The latest Investing Matters Podcast episode featuring Jeremy Skillington, CEO of Poolbeg Pharma has just been released. Listen here.
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Is this potential bad news?
Major stock markets across Europe stood mostly flat ahead of Thursday's session, with investors waiting for the latest PMI data set for release after the opening bell. Meanwhile, German flag carrier Lufthansa reported its fourth-quarter earnings results.
The DAX gained 0.16%, while the FTSE 100 and the CAC 40 traded flat at 8:06 am CET.
The euro lost 0.20% against the dollar to sell for1.11046, while on the other hand, the pound gained 0.11% to $1.34164.
Baha Breaking the News (BBN) / ND
The newest 'poke around' guys checking me out on LinkedIn:
Dimitrios Zouzias, PhD 2nd degree connection2nd
Consultant Geologist in Mining&Metals | Equity Researcher
https://www.linkedin.com/in/dimitrioszouzias/
M&A ADVISORY & CAPITAL RAISING
NRG IS COMMITTED TO PROVIDING HIGH QUALITY ADVICE AND TRANSACTION SOLUTIONS
Our understanding of the industries where we operate enables us to engage with clients during all stages of the life cycle, and our in-house technical and operational advisory capability provides the skillset needed to optimise the potential returns of a project and / or the value of a mature asset. This, combined with our global network and A&D experience, enables us to deliver high quality advice with regard to financing solutions, joint ventures, asset divestments, the appraisal of investment opportunities and acquisitions.
http://www.nrgcapitalpartners.com/advisory/
And then a new Centamin LinkedIn reply followed (a day or so ago):
"Don Lawson, the Company have not made any false statements. We have clarified this point with you several times but if you have any further questions, our offer still stands to arrange a call."
https://www.linkedin.com/feed/update/urn:li:activity:6904372198862393344
--------------------------->>>
My Thoughts:
Maybe it's all connected?
Also, while I do appreciate the offer to talk with Centamin - management could just choose to unambiguously answer the outstanding questions re: the missing HiSeis data and the suppressed (vs not suppressed?) multi-deposit discovery.
They is zero chance of this SP being below 100 if gold hits 2000 like you say- zero.
"overbought" technicals etc mean nothing in a commodity driven stock.
However, if results are poor or a dodgy RNS appears, that's a different matter.
Hi Hedged,
It is possible but with miners the movement in the underlying commodity is a key driver. I take CEY's recent upward trend as being due to gold's solid performance of late. If gold stay north of 1920 I would like to think we will stay north of 100. Having said that CEY is always quasi impossible to call.
Best wishes,
Prof
Technically, this is overbought and will fall back below 100, potentially to 94. If Gold can remain above 190p and head to 2000 the CEY will bounce off 94.
I think it was back in June on another LSE board, don't know if it includes all LSE boards but hasn't posted anywhere here since, I see his penultimate LSE post was on EUA when he was rather disparaging about the share and its then market cap, it looks like it is now about three fold lower, he can be found over on the ADVFN boards including Tharisa and currently appears keen on Evraz for the brave
I hadn't realised either. - That's a pity. - How does he get unbanned?
Hi Sotolo,
Didn't realise Tiger had been banned from this forum?
Yep Halfpenny- hopefully gaining pace now
Just a reminder that the cey sp can and does rise rapidly just looking at the past chart, if you're out you'll lose out.
https://total-market-solutions.com/2022/03/guest-interview-vol-14-doc-holiday/
i'm heavy PMs, have been for some year now for many different reasons. if institutes choose to buy then back to the average mean of 1.5% invested in PMs against all asset classes will push the prices forward massivley. i think for many reasons including now a commodity run and inflation coming through massively we are going to see high inflation and urkraine has a long way to play out
Thank you Viable, I continue to think Tharisa is a well run and undervalued company, though who knows where Platinum group metals will go, as fear and a coming recession fight it out. Happily the market is catching up, and it is up 60% in little ove 3 months, and this week just passed its old all time high so hopefully in blue skies, somewhat making up for my Centamin losses. However my interest is entirely thanks to a most informative post here a year ago by Tiger on the Tail, sadly banned from LSE for his honesty, a bit like in Putin’s Russia. I for one miss his posts here, along with the likes of Uncertain, and other appreciated stalwarts, like Prof, who now posts so rarely.
https://twitter.com/bmometalsmining/status/1498469350541565959?s=21
Equities in Europe traded mostly higher in the premarket on Wednesday ahead of the second round of peace negotiations between Russia and Ukraine, scheduled for later in the day. Earlier, the United States and the North Atlantic Treaty Organization (NATO) reaffirmed they will not be joining the clashes in the crisis-hit country.
Traders will also keep an eye on the latest results in Britain's housing prices, Germany's unemployment rate, and the Eurozone's Harmonised Indices of Consumer Prices (HICP).
The DAX rose by 0.06% at 6:59 am CET. At the same time, the FTSE 100 rose by 0.31%. Meanwhile, the CAC 40 stood flat. The euro lost 0.17% to the dollar to sell for $1.11120 at 7:10 am CET. In the same minute, the pound sterling fell by 0.14% against the greenback to go for $1.33050.
Baha Breaking the News (BBN) / JR
Happy hump y’al…
In my experience Geologist have neither the training, depth of experience or financial knowhow to manage feasibility studies or mining development programs, or in fact mines. What qualification did the previous Centamin CEO have? A PhD in geology is defintely not a requirement for doing feasibility studies, in fact it seems to act it he opposite direction.
The litany of mistakes in mining companies is gigantic.
Some of my "quiet" experiences
the CEO who had no idea what the cost of mining was? He had asked sevearl times.
the mine development which followed the wrong quartz vein (it was barren), and then they checked for gold ...geologist got in front of the cart? too smart???
the mine manager who put the tailings dam on the ore extension
the major company which shorted on the metalurgical studies and only sampled the oxide ore, and so designed the processing plant. It was later found that >80% of the ore was refractory.
the major company which made a new discovery, did some preliminary scoping drilling and work, decided it was too small at 150k ounces, and sold it for a song. It was later found to have dearer 5 m ounces of gold, a slight miscalculation?
the major company which discovered a massive porphyry deposit in the philipines, and then found out the levels of corruption, not to mention local terrorism , were outside the boards stringent guidelines (tail wagging the dog???), prohibited the company from doing any development of what they found...
and so on, and so forth
say no more...
the gnome
Goldgnome - thanks for sharing that eye-opening study
As a side note - that Hope Bay mine that Agnico Eagle just shut down - guess who did the original feasibility study and went on to build and commission it as CEO of TMAC Resources in 2013 to 2017?
Dr Catherine Farrow
https://www.linkedin.com/in/catharine-farrow-78535617/details/experience/
Perhaps the TMAC/Hope Bay mine's extensive history of poor performance and failure was a valuable learning experience for this Dr Farrow?
Actually, it must have been a superlative lesson because some genius saw fit to reward Dr Farrow's failures by hiring her as one of Centamin's non-executive directors in late 2019 - where she still sits... (Rebess - your last post was so on the money!)
One can review Dr Farrow's mine building catastrophes as CEO of TMAC/Hope Bay here:
https://www.juniorminingnetwork.com/junior-miner-news/press-releases/1727-tsx/tmr/32370-tmac-resources-reports-operating-and-financial-results-for-q1-2017.html
The mining idustry is not good at talking about its boob-ups, even within a company. Net results are
1. it never learns and
2. shareholders tend to suffer.
An insightful study on the success or more commonly faiings of Feasibility studies can be found at below link. I bet you cant find too many reports/presentations like this?
https://vdocuments.mx/why-feasibility-studies-fail-melbourne201302presentation.html
good luck
the gnome
There are two important and immediate questions to consider:
Will this war extend beyond the Ukrainian-Russian borders to include Russian responses that hurt one or more NATO countries in significant enough ways that could lead to tit-for-tat escalations that could lead the war to become between Russia and NATO countries? Or, will cease-fire talks lead to some sort of cessation of fighting?
How supportive will China be to Russia?
Classically and currently the world’s leading power (which typically has the leading currency) is spending much more money than it is earning, which is leading it to borrow a lot and print a lot of money to buy the debt, which is reducing the value of the debt and money relative to the value of goods, services, and non-debt investment assets. This is producing inflation in goods, services, and investment assets. History has shown that when the coffers are bare and this sort of money printing takes place, financial weakness is near, and financial weakness causes all sorts of problems and precedes declines. When the coffers are bare and there is the need for more spending on both “guns and butter” there is a lot more printing of money, inflation, and political reactions to inflation.
We are havng to suffer an election in Oz, which is depressing. Tweedle Dumb and Tweedle-a-lot-dumber. We all have our corsses to bear.
Good days for gold, Good years ahead for gold
best
the gnome
@ Mon 07:38
Sotolo, I noted your THS entry. Combining it with related post, I had a rethink over the weekend, leading to heavy take-up of PGMs. The bottom line is if Putin fails he is likely to further cripple the Russian economy.
And climbing I guess it’s £1.10 here tomorrow…let’s hope the dividend does not get cancelled/reduced @ current Gold price I doubt it.
It's the old story Cowichan - I think it was a Mark Twain quote. -" A Gold-mine is a hole in the ground with a liar at its entrance" - Mine management is a travelling circus, they seem to flit between mining companies, picking up 'Golden hellos, large salaries and bonuses in between before picking-up a 'Golden goodbye', moving on to the next mine for a rinse-n-repeat. Like bumble bees flying from flower to flower. -
January 2021 - AgnicoEagle pays $286 million for TMAC, which operates a gold mine in Hope Bay (Canada) for a 26 per cent premium to the $1.75 per share that Shandong Gold was to pay
https://financialpost.com/commodities/mining/agnico-eagle-to-buy-tmac-resources-after-canada-rejects-chinese-suitor
- The acquisition price is “reasonable given the stable jurisdiction, and is within typical valuation ranges,” said Fahad Tariq, an analyst with Credit Suisse
Feb 2022 - AgnicoEagle decides to shut it down
"And after all the consideration, we thought that it was making more sense to stop operating and just focusing and putting all our energy into exploration."
- When it was fully operational the Hope Bay mine had 689 employees
https://www-cbc-ca.cdn.ampproject.org/c/s/www.cbc.ca/amp/1.6363802
---------------------->>>
My Thoughts:
Perhaps if boards/management at various mining companies were more forthcoming with the actual state of affairs with shareholders, the market and thus potential suitors - such boob-ups would be less frequent.
Also, it seems to me last week's sudden (forced?) departure of former Kirkland Lake CEO turned AgnicoEagle CEO Tony Makuch may also signal things weren't all they were talked up to be at various Kirkland properties prior to Agnico's $13.5 billion purchase of said company.
In particular the Detour Lake gold mining complex which recently got a stunning 10 million ounce upgrade to its mineral resources from its new-but-very-short-term owner Kirkland Lake
https://www.mining.com/kirkland-lake-gold-adds-10m-oz-gold-to-detour-lake-resources/
Awaiting announcement of a resource 'recount' soon - but will there be repercussions or just a shrug of the shoulders ? It seems to be acceptable to blame the geologists, blame the resource estimate contractors or blame the actual geology but never blame senior management.
https://financialpost.com/commodities/mining/agnico-eagle-announces-surprise-exit-of-ceo-tony-makuch-amid-earnings-miss
Thank you Robbie,
Mining Billionaire Pierre Lassonde discusses the #SilverSqueeze , gold mining business and offers key advice for speculators. Pierre comments on the silver price in historical perspective and where it might be headed.
He shares his number one advice for executives of gold producers as well as what type of mining investment he likes now outside the precious metals. Pierre talks about the current-day gold royalty sector and what is necessary for a start-up royalty company to succeed. He discusses a couple key traits mining speculators must have in order to succeed. Finally, Pierre discloses that he believes “that we are ripe for massive new discoveries…And I think we're due for one. And if and when it happens, it's going to juice up, the energy of people. And I would be looking very much for that kind of event over the next few years. I just know in my bone, it's going to happen.”
https://www.youtube.com/watch?v=XDzpXcdjlwY