George Frangeskides, Chairman at ALBA, explains why the Pilbara Lithium option ‘was too good to miss’. Watch the video 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.
Who knows - maybe the terms aren't as good for the Mali people as they should be
that said, investors in B2Gold, Resolute & Hummingbird deserve fiscal reliability in order to spend 100s of millions in risky exploration
Very true Tibbs - without the 'blind eye' or outright support of stronger nations these repressive leaders wouldn't be able to continue unchallenged
Not free’
Africa has a number of countries designated as “not free” where regimes receive strong UK support.
One is Egypt’s military junta, which has arrested as many as 60,000 political prisoners since overthrowing the country’s democratically elected President Mohamed Morsi in 2013.
Morsi died after being put on trial and his son Abdullah is believed to have been assassinated by poisoning. Last year Egypt hanged 152 prisoners, including activists from Morsi’s party, the Muslim Brotherhood.
https://declassifieduk.org/britain-backs-most-of-the-worlds-repressive-regimes-new-analysis-shows/
Since 2015 the UK has sold £10 billion worth of weapons to the world’s most repressive regimes. Our government has sold arms to 35 of the 48 countries identified by Freedom House, a US based human rights institution, as “not free”.
Our UK government claims to stand up for human rights and only in March Dominic Raab, Britain’s Foreign Secretary, gave his support to the UN’s global ceasefire. While claiming such niceties, the UK continued to export weapons of war, helping to feed and sustain conflict across the world.
https://www.stopwar.org.uk/article/the-uk-has-sold-10-billion-of-weapons-to-the-worlds-most-repressive-regimes-in-the-past-five-years/
A good and interesting post Cowichan, as a source of information you are doing a great job, thanks.
But surely all is not bad in Mali, the article does say:
"The shortfall is around 300 to 600 billion CFA. So if the facts are established, it will be a question of re-negotiating what is renegotiable and recovering what is recoverable," Sanou said on state TV. "When we go into negotiations with the companies, it is possible that we will obtain 300 to 400 billion," he added."
Or is that a smoke screen?
August 30, 2023 4:25 PM
- Mining firms such as Barrick Gold, B2GOLD, Resolute Mining, and Hummingbird Resources operate in Mali, a major gold producer in Africa; the new law aims to re-negotiate contracts and recover state losses of up to $995 million
- Mali's Interim President Assimi Goita approves new mining legislation aimed at increasing gold concessions and addressing production income shortfalls
Alousseni Sanou, the finance minister for Mali, stated on Monday night that an assessment of the mining industry had revealed that the state was losing between $497 million and $995 million ($300 billion to 600 billion CFA francs), which it aimed to recoup.
"The shortfall is around 300 to 600 billion CFA. So if the facts are established, it will be a question of re-negotiating what is renegotiable and recovering what is recoverable," Sanou said on state TV. "When we go into negotiations with the companies, it is possible that we will obtain 300 to 400 billion," he added.
Mining Minister Amadou Keita stated that the new rule will tighten down on mining corporations processing their gold ore at a second, tax-exempt mine, which has resulted in some state losses. He said that the granting of mining titles would receive more attention.
"From now on, for the sake of transparency and inclusiveness, mining titles will be signed by several ministers (finance, mining, environment, etc.)," he announced via a television broadcast.
Assimi Goita, the interim president of Mali, has approved new mining legislation that would enable the military-led administration to acquire more gold concessions and make up for what it claims is a significant shortfall in production income.
https://africa.businessinsider.com/local/markets/malis-interim-president-approves-new-mining-law-to-boost-gold-production-and-revenue/pnlpqce
------------------------->>>>
Too much military control in government always ends up killing investment. Sad day for Mali. To me it's the path Sisi has allowed Egypt to follow, too.
Terrible Human Rights record? Loads of restrictions on foreigners & their capital? Environmental degradation overlooked? Zero free speech? If you answered yes to any of these then the BRICS is your new home - welcome to the world's greatest collection of losers. Latest case in point:
(Beirut) – A Saudi court has sentenced a man to death based solely on his Twitter, and YouTube activity, Human Rights Watch said today.
On July 10, 2023, the Specialized Criminal Court, Saudi Arabia’s counterterrorism tribunal, convicted Muhammad al-Ghamdi, 54, a retired Saudi teacher, of several criminal offenses related solely to his peaceful expression online. The court sentenced him to death, using his tweets, retweets, and YouTube activity as the evidence against him.
“Repression in Saudi Arabia has reached a terrifying new stage when a court can hand down the death penalty for nothing more than peaceful tweets,” said Joey Shea, Saudi Arabia researcher at Human Rights Watch. “Saudi authorities have escalated their campaign against all dissent to mind-boggling levels and should reject this travesty of justice.”
Human Rights Watch has repeatedly criticized rampant abuses in Saudi Arabia’s criminal justice system, including long periods of detention without charge or trial, denial of legal assistance, and the courts’ reliance on torture-tainted confessions as the sole basis of conviction. The violations of defendants’ rights are so fundamental and systemic that it is hard to reconcile Saudi Arabia’s criminal justice system with a system based on the basic principles of the rule of law and international human rights standards.
https://www.hrw.org/news/2023/08/29/saudi-arabia-man-sentenced-death-tweets
--------------------------->>>>
The same goes for Russia, China & Egypt - with others to varying degrees. Is this the secret to long term economic success? Doubtful, esp. if you happen to live there.
Worth reminding anyone with a short on Centamin that they will be due to pay 2c and if in a CFD position then its collected tomorrow!
Shanta has been a shocker this quarter Tony despite the recent RNS, still slipped after that- follow it, but never got comfortable in trading it- just this one for now for me. I used to trade HGM and Randgold until they both got bought out.
I always follow the data around delivery times- gold can up or down, so I prefer to do it this way. Gold will go up if the drivers are there for it and down if they go against it- I've developed my own drivers for it (economic) and work on the basis on more right than wrong, and disciplined on the S/L and mostly on the T/P limits!
Been a good few days trading- this is a great trading stock as always.
Collecting divi on 75% of the holding as long. Keeping 25% on as short.
Centamin and Shanta not doing that much. Suggests the gold rally may not have that much to run. Gold spot is at significant resistance.
To state the obvious for most (but not all), if you want your 2 cents, you need to be holding by close of play today.
And the SP open at the close price, minus the 2 cents tomorrow @08:00 for normal traders.
Equities in Europe traded higher in the premarket on Wednesday in anticipation of reports on Germany's inflation and the Eurozone's consumer confidence.
The DAX gained 0.07% at 8:00 am CET. At the same time, the FTSE 100 rose by 0.11%. The CAC 40 grew by 0.10%. The Eurostoxx 50 advanced by 0.15%.
The euro lost 0.12% to the dollar at 7:58 am CET to go for $1.08664. A minute later, the pound sterling went down by 0.16% against the United States currency to sell for $1.26240.
Baha Breaking News (BBN) / JR
Happy hump y’al
Holding well and Asia followed rise from USA yesterday as per norm. FTSE futures up again, on top of recent large gains.
Data this week:
https://www.marketwatch.com/economy-politics/calendar
Not a bad start to the day.
Will it last?
Https://www.zerohedge.com/markets/western-world-about-deliver-some-very-bad-news-its-young-adults
OOps wrong link
Https://www.indexmundi.com/commodities/?commodity=nickel&months=120&commodity=goldhttps://www.zerohedge.com/markets/western-world-about-deliver-some-very-bad-news-its-young-adults
I suspect the culture war that has been playing out in both the UK and USA is like the dead cat on the table hiding the fiscal mess which needs to be dealt with. Tony
Correct link below
The new BRICS memberships will take effect from January 1, 2024
https://tinyurl.com/mr32thd2
The new BRICS memberships will take effect from January 1, 2024. However, out of the six new members, Saudi Arabia is yet to officially confirm, with the country’s Foreign Minister Prince Faisal bin Farhan stating, “We await further details” and “based on this information and in accordance with our internal procedures, we will make the appropriate decision.”
https://tinyurl.com/4y8y7xrt
Https://cointelegraph.com/news/btc-price-2-week-highs-grayscale-sec-bitcoin-etf-win
Tony, No worries. Thanks
The data collections and reported in August and September are renowned for being off the mark as sampling data is very low because of staff holidays. I sense the rise in gold is a possible bull trap. The more important data is later in the week.
Congratulations in buying in at the very lowest point/day in the last 8 years
Overall, I like the look of Centamin shares andmy investment is currently up close to 20%. Thefact that it is trading at a penny share level withan enticing yield is positive for me, as I’m going to buy some further shares for my holdings.
The post
Here’s why I bought this exciting pennyshare with its 4% payout
appeared first on
TheMotley Fool UK
.
Here’s why I bought this exciting penny share with its 4% payout
Sumayya Mansoor 11 August 2023
One penny share I added to my holdings some time ago is Centamin (LSE: CEY). At the time, Ifelt it was an opportunity not to be missed. I still feel the same way. Here’s why.
Centamin is a mineral exploration, development, and mining business. Its primary asset is the Sukhari Gold Mine in southern Egypt. It also mines ore minerals and processes it at its own on-site plant. Furthermore, it owns potentially lucrative exploration and development assets in Burkina Faso and Cote d’Ivoire.
It is worth remembering that a penny share is one that trades for less than £1. So what’s happening with Centamin shares currently? Well, as I write, they’re trading for 91p. At this time last year, they were trading for 94p, which is a3% drop over a 12-month period. The shares issues have pulled the markets and many shares back in recent months.
Why I bought Centamin shares and would buy more
During times of economic crisis, like now, due to soaring inflation and rising interest rates, safe-haven metals like gold offer protection in an investment portfolio as the prices of these commodities rise. This can boost performance and returns for firms like Centamin.
I’m not one to invest for short-term gains. With that in mind, I’m buoyed by Centamin’s long-term growth aspirations. In its recent updates, Centamin confirmed that it is on track to produce half a million ounces of gold in 2024, its highest amount. In addition to this, there are positive signs coming from its exploratory assets, especially the one in Burkina Faso. All these things could boost future earnings and investor returns.
Moving on to the fundamentals, Centamin shares possess a dividend yield of 4%. This yield is above-average for a penny share. However, I do understand that dividends are never guaranteed. In respect of the dividends I’ve received to date, I plan on reinvesting these to buy more Centamin, or other UK shares to boost my holdings.
Next, Centamin’s valuation still looks decent tome on a price-to-earnings ratio of 16. This could tempt me to add some further shares to my holdings.
A penny share with risks but potentially lots of rewards
Despite holding Centamin shares, I am wary of some issues that could impact my investment and the business. To start with, Centamin shares and performance could be adversely impacted ifgold prices were to fall. I’m not too worried about this personally as I believe that due to the current economic outlook, gold prices could continue to rise towards record highs.
The other issue Centamin could face is that exploratory assets may not end up yielding anything of note. This would be a big blow that would most definitely impact performance as well as investor sentiment and returns.