Roundtable Discussion; The Future of Mineral Sands. Watch the video here.
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"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
The shackles will be off then for sure Mrtibbles.
Be great if I’m right.
EMRA is a very old school, and the new Government should notice that they are doing nothing toward the Metal Mining sector, they achieved zero advancement but losing good miners names, which can be a very enhancement to Egyptian incomes that need it for their economy.
certainly hope so Razors!
Absolutely, the 3km case was always a complete red herring!
The proof of license submitted by CEY at the end of 2012 was for the whole 160km.
This has been acknowledged by the admin court and all of the judges in the supreme court - if this was not so Cey would not have been able to have continued mining, which does as we speak.
There was always lots of noise around what the arguments are about, almost all of them wildly inaccurate, but his being probably the most farcical of them all.
Cey has always and continues to adhere to all of the conditions set in the original rule of law when they were granted the license.
If they have transgressed this they would have been shut down a long time ago, let alone having spent over $1bn on developing Sukari.
Nice idea Dansul, but very little hope of any change there!
Hi Cowichan,
A court case based on the admitted lies and innuendo of a corrupt politician now a convicted felon living in exile stick in limo for a decade !
$20-$25 million of disputed withdrawn diesel subsidy stick in limbo for a decade!
Law 32 , whatever happened to that Oh yes the SCC went away how many years ago to think about it and never came back, they just can't be asked to rectify it, so its stuck in limbo!
Think about it over a decade now and despite so many announcements of proposed changes and speeding things up at mining conferences there is really no will to change things it's mostly just window dressing!
You are right we all know there are currently artisanal miners across Egypt's eastern desert plundering tax/royalty free gold 24/7, but how many local officials are in on it?
Most of these concession winners won't ever be producing gold, just pie in the sky!
Agree with you Cowichan, This Mulla guy should be removed and a new set of staff for EMRA to manage the sector with an open mind for business and investment.
GLTA,
Dan