures adopted by the European Securities and Markets Authority (ESMA), companies that offer CFDs to retail clients are now required to display a “standardised risk warning, including the percentage of losses on a CFD provider’s retail investor accounts.”
Basically, trading platforms are forced to be more TRANSPARENT and now have to disclose what percentage of their clients are losing money.
At the bottom of each CFD provider’s website, they display a message that looks something like this:
Please note that CFDs are complex instruments and come with a high risk of losing money rapidly due to leverage. X% of retail investor accounts lose money when trading CFDs with this provider. You should consider whether you understand how CFDs work, and whether you can afford to take the high risk of losing your money.
Hi Adam,
If only I was exaggerating, but I speak from my own experiences and from other's whom I have tried to help recover some of their losses and more importantly their self respect and confidence after they have been encouraged down the same path.
I once used a broker who was a really decent chap and over the years became a great friend, Peter had principles that he abided by, he made a good living, but he never to my knowledge took advantage of his clients, he always acted in their best interest, even if it meant turning down a commission.
But Peter retired, times moved on, as did technology and the way we invest ,no more sitting in on that old leather settee on the other side of Peter's desk enjoying a glass or two whilst looking through various papers and company reports deciding which might be worth buying or selling, then if we weren't decided off to the pub to enjoy some real ale and put the world to rights!
Unfortunately I made the mistake of being too trustworthy with the new type of brokers on the block now, cost me a chunk of my portfolio and my health at one point, but I decided to turn a negative situation into a positive one by using knowledge gained from the experience to my advantage and to help others avoid the same pitfalls, or if they had already fallen in then to help them get out again!
In general, certainly on web forums people are more inclined to talk about their trading prowess or investing success than their failures. understandable I suppose, after all they can be whomever they want to be on a forum, real life as we know is quite different.
The web is a marvelous thing when it is used for the good, but unfortunately it is also a marvelous thing to use for the bad!
A broker is more likely to consider the credibility of trading advice they offer a client sitting opposite them than a client they have never come face to face with on the end of an internet connection !
Tibbs
Gold will hit new highs and keep going, there are eye watering levels of debt, which will soon be approaching 250 trillion Dollars!!!!, endless money printing, debasement of currencies, its the perfect storm for Gold, but the fallout for so many will be unimaginable, meanwhile, the Billionaires just get richer, nothing changes.
Let's forget about Libelium (!)... What is the next big thing we are all waiting for CEY to happen, please?... I've got dry powder, but what I am waiting for?
And I thought I was a cynic but Mr Tibbs you've outdone me!
You post a hellish dystopian picture of people fleeced to within an inch of the shirts on their back just because they lack the capacity or tenacity to think and act independently. I'd like to think you exaggerate but maybe not. You never here about this side of investing. Only the winners!
I hope I never join this particular madding crowd....ouch!!
Any macro gold folks on this board watching this development? Trying to understand the facts and timelines - but I understand Basel III upgrades gold to a risk free asset and furthermore requires that this may only apply if the gold is in an allocated account or physically held. Paper contracts and unallocated gold, in contrast, require 85% capital backing. The impact of this on comex action, and gold leasing, would be profound. I believe it goes live with EU banks end of June, and (I think) also US banks a few days before. It goes live in UK from January next year. If you believe that central banks need to recapitalise, then they would have every incentive to allow the gold price to appreciate substantially. The fear is that EU has 10k tons, US 8k tons, but UK has diddly squat. So it will f*** over the UK into the bargain which for the anti Brexiteers in the EU and US dems is a convenient side effect. Thoughts anyone?
You could put 10p on today’s share price and the stock would still be cheap.
Excellent post Tibbs, it really is a corrupt world where money is concerned,hope all is well,keep up with your posts it would not be the same without you. G. L. A.
Quite so Auson,
But the brokers don't care because so many traders want to be in and out in a day to avoid paying leverage costs or being knocked thru their stops!
None of these brokers are factoring in a Gold price well in excess of $2200. The sentiment a move like this will propel the PM miners much higher.
Adam,
You are quite right,they have no obligation to explain their reasoning behind their valuation, most likely this morning a number of their clients would have been knocked through their stop losses by the "gap up" on their CFD's and now be liable for trading commission, CRD in & out costs .Leverage fees and a nice loss!
In contrast Liburam will have made their commissions , CFD fees, whichever way the clients trades went!
If a client challenged them they would probably be told "Oh the market or sentiment moved against us" or "We can't get it right all the time!" "Thing to do now is get back in, open another position!".
Those clients that are still dizzy from being hit between the eyes by a Monday morning CFD slap down will probably be fooled into making the same mistake again out of desperation and some hope that the broker is on their side, so Liburum will make more commission and in and out CFD fees!
This will go on until he client has lots all their funds, their portfolio is gone or in ruins , even their home is at risk if it was put up as security against CFD leverage!
The bank lending the money will show no mercy and the broker won't care they will have hooked the next sucker!
This type industry that has been allowed to fester and propagate within the UK financial sector for far too long and the regulation of it is unfit for purpose, and rarely enforced, possibly because victims feel they are to blame, or are embarrassed to admit being taken in, the resulting misery, despair and ruination is on a far greater scale than the payday loan scams. the online Casino's,betting shops and bingo although the regulation these and and the consumer protection somewhat more effective, if victims are willing to ask for help!
But I digress, there is most probably far more to the ridiculous brokers rating than we can tell at this stage, but we are fortunate enough not to have been taken in for whatever reason, some unfortunately have been had, that will always be so,until they start putting some of the perpetrators of the unscrupulous practices behind bars!
As Cowichan says West Africa is extremely important to Centamin and as I have said on a number of occasions it is a great place to develop mones given the depth of experience already available. I have no idea why the board has said Batie West/Konkera or indeed maybe Burkina Faso is non core BUT a guess as others have said it is the refractory nature of the ore and then I would suggest the confusion around the processing method which has already been very well covered by Goldgnome.
Lycopodium are in my view the most experienced company in West Africa when it comes to planning and advising on the correct process and if they have reservations then I can understand the focus on Doropo and ABC over Burkina at this time.
I would also like to know what is meant by "Third Party" is this a joint venture, is this a sell off who knows?
I was hoping that Batie/ Konkera would be a let's get mining the oxides, using a form of simple leach process and use contractors operating 100 tonne trucks or smaller and get to know the nature of the mine and grow into the mine BUT Centamin are not that sort of company and does look as though they have reverted to type namely a conservative approach.
I think as it has already been suggested we need answers to why non core and what does third party really mean.
I do however favour the idea of focusing on the less risky options of Doropo and ABC and if the third party means bringing in a partner with added value to develop the Burkina assets then again I am all for it as I would hate for them to walk into something that they are not comfortable with purely because of bravado.
Really difficult decision as pretty much a no win, sell it and see it blossom under different management (heaven forbid Endeavour) keep it and it becomes a drain on funds.
I know technology has moved on but Bogosu had similar issues at the outset and the solution was use a roaster at considerable cost so much so went bust and the finance company had to run the mine until they introduced the then new technology "bug plant". The then forerunner of Lycopodium namely Minproc also suffered from their recommendation.
I would like to know more detail about the non core statement but am as I have already said very happy that there is a plan in place to develop Doropo and add value to the company with an additional mine, hopefully with ABC close on it's heels.
2/2
This column has yet to strike it rich with Centamin: the shares are showing no gain since our initial analysis more than two years ago as the firm has disappointed on production volumes and costs more than once. A development plan announced last week for its assets in Burkina Faso and Côte d’Ivoire also went down like a lead balloon with analysts. Yet the company should be primed to capitalise if gold prices do shoot higher, especially as a first-quarter update in April reaffirmed 2021 goals to produce between 400,000 and 430,000 ounces of gold at an “all-in sustained cost” of between $1,150 and $1,250 an ounce.
Admittedly, that means production will be lower and costs will be higher than in 2020. But the targets still underpin management’s aim of paying out at least $105m in dividends. That is the equivalent of at least $0.09 a share, enough for a yield of 5.8pc, and the higher the gold price goes, the more chance for higher profit, cash flow and dividend forecasts.
Centamin could yet regain its lustre.