Roundtable Discussion; The Future of Mineral Sands. Watch the video here.
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But is CEY a solid mining company?
Goldgnome, spot on .
Nick
We have such an extreme level of misinformation in the world at our finger tips it is bewildering to know what to believe. I certainly do not believe anything from US media Giants and am very guarded against any news from government sources. Just recall the rubbish we were fed about the weapons of mass destruction, the continuing tragedy of regimes we had to change of which the changes produced significantly worse effects than the regime (Iraq, Libya, Syria, Afghanistan and so on........Which leaves .......me to thank goodness I live at the bus stop back from the end of the world in the Colonial Outpost of Ozstralia. It used to be that the news took about 3 months to come from the good Ol mother land, and now I wish those days would return?
It does seem we are flying into a perfect storm, with Europe, China and the United States all entering downturns at the same time later this year. A recession in Europe is almost inevitable if the war in Ukraine escalates or even continues for that matter, and Germany, which has been fiercely resisting calls to pull the plug on Russian oil and gas, finally relents. I hate to think what will happen in the UK, and I am not at all sure that we won't see a civil war of sorts in the USA, as we are just about there now. In Oz we have the usual vacuous and vicious set of spruiking which passes (only just?) for a democratic election, as we pile on mountains of empty promises on burgeoning debt intermixed with social obligations on an aging crippled society. Such is life.
Great time for gold and a solid mining company. Best not to be like the rest of the world and try and walk forward and plot a future when everyone keeps looking (and acting) backwards.
the gnome
Year-to-date US Mint #gold coin (Eagles + Buffalos) sales have totalled 696,000oz in October (+22% y-o-y). This is the second highest level on record, just 19% lower than the YTD sales in 1999.
https://twitter.com/KrishanGopaul/status/1521209049374732290
I think one needs to to consider why the the present sentiment towards Centamin?
1.A BOD that has failed to carry out their duties and responsibilities with due diligence
2 A BOD that has either been complicit condoned bad mining practice at Sukari
3.A BOD and NED;s that has failed to oversee the West African portfolio of exploration, development and exploitation to such an extent and in the absence of any company explanation or answers to the contrary possibly approaching $200 billion which has been chucked down the lavatory
4.A prosodial to take on a line of debt for future development which it seems has not been finalised as yet ingly why?
5 The failure to deliver on what is now revealed to have been known unrealistic and unsustainable Sukari guidance since 2015
6 As yet all that has been delivered is more assurances and promises on what it is hoped to be delivered in the future, although that is yet to be proven with physical results.
7 A legal challenge to the legality of the original Sukar concession that is yet to be ruled on in the Egyptian courts
8 A legal challenge to the withdrawal of the originally agreed fuel price subsidy that remains unresolved since 2014 ($25 million approx owed to Centamin)
9 A present share price of 91p and a pathetic target some time when of £1.25 and a dividend cut now of 50%
10 A failure to answer a considerable number of share holders questions!
Some considerable proof of real progress and improvement needed!
"All around Dubai we saw food getting cold on restaurant counters," Mr Labarang said. "It grew far beyond what anybody thought possible."
As a result, the Deliveroo app, one of the most popular delivery apps in the country, particularly during the final days of the Muslim holy fasting month of Ramadan, was largely down over the weekend.
Some drivers shared WhatsApp voice messages with the AP from their managers at contracting agencies, demanding that they return to work immediately and "don't involve yourself in any illegal activity".
Keenly aware they risk detention and expulsion for striking, drivers were quick to stress their protest was in no way political.
"We know the rules, we know it's sensitive, this is not against the UAE," said a 30-year-old ****stani driver named Mohammed, who declined to give his last name for fear of reprisals.
But he said he also risks his life each day, zipping around Dubai's dangerous roads without accident insurance.
"We are human," he said as he mounted his motorbike, returning to the grind in central Dubai after the strike. "We are not robots."
By Isabel Debre, Associated Presssource: PA
Copyright 2022 Alliance News Limited. All Rights Reserved.
* It's time the people realised that by using these firms they are encouraging the exploitation of workers and erosion of working conditions and rights !he world over and stopped using these apps!
Food-delivery drivers protesting against wage cuts and gruelling working conditions went on an extremely rare strike in Dubai over the weekend.
The mass walkout paralysed one of the country's main delivery apps and revived concerns about working conditions in the emirate.
The strike started late on Saturday and ended early on Monday, when Deliveroo PLC agreed in a letter to riders to restore workers' pay to GBP2.22 per delivery instead of the proposed rate of GBP1.89 that had ignited the work stoppage, as the company tried to cut costs amid surging fuel prices.
The firm also backtracked on its plan to extend working shifts to 14 hours a day.
Strikes remain illegal in the United Arab Emirates, an autocratic federation of seven sheikhdoms that bans unions and criminalises dissent.
Delivery workers in Dubai, who became a mainstay in the financial hub as demand boomed during the pandemic, have few protections.
To reduce costs, companies like Deliveroo outsource bikes, logistics and responsibility to contracting agencies – a labour pipeline that prevails across Gulf Arab states and can lead to mistreatment.
Many impoverished migrants are plunged into debt paying their contractors exorbitant visa fees to secure their jobs.
"It is clear that some of our original intentions have not been clear and we are listening to riders," Deliveroo said in a statement to The Associated Press.
"We have therefore currently paused all changes and will be working with our agency riders to ensure we have a structure that works for everyone and has our agency riders' best interest at heart."
The food delivery service is valued at more than GBP6.37 billion.
News of the pay cut at Deliveroo, announced internally last week as the cost of fuel soars amid fallout from the war in Ukraine and continuing supply chain issues, was devastating for 30-year-old driver Mohammadou Labarang.
It was the last straw, he said. Already, he was paying for the UAE's unprecedented fuel prices out of his own pocket and was barely scraping by, with a wife and seven-month-old son in Cameroon to support.
When Mr Labarang logged on to social media, he found he was far from alone. Soon, he said, hundreds of Deliveroo drivers were mobilising on Telegram and WhatsApp.
Dozens of drivers parked their bikes by various Deliveroo warehouses in protest, according to footage widely shared on social media.
Some shut down their apps. Others rested at their accommodation and refused to work. Others went to restaurants and urged fellow couriers to stop mid-shift.
All around Dubai we saw food getting cold on restaurant counters," Mr Labarang said. "It grew far beyond what anybody thought possible."
cont
I ponder cutting each of my stocks and the ride on Centamin has been a bumpy one. I banked some great gains in 2020 but bought back on pull backs.
I have decided to stay my hand and kept my holding and offer some thoughts on why:
MACRO FACTORS:
1. Gold - Gold has proven itself against usurpers (Crypto) as a store of value
2. Costs - Gold mining has become expensive. I can see a fast approaching curtailment to supply as fuel costs, people costs and other inflationary factors mean the AISC rapidly rise. We've seen in CEY's recent results, but it's not unique to CEY
3. QT - Stagflation is bullish for gold. TINA - there is no alternative. This still stands even in today's world of increasing interest rates. Why? Because as rates rise bond prices fall. You are guaranteed a loss if you stay in cash or in bonds. Yet stagnation will hurt growth stocks and profits. A store of value such as gold in these circumstances? TINA.
CEY MICRO FACTORS:
1. A rubbish 2020 and 2021 and sentiment is sharply against CEY. Sentiment is illusion. Fundamentals are fact.
2. We will see solar energy come on stream H2 2022. This will help moderate AISC.
3. Defined resource - there is a decent life and resource increases both at Sukari and in time elsewhere.
4. Good yield. Currently 7.7% by my reckoning (IC think it's 7.5%).
5. Decent EPS growth 2022 and 2023 of 15-16%
6. 11 analysts with median price target of £1.25/share (6 outperforms, 4 buys, 1 hold)
So this has been my rationale to hang in and am comtemplating an increase here too, especially on any drops under 90p
IFAW sends help to the Ukrainian peoples pets!
At IFAW's "blue tent" we recently met a refugee named Viktoria who was touched by the care she received from our team. After fleeing from the Kharkiv region with her daughter Sofia and their three dogs, she arrived at the IFAW tent after a day of traveling. To our surprise, one of her dogs, two-year-old Jessie, was pregnant with her first litter of puppies—and just 10 days away from giving birth. After Jessie was examined and found in good condition, we provided the family with carriers to comfortably transport Jessie, along with new leashes, harnesses and water for the journey ahead.
https://www.ifaw.org/uk/news/support-animals-ukraine?utm_source=SFMC&utm_medium=email&ms=KONDN220440002&cid=7013k000001aBVv
IFAW has provided an emergency grant to the Ukrainian Independent Ecology Institute to support food, veterinary and staff costs. For over 20 years, the institute’s bat rehabilitation center has surveyed and protected bats in Ukraine. Despite the ongoing war, brave rescuers continue to rescue, rehabilitate and release bats. Many of their bats were in hibernation when the war started and, amazingly, undisturbed by shelling and heavy artillery. The team said nearly all the bats hibernated perfectly and woke up ready to be released.
Spoonington, you will agree dogs are amazing!
Ricky Gervais talks to JOE about his new Netflix show After Life, why dogs are the best thing ever, tackling taboo subjects, swearing, dying and assisted suicide, and more dogs.
https://www.youtube.com/watch?v=IUtQ9y5wDus
Dogs Over Gods
https://www.youtube.com/watch?v=AuuEuylPCiE
Hi Spoonington
You may find this interesting it explains some misconceptions about NATO
https://www.youtube.com/watch?v=luzAoQUM8Kg
Although I Putin's real reason for invading Ukraine is his need to divert the Russian peoples attention away fro his corrupt business empire and to try and convince them that they are better off under Putin's style of oppressive dictatorial government
"Putin needs a victory," said Andrei Kortunov, head of the Russian International Affairs Council. "At least he needs something he can present to his constituency at home as a victory."
https://www.bbc.co.uk/news/world-europe-56720589
Unfortunately the UK UK is really under occupation of the US air force disguised as RAF bases
https://cnduk.org/resources/military-bases-us-bases-in-the-uk-and-uk-bases-overseas-what-they-are-and-what-they-do/
Plans to close a US Air Force (USAF) base have been scrapped.
RAF Mildenhall in Suffolk had been due to shut in 2027, but has now been deemed "crucial to operational efficiency" of US forces in Europe.
The decision follows President Donald Trump's announcement of the withdrawal of almost 12,000 troops from Germany
https://www.bbc.co.uk/news/uk-england-suffolk-53606937
Hi, Tibbs thank you for your wonderful words. I have great enjoyment reading them. How your words remind me of my youth, the park near our house, the loneliness after my mother died from cancer at 35 leaving 3 small children and someone who had issues raising them. He was a someone who had lost all his relations and dad who lost his soul in the war but he couldn’t complain as the whole town had gone through that.
IMHO life is all about mental fighting and education to give you the freedom to live the best life you can get. Some people have millions and others don't but if you can do your best then you can be proud of who you are.
GLA. Off to the garden again and all I wish for is rain now. lol.
Hi Spoonington – ‘My proof is what I see with my own eyes.’ Did you know that your eyes only see 20% of what your brain processes the other 80% is from your semi-conscious mind? So unfortunately that says nothing to me or answers the question totally depending on how it’s presented.
I’m NO huge fan of the USA and don’t trust them as I believe they don’t trust us. (We’re the only country who’ve walked in and set alight the Whitehouse). This is why it is such a stupid comment about the USA letting Ukr mess around with biological and chemical weapons. Would they trust a country where there are hundreds of RUs running around in the country? NO!!
I could talk/argue/discuss with you for hours but I don’t have the time in my life. You forget to mention why everyone fell out after the WWII because USSR would not give the countries back to their inhabitants and there were fears USSR was going to keep going forward and take more. If it was TRUE companionate communism, people may have had other opinions BUT in 1932 RU made ‘Holodomor’, 3-5 million deaths & many millions more suffering starvation. Ru treats the Ukrainians as second-class citizens which is why today the rape/pillaging’s etc by their soldiers. It is saying one thing and doing another in the RU hierarchy that people like myself/a lot of the world have problems with. I know in the RU people think the streets of the UK are paved in gold as some people think in the RU people still queue for bread and wear grey clothing. Both are TOTALLY incorrect.
Why have Lithuania, Latvia, Estonia joined NATO – talk to the people from these countries. Yes, they miss USSR but they are in the same position as Ukraine they have a large portion of RUs in their country. Fine but they don’t want an excuse from RU to take them back to the 1950s. They want freedom through hard work to control themselves, maybe even make mistakes but by hard work, they’ll try to make their lives better. Something they could not do is the USSR except when sleeping with the hierarchy.
As the people of RU have to do today and if you want another story of what I’ve seen, I’ll tell you about that.
I’ve been to Cuba and talked with the people there, another great country. How they look forward to being able to develop themselves as communism is relaxed and by hard work, they can make their lives better.
Let us hope gold raises and CEY moves up. Thank you for all the people working so hard here giving us information to help us ALL.
AIMHO and DYOR
Hi Nick,
Thank you for the reply, we can always learn something from other people we meet in our journey through life, the vast majority of people I have ever met were friendly, welcoming and share the same ambitions and concerns about life and our planet, Unfortunately its when the professional career politicians get involved that things start to go wrong!
Wealth for its own ends doesn't impress me in the least, its what is done with that wealth that matters, and in my experiences the people who have the least are usually the most generous the world over!
As very young lad I spent a great deal of time with my retired grandfather, still a poor man living in a two up, two down rented terraced house with only a cold water tap, an outside water closet, electricity by two light fittings, only gas supply downstairs, despite him being a former highly skilled clicker, shoemaker and decorated WWI veteran
His accounts to me of his life's experiences still continue to be a major influence in my attitude to life and my passion for the truth and fairness, respect and compassion to be shown to all of our world and all of its inhabitants!
I hope that you mange to have a listen to the broadcast below, it certainly reminded me of sitting with my "Pap" by the fire, or on the"Form" (park bench) by the "Crying Horse"WW1 war memorial in the local crematory where we would share the boiled sweets (Stripes)out of the little paper bag bought on the slate (credit settled on Fridays) from Mini Cauldwells corner shop!
The Ballad of Johnny Longstaff
Released On: 01 May 2022
Available for over a year
Award-winning north east folk band The Young'uns - Sean Cooney and David Eagle with Jack Rutter (for Michael Hughes) present their production of The Ballad of Johnny Longstaff, recorded in front of a live audience in their hometown of Stockton-on-Tees. It's the true story of one man's journey from unemployment, through the Hunger Marches of the 1930s, the mass trespass movement and the Battle of Cable Street, to fighting fascism in the Spanish Civil War. A touching and often hilarious musical adventure, its themes of war, hunger, poverty and displacement have a powerful resonance almost a hundred years on.
https://www.bbc.co.uk/sounds/play/m0016rh2
Hopefully the experiences of hardship that the UK people are now forced to endure under the present government will inspire them to question what they are told in the future by party political candidates and what they choose to believe before they vote for next time!
Thank you very much for your reply Mr Tibs there are lots of interesting and thoughtful comments.
They remind me of the 2 hr chats I used to have with a close friend who was 20+ yrs my senior, note I’m not saying you are that old. We’d enjoy our tea/coffee and go round in circles with Politics, Religion and world events. In the end, we’d come up with the conclusion that ‘there’s nothing as strange as folk!’ Even factual(?) written history has to be taken with a pinch of salt as it depends on who’s written it and WHY! Enjoyable debates are the best way to try and find some sort of answer and there never really is just one. Also, you have to have LOTS of free time and that's something I find difficult to find.
All the committees, charities, etc I belong to are all wary of me as I shake the cage by asking difficult questions because my views are different with me giving my time freely and they’re getting paid. However, I do realise I could not do what I wanted to do without the paid person so I HAVE to compromise.
I live with an Icelandic family for a bit, in the middle of nowhere. His job was to breed salmon fry and restock the rivers for the USA fishermen, (big money). They are very interesting/different people to the UK lot, (another country I’d loved to live in) so I’m not surprised at the interesting articles you brought up.
Thank you for your thoughts and for reminding me of my younger day.
Hi Nick
My proof is what I see with my own eyes, I prefer to rely on that rather than accepting the spoon-fed opinions of any media organisation - they are all biased and one-eyed no matter which end of the spectrum they toady to.
The US expansionary policy has been in place since WW2 - think of Korea, Vietnam, Cuba, Chile, Iran, Iraq, Afghanistan, Libya, Syria and so and so on - anyone who dares to not tug the forelock to US supremacy pays the price!
Is the US ever condemned for its illegal & attrocious acts, does the world come out & impose sanctions? The answer is no because the major international bodies such as the UN, Nato, IMF, World Bank etc. are all controlled or heavily influenced by the US through economic or other forms of coercion and/or blackmail.
Recently there has been great consternation over China executing a co-operative agreement with Solomon Islands as the Western world fears this will lead to potential military bases - why is there no concern that the US has around 750 military bases spread throughout the world?
As long as the US continues to receive support for its abject hypocrisy we will be pushed forever closer to a nuclear conflict which will screw us all - we got close with the Cuban missile crisis, the US saw it as all OK to stick their nuclear missiles in Turkey right next to Soviet territory but when the Soviet Union responded in kind & put missiles in Cuba they crossed a red line!
I could continue on ad-infinitum about the injustices the US has inflicted on the rest of the world militarily, economically & socially in order to benefit themselves & their vested interests but fear my rant does not really belong on this forum - it is just a response to your valid question.
I do not support Russia's invasion of Ukraine in any way, shape or form but by the same token I believe that the US should accept responsibility for creating the situation. There was no sensible reason for Ukraine joining Nato, it was a foolish & provocative act backed primarily by economic interests which, unfortunately, is par for the course when it comes to the US.
How Ricky Gervais Feels About The Ukraine Invasion
44,038 views17 Apr 2022
https://www.youtube.com/watch?v=db_OPVvtaX8
8 Nov 2019
The former Soviet leader Mikhail Gorbachev has warned that current tension between Russia and the West is putting the world in "colossal danger" due to the threat from nuclear weapons.
In an interview with the BBC's Steve Rosenberg, former President Gorbachev called for all countries to declare that nuclear weapons should be destroyed.
https://www.youtube.com/watch?v=qYVsKoQXATY
Eddie Izzard Wants To Be An MP & Has A Passionate Plan To Get Into Politics | Lorraine
https://www.youtube.com/watch?v=pP2iRzjALZ8
Eddie Izzard Is Seriously Seeking Public Office
https://www.youtube.com/watch?v=rbXDm34n3rw
Bill Bailey on Differences Between UK vs Europe | Bewilderness | Universal Comedy
https://www.youtube.com/watch?v=AAwcdnnvyQk
In Britain we process happiness... differently, Bill Bailey - BBC
https://www.youtube.com/watch?v=V7d79Knc8p4
Bill Bailey On England Becoming A Joke Country | Universal Comedy
https://www.youtube.com/watch?v=F6Dt6uvET6A
Ricky Gervais on War, Racism and Stephen Hawking
https://www.youtube.com/watch?v=6ktBQ51iGWw
Ricky Gervais on Sleazy Tories | POLITICS | Universal Comedy
https://www.youtube.com/watch?v=BEKULtRhzAA
Ricky Gervais On Hitler's Ideology | POLITICS | Universal Com
https://www.youtube.com/watch?v=9CINep9Gqhk
https://www.nme.com/news/tv/ricky-gervais-rips-into-tories-on-livestream-3125524
Hi Nick,
I also like the ordinary average Russian people, they aren't to blame for attacking Ukraine, they don't want war any more than most ordinary people the world over, unfortunately they aren't being told the truth by their state media because it is controlled by a corrupt and oppressive dictator Putin who has surrounded himself with cronies and yes men (oligarchs) who have done a Judas Iscariot on honesty, integrity and decency in return for being made obscenely rich as front men for businesses that Putin has ultimate control over!
I have great admiration for the Ukrainian people and their president, I must admit I would have never believed that they could put up such fight, but then they are fighting for the freedom of their country against a corrupt dictator and oppressor Putin who has never ever been elected fairly!
When Mr. Zelensky debated Ukraine’s incumbent president Petro Poroshenko, he was accused of being an “unworthy opponent.” He fired back: “I am not your opponent! I am your verdict!” Strong line, with an element of truth in it, too. Plus, it probably sounds funnier in Ukrainian!
The idea of comedian leaders might not be as laughable as some might might think.
After all, the phrase "Is funny because it’s true! "
Every successful comedian has an element of truth in their comedy.,
when Icelandic comedian Jon Gnarr ran for mayor of Reykjavik in 2010 and created his own party, The Best Party, it began as a joke until the people realized that a new party might in fact be the best option, and Mr. Gnarr’s sincerity and honesty – unprecedented qualities in politics – were rewarded with the mayor’s seat in Iceland’s biggest (only?) city from 2010 to 2014.!
Jon Gnarr oversaw serious matters such as a major restructuring of banks and public-sector cutbacks during his time in office!
I would certainly prefer a comedian as UK prime minister in preference to Boris Johnson who led a Brexit campaign based on lies and was also elected on a manifesto of more even more lies and now has presided over one of the one of the most corrupt and undemocratic administrations in UK history.
Mr. Zelensky is certainly no clown or puppet and has the support of his electorate,in compariosoin Johnson is an evil Joker who lacks integrity and is increasingly despised by the electorate and certainly regarded as clown on the world stage!
Eddie Izard, Bill Ballie and Ricky Gervais would all make excellent politicians, even prime ministers!
Jumped back on board last week at just under 90 pence per share. Haven’t done well in the past with CEY twice, but tucked these away in my SIPP, so it’s going to be third time lucky I think. In for the long haul now.
Well said Nicky you added to the main meal significantly.....
As they say, stay away from politics, religion and football.
Here's hoping the next report will start to show real improvements. Bests to all and thanks for cowichan for his terrier like qualities and all for the informative chat
Hi, Mike some great words and thoughts.
Spoonington that is a very strong statement you have about the USA, what none RT proof do you have?
“… it seems quite obvious the US intended to cause a conflict in Ukraine using the puppet comedian to do their bidding …”
This war/initiative has been planned for many years.
In Feb 2000 the military took control of Chechnya but it took until 2017 for total control. In August 2008 they took Georgia, even after USA promises of help which Georgia never got. USA thought they could work with VP but he’s been laughing at them for their weakness for some time.
In 2014 it was Crimea and the start of the paid(?) revolution in Ukraine, it’s VP method of getting an excuse to roll in the tanks and it happens every time. Moldovia will be next.
Gnome I understand the USA companies are making money and the USA public will be paying for it in their taxes as it’s not free money. What options does Ukraine have but to accept the help of the USA and EU? There are only 2 choices, you submit to the bully or you fight him!
I personally love the Russian people as they're great to have a chat and laugh with. I was never great at their Rubbles change so got a pocket full of cash in my hand and they took what they needed. I totally trust them. I do read/watch both sides and know clearly that many of the West articles can be exaggerated but we do that to our own politicians so what's new! Everything you take with a pinch of salt.
However, there are LAWs in the world trying to make life better for everyone. Why cannot the ordinary Russian person have that? Invading a country on some grandiose fabricated scheme is not a law the world wants, so we have to somehow stop it? How can we do it peacefully I do not know. I am very unhappy about all the deaths and want everything to stop ASAP but at what price to Europe and the world will this mean?
Those who support VP's way, NOT the Russian people's, tell me your method of stopping the war!
Unfortunately, the question who invaded who......and ultimately two countries so far are paying the price which I never expected to happen. Its not to say USA or Nato could not have done things differently. Any it is so sad and always those that make money. Anyway, I try not to do politics...
Onto other matters Goldman Sachs predicting gold 2500 dollars by the year end Telegraph....we have all been waiting for this for this for a decade plus
Yes Gnome, it seems quite obvious the US intended to cause a conflict in Ukraine using the puppet comedian to do their bidding & further line the pockets of Raytheon, McDonnell-Douglas, etc. Even if Putin didn’t take the bait they would have got another NATO member forced to devote a percentage of its GDP to the same crowd.
We may well benefit from a fairly likely strengthening of gold price but the ordinary Ukrainian & ordinary Russian citizens will pay a ludicrously heavy price.