Roundtable Discussion; The Future of Mineral Sands. Watch the video here.
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to deal with the Bonanza grade ore
therefore it doesn't look like we'll see any of it (coarse gold) attempted to be processed until early 2023 when the supplemental system is on site & tested for readiness
https://www.maelgwynafrica.com/aachen-oxidation-technology/
Hammash Misr For Gold Mines
is Hiring:
Senior Mining Engineer
For our Site base At Marsa Allam
A minimum of 7 Years previous experience in Gold Mining Engineering
Underground* supervisors certificate of competency, or equivalent
Professional and very smart
Accommodation, meals and transportation allowances are provided
kindly share your CV at
https://www.linkedin.com/posts/rana-abu-hashem-026aa2107_hammashmisr-hiringimmediately-hiring-activity-6976177781613170689-3T0_?
-------------------------------->>>>
Also saw a post yesterday about Capital Drilling celebrating a year free of loss time/injury at the El Sid site (Nuinsco's Egypt project) - in the past El Sid was supposedly just going to process tailings - therefore something more must be happening there me thinks
It has just gone along with gold support line.
If it loses 88.8p we could end up on 86p.
some other news ... interesting
Deposits at U.S. banks fell by a record $370 billion in the second quarter, the first decline since 2018.
Deposits fell to $19.563 trillion as of June 30, down from $19.932 trillion in March, according to the Federal Deposit Insurance Corp.
The outflow in the quarter isn’t a problem for banks, which are sitting on more deposits than they want. Deposits in the banking system usually stay relatively stable, but swelled by some $5 trillion in the past two years due to pandemic stimulus. Now, a series of Federal Reserve rate increases is taking some of that money out of the system, in part by decreasing demand for loans and increasing demand for government bonds.
2013
'15
'20
-0.50
-0.25
0
0.25
0.50
0.75
1.00
1.25
$1.50
trillion
When the Fed started increasing its benchmark rate this year, banks expected—and wanted—some customers to move their money to places offering higher interest payments, such as government bonds.
As recently as April, many analysts scoffed at the idea bank deposits could decline this year. But the Fed’s pace of rate increases has been faster than expected, and the effect on deposits is more pronounced.
the gnome
Major stock indexes in Europe traded mostly higher on Thursday, as traders awaited the latest report on the Eurozone's trade balance. The positive sentiment was seemingly in line with gains recorded both in the United States and Asian markets.
The DAX rose at 0.17% at 6:52 am CET, while the CAC 40 was flat at the same time. FTSE 100 increased 0.49% simultaneously.
The euro traded 0.13% lower against the dollar, selling for 0.99680 at 7:06 am CET, while the pound lost 0.17% against the greenback, to sell for 1.15204 a minute later.
Baha Breaking News (BBN) / AY
Solar power plant commissioning - Q3 2022 (On-going)
· Capital structure review - Q3 2022
· Underground expansion study - Q3 2022
Correct Spoonington- supply side
Saw an interesting presentation the other day (will post the link if I can find it again) suggesting that this time inflation is caused more by supply side constraints rather than demand side influences.
It made a lot of sense to me & if correct means the central banks are a bit hamstrung as the interest rate hammer is not effective against supply side bottlenecks.
The likely result of this is that the central banks will continue to bring down the hammer which will result in a bit more pain which we will only get out of when the supply chains are fixed - the big question to me is just how bad are our supply chain issues, I have come across many diametrically opposed opinions on this all of which have some merit so I guess the answer is no-one has a clue :)
No worries, I thought it was an interesting link to share.
Apologies Jimbo_Jet I missed that you had already supplied the link.
European stock futures traded lower earlier on Wednesday after yesterday's publication of key inflation data in the United States and amid the publication of a new set of economic data from the UK.
Yesterday, the Labor Statistics Bureau stated that annual inflation in the United States came in at 8.3% in August. Besides, today, the UK Office for National Statistics announced that the Consumer Price Index (CPI) stood at 9.9%, and producer prices rose by 16.1% in August.
The DAX lost 137 points, or 1.04%, at 8:06 am CET, while the CAC 40 fell 0.95%, and the FTSE 100 declined 0.88%.
The euro improved by 0.14% against the dollar selling for $0.99810, and the pound was flat, selling for $1.14943 at the same time.
Baha Breaking News (BBN) / JG
Happy hump y’al
Would the real Centamin CEO please stand up!
https://see.news/centamin-egypt-invests-10-mln-in-exploration-phase-in-new-concession-areas/
Sotolo,
I have raised the issue with my local MP regarding Kwasi's growth target in that i made the point having millions of workers off on long term sick leave and having the resources to resolve this would have a huge impact on national productivity and consequentially GDP growth if it was included in how that numeration was determined. I also pointed out repairing damage caused by climate change to where we were before the event is not positive GDP growth but supporting measures preventing negative impacts has a GDP benefit. Hopefully they will change how they measure GDP and it helps NHS and other services.
Kind regards Tony
Mr Bond energy and food costs ARE included in CPI, teh figure reported today, core cpi excludes them but is a couple of per cent less as a result, but not the big figure reported today
Like I've been saying since January this year, inflation will top and decline later this year- any recession will be shallow and nothing like 2008 as the drivers are totally different- I sound like a stuck record but yet again, nothing in todays data make me change my mind
And manufactuing, including Crypto Mining, :-) .
How can they be right when energy and food costs are not included.
Fuel and energy costs affect everything that needs transporting.
Tornado, thanks more spot on wise words from you, Mr Bond I think the statistics looking bad are pretty correct, inflation is pretty high and with the labour market tight unemployment is low, the question is what next as forecasts are notoriously iffy, like weather forecasts for a month or two ahead,but as Tornado points out maybe interest rates won’t /can’t control this kind of supply side inflation
Apparently, a Bloomberg reporter predicted it was going to be higher last Friday from all the price rises she was observing State side. As the FED piles in higher interest charges, it is fuelling higher wage demands to pay the mortgages and rents which in turn pass through onto services and costs.
In the UK the low unemployment rate arises as a significant number of workers are on long term sick as they cannot get any treatment in the NHS system so employers here have got a major problem with finding workers. In the USA, the impact is 2M workers retiring early and a lot of people spending stimulus checks and liking social benefits over low paid work. High interest rates are making things worse thus far in that they are not reducing pay, hardly reducing vacancy notices at all and generating very little unemployment and so having no impact on the demand side of the economy.
I am not sure where the central bankers can go with all of this as they may well create a sovereign debt crisis before they can fix the inflation issue.
Does any thinking person to beleive Government Statistics are near accurate?
In the US mabe ,their market relies on a quick killing from all statistics good or bad. ;-)
IMO.
Just came across this story which I thought some would find interesting. Apologies if this has already been posted before:
https://see.news/centamin-egypt-invests-10-mln-in-exploration-phase-in-new-concession-areas/
'Centamin Mining has established 4 new companies to explore for gold in Egypt, and undertake exploration in the new concession areas that the company won in the first round of the gold auction that the country recently put forward.
CEO of AlSukari Gold Mining Company Amr Hassouna said the new companies include Centamin North for Mining, which is specialized in carrying out exploration works in the Najd area south of Al-Qusayr, and Centamin Central for Mining, which specializes in working in “Najras” near the Sukari mine.'
Major European stocks saw slight losses ahead of Tuesday's opening bell as investors prepared for the August inflation data from Germany and the United States, set to be published later today.
While markets expect the annual consumer price growth to remain unchanged in Germany, analysts forecast that US inflation will decline in response to the Federal Reserve's aggressive tightening policy.
At 6:58 am CET, the DAX lost 0.16%, the FTSE 100 fell by 0.22% and the CAC 40 decreased by 0.17%.
Both the euro and the pound recorded slight gains against the dollar at 7:46 am CET to trade for 1.01336 and 1.16899, respectively.
Baha Breaking News (BBN) / ND
I’m happy to share that I’m starting a new position as Junior exploration geologist at Barrick Gold Corporation!
Bishoy Awad
Minia University
Al Minya, Egypt
https://www.linkedin.com/posts/bishoy-awad-ab492b209_im-happy-to-share-that-im-starting-a-new-ugcPost-6964548763474374656-UmfT?
Especially now and the immediate future .