Cobus Loots, CEO of Pan African Resources, on delivering sector-leading returns for shareholders. Watch the video here.
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Major European indexes were mixed in premarket trading on Monday as investors geared up for a week filled with economic data releases, including manufacturing PMI figures scheduled for release later in the day. Market watchers also digested the news that OPEC+ decided to cut crude production by more than 1 million barrels per day until the end of the year.
The FTSE added 0.17% at 6:49 am CET, the CAC 40 was up 0.15%, while the DAX lost 0.10% and the Euro Stoxx 50 declined 0.12% at the same time.
THe euro fell 0.46% against the dollar to go for 1.07932 at 6:54 am CET and the pound slid 0.40% compared to the US currency to sell for 1.22808 at 6:55 am CET.
Baha Breaking News (BBN) / NP
Happy Monday y’al
Gold getting a bit of a thumping this morning, off by .9%
For gold price we are definitely at a cross road, when it comes to psychology of numbers in trading and price action.
Possible posted before but imo is worth as much as many other fundamentals arguments, including the $ and rate rise (or not). This especially because POO is at such critical price level , been the $1000 and now the $2000 mark.
Below is a self explanatory graph of POG. After having gone trough the $2000 few times and including the fact that this consolidation, has matured in a similar time frame of when it went past $1000, imo is now time for gold price to see $2000 as support and move much higher ....
Note also that this historic price movement ($1000 in 2009) and $2000 this time, are occurring at the begin of dramatic change of monetary policies from the Fed....
Assad of syria and El Sisi today signed accord to re open embassies , closed by Morsi in 2013. UAE , Turkey ,and have done the same,with the
Saudis close to it.
More security for the middle east.
In short ,a changing world.
Yep 100% agree Mr T- new app platforms have made this a new gambling past time...
81% of retail investor accounts lose money when trading CFDs with this provider. You should consider whether you understand how CFDs work and whether you can afford to take the high risk of losing your money. 24 Jan 2023
CFDs, Futures and Foreign Exchange trading is high risk, trading on leverage means that any profits are magnified relative to your margin, this also works the other way and losses can quickly spiral out of control if not correctly mitigated. It is important that clients have a good understanding of leverage and how the margin account works, and have experience of trading the markets.
https://www.contracts-for-difference.com/Margin-trading-risky.html
https://skilling.com/eu/en/blog/trading-articles/the-risks-and-rewards-of-trading-cfd/
https://www.linkedin.com/pulse/cfd-trading-77-people-lose-money-hemant-thapa
About 75% of day traders lose money and about 75% use charts… spot the connection? Lol
On a final note, the quantity of people popping up on all sides of the prediction equation will go up exponentially with the advent of AI- they will be auto-created in an instant with fake backgrounds for people to click on- those that are wrong will auto-delete and those that are right will remain and gain more clicks and vanish when wrong - the repeat and so on…. as always best and only way is work out and adapt you data points and markers and adjust and watch the live data …
The doomsayers NEVER say, “apologies, I got it wrong, again and again again and again and again, so pleased you didn’t follow my advice and go short as you’d have lost a fortune, again and again and again and again and again, but don’t worry or be jealous of those who ignored my advice, your time is coming”- shame, as at some point they will be right, but their followers will have lost all their assets by then and have nothing to invest to take advantage lol. The doomsayers themselves will be fine though, they make loads out of click bait and never actually follow their own advice, but they invest instead lol
I recall only recently when the s&p dropped to almost 3,500 towards end of last the voices were so loud on drop further is obvious lol, when the pound went from ~1.12 to ~1.035 toward end of last year soooo many experts were saying further to go, and were so wrong. And if it crashed from 1.12 to 1.035 where was the press report “pound has rocketed”…. doom also makes better headlines-
And here we go again, lol, more and more doomsayers pop out of the woodwork like Sotolo’s experts the others week on the gold imminent drop- of course, at some point the doomsayers will be right but stay invested in over the past 30years or so and you’ve had smashed all the doomsayers out of the park - they are click bait city lol-
:-) Donald ,of course it is important to understand ,if you can .All sides , and comprehend .
At the end of a friendly meeting in Moscow, President Xi of China told President Putin of Russia that they are driving changes in the world the likes of which have not been seen for a century.
Meanwhile this week President Biden kicked off a Summit for Democracy with $690m funding pledge to democracies all over the world and the European Commission president, Ursula von der Leyen, called on Europe to reassess its diplomatic and economic relations with China before a visit to Beijing next week.
So what changes are President Xi talking about? Who will be running the world in 20 years time? Is conflict between rival powers inevitable? And is the model of western liberal democracy in decline?
https://www.bbc.co.uk/sounds/play/w3ct4q6f
"China's economic might is driving fear in Americans,"
"The bank collapses were bound to happen. I've been saying if the Fed kept up their rate-hike cycle, something would break and it did," says Frank Giustra, CEO of the Fiore Group. "There are more collapses to come. We are seeing the beginnings of a great unraveling," he tells Daniela Cambone at the 2023 Swiss Mining Institute conference.
watch here:
https://youtu.be/JwlcInBrqog
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not my thesis but I do respect Mr Giustra and his investing success - si it's worth a watch as it's always important to understand all sides of a debate
It is possible some retaleation but becoming increasingl ignored and by passed by loopholes.
It is safe to say sanctions do not work,except against themselves and EEU.
Shooting ones self in the foot.
Even Spain and others are increasing the imports of Russian LPG, for a quarter of the price of US.
Thank you for both for sharing your thoughts guys. Very useful ad helpful.
More specifically, I was thinking more in terms of future retaliatory action by the US against the participating countries which might affect operations, refining, ability to sell the gold etc.....similar to the kind of actions taken against Russia.
I you guys and anyone else in this chat can share your thoughts on this and any other risks related to this, they will be most welcomed.
American economist and financial author, Dr Stephen Leeb, to discuss the sacred place of physical gold in the global history of money.
The acclaimed wealth manager shares his research on America’s accelerating financial decline spawned by the end of the Gold Standard, while at the same time, gold remained the best-performing asset class since the system’s eradication.
https://www.youtube.com/watch?v=sR3thpp0BUk
Hi Dasut,
Absolutely agree the stupidity of this move which was recognised at the time and as you say such a mistake and so detrimental to the operation of the mine, which likely wouldn't have been allowed to descend to be be near on unworkable!
It was case if excluding the experienced to bring in the clowns !
I do not post often these days.
But BRICS is going to be a large player in the future.
The middle east oil cartel ,OPEC states, will eventually all join.
Of course the westerners not.
Egypt will choose what they perceive good for themselves.
I see no problem for Centamin.
It is solely a trading alliance, and alternative ,which cannot be ignored .
Tibbs yes total nonsense and Trevor got stuck in the middle, I thought at the time what a total waste of his experience getting him involved with HR and remuneration. He was/is one of the most respected people in the mining industry and guarantee when he was onboard he would have been a major asset to the company. Unfortunately in time retirement comes to us all.
Centaminstar123
Here's an interesting chart outlining the risk of a 'new reserve currency' rising from among a BRICS coalition
https://twitter.com/BobEUnlimited/status/1641399112183455745
As you can see the % of world currency $ composition is highly stable/polarized :
US 60%
Euro 20%
Yen 5%
UK Sterling 5%
Chinese 3%
Canadian 3%
Aussie 2%
Others 2%
Every country is indebted thru the roof - so at the end of the day it's other factors that determine flight to safety of assets ( i.e. military, technology, political stability )
the BRICS are the last place anybody would look to as a safe haven for assets and it's not changing anytime soon
March 30, 2023
Transitional authorities in Mali will review mining contracts after an official audit of the sector advised that the state was not receiving a fair share of gold-mining revenue, the council of ministers said on Wednesday.
Mali is one of Africa’s largest producers of gold, which is its top export. Companies operating in the country include Barrick Gold Corp and Resolute Mining.
The council said an action plan would be implemented and would include creation of a commission to renegotiate mining deals, a move to repatriate cash earned from gold exports and the adoption of a mining sector environmental code.
https://www.mining.com/web/mali-to-review-and-renegotiate-mining-contracts/
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Investing in Africa is making less and less cents...
https://tvbrics.com/en/news/egypt-is-looking-to-join-brics/
I am a significant long term investor in Centamin and am a bit concerned about both medium longer term potential impact on Centamin both on their application to join BRICS and the new reserve currency they have in mind.
I am always impressed by the varied and knowledgeable views shared on this forum, even when the parties do not see eye to eye and would very much welcome your views on my question to everyone.
Does anyone else share this concern and what are your thoughts that you are happy to share with us?
Thank you
Paolo
In the title...
Took it's time here last few days, but traction hopefully :-).
Stock exchanges in Europe were mostly green in the premarket hours on Friday with data-heavy day marking the final trading session in March.
Before the opening bell, reports on the UK's gross domestic product (GDP) and house prices will be released. Investors will also be keeping an eye on Germany's retail sales and unemployment rate, as well as statistics on the consumer price index and unemployment across the Eurozone.
The FTSE 100 was flat, while the DAX added 0.17% at 7:41 am CET. The CAC 40 rose 0.19%, while the Stoxx 50 gained 0.07%. The euro was flat against the greenback, changhing hands to $1.08999 at 7:50 am CET.
Baha Breaking News (BBN) / AB
Happy Friday y’al
Enjoy your weekend!