George Frangeskides, Chairman at ALBA, explains why the Pilbara Lithium option ‘was too good to miss’. Watch the video here.
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The last quarterly report can be pulled down from an April RNS.
The SP performance in recent week is not about the company per se' in my view. It is an over-reaction in the markets to the gold price and the media push that rising rates are bad for gold. This is course would be true is the real rate was positive which, of course it is not. So even when the 10yr UST note spikes to 3.49% the real rate is still -5%. Gold has yet to react because market commentators hang on to powell's every word with future rate raises. My own view remains that his analytics of the inflation problem is just rhetoric and that real negative interests will remain and be as embedded as they have been since 2008. Even is the 10yr UST hits 5% and bankrupts the US Government and causes a recession the real rate will still be negative on the supply inflation problem for some time. Hence why 65% of my PF is now gold related and raising on every fall in the spot price. Too much negative sentiment on this stock in my view, yes it has been a busted flush in many ways for LTHs but I think it will be a success in the medium term. I might be in the minority here but the fall in US housing figures and builds just reported backs up my view that powell will have to turnabout and gold will does what it should do.. re-rate up. GLA
Is this it? Posted yesterday on the cey website
https://www.centamin.com/media/2832/cey-investor-presentation_150622_final.pdf
Hi Tibbs - I can absolutely confirm the breadth and depth and volume of your direct communications with Centamin. - Communications that you undertake on everyone's behalf. - I think if people knew just how much time and effort you put into maintaining direct links here, they would be shocked. - We all owe you a debt of gratitude IMO.
Hi Tornado,
No reply here and Rebess & Cowichan can confirm that this certainly is'nt the only subject I have written to them on, or spoken to them about.
Very disappointing to say the least, I do hope that more retail investors will start writing in , I am considering following Cowichan's example on Linkedin as it seems this is more likely to get an almost instant response, although that said just how much meaningful information is disclosed remains to be seen.
When Martin Horgan first took over there seemed to be a genuine intention and willingness to try to improve communications with retail investors, whether that is still the case remains to be seen.
(Obviously I appreciate that there are certain restrictions regrading market sensitive which can only be released within the FCA regulations and at the appropriate times.)
Jim Cramer seems to think gold will be making a come back. Let's hope so. Looks like a lot of the gold stocks aren't doing so well now so hopefully patience will pay off. I've topped up a bit recently.
https://www.cnbc.com/2022/06/15/take-advantage-of-golds-impending-comeback-with-this-best-of-breed-stock-cramer-says.html
The political world is descending on Wakefield and Tiverton and Honiton.
Journalists, campaigners, and frontline politicians are knocking on doors, asking residents what they think.
Many of us aren't in these two constituencies.
https://www.makevotesmatter.org.uk/votes-are-for-life-not-just-for-byelections?link_id=2&can_id=7912b55e72d6174409e36b7a8226a78d&source=email-join-us-in-demanding-an-end-to-unequal-votes&email_referrer=email_1573866___subject_2040154&email_subject=join-us-in-demanding-an-end-to-unequal-votes
https://uk.finance.yahoo.com/news/five-stocks-must-sell-because-050000050.html
“What is now clear, based on the significant increase in returns rates that we have seen, is that this inflationary pressure is increasingly impacting our customers shopping behaviour. It is too early to tell for how long the current pattern of customer behaviour will continue.”
https://uk.finance.yahoo.com/news/ftse-100-live-bank-england-064946160.html
I agree with the rip-off. I cycled past a forecourt about 3 times a week, and again yesterday I saw a rise from 183 to 189! It's never ending and yet oil base price doesn't go up the same amount- someone, somewhere is making fortunes, it's like just add cos people know inflation is rising...
The head of Britain’s fastest-growing petrol forecourt operator has accused supermarkets of profiteering at the pumps as prices leap to fresh highs.
Mr Briggs welcomed a competition inquiry into forecourt pricing, yet criticised Boris Johnson for making petrol station operators a “scapegoat” of the ongoing energy crisis.
He said that the amount of verbal abuse directed towards his staff had risen since the Prime Minister pledged to crack down on “rip-off” prices at the pumps.
https://uk.finance.yahoo.com/news/tesco-sainsbury-morrisons-asda-accused-090058402.html
Gold only 3% off its sterling all time high, of course needs to make up about 12% inflation since then, so about 15% off high so IF Cey got costs back to just 15% of where they were, and production back where it was profits would only be down 50% from when gold was at all time high, so share price should be back up above a pound, so come in Centamin we are waiting for the promised lower costs and extra ounces afte this crazy two years
we look forward to updating you on the progress of these promising growth projects and the continued expansion of the underground resource base, including the high grade bonanza zones, during Q2.
Last two weeks of Q2 where is it!
Does anyone get any replies from this lot.
Major stock markets across the European continent saw some gains in the premarket trading on Thursday as investors digested the Federal Reserve's unexpected move to increase its key interest rate by 75 basis points.
The British and Swiss central banks were also set to announce their rate decisions later today, while Italy was expected to unveil the latest inflation data.
The FTSE 100 stood slightly in the green at 7:23 am CET, while the DAX gained 0.41% and the CAC 40 rose 0.54%.
The euro recorded slight losses against the dollar at 7:38 am CET to sell for 1.04338, while the pound declined 0.33% to $1.21383.
Baha Breaking News (BBN) / ND
Goldman Sachs have target on gold price of US$2,100-2,300/oz over next 3-6 months. This is down from the previous target range of US$2,300-2,500/oz for the same period. I REMAIN INTROGUED AS TO WHY NONE OF THESE LEARNED INSTIUTIONS IGNORE THE LACK OF SUPPLY SIDE FROM LACK OF EXPLORATION SUCCESS, AND IT IS GETTING WORSE EVERY DECADE ! THIS LACK OF SUPPLY FROM DISOCEVRY WILL IMPACT THE MARKET, AS IT AFFECTS THE SUPPLY/DEMAND SIDE. ITS THE REASON LARGE COMPANIES WHO CANNTO REPLACE THEIR RESERVES, YEAR AFTER YEAR, SUDDENLY DECIDE TO GO AND DO SOME M AND A...AND REPLACE THEIR RESERVES. AND THIS WILL HIT THE MARKETS OF THE FUTURE. ANYHOW CONTINUE
https://www.mining.com/web/wealth-shock-delays-gold-bull-market-as-goldman-revises-targets/?
Gold has been hit by a large “wealth shock” on the back of a weaker yuan following the economic impact of the lockdowns in China, the world’s largest consumer, according to Goldman Sachs Group Inc., which revised its price targets. Still, the worst may be over, it added.
The ongoing food and energy crisis and rising US rates have also seen other emerging market currencies under pressure, analysts including Mikhail Sprogis said in a June 14 note. This negative wealth effect for bullion has been further compounded by liquidation of short-term-oriented futures and exchange-traded fund positions, which are sensitive to trends in the dollar, they said.
Bullion has dropped more than 6% this quarter on rising bets that the Federal Reserve will be more aggressive in its monetary policy tightening path. Goldman economists expect two 75 basis-point hikes over the summer, which could sap US growth (not if you believe the Fed ?!) , add to fears of recession risks and boost gold investment demand.
“The wealth shock appears to have peaked, and we expect a rebound in emerging market gold demand in the second half of the year,” the analysts said. “In the absence of a large liquidity shock, we view current gold price weakness as a good entry point.”
The bank kept its upside outlook for the gold price but delayed the path by revising its three- and six-month targets to $2,100 and $2,300, from $2,300 and $2,500, respectively. The 12-month target of $2,500 was unchanged. Spot bullion was at $1,813 on Wednesday.
Russian domestic gold production will stay inside the country as it faces a surplus of dollars and its central bank aims to prevent excessive appreciation of the currency.
Given limited options for investment in foreign assets, the purchase of domestic gold output seems like one of the easiest ways to prevent excessive ruble strength.
Global central bank demand is still on track to meet bank’s forecast for 750 tons in 2022. Whay are they soaking up the barbarous relict of the past again, which pays no interest?
Oh well, good luck to us all
the gnome
In other words Fed rate hikes won't keep up with inflation which should be great for gold.
Nice gold bounce, let's hope so can follow and get done if my 50% loss back and 35% loss on HUM
75bp but target 3.4% by end of 2022 isn't that hawkish and pog seems to agree.
Hi Cowichan,
Pity that they intend trading through that bunch of stinkers the LBMA!
THE GOLD HUB
Overview
In line with The Government of Egypt (GoE) and Ministry of Petroleum and Mineral Resources (MoPMR) mandate for developing and best utilizing the mineral resources, MoPMR is looking to develop its gold mining sector through a study of developing “The Egyptian gold Hub” in the Eastern Desert for the upstream component of the gold value chain, from exploration through mine production to refined metal. The hub shall serve gold mining activities by availing specific gold mining services, and encouraging project owners to source services from local enterprises. The GoE’s vision is to use the gold Hub as a platform to attract private sector investment into the region, private service companies would have the base facilities and infrastructure to serve the growing gold sector in Egypt.
Hub concept
The World Bank (WB), with funds from Extractives Global Programmatic Support (EGPS), is supporting the GoE by providing the advisory services and analytics for the high-level master plan for a Gold Hub in the Eastern desert. “DMT Consulting Ltd Engineering & Mining Services” is conducting the study that is expected to be finished end of July 2022. The study will include the cost-benefit analysis of the Hub, develop a phased strategy for its implementation along with relevant expenditure and the promotion strategy to investors The hub shall consider the following key characteristics:
Define industrial, educational and residential zones within the Hub;
Refinery: First international accredited gold refinery in Egypt,to complete the value chain for gold production and qualify the produced gold for direct global trading through LBMA.
continues here :
https://www.egyptminingforum.com/conference-programme/project-spotlight/2022/companies/the-gold-hub/
posted 7 hours ago
Ministry of petroleum, Egypt is delighted to announce that the Egypt Mining Forum will take place at Sky Executive Resort in New Cairo on Monday, 4 July 2022.
The high-level Forum will focus on:
1. Egypt’s latest mining bid rounds
2. Opportunities for international investors in the Egyptian mining market
3. Global outlook for phosphates and fertilisers
4. Green mining strategies
5. International mining and minerals trade and supply chain
The forum is by invitation only, learn more about the participation criteria here: https://lnkd.in/diRxKcQH
https://www.linkedin.com/posts/egypt-mining-show_egypt-mining-forum-2022-activity-6942787624449245184-P2CD?
----------------------------------->>>>
then I posted the following question:
Will Egypt's gold mining royalties be finalized by then? The government of Egypt cannot expect foreign investors to wait and wait and wait. It's already been a decade of wasted opportunities for Egypt's mining industry -
Barrick Gold Corporation Centamin PLC B2Gold Corp. Altus Strategies Endeavour Mining The Egyptian Mineral Resources Authority The Egyptian-British Chamber of Commerce
---->>
then an employee of the EMRA responded :
We hope that !!!!!
Ahmad Mohammad
Senior Exploration Geologist at Egyptian mineral resources authority? Membership in The Australian Institute of Mining and Metallurgy
----------->>>
So who knows, maybe this event on the 4th of July will also bring some BIG news
I'm back again with another tiny purchase at 77.37p + costs today.
Decided it was time to ditch my remaining 60% of POLY, as the sentiment with that one not improved at all.
So moved from one gold miner (POLY = very high risk/reward) to CEY (a serial under performer.)
Now got an average cost of 81.5p all together.
Not looking for miracles (when it was £2), but a more modest 100-120p.
Fingers crossed it turns a corner.
GLA - C
PS. Let's hope the New Branding update for CSDI comes to fruition LOL
Nunquam
Just so you dont think you are alone ...
And while inflation is going up, Flatt says that’s a positive for Brookfield, which he says owns a portfolio mainly made up of real assets – or, as he calls it, stuff.
“If you think of our business in general, we own real, backbone things. Toll roads, pipelines, office buildings, retail centres, renewable energy plants, transmission lines.
“The simplest way to think about it, there’s a positive impact to them to the cash flow margin with inflation.”
Flatt explains it this way. Think of a poles and wire business in the energy sector, which Brookfield buys, safe in the knowledge the revenues it will receive are linked to inflation.
Because Brookfield spends a lot of money upfront, its ongoing costs are lower. So, as inflation rises, it gets 100 per cent of the benefit on the revenue side, but the inflation hit on the cost side has been minimised by Brookfield’s big upfront spend. The result is better margins.
Not only that, but where Brookfield might have expected the poles and wire business to grow revenue at 2 per cent, it is now compounding at a higher rate thanks to inflation.
“That’s the simple concept across our $US700 billion worth of stuff,” he says. “Everything’s not perfect, but 80 per cent of it is probably positively impacted in some way by positive inflation.”
Another reason Flatt is relaxed about the economic downturn he predicts is that it should make it easier for Brookfield to act as a classic contrarian investor and buy assets at more attractive prices.
“The last two-and-a-half years were tough. We bought things, but there was lots of money around with lots of sponsors and everyone could borrow money. Therefore, there was no way to differentiate yourself.
Bruce Flatt says the coming recession should be seen as part of a bigger business cycle.
Brookfield CEO says recession coming, but rates still low
“Today, that’s different. Credit is harder to come by. Banks are only lending to some people. Capital markets are differentiating between good sponsors and ones that aren’t good sponsors or aren’t seasoned sponsors. So, this now is the time which favours us. We will find better deals now.”
Indeed, Flatt believes Brookfield’s position heading into a difficult environment will be helped by what he sees as a contrarian approach during the boom.
“When everyone else wanted to put their money into growth businesses at 200 times revenue, we were buying insurance assets at book value, or less than book.” ME TOO
RELAXED AND COMFORTABLE. PLUS A LIKE AN EXPOSURE TO GOLD, AND MINERS ...
the gnome
US retail sales down ... oops.. gold getting a nudge :)
:-) the share price is only transitional.