The latest Investing Matters Podcast with Jean Roche, Co-Manager of Schroder UK Mid Cap Investment Trust has just been released. Listen here.
London South East prides itself on its community spirit, and in order to keep the chat section problem free, we ask all members to follow these simple rules. In these rules, we refer to ourselves as "we", "us", "our". The user of the website is referred to as "you" and "your".
By posting on our share chat boards you are agreeing to the following:
The IP address of all posts is recorded to aid in enforcing these conditions. As a user you agree to any information you have entered being stored in a database. You agree that we have the right to remove, edit, move or close any topic or board at any time should we see fit. You agree that we have the right to remove any post without notice. You agree that we have the right to suspend your account without notice.
Please note some users may not behave properly and may post content that is misleading, untrue or offensive.
It is not possible for us to fully monitor all content all of the time but where we have actually received notice of any content that is potentially misleading, untrue, offensive, unlawful, infringes third party rights or is potentially in breach of these terms and conditions, then we will review such content, decide whether to remove it from this website and act accordingly.
Premium Members are members that have a premium subscription with London South East. You can subscribe here.
London South East does not endorse such members, and posts should not be construed as advice and represent the opinions of the authors, not those of London South East Ltd, or its affiliates.
Thanks- what is the likely impact on the SP on this outcome, and rationale?
Thank you Cowichan for your relentless effort to protect and improve Centamin’s clarity, focus and share price.
Totally indebted to you. Cheers.
Shares in Europe traded mostly higher in the premarket on Friday after Germany reported yet another highest level in its incidence rate, the number of people per 100,000 inhabitants infected with COVID-19. Meanwhile, Deutsche Telekom AG unveiled an annual rise in its third-quarter revenue by 2.1%. AstraZeneca PLC will reveal the same update later in the day.
The FTSE 100 stood flat at 7:01 am CET. At the same time, the DAX gained 0.13%. In the meantime, the CAC 40 went up by 0.06%.
Both the euro and the pound sterling stood flat against the dollar at 7:17 am CET, selling for $1.14409 and $1.33662, respectively.
Breaking the News / JR
Someone posted on Monday “This will be a £1 by Friday.”
How right he was… and the rest.
Happy weekend y’al.
MINISTERS COUNCIL MINUTES FOR WEDNESDAY, NOVEMBER 3, 2021
C. MINISTRY OF ENERGY, MINES AND QUARRIES
The Council adopted two (02) decrees. ** / ++
The first decree appoints Mrs. Aminata OUEDRAOGO / SEMDE, Mle 54 661 J, Inspector of the Treasury, Administrator representing the State, under the Ministry of Economy, Finance and Development to the Board of Directors of the mining company KONKERA SA (note: this is Centamin's local company name**), for a first term of three (03) years.
The second decree appoints Mr. Salif OUEDRAOGO, Mle 56,702 G, Administrator of financial services, Administrator representing the State, under the Ministry of Economy, Finance and Development to the Board of Directors of the mining company RIVERSTONE KARMA SA (note: this is Endeavour Mining's local company name++) for a first term of three (03) years.
https://www.gouvernement.gov.bf/informations/actualites/details?tx_news_pi1%5Baction%5D=detail&tx_news_pi1%5Bcontroller%5D=News&tx_news_pi1%5Bnews%5D=664&cHash=eac01bf272c89e3dfe83b96c06a83f21
------------------>>
My Thoughts:
Remember - The above decree is only a week old...
So to summarize for those who are unfamiliar - Konkera is the Batie West project in Burkina Faso that Centamin decided they weren't going to develop alone - due to lower than required rate of return. Thus they were going to find another company to develop it or divest it - although the time they have left to do so is fast running out.
The fact that the Ministry of Mines has just appointed a representative to Konkera's Board of Director's (to represent the state's 10% free carry interest) is significant - meaning talks must have concluded successfully regarding the 1) disposal or 2) joint development of the Batie West/Konkera deposit.
However, the significance of the second decree issued on the same day/same meeting may indicate some type of deal has been struck between Centamin and Endeavour regarding Batie West. I don't know HOW I feel about that possibility yet.
Regardless, I've posted a picture of the mining decree & map showing the current state of Konkera's mining permit here:
https://twitter.com/DonLawson_/status/1458953135217545224
Other thoughts welcome!
As per an agreement signed in July 2019 between Nubian Mining Co and Shalateen - Nubian Mining Co shall:
- DIRECTLY EXPLOIT AN AREA OF 15 KM2 (EXPLOITATION GRANT - DUNEIBET EL QULEIB BLOCK) “PRIORITY”, AND
- PROCESS AND EXTRACT GOLD FROM ORE.UNDER THE SUPERVISION OF SMRC.
(Sorry for the all caps - just copy/paste from web pages!)
Various consulting/exploration work is currently being done by SRK - see pictures here:
https://www.linkedin.com/posts/ahmed-atito_after-an-exciting-career-as-an-exploration-activity-6864525244611227649-7Y6w
Just how this skirts or embraces the new royalty and rent scheme I don't know but it would seem plausible a similar arrangement could be signed between Centamin and Shalateen for the areas below and above Sukari which were just 'given' to Shalateen.
Nubian Mining Website https://nubianmining.com/
The US premarket 13:30 data points and 19:00 FeD announcements are the key points in the US that dictate the movements- some of which also latterly sometimes have an impact at US market opening times
Edit, sentement has changed.
Just realised that the man currently bankrolling Aston Villa, who have just signed Steve Gerrard as manager, is (according to Wikipedia )the richest Arab and second richest African, being worth $8.7b and is called Nassef Sawiris and is the brother of our mate Naguib.
I agree Herbie, probaly on time at US opening ,or maybe overnight.
It will be an interesting test.
Unless their sentiment ,but thats unlikely,.
Plenty of paper left dump on mugs.
Its always all about pog. US shorters could put the boot in anytime. Lets enjoy it while it lasts...
Another strong day and pog currently making new days high.
Keep going Cey, still cheap.
I agree gjsrg........that's why i bought in!
1. 15 is very cheap it really worth more than £2.50 when price up from .90 p to 1.15 p we all think good price. CEY IS zero debt gold mine company profit-making, dividend-paying. Market cap less than 1.2 B extremely cheap.
best of luck
Someone at Blackrock’s in for a *******ing…
It needs to fly a bit more i need £1.15 to break even!
Of interest to some of us.
Naguib Sawiris.
Egypts Sawawiris looks to battery metals ,awaits nod on gold concessions.
It seems to me that in selling Golden Star Reseves for 291 Million, he see's better prospects in Egypt.
That takes a lot of cash.
He streches his tentacles even further.
Hope he dosn't come acropper,;-).
But if he caught a cold ,new investors whold likely pay.
My CEY is now ahead of my POLY today :-)
Looks like the start of a rotation into base- and precious metals miners, at least in the Canadian markets. EVERYTHING gold/copper is flying.
Prepare to grow gold horns then as I see a move to $1900 before Christmas.
This is what I call moving... all on the back of the gold price. I'll start to grow horns if gold breaks $1,900.
Seeking Alpha 11th Nov 2021
Inflation is looking a lot less "transitory" after CPI figures released yesterday, which showed consumer prices jumping 6.2% from a year ago and the fifth straight month higher than 5%. It's also the fastest rate since 1990, and while that might cause some worry in the general population, Wall Street appears to be discounting the effects. Many continue to argue that the Fed won't get too aggressive, inflation could moderate next year, while some think stocks could even benefit along with a rise in asset prices.
Snapshot: Businesses are passing on higher costs to consumers, with 60% of small business owners raising prices in the previous 90 days, according to a November survey of 560 firms by Vistage Worldwide. Companies are struggling to get materials and are delaying orders, adding to demand pressures, while a labor shortage is putting upward pressure on wages. Some feel that will need to prompt a shift in U.S. economic strategy, which sought to jolt pandemic demand through unprecedented fiscal stimulus, though others say supply logjams are at the heart of the issue and targeted spending could help ease those problems more broadly.
"Inflation hurts Americans pocketbooks, and reversing this trend is a top priority for me. With the [infrastructure] bill we passed last week, and the steps we're taking to reduce bottlenecks at home and abroad, we're set to make significant progress," President Biden said in a statement. "Very soon we're gonna see the supply chain start catching up with demand, so not only will we see more record-breaking job growth, we'll see lower prices, faster deliveries as well. This work is going to be critical as we implement the infrastructure bill and as we continue to build the economy from the bottom up and the middle out by passing the Build Back Better plan."
Outlook: The hot inflation figures continue to worry West Virginia Sen. Joe Manchin, who has been warning of fiscal spending and serious price pressures since the summer. That could further endanger the economic agenda of the White House, which has not yet given into business demands to ease tariffs on Chinese imports and failed to persuade OPEC+ to increase oil production. "From the grocery store to the gas pump, Americans know the inflation tax is real and DC can no longer ignore the economic pain Americans feel every day," tweeted Manchin, who must vote for the coming $1.75T social spending package if it has any chance of passing the Senate.
No economic data points today from US
@Steve: "Gold now very close to yesterday's peak surge point..."
I'm nervously optimistic. Feel much happier if/when we break $1,900. I guess the miners are moving up on the *expectation* of the future price of gold.
I having a great race between my CEY and POLY lol
Hi Auson,
Last I heard from a good source is that things are going extremely well and to plan, that's why I am looking forward to Martin Hogan's update in Dec.