Rainbow Rare Earths Phalaborwa project shaping up to be one of the lowest cost producers globally. Watch the video here.
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Just to say Warren Buffet has never paid a cent dividend on Berkshire Hathaway stock as he always felt he could create more value for the shareholder by investing it.
As long as shareholder value is created at CEY then I don't mind if the dividend is zero. Sotolo I don't see Doropo as self-aggrandising but a serious project that I hope is going to create the kind of SP growth we're all after?
Usual lazy article from Kitco, who'd believe they are pro gold lol, and to think they get paid for this type of thing :-).
He'll do anything to try to dissaude those people who think crypto is digital gold which, of course, it isn't. For an asset (BTC in particular), that is up 48% in the past 6months, and down about 3% calling it a "tumble" is bizarre...
Major European stocks posted gains ahead of the last session of the week as investors awaited the newest inflation readings from France and Spain, as well as first-quarter GDP data from the United Kingdom. On the earnings front, Societe Generale and Allianz released their first-quarter results earlier today.
The FTSE 100 and the DAX added 0.30% each at 7:39 am CET. The CAC 40 rose by 0.34%, with the Euro Stoxx 50 increasing by 0.20% at the same time.
Both the euro and the pound made slight gains against the dollar at 7:44 am CET to sell for 1.09280 and 1.25231, respectively.
Baha Breaking News (BBN) / ND
Happy Friday y’al
Enjoy your weekend!
Fair comments Sotolo!
Hi Dasut and Mr Gnome
Thank you again for offering us all the benefit of your personal professionally based experience and insight in the mining industry which also corresponds and confirms many the already expressed thoughts of Kees Dekker, certainly on the issues of turning Sukari around.
Martin Horgan has always been of the opinion from the start of his tenure that creating increased "working flexibility" was a key factor in achieving ongoing deliverable guidance at Sukari!
Cryptocurrency prices continued to face downward pressure on Thursday despite the latest CPI data showing inflation is cooling. The main culprits affecting asset prices across all markets include the ongoing banking crisis, which is now focused on the regional bank PacWest, and the threat of a U.S. default on its debt.
https://www.kitco.com/news/2023-05-11/Bitcoin-and-altcoins-tumble-as-U-S-debt-and-banking-woes-intensify.html
Yes Mr it could be that if the USD weakens too much, they may find it difficult to borrow and indeed the rethoric from the Fed going forward could sound like thretening to rise rate, but actually never do it.
Gnome I thoroughly agree Doropo reminds me so much of the early days of Newmont's Akyem resource in Ghana. Prior to start up and from memory the resource was known as a string of pearls approximately a dozen areas over about 20 km or more.
Initial talk was so similar to Doropo but I am told they are now extracting about 400,000 ounces per annum, however Newmont are known for playing cards close to their chest. The initial fleet was similar to the initial fleet for Sukari, based around 150 ton trucks Cat 785 size class.
I am sure Centamin will initially go contractor mining to work their way into the resource and feel this will mean the truck of choice for contractors in West Africa being the 100 ton Cat 777 size class, which is OK given the tonnage that is likely to be involved over the first 5 years production.
I don't like long hauls particularly in developing countries that can suffer from heavy rains on laterite roads especially the night shift where sleeping is extremely difficult during the day for machine operators in the tropical heat. Also conveyor systems can be expensive to maintain.
Agreed all doable but we both agree getting it right at the start is all important and cutting corners and rushing to produce such an important document is asking for trouble.
Best
Or mabe its simply to lower GP for the US banks to build their reseves, Basel 3 again maybe.
I takes time to sink in Lucky, give it a few more days, unless the FED decided to put the mockers and their curse on GP again. The FED and GOV want to keep a strong dollar,dont know why other than they believe it maintains confidnce in the US $.
Unemployed up PPI down and POG down. Unbelievable
Thanks Dasut
My understanding on Doropo, is that the Metallurgy is fairly stright forward, the drill sampling is good, and the Geologists are happy withthe Geological understanding of the geometry of the mineralisation (I dont think this is rocket science), but it can cause concern for the geostats fraternity, who wallow in numbers, and the higher density the more relaxed they get, but this takes time, and money..so I hope these guys are sidelined a bit.
The area and zones of mineralisation are a logistics issue, but not one that has not been solved numerous times before, but you have ot get it right, best do this upfront! The reverse of this is there is a lot of gold over a large area, and this means there is a very reasonable chance we are dealing with a significantly larger mineral system than is on their books right now.
This is what I would be thinking about.
best
the Gnome
MAY 16th (this Wednesday)
BofA Global Metals,
Mining & Steel Conference
May 23rd (Tuesday week)
AGM
Cowichan I don't think we will hear anything earlier than June as putting together a PFS isn't like writing an individual report this will involve numerous people and entities editing and auditing before the final document which needs to be accurate.
This will be the document that will drive a decision to spend a considerable sum of money or heaven forbid walk away so a few more weeks for accuracy is OK as far as I am concerned.
Doropo is a little complicated not just the metallurgy and processes but also 9 zones over 7 km so where to place the process plant without incurring expensive mining/haulage costs. We know from Sukari that it is crucial that the mine has flexibility.
I think you are 100% right there.
Personally feel strong rise to SP isn't going to happen until Sukari get the waste contract done and dusted and back to a realistic 6:1 or below strip ratio. Coupled with a positive we are going mining at Doropo and the Court Case finds itself in file 13 known as the waste paper bin.
We aren't going to see anything coming out of the other Egyptian zones for a good few years, imo ABC will come or go long before any impact from the new Egyptian zones.
All of this will still need a strong GP as this will always be the major influence on profit.
Let’s explore two gold stocks and see how they are faring on Wednesday.
https://kalkinemedia.com/uk/stocks/gold/paf-cey-2-ftse-gold-stocks-to-keep-a-close-eye-on
Major European stock markets traded mostly higher on premarket of Thursday hours ahead of the key interest rate decision by the Bank of England. Before the opening, Deutsche Telekom AG, ING Groep, and RWE released their latest earnings reports.
The DAX gained 0.09% at 7:12 am CET, while the CAC 40 added 0.12%. At the same time, the FTSE 100 and the pan-European Euro Stoxx 50 were unchanged.
On the currency front, the euro and the British pound were flat against the dollar at 7:15 am CET, selling for $1.09778 and $ 1.26206.
Baha Breaking News (BBN) / JG
One morning early, before you’ve had time to eat your Kellogg’s corn flakes…
The pog won’t matter anymore
Wall Street leaders addressed the debt ceiling issue, urging Washington to resolve the crisis as soon as possible, adding that the consequences of a U.S. default or a prolonged negotiation would be "unquantifiable."
"The short-term impacts of a protracted negotiation are costly; the long-term implications of a default are unthinkable," current and former leaders of the Treasury Borrowing Advisory Committee said in a letter addressed to U.S. Treasury Secretary Janet Yellen. "The magnitude of adverse consequences from a prolonged negotiation, or a default, is unquantifiable."
https://www.kitco.com/news/2023-05-10/Wall-Street-tells-Washington-Consequences-of-U-S-default-or-prolonged-debt-debate-are-unquantifiable.html
Will gold prices go higher, lower or remain unchanged next week? Kitco readers will have until 9 a.m. ET, Friday to cast their vote.
In a new feature to the weekly survey, Kitco News is now asking retail investors their price target for the following week.
The results will be tabulated and released after noon (12 PM ET) along with the results from our market professional survey.
Readers can also send any comments to newsfeedback@kitco.com and they could be featured in the story. For proper attribution, please include your full name, location and indicate whether or not you would like your comments published in the article.
https://www.kitco.com/news/2023-05-10/Where-is-gold-headed-next-week-Vote-now.html
Sound like a kind of wishful think to get back on CEY on the cheep Tornadotony, rather than a proper POG analyses.
Since POG hit 1950 it has been making higher lows
https://tvc-invdn-com.investing.com/data/tvc_1bfd54c7f9aa9831bd1f59f6626779c4.png
Hence it has been forming a rising trendline as support, but before that we have 2008 horizontal short term support.
Noting is impossible but I see plenty of support much before 1950..
Gold :another leg higher?
Interesting for some.
The bottom of the current bull channel is $1960 per ounce for gold. We are well overdo for a retest at that level. Cey would probably be around 102-104p on a channel bottom. The question is whether gold holds or break lower in a new downtrend. Centamin is likely to front run whatever gold ends up doing.
Yes I missed the peak by a penny, but I was out shopping today and spent all the profits.
Paul, one decent result including return to ounces profits and dividends of yore would shoot us up but I can’t see that happening soon, ie till we get on top of costs plus we now have a management that has said it will pay lower dividends even with higher profits so they can sink more in new self agrandising holes in the ground in W Afica etc. So yes one great results would do it, but not coming soon. Have to rely on the gold price