Roundtable Discussion; The Future of Mineral Sands. Watch the video here.
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Duh lol
Equities in Europe traded lower in the premarket on Friday ahead of the preliminary report on the services and manufacturing sectors in Germany, France, the Eurozone, and the United Kingdom. Britain will also reveal its newest update on retail sales. The markets also reacted to the European Central Bank's (ECB) decision to raise interest rates for the first time in 11 years, by 50 basis points, to combat the rising inflation.
The DAX went down by 0.55% at 7:19 am CET. At the same time, the FTSE 100 decreased by 0.06%. Meanwhile, the CAC 40 dropped by 0.51%.
The euro lost 0.46% to the dollar at 7:24 am CET to go for $1.01834. At that moment, the pound sterling fell by 0.28% against the greenback to sell for $1.19585.
Baha Breaking News (BBN) / JR
The ftse decreased by 0.06%
I wouldn’t exactly call it down but I suppose technically they’re right.
Happy Friday y’al
Enjoy the weekend!
The European Central Bank raised interest rates by a larger-than-expected half-percentage point (PREVIOUSLY THEY SAID NO INTEREST RATE RISES TO 2024?) and unveiled a new plan to buy [WHERE DOES THE ONEY COME FROM AGAIN?] the debt of Europe’s most vulnerable economies, seeking to protect the currency union as it navigates the twin threats of skyrocketing inflation and slowing economic growth.
The move takes the ECB’s key interest rate to zero, ending the bloc’s eight-year experiment [??!!] with negative interest rates and capping two weeks of drama for Europe, which saw Russia cut and then restart the supply of vital natural gas, along with the collapse of Italy’s government.
On Thursday, she said the bank expected inflation to remain high [BEFORE THEY SAID INFLATION WAS ONLY TEMPORARY ??!!] for some time, partly due to the euro’s falling exchange rate against the dollar, which raises import prices.
One could believe, as I once did, that the bankers know what they are doing. But really , its all an experiment. and you know who the guinea pigs are?
best
the gnome
5% or 150 basis points LOL depends on your chart LOL
long may it continue and the UST 10yrs down nearly 5% wow...
Cowichan don’t you ever leave here!
Way too early to call - ~ a week is a long time in politics. If the expectation in build up continues less hawkish, bodes better for gold not worse
Toro Gold CEO and founder Martin Horgan said: “This acquisition provides our shareholders with the opportunity to realize immediate value for their shareholding in cash while also receiving a meaningful interest in a premier African gold producer as shareholders of the enlarged Resolute.
“The contribution of our highly profitable Mako gold mine and prospective exploration portfolio with Resolute’s portfolio of large scale, long life assets creates a compelling African gold investment proposition.”
Upon closing of the transaction, Toro Gold shareholders will own 15.8% of the enlarged Resolute business.
The deal value comprises $130m in cash and 142.5 million Resolute shares.
---------------------------------->>>>
Somebody involved in Mr Horgan's company's sale 'due diligence' process was :
Timothy Strong
Senior Exploration Geologist
Resolute Mining Limited · Full-time
Oct 2016 - Jun 2018
But, the purchase didn't work out well for Resolute - they kinda bought a dud - not as advertised
---->>>
Still, Timothy is now doing this:
https://www.kangariconsulting.com/
Due diligence, resource estimation, geo modelling, prospectivity, exploration management
--->>
And he was poking around in Egypt a few weeks back for an undisclosed client, pictures here:
https://twitter.com/timothystrong88/status/1550115250673922050
-------------->>>
Of course none of this means anything, until it suddenly does
PS - I love Goldgnome's assessment of Centamin's latest results - especially the bit about the Sukari area still being mined 50 years out - exactly why current shareholders need to be confident that management will not sell us out at this ridiculously low share price !
Fed less likely to go for the 100bp hike next week after jobless figures topped expectations likely 75 or hopefully only 50 and gold likes it. I expect gold will fall back again until decision made.
Nice turnaround today- let's hope gold price retains momentum
ECB has raised interest rates for the first time in more than 11 years, by 0.5% to wait for it, 0.0%, as it tries to control soaring eurozone inflation bit late when the cart has exited the stable so to speak.
Thanks Tony.
Certainly made a difference.
The US and Europe will likely still see recession, definately uncharted territory.
Yep, come on CEY, wakey wakey .
USA jobs being lost and Philly index on minus 12 so manufacturing starting to shut down in parts of USA. USA joining Europe on a recession.
Agree Halfpenny, would have been very bad had the RNS been poor. Gold is a weird one at the mo, but I don't hold any gold, well apart from all the gold jewellery on my partner lol
Hi PaulM
The way companies grow and some do not is very interesting. Predicatble, Simply, those that fail, are those where the founders and families and friends hang on, to way past their competency level. Think of any?
The ones that succeed, have dynamic and constructive and empowering succession processes.
CEY has a great ore system (composed of may orebodies and mines, several I have no doubt have not been found yet), but the company has been subject to "founders avarice". It is out of these "avarice" woods, now, and a bright fuure is looming. A bump here and there is normality, but look out for the fundamentals. These are in the ground, and it is a magnificent ore system. Tier 1 !
the gnome
Really, ... Dear Elon?
There is more meaning and substance in the world, than deifying a nutter, even if he has a cute dance move, a dimple and a sweet side step?
Dont get caught up in the stupidity of the US cult movement. Rumour is they follow any thing, including red herrings, dutch tulips and alike. Even NY cheese cakes.
the gnome
Good luck and good night from the wild colonies to the south
Talking about 1500's. Could talk about 200's as well. Mindless rubbish
Better things to do with ones life. Fishing. Golf, Birds, double malt?
Rebess
I have been around for a "while". Brief high level notes
1. In the "while", I have accumulated some very decent dividends from CEY, which has alleviated SOME of the pain (I have also some losses in industrials etc, but thats off topic)
2. I have not been a CEY seller, and as such, yes, the SP goes up and it goes down, and yes, the Gold Price goes up and goes down, and I have the odd spasm, but no pain as I do not sell. As such one can pontificate, or cry or both, or sell and celebrate. I have no pain, but watch carefully. I do look with some amusement on those who offer opinions on a shorter time frame, or on the bais of $/word of advice or $/transaction of shares, and these are not in short supply, but tend to dominate the sort term investors. For me nothing but sad amusement, provided by people who I am sure who could do better with their life, but possibly are too lazy or stupid or both.
3. The figures that I watch and invest in composes a few aspects
a. the life of present (Sukari) mine, and this represents my maximum life of investment, and sets a view on my "probably" investment period. I susect gold mining at Sukari and surround will be going on for 50 years or more (but this is a guestimate of course, be it educated, highly educated, experienced or whatever)
b. the extension of present mine, and the abilities to extend. Have they got smart technologies, smart people, both or whatever.
c. Organic expansion capacity forseeable. Doropo, Egypt broad, ABC etc, This is not a bad portfolio (10m ozs?), and it is being worked systematically rather than sensationally (as is the plight of some companies). Hope they get rapid gold assay capabiltity VERY SOON, to guide them, and hope they do not embroil in the Chrysos offerings. It is very possble now for a CAPEX of $100k or a lot less! See DetecteORE? Groping in the dark is a very unconvincing exploration strategy.
I am not stressed, as I am not a day trader (as noted previously) as I have not the spare hours in the day to dedicate to the nonsense of the vibrations of the market. And believe me the nonsense of recent is significant and is not representative of true value, but of rank stupidity and mindlessness (think Lemmings or politicians or economists?))
Relaxed comfortable,
the gnome
Bit extreme there talking about 1500's would have thought they'd be lots of buying b4 those levels are reached? US jobless figures out today might be a tailwind hopefully.
As sotolo highlighted his big worry is the AISC and I think that's the biggest drag on the SP apart from the GP.
If Horgan delivers mid-range on his guidance for 22 it implies AISC in Q3 and Q4 will be around US$160m with the total spend for the year around $620m.
In Feb this year they were guiding FY23 AISC at 975-1200 but wrapping a world class mine around this world class ore body is proving to be an expensive mission and they haven't mentioned 2023 AISC since.
Having said that I believe we are starting to see the benefit of all the investment piling into Sukari and hope we'll see steady improvement in production and AISC as time moves on.
All of yesterday's gain now gone no big shake's as it wasn't much anyway but I stupidly thought we'd be going up from hereon lol
Looks like gold wants to go to 1500-1600. Not good for CEY. Patience is the key here, wait for the gold to touch the 1500 range
Hi Halfpenny , Mr Bond & Steve, Elon is a narcissist who also behave like an extreme leader of some evangelical sect, he cant stand criticism or even questioning of his theories or beliefs.
Sadly there are those who will follow him blindly and no doubt lose an awful lot when Elon drops a fad to move onto something else!
This video is exposing the Cult of Elon Musk and a critique of the Tesla mafia, Starship and Elon Musk's dirty works with the stock market and cryptocurrencies.
We don't know Elon Musk personally but millions of people know how he markets himself in public as a kind-hearted, innocent multi-billionaire and a man who is in his 50s reacting to memes like a teenager. But behind the scenes, he is not that cool person who will save humanity.
Tesla share price has been manipulated!
Illegal artisanal mining for lithium batteries !
https://www.youtube.com/watch?v=8yGRdZaPsV0
https://www.imd.org/research-knowledge/articles/Will-Elon-Musks-narcissism-be-his-downfall/
A had a look at a Tesla recently , the interior reminded me of a council self cleaning public toilet with a computor monitor stuck the shelf under the windscreen!
I hope you are right gnome. It has been really painful here the last few years. Actually it has been pretty painful here most of the time apart from brief spell when we seem to take off and start dreaming of the golden flip flops. I notice a few of the traders who always seem to call it right have been quiet after buying in in the 90's and predicting short term rises to 1.15 -1.30. Not too many of the "I sold off my holding at 80 something and have bought back in" lot either.
A few of the jockeys who switch between here, Hoc and Ths have been quite as well as they have been falling too.
Im hoping that in the not too distant future, gold and Cey will start to fly and we finally get to see Sotolos £3 a share.
It would be nice if some of the regulars on here, yourself, Mr T , Rebess, Cowichan etc finally get the golden flip flops.