Firering Strategic Minerals: From explorer to producer. Watch the video here.
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Most upbeat qtr. for a long time. - Of course if your intention is to raise funds in the coming months then it needed to be. Remember the days when you went to see your bank-manager for a loan. Usually, being smart and presentable was a prerequisite. - So it was nice to see Centamin turn-up yesterday dressed to the nines, lipstick, the lot. - It's made me wonder. - In any event, it was better than the now customary good-hiding. :)
Yeah what a plonker- good to see the market no longer reacts - wish cey would perform like crypto- golds a flipping nightmare
I’m guessing based on the fall of the spot gold price again this morning?
But yes, bad results and a falling gold price would have been painful.
Normal service resumes for cey looking like it's going back to the usual lows just imagine where we'd be if the results had been below par.
Its the" American Way.
If you have the power use it,while you can.
Says it all really lol
Wise words Steve… or stay the same, and of course you are right who has a clue….
Equities in Europe traded mostly lower in the premarket on Thursday ahead of the latest interest rate decision that will be announced by the European Central Bank (ECB) during the day.
The DAX went down by 0.16% at 7:19 am CET. At the same time, the FTSE 100 stood flat, while the CAC 40 decreased by 0.30%.
The euro gained 0.39% to the dollar at 7:31 am CET to sell for $1.02172. At that moment, the pound sterling increased by 0.14% against the greenback to go for $1.19925.
Baha Breaking News (BBN) / MM
A good thing about yesterday is at least we know Centamin are sound.
And a good thing about that is, so does everyone else.
Clarity prompting investment.
Hey Sotolo, my statement was tongue in cheek- when gold can only go up or down, 50% chance of being right...
As inflation grows around the world the US dollar enjoying multi-decade highs. To an extent, that’s helping mitigate the impact of inflation in the US by dampening the rising cost of imports. Most other places, though, are seeing the opposite happen. The rising dollar devalues local currencies making imports, including energy, more expensive, adding to inflation. This week Phil Dobbie talks to Prof Steve Keen about the impacts of exchange rates on international trade and how nations could be starting to challenge the US dominance in currency markets. As Pola, a Debunking Economics Podcast listener asks, what happens as BRICs nations (Brazil, Russia, India, China) move to payments in their own currencies instead of using the US dollar? Beyond that, what if they develop their own trading currency, similar to the Bancor proposed by Keynes back in the 1940s.
https://www.podbean.com/site/EpisodeDownload/PB127B52AM4AGN
Thanks Tornadotony,
I think the thing that is overvalued now is the USD, and history says you can bank on this devaluing over the coming years. For start it is not in the US interest for this to happen/stay this way. Another fall out of the irrational behaviour of its Reserve Bank (and of course the other reserve banks mostly just follow). The performance of Australias Reserve Bank has been so bad it is now under Independent review, which should have happened a decad e or 2 again. https://www.afr.com/policy/economy/independent-review-for-rba-as-chalmers-overrules-lowe-20220617-p5aum1
Full of political appointees, economists etc...
Goldman Sachs has now hired our ex Financie Minister, who has just retired on full parliamentary pension? Snouts in the trough, conflict of interest etc etc.
amazing goings on, and its all above board, LOL
the gnome
NOmad
If you think drilling 100,000 meters, getting assays back after qa/qc (think 3-4 months), compiling, intergarting with geology, converting to a indicated resource and THEN feeding this forward into a FS is over quickly, think again.
Regardess, the timelines communicated are very clear, and reasonable cosnidering the variables in play.
•"West Africa. Work is continuing towards the delivery of the Doropo pre-feasibility study ("PFS") by the end of the
year. The field programme has seen the completion of more than 100,000 metres of drilling which is expected to
convert the majority of the Inferred Resource to the Indicated Resource category and support the completion of
the PFS by the end of Q4 2022."
the gnome
The Doropo PFS was due in mid 2022, now there is talk of it coming out by the end of the year. Why the delay? No reasons given, Martin just glosses over it like there is no change there!!
Another method is to look at USA money supply at M1 and M3. A further method is the ratio of USA 30 year treasuries over 10 year levels. The treasury rates ratio suggests gold is approaching a bottom like in 2018. The USA money supply data is two months old. It was suggesting gold at $2020 per ounce was fair value,but we do not know how fast the FED is moving money out of economy through the higher interest rates which encourage debt getting paid off and what is being done on QT. Perhaps we need to use all these kind of methods to get an understanding where gold real value should be.
If you convert major assets into gold ounces such as property. Gold is certainly not expensive. If we take past peaks in gold like 2011 a similar valued property at that time would cost say 340-380 ounces of gold. Today its 570-580 ounces by my estimates and when gold was really cheap like December 2015 that asset would be 720 ounces or nearly double at the peak of being over valued. At $ 1820-1840 gold prices were on the median. They are now 7% below that mean which gives a $1694 gold price or 580 ounces for say a nice property asset. Gold can go lower in value, but then everything else is more over priced. Gold has to correct at some point back to its mean. So either everything else collapses in price to where gold is now or it retains its value and gold has to go back up. In the 1970's gold became hugely over valued and it took two decades to get to the metrics I have described. The time to be buying gold is when its valuation falls below the mean of major assets that are around you. In my opinion we are now 7% below the mean and the question is how far does the market take it. $1380 gold per ounce is the nadir price of December 2015, however an elevated USD currency over today, raises that price higher so any asset that you measure has to be converted into USD.
No one has a clue unless you name a time period. 1 hour, 1 day, 1 week, 1 month, 1 year
The answer depends on the time period.
Nor a bad quarter for CEY. Solid. Mving towards being predictable.
A lot of other businesses are not even close. BlackRock is breaking the wrong records with $US1.7 trillion loss
BlackRock is used to breaking records. The world’s largest asset manager was the first firm to break through $US10 trillion of assets under management. But the bigger they are, the harder they fall. And this year BlackRock chalked up another record: the largest amount of money lost by a single firm over a six-month period. In the first half of this year, it lost $US1.7 trillion of clients’ money.
Well, well, the money gurus had a bad 6 months at the office.
The top major Super fund in Oz about 4 % net of fees and other small costs, over last 12 months
good luck to all, and go gold, and CEY
Steve I think quite a lot of people have had a clue where gold would go over the last year, down, and think further down. The trend is your friend or for us enemy.
No one has a clue where gold will go- balance is key
Looking like gold will be punished until at least tomorrow week ffs
to answer my own question diesel consumption for electrical generation was reported as 90-100m litres a year in 2020.
Cey is currently paying the Egyptian government 80c/litre for diesel so around US$80m a year on electrical generation alone. Solar ought to reduce that by around US$16m but connection to the grid would remove the remaining $64m dollar cost - although this would be replaced by a cost of buying 120MW of juice every year from the grid. There's also the fixed cost of building the power line out to the mine.
From Proactive this morning.
https://youtu.be/PjwAujgTDUM
Thanks 3bear :-)
Hi Paul - the mine is fully off grid and all of its energy is provided by burning 200 million litres of diesel a year - to power the trucks and plant but also to generate electricity. This is inefficient, polluting, expensive and about as bad as it gets from a carbon emissions pov. The only way to be less green I can think of would be to build a coal-fired power station on site. Solar will save 20million litres of diesel per annum, which is great but still leaves a 180m litre fuel bill. Grid connection would eradicate diesel generation of electricity - cheaper, more efficient and significantly greener. No-one asked how much fuel it would save - I'd like to know the answer to that.
Next stop, detailed half-year financials and declaration of the interim dividend on 4 August 2022.