Roundtable Discussion; The Future of Mineral Sands. Watch the video here.
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My take before I go out to play is vast amounts of money is flowing out of risky funds into the $ but only temporarily as a safe haven but lots of those $'s are going to get to PM's etc as an inflation hedge before long . Bye..
Hi Nick.
Thank you for posting , it never does any harm to remind members of the history of the company and posting anything positive during difficult times like these can only be to the good!
It all depends on type of recession-
Right now defence is the name of the game it's the best strategy right now, because in a recession a lot of things fall out of bed. Once the Fed whimps out pog will fly but we also are hopeful for good inbound company news which can land at anytime.
Yep- most bank on a mild recession- if markets drop further will be shallow and buy back in fast. Inflation remains the key, as soon as levelling off starts and then drop, pick up will begin
GP drops on dollar strength.
But Cey revenue is in US$, the value of which has increased.
Brokers best friends lol
Those that knee jerked first make the largest gain as always when they go back in
Gold price decline reflecting other non $ currency basket decline NO other reason short sighted knee jerk reaction of those that cannot comprehend that all money is loosing value including the $ hand over fist fast due to inflation.
European shares traded higher in the premarket hours on Wednesday ahead of the release of more economic data. At this hour, the markets are weighing up the situation after the DAX fell 2.91% at the close yesterday, hitting a new 52-week low.
A day before, the euro tumbled, hitting the lowest level against the dollar since 2002, a decline that comes amid soaring gas prices and increased fears of a recession. Besides the latter, yesterday it was known that services activity growth in both the Eurozone and Germany decelerated in June.
The DAX gained 1.25% at 7:28 am CET, while the CAC 40 added 1.14%, and the FTSE 100 rose 1.04%. The Spanish IBEX 35 rose by 1.16%.
The euro was down 0.22% against the dollar at 7:39 am CET, selling for $1.02435. In comparison, the pound lost 0.24% to go for $1.19211 simultaneously.
Baha Breaking News (BBN) / JG
Happy hump y’al
Centamin’s Q2 numbers report,
scheduled two weeks from today!
"We are on the cusp of seeing Egypt's mining sector evolve. It's now time to be bold. We are quickly building confidence and developing a strong and thriving mining sector" - Martin Horgan, CEO, Centamin PLC
https://www.linkedin.com/posts/egypt-mining-show_egyptminingforum-emf-emf2022-activity-6949679400858587136-bHUq?
------------------------>>>
How is Centamin going to be bold?
Or is this advice for Egypt?
Or Barrick?
Or just life in general?
Personally I'd like management to boldly communicate to its shareholders first and foremost what the h*ll is going on in terms of exploration and drill results - instead of us hunting for breadcrumbs dropped on social media and via lowly Sukari mine employees.
All have their snouts in the trough
Mad day- S&P and NASDAQ ended GREEN after dropping over 2%, dow down a little... crypto up... the only thing that stayed down was gold...ftse futures up 1.04% as I type, but it damn well needs to after today... also oil down ~10% - 97
The sterling dropped to a new March 2020 low against the dollar on Tuesday following the news that both British finance and health secretaries resigned their posts.
Rishi Sunak and Sajid Javid separately sent letters to Prime Minister Boris Johnson earlier today, stating different points of view regarding governing the country compared to Johnson as the reason behind their decisions.
The pound fell 1.32% against the dollar to change hands for 1.19466 at 8:30 pm CET.
Baha Breaking News (BBN) / MM
Wait for the bounce back only lemmings selling into this drop..
Crikey, finance minister Rishi Sunak resigned today surely that is the death nail for Teflon Boris lol
yawn
The clown will soon be out.
Hi, I'm not sure if anyone has posted this yet.
https://www.thearmchairtrader.com/centamin-shares-recover-2h22/
Centamin’s principal asset, the Sukari Gold Mine, is a long-life, bulk tonnage open pit and underground operation located approximately 700km from Cairo and 25km from the Red Sea. It began production in 2009 and is the first large-scale modern gold mine in Egypt, forecast to produce more than 400,000oz per annum. Earlier this year Sukari produced its five millionth ounce, according to Centamin. The Sukari Gold Mine has a life of mine of at least 12 years, with eight years of underground mining and 5.8moz in proved gold reserves. Additionally, Centamin holds 3,000km2 of new exploration licenses across Egypt.
Centamin is also developing the Batie West Project in Burkina Faso (2.1moz inferred reserve), as well as the Doropo (5.3moz estimated reserve) and ABC (2.16moz inferred reserve) projects located in Côte d’Ivoire. Undoubtedly, Doropo is the largest of these projects, consisting of seven exploration permits, covering an area of approximately 1,850km2 in the northeastern part of Côte d’Ivoire. A PEA (Preliminary Economic Assessment) completed in 2021 has suggested that the project has the potential to average annual gold production of 207,800oz for the first five years, with a total life-of-mine of 13 years.
Why have Centamin Shares Fallen in Value?
Centamin’s share price has fallen drastically since it reached a record-high peak in August 2020, when the company’s stock was valued at 220p. Today, it is struggling at just under 80p a share, falling almost 25% in the past year. Although the macroeconomic headwinds witnessed throughout 2022 have played a part in Centamin’s stock price decline, some of the company’s operational failings have also been a significant factor.
In April, the Jersey-registered miner said that full-year profits had halved on the back of forecast lower revenue and impairment on assets in Burkina Faso. This has resulted in a return on capital invested falling from 19% five years ago to 11% today, well below the industry average of 15%. It is likely that this has put quite a few investors off the company.
What do Centamin’s Investment Prospects Look Like?
Centamin has a consistent record of financial performance with revenue and profit growth achieved consistently over the past half-decade. Since 2017, the company has always earned over $600m in annual revenue, together with a positive net income at least exceeding $50m. It is difficult to see this changing in the upcoming years.
Centamin also has no existing debt on its balance sheet currently, which gives the company a great deal of financial flexibility with regard to investments in future mining projects. Its dividend yield stands at 9.05%, further incentivising investors to purchase the stock.
With such high levels of inflation being seen in today’s economy, it is well worth considering investing in a gold mining company such as Centami
The prices of precious metals continued to decrease on Tuesday, with gold extending its losses beyond 2% and silver reaching a drop of 4%.
The fall followed the sharp declines observed by oil, stock markets, and the euro, which reflected concerns about the future of the global economy, which is heavily influenced by Russia's military operation in Ukraine.
Gold fell by 2.18% at 12:03 pm ET to sell for $1,768.57 per ounce. At the same time, silver sank by 4.01% to go for $19.18 per ounce. Platinum declined by 2.44% at 12:04 pm ET, selling for $869.45 per ounce. A minute later, palladium fell by 1.06% to go for $1,921.10 per ounce.
Oil futures prices continued to tumble, with West Texas Intermediate (WTI) falling below $100 per barrel for the first time since May 11.
Fears of a recession appear to indicate that demand for fossil fuels may be reduced further, while the European Union urged an agreement on the Joint Comprehensive Plan of Action (JCPOA) is reached soon.
West Texas Intermediate (WTI) for settlements in August dropped by 10% at 11:40 am ET, to sell for $99.62 per barrel. A minute later, Brent for September settlements plummeted by 9.38% to go for $102.92 per barrel.
Baha Breaking News (BBN) / AB
Thanks- it does really annoy me- past few years we have been funding their salaries and bonuses - the SP never seems to be on their radar- accept that markets causing issues etc at no, but even so doesn't ever make shareholders feel like we're part of the team
Hope so Tornado, from what is shown in the video the site is certainly looking so much better now!
Absolutely agree Steve, I have written expressing the need for some uplifting news!
Wow hoc taking a hammering down 11% so far