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Is lower than forecast.
It’s like a hair in your ice cream, I wonder how the market will react given that the new life of mine report is so positive.
Seems to be good news but I don't understand the difference between Av Gold Production 506,000 for the next 9 years (2024-2032 and 75,000 ounces per annum for life of mine (2024-2034) in the following line:
- Average gold production of 506,000 ounces per annum for next nine years (2024-2032); and 475,000 ounces per annum for life of mine (2024-2034), reflecting a 5% increase in LOM gold production compared to FY22 (441koz)
Whoops
“ In September, as part of the routine mill relines, a potential issue was identified on SAG mill 1 ("SAG1") and the decision was taken to undertake pre-emptive repairs. The work was successfully completed and SAG1 has been fully operational since 1 October 2023
· As a result, production for the three months ended 30 September ("Q3") was 101,370 ounces. Despite being lower than the internal forecast, the build-up of high grade material on the ROM pad and increased operational flexibility in the mine plan means that 2023 annual production guidance remains on track”
Hmmmm… quick scan- first but reads good, jam tomorrow but looks believable
Rest is a bit odd- need to check what was published as expected q3- “internal target” was this different to “published”, either way is there catchup to be done in q4? Need to check the figures
Stock exchanges in Europe traded higher in the premarket hours on Thursday as investors awaited key data releases in the United Kingdom, which include data on the country's gross domestic product, industrial production, and trade balance.
The fresh readings could give more insight on the stability of Britain's economy in the face of global economic headwinds and restrictive monetary policies. In the hours ahead, European Central Bank will post accounts from its September policy meeting. Across the pond, the United States Bureau of Labor Statistics will release the latest reading of the country's consumer inflation.
London's FTSE 100 went up by 0.35%. The DAX gained 0.34%. The CAC 40 gained 0.06%. The Euro Stoxx 50 climbed 0.61%.
At 7:55 am CET, the euro rose 0.12% compared to the dollar, changing hands to 1.06332. The pound sterling added 0.11% against the greenback, with an exchange rate at 1.23274.
Baha Breaking News (BBN) / AB
Welcome to Chitty-chat Thursday y’al
Today’s event starts at 14.30 BST
(UK time)
To join the webcast: https://www.lsegissuerservices.com/spark/Centamin/events/e9d8edd6-7536-4e63-810f-a08189c4f89b
Please allow a few minutes to register.
A replay of the event and presentation material will be available on the Company's website.
*A positive day y’al
Gold currently + .26%
They can take the transport costs, petrol, diesel out of the Inflation index of course, LOL
The cost of the Australian newspapers has gone up 300% in the last few years, so I took them out of my shopping index (with the amount of BS in them , they should never have got in, in the first place !)
Sorry about that
couldn´t resist, go gold!
The Gold Gnome, safe in a golden bunker...
With combustibles rising ,tranport costs rise
In general causes inflation.
The FED is in a quandre ,no where to go.
Yep that was the worry the other day, less so now.
Need a lower than expected or at worse, in line, CPI print tomorrow, else 10yr will rise, and we all know what that means
The yield on the 10-year Treasury note hit a 16-year high last week, climbing to 4.884%. In the meantime, the 30-year Treasury bond yield crossed above 5% – something also not seen since 2007.
The combination of the U.S. dollar, U.S. Treasury yields, and oil rising at the same time is concerning, Alden told Michelle Makori, Lead Anchor and Editor-in-Chief at Kitco News, on the sidelines of Pacific Bitcoin Festival in Santa Monica, California.
This trifecta of events puts a lot of pressure on developing countries and lowers global demand for U.S. Treasuries and U.S. government debt instruments.
"Developing countries have dollar-dominated debt. And that debt is hardening relative to their cash flows," Alden said. "Their own currencies are weakening versus the dollar while oil is strong. And ironically, there's an inverse relationship between the dollar and Treasury yields."
When the U.S. dollar rises, other countries buy fewer Treasuries because of the high exchange rate, and yields tend to go up, Alden explained. "A lot of the foreign buyers are pulling back their purchases of Treasuries because they're more in currency defense mode," she said.
Making things worse is how quickly the U.S. dollar index has advanced, leading to developing countries going on a U.S. Treasuries' "buyer's strike."
https://tinyurl.com/2p9japbu
Oooops- PPI today, CPI tomorrow :-).
https://www.marketwatch.com/economy-politics/calendar
European stock market indexes experienced losses in premarket trading on Wednesday as investors examined comments made by Fed officials, who suggested that the recent rise in yields could actually help to combat inflation. Specifically, Federal Reserve Bank of Atlanta President Raphael Bostic stated that he believes there is no requirement for further rate hikes. Additional speeches from the Fed are expected later today.
The German DAX lost 0.17% at 8:01 am CET and the UK's FTSE 100 rose by _% at the same time. France's CAC 40 was 0.37% lower while the Euro Stoxx 50 decreased by 0.56%.
The euro was 0.06% down versus the dollar at 8:02 am CET to sell for 1.06005. At the same time, the pound sterling traded flat and sell for 1.22839.
Baha Breaking News (BBN) / RR
Happy hump y’al
Quite so Mr Bond, lets hope that this is good for the POG!
https://www.foxbusiness.com/economy/atlanta-fed-chief-bostic-doesnt-see-need-more-rate-hikes
Depends on cpi data released later today in the USA
No chance of credible deniability by the BOD this time then!
Feds Raphael Bostic sees no more rate hikes.
If the rest of them have softened good news for Gold price and Centamin.
Has the Tide turned ?
1:30 AM · Oct 10, 2023 - 251 Views
Last week we welcomed our #Board of Directors at #Sukari. In addition to Board & Committee meetings, they were able to witness first-hand the significant progress being made by our dedicated team in #Egypt to grow & optimise the #SukariGoldMine. 🤝👷♂️👷♀️
#CEY #gold #governance
pics here:
https://twitter.com/CentaminPlc/status/1711645288664793209
Hi Cowichan,
Shouldn't affect Centamin too much as I believe most buying will be in $ ,
Of course the local workforce might want a pay rise, but then their local currency is devalued.
Aside from its unique geopolitical significance, Egypt has a unique position in the global oil market that is not lost on the U.S. and its allies. Over and above its official conservative estimate of around 1.8 trillion cubic metres of gas reserves, Egypt controls the major global shipping chokepoint of the Suez Canal, through which around 10 percent of the world’s oil and LNG is moved. It also controls the vital Suez-Mediterranean Pipeline, which runs from the Ain Sokhna terminal in the Gulf of Suez, near the Red Sea, to Sidi Kerir port, west of Alexandria in the Mediterranean Sea. This is a crucial alternative to the Suez Canal for transporting oil from the Persian Gulf to the Mediterranean. The Suez Canal is one of the very few major transit points that is not controlled by China.
https://oilprice.com/Energy/Energy-General/Western-Companies-Look-To-Grow-Influence-In-Egyptian-Oil-And-Gas.html
Will NVIDIA (market cap > 1 trillion USD) be the next Enron?
https://laductrading.com/fraud-always-marks-the-top/
Major European indexes traded higher in the premarket on Tuesday following yesterday's Wall Street trend, as investors remained hopeful that the Fed may pause raising interest rates at its future policy meetings. Stock markets showed signs of recovery after the first impact of the eruption of hostilities in the Middle East, following Hamas' surprise attack on Israel launched on October 7.
The DAX gained 0.52% at 8:00 am CET, while the CAC 40 added 0.59%. The FTSE 100 rose by 0.33% and the Eurostoxx 50 increased by 0.96%.
The euro was flat against the dollar at 7:58 am CET, selling for $1.05621. The pound sterling lost 0.08% to go for $1.22281 at the same time.
Baha Breaking News (BBN) / JJ
Good night all ,sleep well. :-)
So if neccesary, devalue.
Will not affect Cey ,it can obtain anything it wants.
It can produce Gold, international currency.
On Thursday, October 5, 2023, Moody’s credit ratings agency lowered Egypt’s rating from B3 to Caa1, which is a credit grade that indicates the presence of significant risks surrounding the repayment of the state’s sovereign debt. ✅
◼️ The downgrade of Egypt's credit rating reflects the deterioration of the government's ability to bear debt, and the continued shortage of foreign currencies, in the face of increasing external debt service payments over the next two years, according to Moody's. ✅
◼️ Thus, Moody’s rating is now two notches lower than that of Standard & Poor’s Global and Fitch, and Egypt awaits the next review by Standard & Poor’s on October 20, followed by Fitch on November 3. Both have a “negative outlook” on their ratings for Egypt, according to Reuters.
https://www.bloomberg.com/news/articles/2023-10-05/egypt-downgraded-by-moody-s-amid-dwindling-policy-options#xj4y7vzkg
------------------------------->>>>
IMF says Egypt must devalue its currency further and quickly or Egypt's reserves will soon be gone.
What are the implications for Centamin ? Will it be able to operate if supplies are hard to obtain? Sure, more Egypt dollars for every US dollar received from gold sales - but if you can't obtain necessary supplies internationally - what happens?
What is the sustainability case for gold?
In the 1990s there were 180 major gold discoveries
In the 2000s there were 117 major gold discoveries
In the 2010s there were 42 major gold discoveries
Like to make a guess how many there will be in the 2020s. Hint land access is getting more problematical. Deposits getting deeper and lower grade. No new gold exploration tools for hidden deposits ...no direct detection tools ...
good luck with finding new gold deposits...in short supply
the gnome