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Mr T, i challenge you to instead of regurgitating mindless fantasies that you look at reality.
Despite mistakes of previous management I cite gold mined profits made, dividends paid &:cash reserves accumulated - facts!
What can you say about demonstrable, factual accomplishments of current management?
The good news is the gold discovered by the much maligned previous management remains in place, the capital accumulated by the much maligned previous management (albeit inefficiently eroded) remains in place, all we need is current management to exploit the resource that they have been handed - so far we have got nought!
Spoonington, not so far but we live in hope
The real question remains “has Horgan accomplished anything apart from the erosion of capital built up from the operational achievements of previous management” - I will leave it to the board to ponder that conundrum :)
Hi Bob,
I should have thought Russia's central bank would have considered this?
Good points though. I will see if I can find out, will raise your points with Andrew.
Kind Regards
Tibbs
Hi Bob,
Re "short term momentum traders , scalpers, et al but probably bore this board into delirium or catatonic dementia."
Interesting comments, for those who may wish to have a look such a forum
https://www.trade2win.com/
Kind Regards
Tibbs
Hi Tibbs
Unfortunately for Putin the ability to requisition and have a lien on gold by sell or purchase whereby a label is added to a gold in a Western vault is no longer available as a source of dollars. He has to physically supply that gold in exchange for currency or goods, How is he going to be able to establish an alternative trading platform where physical delivery is the stable floor and a trusted system of exchange. Pie in the sky I am afraid. Kremlin propaganda at its futile worst.
Kindest regrds
Bob
.
Thank you Tony,
Confirmation of what Andrew Maguire was implying!
https://www.gold-eagle.com/article/sharp-gold-pullback-healthy
Hi Tornado
Forgot to add , these factors have a self fulfilling prophecy
Bob
Hi Tornado
Not at all surprising. Major players have a minute by minute appraisal of the market and make decisions in millions if not trillions on factors arising at that time scale. Private investors do not and cannot operate on that basis and can only make decisions on the basics. Their is no long term thinking or action in the market and especially in this geopolitical and fragile economic environment. The less time that an investment decision is at risk the longer that individual will survive in a dog eat dog world.
The basics of course will like cream come to the surface ,
I could go on about short term momentum traders , scalpers, et al but probably bore this board into delirium or catatonic dmentia.
Kindest regards
Bob
USA Job number Labour stats
The BLS’s underlying raw jobs data actually showed a record 2,505k US jobs lost during January! An epic 3m+ job seasonal adjustment was applied to get that +517k headline number, literally conjured out of thin air in bureaucrats’ spreadsheets. Neither the dollar nor gold should’ve reacted on that fiction.
FX Action Sees Gold Price Diverge in Dollars, Euro and Pounds as Inflation 'Guaranteed' to Fall
Thursday, 2/09/2023 13:55
CURRENCY CROSSES led changes in gold bullion prices on Thursday, with gold rising in Dollar terms, steadying in Euros, but slipping back in UK Pounds.
Reaching $1881 per ounce – an 8-month high in US Dollar terms when reached in early January, and some $20 above Monday morning's low – gold bullion for London settlement traded 4.0% beneath last Thursday's spike near $1960 following the Federal Reserve's widely-expected 1/4-point rise to US interest rates.
But with the Dollar slipped on the FX market, Euro gold prices meantime held flat around €1747 per ounce, matching the precious metal's then-record high of summer 2020's first-wave Covid Crisis but still 8.1% below last March's fresh all-time spot market high of €1902, reached after Russia began its on-going invasion of Ukraine.
In contrast, and with Sterling rising sharply on the forex market, the British Pound gold price today fell by 0.6%, dropping £10 to £1546 after officials from the Bank of England assured lawmakers in Parliament that inflation running at 4 decades highs is "almost guaranteed" to fall sharply in 2023 from its current double-digit pace.
"I do think we have turned the corner," said BoE Governor Andrew Bailey to MPs on the Treasury Select Committee, pointing to the " powerful downward forces on inflation" due primarily from the year-on-year drop in energy prices following last winter's Russia-Ukraine surge.
However, and having hiked the Bank's key interest rate by 0.5 percentage points only a week ago, Bailey was quick to add that he is "still concerned about inflation persistence."
Last week, and alone among major currencies outside the Indian Rupee, the UK gold price in Pounds per ounce set a fresh all-time high, peaking at £1592 per ounce.
https://www.bullionvault.com/gold-news/gold-price-020920231
Hi Bozomurky,
It's frustrating, but that's how they make their money, churning the markets indices up and down with innuendo and spin , but then those running the casino have all the advantages, like access to information two day's before everyone else, the MM have access to the "Book" and remember they can see all the stop losses, so they really are no safeguard!
Always better to get things off your chest though, the house has all the advantage over us!
Excuse my ignorance but, given how long it has been happening, why are there still individuals/institutions who are still happy to drive the price of gold up prior to the Americans selling paper gold at 2.30ish (UK afternoon)? I REALLY don’t get it! Probably the same reason I keep holding CEY, SHG and FRES…guess I’ve answered my own question…so perhaps I do (whilst admitting I’m dumb). Thanks for listening.
Taken a few here on the basis the stock is materially oversold, the RSI is the lowest it has been since Q3 2021 - it has fallen from 81 in early January to 28 today.
Time will tell.
My today point to ponder ;- Sadly I find a high persentage of nonsensical bla bla on chat rooms posted the last few years. Factual , relevant ,up to date info of the stock cey is absent in many posts. Hopefully Quality posters who DYOR may come to the fore in time . It's NOT an art to Criticize , the art is the oposite to criticize atm. with a balanced view..... will greatly assist . ;-)).
As always ,
Happy Trading and DYOR
Buck
pipedreamer it's only what I think but I reckon another spell in the 90s is likely, particularly after Q1 results on April 20. If that does happen I will be loading up as I think Q2 & 3 will be much better, just like last year.
Alasdair Macleod sits down with Andrew Maguire to investigate Russia’s plans to devise a gold and commodity-based replacement for dollars as a new trade settlement currency.
The famed economist prognosticates the return of sound money as the ingredient for a new, Asia-wide industrial revolution, while the western financial system continues to decay in line with the accelerating debasement of fiat currencies.
https://www.youtube.com/watch?v=B0wsJ3tyaSk&t=26s
Fair comments, oil companies using Ukraine as excuse to exploit customers and central bank trading cartels using Russian sanctions as excuse to manipulate and suppress POG!
After over a decade of broken promises missed guidance and bullshi(it presentations I have become cynicle to say the least!
Hope you are right 3 Bear!
Tibbs!
"This stock now is an established unpredictable and unreliable stinker and at present as you rightly point out has become ideal for trading!"
I think the current management are doing a fantastic job. They sensibly budgeted 60c for diesel but it was 90c because of Ukraine, costing an extra $60million. Yet they still brought the AISC in under 1400 for the year, within guidance.
What we are seeing now IMO is a prolonged reaction to the FY results and the sobering realisation that heavy investment will continue at Sukari for the foreseeable.
This is not dead money, even the waste stripping is an investment that will improve access in the pit and result in consistently higher production.
I believe the fundamental benefit of all this investment will really start to show from the Q2 results onward. So in short it's hurry up and wait, there'll be jam tomorrow. Promise.
Here or at 90p
Steve,
Th e mistake I made in the past was to give the benefit of the doubt and trust in the in the integrity and professionalism of the management by believing they were telling the truth, they weren't!, they knew what they were up to and they had the advantage of knowing when to get out , this sis why Josef decided to fill his saddle bags ride off and take a back seat and why Youseef sold his shares to invest in real estate, something I pointed out at the time to Centamin, although all they admitted was iYoussef's actions didn't give a good impression!
This stock now is an established unpredictable and unreliable stinker and at present as you rightly point out has become ideal for trading!
Where are the results on these new Egyptian concessions, are they even worth mining, who knows despite all the work including helicopter surveying done this far?
I doubt any company in their right mind would bid for this now, Due Diligence might well be a stumbling block, again!, but if they did and the share price attracts a decent premium all the better!
Hi Sotolo,
Re - "Personally one of the great attractions of Cey under the previous management is they didn’t plough lots of profit back into the ground but gave it to us even if the collapse may have been a bit of a result" ??
Unfortunately the last management wasted millions upon millions drilling holes in West African projects on pie in the sky projects that were poorly managed that could have been better spent, for instance running Sukari properly!
What ever heppene tio the Cleopatra slope
Sotolo- CEY is a great trading stock. For me, there are lower risk, better performing stocks available for dividend strategies and mining stocks too risky for dividend reliance for me, but each to their own. Dividends can be axed anytime, and then you're stuck with a low capital pot in this case. The mining stocks have a big risk of negative high impact news (those holding have had quite a few nasty "07:00 RNS wake up calls" over the years.). 50% profit loss is way more than any benefits gleaned back eg corporation tax, and remains a a great deal for Egypt. Comparing other miners depends on which ones you pick. As a trading stock, however, it's highly volatile and no stamp duty, and has core drivers, gold and stock markets which in turn are driven by economic factors moved on daily data so good. If you bought in 10 years ago for example you would have been OK (although poor compared to the s and p 500, property, many others stocks and other lower risk investments). If you cherry pick other timeframes for example… 13 years ago bad, 2.5 years dire... so depends which timeframe you pick- as this share is so volatile. Also, as a UK tax payer, I get whacked with tax on any dividends I receive too, unless in SIPP of ISA of course...