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Surely this will prompt an RNS
On market prices gold is up .84% at $17.16
also crude is down nearly 5% at around $88. a barrel
As I've said for the past few years- 2008's recession cause was unique- any recession now will be shallow and nothing like then- drivers are completely different
Nice one Cowichan :-)
Elsukari 36MW hybrid PV plant
mission accomplished
https://www.linkedin.com/posts/hamdy-elnaggar-pmp%C2%AE-8b8a3892_elsukari-36mw-hybrid-pv-plant-mission-accomplished-activity-6973201498340012032-pQ0P?
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Time to save some money
Wth Gas Prices rising , it is clear construction costs will rise.
But Banks are lending less and choosey about those they lend to.
In time ,likely this winter ,sales will slow .Especially in the UK.
A repeticion of 2008.
There will be some desperate builders out there, then if you have the cash ,time to buy.
I am already looking.
Thanks Goldgnome and am sure they are variances in other countries too.
They have also risen a lot more recently in Aus, espc last couple of years, so more susceptible to movements.
I don't have property in Australia so less concerned.
SJ999
Housing prices dropping rapidly in Australia, across the country
cheers
the gnome
House price UK news- up again in Aug2022 despite drop in July- so that's 11% this year- I recall 5 years ago- "house price crash imminent"... and in 2017, 2018, 2019 then COVID- "don't buy house prices will crash", then 2020, 2021, now 2022... same with stocks pretty much (bar gold ones of course)... so no one mentions how much the doomsayers have lost since then...
Alternate view- inflation rise will top and drop, interest rates are still massively low so people don't want cash- borrowing remains cheap- the markets will not drop anywhere near like the doomsayers. How many times I've read articles like this over the past 30 years is breathtaking- trying to hit the very few big drops in history is massively outweighed by the gains- look key markets over the pat 30years- so long investors shouldn't panic. Of course, gold and mining stocks are a different gravy and should remain at the smallest % of the portfolio bar crypto, so trading is recommended here for sure
Its just a matter of time before the Dollar will plunge.
Balancing out the worlds currencies is long overdue.
In the Dollars case its overvalued for US Exports.
Whatever they have left to export.
Gold gnome he is on the money this time. The question for us
A. Will gold break down below $1680 (probably), how far will it go down and for how long before turning. Presumably while the rest of the stock market is still plunging.
B. Will miners plunge far faster with the falling stockmarket and their rising costs, which miners will be around when gold turns?
The pound has dropped 17% against USD in the past year and quite a bit more recently. At one point does a devaluing currency act as a tailwind in equity valuation when its earnings are in USD?
and now that I have your attention
the link
https://pro.paradigmnewsletters.org/p/awn_marketscream2_0522/LAWNY6AE/?cake_s1=09_76332025_1ff06b92-9fd1-43ea-b444-ea0a712df4f5&h=true
the gnome
For all those who would like a little something extra with their porridge this morning, can I recomend :-
“Blood-Curdling Scream”
Exclusive: In this free, exclusive interview, a former government insider issues a startling message to Americans: "This will be the single fastest and deepest correction of our lifetimes and the dam is already starting to break... the markets just let out a blood-curdling scream. Many, many Americans are going to suffer"
He has been screaming for a while now, but now perhaps he is on the money?
best
the gnome
Equities in Europe traded lower in the premarket on Wednesday in anticipation of the newest reports on the Eurozone's gross domestic product (GDP), the United Kingdom's house prices, and Germany's industrial production.
Meanwhile, the crisis in Ukraine continued, with Russia dismissing the international community's efforts to demilitarize the Zaporizhzhia Nuclear Power Plant (ZNPP) as "not serious."
The DAX fell by 1.00% at 7:09. At the same time, the FTSE 100 declined by 0.87%. The CAC 40 decreased by 1.01%.
The euro lost 0.07% to the dollar at 7:14 am CET to go for $0.98967. At that minute, the pound sterling went down by 0.34% against the greenback to sell for $1.14799.
Baha Breaking News (BBN) / JR
Happy hump y’al
;-)
Thanks Cowichan - I've been out of circulation for a while - I thought I'd missed something - Cheers.
Rebess, it must be too tempting for Amr not to toot his own horn for the Egyptian press - thus 'ceo' of the Sukari mine - from Centamin's website :
Amr Hassouna
COUNTRY MANAGER (EGYPT)
JOINED: February 2012
QUALIFICATIONS: BSc Finance and Accounting
Amr has over 21 years’ experience working in the natural resource sector in operational, financial and commercial roles. Prior to joining Centamin, Amr spent 9 years at Alexandria Petroleum Maintenance CO (Petromaint) in the oil and gas sector.
At Centamin, Amr’s career has been focussed at the Company’s flagship asset, the Sukari Gold Mine. Over ten years, Amr has progressed through various operating and financial roles and in 2021 he was appointed as Interim Sukari Gold Mine General Manager, playing an instrumental role in the delivery of guidance, optimisation studies, cost-savings and our ESG initiatives.
On behalf of Centamin, Amr is also the Managing Director of the Eastern Desert Exploration (“EDX”) company, Managing Director of Sukari Gold Mines and a Director of Pharaoh Gold Mines.
Amr Hassouna - CEO? - I thought Martin Horgan was CEO.
Amr Hassouna, CEO of Al-Sukari Gold Mining Company, director of Centamin Egypt, revealed the launch of 4 new entities operating under the umbrella and supervision of Centamin International, to undertake exploration and prospecting tasks in the latest new concessions that it won, as part of the first round of the gold auction that it put forward.
Hassouna revealed to Al Mal that the establishment of the new entities was approved after Centamin applied to obtain an exploration license that obligated it to invest about $10 million in rock collection operations, the preparation of probabilities and preliminary studies with the new concessions, during a period of 18 months, starting from the time of receiving the areas. and start working.
He stressed that the inauguration of the new entities was completed after winning the last bid, and they include Centamin North for Mining, which is specialized in carrying out exploration, drilling and production works in the Najd region south of Al-Qusair, and Centamin Central for Mining, and it is responsible for the work in “Nagras” near Al-Sukari. .
He added that the third company is Centamin South for Mining, and its mission is to work in the Umm Al-Rous area, north of Al-Sukari, near Marsa Alam Airport, in addition to Centamin Egypt for Mining Services, and its job is to provide the other three companies with all the mining services
Hassouna revealed that actual work has begun on the new concessions, specifically in the areas of Najras and Umm Al-Rous, and within three months, work will begin in the Najd area, south of the city of Al-Qusayr
He pointed out that during the current stage, samples of rocks are being collected and analyzed in the largest laboratories in the world, explaining that the initial evidence is promising, and heralds the presence of a good concentration of gold ore
https://almalnews.com/%d8%b3%d9%86%d8%aa%d8%a7%d9%85%d9%8a%d9%86-%d8%a7%d9%84%d8%b9%d8%a7%d9%84%d9%85%d9%8a%d8%a9-%d8%aa%d8%af%d8%b4%d9%86-4-%d9%83%d9%8a%d8%a7%d9%86%d8%a7%d8%aa-%d8%ac%d8%af%d9%8a%d8%af%d8%a9/
posted 6:48 am, Monday, 5 September 22
Amr Hassouna, CEO of the company, in his first interview:
"We welcome expansion to increase production through bidding or partnership and acquisition"
https://almalnews.com/%d8%b9%d9%85%d8%b1%d9%88-%d8%ad%d8%b3%d9%88%d9%86%d8%a9-%d8%a7%d9%84%d9%85%d8%af%d9%8a%d8%b1-%d8%a7%d9%84%d8%aa%d9%86%d9%81%d9%8a%d8%b0%d9%89-%d9%84%d9%84%d8%b4%d8%b1%d9%83%d8%a9-%d9%81%d9%89-%d8%a3/
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Maybe it's the Egyptian version of clickbait ? Overall the interview doesn't have much substance - except the subtitle !
At some point the charts will be right- SP can only go up or down, so law of averages confirms this
Cey holds up and time has moved it out of the down channel despite price below 89p. 88.4p area was the break above. Suspect we have a modest rally to low 90's over this week. Could be a very different ball game next week.
European stocks decreased in premarket trading on Tuesday, following Monday's sharp selloff amid the energy crisis. Earlier, Moscow suspended gas supply through the Nord Stream pipeline, while G7 agreed to introduce a price cap on Russian oil. Amid the crisis, OPEC+ announced its first output cut this year. On the data front, investors awaited the report on German factory orders.
The FTSE 100 lost 0.20% at 7:03 am CET, the DAX was down 0.08% and the CAC 40 declined 0.16% at the same time.
The euro added 0.14% against the dollar to sell for 0.99461 at 7:06 am CET and the pound gained 0.40% against the US currency to go for 1.15655 at the same time.
Baha Breaking News (BBN) / NP
At least Centamin have the Solar Plant coming on line.