Charles Jillings, CEO of Utilico, energized by strong economic momentum across Latin America. Watch the video here.
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Hard to tell Dasut- holding before a scheduled RNS is always a gamble here. SP holding quite well, considering gold.
GLA.
*FED adding 25bps
Follow the market and sell. Fed at 25pbs in a couple of weeks, which means dollar up and gold down.
Buy again once the 3 month t bill tops out, in around 8 weeks
Just what we don't need right now is a drop in the Gold Price the day before the first quarter numbers. We have been told that the ounces will be down because of a Plant Service but doubt that will prevent the Share price taking a hit.
The founder and chairman of a biotechnology company planning to quit the City has slammed the London stock market as 'a complete waste of time'.
Italian entrepreneur Gabriele Cerrone, who floated Okyo Pharma in July 2018, said building a biotech company in the UK 'is like trying to grow plants in the desert'.
Explaining his decision to delist the stock on May 12, he said the volume of shares traded in London is 'negligible and does not justify the associated costs'.
And he complained investors are only interested in miners and oil giants!
https://www.thisismoney.co.uk/money/markets/article-11987227/London-stock-market-complete-waste-time-says-biotech-tycoon.html
London's blue chips have fallen back as stronger than expected CPI numbers point to a further rate hike when the Monetary Policy Committee meets in May
https://www.proactiveinvestors.co.uk/companies/news/1012566/ftse-100-falls-as-stubborn-inflation-fuels-prospect-of-further-rate-rises-1012566.html
Hi Sotolo,
Sorry to learn about your health issues, really hope that you are able to get things sorted asap and that your house project doesn't suffer too much, although health is always a priority!!
Also don't worry about Hoch , most likely more to this than meets the eye. they are just like so many other miners only tell their shareholders half the facts,
Tibbs
until earnings.
No longer with gaps but the peak in gold is in for the time being. Gold weak season usually starts in May and can last to late July. We have lost a tailwind from heavy jewellery buying that helps in other parts of the year. Corresponds quite often on the awaited India monsoon season.
Morning Sotolo,
One often finds kindness and support in the least likely of places.
Sorry to hear about the medical issues and good luck to you and yours.
Very best wishes,
Prof
Equities in Europe mostly stood flat in the premarket on Wednesday ahead of the newest batch of economic reports, this time on inflation and producer prices in the United Kingdom and construction output in the Eurozone.
The DAX rose by 0.09% at 7:13 am CET. At the same time, the FTSE 100, the CAC 40, and the Eurostoxx 50 all stood flat.
The euro stood flat against the dollar at 7:18 am CET to sell for $1.09674. At that moment, the pound sterling lost 0.06% to the United States currency to change hands for $1.24177.
Baha Breaking News (BBN) / JR
Happy hump y’al
Apologies, I seemed to have overlapped the c&p.
A ”Miner” detail with such an overdue heads-up on the sector and the company.
Perhaps gold is gearing up for interest rate cuts as wrecked government finances and bloated debts limit how far central banks can tighten policy without doing serious damage, either to the economy, financial markets or both.
Perhaps it is no more than a flash in the pan, if you will pardon the expression, but it will be interesting to see if gold mining executives are ahead of the game and being shrewd with their latest round of consolidation or not.
We will stick with Centamin, Shanta Gold and Resolute Mining.
Questor says: hold
Ticker: CEY
Share price at close: 105.7p
American gold miner Newmont is Among the few remaining UK gold miners, Chaarat Gold took a look at Shanta Gold last autumn, and although nothing came of that it did suggest that someone, somewhere thought there was value on offer.
Sceptics will dismiss this as an attempt to manufacture growth and momentum where little or none exists, since gold output grows only slowly and the all-in sustained cost (AISC) of producing gold is rising, in no small part due to surging energy and staff costs (trends that rather dent gold miners’ perceived status as a hedge against inflation).
Gold bugs, however, will argue that the proposed Newmont-Newcrest deal is simply further evidence that gold company executives see value that the stock market is overlooking.
The price of gold is up by 32pc since the start of 2020, but the NYSE Arca Gold Bugs index, known as the HUI, is up by just 12pc over the same period – and all of that gain (and more) from the index hails from the rally seen since Jan 1 this year. now getting busy again. It first bid for Australia’s Newcrest in February in an all-stock deal that valued the target at $17bn (£13.6bn). The would-be buyer has now increased its all-paper offer to $19.5bn. That price tag puts Newcrest on almost 1.7 times historic book, or net asset value. The major, US-listed producers trade on 1.5 times and London market’s gold diggers at 1.1 times – with Centamin, Resolute Mining and Shanta all trading at 1.2 times.
In many cases, the US-listed miners and producers do look to offer greater scale (and lower all-in sustained production costs) than their British-listed equivalents, but the relative valuations do look to at least partly reflect that and also the differing jurisdictions in which the miners operate.
Gold bugs will also argue that junior miners can offer greater leverage into any upside in gold prices. Shares in the aforementioned trio are putting on a welcome spurt, even though we have paper gains on only Shanta and losses on Centamin and Resolute Mining to show for patient support so far.
Even though the prevailing rate of inflation is slowing, at least in America, gold is having a good go at forging and sustaining a break above $2,000 an ounce. Perhaps oil’s fresh gains, in the wake of Opec’s unexpected production cut of early April, is stoking fears of a 1970s-style second wave of inflation (the first followed the 1973 Yom Kippur War and the second the deposition of the Shah of Iran in 1979, both of which caused crude prices to spike).
Questor share tip: the price of the precious metal is up 32pc since the start of 2020
Regular readers may find this column’s ongoing interest in gold and gold miners rather wearing, especially if they share Warren Buffett’s opinion that the precious metal is essentially an inert, useless lump that an alien invader would dismiss as worthless were they to trip over an ingot upon their arrival from outer space.
A dodgy record in spotting gold mining shares that go up in value may also breed understandable scepticism.
But Newmont Corporation’s decision to increase the value of its offer for fellow gold digger Newcrest Mining does catch the eye and suggest that some UK-listed precious metal producers could yet represent some value for patient portfolio builders.
Whenever a major piece of merger and acquisition activity is announced, the single most important items of information are the price paid and the valuation implied. This is because they can determine whether the buyers or potential sellers are getting the better part of the deal and also whether the shares of peers in the same industry or sector are looking cheap or not.
The gold mining industry has been busy in this respect. Barrick Gold swallowed up Randgold Resources and Newmont snapped up GoldCorp in 2019, while Agnico-Eagle and Kirkland Lake Gold merged in 2021 and Agnico-Eagle and Pan American Silver have just finished buying and divvying up Yamana Gold.
Among the few remaining UK gold miners, Chaarat Gold took a look at Shanta Gold last autumn, and although nothing came of that it did suggest that someone, somewhere thought there was value on offer.
Sceptics will dismiss this as an attempt to manufacture growth and momentum where little or none exists, since gold output grows only slowly and the all-in sustained cost (AISC) of producing gold is rising, in no small part due to surging energy and staff costs (trends that rather dent gold miners’ perceived status as a hedge against inflation).
Gold bugs, however, will argue that the proposed Newmont-Newcrest deal is simply further evidence that gold company executives see value that the stock market is overlooking.
The price of gold is up by 32pc since the start of 2020, but the NYSE Arca Gold Bugs index, known as the HUI, is up by just 12pc over the same period – and all of that gain (and more) from the index hails from the rally seen since Jan 1 this year.
Merger activity among gold producers suggests UK-listed miners could still glisten.
https://www.telegraph.co.uk/investing/shares/merger-activity-gold-producers-uk-listed-miners/
*Like a spark of fire in a cargo of cotton.
Bushy
Sounds like you should get the yacht out of the garage and sale the Med for a few decades. Dont worry about the internet or mobile coverage, you are beyond that sort of caper
Good luck to you
Always interesting to read the news on what passes for a political system in the US. Vote rigging and influencing is the news worthy items now (always been that way?), and who better to get into a stoush than dear ol' Rupert and his cohorts, and those that worship money and political power.
Fox settled a defamation lawsuit by Dominion Voting Systems for $US787.5 million ($1.2 billion), averting a high-profile trial putting one of the world’s top media companies in the crosshairs over its coverage of false vote-rigging claims in the 2020 US election. In February court filings, Dominion cited a trove of internal communications in which Mr M and other Fox figures privately acknowledged that the vote-rigging claims made about Dominion on-air were false, like so much else, including the construct of their financial system, which is built firmly on hot air, but I wont go there today.
Whether a settlement is really a final settlement with Dominion is complicated by an almost identical lawsuit by a second voting machine company, Smartmatic, claiming $US2.7 billion damages. That’s $US4.3 billion at stake, even before any punitive damages. Go for it guys !
Murdoch faced what would be the biggest threat to his empire since the 2011 hacking scandal, oh how could we forget that? Murdoch’s legacy is at stake(and what a legacy it is?!) Unlike the UK hacking scandal, where News executives were blamed, records show Murdoch was directly responsible for Fox News management, at least on paper...
How did it get to this? The panic that seized Fox News after Donald Trump lost the 2020 election produced a series of editorial decisions by line managers and hosts that now appear short-sighted, sometimes mind-numbingly dumb and in hindsight entirely unnecessary. Anything new here..or newsworthy?
The business models seemed to be to focus on the "popular" news, which got the masses in, giving him the power of influencing the masses. It is the masses that vote of course, and this attracts the people who the masses vote for, and hence the power was in the influencer, sadly...and so on...
Great to see him and his coohorts face some form of justice, even bankruptcy, .... and the world would be a better place.
farcical really, they could do so much better
...
Still not sold again Sotolo.. You must be up to 8 times now for watching it go up and down without doing anything? Well done you absolute winner.
And now you've got something else to perpetually moan about I see. Never mind it might work out well for some of us in the end then after all.
Thanks Sotolo for the kind words and hope the best on your medical issues.
Sorry to hear of your or families medical problem.
Best wishes for an end to that.
Thanks Prof, Bushy has been equally unpleasant over on the Hoc board but I have to say that there like here other members have been most decent and supportive, touchingly so after a very hard medical week, (which might use up the house money so maybe lucky couldn't build due to key collapse) giving one faith in humanity. Most people are decent, particularly on this board but also on the smaller Hoc. The Hoc results are delayed by two months finally out on Thursday which is scary.
Not so sure about good Chinese gdp numbers, I was expecting more of a positive POO reaction.
Metals today might have been positively affected on the up by a negative views on Goldman Sachs financials, kind of the opposite of yesterday JPMorgan's.
Any short views on POG from here....Thursday US Initial Jobless Claims and Philadelphia Manufacturing Index, may still keep POG upside capped imv.
Day RSI still making a sell signal.
Yep LuckyLuciano- they've a tight, aggressive timeframe and target.
Spot on chaps and Spot and Comex up up and away today. Longer term we could be rising for a while yet!
Good divis too longer term with cheaper energy costs from Solar power.
i