Roundtable Discussion; The Future of Mineral Sands. Watch the video here.
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Major European markets traded higher in the premarket session of Tuesday as investors brace for a fresh set of economic data and ahead of the important interest rate decision by the European Central Bank due this week.
The DAX gained 0.55% at 7:13 am CET, while the CAC 40 added 0.52%, and the FTSE 100 rose 0.33%. The pan-European Euro Stoxx 50 advanced by 0.62%.
On the currency front, the euro and the British pound were up by 0.29% and 0.17% at 7:19 am CET, selling for $1.07888 8 and $1.25327, respectively.
Baha Breaking News (BBN) / JG
Thank you Cowichan and Mr Gnome , the problem we Centamin share holders face is that our CEO and Jersey BOD never seem to give us the full facts!
Thanks- will have my finger ready tomorrow for some trading if it goes the way we want it to- else will hold off
Director sold a lot last week
Steve
I would not be holding my breath on the CPI. In Oz
Rents through the roof if you can find a place
Cost of borrowings to finance house are way up (of course
Cost of food and drink are ALL up significantly...The monthly CPI indicator rose 6.8% in the twelve months to April.
The most significant price rises were Housing (+8.9% a lot of people would argue the figure is way too low), Food and non-alcoholic beverages (+7.9%) and Transport (+7.1%). Alcoholic beverages are signifcantly up, so much os that some people have cut down to a dozen tinnies and a bottle of vino a night! We have wages increase, but no productivoty increase etc...
So does not look good from downunder
best
the gnome
They should sell Doropo and buy Shanta Gold. They would have 100,000 a year increase plus on production they will get the nearest thing to a new Sukari/Bulyanhulu mine complex in Kenya with grades 6 times greater than Doropo. They can buy Shanta for probably 20-21p and it would be the best £250M they ever invested. If I was the CEO of Centamin, I would be in there like tomorrow and dump Doropo to another organisation well established in West Africa. Centamin should be the champion gold miner of East Africa.
SHAREHOLDERS will have to wait until mid-2023 for news of the economic feasibility of Centamin’s proposed 151,000 ounce a year Doporo project in Côte d’Ivoire. This was after drilling results in November recognized the possibility of producing higher-grade gold, as well as there being scope for improved processing configurations potentially lowering
the project’s $275m capital cost.
https://www.miningmx.com/wp-content/uploads/2023/02/Rainmakers-Potstirrers-2023-smaller-file.pdf
---------------------------------->>>
Despite what Mr Horgan said in this miningmx interview - there were no higher grade gold drilling results from Doropo last year - at least none shared with shareholders.
The multi year delay in releasing the Doropo PFS couldn't have be related to the June 5, 2023 vesting of shares awarded to Mr Horgan and his BOD sidekicks , could it?
Cheers Goldgnome- let’s hope for a big dent in the CPI data tomorrow- at present odds are on pause for Weds- a drop(and the larger the better) will mean the FED have to pause and good for CEY.
As the U.S. Treasury Department refills its General Account by selling assets, $1 trillion in liquidity could be drained from markets, warned James Lavish, co-Managing Partner at the Bitcoin Opportunity Fund and Author of "The Informationist" Substack. This, in turn, could "break" markets and cause a sell-off.
"Any way you look at it, it [the Treasury] is tightening," Lavish told Michelle Makori, Lead Anchor and Editor-in-Chief at Kitco News. "We could have some sort of liquidity event, some sort of credit event, that causes a sharp sell-off."
https://www.kitco.com/news/2023-06-12/-1-trillion-could-be-drained-as-Treasury-breaks-market-gold-and-Bitcoin-are-good-positions-to-take-James-Lavish.html
For those wanting light relief from the drama of watching CEY SP go up and down...
https://www.youtube.com/watch?v=Sj6-QDVYbv8
If you laugh at this there is more on the many financial advice channels...
best
the gnome
Importnt read, possible Black swan event."
09.48 . Cornelius Christian.
$1 trillion could be drained as Treasury "breaks" market.
They ,Powell, as I have commented before ,prepared to do anything to maintain the dollars value . And Bidens Democrats ,before the election.
Otherwise he and the rest of the FED could be out .
But not out of work ,as normal.
Oops it was earning throughout the H1 in previous.
For H2 if the average gold price sold was 1800, the entire year gold price average falls to 1853 per ounce sold. $94M profit or 7.1 per share has CEY at 95p at just 13.3 PE rate which is well below the 15 times PE average and well below 20 PE peaks.
Thanks for info cant go wrong when director buy in
Astro,
CEY is likely to deliver 48,000 ounces more gold in H2 over H1. H1 gold price sold is around 1930 per ounce. If the gold price dropped to 1800 tomorrow for the last 18 days of H2 the gold price average sold would only drop to 1919. CEY retreat is far more dramatic in relation to its earnings throughout all of H2. The current pull back is unlikely to see 80's handle on Centamin SP.
The director brought some share a few months ago at 98. so we can't be that wrong.
Still adding. 18 May gold 1965 futures and CEY 105p.
Gold same price and CEY 94.8p. Despite 2p divi this is severe front running on gold price. Slow stochastics are approaching 2023 lows and now within 1%. Daily RSI is 4% above low of 2023 at 29 daily. 94p should be strong support area.
Look like Gold is the boogle man for this bull run. hopefully, if the fed stop rate the gold might see this as a positive thing
490k not a million lol- I blame the calculator , but you get the gist.
Tony.
I always buy and sell around markers/data points, not in anticipation unless the probability is too strong to resist.
I don't work on fair value as it's pointless in stocks- the market decides the fair value and no one else. The value is the current SP it's that simple.
You post on this board most days, so just as quick to buy and sell stocks, and your %of portfolio is irrelevant to me unless it has say a value of say 7million and you've just bought million- happy for you to state the amount you bought in cash terms rather than % which could be anything. Having said this, as I've said before here, PMs are my biggest risk asset next to crypto, and represents ~10% of mine when I'm in and 0 when out. PMs are my most traded stocks by a country mile, and this one my most!
Somethings always cheap until it's cheaper... why not wait on news which could be good or bad, then go in or remain out?
Hi Mary,
During a recent conversation I had on on the fallacies the public were being pedalled abbot EV 's with a senor member of the Tory administration he agreed with me and that he wouldn't be changing from his 3 year old Mercedes 4 x 4 because the infrastructure was never going to be there to cope with the change over to EV's and there was no way that the government or any other could afford to continue to subsidise or give the present excise tax exceptions to electric vehicles!
Some facts from a very experienced and respected analyst
- to construct renewal energy infrastructure will take an enormous amount of energy. Where will this energy come from? Obviously until sufficient renewal energy becomes available this will have to be from fossil fuel sources and/or nuclear energy.
- Renewable energy infrastructure has a typical life of mine of 20 years. We can already calculate that as from 2050 we will produce twice as much waste per annum than currently we produce as plastic waste.
- The amount of mining required to produce one electrical car engine (average weight is 0.5 tonne) is 250 tonnes. This is produces almost all through burning fossil fuels. You then have an engine that needs to be charged with electricity. From what is this produced? Either fossil fuel, or renewables constructed from fossil fuel.
- The metal produced for renewables will have to be mined in areas where there is currently no mining. This will also affect the environment in a major way, not to speak of all the child labour involved in producing cobalt.
The efficiency of energy generation from fossil fuels (amount of energy obtained / amount of energy required to generate energy) is a much lower than fossil fuel (5 versus 15) and a fraction compared to nuclear energy (100). It means that renewables may well not give a sustainable economic society, alternatively will lead to much higher energy prices.
The current high fuel prices (which preceded the war) are due to pressure groups forcing oil companies to cut back on exploration and development, but at the same time requiring massive amounts of energy to build renewables.
There is very little potential further improvement for renewables: solar theoretical maximum efficiency turning foton energy into electricity is 33% versus 26% currently and for wind that is 60% versus 45% currently. Therefore there will not be any great leaps for gains here.
TJ: Well we had it tough. We used to have to get up out of the shoebox at twelve o'clock at night, and LICK the road clean with our tongues. We had half a handful of freezing cold gravel, worked twenty-four hours a day at the mill for fourpence every six years, and when we got home, our Dad would slice us in two with a bread knife.
EI: Right. I had to get up in the morning at ten o'clock at night, half an hour before I went to bed, (pause for laughter), drink a cup of sulphuric acid, work twenty-nine hours a day down mill, and pay mill owner for permission to come to work, and when we got home, our Dad and our mother would kill us, and dance about on our graves singing 'Hallelujah.'
MP: But you try and tell the young people today that... and they won't believe ya'.
ALL: Nope, nope..
ohn Cleese, Graham Chapman, Marty Feldman, Tim Brooke-Taylor and Aimee McDonald as host, created this surreal sketch show "At Last the 1948 Show" (the title was based on an idea of Feldman's that all TV executives shelved shows for years before finally broadcasting them).
This famous sketch was from the first episode that was aired and the waiter serving them is comedy genius, Barry Cryer.
https://www.youtube.com/watch?v=xqeZos7pm74
(Four well-dressed men sitting together at a vacation resort. 'Farewell to Thee' being played in the background on Hawaiian guitar.)
Michael Palin: Ahh.. Very passable, this, very passable.
Graham Chapman: Nothing like a good glass of Chateau de Chassilier wine, ay Gessiah?
Terry Jones: You're right there Obediah.
Eric Idle: Who'd a thought thirty years ago we'd all be sittin' here drinking Chateau de Chassilier wine?
MP: Aye. In them days, we'd a' been glad to have the price of a cup o' tea.
GC: A cup ' COLD tea.
EI: Without milk or sugar.
TJ: OR tea!
MP: In a filthy, cracked cup.
EI: We never used to have a cup. We used to have to drink out of a rolled up newspaper.
GC: The best WE could manage was to suck on a piece of damp cloth.
TJ: But you know, we were happy in those days, though we were poor.
MP: Aye. BECAUSE we were poor. My old Dad used to say to me, 'Money doesn't buy you happiness.'
EI: 'E was right. I was happier then and I had NOTHIN'. We used to live in this tiiiny old house, with greaaaaat big holes in the roof.
GC: House? You were lucky to have a HOUSE! We used to live in one room, all hundred and twenty-six of us, no furniture. Half the floor was missing; we were all huddled together in one corner for fear of FALLING!
TJ: You were lucky to have a ROOM! *We* used to have to live in a corridor!
MP: Ohhhh we used to DREAM of livin' in a corridor! Woulda' been a palace to us. We used to live in an old water tank on a rubbish tip. We got woken up every morning by having a load of rotting fish dumped all over us! House!? Hmph.
EI: Well when I say 'house' it was only a hole in the ground covered by a piece of tarpolin, but it was a house to US.
GC: We were evicted from *our* hole in the ground; we had to go and live in a lake!
TJ: You were lucky to have a LAKE! There were a hundred and sixty of us living in a small shoebox in the middle of the road.
MP: Cardboard box?
TJ: Aye.
MP: You were lucky. We lived for three months in a brown paper bag in a septic tank. We used to have to get up at six o'clock in the morning, clean the bag, eat a crust of stale bread, go to work down mill for fourteen hours a day week in-week out. When we got home, our Dad would thrash us to sleep with his belt!
GC: Luxury. We used to have to get out of the lake at three o'clock in the morning, clean the lake, eat a handful of hot gravel, go to work at the mill every day for tuppence a month, come home, and Dad would beat us around the head and neck with a broken bottle, if we were LUCKY!
Isn't everyone loaded?
I assume in the UK they must be as they all have to buy new electric cars in a few years and install chargers in the home.
Not forgetting the £22 for a 90 mile charge and road tax coming back.
Never had it so good. Pay per mile coming.
Oh and then they will say that EV were useless and we need hydrogen after all.
Steve
We do not know what the price pull back on gold will be. What we do know is that Centamin will have sold 40% of its annual projected output at around 1935-1940 spot or futures prices. The real value on Centamin at that price level is around 103p or higher. Trying to pick the exact bottom is not what I want to do. I am titrating in a significant amount of Centamin buying. It is now over 7% of my entire portfolio and I will build it up to around 22%. On Thursday I have a new fence going up and I can not look at Centamin SP all the time to get absolute lowest prices Tony.