George Frangeskides, Chairman at ALBA, explains why the Pilbara Lithium option ‘was too good to miss’. Watch the video here.
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Well there is a lot going on, and interesting to think where we are in the debt/conflict cycle ... ?
It is unlikely that this Israel-Hamas war will be limited to Israel and the Gaza Strip and likely that it will continue until one side clearly wins over the other. It is also likely that the wars involving Israel, Hamas, Ukraine, and Russia will have big effects on the ongoing great power conflicts, and it is VERY LIKELY that Hamas acted with support from more powerful countries.
the US is now fighting proxy wars in Europe and the Middle East while preparing for war in East Asia. As these wars spread, they will cost more.
when the leading empire is experiencing debt problems and great internal conflict and seems more vulnerable on the world stage, many different countries will push to get what they want, adding to the overall picture of the global balance of power
The yield on the 10-year Treasury note hit a 16-year high last week, climbing to 4.884%. In the meantime, the 30-year Treasury bond yield crossed above 5% – something also not seen since 2007.
Debt for sale but who will be buying...
This trifecta of events puts a lot of pressure on developing countries and lowers global demand for U.S. Treasuries and U.S. government debt instruments.
"Developing countries have dollar-dominated debt. And that debt is hardening relative to their cash flows, their own currencies are weakening versus the dollar while oil is strong. And ironically, there's an inverse relationship between the dollar and Treasury yields."
When the U.S. dollar rises, other countries buy fewer Treasuries because of the high exchange rate, and yields tend to go "A lot of the foreign buyers are pulling back their purchases of Treasuries because they're more in currency defense mode," she said.
Making things worse is how quickly the U.S. dollar index has advanced, leading to developing countries going on a U.S. Treasuries' "buyer's strike."
how is gold, Bitcoin, the U.S. dollar, and the U.S. economy going to react if the U.S. government did shut down this fall...
https://www.kitco.com/news/2023-10-11/The-next-challenge-Who-will-be-buying-U-S-debt-Lyn-Alden.html
regards
The gnome
Hi Rebess,
Didn't bother with the presentation because I had suspected that it wouldn't be groundbreaking!
Less gold but more baloney!
Q3 Truth quarter: - Forecast to come in at lower end of guidance. - That's a pity. - What a nice surprise to have learned higher end instead. - That would have given a boost. - Doesn't make much difference either way to the 'Largesse-Lollipop' brigade. - They will get more than their fair-share regardless.
The glaring lie in today's revised LOM being:
Optimised open pit
· Redesign: Improved geological and geotechnical understanding of the orebody, alongside improved ground conditions following the incorporation of paste fill has resulted in a re-optimised open pit design.
· Reduced strip ratio as a component of the redesign: Optimisation of the open pit wall angles alongside an increase in ore tonnes has resulted in a reduced strip ratio of 6.5x
----------------------->>>
Yes, reduced from the ridiculous one-time Capital Drilling waste stripping contract of >10x
but more importantly it represents an INCREASED from the previous LOM ratio of 5.3 to 1
Mr Horgan has proved time and time again he's a fraud - spinning the latest figures as improvements when in fact it's not
I don't know who posted it a few weeks ago about a Sukari plant disruption causing missed Q3 production target - but we all poo pooed him as ill-informed - I even think Tibbs might have checked with shareholder relations (correct me if I'm wrong Tibbs!) so it turns out he was right !
Whether or not Q4 makes up the missed ounces is really irrelevant - the most important fact to come out of this update is CEO Horgan cannot be trusted - he doesn't know what truth is
To join the webcast:
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Cpi slightly hotter alas, but marginal.
Taken some shine off here, but this could of course alter as build up to the US open
Agreed, dont worry about the short term market if you are a long term investor, except grab the opportunities when they present
what does the back of the *** packet say regarding profits and dividends at say $1800 and $1900 price of gold for the next year?
i think back in april of this year some people were talking of gold at $2200!
A great cpi at 13:30 and this will jump again - here’s hoping
Thanks bohetcom
It was 200p three years ago and has been declining since so am hoping it can begin a recovery from here.
@Somnamna - regarding "Average gold production of 506,000 ounces per annum for next nine years (2024-2032); and 475,000 ounces per annum for life of mine (2024-2034), reflecting a 5% increase in LOM gold production compared to FY22 (441koz)"
It's just a reflection of the last two years - 2033 and 2034 where production drops off to 380,000 and 295,000 respectively, as you would expect at the end of mine life. So this lowers the overall average for the full 11 years, compared to a higher average over the next 9 years of full production.
Best news out of the company in 3 years ! The market is just so short term it can`t get it.
As long as Gold continues it upward trajectory, things are looking very good.
AISC $922 and over 500k from next year, what is not to like
Is lower than forecast.
It’s like a hair in your ice cream, I wonder how the market will react given that the new life of mine report is so positive.
Seems to be good news but I don't understand the difference between Av Gold Production 506,000 for the next 9 years (2024-2032 and 75,000 ounces per annum for life of mine (2024-2034) in the following line:
- Average gold production of 506,000 ounces per annum for next nine years (2024-2032); and 475,000 ounces per annum for life of mine (2024-2034), reflecting a 5% increase in LOM gold production compared to FY22 (441koz)
Whoops
“ In September, as part of the routine mill relines, a potential issue was identified on SAG mill 1 ("SAG1") and the decision was taken to undertake pre-emptive repairs. The work was successfully completed and SAG1 has been fully operational since 1 October 2023
· As a result, production for the three months ended 30 September ("Q3") was 101,370 ounces. Despite being lower than the internal forecast, the build-up of high grade material on the ROM pad and increased operational flexibility in the mine plan means that 2023 annual production guidance remains on track”
Hmmmm… quick scan- first but reads good, jam tomorrow but looks believable
Rest is a bit odd- need to check what was published as expected q3- “internal target” was this different to “published”, either way is there catchup to be done in q4? Need to check the figures
Stock exchanges in Europe traded higher in the premarket hours on Thursday as investors awaited key data releases in the United Kingdom, which include data on the country's gross domestic product, industrial production, and trade balance.
The fresh readings could give more insight on the stability of Britain's economy in the face of global economic headwinds and restrictive monetary policies. In the hours ahead, European Central Bank will post accounts from its September policy meeting. Across the pond, the United States Bureau of Labor Statistics will release the latest reading of the country's consumer inflation.
London's FTSE 100 went up by 0.35%. The DAX gained 0.34%. The CAC 40 gained 0.06%. The Euro Stoxx 50 climbed 0.61%.
At 7:55 am CET, the euro rose 0.12% compared to the dollar, changing hands to 1.06332. The pound sterling added 0.11% against the greenback, with an exchange rate at 1.23274.
Baha Breaking News (BBN) / AB
Welcome to Chitty-chat Thursday y’al
Today’s event starts at 14.30 BST
(UK time)
To join the webcast: https://www.lsegissuerservices.com/spark/Centamin/events/e9d8edd6-7536-4e63-810f-a08189c4f89b
Please allow a few minutes to register.
A replay of the event and presentation material will be available on the Company's website.
*A positive day y’al
Gold currently + .26%
Https://www.lse.co.uk/rns/CEY/sukari-new-life-of-mine-plan-wfdh6vujopjyg2i.html
They can take the transport costs, petrol, diesel out of the Inflation index of course, LOL
The cost of the Australian newspapers has gone up 300% in the last few years, so I took them out of my shopping index (with the amount of BS in them , they should never have got in, in the first place !)
Sorry about that
couldn´t resist, go gold!
The Gold Gnome, safe in a golden bunker...
With combustibles rising ,tranport costs rise
In general causes inflation.
The FED is in a quandre ,no where to go.
Yep that was the worry the other day, less so now.
Need a lower than expected or at worse, in line, CPI print tomorrow, else 10yr will rise, and we all know what that means
The yield on the 10-year Treasury note hit a 16-year high last week, climbing to 4.884%. In the meantime, the 30-year Treasury bond yield crossed above 5% – something also not seen since 2007.
The combination of the U.S. dollar, U.S. Treasury yields, and oil rising at the same time is concerning, Alden told Michelle Makori, Lead Anchor and Editor-in-Chief at Kitco News, on the sidelines of Pacific Bitcoin Festival in Santa Monica, California.
This trifecta of events puts a lot of pressure on developing countries and lowers global demand for U.S. Treasuries and U.S. government debt instruments.
"Developing countries have dollar-dominated debt. And that debt is hardening relative to their cash flows," Alden said. "Their own currencies are weakening versus the dollar while oil is strong. And ironically, there's an inverse relationship between the dollar and Treasury yields."
When the U.S. dollar rises, other countries buy fewer Treasuries because of the high exchange rate, and yields tend to go up, Alden explained. "A lot of the foreign buyers are pulling back their purchases of Treasuries because they're more in currency defense mode," she said.
Making things worse is how quickly the U.S. dollar index has advanced, leading to developing countries going on a U.S. Treasuries' "buyer's strike."
https://tinyurl.com/2p9japbu