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When first invested into gold I read that historical high inflation is good for gold. But this time inflation was so high gold never rally. It actually cause the opposite...
I wonder anyone can explain why is this happing? Is it because of the strong dollar? And thankyou tony for update...
Astro,
USA dollar was probably messing up gold for different reasons. China is now allowing imports of gold once again. The premium hit $119 per ounce last week but has now dropped to $80 or so on spot gold price. The reason the ban was imposed was to strengthen the currency. USA bragging on false data on Bloomberg was so over the top as to be obvious and laughable how the presenters could keep a straight face was academy award stuff or someone had a red hot poker nearby. Relaxation by China was an indicator of confidence in their own currency and the economy was responding to a degree to give some confidence.
The FED will do their hawkish pause and last time they did it, gold and gold miners rallied. I suspect a similar event again and we should have some kind of news from Centamin. Hopefully some drill results or something to suggest management and the company still have a pulse. Tony
Us kick gold down the hill again.
We need to support the Chinese and russia to get the gold to move up :)
Yes----hoping for a good one, but the way Horgan plays it, I cannot see it being brilliant. IF everything is going ok, I'd expect the figures to put them in front enough to be able to get an "easy" 4th quarter, but for him to hold something back.
If the waste clearance goes to plan or better then that should finally lift the share price next year (assuming gold is around the current price).
With everything starting to open up a bit, should a few more of those large, light bodied trucks be on order?
There is a big disconnect between gold prices and gold miners, noted panelists on Kitco Roundtable.
On Friday mining audiences manager Michael McCrae, Kitco Correspondent Paul Harris and David Erfle with the juniorminerjunky.com recorded round table at the Precious Metal Summit in Beaver Creek, Colorado.
During the first quarter of the year, gold futures traded above $2,000. Since then, the metal has mostly traded within a healthy band of $1,900 to $2,000. Yet, the gold mining index, the GDX, is down 3% year-to-date, while the tech-heavy NASDAQ composite is up nearly one-third.
Gold mining shares..."look like the gold price, you just have to turn the charts upside down," noted Erfle. "It's an amazing dichotomy."
Erfle said there are just better options for investors with elevated inflation, good rates on T-bills and other parts of the market showing more promise.
Harris noted the toll the gold market is taking on investors and companies.
"It's grinding down the management teams," said Harris "People have commented to me that they love the sector...but the joy has gone out of it, because it's relentless—the endless calls from disgruntled investors about when it's going to turn around."
https://tinyurl.com/pvz66zjk
*report
A drill for the newly acquired acreage.
Closed gap on buy side. Short closed with small loss. We may break through this time.
All depends on where they are still clearing waste from now.
Otherwise, Q3 will simply be an update of the current production, so dont raise your hopes just yet.
Yes Tibbs, they will have been getting around $1920+ for most of the quarter. Horgan likes a strong Q3 to give them an easy run to delivery of guidance in Q4. So I'm hoping for some big numbers and an SP booster.
This will be the "Teller" 3bear, if things have gone as well as we have been led to believe then there should be some respectable improvements in profits and share price, if not and we get excuses then be prepared for the share price to get a real spanking!
90.80 make or break. Waiting for us market to open to see.....
Senior Management representative from Centamin including the head of investor relations are touting for new business in North America this week!
Possibly that market offers more opportunities than the London exchange which is fast losing its influence attraction to companies especially since Brexit!
Not denying the other day to day influences but in compassion they are minor a few pence here and there for anyone who wants to bother, but any as long term holder knows the really major influences on this share price have been the loss of market confidence and the huge increase in CAPX after crack in the wall forced he admission of high grading for far too long by digging themselves into an ever deeper far too small diameter hole with walls of far too steep inclination.
If and when the Capital contract is concluded then with present gold prices the full benefits of open and underground operations will be reflected in the profits which from past experience should have a very positive effect to the good on the share price.
Q3 results presentation is October 19
IS the next earning date coming soon?
Q3 production to exceed 130,000oz for first time since July 2020.
Q3 revenue to exceed USD240,000,000
You heard it here first.
Some other influences? These are the main one as proven all the time.
There are more traders on here than you think Mr T- they just spend their time posting all the time.
Many read it for the views on the key SP movers- eg the economic indicators and RNS comments.
He must be a young man, and if so good luck to him.
To spend much of his life p$ssing into the wind is an interesting if not fool hardy strategy.
best to all~the gnome
Astro
The sell volume is way higher than the buy volume so the market maker has pushed the sell price higher and then dumped stock. In theory it should retreat, but we shall see if an institutional buyer is on the other side picking up stock at a higher price. It is always uncomfortable starting the day with a share having a large price gap up. It has remainder higher on the Friday close all of this morning on the buy side.
Centamin could go higher during the week. The Asian market has gapped gold higher for USA market this morning and . I am not sure if USA will sell miners and gold early on this afternoon.
Steve
It would be naive of anyone, trader, shareholder even potential investor to think that any posts on this forum or indeed any internet forum could influence the share price of any stock, so one can only assume there must be some other reasons why any of those groups should bother to visit or contribute to any such forum.
Around a decade or so ago when Centamin was indeed going through some very turbulent times this forum was a source of information from Egypt, most of which wasn't in any of the main stream and market until the following week or later media and the forum was also a source of actual mining related and legal information from professionals who were invested which provided great help and support to members of this forum.
As you point out this forum has no effect on the share price so why should anyone visit it,possibly they just enjoy the contact, or regard it as a place to chat or vent off frustration, nothing wrong with that if it makes them feel better.
Personally I'm glad that people like Cowichan take the trouble to post information and articles such as the one on the Capital waste contract which is after all a major component of CAPEX and a major drain on profits.
Whilst I'm not denying the some of the other market influences on the share price I feel quite confident that when the Capital waste contract comes to an end it will be a great boost to market and investor sentiment generally and the share price will respond accordingly.
By the way you may find the T2W forum of interest it is more about trading than this one.
Tibbs
So not going up then......
Market maker made a pigs ear this morning with wide spreads on Centamin. Precious little volume.
Ideally needed to be below and break the upper resistance line. Otherwise it looks like a bull trap. It may then fail with a lack of volume follow through. We shall see.
Looks like I hit a nerve with Cowchain, and it was supposed to.
Nothing he posts impact the SP, many of us are traders and not holders, he is neither, and he cannot abide any form of comment or anyone who would dare critic his posts.
His scattergun approach is yet to provide anything to impact the SP.
Economic indicators and company RNS info, of course do, and have consistently provided the necessary SP movements and not his scattergun specutlation.