George Frangeskides, Exec-Chair at Alba Mineral Resources, discusses grades at the Clogau Gold Mine. Watch the full video here.
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CAIRO – 29 November 2017: Around 404 kilograms of gold from Sukari gold mine
The Sukari gold mine targets producing 600,000 ounces of gold in 2018, up from 540,000 ounces in the current year," Chairman of mineral exploration and mining company Centamin Egypt Youssef el-Raghy said in November!
Plot
In order to appear superior, a miller (Youssef) lies to the king (Sisi), telling him that his daughter (Princess Suakari) can spin straw (low grade waste)into gold.] The king calls for the girl, locks her up in a tower room filled with straw and a spinning wheel, (LHDR) and demands she spin the straw into gold by morning or he will cut off her head (Concession licence) When she has given up all hope, an imp-like creature (Pardey)appears in the room and spins the straw into gold in return for her necklace (since he only comes to people who are seeking a deal or a trade) (or dividend). When next morning the king takes the girl to a larger room f( Open Pit) filled with straw (low grades ) to repeat the feat, the imp once again spins, in return for the girls ring(Share holders) trust )On the third day, when the girl has been taken to an even larger room filled with straw and told by the king that he will marry her if she can fill this room with gold or execute her if she cannot, the girl has nothing left ( the open pit is full of waist)and with which she can pay the strange creature. He extracts from her a promise that she will give him her firstborn child, and so he spins the straw into gold a final time.[no
https://en.wikipedia.org/wiki/Rumpelstiltskin
All markets have been affected by that FOMC meeting, but I keep in mind that gold had a directional change last August and another directional change in March this year. I don't think this pullback in the gold price marks a new direction down. I look at the price in sterling; a three waves decline should only give us a maximum Fib 78% around £1220ish per ounce. We are on a 50% decline from our recent peak, so if I'm correct, I hope we get a bounce soon before the final move down. Once the pullback is finished, I hope we'll be racing again. The good thing is that the banks will be short covering, which will keep the price from falling too much. I ask myself the question: should I sell my physical gold now and buy it back cheaper in the future? The answer is no!
For Centamin, it hasn't gone down that much with the fall in gold price (Yamana Gold - oh dear!). The crazy gang's forecast the other week did far more damage. Weaker sterling also helps the Centamin price. We've got used to a penny up and penny down share price movements over the last few month. Centamin is already cheap with a good dividend. It's too late to panic now. Again, it's a good long-term hold. I'm sticking with it.
It's a very dull morning at the moment. It's not open top car weather; more like get the Turtle Wax out and give the paintwork a good polish.
Sadly my crystal ball is and it shows snow cold and down for now, but then…
My tea leaves nor Crystal Ball, are not clear.
Maybe its the weather.
MrBond wouldn’t that be a sweet reward for the long suffering shareholders, for all this waiting around.
Are you expecting it soon?
Perhaps the Chinese would like to change the direction ?
;-)
I miss those days Razor - thanks for the memories!
Remember the weekly shipments from Cairo to Canada
Still going on of course just not publicly reported.
https://www.egypttoday.com/Article/3/34693/Sukari-mine-exports-404kg-of-Egypt’s-gold-to-Canada
“The non-stop year-round Montreal to Cairo link will also facilitate the expansion of Canadian companies in the robust Egyptian market, enabling them to secure major commercial opportunities in key industry sectors such as mining...
A delegation from Air Canada has met with leaders of Egypt’s business community during the former’s current visit to Cairo.
The meeting witnessed the announcement of Air Canada launching its non-stop year-round service from Montreal, Canada to Cairo, Egypt.
https://dailynewsegypt.com/2021/06/18/air-canada-launches-non-stop-year-round-service-from-montreal-to-cairo/
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This will be helpful for Barrick, B2Gold among others yet TBA...