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 Razors, whether Gold rose thro middle east skirmish or just overvalued Fiat currencies dosnt matter.
It was long coming, welcome back to the realms of reality.
Prices of most precious metals rose after hostilities between Palestinian militant group Hamas and Israel escalated over the weekend. Traders were apparently seeking safe-haven assets after over 40 hours of military conflict in the Middle East left over 1,100 people dead and after a media report that other regional powers may have been involved.
Gold rose by 1.16% to $1,852.02 per ounce and silver moved up 1.18% to $21.82 per ounce at 12:12 am CET on Monday.
Platinum advanced 0.44% to $884.41 per ounce and palladium was flat at $1,140.90 per ounce a minute later.
Baha Breaking News (BBN) / MS
Capital Ltd (CAPD), previously known as Capital Drilling, is an example of a small-cap stock being hit disproportionately hard by negative news, says Allianz Global Investors’ Richard Knight.
The Citywire Elite Companies A-rated mining services company has a focus on the gold mining industry in Africa and is a top 10 holding in Knight’s Allianz UK Listed Opportunities fund where it makes up 2.4% of the £197m portfolio.
‘The shares have performed poorly following a trading update in July, though the update was only slightly soft on revenues and led to very minor downgrades in profit expectations for the year, though management guidance was maintained,’ Knight said.
He added that the ‘more salient news’ was the ongoing longer-term contract wins in mining services in new metals and in new geographies that ‘significantly de-risk the business operations’. This, along with growth in materials testing means it ‘warrants a much higher valuation than the group average’.
Shares in Capital added 1.8% to 79.8p on Friday, but have tumbled 17% this year.
———
*Capital are the main contractor handling the waste clearing at Sukari
Iran is the master mind, and you know what follows, Other islamic nations could be complicit...and you know what follows ... sadly. You can bank on the us$ LOL
Perhaps a better strategy than declaring war on China...LOL.
When will humanity evolve?
good luck to all
the gnome
Not to worry he the official was instsntly arrested.
So presumably "He" is in deep poo poos.
Two Israeli tourists and local guide shot dead in Egypt, Israel says
Two Israeli tourists and their Egyptian guide have been shot dead in the Egyptian city of Alexandria, the Israeli foreign ministry says.
Another Israeli was wounded in the attack on Sunday morning, which the ministry said a "local" carried out.
There was no immediate confirmation from Egyptian authorities.
https://www.bbc.co.uk/news/world-middle-east-67046394
https://tinyurl.com/yfeca8ha
Egyptian policeman opens fire on a group of Israeli tourists in Alexandria.
OK Biden, the solution is simple.
Sanction both Israel And Palestine.
;-)
War has been declared in Israel. Sadly.
With the new escalation in the Middle East another war may not be so far off.
"A general trend in the past is when you have a high level of disarray in the past, they start a war (in the name of democracy or something like this), but this time it might be internal ?"
As I posted previously, I and a few others think there are more important things at play in the US. One of them is Ray Dallio who comments (briefly)
In this, the latest episode of this drama, Kevin McCarthy tried to piece together a deal and a vote that required some Republicans and some Democrats to come together to support it. This was one of several bipartisan votes for this Congress that McCarthy helped to engineer in his tenuous position as the Republican speaker of the house (including Ukraine funding, raising the debt ceiling, etc.) that led to him being booted out and accused of being disloyal to his party. While I sympathize with those who worry about the increasing growth in debt, I am even more concerned about who has what powers and the choices that are being made to fight rather than to cooperate across party lines and view this development as another step away from democracy and toward civil war.
I hope it is now clear that the two parties are squaring off into monolithic blocks that are controlled by uncompromising, win-at-all-costs extremists and that most everyone will be forced to pick a side and fight for it. While this tendency is most obvious in the Republican Party, it is also true for those in the Democratic Party. (Though the Democratic Party wisely chooses to make it less obvious, it very apparently demonstrates it in the ideological conflicts that are taking place throughout government, especially in congressional committees.) This is now a fight to win-at-all costs game in which just about anything goes, including fighting dirty (lying and cheating), and respect for the system doesn’t matter much.
Nothing new with his comment on lying and cheating which is part of US business and politics and has been for more than 100 years. It is disappointing to see it going to new levels of stupidity. Good luck the US$
Very concerning that trust has left the US
https://www.youtube.com/watch?v=PhAGPQE0H-U
A general trend in the past is when you have a high level of disarray in the past, they start a war (in the name of democracy or something like this), but this time it might be internal ?
cheers
I did say before the US numbers were released at 13:30 in the US yesterday that wage growth data was the most important- glad to see the analysts are now catching up and reporting this hehe.
Lower than expected wage growth generally means lower cost of production/supply of a lot of goods which means less inflation which means less chance of rate hike as all the fed care about is inflation - this is why I keep saying “inflation, inflation, inflation…”
SteveJones999
Posts: 1,876
Price: 79.10
No Opinion
RE: SP6 Oct 2023 13:28
It's all linked, the FED went to hit their inflation.
A miss on wage growth is more important to gold than NFP.
US Labour market: what's behind unexpected growth?
Business Matters
Employers added 336,000 jobs in September, almost double the 170,000 estimated, according to figures released by the Labour Department.
Great news if you're looking for work there, of course, but if you're in the Federal Reserve, America's central bank, and worried about the economy overheating, maybe not so good.
https://www.bbc.co.uk/programmes/w172yzrrxxk9085
06 Oct 2023
Available for over a year
The World Trade organisation has halved its estimate for global exports growth this year - from 1.7% to just 0.8%. Ngozi Okonjo-Iweala, WTO director-general, said the projected slowdown was “cause for concern, because of the adverse implications for the living standards of people around the world”.
https://www.bbc.co.uk/sounds/play/w172yzrrxxk63c2
Spot prices of precious metals jumped on Friday after the latest United States nonfarm employment report showed slightly lower-than-expected wage growth, seemingly leading traders to believe that inflation could soon subside to acceptable levels and make the Federal Reserve cut interest rates.
Gold increased by 0.69% to $1,833.06 per ounce at 11:59 am ET. Silver gained 2.84% and reached $21.56 per ounce moments after jumping by as much as 3%.
Platinum advanced 2.38% to $884.86 per ounce at 12 pm ET. Palladium climbed up 1.12% to $1,145.25 per ounce concurrently.
Baha Breaking News (BBN) / MS
🗣️“Gold mining as a development engine within emerging economies presents huge economic potential” – Martin Horgan, Centamin CEO.
A thought-provoking panel discussion on the future of gold at today’s
@FinancialTimes
Mining Summit.
@ftlive
#FTMining #Gold #CEY
short video link
https://twitter.com/CentaminPlc/status/1709969890981851526
More video on demand will be available on Monday 9 October here:
https://mining.live.ft.com/
1:20 PM - 2:00 PM GMT +1 / 6:20 AM - 7:00 AM Your local time (40 Min)
Panel Discussion: A Modern Gold Rush - Will it Continue?
Gold is often a safe haven in times of uncertainty such as the present moment. But what place does gold have in a digital world? And is gold’s role expanding in a “de-dollarised” world? This panel will explore gold’s role in the modern era and how it is evolving.
How do investors view the gold industry, and how is that shifting?
What is the sustainability case for gold?
What has been the impact of Russian sanctions and de-dollarisation?
Note: Mr Horgan is there as a speaker ( & director Marna Cloete albeit not as a Centamin rep) https://mining.live.ft.com/page/2313657/speakers
Also, Barrick's Mr Bristow is there speaking - so that makes 2 conferences where Barrick and Centamin's CEO's were present in the span of a month
Kareem Elkady
Administrator at Sukari Golden Mine
3h •
ما ينفعش تبقي مدير مسئول الا لما تفهم يعني ايه نفس بشرية بتتأثر بالسلبية و التقليل من الشأن و اللوم و قلة التشجيع.
متبقاش مدير إلا لمًا تفهم إنك مسئول عن نفسية الناس اللي شغاله معاك و تخلي معنوياتهم في السماء يا تنزل بيها ل سابع أرض.
متبقاش مدير الا لما تخلي الناس تصحي لشغلها و هي عايزه تروح مش شايلة هموم الدنيا فوق كتافها.
متبقاش في منصبك همك بس الشغل يخلص حتي لو علي حساب نفسية إنسان و تقطيمه.
خلي ده هو معيار نجاحك.
By:Azmi Gaber
#sukari_golden_mine
It is not useful to remain a responsible manager unless you understand what it means for a human soul to be affected by negativity, underestimation, blame and lack of encouragement.
There is no manager left unless you understand that you are responsible for the psychology of the people who work with you and empty their spirits in heaven or bring it down to the seventh earth.
There is no manager left except when you let people wake up to their work, and they want to go away, not carrying the worries of the world over their shoulders.
You don't remain in your position, but work is saved, even if at the expense of the psychology of a human being and breaking him.
Let this be your criterion for success.
B:Azmi Gaber
#sukari_golden_mine
https://www.linkedin.com/posts/kareem-elkady-ba6380190_sukariabrgoldenabrmine-activity-7116060342631174144-VXIT
Abdulrahman Mohamed and 8 others
----------------------------->>>>
As I follow news of Sisi's run for a 3rd term , it's clear Egyptian politics are a strange mix of pseudo religion, superstition and nationalism. I suppose in some ways Egyptians get out what they put in, which isn't great for their economy, unfortunately.
Russian oil trading and the Chinese push for all 1.4 billion citizens to regularly purchase gold through the People’s Bank of China.!
The impending supply demand imbalance, explaining how soon one third of global gold resources could quickly be consumed by even a small percentage of Chinese citizens purchasing a gram each month!
https://tinyurl.com/5xmjmsfz
Looking back you also need to factor in the political and concession licence legality uncertainty not to mention the undiscovered grades and the true potential of the underground operations and the lifespan of the mine.
Possible a fair share price should be nearer at least £1.30!
When comparing with the past, Reserves and resources plus cash in the bank need to be factored in. The best comparison is with H1 with average gold sold at 1935 say at 220,000 (425M revenue). Q3 probably 118,000 ounces but at 1925 price 227M revenue and Q4 with 60,000 hedged at 1900 and let us 1700 for 60,000 worse case (216M Revenue). the revenue is within $2M and if gold was 1800 average for unhedged it would be plus $4M. Although there is more Capex in H2 the reserves and resources are updated. H1 average price is 106p and we are nowhere near it.
Reading Kitco this afternoon, some say US interest rate will go up ,others say interest rate will be on hold.
In other words they dont know.
Dont trust any of them.
Look usa stock market moving up again they don't care about job data. Unfortunately, gold is stuck.
But any long term holder knows that this share price is just "Silly' , it was higher than now before Sukari stage 4 was completed, the CAPEX repaid and the commencement of profit share and payment of dividends !
It's pretty stupid that funds and institutions are buying into government bonds nderwritten by the creation of even more debt!
Looks to me like a load of part time, seasonal new jobs, as well as growth in government non-jobs. Not clear evidence of a strong economy at all, IMO.
But OK, let's see if they raise rates again. Heck, go straight to 7%. That will prove one way or the other if the US economy is strong :)
A lot of people do not believe the figures coming out of BLS on NFP anymore. They revised two earlier months higher as well. A lot of temporary workers were getting employed for Christmas run in and a lot of retirees getting replaced are listed as a new job number. So the revisions get made when the retired job gets filled or whatever. A lot of temporary jobs then disappear but some get counted again when temporary employment returns. In the meantime used as an excuse to lower gold prices and pump USD.