Ben Richardson, CEO at SulNOx, confident they can cost-effectively decarbonise commercial shipping. Watch the video here.
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https://m.economictimes.com/news/economy/indicators/wedding-rush-sends-indias-gold-imports-surging-to-six-year-high/articleshow/88309301.cms
*personally I’d just give her the house.
Perhaps an executive team that believes in the potential of Egypt?
Also, an update on that LinkedIn post:
28 people from Centamin PLC viewed your post
17 Barrick Gold Corporation
4 Rio Tinto
24 Executive Director
15 people viewed your post from London Area, United Kingdom
in total 852 views and counting...
https://www.linkedin.com/posts/don-lawson-98619370_barrick-gold-mining-activity-6876285221256388608-JxXf
I sense Sprott Money may have got this right. Centamin to go back up to 112p area mid to late first quarter. What was missing from all of the FED talk was climate protection and implementing COP26 measures. The reason being is that they are inflationary. Doing nothing is unproductive GDP and negative growth.
I don't think the market is buying what the fed is selling.
They're saying on the one hand they expect inflation to halve next year and conveniently keep falling neatly into their 2% target, but the dot plot says all members expect to raise rates to between 2 and 3% by 2024. Why exactly would they need such aggressive rate rises year on year for the forseeable future if they're so sure inflation will dissipate on its own long before they even have a chance to start raising rates and seeing an effect. It doesn't add up. The dot plot screams an expectation of high inflation, but their stated inflation expectation tries to pretend that inflation is still "transitory".
Metals are going to do well into the new year, at least until March, now that we more or less have a timescale for the end of taper and initial rate rises. I think the market will adjudge that it's too little and too slow, especially if CPI keeps surprising to the upside.
Finally gold getting a bid as I thought it would.
As long as the $ remains the dominant world currency that's all the Fed care about which gives me some concerns about bitcoin and how will they squash it. Pog took a dive on the immediate release at 7pm but clawed back from its low atm anyway. Same old same old.. and the show goes on..
Fed expects inflation to HALVE next year. The rationale for that? Who knows.
They've been wrong throughout the crisis on inflation. Very wrong. And they don't seem to be getting any better. Everything should be telling them wage inflation is here and is becoming entrenched. They can't pursue a mandate of full employment, against a backdrop of record vacancies, and not expect wage inflation to become the driving and sustained factor in inflation. To assume that supply chain issues will evaporate next year is a big leap, but to further assume companies won't continue to be forced to raise wages to entice or retain workers from a smaller labour pool is fairly myopic or deliberately disingenuous. As long as there are so many more vacancies than qualified people willing to fill them, wage inflation will burn hot.
Hi Wiseys's,
That may be true , although the Sukari mine is a partnership between EMRA and Centamin . it's also worth considering that there are still two outstanding Egyptian legal issues awaiting rulings
1. Centamin has been fighting a court case since October 2012 brought by Hamdy El Fakharany, a lawyer and former member of parliament who has had previous success with similar asset ownership challenges in the property space. He has challenged the Egyptian government over the way in which the original licences were awarded for SukariWesthouse Securities says: 'It is obviously positive news for the company, and reinforces our belief that the company is likely to win its appeal. However, until the challenge is removed we are retaining our 18% discount rate on the stock.'
https://www.sharesmagazine.co.uk/news/shares/centamin-eyes-end-of-legal-pains
2. The unresolved Diesel fuel subsidy case .
Fed tapered as expected, increasing to 30bn. Federal funds rate projections are substantially higher though. 0.9% next year from previous projection of 0.3% and 1.6% in 2023, from 1.0% projected.
Gold and silver seem to be reacting quite well. It seems the market had been pricing in a move that was even more aggressive than this, which would explain all the recent weakness.
Bitcoin went from 47886 to 48983 in 15 mins
Fed will tighten credit faster and sees 3 rate hikes in 2022 just released at 19:00 GMT. Oh dear..
Big trades. Hedge fund or TO.
POLY had a couple too- not as significant as SP far higher as a %- but maybe someone is expecting a gold surge when the FED speak later? Who knows........
I can only assume as buys at the price 81.66.
Two trades of 4746910. Shares.
I would love to know who.
Mixed feeling here, could be first move in something huge.
Gold could well move a lot this evening
fact...the more the share price falls the more attractive it is to an opportunistic buyer....a 130p bid would probably be enough to secure this single asset producer. Operations have been stabilised and the market is giving them zero credit for that achievement
Will a huge drop in bitcoin tonight, as being widely flaunted on social media, be a bonus for gold. Possibly but probably not..
Still a little time left, but it's looking like the predictions of the 'experts', Macleod - Maguire, et al, as to its affects, has fallen well short. - Again. - So much for being forced into adjusting the books/balance sheets in time to accommodate the NSFR requirements for Jan 1st 2022. - Can it still be done?
Autonomy I think more and more gold investors are becoming discouraged, they invest expecting gold to rise but it keeps not doing so, so many having been burnt by so many false rallies are giving up, hence shares lower while gone in sterling, which counts for us, actually higher £1273 to £1336 over the last 6 months. Plus with Centamin many investors seemed surprising unaware of how much profits would fall over these couple of years and 2024 is a long time to wait. However I am...
Mr Tibbles you asked what I thought of the update of 8/12. In a word : underwhelmed. Yes it's good R&R has increased but the algos homed in on the negative development the rise in AISC.
But this is a problem affecting all the PM mines as noted by Agnico Eagle's CEO Sean Boyd last week. He said that gold will have to rise 20% to address this lag caused by the paper gold market selling.
When announcing the rise in forecast AISC Horgan should have underlined the paradox. We are the only industry not allowed to pass on the cost of inflation because another entity controls the price of gold.
2021 has been really tough for all medium and long term gold stock holders precisely because the market manipulations are done in such a way to try to keep investors invested in stocks and bonds and they have shut off the warning signal that a rising gold price gives.
As such it is imperative that new management show leadership and alignment with shareholders by buying a meaningful holding of stock in their own company. It is the fist requirement of Rick Rule's checklist of mining companies to invest in. It is worth noting that Horgan sold Toro for $305 million in 2019 and let's assume he received 10%. How much has he invested in Centamin ? Just 41,405 shares for cost GBP 46,113.
Another shrewd PM investor Bob Moriarity looks at whether the company management are entrepreneurs taking equal risk with investors in the venture or are they entitled Executive employees keen to maximise their security and benefits ?
On that score I did not like the way Horgan received the equivalent of 1% of the company in share option in his first 11 months in office. Nor could I understand how both he and CFO Jerrard received a 59% salary bonus for 2020. Looking at the benchmarks for the bonus you'll note that there is nothing in it that constitutes increased shareholder value like : conclude court case disputes; JV or sell in W.Africa or advance a mine plan.
With real inflation above 5% and the US 10 yr T at 1.5% what has Jerrard done to retain our capital against inflation since 2016 ? What percentage of our cash holdings are held in bullion (price rise +72% since 17/12/15).
Centamin are producing real money at a time of historic fiat devaluation. The company didn't borrow to grow like peers B2Gold or Endeavour 2013-2021 and we have been left behind as a result of organic growth only approach. Now we have rising AISC, huge costs to clear waste and silence on what's holding back the gold price.
It's time that Martin Horgan made a substantial share purchase and starting talking about the gold price problem. This feels like 16/12/15 repeat. Gold price bottomed $1045 that day and FOMC raised the US Int Rate for first time in 7 years. Form then Centamin rose x3 in 6 months. We could repeat that in 2022. Bu weakness and hold on.
Tornadotony fair enough, normal volumes. It's still a significant sell off?
5 hourly RSI now on 12 and the daily on 24. Polymetal 5 hourly is on 21 RSI read out. I will check and see if other indicators are setting bombed out oversold records.
3bear the additional volume over normal activity is well under 2% over the past two weeks or so. Not a huge amount of evidence of institutional selling thus far.
This morning I was in our local bank and hearing that it was the quiet Christmas run up and that activity 10 days before Christmas was nothing like what they have seen before. A number of local businesses that rely on public facing customers are closing for good. Omicron on some cases has taken away last hopes of a recovery. At the same time inflation is just taking off further and with interest rates possibly going up as well, growth is going to plummet. The word on the street is the pound is going to take a big hit. I can see people emptying bank accounts at some point and put their money into bombed out stocks such as Centamin.
I sold out at 86p. Just over 10 pips down on my initial purchase. There is something not quite right about this price action. As you say Bear Insti's are dumping. If CEY didn't have such a decent cash pile I'd be calling placing but unlikely....I think.
This has got 70p written all over it, but even then I'd be weary unless News explains what's been going on here.
GLA. Nerves of steal required.