Ben Richardson, CEO at SulNOx, confident they can cost-effectively decarbonise commercial shipping. Watch the video here.
London South East prides itself on its community spirit, and in order to keep the chat section problem free, we ask all members to follow these simple rules. In these rules, we refer to ourselves as "we", "us", "our". The user of the website is referred to as "you" and "your".
By posting on our share chat boards you are agreeing to the following:
The IP address of all posts is recorded to aid in enforcing these conditions. As a user you agree to any information you have entered being stored in a database. You agree that we have the right to remove, edit, move or close any topic or board at any time should we see fit. You agree that we have the right to remove any post without notice. You agree that we have the right to suspend your account without notice.
Please note some users may not behave properly and may post content that is misleading, untrue or offensive.
It is not possible for us to fully monitor all content all of the time but where we have actually received notice of any content that is potentially misleading, untrue, offensive, unlawful, infringes third party rights or is potentially in breach of these terms and conditions, then we will review such content, decide whether to remove it from this website and act accordingly.
Premium Members are members that have a premium subscription with London South East. You can subscribe here.
London South East does not endorse such members, and posts should not be construed as advice and represent the opinions of the authors, not those of London South East Ltd, or its affiliates.
Massive yield, but is this a danger sign or has the market got this one wrong
Just for the record for better or for worse finally made an initial buy this avo around the 82.5 level.
I'm sure it could well be for richer or poorer too :o
Every high inflation reading elicits a drop in gold because the blind faith in the Fed is still resolute, but it won't last forever. Ackerman, whatever his motives, is right: they are asleep at the wheel. But it's not out of incompetence or negligence, they've no real choice but to keep dishing out the Nytol. They simply don't have the room to aggressively reign in QE or to raise rates. It'll only be in hindsight that the broader market says, well, our trust in the Fed to control inflation was misplaced, because they never really intended to control it in earnest. They intend to prop up asset prices, support the labour market and to allow inflation to rapidly erode dangerous levels of debt. It's the least worst option for them. They will talk tough on inflation in as much as the hawkish words themselves will have some dampening effect on its growth, but they will not materially act. Inflation readings in the US will hit 10% before the Fed gets round to its first 0.25% hike.
https://www.thetechnicaltraders.com/2022-precious-metals-forecast-video/ Courtesy of Svend on Polymetal board.
I checked what was said about the pennant formation on momthly charts which is also true on weekly charts. This coincides to a major break in gold in Q1 2022. At the very least it gives us hope in the darkest hours.
Omicron is concerning the FED. Likely to stay with the usual taper and see how it goes. Whatever the FED does it won't change the inflation outlook as more companies re-shore to USA production from the far east. Adding to company costs further with interest rate hikes actually makes the inflation worse and goes against COP26 initiatives. USA will also need more people to work in manufacturing and wages in that sector likely to go up and they usually vote democrat.
Games, games , games. The value of FIAT currencies is cratering and they are trying to suppress PMs, the traditional hedge. This cannot go on forever.
Temporary blip.. painful but it'll pass eventually
Ooops meant Gekko …
Af thd moment CEY. Get dragged down when gold drops znd struggles to hold its own when it rises . Not sure what's going on here
Gecko lol
....and Gold tanks...
Inflation genie well and truly out of the bottle and Fed won't be able to reign it in any time soon.
My mind is very active today considering various options designed to create maximum share holder value from here at lowest risk .
Using previous example Centamin could dispose of West Africa assets for the £ 300 million mentioned by Goldgnome
These proceeds combined with current cash would total £500 million , which could be used to buy back shares .
Wind down remaining Sukari asset, no further exploration , sell new exploration rights if possible and buy back more shares .
Manage Sukari for cash and distribute proceeds back to remaining shareholders ..same dividend amounts but fewer shareholders receiving them so DPS will be higher
Once depletion of existing reserves has been reached , sell off the remaining footprint with assets and switch the lights off at Centamin !
I am expecting outrage at that suggestion , but that might generate more wealth for us all than the current management are creating now and possibly will in the future ?
Guess where my bonus is going next week..
This is why I don’t trade on charts, RSI etc… just on data points …
Its so bombed out that I can not recall it being this low.
Yep and gold drops…
FED this week is key… interesting times…
Gold price just puked..
Taken from CNBC breaking news.
Wholesale prices increased at their quickest pace ever in November in the latest sign that the inflation pressures bedeviling the economy are still present, the Labor Department reported Tuesday.
The producer price index for final demand products increased 9.6% over the previous 12 months after rising another 0.8% in November. Economists had been looking for an annual gain of 9.2%, according to FactSet.
Wholesale prices measure rises 9.6% in November from a year ago, the fastest pace on record.
I know that I simplified the equation and that future returns must be discounted for risk , but I think there are more cash generating opportunities that i havent listed here .
What swampmonster is saying is correct , but Sukari has now been well prepared for future production , thanks to the underpinning work , so I can't help thinking that the disposal proceeds from Sukari alone will be significantly higher than the current market value of Centamin as a whole
I agree though , who would take that risk in the current environment , and in the end , the asset is only worth what somebody is prepared to pay for it
What is the lowest offer people on this board would be happy with?
Personally, I would be happy if I got £1.40. I would vote YES.
Not quite gnome .. You can ignore cash so Centamin is currently valued at £800 million
The income streams will come from 2 maybe 3 sources .
1. Cash profits from Sukari for remaining life of mine, no further exploration ..just extract known reserves and then either mothball the mine or which is more likely , sell off the untapped gold resources and remaining assets, once all of the current reserves have been depleted
Treating this as a life of mine cash annuity , the following returns are possible
Operating cash for 2020 was around $450 million and for 2019 a bad year was $ 250 million ..go half way so around $ 350 million ( this amount is after corporate admin costs , which could be chopped )
Assume the Egyptian government take around $150 million ( depreciation and other costs would be deducted before profit share allocation , so it would be lower )
So I calculate that the life of mine cash returns will therefore be around $ 2 billion which equates to £ 1.5 billion ..not a bad return from Sukari alone for an £800m outlay
Then there is the West African assets , to be sold as ring fenced entities..your figures suggest £ 330 million ..maybe a little high ...suggest £ 300 million
Finally there is the new exploration rights ..can they be sold? I don't know but if they can they will generate cash
So the minimum cash return will be £ 1.8 billion , possibly more , once you factor everything in,. and this excludes the proceeds from end of project disposal..
Or put another way , twice our current share price.
I don't think it comes as a suprise that the liquidated value of all of Centamins discreet assets will come to more than the sum of its current market value.
Risk factors will have to be discounted , but equally the returns could be higher.
Depends on FED this week…
That's good MrTibbs.
On the technicals side, it's clearly too early to say with absolute certainty but there's a bit of triple bottom pattern forming at 83p with volumes dropping accordingly. It's usually indicative of any bearishness running out of steam.
We'll see over the next couple of trading sessions - especially and most saliently after tomorrow afternoon, but it could be finding 83p to be the bottom of this slump, which is still in the range of previously strong support.