Gordon Stein, CFO of CleanTech Lithium, explains why CTL acquired the 23 Laguna Verde licenses. Watch the video here.
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Hi 3bear,
How much does it make on the other two days a week?
Sukari operates 24-hours-a-day, 365 days of the year
https://www.centamin.com/media/2945/centamin-ar22-strategic-report.pdf
Currently $2028.39
Second attempt
https://www.mckinsey.com/~/media/McKinsey/Industries/Capital%20Projects%20and%20Infrastructure/Our%20Insights/Optimizing%20mining%20feasibility%20studies%20The%20100%20billion%20opportunity/Optimizing-mining-feasibility-studies-The-100-billion-opportunity.pdf#:~:text=McKinsey%20analysis%20of%20publicly%20available%20data%20finds%20that,and%20largest%20open-pit%20projects%20by%20around%2040%20percent.
Centamin at 160p please.
Just wanted to point out that with the GP at this level CEY is grossing more than $4million every day. (Mon-Fri)
I hope everyone has their seats in the upright position and their tray tables secured. I look forward to waving at Cowichan from 50,000ft.
Hi Letsi,
By all means if you have something you feel is more relevant, or some new news about Centamin then post it, however I doubt you have because at present the company has decided that it prefers to issue updates during prearranged presentations and quarterly updates, you may have noticed that the once regular and often quite incarnate Egyptian news releases about predicted guidance and gold exports from Cairo airport have ceased , this is a result of a policy decision by the company and intended to ensure that updates and news releases are factual; and accurate
The report is indeed very relevant to Centamin, Egypt and the region in general. and also because it is concerning the future availability and pricing of fossil fuels oil and gas , both of which influence miners operational costs and it also demonstrates that the Arab Emirates may well not be as committed as they claim to environmental issues , thankfully Centamin has commuted to weaning itself off its dependence on oil by employing solar energy from its own plant.
Sorry can I ask what has this got to do with Centamin or am I missing something ??
Major European indexes traded lower on Tuesday's premarket session ahead of the release of economic data and earnings results.
Before the opening, market participants received the latest reports from Germany's GfK consumer sentiment survey for December, but also during the day, consumer confidence figures for France will be released.
The DAX lost 0.14% at 8:07 am CET, while the CAC 40 fell 0.11%, and the FTSE 100 declined 0.07%. The pan-European Euro Stoxx 50 inched down 0.11% a minute later.
The euro was down by 0.09% against the dollar a minute later, selling for $1.09470. In comparison, the pound was flat to go for $0.79207.
Baha Breaking News (BBN) / JG
POG $2016.40
The United Arab Emirates planned to use its role as the host of UN climate talks as an opportunity to strike oil and gas deals, the BBC has learned.
Leaked briefing documents reveal plans to discuss fossil fuel deals with 15 nations.
The UN body responsible for the COP28 summit told the BBC hosts were expected to act without bias or self-interest.
The UAE team did not deny using COP28 meetings for business talks, and said "private meetings are private".
It declined to comment on what was discussed in the meetings and said its work has been focused on "meaningful climate action".
The documents - obtained by independent journalists at the Centre for Climate Reporting working alongside the BBC - were prepared by the UAE's COP28 team for meetings with at least 27 foreign governments ahead of the COP28 summit, which starts on 30 November.
https://www.bbc.co.uk/news/science-environment-67508331
It's a war with many names - The Yom Kippur War, the Ramadan War, the October War.
What is clear 50 years after it was fought is that it was a conflict that really did change the world. In this Archive on 4, Michael Goldfarb tells the story of the war that began on 6th October 1973 and ended less than three weeks later, yet somehow the combatants and the rest of the world still live with the aftermath.
The consequences of the war were immediate. Arab oil producers united for the first time and raised the price of oil precipitously. The resulting inflation in the developed world would end the post-World War 2 economic boom virtually overnight
https://www.bbc.co.uk/sounds/play/favourites/m001r0tz
Borrowing levels have soared during recent global crises. Author and financier Mike O’Sullivan asks if a reckoning is on the way. Have governments already accumulated so much debt that they won't have the resources left to handle the next big disaster - be it another pandemic, a war in Asia, or a global recession? And if so, which nations and regions are mostly likely to bear the brunt?
https://www.bbc.co.uk/sounds/play/m001styj
The “Art and Science” of feasibility studies has been the subject of innumerable papers over the decades and have been performed since commercial mining commenced and yet the success rate of the development of mining assets (the ultimate test of a feasibility study) is cited at 20% in the above paper (source: McKinsey & Company survey of 41 major projects with capex greater than $500 million completed between 2008 and 2018) and Lawrance (1997) reports that: “There is strong evidence that, at least for major projects, there is an unwelcome record of failure (Morris and Hough, 1986, page 5). The World Bank (1978) lists 109 operations of which a quarter had cost overruns of 25% or more, 10% had cost overruns of 50% or more. Apparently half had time overruns of 25% or more and a third had time and cost overruns of 50% or more.”
I THINK THE FIGURES ARE WORSE THAN THIS ... BUT ACCOUNTTANTS CAN MAKE THE FIGURES LOOK ROSIER
best
the gnome
Ha, I live in the driest state on the driest inhabited continent (some call it an island?), and we are having the heaviest downfall 3 days before summer starts ...weather patterns continue to change as they have for a few billion years ...
cheers
the gnome
Thanks Torn..
Interesting notes, and it seems that the industry is totally incapable of learning from its catastrophic failures. Part of what you describe is that yet again that they did not have the geomet model right, which is what blew 3 nickel laterite projects up, with one led by Twiggy Forrest..and losses of $billions ... If you dont understand the GeoMet, you will not get the design of the flowsheet for the Met plant right, you will not know what you are feeding into the plant and so on. The industry still seems to thinkit can design met plants based on a sampling of a fraction of a %..0.001% of an orebodies mass, Have a look at the work of Peter McCarthy in Australia ...
Surveys of many studies reported by RL Bullock in 2011 reveal that accuracy ranges are:
Scoping -50% to +30%
Prefeasibility -27% to +30%
Feasibility -20% to +27%
Detailed engineering -12% to +20%
These ranges are wider than generally understood but are constrained by what is practical (and what is achieved in reality is rarely within these limits). For example, many people expect a feasibility study accuracy to be +/- 10% but this is rarely achievable other than within the constrained boundary of the processing plant, and I would believe this when I see it. Estimates for mining and infrastructure are much less reliable. It takes twice as much effort (and cost) to reach +/- 10% as it does to reach +/- 15%.
In fact when you have a look at what happens in a gold processing plant, and the flow paths there its only marginally better than a thumb suck most of the time? Industry best practise is a long way whort of what is needed, and its 2023.
The logistics of supply for complex engineering projects is challenging at the best of times ... and during COVID times it was horrific.
Can you post a link to the mcKinsey article please
thanks
the Gnome
Goldgnome
I got caught out on HZM, but it was mid single digits in the portfolio and had traded a significant percentage to create free carry for some of it. The problem in HZM was having the banks and major funders making sure that HZM only had the minimum spare capacity of $30M (5%) in case anything went wrong. The company did extremely well on the build for 15 months. They then hit one problem after another in very quick succession. The problems were a reservoir dam which is essential for a nickel mine and they noticed soil at depth had changed water retention properties properties and so they had a big earthworks job, they discovered with new kilns installed that refactory requirements were underestimated (was incompetence), but a really big key hit was a major contractor unable to deliver causing a raft of other work to be delayed. The banks immediately stopped all funding and the company was to run out on its own resources in mid December. The cost of building nickel mines has absolutely rocketed in the past year, far more than gold mines. I suspect Glencore who are now in the driving seat are happy to get a mine 70% built on the cheap. McKinsley have done articles showing only 25% of all mine builds end on budget and time. 50% of them have issues like HZM. I should mention La Mancha who own 23% of HZM were on the board. HZM employed first rate contractors throughout the project. However, if you have several 1000 people on-site things can and do go wrong.
Goldgnome, is it a dry storm likely to start bush fires.
That happens here.
I hope no one got caught in this shamozzle. Board clean out, and however did this happen, and who was watching what (etc)
https://horizonteminerals.com/uk/en/press-releases/2023/board-and-management-changes/
https://horizonteminerals.com/uk/en/press-releases/2023/construction-update-for-the-araguaia-nickel-project-3/
Gold moving nicely. In a note published Sunday, commodity analysts at Goldman Sachs said they expect higher gold prices through 2024. In the report titled "Gold's shine is returning,' the analysts raised their 12-month price target to $2,050 an ounce.
"The potential upside in gold prices will be closely tied to U.S. real rates and dollar moves, but we also expect persistent strong consumer demand from China and India, alongside central bank buying to offset downward pressures from upside growth surprises and rate cut repricing," the analysts wrote.
watching a good elecctric storm light up the morning sky ....
the gnome
Sorry about the pronunciation Wally, don't know what happened there , must have been the spell check or me not checking due to being in a hurry!
Still nice to hear from you though!
Hi Wally,
How lovely to hear from you again. I do hope that you are well!
Thank you for the warnings about the beach and the algae in the lake, certainly something dog owners need to be aware of!
Yes wouldn't it be great to see the share price back to something respectable!
Wonder what that old Cornish miner who predicted £5 all that time ago would have to say about the mess Pardey made of running things?
Keep well Wally !
Best
Tibbs
Morning Tibbs.
Come on it’s Porthleven. I have 3 daughters living in Helston and I live very near Penzance.
Loe Bar is the most treacherous beach in Cornwall and many people have lost their lives be careful.
I walked our Lab many times around the pool. Again in summer don’t let your dog swim in the lake because of the algae.
Still have fingers crossed that after years of suffering our share price it will start to rise to a level that I might make a really good return at last.
Hope your keeping well
Thank you Mr Bond, I was just telling a client what you had brought to my attention and was intending taking a walk around the lake later this week in between the showers, may take a walk along the Penzance coastal path after the next meting , quite nice this morning!
https://rb.gy/ydbrzw
Agreed Razor's, lets hope the ceasefire can be permanent!
Gold over $2000
I've heard in the past that gold doesn't track inflation in real time but rather anticipates it. If that's the case I wonder what the price may be telling us
Nice
Major European indexes traded lower on Monday during the premarket session as investors closely monitored the latest developments of the Middle East crisis. During the weekend, two additional groups of captives were swapped between Israel and Hamas. Furthermore, the two parties involved in the Gaza conflict signaled that they would be willing to consider extending the ceasefire.
The DAX lost 0.16% at 8:00 am CET, while the FTSE 100 declined 0.27%. The pan-European Euro Stoxx 50 inched down 0.12%.
The euro and the British pound were flat against the dollar at 7:58 am CET, selling for $1.09484 and $1.26170 respectively.
Baha Breaking News (BBN) / JJ
Happy Monday y’al
* POG $2010 +
* US thanks Egypt for role in Gaza ceasefire