Rainbow Rare Earths Phalaborwa project shaping up to be one of the lowest cost producers globally. Watch the video here.
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...is paranoid, goes the lyric.
The GP is stuck in the 1600s yet the SP is back is in the 90s.
Let us hope this really is a corner turned.
Major European stock markets traded mostly higher Wednesday amid the publication of new earnings reports from major European companies and banks.
Earlier in the morning, Deutsche Bank said that its net revenues for Q3 were at €6.9B, the highest result for that quarter since 2016. Meanwhile, Mercedes-Benz Group announced revenues of €37.7 billion, and UniCredit revealed that its net revenue, excluding Russia, was 6.8%, up to €4.2 billion in the third quarter.
The DAX gained 0.27% at 8:01 am CET, while the CAC 40 added 0.40%, and the FTSE 100 declined 0.35%.
The euro was flat at 8:00 am CET, selling for $0.99634. In comparison, the pound lost 0.10% to go for $1.14602 at the same time.
Baha Breaking News (BBN) / JG
Happy hump y’al
A rash of positive earnings from EU banks
this morning snatching early attention.
Gold plus •34 %
and premium collars of 75k ounces per quarter until December 2023. Wow, I didn't realize any major still considered forward gold sale contracts, etc. a smart move.
---->>>>
As announcement on 24 January 2022, Endeavour entered into a revenue protection programme for a portion of its production across FY-2022 and FY-2023, to provide greater cash flow visibility during its investment phase. This was structured as an upfront low premium collar with a put price of $1,750 per ounce and a call price of $2,100 per ounce for 75koz of production per quarter, from Q1-2022 until Q4-2023. In Q1-2022, the realised gold price was was within the gold price range of the collar. In addition, the Company entered into a forward sales contract for approximately 520koz of production in FY-2022 and 120koz of production in FY-2023 at an average gold price of $1,831 per ounce and $1,828 per ounce respectively
<<------
although, they will look smart if gold does a nosedive
----->>
The loss on financial instruments was $178.8 million in Q1-2022 — mainly due to an unrealised loss on gold forward sales of $79.2 million and an unrealised loss on gold collars of $43.8 million, both of which are detailed below. In addition, the loss included a foreign exchange loss of $19.5 million, an unrealised loss on the revaluation of the conversion option on convertible notes of $18.0 million, a realised loss on gold forward sales of $7.0 million, a loss on change in fair value of the call rights of $4.4 million, a loss on change in the fair value of the early redemption feature of senior notes of $4.0 million, a loss on change in fair value of warrant liabilities of $3.3 million and a loss on other financial instruments of $0.2 million.
https://www.londonstockexchange.com/news-article/EDV/endeavour-reports-strong-q1-2022-results/15438317
------------------------------>>>
Come to think of it these so called 'revenue protection programs' were probably imposed on Endeavour Mining by the banks with whom they've got a revolving line of credit. $500 million or something like that -
It's likely Centamin may be forced to enter into such a 'revenue protection scheme' as well, depending of course on how much funding they secure for and when it's needed - I hope prudence prevails and details emerge with the delayed Capital Review.
Such contracts would create a whole new dimension for shareholders to consider
The final decison will be made on drilling ,not airborne.
Drilling of which much has been done ,give definate results not general area surveys from above.
AIRBORNE GEOPHYSICAL SURVEY
An airborne geophysical survey, covering the entire 160km2 Sukari mining concession area, was completed during Q2 2022. The heliborne survey, which marks a first for Sukari and more broadly the mining sector in Egypt, combined VTEM, Magnetic and Radiometric techniques, flown at 100m line spacing across the concession area.
The programme was designed to further the understanding of the geological and structural setting of the Sukari mineralised system itself as well as the numerous gold prospects across the concession area.
The geophysical data is currently being processed with expected delivery of an initial set of VTEM, Magnetic and Radiometric imagery during July when further processing and interpretation of the overall data set will be undertaken before the planning of the next phase of work based on the outcomes of the survey.
Mr Horgan added: "...across the broader concession we identified shallow satellite surface targets, potentially adding growth and operational flexibility to our mine plan, and completed the first airborne geophysical survey in Egypt – a milestone for Centamin and Egypt’s hard rock sector."
https://www.centamin.com/media/2836/cey-rns_-2q22-exploration-update_final.pdf
---------------------------------------->>>>
It will be nice to see these images (and better yet the exploration results)
Thanks Cowichan
There is a big difference between aeromegnetic and electromagnetic surveys.
Magnetic measures magnetic properties.
Eletromagnetic measures conductivity properties.
Not the same.
However in an electromagnetic survey you do measure magnetic properties as well
thanks
the gnome
Gnome,
True, Centamin recently completed its own geomagnetic survey over the Sukari tenement BUT the very 1st geomagnetic airborne survey over the entire Eastern desert of Egypt was actually done in 1983 - 1986 by an American company (it took three years to complete.) The data was recently converted into a computer usable format and reinterpreted using the following software/techniques:
1) Regional–Residual Separation
The spectral analysis technique is used to isolate the regional and residual components
from the RTP map (Radial Average Power Spectrum Technique).
2) First Vertical Derivative (FVD) Method
The FVD map is critical for detecting near-surface magnetic characteristics associated
with geological formations; it resembles the upward continuation map and is used to
enhance local anomalies, while attenuating regional anomalies because it is sensitive to
shallow magnetic sources.
3) Total Horizontal Gradient (THG) Method
The THG method is extremely good at detecting structures such as faults from the
borders of anomalies [23], and it is generally insensitive to data noise and interference
effects between close sources. This method is widely used in mineral exploration; however, it is lease susceptible to data noise because it only considers the two first-order horizontal derivatives of the magnetic field.
4) Tilted Derivative (TDR) Method
The TDR is employed in this search for mineral exploration targets and mapping
shallow basement structures using Oasis Montag (8.4); however, it is not usable in deep
sources, since the observed edges have vanished.
5) Analytical Signal (AS) Technique
One of the most essential features of the AS technique for deriving magnetic parameters from the aeromagnetic data is that it is independent of rock magnetization. The AS
amplitude can be used to map the borders of rock units and delineate underlying structural
features.
6) CET Porphyry Analysis
This technique is used in our research to explore porphyry mineral deposits across the
area using the RTP grid, and it involves several processing stages, including the Circular
Feature Transform plugin, the Central Peak Detection plugin, the Amplitude Contrast
Transform plugin, and the Boundary Tracing plugin
A summary of the study states: We have analyzed the aeromagnetic data to delineate the
alteration zones, geological structures, geological boundaries, and depth to the rock of
conceivable basement mineralization zones that are linked to hydrothermally altered zones.
The study area has been subjected to previous geophysical studies, including paleomagnetic studies on some chromite ores [9] and others using aeromagnetic data to create the
curie point depth map by means of the spectral analysis technique [10], but it is the first
time that the aeromagnetic data has been analysed using the new Centre for Exploration
Targeting (CET) grid analysis technique to map out geological structures and highlight
the best pl
Not all of us have to vote Gnome. I lived on Cocos (Keeling) Islands for a period of time nearly 30 years ago which resulted in my falling off the electoral roll.
I have managed to avoid reinstatement so far and greatly enjoy mocking my family & friends turning out to vote for one pointless cretin or another while I pour myself a drink & put my feet up :)
The degree would not be in political"science" - whatever that is. Political governance, required course, as would be common sense, commerce, law, ethics, how real economies work or fail etc.
CEY seem to do an excellent job in training their empoyees. It is in everyones best interest. For instance Universities in Egypt have alomost no practical geology taught in their degree courses. It is all theory. Some of the graduates dont even know how to use a compass.
Egypt is not alone and the old "education system" in many African countries produce graduates who lack practical knowldge (I have said this before) but in Africa it is worse than those int he developed countries. It creates enormous problems. Thye need to introduce Training Instiutes which train them how to use the knowlege they acquire in a practcal way.
CEY is acting as this training Instiute, and this needs to be recognised by the Egyptian Government. I think it is a government repsonsibility, but then thats a problem as Egypt has never had a mining Industry, and thus is devoid of Gexperienced practical Geologists to teach at such an Instiute. I have heard that there might be a new Training Instiute/Education College being formed...no details, but much needed.
So it goes nito the Govt Mining Administration, which is packed with people who have no Mning or Geological experience...and so on..and you know what flows from this ...impractical laws, the highest ground holding costs in the world and so on. This then discriminates gainst having vibrant Junior Companies...
regards
the Gnome
Bob
We have to vote, even if there is no party worthy of getting a vote. So yes, we can also vote informal, but we have to vote.
regards
the gnome
Cowichan
CEY completed an airborne TEM survey (VTEM), the first in Egypt
regards
the gnome
Major stock indexes in Europe traded mostly higher on Tuesday ahead of the ceremony where Rishi Sunak, former British Chancellor of the Exchequer, will officially be sworn in as the United Kingdom’s new prime minister. Sunak was elected for the position earlier on Monday, as Penny Mordaunt withdrew from the race.
On the earnings front, HSBC saw a 3% decline in its revenue, while UBS' net profit tumbled 30% in the third quarter of the fiscal year. SAP and Novartis are expected to post their quarterly reports soon as well.
The DAX was flat at 7:00 am CET, while the CAC 40 added 0.36% simultaneously. The FTSE 100 gained 0.11% at the same time.
The euro was up 0.07% against the dollar at 7:02 am CET, selling for 0.98797. The pound rose 0.21% versus the greenback and went for 1.13031 at the same time.
Baha Breaking News (BBN) / AY
The new folloers have the same optimim we had in 2011 , and it reached 2 maybe te same is
is happening but is was a long wai to double your money with many caught on the swift way down. watch your bvucks this is a cash cow if you are on the board
Apparently Centamin did not complete the first aeromagnetic survey in Egypt's Eastern Desert. The first took place in 1983 by the Aero Service Division at the Western Geophysical Company of America for the Egyptian Geophysical Survey.
And a brand new interpretation of these old surveys are hot off the press:
Received: 9 August 2022 Accepted: 7 September 2022 Published: 9 September 2022
And the map data can be viewed here:
https://www.mdpi.com/2076-3417/12/18/9078/pdf
Some excerpts:
'As can be seen, the study region contains many locations for porphyry mineral deposits, which are almost concentrated in the Barramiya gold mine area in the western part of the region, as well as large deposits delineated on the Barramiya Umm-Salatit belt in the northeast of the study region and extending in the NE–SW direction. However, the western part of the study area, which is represented by Abu Marwa and Abu Mireiwah, covers a large amount of porphyry deposits.'
'Our results for these two alteration zones are consistent with findings (on the ground gold sample collection fieldwork studies) by [28] (see footnotes in study.) They integrated fieldwork and satellite datasets with geochemical and mineralogical data to investigate new* gold discoveries in two alteration zones in the northeast (zone 1) and southeast (zone 2) in the ultramafic–mafic successions of the Barramiya gold mine'
------------------------------------->>>>
The Bottom Line: These new* gold discoveries discussed above are part of Centamin's newly awarded 'Nugrus' block concession ( Barramiya is about 100km west of Sukari) So this is very good news - and likely means Centamin won't need to do its own airborne survey (right away at least) to pinpoint prospective Sukari-sized porphyry drill targets. Booyah!
Touch screen problems
disparaging view of the Aus voting population . Am I correct that it is a legal obligation for all registered voters in Aus have to cast a vote in an Election.?
You have very correct views of the standard of those elected but do you really believe the younger would be politicians will be better. No real world experience experience and straight from UNI with degree in political science .
However as this is a Centamin board am I correct that :
They have an education facility for dependants of workers, a fair wage policy well above the Egyptian norm, a medical programme, that they have a programme to educate and bring through talented Egyptian management , a safety record to be admired throughout the mining industry. Perhaps Siko (much missed from this board ) has a better insight into Centamin policy on these matters.
Lastly as you have little faith in the present system of National Governance what do you propose to put in its place?
Such a pity you are in Aus as sharing a beer with you would be a delight.
Kindest regrds
Bob
Hi Gnome , Thanks for your succinct and concise reply.. Am I correct that Aus requires all at voting age to vote in an Election. Percentage voting in the 90's %
a little disparaging of you to have
Phew
Rishi just got the job.
Rishi spin would be more apt
Interesting there is no Rishi bounce forecast.
Major European stock equities were above the flatline in the premarket session on Monday ahead of the release of economic data across the bloc and the United Kingdom.
Last week's survey on economic sentiment showed that both the Eurozone and the EU experienced a modest improvement in October.
Frankfurt's DAX increased by 0.65% at 7:16 am CET, while the CAC 40 gained 0.50%. At the same time, FTSE 100 was up 0.06%, recording modest gains ahead of the opening session.
The euro fell by 0.20% against the dollar, to change hands to $0.98438 at 7:20 am CET. Meanwhile, the pound sterling rose by 0.37% versus the American currency, selling at $1.13460.
Baha Breaking News (BBN) / AB
Happy Monday y’al…
Could Q4 be bid season
for the newly revitalised Centamin?
Thanks Bob
Yes, we have the vote to kick out one group of nutters and vote another group of nutters in, thats our lot these days in the democratic world. We have to be far better at attracting a better class of people to do the job, obviously.
Well the quick anwer to your question, is I dont favour or see as even slightly attractive any of the governments you mention. What about Egypt?
Regardless of this, I also do not see much attractive about the UK system which delivers up an array of buffoons of various flavours and ideologies, and I wont speak about the US.
I would far rather a proper system be put in place to have potential politicans go through a rigorous x-year education and training programs which teach them how the world works, how businesses actually work, and give them a decent understanding of ethics and morals (etc) Now wouldn't that be fun.
It is extraordinary how politicians (esp in the southern penal colony) can be elected, who have no significant education, no life skills, few morals, basically unemployable, serve with distinct incompetence, some even have relationships with Bikies whilst serving on the parliamentary law enforcement committee that was gathering material about outlaw motorcycle gangs in an inquiry into online drug trading?! and then retire on a handsome pension, free air travel etc. whilst consulting and being paid a fortune to lobby on behalf of any foreign powers and cronies wandering the streets. LOL
As commented previously the lunatics are playing a brilliant game, and if we dont watch out we will be wiped out.
Thank goodness for the younger generation, who will put all this right, and wonder constantly about what the older people (who will be locked up in Aged Care homes) were ever thinking about? Or even if they were thinking at all.
Back to my medicine, I might have taken an overdose with my porridge, in between rain showers down under.
cheers
the Gnome
Hi Gnome,
As in Aus the people have the vote to kick out whichever Gov't is in power for the prosctribed period or before if sufficiently alienated. Try that in Russia , North Korea , Iran Venezuela and your dead or worse as is your family. With all its failings the present system (warts and all) suits me and the majority of the democratic world just fine. Happy to here and consider your defense and views on those Governments listed above
Regards Bob
.