Ryan Mee, CEO of Fulcrum Metals, reviews FY23 and progress on the Gold Tailings Hub in Canada. Watch the video here.
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I recall only recently when the s&p dropped to almost 3,500 towards end of last the voices were so loud on drop further is obvious lol, when the pound went from ~1.12 to ~1.035 toward end of last year soooo many experts were saying further to go, and were so wrong. And if it crashed from 1.12 to 1.035 where was the press report “pound has rocketed”…. doom also makes better headlines-
And here we go again, lol, more and more doomsayers pop out of the woodwork like Sotolo’s experts the others week on the gold imminent drop- of course, at some point the doomsayers will be right but stay invested in over the past 30years or so and you’ve had smashed all the doomsayers out of the park - they are click bait city lol-
:-) Donald ,of course it is important to understand ,if you can .All sides , and comprehend .
At the end of a friendly meeting in Moscow, President Xi of China told President Putin of Russia that they are driving changes in the world the likes of which have not been seen for a century.
Meanwhile this week President Biden kicked off a Summit for Democracy with $690m funding pledge to democracies all over the world and the European Commission president, Ursula von der Leyen, called on Europe to reassess its diplomatic and economic relations with China before a visit to Beijing next week.
So what changes are President Xi talking about? Who will be running the world in 20 years time? Is conflict between rival powers inevitable? And is the model of western liberal democracy in decline?
https://www.bbc.co.uk/sounds/play/w3ct4q6f
"China's economic might is driving fear in Americans,"
"The bank collapses were bound to happen. I've been saying if the Fed kept up their rate-hike cycle, something would break and it did," says Frank Giustra, CEO of the Fiore Group. "There are more collapses to come. We are seeing the beginnings of a great unraveling," he tells Daniela Cambone at the 2023 Swiss Mining Institute conference.
watch here:
https://youtu.be/JwlcInBrqog
-------------------------------->>>>
not my thesis but I do respect Mr Giustra and his investing success - si it's worth a watch as it's always important to understand all sides of a debate
It is possible some retaleation but becoming increasingl ignored and by passed by loopholes.
It is safe to say sanctions do not work,except against themselves and EEU.
Shooting ones self in the foot.
Even Spain and others are increasing the imports of Russian LPG, for a quarter of the price of US.
Thank you for both for sharing your thoughts guys. Very useful ad helpful.
More specifically, I was thinking more in terms of future retaliatory action by the US against the participating countries which might affect operations, refining, ability to sell the gold etc.....similar to the kind of actions taken against Russia.
I you guys and anyone else in this chat can share your thoughts on this and any other risks related to this, they will be most welcomed.
American economist and financial author, Dr Stephen Leeb, to discuss the sacred place of physical gold in the global history of money.
The acclaimed wealth manager shares his research on America’s accelerating financial decline spawned by the end of the Gold Standard, while at the same time, gold remained the best-performing asset class since the system’s eradication.
https://www.youtube.com/watch?v=sR3thpp0BUk
Hi Dasut,
Absolutely agree the stupidity of this move which was recognised at the time and as you say such a mistake and so detrimental to the operation of the mine, which likely wouldn't have been allowed to descend to be be near on unworkable!
It was case if excluding the experienced to bring in the clowns !
I do not post often these days.
But BRICS is going to be a large player in the future.
The middle east oil cartel ,OPEC states, will eventually all join.
Of course the westerners not.
Egypt will choose what they perceive good for themselves.
I see no problem for Centamin.
It is solely a trading alliance, and alternative ,which cannot be ignored .
Tibbs yes total nonsense and Trevor got stuck in the middle, I thought at the time what a total waste of his experience getting him involved with HR and remuneration. He was/is one of the most respected people in the mining industry and guarantee when he was onboard he would have been a major asset to the company. Unfortunately in time retirement comes to us all.
Centaminstar123
Here's an interesting chart outlining the risk of a 'new reserve currency' rising from among a BRICS coalition
https://twitter.com/BobEUnlimited/status/1641399112183455745
As you can see the % of world currency $ composition is highly stable/polarized :
US 60%
Euro 20%
Yen 5%
UK Sterling 5%
Chinese 3%
Canadian 3%
Aussie 2%
Others 2%
Every country is indebted thru the roof - so at the end of the day it's other factors that determine flight to safety of assets ( i.e. military, technology, political stability )
the BRICS are the last place anybody would look to as a safe haven for assets and it's not changing anytime soon
March 30, 2023
Transitional authorities in Mali will review mining contracts after an official audit of the sector advised that the state was not receiving a fair share of gold-mining revenue, the council of ministers said on Wednesday.
Mali is one of Africa’s largest producers of gold, which is its top export. Companies operating in the country include Barrick Gold Corp and Resolute Mining.
The council said an action plan would be implemented and would include creation of a commission to renegotiate mining deals, a move to repatriate cash earned from gold exports and the adoption of a mining sector environmental code.
https://www.mining.com/web/mali-to-review-and-renegotiate-mining-contracts/
------------------------------------->>>>
Investing in Africa is making less and less cents...
https://tvbrics.com/en/news/egypt-is-looking-to-join-brics/
I am a significant long term investor in Centamin and am a bit concerned about both medium longer term potential impact on Centamin both on their application to join BRICS and the new reserve currency they have in mind.
I am always impressed by the varied and knowledgeable views shared on this forum, even when the parties do not see eye to eye and would very much welcome your views on my question to everyone.
Does anyone else share this concern and what are your thoughts that you are happy to share with us?
Thank you
Paolo
In the title...
Took it's time here last few days, but traction hopefully :-).
Stock exchanges in Europe were mostly green in the premarket hours on Friday with data-heavy day marking the final trading session in March.
Before the opening bell, reports on the UK's gross domestic product (GDP) and house prices will be released. Investors will also be keeping an eye on Germany's retail sales and unemployment rate, as well as statistics on the consumer price index and unemployment across the Eurozone.
The FTSE 100 was flat, while the DAX added 0.17% at 7:41 am CET. The CAC 40 rose 0.19%, while the Stoxx 50 gained 0.07%. The euro was flat against the greenback, changhing hands to $1.08999 at 7:50 am CET.
Baha Breaking News (BBN) / AB
Happy Friday y’al
Enjoy your weekend!
Time passes and the us will become less lmportant .
That is for sure ,unless they manage another war, to keep them afloat.
At the moment they control PMs and money markets.
No use pretending other.
:-)
s time passes the us will become less lmportant .
That is for sure ,unless they manage another war, to keep them afloat.
All the listed precious metals are currently up by more than 2% except gold which is up by .82
I don’t know what way the prices were at close of trading in the U.K. but it’s still looking pretty good as it is
raises Centamin price target to 144 (140) pence - 'buy'
Some good points Mr Bond,
From the huge pile of crap we are now paying to clear I doubt many of the Jersey BOD ever interrupted their seagull watching to visit Sukari!
At he end of the day though all these people all share some responsibility for allowing Sukari to became almost unworkable with the near ruination of the company
hi Dasut,
You may recall this sounds to be a bit of a fiasco!
https://www.glasslewis.com/musical-chairs-centamin-director-voted-off-board-reappointed-immediately/
As to Youssef he wasn't a mining manager his appointment is open to suspicions of family nepotism and considering he was formally an Egyptian police capstan I fail to see how that experience is any way related to such an important role as Sukari general manager which should be a suitably qualified person appointed based on their mining qualifications and experience.
I take the point about a political PR person who again should appointed on their qualifications and experience, a former Egyptian police captain and family member may well leave the company open to accusations of corrupt practice as we well know.
CAIRO — The record of police violations is extensive, ranging from murder to extortion and illegal bribes. While some claim these are individual incidents and that the situation should not be generalized, tedious accounts of numerous violations reveal the dysfunctional role of police in daily Egyptian life.
There is also a widespread fear of physical assault when it comes to dealing with police. Assault and abuse have been common features of the Egyptian police code. Indeed, a large section of society perceives physical abuse necessary to keep the lower classes in their place.
The detainee "needs a few slaps, so he can come to his senses and realize where he’s going!
https://worldcrunch.com/opinion-analysis/corrupt-and-violent-egyptian-police-immune-to-all-revolutions
https://carnegie-mec.org/2016/03/27/civil-service-reform-in-egypt-between-efficiency-and-social-peace-pub-63442
We are where we are because the company had the wrong people in very senior roles for the wrong reasons.
Yes Dasut ,Sami cannot be blamed, his age must be late eighties or early 90 s.
He has probably not visted Sukari in years.
Come to that many others not
Tibbs, Sami got the Pharoah mine started based on his expertise related to the Geology and he built the initial team to be led by his son Josef who wasn't a miner and the team including Trevor Schultz did an excellent job in setting up the mine and many of the initial team I knew quite well and they were a very experienced bunch of mine start up people.
This is what they were the start up team and to be honest they did an excellent job in the early years and Harry Michaels joined them from Geita a then young General Manager who I am sure would if not for his untimely death under the guidance of Trevor Schultz gone on to be CEO.
This is when in my opinion things started to go off track because Josef had to go out to the market to find alternative people and the rest is history.
Don't disagree about uncle Youssef who was as I see it very much a political appointment who may well have been involved in the very early years with Sami to guide the way through the political complexities. Sami was away from Egypt for many years building his reputation in the Australian mining sector.