Rainbow Rare Earths Phalaborwa project shaping up to be one of the lowest cost producers globally. Watch the video here.
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Major European indexes increased in premarket trading on Tuesday as stocks looked to recover from the recent selloff caused by recession worries. Amid the plunge of the pound, the Bank of England announced it will "not hesitate" to change interest rates "as necessary" but did not take any immediate action.
The FTSE 100 rose 0.13% at 7:20 am CET, the DAX climbed 0.46% and the CAC 40 was up 0.40% at the same time.
The pound gained 0.76% against the dollar to recover some losses and go for 1.07700 at 7:22 am CET and the euro added 0.96402 compared to the US currency to sell for 0.96391 at the same time.
Baha Breaking News (BBN) / NP
I see Sotolo has been cheering people up on the HOC Boardroom.
Dont think he is very popular.
Miz being honest and saying it as it is can of course be unpopular as investors of course want to hear that their shares will rise; unfortunately due to the inept actions, or lack thereof, from central bankers share prices are likely to fall further. Hochschild unlike Centamin is already making losses, and worse has 9 figure debts rather than 9 figures of money in the bank. Don’t shoot the messenger
Sotolo its no different than kicking a dog that is either dead or dying.
Most know it is very wrong.
It is the investors choice which deserves some respect, you also have made mistakes in life I am sure.
Think about it.
Mia, I totally have made big mistakes in life, including perhaps the biggest sadly investing large amounts in Cey and Hoc, and blindly holding on despite my warnings, so far….maybe they will come good one day,tho I have my doubts about Hoc
Sotolo, (all other readers out there),
The number one important issue in your life is your health. If everything is working fine and you can still laugh at yourself and remain resilient, your still in business. The second is your family is in good health and if you have a mortgage free house as well it qualifies you as still be wealthy as an awful lot of people do not have that position.
I recall when I was new to investing and thought it was clever putting a huge amount of money into National Grid shares. Six weeks later after they denied they were going to do a rights issue but they did one in May 2010 to please the regulator. NG shares collapsed by 40% on a single RNS. I held firm and did all the right things to please the wife (which is extremely important in such circumstances). A year later the National Grid shares recovered, and I sold out with a £20,000 gain. If I had held them and did nothing, I would have made far more money, but the lesson encouraged me never again to have all the eggs in one basket.
I thought Chan's observation on the gold market was interesting at Gold Eagle last Saturday. It matches up with a major event happening in October. I have a feeling China is starting to sell all those USA Treasuries their holding. Take care whatever happens and all the best. Tony
Tony you are of course absolutely right about what matters. I looked up the Chan article, how do you interpret it?
Sotolo,
Briefly the reactions in the market are now the most extreme on gold selling since 2015. In the past 7 years such events have led to an event where panic has set in, and a significant amount of gold buying occurred. Each point on Chan's graph is two weeks and most events took 2 weeks to one month to build up. What we do not know in that paper is the history of earlier events like in 1980 when the value of dollar exploded to 160 on DXY. Chan has reported the clock on entering this zone has started. The fact so many people can no longer get a mortgage and rates are taking off could be a major recessionary signal. The same is now occurring in USA. The speed of rate hikes is having a major impact. Tony
Tornado, ironic that gold hit an all time high this week (in sterling which is what counts for us) so doing exactly what it should do, just unfortunate that again in sterling, costs have nearly doubled, so while gold is great as usual miners are a disaster - they only really come good if gol soars and faster than inflation ( which they find hard s mining inflation is high). Shudder to think how low profits will be at a time of record U.K. gold prices.
Sotolo,
At this moment in time the FED will not open swap lines to other central banks. As a result, the money markets globally are grinding to a halt. The yuan depreciated 1% in the last 24 hours and there is evidence of panic building in the Chinese markets. FX restrictions are likely to soon come into force in China We are seeing the beginning of a major global economic crash. The FED have taken the view that is USA first and their battle against inflation and the global role of a reserve currency is not their problem. The USA stock market will soon tell them it is their problem with a runaway USD. We are approaching a major event and I am not sure how it plays out. Around 40% of my portfolio is cash (that I have added). The FED has no idea of the damage unfolding and the problem is that it won't solve their inflation crisis either.
We are approaching a 2008-2010 crisis in my opinion. As an aside I went to a mall at Brent Cross yesterday and the easiest thing to do was find a parking space and find staff members serving if I wanted anything. The economy is going dead in the UK. The best deals for shopping were in Marks and Spencers. Tony
Hi Tony interesting analysis. We all knew this day was coming especially those invested in PMs. Can you please explain chans graph and what it means for PMs to the simple mind? Does chan mean with the current events PMs will shoot up ?
Chan has a market formula of moving averages to give his BP Gold indicator. It is currently well below 10%. He points out that falls below 10% are relatively rare. On the last 3 occasions this happened a major change occurred within one month on gold and GDX. GDX went up 40% -150% and gold went up between $200-$500.
What we do not have is the history of his indicator before 2015 unless somebody has joined his subscription club on whether the formulae always work or that data exists.
Its the end of Chans paper you need to look at.
Tony