The latest Investing Matters Podcast with Jean Roche, Co-Manager of Schroder UK Mid Cap Investment Trust has just been released. Listen here.
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Spot on Rebess!, the LBMA is as crooked as Boris & his cabinet of stinkers!
20 May 2022 In this week’s Live from the Vault, Andrew Maguire reveals a glaring LBMA price fix is wreaking havoc on the gold market, after a tidal wave of global physical demand.
The precious metals speaks on Russia's action to strengthen the Ruble with physical backing and whether increasing demand will be the hair-trigger for a global gold price reset.
https://www.youtube.com/watch?v=JYd5P6AGmUc
* The opinions expressed in this video of Andrew Maguire and any guest
buying more into the close as traders clear for the week. US tanking again and bond yields taking a hit
Next week , Comex futures settlement week. - So, potentially a good-hiding week for gold as the stop-losses are harvested.
Dont expect too much action today.
Its Friday ,not many trades and the traders out for the weekend.
Next week may be different.
Dandu,
Provided gold holds then I think it will. The problem however with miners is that they are so fundamentally linked to the price of their underlying commodities and in the case of CEY and gold there is also a paper market side which seems to be bare limited correlation to the cost of mining.
Still I am optimistic!
Best wishes,
Prof
Share price currently sitting on multiyear support levels which date back to 2016.
Let's hope it consolidates around these prices before moving up again.
Thank you Cowichan,
These companies can easily afford to put the appropriate measures in place to protect the local en environment and its natural inhabitants.
There are international agencies that would be able to organise and assist if contacted'
Razor,
I agree with you totally ref the criticality of H2 production ramping up to plan in order to get the SP moving north. I would add that CEY also need to keep AISC within the (large) bracket that they outlined even with what are no doubt greater inflationary pressures than originally anticipated.
To date Martin H seems to have delivered what he has promised so I am confident.
Best wishes,
Prof
Equities in Europe traded higher in the premarket on Friday ahead of the newest reports on Germany's producer prices and the United Kingdom's retail sales. Earlier, Finland and Sweden promised to work on the demands Turkey named in order to support the two countries' accession to the North Atlantic Treaty Organization (NATO).
The DAX went up by 0.86% at 7:08 am CET. At the same time, the FTSE 100 advanced by 1.08%. The CAC 40 increased by 0.77%.
The euro stood flat against the dollar at 7:21 am CET to sell for $1.05807. At that moment, the pound sterling lost 0.06% to the greenback to go for $1.24621.
Baha Breaking News (BBN) / JR
*Centamin, ratchet up the production in H2 as promised and the market will reward the share price.
Have a good weekend y’al
UK TIME PROGRAMME
10:20 - 11:30 Panel I: Decarbonization and Green Economy Transition
Egypt embarked on its journey to decarbonise its electricity sector through the introduction of different schemes aimed at incentivising private sector participation in the renewable energy generation business. As a result, Egypt today has around 6 GW of installed renewable energy capacity, of which c. 2 GW has been developed by the private sector, which contributes positively towards the government’s national target of achieving 20% of renewables in 2022 and 42% by 2030
https://beba.org.eg/wp-content/uploads/2022/05/MissionOverviewProgramme-May17-20-2022-Version6.pdf
------------------------>>>
Not sure how Egypt plans to incentivize the private sector i.e. miners like Centamin — does this mean a rebate to Centamin over and above normal deductions of capex for more solar and/or an electric underground fleet? Probably just nice talk as Egypt prepares to host COP27 later this year
Regardless, Centamin is apparently a 'platinum sponsor' of this BEBA event as per co-sponsor HSBC posts on LinkedIn https://www.linkedin.com/in/todd-wilcox-32a1b24/recent-activity/
https://beba.org.eg/egyptian-ministers-meet-with-industry-leaders-in-london-during-beba-mission-as-egypt-prepares-for-cop27/
I'm all for engaging with London's elite do-gooders — but let's not forget about shareholder's outstanding concerns. We are the one's funding this lovely ESG carnival — spare some time to engage with us and explain why you are indifferent to the abysmal share price performance & tell us what's going on around Sukari in terms of drilling results, satellite ore body resources and that 10,000meter step-out drilling program from 2 years ago — now please !
https://www.linkedin.com/posts/don-lawson-98619370_sukari-centamin-sukari-activity-6930974548267859968-MehL?
HA Ha . there are 10 different toxic snakes and 24 very toxic scorpions .
So dont pick many rocks up.
GLA.
One benefit of mining in an Egyptian desert - not too much wildlife to trouble
----------------------------->>>
The Superintendency of the Environment (SMA) has ordered [Gold Fields] to implement a series of “urgent” and “transitory” measures after the miner reported three incidents around the project that included the death of three culpeo foxes, a species found in the Andes.
The SMA boss, Emanuel Ibarra, said its office constantly monitors the environmental impact of the Salares Norte project, located at 4,200m above sea level, in the dry Atacama region.
“Given the environmental risk tied to the [culpeo fox] species, and bearing in mind the high degree of sensitivity of the ecosystem in which the project is located, we are asking the company to fulfill the requested demands as soon as possible”,
This is not the first time Gold Fields has to tip-toe around species native to the project’s area of impact. In 2020, the miner began relocating 25 chinchillas, short-tailed rodents found only in the north of Chile and which are protected by law.
The operation was going according to plan until the SMA halted it, after one chinchilla suffered a broken leg and two others died.
https://www.mining.com/foxes-add-to-gold-fields-headaches-in-chile/
Logic seems to agree !
Years ago an experienced analyst pointed out the Sukari management was mining itself into a corner by not mining enough waste.!
That prediction has come to bear, although the current management is now tackling this! As it took years for the chickens came home to roost, then frustrating as it is for us then logically it may well also take years for corrective measures to bear fruit.!
Whatever our opinions and irrespective of whether it is the old management responsible for the mess they got in, it is current management that has to pick up the pieces!
if the current management will be successful, or how long the turnaround will take is yet to be determined!
Possibly though as Centamin has already taken the bad news on the chin it might well be a lot less risky than many of its peers?
With others (B2Gold, Enedeavour - political risk, Fortuna - capital blow outs, etc.) bad news may still come.
Tibbs
I agree Lodan, gold is continuing an upward trend from the March 21 low and is consolidating nicely from the 2020 high.
Some of us have more than one share!!!
Unless there is something that I'm unaware of, this share should eventually rise.
Looks like the dollar did as I hoped and topped after the marginal break of 1.04 which should see it head into its intermediate decline while also helping confirm that golds intermediate low is in...I heard people saying earlier about a bear market in gold...we have made higher lows (if 1785 was the low) and higher highs in the last cycle from 1670....this certainly doesn't shout bear market to me just the long timeframes of the cycles make it feel that way sometimes
Well who would have thought it...a green close on ex dividend. Well done whoever it was who predicted yesterday...I thought 75 was more likely
N0mates... your on the wrong board you are in ITV and yes you are right it is dropping LOL
Guess you sold this morning at 79p….keep waiting
it will drop tomorrow
Looking good, glad I bought this morning. This stock so predictable lol
Green on XD day, carnt ask for more than that today. Long may upwards last