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Major stock market indexes in Europe rose in premarket trading on Wednesday as investors awaited a slew of economic data, including PMI and producer prices figures from the Eurozone. On the earnings front, Stellantis is among companies set to report quarterly results.
The FTSE 100 gained 0.36% at 7:24 am CET, the DAX climbed 0.52% at the same time and the CAC 40 increased by 0.56% at 7:22 am CET.
The euro was flat against the dollar, selling for 1.20179 at 7:25 am CET, while the pound added 0.11% against the US currency to go for 1.39024 at the same time.
Breaking the News / NP
It has got to the stage no matter what the US says will fall on deaf ears the east and Asia.
IMO.
They will continue buying and storing physical ,in order to escape the threats of Sanction and being cut off if they are prevented using the Swift system. And benefitting the US, by continuing to trade using the Reserve Currency ie, $.
Whilst being bullied.
thanks,
Stop panicking Sotolo, read the last paragraph!
The New York Times May 4, 2021, 12:18 p.m. ET
Janet Yellen says interest rates might need to rise to keep economy from overheating
Treasury Secretary Janet L. Yellen said higher interest rates might be needed to keep the economy from overheating given the large investments that the Biden administration is proposing to rebuild the nation’s infrastructure and remake its labor force.
The comments, shown on Tuesday at an event sponsored by The Atlantic, come amid heightened concern from some economists and businesses that the United States is in for a period of higher inflation as stimulus money flows through the economy and consumers begin spending again. The Treasury secretary has no role in setting interest rate policies.
Jerome H. Powell, the Federal Reserve chair, said last month that the central bank is unlikely to raise interest rates this year and wants to see further healing in the American economy before officials will consider pulling back their support by slowing government-backed bond purchases and lifting interest rates.
While the Fed is watching for signs of inflation, Mr. Powell and other Fed officials have said they believe any price spikes will be temporary and will not be sustained. On Monday, John C. Williams, president of the Federal Reserve Bank of New York, said that while the economy is recovering, “The data and conditions we are seeing now are not nearly enough” for the Fed’s policy-setting committee “to shift its monetary policy stance.”
Yes Capital Economics suggest gold will drop $200 by Christmas partly due to rising interest rates, as Yellen mentioned, and thus the higher opportunity cost of holding gold, which would put us back in the 70's until our output recovers and costs fall back obviating gold's fall. Let's hope Capital Economics is very wrong
Janet Yellen hinted interest rates "may" have to be raised, Kitco. 11-59 am yank time.
Just shows how jittery the traders are.
Or could it be they were leaked her speech on Friday ?
Hi spindler,
If you listen to the broadcast it was the US under Trump that was the problem, he was unwilling to sign up to a standardised Worldwide corporate tax , although if you recall he threaded the EU France with tariff's on their wine exports to US if they implemented higher taxes on Google US companies . Trump claimed he would decide what taxes US companies pay.
So quite a change in sentiment now .the EU and other countries will become tax collectors for the US!
Max Keiser is spot on about the US money printing machine , when the US wanted De Gaulle to take dollars instead of the French gold , he should have said he would take the dollar printing plates instead!
Took some Fres just now so I can have some skin in the silver game. Hoc looks peculiar...I need Sotolo advice on the latest with that..seems some political stuff afoot ...looks cheap though....but ive made that mistake before cheap can get cheaper
What about poly as a silver play ?
First Majestic Completes Acquisition of Jerritt Canyon Mine in Nevada, USA and Private Placement with Eric Sprott
All amounts are in U.S. dollars unless otherwise stated
Vancouver, BC, Canada - First Majestic Silver Corp. ("First Majestic" or the “Company”) (TSX:FR) (NYSE:AG) and Sprott Mining Inc. ("Sprott Mining") are pleased to announce the completion of the acquisition of Jerritt Canyon Canada Ltd. ("Jerritt Canyon") from Sprott Mining (the "Acquisition") and concurrent $30 million private placement investment in First Majestic by Eric Sprott, previously announced in the joint news release of First Majestic and Sprott Mining dated March 12, 2021.
Under the Acquisition, which took effect as of 9:00 AM PT on April 30, 2021, First Majestic has acquired all of the issued and outstanding common shares of Jerritt Canyon in exchange for 26,719,727 common shares of First Majestic and 5,000,000 common share purchase warrants at an exercise price of $20.00 per share for a term of three years. The $30 million private placement was completed by Eric Sprott at a price of $17.59 per share for a total of 1,705,514 common shares. As a result of Mr. Sprott’s participation in the transactions, Mr. Sprott beneficially owns and controls an aggregate of 28,425,241 common shares and 5,000,000 warrants, representing approximately 11.3% of the Company’s issued and outstanding common shares on an undiluted basis and 13.0% on a partially diluted basis.
Keith Neumeyer, President and CEO of First Majestic said, “With this closing, First Majestic adds another cornerstone asset to the portfolio and enhances our operating platform in a world-class mining jurisdiction. We look forward to commencing our work with the operating team at Jerritt Canyon to create value for our shareholders and welcome Eric Sprott as a continued significant shareholder in First Majestic going forward. In the near future, we will be communicating our plan for Jerritt Canyon which will include ways to further improve productivity and reduce operating costs.”
Mr. Sprott acquired the common shares in connection with the transactions for investment purposes. Mr. Sprott has a long-term view of the investment and may acquire additional securities of First Majestic including on the open market or through private acquisitions or sell securities of First Majestic including on the open market or through private dispositions in the future subject to certain resale restrictions, market conditions, reformulation of plans and/or other relevant factors.
ABOUT THE COMPANY
First Majestic is a publicly traded mining company focused on silver and gold production in Mexico and the United States and is aggressively pursuing the development of its existing mineral property assets. The Company presently owns and operates the San Dimas Silver/Gold Mine, the Santa Elena Silver/Gold Mine, the La Encantada Silver Mine and the Jerritt Canyon Gold Mine.
FOR FURTHER INFORMATION contact info@firstmajestic.com, visit ou
I just watched on RT the Renegade Inc episode on silver..thats what got me thinking although i have been following this since the first go at a squeeze after the gamestop short squeeze
brain fade of course Fresnillo thanks....i have been in and out of that seems to have come off it's highs lately and those were no highs of the to so distand past it's hit 16 and 20 quid before in the last 5 years at times
And this is one of the axes i had to grind with the EU allowing the like s of Starbucks and Amazon to set up shop in wherever Luxembourg, Dublin etc and get preferential treatment...that needed squashing like a bug right at the outset. Of course in cards they say play the man...and let's look at both the US and at Biden...they are not doing this out of any higher motive they are doing it for revenue pure and simple..... of course old Keiser did have a point that they had to keep taxing people because once people realised they(the US) can just print at will because of the reserve currency status...then all the sheep would stop working and demand free money....and amazingly because of covid this has actually started to happen !
Spindler Fresnillo is the largest silver miner in the world. I hold a large chunk in that as well as CEY. I’m not sure if you have read about wallstreetsilver on Redditt it’s definitely worth checking out it’s gaining massive traction over there it has over 75k followers all stacking silver
and that sounds like feudalism to me
Mr T isn't this just an extension of what they have been doing on an individual basis ? Ex pat Yanks can never escape tax filing in the US unless they renunce the citizenship. There was an article i read some time back an ex pat in switzerland some 30 odd years finally relinquishing his citizenship and they didn;t make it easy and it cost circa 10k USD. Old Max Keiser once commented they don;t really need tax dollars because they are all dollars that they print...i don;t think it's that simple they want your debt note to get the dollars and then they get the dollars back and they still have your debt note....
In order to diversify so i don;t have all eggs in CEY. What are the best silver miners to invest in any thoughts ? As far as FTSE goes There is Hoc which I've been in multiple times...seems there's some political trouble brewing on their patch though ? And Poly but i think that's it on the FTSE ? No issue buying on other exchanges so tips there welcome
120 by close of this week for sure!!!
Gold will fly in May!!
Fair comments Mr ,Gnome, Spindler & Mr Bond,
If you listen to my post BBC Business Matters from the World Service Biden's proposals on World Wide corporate tax rate seem quite reasonable , it's interesting to note that there is some consensus of opinion between the EU,Russia,China & now the US .
Of course dependent on if the UK are in favour this may have tax implications for Centamin as they are based in Jersey.
It seems that if Google is paying 12.5% tax in Dublin then under Biden's proposals then the Irish government would be required to collect the difference 8.5%from from Google on behalf of the US.
It would be interesting to learn of the justification in awarding Youssef so many free share's?
Possibly some special award for exemplary performance in something or other?
Good news about the Solar plant though!
Considering both Chinese and Japanese markets were both closed last night ,Gold has held on well.
GLA
Interesting indeed. Proper boomer mentality. Major pullbacks bound to happen at some point to cool off but even a tiny bit of research in that space and deploying a 2-5% of one's portfolio a year ago (or even beginning of the yr ffs) would have given a few 100% return which could then easily have been trimmed and re-balanced back to under 5%. Nothing wrong in diversifying after some research and due diligence. Happy investing gents and GL to us all.
it would be lovely to know what Hogan invests in that he thinks will make more than Cey and we could too
I have no problem with Martin Horgan being well compensated provided he delivers.
Pay peanuts and we will have monkeys ......
Very few real audits on any aspect of the financial system lol
Good luck all!
The gnome