George Frangeskides, Exec-Chair at Alba Mineral Resources, discusses grades at the Clogau Gold Mine. Watch the full video here.
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Seems to me Cowichan is not on our side, recently all he's interested in is trashing this stock. There is no bit of news relating to this company that he will report as positive though there has been plenty.
Gold: YTD +0.8% 5yr +60% (note- marginally down though in the past 3yrs)
OK:
All of the below are EXCLUDING Divis- inflation is the key common reason- precious metals nowhere near keeping up with inflation past 5yrs:
CEY : YTD -28% 5yr -19%
FRES: YTD -40% 5yr -40%
HOCHS: YTD +16% 5yr -47%
SRB: YTD +30% 5yr -6%
SHG: YTD +11% 5yr +135%
BARRICK: YTD -7% 5yr +29%
NEWMONT: YTD -21% 5yr +32%
For comparison on some key indices:
FTSE 100: YTD -2% 5yr +7%
FTSE AIM: YTD -19% 5yr -30%
S&P 500: YTD +12% 5yr +61%
Dow J: YTD +1% 5yr +35%
NASDAQ: YTD +27% 5yr +84%
NIKKEI: YTD +22% 5yr +48%
HANG SENG: -15% 5yr -31%
Ignore my last post- pressed wrong button- will complete shortly.
All of the below are EXCLUDING Divis- inflation is the key reason- precious metals nowhere near keeping up with inflation past 5yrs:
CEY : YTD -28% 5yr:
FRES:
HOCHS:
SRB:
SHG:
BARRICK:
NEWMONT:
Hi Rebess, I wonder if the recent Centamin price hedge contract is similar t this ?
https://www.lbma.org.uk/alchemist/issue-12/the-hedging-advantage
Hi Rebess,
Agree entirely!
Price of Gold very close to $2000 now and likely to breach this over the coming days and yet Centamin sp is nowhere to be seen. - People can philosophise all they like and experts can expert all they like, but something doesn't add-up here.
I'm pretty sure that everyone including Cowichan hopes that you are right, shareholders certainly deserve some good news!
All too often Centamin shareholders seem to behave like startled rabbits in the car headlamps, frozen stiff, afraid or unsure which way to move and seem afraid of asking a perfectly reasonable, or possibly awkward question, or even express what may well seem to be a justifiable criticism because they think it might be used by the market or traders to knock the Centamin share price down from its already bottom of the bargain bucket price, this of course is ridiculous to say the least!
The gold price is getting close to $2000 and yet the Centamin share price is less than 85p, that speaks for itself, people understandably remain deeply suspicious of he marketing and slick presentations because Sukari has yet to deliver and the Cemtamin management have gained a reputation for feeding the shareholders baloney, not even good balcony far too many times for far too many years in the past and it seems from this latest QÂŁ report that they may be trying the same tactics again!.
Cowichan is on our side, he does the research and asks the questions which really Centamin should answer, or at least give a reason why they choose not to, but instead they resort to blocking him on social media and linkedin, one must question the reason why, surely even if the question is based on incorrect information isn't it better to respond in a polite and professional manner, failure to do so does not put the company in a good light!
My emails to Centamin and to FTI now go unanswered , although I am led to believe that this is now the new company policy!
I would be delighted have some substantiated proof, or reason to praise the Centamin management, but as yet I can see no reason to do so, in fact quite the contrary.
Hi Paul,
I suspect they know more than they are letting on now!
How many time have we heard this in the past, how do we know its not more kicking the can down the road or stringing us along again?
Mr T --check the RNS from the other day.
It said "· Doropo Gold Project definitive feasibility study (mid-2024)"
Is that when the deciion will be made one way or another?
Hi Dasut, if Doropo gets the green light there will be a period when tens of milions of dollars are going out the door and into the ground in West Africa every quarter for no return. So the build phase will be a tricky period I guess...
Hi Dasut,
A mining annalist acquaintance of mine from what information has thus far been released described the Doropo projects as "Hardley a dripping roast!"
I realise since then gold prices have risen, but that said they cant be guaranteed and of course there is always the African risk factor of corrupt government, military cue or insurrection by jihadist and other rebel groups.
But those factors aside what should concern any shareholder or potential investor is that Centamin thus far has hardly a good track record regarding the creation of commercially viable mines outside of its Egyptian comfort zone, that said even then the management through a mindset of short term high profits at minimal cost achieved by deliberate bad mining practice and glossing over the true facts has created an appalling mess at Sukari for which shareholders are paying a heavy price!
I remain unconvinced about the Doropo prospects and cant help but wonder if it is being used as a diversionary tactic from the ongoing Eygptian problems at Sukari which has yet to deliver and will Doropo end up as being yet another money pit which will end up being handed over to someone else or just abandoned?
Cowichan it's been only 12 months since Cey cleared 127500oz in Q3 2022 - not so far away from 130. And Horgan mentions new "flexibility" in the open pit as a result of all the waste stripping - meaning access to better grades is available. I say Q4 production , barring further unforeseen production issues, will be very close to or in excess of 130000oz. You say not. Let's see who's right.
Paul right now I would settle for silver toe caps which is far better than the tin that we can maybe afford at the current SP. Will be a while before we get near the gold flip flops.
A question was also asked about when Doropo will influence the SP which again is a difficult prediction.
Initial impact will be when the green light is given to go mining. Then another impact will be when they ship the first ounces. My belief is that both of these will happen but when I have no idea.
Mr Bond tend to agree that is why I am asking where we are hearing that the plant closed for 30 days. As Cowichan rightly says 130,000 ounces is a big ask so they need a kick start of a considerable number of ounces.
Can the plant produce 130,000 ounces at the current low grades I don't know so worthy of a question for the retail presentation.
From my experience I have never ever seen a mine working at 100% of the optimum feed. By this I mean a truck feeding the mill, with the next truck backing up just as the truck feeding is moving away. This allows a percentage of time to feed with loaders from the ROM.
Guess it depends on the overall efficiency of the plant as to whether there is capacity to achieve the necessary ounces.
Https://www.swissre.com/institute/research/sigma-research/Economic-Outlook/us-economic-outlook-september-2023.html#:~:text=After%20an%20estimated%202.1%25%20real,%25%20by%20year%2Dend%202024.
The odds are on Israel going in- the main gold driver at the moment- US remains economically strong, jobless claims, gdp etc/ you can all research.
After going in quick again today- I may hold over the weekend as gold could continue to accelerate on balance. Of course could drop on counter news, but on balance….
With CEY being confident on hitting low end (they must have something up their sleeve like Dasut mentioned)- again on balance more likely than not- get your questions in for the 30th October!
We all know the questions
Yes, strange old world ... Some v interesting if not balanced (there is a lot of unbalanced stuff floating around) conversation ?
We are pleased to announce the release of the next instalment of John Anderson Conversations, with Victor Davis Hanson.
John is joined by military historian Victor Davis Hanson to discuss the escalating conflict in the Middle East. This conversation was recorded on Wednesday the 18th of October.
Hanson argues that Israel is in a unique position to retaliate unencumbered by American opposition, due to the bi-partisan support it currently has in the US. However, he contends that conflicts like this, and others such as the war in Ukraine, would probably not have transpired had President Trump still been at the helm.
Victor Davis Hanson is an American classicist, military historian, columnist, and farmer. He has been a commentator on contemporary politics for the National Review and The Washington Times and is currently the Martin and Illie Anderson Senior Fellow at Stanford University’s Hoover Institution.
In addition to writing hundreds of articles, book reviews and newspaper editorials, Hanson is also the author of twenty-four books and hosts a regular podcast series, 'The Victor Davis Hanson Show'. Hanson was awarded the National Humanities Medal in 2007 by President George W. Bush, and was a presidential appointee in 2007-08 on the American Battle Monuments Commission. His latest book, The Dying Citizen, was published in October 2021.
https://www.youtube.com/watch?v=FG0cgViEcc8
Its good to get away from the trail of the lemmings
best the gnome ... and go gold !!!
Prospects for Gold are significantly improving, and CEY as the best UK listed Gold option here (IMO) is now simply looking way too cheap.
I know there are other things going on but gold has risen about 8% in the last week or so and our price is about the same as it was a week ago???
It's a weird old share this.
Interestingly, my crypto portfolio is going good guns too- and before anyone mentions certain undesirables using too, it’s not the tool-
It’s the people using it
Interesting times indeed Goldgnome- watched it all too- go gold :-)
Equities in Europe traded lower in the premarket on Friday after the previous day's losses across the pond that followed United States Federal Reserve Chair Jerome Powell's hints of new interest rate hikes. Meanwhile, the United Kingdom reported a monthly decline in October's consumer confidence while awaiting the update on its retail sales and Germany's producer prices.
The DAX dropped by 0.69% at 7:36 am CET. At the same time, the FTSE 100 lost 0.39%. The CAC 40 decreased by 0.79%. The Eurostoxx 50 slid by 0.81%.
The euro fell by 0.08% against the dollar at 7:47 am CET to sell for $1.05738. At that moment, the pound sterling went down by 0.13% against the greenback to change hands for $1.21286.
Baha Breaking News (BBN) / JR
Happy Friday y’al
Enjoy your weekend.
Everyone in financial markets seems to have a different explanation for why US bond yields have reached their highest level in 16 years. now...distilled down to just three.
Jerome Powell started with what was not causing higher yields that translate to rising borrowing costs for business, government and households.
“It’s not apparently about expectations of higher inflation. And it’s also not mainly about shorter term policy moves,” the Reserve Bank chairman said on Thursday (Friday AEDT).
Federal Reserve Chairman Jerome Powell said the Fed was “attentive” to the rise in yields. AP
Powell means financial markets are not trying to guess what the Fed is going to do with interest rates in the short term because if they were, they would have pushed up yields substantially on shorter term yields such as 2-year bonds. Instead, the higher yields have been on longer dated bonds.
So, then why push up yields on longer dated bonds?
“Markets and analysts are seeing the resilience of the economy to high-interest rates. And they’re revising their view about the overall strength of the economy and thinking in the longer term, this may require higher rates.”
Second, Powell points to the fiscal side of the ledger.
“There may be a heightened focus on fiscal deficits,” he said, “concerns over fiscal deficits could be a longer-term factor.”
Powell has just returned from the latest World Bank and International Monetary Fund meetings in Morocco where he heard that a lot of “countries are facing the need for substantial amounts of revenue....[for] military, there’s also dealing with climate change”.
“It’s not a secret...we know that we’re on an unsustainable path fiscally. It’s not that the level of the debt is unsustainable, it’s not, it’s that the path we’re on is unsustainable, and we’ll have to get off that path sooner rather than later.”
Powell then moved on to the third reason: better compensation for putting your money in bonds compared to equities, especially if the supply of bonds is bigger, pushing down their price. Prices move in the opposite direction to yields.
“Another one you hear very often is the changing correlation between bonds and equities.”
“If we are going forward into a world of more supply shocks rather than demand shocks, that could make bonds, a less attractive hedge to equities. Therefore, you need to be paid more to own bonds, and therefore, the term premium goes up.”
Powell said these changes were all pointing to higher borrowing costs. “If you look at financial conditions indexes, they’re showing tightening and a lot of that is because of longer rates,” he said.
IT WONT BE THE SUPPLY SHOCKS BUT THE MILITARY SHOCKS ...QUITE LUDICROUS FOR NATIONS THAT REGARD THEMSLVES AS DEVELOPED....OR EVOLVED
Go Gold
The Gnome
The only job you seem to have MrBond is covering up for Centamin's mismanagement - whom you continually worship for giving shareholders dwindling dividends, a flailing share price & ever rising costs - if that is your definition of a normal shareholder then you are anything but