Charles Jillings, CEO of Utilico, energized by strong economic momentum across Latin America. Watch the video here.
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Gold spiked to 2284, now 2280
I think the biggest driver of the share price will come with any increase in dividends.
With current profits of over $1000 pr once, hopefully it won't be too long before the real party starts.
Doropo was privately owned at the time Centamin made their move so not something that would necessarily be on the Chinese radar. They like to work within government circles without getting involved in tenders. As for the court case I don't think much would have been done about it as it came from left field or on the blind side. There wouldn't have been any share holders so nobody would have heard about any inefficiencies or an unstable area.
I have never been on a Chinese run mine but I have visited a dam and road contracts hence knowing something about how they work.
3bear. Share price looks forward, mining investors having been caught out so many times don’t entirely believe the bull is back….yet, plus probably expect a pull back first even if it gets going so expect like Tornado they can buy cheaper. They may be right they may be wrong but if wrong Cey has a long way to go so I hold
I’ve proved this so many times over the past, the rest is just a 50/50 gamble, and I don’t gamble.
Follow the data- it’s always the way to go.
Quite happy for gold to rocket Steve. However, I sometimes wonder about the consequences generally when it does. I also have enjoyed a great run on the gold miner ETFs, CEY, HoC, Shanta Gold and more recently FRES. Have sold them all on the early side but have another positive year on the portfolio.
The pump and dump game is only a possibility and it is not just gold, a lot of things have stretched valuations at that moment.
When everyone gets on one side of the boat I often become a bit more contrarian. Sentiment is so high that the greed indicator is sky high and fear is near zero.
GP and futures up overnight to within touching distance of 2300. SP down on yesterday. Nuts.
Cant understand why everyone does not follow Kitco Commodities news, which now has no doubters as to the direction of Gold.
It is Election year and volatile , so virtually every bank ,apart from the FED is covering themselves .
Wow Tony- you seem really desperate for gold to fall.
Jeff Christian very interesting on Central Bank purchasing of gold at 26mins into vid on link below.
He says Central bank purchases of gold are not at record levels at all and almost half of it last year was China buying from its own internal market.
But someone must be buying a lot of it - or an awful lot of people must be unwilling to sell - for the price to be continually breaking new ground - anyone got any ideas?
https://www.youtube.com/watch?v=t5h7-Gor5vk
Radomski bought a gold long yesterday on Gold eagle news. End of the rally.
Major stock indexes in Europe traded lower in the premarket session on Wednesday as investors awaited the latest report on the Eurozone's Consumer Price Index (CPI) scheduled for release later in the day. Additionally, fresh data on euro area unemployment is expected to be published today.
The DAX traded 0.24% lower at 8:00 am CET, while the FTSE 100 fell by 0.47%. At the same time, the CAC 40 lost 0.10%, and the Euro Stoxx 50 declined 0.20%.
The euro and the pound both traded flat against the dollar at 7:58 am CET, selling for $1.07743 and $1.25767, respectively.
Baha Breaking News (BBN) / JJ
Happy hump y’al
Gold currently $2284.32
Good morning Sotolo,
Hope all is well with you.
Is this time different - the million dollar question!
Are you still in HOC? The SP is starting to look a bit less sickly. I got most of mine out about level at just above 200 but have a small position there that I got stuck with when it went down into the 50s, so good to now only be a third under on those rather than three quarters.
Best wishes,
Prof
Prof as ever you took the words from my mouth, we have been here so often before is this time different,
Interesting article.
https://www.kitco.com/news/article/2024-04-01/gold-price-hits-new-record-highs-west-loses-price-setting-powers-frank
Gold has just taken out $2280.
Hi Tony,
The key question is indeed will it hold. The lack of a strong increase in the SP of the mining companies suggests the expectation is no. I am hoping that it will and mining companies will catch up but I have been wrong many times before. I am just conscious of the spring/summer of 2020 when CEY when sharply up over just a few months and wonder whether we could see that again.
Best wishes,
Prof
The gold price has moved £105 an ounce since 20 March only two weeks ago. The last two occasions this kind of increase arose arose was after the Brexit vote when the UK currency dropped significantly and during the August gold rally peak that formed in 2011. Zero hedge has a gold article tonight trying to work out what is going on as so many sources are not buying gold and some are selling into this rally.
Woops mistaken identity 🤭
Private equity firm Silver Lake Partners LP announced on Tuesday that it will acquire entertainment company Endeavor Group Holdings, Inc., in a $13 billion deal, or $27.50 a share.
"Under the terms of the agreement, Silver Lake will acquire 100% of the outstanding shares it does not already own, other than rolled interest. Endeavor stockholders will receive $27.50 per share in cash, representing a 55% premium to the unaffected share price of $17.72 per share at market close on October 25, 2023," a press release reads.
The transaction is expected to be completed in the end of the first quarter of 2025 and is pending to the satisfaction of customary closing conditions and required regulatory approvals.
Baha Breaking News (BBN) / RR
Keywords: MERGERS AND ACQ
At this level of gold price Cey is clearing over $1,000 an oz assuming AISC around the middle of their range. At the top end of the forecast production that means $500M which leaves just under $250M after the Egyptian share. Assuming gold does not fall to far from the current price, and of course it could well increase, then Cey, to use Tibbs' phrase from a few years ago (2020?) will once again 'be spitting out cash like a demented cash-machine'. Is it time to talk of gold flip-flops again?
Best wishes,
Prof
Thank you Dansul, that is encouraging!