The latest Investing Matters Podcast episode featuring Jeremy Skillington, CEO of Poolbeg Pharma has just been released. Listen here.
London South East prides itself on its community spirit, and in order to keep the chat section problem free, we ask all members to follow these simple rules. In these rules, we refer to ourselves as "we", "us", "our". The user of the website is referred to as "you" and "your".
By posting on our share chat boards you are agreeing to the following:
The IP address of all posts is recorded to aid in enforcing these conditions. As a user you agree to any information you have entered being stored in a database. You agree that we have the right to remove, edit, move or close any topic or board at any time should we see fit. You agree that we have the right to remove any post without notice. You agree that we have the right to suspend your account without notice.
Please note some users may not behave properly and may post content that is misleading, untrue or offensive.
It is not possible for us to fully monitor all content all of the time but where we have actually received notice of any content that is potentially misleading, untrue, offensive, unlawful, infringes third party rights or is potentially in breach of these terms and conditions, then we will review such content, decide whether to remove it from this website and act accordingly.
Premium Members are members that have a premium subscription with London South East. You can subscribe here.
London South East does not endorse such members, and posts should not be construed as advice and represent the opinions of the authors, not those of London South East Ltd, or its affiliates.
Spoonington, methinks you are reading too much from Comrade Putin's crib notes here. Vlad was just looking for an excuse to invade. He wanted to link up the Crimea with the Donbas enclosure and this was the ticket. He just didnt factor in the extreme defense being put up by the Ukraine forced. Anything that bloodies the Ruskies nose is a good thing
The invasion of Ukraine was prompted by NATO coercing Ukraine to become a member - an aggressive & expansionary act which NATO & US advisors had counselled against for years.
Under NATO’s charter the admission of new members has to lead to increased security for both the new member & NATO as a whole - how did that work out?
Perhaps you are the one being taken in by US/NATO propaganda and would be well served by looking at both sides of the conflicts points of view instead of blindly accepting what you are spoon fed by western media?
The Invaders a fantastic series I first watched it as a child when we used to visit my Auntie & Uncle in Bournemouth,
Uncle Ernie was the commander of an MTB during WW2 http://www.mtb102.com/
After the war Uncle Ernie took over his fathers garage and Rover dealership in Bournemouth and later he took on an Alpha Romeo franchise, he said putting his foot down in the Alpha reminded him of opening up the throttles on his MTB!
Uncle Ernie also inherited his fathers Vincent Black Shadow which he used to take me for rides on, usually along the cliff top road sometimes wearing just our shorts and Stadium crash helmets and goggles, Uncle Ernie usually had a fag on as he rode the Vincent!
https://www.youtube.com/watch?v=SidMiINt1Q0
https://www.youtube.com/watch?v=H87_qzgUESo
https://www.youtube.com/watch?v=c5XiGX35tow
https://www.youtube.com/watch?v=BcKJogxhKX0
Fantastic smell from the Vincent of 5 star petrol and Red X, still luv that smell even now!
But this is the TV series, and in colour!
The Invaders Unseen Pilot with Documentary Compilation Season 1 ( 1967 to 1968 TV series)
Roy Thinnes stars as architect David Vincent, who accidentally learns of a secret alien invasion already underway and thereafter travels from place to place attempting to foil the aliens' plots and warn a sceptical populace of the danger.
https://www.youtube.com/watch?v=TwmaLI72gJU
Hi Gayster, It's hard to understand how anyone could believe that NATO/US pushed Russia into invading Ukraine, but then Boris and Farage fooled the gullible and ill informed that Brexit was an oven ready deal which would bring benefits, although now the truth is ever more apparent by the day!
Putin was losing support at home so he creates a diversion by causing a war and then sets about trying to convince the ordinary Russians that he is protecting them from the evil West.
When leaders lose popularity they often resort to such tactics, rather like Thatcher did to win the the next election in the eighties!
https://www.smithsonianmag.com/history/brief-history-falklands-war-180976349/
37 years ago, During the Falklands War did the EU help us NO they were openly sending Weapons to our AGGRESSOR never forget that” – Facebook post, 31 January 2020
This is not true. The EC (the predecessor of the EU) applied an arms embargo and an import ban on Argentina
https://fullfact.org/online/european-community-supported-britain-during-falklands-war/
The war Falklands war cost Britain about £2.8bn (£9.5bn in present value) and the islands’ defence costs upwards of £60m annually. In 2012 it was estimated that British taxpayers paid more than £20,000 per islander for defence alone, and approximately one-third of the population worked for the government. Unlike other former colonies such as Gibraltar, relations with the nearest nation-state are thin. Though living in a technically autonomous British overseas territory, the islanders are wholly dependent on Britain!
https://www.theguardian.com/commentisfree/2022/apr/07/british-sovereignty-falklands-absurd-imperial-hangover-argentina
Brexit some facts
https://fullfact.org/europe/brexit-transition-period-economic-cost-public-opinion/
Russian Invasion of Ukraine the Facts
The war in Ukraine was fomented by disinformation and information warfare will be part of the battle.
https://fullfact.org/blog/2022/feb/ukraine-disinformation/
https://fullfact.org/news/ukraine/
“Russia is destroying biolabs.”
There are biological research labs in Ukraine that partner with the U.S. Department of Defence, but they do not do weapons research; they do disease monitoring. Russia is not bombing those labs. This narrative has been seeded by Russian propaganda outlets over the past two weeks, including the foreign ministry. The Russian state media outlet TASS published documents that they claimed prove NATO and the US were developing biological weapons at labs in Ukraine.
https://www.logically.ai/articles/a-round-up-of-misinformation-narratives-of-the-russian-invasion-of-ukraine
Bad information ruins lives. We’re a team of independent fact checkers and campaigners who find, expose and counter the harm it does.
https://fullfact.org/about/
Non farm payrolls came in hotter than estimates... could be real heads winds for gold now with steady unemployment rate; Fed has the mandate for a big hike (this month).
Oh lordy... we will be discussing alien invasions coming next.... LOL
Spoonington you are spot on ,if need be they will ignore Basel3 which comes in in deceber 22, which will affect the PMs been sold as paper false promises, by the Cartel in the US.
"Does anyone really believe that the US/NATO pushed Russia into the invasion of Ukraine for any other reason than destabilising Russia? '
Only gullible twits taken in by the online bots following the Kremlin's propaganda believe that Russia was somehow pushed into an invasion. Come on. What kind of moron believes it's not Russia's fault when another Russian rocket decimates an apartment building killing innocent civilians.
Then again, people believe anything when it's online or told to them by lying politicians, even the obviously untrue like that the Earth is Flat, Covid-19 wasn't real or that Brexit would somehow be good of the UK.
The Sukari gold mine in Egypt has higher-grade zones to support short-term options for mill feed improvements and has made significant progress on its exploration strategy, according to Peel Hunt.
The Sukari gold mine in Egypt has higher-grade zones to support short-term options for mill feed improvements, said analysts at the broker.
Additionally, the mine offers the opportunity for a life of mine (LOM) extension and increased production.
“We believe the underground program demonstrates the continued high-grade nature of the deposits, further supporting not only further LOM extensions but also increased underground production.”
Newly drilled high-grade bonanza zones near existing Sukari infrastructure returned intersects of 10m @ 64g/t, 5m @ 267g/t and 17m @ 10g/t, all of which have the potential to increase flexibility for the Sukari mill feed options.
Further prospects within 10km of Sukari's mill have been explored.
Initial results from two targets have shown the potential to supplement the mill feed in the short-to-medium term.
Centamin has also completed a 100,000m conversion drill program at the Doropo project, with the goal of converting the majority of the inferred resource to the indicated category.
Plant design, metallurgical testing and geotechnical drilling are all in the final phases.
A pre-feasibility study is expected in Q4-2022.
Finally, the broker mentions that exploration has begun at Centamin’s Eastern Desert exploration licenses in Egypt.
The EDX Blocks, awarded in 2021 comprise 3,000km2 of highly prospective greenfield exploration tenements within the Egyptian section of the Arabian Nubian Shield.
The target price has been set at 130p, with a buy rating.
https://www.proactiveinvestors.co.uk/companies/news/986985/centamin-making-progress-on-several-fronts-says-peel-hunt-986985.html
what utter rubbish
The conditions that we have brought upon ourselves in the world all point to gold going up significantly however the gold price has the most economically evil cartel of the US Fed/Treasury & the ECB to contend with.
They will continue to pull the strings of the BIS, gold traders, bullion banks, etc. to try desperately to ensure that the gold price does not beak out as they are fully aware that a significant rise in the price of gold is a demonstration of the destruction of the value of the key “reserve” currencies rather than any change in the intrinsic value of the gold itself.
They will not be able to maintain this charade forever but I fear they will be able to string it out for quite some time to come.
Does anyone really believe that the US/NATO pushed Russia into the invasion of Ukraine for any other reason than destabilising Russia? One of their significant motivations to destabilise Russia is to try to prevent/postpone the push by Russia & China to establish a pan Asian gold backed currency which would almost certainly lead to a major rerating of the $US gold price.
The US hegemony is coming to its end (which I for one welcome) but they will fight tooth & nail to maintain it & unfortunately may well end up driving us to WW3 - they have come close previously when not in such dire circumstances.
"Donald will be back as President!?"
That would probably the worse thing to happen for world peace for decades since Trump is basically in Putin's pocket.
Great news indeed. One thing for sure is there'll be sellers all the way up as many investors fed up seeing their holding erode.
Well if gold is correlated with uncertainty, then political uncerainty and rudderless leadership is here. Boris has bonked himself too much and been bonked. Biden is lost in a haze of his own making while democracy in the US unravels ...
First, Senate Republican leader Mitch McConnell (R., Ky.) said he would block a bipartisan bill aimed at enhancing the U.S.’ ability to compete with China unless Democrats abandon a separate prescription drug, climate and tax bill.
Second, the Supreme Court said the Environmental Protection Agency couldn’t enact sweeping rules covering greenhouse gas emissions, a decision likely to circumscribe federal authority in a range of fields.
Third, news emerged that President Biden might be reaching a decision to waive some of former President Donald Trump’s tariffs on China.
Fourth, Donald will be back as President!?
And we have the Russian-Nato fiasco in Ukraine, and a sad shooting in Japan. A glut of unsold homes in Sydney and Melbourne forcing sellers to discount their asking prices and creating bargains for buyers willing to take the risk of prices falling further, as the largest housing market correction in at least 40 years accelerates.
Crypto is quaking and shaking, and people know not where to go.
China is loosening up and its share market is charging ahead,
The changing of the guard is surely happening, and the talking heads are talking their respective heads off, and creating more uncertainty
Thanks goodness for gold..."we find a positive and strong relationship between gold returns and the uncertainty composite indicator when the uncertainty attains its highest level and under normal gold market scenario. This suggests that holding a diversified portfolio composed of gold could help protecting against exposure to uncertain risks."
https://arxiv.org/ftp/arxiv/papers/1806/1806.07623.pdf
best of luck to us all
enjoy your weekend, and get the long game sorted out.
the gnome
Im hoping that after a diffficult time that yesterdays Rns was the straight drive past the bowler and that with the upcoming news, Martin Horgan will start to play a few shots. A cover drive would be nice, but after all we have been through here the last few years, I wouldnt mind a Rootesque reverse ramp into the stands for 6 :-)
Halfpenny, exactly that I concur
Or just don't read it but don't be rude to other posters on the board Ken the BB is a platform for everyone, it takes all sorts to keep it interesting.
Goldgnome,
Your information is excellent and I read every bit to try and learn more about mining.
I'm in construction myself so this subject is of great interest.
You must be in the mining industry to have learnt such knowledge.
Keep up the good work
Ken
Thanks Siko ,hope you and your family are well
A very trusted contributor.
I hold a substantial amount of centamin shares and this board is bloody brilliant with exceptional information from you guys.
Mr T I like your deviation of conversation into politics or any other subject it makes the board interesting, so if others don't like it then bugger off elsewhere.
Good luck guys
Ken
European stock exchanges traded mixed in the premarket on Friday after United Kingdom Prime Minister Boris Johnson announced he would step down from the post. Reportedly, Defense Secretary Ben Wallace is the favorite to replace him. In business news, Volkswagen and its partners revealed a €20 billion investment into a battery cell business.
The DAX was flat, London's FTSE 100 was down 0.16%, while the CAC 40 increased 0.14% at 7:20 am CET.
The euro was 0.12% lower against the dollar at 7:34 am CET, trading at 1.01484. The British pound declined 0.19% compared to the greenback, going for 1.19999 a minute later.
Baha Breaking News (BBN) / MS
Happy Friday y’al
For those interested in the structural controls and mineralised potential of the underground at Sukari, the below provides a useful insight. In particular figures, 2A,B and C
https://www.researchgate.net/publication/226196044_The_Sukari_Gold_Mine_Eastern_Desert-Egypt_structural_setting_mineralogy_and_fluid_inclusion_study/link/09e41507ef47d97b4a000000/download
There is room for considerable upside in the underground mineralisation, in terms of tonnes and grade, in my humble opinion.
the gnome.
The court case is annoying, but here are the facts in a few lines:
The first court refused all the requests of Alfakharany (the person who filed the case).
The court decided to limit Centamin's exploitation area to 3sq km due to the absence of a signed contract for the 160sq km area as the contracts was not submitted with the case papers, and that was the only reason for their decision, the absence of the contract.
The commissioners filed a report supporting Alfakharany, but there were no facts at all in their report to support their recommendation.
The signed contract was submitted in the appeal.
This link contains the signed contract as it was published in the official national news paper, which clearly states that the exploitation area is 160sq km.
https://gate.ahram.org.eg/Media/News/2017/2/26/2017-636237440887317058-731.pdf
And this link contains the map of the exploitation area, stating 160sq km , with exact coordinates.
https://gate.ahram.org.eg/Media/News/2017/2/26/2017-636237441742747904-274.pdf
All signed by the minister of petroleum according to the law.
Unfortunately, the new law issued to prevent appeals against state's contracts, and the subsequent appeal against it, which is still in the supreme constitutional court, all this paused Centamin's case.
There are 4 things that spring to mind with those grades (ALL POSITIVE! THAT MAKES MY MOUTH WATER MORE!!).
1. Comparison with the undergrpund Fosterville Gold Mine (in Oz), held by Kirkland Lake (and whoever took them over) where they got very excited (justifiable) by 2.6 m @200 gpt Au. Fosterville limped along for more than 100 years as a small time gouger show, until they discovered the mother lode/s. It then became the lowest cost underground mine in Australia if not the world with a AISC of about US$300 per ounce. Worth a read https://www.amcconsultants.com/experience/kirkland-lake-fosterville-gold-mine patience can be a virtue, but knowing how LARGE bonanza grade gold mines get found and developed is very useful.
2. Optionalities increase. Basically with those grades and thicknesses one gets a lof optionality as how to mine, how to mix (etc). Optionality is one key to managing a profitable mine. Grade of course is another as is margin.
3. The variation of thickness and high grade suggests that there is more than just a single high grade vein. Given the geology, rheologies and structure I would expect there to be vein arrays, crush zones and breccia zones...this is something to watch for very carefully, and could make a significant upgrade to the mining operation.
4. With such high grades and visible gold, they need to be evry dilligent about their assaying method, as they could be UNDER REPORTING, as has been noted in a number of high grade gold mines in the last few years...
"" “The correction to the intercept in hole UDH4051 is significant as, at 207 g/t over 2.6 m (original 51.7 g/t Au over 2.6 m ) , it is extremely high-grade and is located 500 m away from our deepest Mineral Reserves in Lower Phoenix. With the very high concentrations of gold we get in the quartz with VG mineralization at Fosterville, the revised intercept provides increasing evidence that there will be additional high-grade lenses that we can identify as we drill to extend the deposit down-plunge from current Mineral Reserves.” The error in the initial report was identified during a subsequent review of the sample batch, which was assayed using an Atomic Absorption Spectrometry (AAS) instrument to measure gold in solutions. The analytical method required solutions for extremely high-grade gold samples to be diluted, and dilution calculations applied to the AAS readings to return the gold assay. On Site Laboratory Services identified that a transcription error had occurred, and that a dilution calculation had not been applied to two results in their initial report.""
That was a 400% UNDER REPORTING ! SO THERE COULD BE A LOT MORE THERE THAN THEY KNOW.
https://www.listcorp.com/asx/kla/kirkland-lake-gold-ltd/news/kirkland-lake-gold-updates-on-fosterville-exploration-2626361.html
FORTUNE FAVORS THE BRAVE
best
the gnome
Major stock indexes in the United States rallied at close on Thursday, as S&P 500 ended the trading session higher for the fourth consecutive day, making this its longest winning streak since March 2022.
Federal Reserve Bank of St. Louis President James Bullard noted that the country’s economy will be expanding during this year despite rate hikes, while Fed’s Board of Governors member Christopher Waller shared that he would back a 75-basis point hike in July. On the data front, the Department of Labor revealed the number of initial jobless claims in the US rose by 4,000. Meanwhile, the country's trade deficit decreased to $85.5 billion in May.
The Dow Jones jumped 1.12% or 346 points at the closing bell, as Caterpillar surged 4.63%. At the same time, S&P 500 gained 1.50%, with ON Semiconductor shooting up 9.24%. The Nasdaq 100 soared 2.16% at the close, with Lucid skyrocketing 8.92%. The euro lost 0.18% against the dollar at 3:59 pm ET, selling for 1.01648.
Baha Breaking News (BBN) / AY