Ben Richardson, CEO at SulNOx, confident they can cost-effectively decarbonise commercial shipping. Watch the video here.
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Latest .Fed needs a recession to win inflation fight, study shows.
Backs against a wall, much higher job losses or try to beat inflation.
Not many choices , Gold should benefit.
The real problem is how do western economies expand the workforce as the shortage of labour is what fuels inflation. Perhaps more support for childcare, having hospital waiting lists shorter for those needing to get back to work, training people to fill vacancies, relaxed immigration rules, better trade agreements between countries, effective measures to protect against future climate change, supporting more artificial intelligence solutions and robotics, supporting better approaches for independent living that would otherwise consume more human care time. At present very little is happening especially in the UK. Inflation is entering a new era and its driver in a background of changing demographics is the shortage of labour. High interest rates by themselves won't cut it. Boom and bust is a nightmare to invest in. It only creates short term traders.
Wall St slides as inflation data fuels FED worries.
You can fool most people most of the time ,but not all the people ,all the time.
Russia’s Cyberattack exposes U.S 2 Quadrillion dollar dilemma
Andrew Maguire reveals the widely unreported details of Russia’s ransomware attack which has disrupted the CFTC platform, causing a month-long delay in their weekly COT Report submission.
The London wholesaler points out the magnitude of risk this cyber attack poses to the financial sector, explaining the effects of currency weaponisation in the deepening geopolitical conflict between the West and Russia.
https://www.youtube.com/watch?v=PXCpck8Xh14
Yes, but in a volatile world and even more uncertain stock market, it’s only the low return, safe bets that allow you to sleep at night, if you withdraw significant funds, best to wait for a robust business to hit the buffers temporarily and swoop, in turn make money on its way back up.
This results date is the same date as last year but last year they also announced the dividend declaration.
“16th Mar 2022 7:00 am RNS Dividend Declaration”
Major European stocks were muted during Friday's premarket session as the world marked the first anniversary of the conflict between Ukraine and Russia, with key western leaders scheduled to hold press briefings throughout the day.
On the economy front, the last trading day of the week will be marked by consumer confidence data from the United Kingdom and Germany, as well as the final data on the state of the German economy.
The DAX, the FTSE 100, the CAC 40 as well as the Euro Stoxx 50 all stood slightly in the red territory at 8:04 am CET.
Both the euro and the pound traded unchanged against the dollar at 7:45 am CET to sell for 1.06013 and 1.20203, respectively.
Baha Breaking News (BBN) / ND
Happy Friday y’al
Enjoy your weekend!
“Centamin will announce its audited financial results for the twelve months ended 31 December 2022 on Thursday, 16 March 2023.“
Whatever spare cash you have in a Bank earns no interest, that will continue .
So buy a valued commodity that for thousands of years has beaten any inflation.
Do you hold ant physical Gold currency ,of legal Tender in your country, as a safe guard against inflation. It cannot be confiscated as in the 30s , gold bars can -
Tell half fthe world it is completely useless .The East.
Most Banks even in the West ,they are buying whatever they can .
Thanks
I think the prediction interms of future value is right, the timing is wrong.
regards
the gnome
Pierre Lassonde predicts $200 oil and $2,400 gold in a month as Putin’s war drags out
Feb 28, 2022
"The longer it lasts [Putin's war] , the more profound the impact is going to be, particularly on the energy market. If this goes on for two, three weeks, a month, I think you’re looking at $200 oil, (and $2400 gold ) full video here: https://www.youtube.com/watch?v=Z7ulPlxXaDs
------------------------------------>>>>
So the question for us examining the past is why didn't Mr Lassonde's (and most every other gold bug) prediction of higher gold $ come to pass. Some possibilities:
a) there just isn't as much popular demand for physical as we imagine
b) market manipulation (certainly happens in crypto)
c) the market is always right - gold is where it should be given supply and demand
d) ??
If the answer is 'c' then perhaps undiversified mining companies (single commodity) do not have the smartest business plan at work.
I welcome other thoughts , comments and angst filled comments
This is the best summary explaining the nuances. It matters not when, if it's the latest info view, which it is.
https://edition.cnn.com/2023/02/23/economy/gdp-revision-us-economy
Those figures were from Q4 ,pre christmas.
With possible amendments to be made.
According to Kitco.
Amendments are a very useful tool for massaging the outlook .
Well I hope so Tony- some of the other figures weren't showing much slowdown. It's a tight one at the moment.
And yes, that was good.
Steve the figure that caught my eye was the drop in consumer spending. USA economy is all about the consumer and I wonder if that will keep any interest rate rise to 0.25%.
Not supportive of gold i think
Fair Comments Somnama,
Most of these mining conferences are a big "Jolly" for those that attend and an opportunity for some overpaid greedy parasitic CEO's to spout copious amounts of what they know to be unachievable promises in order to reel in gullible, and even trusting investors to raise funds for keeping no hope projects going a bit longer!!
Martin & Ross have likely realised this and are quite rightly getting on with the job of turning Centamin around into he company that has often being promised in the past, but never delivered!
Its actual, measurable and delivered results that are needed now!
Endeavour didn't take us as you put it because they were unable to execute the due diligence precess fully , ell now we know why there was the pile of crap at Sukari and the less than commercially viable West African asserts , which did make a nice little earner for he drilling companies some of which Pardey had close ties with!
Then of course is "Seb" to be trusted , Endeavour’s Centamin merger bid faces new setback as French officials launch corruption investigation into CEO
https://enterprise.press/stories/2019/12/09/endeavours-centamin-merger-bid-faces-new-setback-as-french-officials-launch-corruption-investigation-into-ceo-8004/
- The AISC cost does not cover ALL cash outlays required to keep mining. See my note. An important component is hidden by classifying these as “growth”.
Use the suggestion at the end of the note to be able to compare the relative performance of companies. Centamin stands out as one of the few companies that consistently generates positive cash flow and able to pay dividends. What has Endeavour done? Lately the company is doing very well, but the table below is for the period 1 April 2008 and 30 March 2019, which is extracted from working notes in a company valuation. Horrible history.
Endeavour Mining Corporation
Financial Performance From 1 April 2008 Until 30 March 2019
Year Ending 31 Dec 18 months 2010 2011 2012 2013 2014 2015 2016 2017 2018 Q1 2019 Totals
US$'000
Ore Mined 467 2,876 3,228 4,366 6,713 6,898 7,554 11,086 9,597 1,285 54,070
Waste Mined 40,252 46,435 53,003 46,451 9,707 195,848
strip ratio 5.84 6.15 4.78 4.84 7.55
Total Milled/Stacked 467 2,496 3,307 4,211 6,304 7,171 8,383 10,791 9,948 1,815 54,893
Grade 3.09 2.23 2.26 2.62 2.48 2.40 2.25 1.90 1.59 0.98 2.10
Contained Gold 46,400 179,149 239,867 354,145 502,001 553,183 606,770 659,263 510,145 57,169 3,708,091
Gold Produced 44,407 163,769 210,209 318,143 465,770 516,646 559,190 593,815 450,140 56,648 3,378,737
Cash from Operations -11,179 -8,548 93,374 43,834 127,438 147,301 153,899 221,791 250,920 22,916 1,041,746
Investments 83,640 -145,347 -180,226 -148,556 -112,881 -7,306 -180,177 -478,728 -453,319 -109,857 -1,732,757
Financing -28,083 102,658 77,131 71,642 -27,166 -91,743 41,999 251,741 204,467 47,452 650,098
of which Equity 579 2,706 6,012 2,720 73 0 185,285 107,755 -1,356 238 305,130
Effect of X-rate 1108 -784 344 504 1,464 -912 -944 3,604 -748 -499 3,137
Change in Cash 0 45,486 -52,021 -9,377 -32,576 -11,145 47,340 14,777 -1,592 1,320 -39,988 -37,776
Cash at Year-end 167,300 115,279 105,902 73,326 62,179 109,519 124,294 122,702 124,022 84,034
Fair comments andobservations Paul!
As you imply Ocado price overblown based on analysts spin and bullsh*t, rather like the Centamin of the past built up on Pardey & Youssef's "Pie in the sky"which we were willing to believe, but then why wouldn't we, they were after all supposed to be professionally competent, posses integrity and to be acting in our best interests, they weren't , they conned us and a lot more other people besides!
What good market regulation, no use to the likes of us it's all a farce, the market is run for the benefit of the market by those in the exclusive inner clubrooms!
Kinesis & Basil 3 should and could have changed things for the better, unfortunately those of the inner club that control the markets only abide by the rules of fair play when it suits their best interests with the acquiescence of the government and the toothless regulator!
You mentioned "Boo Hoo", wouldn't touch it with a bargepole, "Sh*thouse" outfit, lousy employer, sources its clothes from sweatshops that abuse their workers and in reality is he leftover of asset stripper and king of stinkers "Sir Phillip green", what happened to him, bugger all!
https://www.standard.co.uk/insider/sir-philip-green-bhs-arcadia-marks-and-spencer-topshop-metoo-b83016.html
Kind Regards
Tibbs
Apart from Martin and Ross its a jolly.
Even then should apply the investment test on if it is worth them going.
We know that shares can go up and down. We seen the highs of £2-30 here with the prediction of shortly going over £3. Weve seen both Hoc and Ths tipped, and the rise and fall. Weve seen Ocado go near £30 (£30!!!?) and fall. Weve seen Siriaus rise and fail. I think there was someone on here about 18 months ago when we were at a similar price, going on about going into Boohoo at £1.05 and they are around the 50p mark now.
A few of you people are working or have worked in mining. You invested in and believed? in Centamin. So do you know your business or job? --------or do you think you were taken in and hoodwinked??
People have talked about kinesis and Basle 3 making a difference? Have they?
I dont know about any of that stuff.
My feeling is that if the previous management had kept things slower and steadier, over the years we would have still received the same total dividend over the period, but with a higher share price than now and more confidence in the company. Look at it like the England cricket team--------their average results over the last couple of years. They do not look brilliant on paper. But look at the results since Stokes took over!! Yet is is largely the same players. They have momentum and confidence.
A positive for me is Martin Horgan seems to want to stay in the job. If he left now, I dont think his reputation would be any worse than when he came. People in "the know" probably realise he has had to clean up after what the last lot left him with. I think he is going slow and steady and when things start to improve , it will be positive for the share price as he will have built trust by not over promising.
Having said that, I would still like to see him and other management buy shares on a regular basis.
European stock exchanges traded mostly higher before the markets opened on Thursday after Deutsche Telekom and Eni reported their respective results from the final quarter of 2022. In addition, traders will assess the final January inflation data for the Eurozone, set for release at 11 am CET.
The DAX increased by 0.07%, London's FTSE 100 declined by 0.16%, the CAC 40 rose by 0.18 and the EURO STOXX 50 advanced by 0.26%.
The euro was up 0.17% compared to the dollar at 8:07 am CET, trading at 1.06192. The British pound was 0.18% higher than the American currency, going for 1.20662 at the same time.
Baha Breaking News (BBN) / MS
Gold currently + .40% $1831.76
Tibbs Endeavour shareholders can happily take it as have done so much better than us, up one third in last three years, while Cey is down a third, so if you had moved from Endeavour to Cey 3 years ago then would have double the money compared to staying in Cey boo boo. They were lucky they failed to buy us, and of course if they had we would also have partaken in a bit of success combined with our failure so would be about 150 now I reckon
After all, Centamin is fond to boast its 'workforce' is +95% Egpytian
Regardless, why fly out so many non-essentials to a conference - are these folks so underpaid as to not afford their own warm-weather vacation?
To think I once believed this company understood its priorities. All talk.
And I'm afraid soon-to-be even less of a company in terms of return to shareholders.
--------------------------------------->>>
BMO Capital Markets will host its 32nd Global Metals, Mining & Critical Minerals Conference from February 26 to March 1, 2023 in Hollywood, Florida.
Speakers:
Martin Horgan CEO
Participants:
Alexandra Barter-C**** ; Head Corporate Communications
Sally Eyre ; Lead Independent Director
Ross Jerrard ; CFO
Jim Rutherford ; Non Executive Chairman
Michael Stoner ; Group Corporate Manager
Link: https://www.bmogmm.com/gmm/2.0/company-profile.aspx?id=14637