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Gnome you're a scientist - are you not worried about the long term effects of burning/consuming 15 billion litres of oil every day? We're on a unique spaceship gliding through the void with no life raft. It just seems a bit reckless to me?
Thanks Sotolo, everything was screaming to me that this would be the outcome but I have got used to my short bets turning the other way so was expecting the worst.
It must have been because yesterday was worldwide national doggie day & my nom de plume is my doggie’s name who I love very dearly - once again she has brought me good fortune & will surely share in the profits :)
No problems with knoking out the gas flairing, and I am a long term environmentalist.
I am also a long term scientist, and the level of scientific rigour in the climate change debate is substandard in the main stream mess.
best
the gnome
Thanks Cowichan
The Australians are very straight out about their views (that is until they turn into pollitcians), and known for it (and we wont mention Juian Assange, nor Rupert). I recently joined a comfortable board of Directors in a UK listed company, and apparently transformed what was a "tea and bickies" affair, to a very rowdy and unruly board, where there was plenty of "frank discussion". The SP of the company has moved up in unsion with the amount of debate in board meetings, and thats they way it should be?!
Aside, Cransfields comments on St Barbara are in line with mine. In fact I would go one firther and certainly not invest in St Barbaba!
The notion that a pre-revenue explorer, Genesis with a $400 million market capitalisation could seek merger equivalence with St Barbara would have seemed fanciful in July 2018, when the latter was one of Australia’s top five gold miners with a market capitalisation of more than $2.2 billion...now worth about $750m
But after peaking above $5 per share in July 2018, St Barbara shares had slumped to just 75¢ by June 30 following a tough period in which it issued $490 million worth of scrip to help fund what turned out to be a failed $768 million acquisition of Canada’s Atlantic Gold.
Permitting delays have rendered the Atlantic assets impotent and the unravelling of the acquisition has coincided with St Barbara making slower than expected progress on refurbishment of the Gwalia mine (no mean feet at the depths they mine !!! and explore at) and slow progress on a plan to expand its Simberi mine in Papua New Guinea (not the safest of jurisdictions and has a few issues in itself to be polite).
“Having done extensive DD [due diligence] on each other’s assets we can see operational synergies that can pair the right rocks with the right mills and the right skills with the right mines, to provide operational levers to de-risk assets to the benefit of shareholders and deferring or ultimately eliminating material capex [capital spending] in this hot inflationary environment. MARVELLOUS TURN OF WORDS, BUT ITS THE TURNS OF EARTH THAT ARE THE REAL MEASURE
“Consolidation not only makes sense, it is actually being demanded by our shareholders. Good grief, do they know what they wish for?
“We may have lit the fuse on consolidation in the region, but from my personal perspective, the timing or structure of such deals is less important than actually getting deals done.
“We have time and capital with over $100 million in our bank account. We will remain patient and disciplined on our overarching five-year strategy, which we are only four months into.” Very glad none of my money is involved in this strategy, or in either companies.
There are better bets
best
the gnome
And how is it enforsable in this World.
As you seem to know Andrew.
Perhaps you should ask if the USA will fully comply at the end of this year.
Basel 111 is vague , just guidelines for Banksters is it not.
I am interested.
Andrew Maguire highlights the possible implications of Russia’s plan to create its own international standard for the precious metals market by establishing a local LBMA-competing brand.
With global investors growing frustrated over the unnatural capping of the gold and silver prices, the London wholesaler provides further evidence of the COMEX’s broken pricing mechanism.
https://www.youtube.com/watch?v=XZp8XU8AkzM
Spoonington, sorry you are wrong, you opening a short on the S&P didn’t presage a rise, only for you to lose loads. Instead you were brave, utterly right and must have made a bucket with more to come. Sadly in a bear market (as in a bull) the trend is your friend and it is down, always worth selling and buying back later, wish I had your guts, congrats!!
well it holding better than RR
Sorry Steve I got the time from a Kitco article.
Gold price rising. after 20 mins up 7.
Stiill have not hesrd the speech ,but so far hoping.
:-)
Looks like 15:00 as I originally thought- so go and make another cuppa lol
Thanks :-)
Powels "speech" is at 1400 GMT.
Reminder for those interested in potential short term movements...
Hi Mr Gnome,
Its older powerful world leaders like Putin, Trump and the big multinational energy companies who ought to have more sense, but instead refuse to accept the substantiated scientific evidence being gathered and presented on a continuous basis that they need to change the way they do things now, but instead continue to poison our planet!
New data from the World Bank reveals that worldwide gas flaring rose marginally to 143 billion cubic metres (bcm) last year. That equates to roughly 93% of Europe’s gas purchases from Russia. Another way to look at it is that those 143bcm could have generated some 1,800 terawatt-hours (TWh) of electricity, almost two-thirds of the EU’s net domestic power generation, according to the World Bank.
If you add in the flaring of petroleum liquids and the venting and leaking of methane from oil and gas infrastructure, the amount of primary energy wasted by the oil industry comes to a staggering 264bcm of gas-equivalent – roughly 1.7 times Europe’s total Russian gas imports in 2021, or 7% of the entire world’s natural gas consumption.
https://www.energymonitor.ai/tech/decarbonising-gas/opinion-the-insanity-of-flaring-during-a-global-gas-crisis
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Monday 29 August 2022
Equities in Europe traded higher in the premarket on Friday in anticipation of the newest update on consumer confidence in Germany. Traders will also be focusing on the 2022 Economic Policy Symposium in Jackson Hole, Wyoming, where United States Federal Reserve Chair Jerome Powell is scheduled to give a speech later in the day.
The DAX traded 0.37% higher at 7:05 am CET. At the same time, the FTSE 100 gained 0.29%. Meanwhile, the CAC 40 rose by 0.32%.
The euro lost 0.12% to the dollar at 7:25 am CET to sell for $0.99619. A minute later, the pound sterling went down by 0.22% to change hands for $1.18057.
Baha Breaking News (BBN) / JR
Happy Friday y’al
Enjoy your weekend!
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Hi Cowichan,
Mt Cranfield is just being honest and 'Not beating about the bush!!"
There needs to be more of this!
Sorry spell check error below should "before the damage greed and selfishness of past generations have caused to our planet is irreversible!"
Hi Mr Gnome,
Unfortunately the problem remains that not enough is being done soon enough and as Sir David Attenborough rightly states time is fast running before the damage greed and selfishness of past aberrations have caused to our planet is irreversible!
“They have spent $780 million of shareholder money and didn’t do adequate due diligence. That is just mind-bogglingly reckless in my opinion,” Mr Cranfield told The Australian Financial Review.
“I think there needs to be complete change on the board.”
Mr Cranfield said he had no confidence in the St Barbara board’s ability to handle mergers and acquisitions after the $780 million acquisition of Atlantic Gold in 2019, which was partly funded by a bungled equity raising and was impaired by $248 million within two years of purchase.
https://www.afr.com/companies/mining/st-barbara-investors-demand-board-overhaul-before-m-and-a-20220819-p5bb9d
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Maybe it's something in the water Down Under, but Aussies seem to freely speak their minds - very refreshing !
Wonder if he's any relation to our very own goldgnome... ;-)