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Major European indexes rose in premarket trading on Monday as world leaders started arriving in Bali for the G20 summit. The two-day event is set to officially start on Tuesday, but a meeting on the sidelines between American President Joe Biden and his Chinese counterpart Xi Jinping is scheduled for later today. On the data front, investors are awaiting the industrial production report from the Eurozone.
The FTSE 100 added 0.19% at 7:13 am CET, the DAX was up 0.26% and the CAC 40 increased 0.31% at the same time.
The euro fell 0.46% against the dollar to sell for 1.03102 at 7:15 am CET and the pound slid 0.73% compared to the US currency to go for 1.17574 at the same time.
Baha Breaking News (BBN) / NP
Happy Monday y’al
What is amazing is the strongest Fiat currency is the one loaded with debt, founded in social unrest and polical division and led by the military which has lost every war it has fought in for the last 3 or more decades. The holy US$
If logic has a place int the financial system (no guarantees here of course), the US$ is overpriced, will not remain so as it is no ones interest that it is this strong, and so in all probabilities the most likley out come will be that the value of the dollar will decrease. We are at PEAK DOLLAR. It would follow the price of gold in the US$ terms is likely to increase.
This is the bet I have placed, so lets see...
the gnome
3bear exactly and as I say I don't see110,000 to 115,000 ounces as good news rather I see it as a poor sorry a very poor 3 - month production figure and will need some detailed explaining. 12,000 ounces or 17,000 less than last qtr. is the equivalent over a week or close to two weeks loss of production ounces.
Given that production guys work to lost minutes or percentages of an hour, not days and certainly not weeks, it is difficult to understand, what "problem" takes one to two weeks to correct.
Has in the past been blamed on cutbacks but they have a fleet of equipment dedicated to moving waste in addition to their own fleet.
DASUT 125,000oz would be great, my sentiment is right with you, but I feel Horgan's guidance during the Q3 presentation was for 110-115,000oz next time - AISC is still going to be $160million-plus so we're not out of the woods quite yet but certainly heading in the right direction?
Sotolo agreed currently SP following GP so what we need is some good news from Cey over the coming month or so. Mid- range production performance I don't feel is good news. This would presuppose less than 120,000 ounces which is down on third quarter numbers, and this is going in the wrong direction, and I don't accept that a possibility of reduced underground production should impact that significantly.
Given the additional fleet of equipment moving waste the mine should already be far more flexible and accessing different areas with multiple benches bringing about a more efficient mine and hopefully higher average grades.
It is so important to get the strip ratio down hopefully one day in the not-too-distant future below or close to 6:1, which will basically mean Capital's contract has finished, now that would be good news and if coupled with close to 125,000 ounces in 4th quarter and predictions for next year for 125,000 ounces or above per quarter therefore the magic 500,000 ounces pa, we would be back on track.
So, as I say Sotolo agree that we need a more efficient predictable consistent mine together with a strong gold price.
Also, would be useful to see a strong set of numbers for Doropo.
So, no pressure Mr Horgan.
Not sure about zero diesel and zero carbon because all of their work tools such as drills, trucks, loaders, dozers, graders etc are all powered by diesel engines. can they burn alternative fuel maybe, what affect would this have on performance and productivity, not sure. Certainly, worth a watch to see what develops.
Sold at 86p a few weeks ago on the basis that more inflationary pressure would drop gold.
I hope all those with better judgement than me are enjoying themselves!
An older colleague who was approaching retirement some years ago had a phrase he used when things were going well. "We're in the pound seats now," he'd say. It was learned from his father and referred to the best seats in the local cinema, front row middle of the dress circle (!) which, when his dad were a lad, came at the unimaginably high price of one whole pound sterling per seat.
Since my grumble on Q3 results day the SP is up more than 25% and is in the pound seats, sort of. Let's hope it has further yet to go.
European indexes rose in premarket trading on Friday amid a global rally prompted by the better-than-expected United States inflation report and China's decision to ease COVID measures in the country.
The FTSE 100 added 0.38% at 6:47 am CET, the DAX jumped 0.85% and the CAC 40 climbed 0.79% at the same time.
The euro gained 0.35% against the dollar to sell for 1.02322 at 7:08 am CET and the pound added 0.06% compared to the US currency at the same time.
Baha Breaking News (BBN) / NP
Happy Friday y’al
Enjoy your weekend.
*Is this not a ‘Sales Brochure’ for Sukari to any gold mining CEO.
Centamin’s solar system and eventual connection to the national grid (zero diesel, zero carbon) is bound to have any serious CEO salivating.??
https://www.miningmx.com/news/gold/51083-centamin-may-tap-into-egyptian-power-grid-in-order-to-end-diesel-fuel-reliance/
Lol Mr Bond :-)
Ditto. I'm more of a macro/data guy
Of course I do not agree with many your posts, so take that as a compliment.
;-)
Oops I, of course, meant top and drop
Well, I hate self promotion lol, but I have been predicting too and drop of inflation and how positive it would be and look today after data release- S&P up 5.53%, nasdaq up 7.35%, dow up 3.69%, gold up massively, barrick gold and others in usa up. This is why I don't follow charts but data points... and only follow RNS from cey rather than lots of detail on mines etc which never amounts to sp changes...
Sotolo yes, I agree especially with your final sentance.
Maybe the slowdown in production ,due to clearance, by accident or stupidity may work well for the profitability.
Production set to increase with a better price for the product.
Needs gold to continue rising ,how high ,who knows.
But some are predicting, back to 2200 plus.
Patience ,you may well get back to a few years ago.
Good luck.
I think Centamin has just had a golden cross with the 50 day moving ave going through the 200 day, exciting times if we could just combine rising gold with a recovering company
It is because the fed will become more dovish, less interest rate hikes - so good for gold. Drivers are different dependant upon combining many factors...
The prices of precious metals advanced significantly on Thursday, with those of gold and silver increasing by more than 2% and 3%, respectively.
The move followed the report on the annual inflation in the United States, which showed a figure lower than the previous month and better than analysts predicted. The result caused a rise in market indexes in the US and Europe, as well as in the prices of oil.
Gold advanced by 2.31% at 9:46 am ET to sell for $1,744.06 per ounce. Silver went up by 3.38% to go for $21.73 per ounce. Platinum surged by 4.49%, selling for $1,032.40 per ounce. A minute later, palladium grew by 1.76%, going for $1,900.52 per ounce.
Baha Breaking News (BBN) / JR
Hardly surprising as Gold is at 1737 as I write.
Good Luck all LTH.
Patient people.
We live in a funny economy where less inflation is good for precious metals
BOOM! Check your stats- like I've been saying and boring you all for months, top and drop...
June 2025 gold futures selling at us$1880, and June 2028 us$1990 Gold (NYM $/ozt)
The futures look very rosy for gold, no futures I can see in the WSJ NY market lower than current price.
https://www.wsj.com/market-data/quotes/futures/GC00/contracts
There are some shudders going through the market, with Meta laying off 11,000, Redfin has tied up hundreds of millions of dollars in houses that ‘you yourself wouldn’t want to own right now.’ and as a consequence has laid off 13% of theri staff, and crypto melted down again and may finally be discovering the fundamental flaw of trying to build an alternative to government-backed finance: no government backing.
and of course, Goldman Sachs Group Inc. promoted 80 bankers into its partnership on Wednesday, the biggest class since Chief Executive David Solomon took over in 2018, almost guarantees a salary of $1m +, so happy to see the Goldmans group happy and relaxed! The class battle continues in the USA, and can only see social unrest in the future,
The midterm elections in the US has not quite turned out as predicted, but probably enough in it to coax Trump to run again for President?
A memo for the record was released in USA, on conversations with President Cheney: and VP Bush Ezra Cohen, chair of the board, said the declassification of the historical record was “an important step towards additional public transparency.” https://www.archives.gov/files/declassification/iscap/pdf/2012-163-doc-1-release-material.pdf
Interesting read, for those interested in "history"....some of the first steps toards the invasions of Iraq, Afghanistan, Libya, and the destabilisation of Syria.
You do have to have a sense of humour about things !!!
Here's hoping... :-).
"With no final results yet available from the U.S. mid-term elections, in focus later on Thursday will be inflation data which is likely to show a slowing in both the monthly and yearly core numbers for October, according to a Reuters poll.
That may lead the U.S. Federal Reserve to reduce the size of its planned interest rate increases, which would be considered positive for economic and oil demand growth."
European stocks declined in premarket trading on Thursday as investors awaited an array of corporate earnings, including reports from AstraZeneca and ArcelorMittal, as well as the latest inflation report from the United States due for release later in the day. Elsewhere, the US midterm election remained in focus with the final outcome for both chambers of Congress yet to be decided.
The FTSE 100 fell 0.48% at 6:57 am CET, the DAX lost 0.45% and the CAC 40 was down 0.48% at the same time.
The euro added 0.25% against the dollar to sell for 1.00357 at 7:02 am CET and the pound gained 0.52% compared to the greenback to go for 1.14092 at the same time.
Baha Breaking News (BBN) / NP
could be difficulties keeping up production**
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Chamber of Mines of Burkina Faso
3,268 followers
13h • 13 hours ago
To date, four mining companies are at a standstill, mainly due to the security situation (with the exception of the Perkoa mine). Several others are experiencing difficulties in their supply processes.** This represents between 2,000 and 3,000 direct jobs at risk and revenue losses for the state of nearly 25 billion CFA francs.
Gold production, Burkina Faso's leading export product (83.7% of export revenues in 2020 - EITI 2020 report), has been declining since January 2022 (-13.4% in August 2022**).
https://www.linkedin.com/feed/update/urn:li:activity:6996035307829612544