Gordon Stein, CFO of CleanTech Lithium, explains why CTL acquired the 23 Laguna Verde licenses. Watch the video here.
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"AISC is not good" that is the same for all miners no? with inflation going up with obvious reasons then everything else will go up too right down the supply chain, prices going up for energy, food, bills, rent, petrol, materials etc etc so in logic its very logical that wages for mibers will go up, equipment will go up and so are the reagents the miners use, so give gold price a chance it will sky rocket next year no doubt about it and it will pull all the gold miners share prices up with it.
Hey Goldgnome,
Apologies for late reply, been on a golf break.
I agree on the CEY problem, the timeframes are too long, and I agree a lot of what Cowichan posted on reflection.
The AISC is not good, the markets operate at an exponentially increasing rate these days and this will not abate as the tech moves ever increasingly fast. It's like the recovery from the Oct2020 issues are too long, until yesterday's update, many thought (like me) would be much quicker.
New investors will most likely wait and see- as the up and coming financials won't be pretty. On looking at new finance, fine if it's for paying for expansion, but not simply to keep divis going and/or worse, paying for increasing costs- these divis would have to be reduced. the finance man was not very convincing.
Simply put, main SP movements always and will remain around RNS.
On the "will there be a crash", the biggest issue for me is all the doomsayers who constantly predict one, and have been wrong far more than right- for example the main indices in the US have increased massively, and a big drop would still put them ahead if they had simply put their money under their beds. I have a good friend who bailed after March2020 drop and is totally miffed he went low risk out of panic, and we had and have a "K" shaped recovery... can we all see anything coming? No is the answer.
For me- I'm going to move my main pension to more risk off balance now, to protect the big gains in the past 18months.
SJ
The gold price floundering is setting the price at the moment, and the LOM plan for Sukari was largely positive (not overly inspiring) in a LOM time span, but not so pleasant for the short term. I read the LOM now being well in excess of 10 years now, and continue to be intrigued about the underground potential.
So to the heart of the matter..the price of gold ...
Been going back over some notes circa 2007/8. In his Fall 2008 GMO letter, Grantham commented on his evaluation of the underlying causes of the then-ongoing world credit crisis:
"To avoid the development of crises, you need a plentiful supply of foresight, imagination, and competence. A few quarters ago I likened our financial system to an elaborate suspension bridge, hopefully built with some good, old-fashioned Victorian over-engineering. Well, it wasn't over-engineered! It was built to do just one under favorable conditions. Now with hurricanes blowing, the Corps of Engineers, as it were, are working around the clock to prop up a suspiciously jerry-built edifice. When a crisis occurs, you need competence and courage to deal with it. The bitterest disappointment of this crisis has been how completely the build-up of the bubbles in asset prices and risk-taking was rationalized and ignored by the authorities, especially the formerly esteemed Chairman of the Fed. ..."
I ask myself, 'Why is it that several dozen people saw this crisis coming for years?' I described it as being like watching a train wreck in very slow motion. It seemed so inevitable and so merciless, and yet the bosses of Merrill Lynch and Citi and even U.S. Treasury Secretary Hank Paulson and Fed chairman Ben Bernanke – none of them seemed to see it coming.
Well somethings do not change eh? Political and economic competence went missing a decade ago. No lessons learnt.
In the southern colonies we have state borders getting opened and shut like a sh@t house door in a storm (pity the poor tourism operators as the planes are still at 50% and getting less, which wshes into hotels, tourism operators etc), people preferring to work their way and at their pace, and get a pay rise for it. If not out on strike. Since early November the A$ has been descending from 75.5 US cents and is now hovering around 70 US cents. Chinese developer Evergrande is likely to be in default, amid reports it has missed a final bond payment deadline, but ... markets are shrugging off the news amid stimulus from China's central bank.
Just wish John Lennon would come back and give us an update in "Gimme some truth"...41 years ago, how time flies
https://www.youtube.com/watch?v=UaiGABTj0aA
best
the gnome
Looking at the sp now and other PMs, would have probably been close to this price without any announcement today.
Gold remains under pressure relatively speaking - still think all PMs are undervalued, this has been the case ever since the gold price started to drop post the big rise around the summer of 2020 when most analysts were predicting massive gold rises
The problem is that they have got to build 2 mines in the next few years one in Africa and one in Egypt assuming they find gold in their new concessions.That is a big ask for the company before they run out in 2034
The stand out comments are:
- mineral reserves increasing by 1.0 Moz net of depletion. This means they have added 2 years of mine life.
- much of the increase seems to come from underground sources, which are in my opinion the highest cash flow yielding ounces.
- this explains why the company wants to increase underground capacity
- they are cutting down on cash cost, yet this does not seem to be at the expense of targets set, which include:
- further reserves expansion
- in particular from underground.
Doropo is just a minor consideration.