Roundtable Discussion; The Future of Mineral Sands. 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.
Ooops meant replace so with sp- doh!
Replace sp with so in last para- when will there be an edit button on this site!
What’s interesting here is that it’s a stock with a primary driver- gold. For example gold just dropped down to ~1770 but markets going up on US open, so although gold dropped , CEY bounced off todays bottom as, after all, it’s a stock.
I work on odds, and of course intra day gold price makes the biggest difference to intra day so in most time- when no more news is around and sentiment hasn’t significantly altered.
It depends what cryptos you pick- I invest in the top ones only as a balance- as you say very high risk which is why lowest % investment of my portfolio. I wish, of course, not taken out profits several times along the way- but still overall pleased. As I’ve said before, I will not be upping my investment as a % of my portfolio as happy with where it is - am closely watching goldies as I trade these with my cash.
Yes, pretty brutal times here at the mo, I trade around data points- hopefully some relief on NFP tomorrow- may trade around then and of course the 8th which will be well worth tuning into and is in my diary :-).
SteveJones999,
Its done really well as I'm sure you have also, I just see it as nothing more than a speculative investment thats all. After all investing in one or more of the coins is not investing in the blockchain technology itself.. is that correct in your view ?
Anyway CEY taking quite a battering today !
If someone had put their £100k in btc 5 years ago it would be worth ~£7m now... what is it worth in gold miners now (incl. divis of course).
Hindsight is, of course, a wonderful thing and risk was very high. But it was the same old tulip, ponzi arguments then also...
Would you put £100k in now? Only you can answer this, dependant on your views...
It's ever evolving- this is my point on crypto.
It's really a simple question, like every other investment- if you believe in it invest, if you don't, don't.
I'm not here to convince you either way, like everyone else, investment decisions are your own affair.
Good luck with whatever you decide.
What Dogecoin Reveals About Future of American Economy — Down the Middle with DiMartino Booth
https://www.youtube.com/watch?v=JaxRe2iuQKc
How Banks Work & Dictate the Economy
Economist Danielle DiMartino Booth sits down with Professor Richard Werner. In this interview they talk about how banking works, the role it plays in society and what quantitative easing really is. Reach out to Werner on twitter @ProfessorWerner
About the guest: Richard Andreas Werner is a German banking and development economist who is a university professor at De Montfort University.
https://www.youtube.com/watch?v=u8j51XZegsk
U.S. Nov Fed Meeting Minutes Signal Concerns of High Inflation
https://www.youtube.com/watch?v=RIO_YP9QGC8
Powell still sees inflation drop — DiMartino Booth gives insight via Bloomberg Markets
https://www.youtube.com/watch?v=E_6FiXCp_Mo
Stevejones999,
I would argue the correct price for gold is an acceptable margin plus ASIC plus exploration, plus refining. Before you even get into demand vs supply. Just out of interest if say you wanted to buy something with Paypal worth £100 how do you use Bitcoin for this transaction ?
Current SP offers good buying opportunity in my view.
CEY without debt, has good cash reserves and price of gold remains on upper end of historical levels. Appears poor sentiment suppressing SP of a high quality business making healthy profit.
When market sells off a profit-making business of good quality, it might have overlooked something. Buy low, sell high.
Hi Kando,
Ten years of austerity under Cameron and Osboune and the behind the scenes privatisation of the NHS had just about made it unfit for purpose or able to deliver the services it should have been able to in a timely manner.
The architect of austerity and the face of Project Fear, the legacy of George Osborne’s six years as Chancellor of the Exchequer is a complex one. His career since leaving No 11 Downing Street has been no less controversial; at one point, while still an MP, he simultaneously held six outside jobs, before stepping down in 2017 for a career in journalism and banking.
George Osborne: More NHS powers should be devolved to English metro mayors
https://www.politicshome.com/thehouse/article/george-osborne-more-nhs-powers-should-be-devolved-to-english-metro-mayors
https://www.digitalhealth.net/2012/12/osborne-protects-nhs-from-austerity/
In particular, the government’s refusal to properly fund the NHS’s sibling service, social care, demonstrates both of the main traits associated with "austerity logic": social negligence and economic illiteracy.
https://www.independent.co.uk/voices/austerity-nhs-theresa-may-billion-pounds-magic-money-tree-conservative-party-a8413151.html
Deaths are what can be counted most easily – bodies can’t be hidden from the statisticians or denied by those responsible for the figures. It was predictable, and predicted, that many more would die when the government of David Cameron, George Osborne and Nick Clegg applied a brutal tourniquet to public spending in 2010. Warnings at the time were shrugged off as shroud-waving and scaremongering.
https://www.theguardian.com/commentisfree/2021/oct/15/tory-austerity-deaths-cut-human-cost-cruel-policy
The pandemic has exposed that it was'nt scare mongering the NHS has been rendered unable to deliver its core services at an acceptable level and the pandemic is being used as a convenient diversion, also Brexit has also resulted in many more unfilled NHS vacancies for support staff making things even worse,
Despite spending billions on Covid boosters there seems to be no end in sight as new variants seem to be mutating in the countries that cant afford vaccines, so why not actuality give them some!
Doesn't mean higher gold prices though- what, after all, is the correct price for gold?
On crypto (I hold majors not just BTC)- the obvious ones are greater regulation = more increase in adoption, increased adoption from payment applications like PayPal will give far more people easy access to cryptocurrency, crypto credit cards starting, crypto new yet already market cap nearly a third of gold, the first Bitcoin ETF debuting on the New York Stock Exchange recently.
As I've consistently said, it's not either/or for gold PMs and crypto, it's both for me.
Crypto is my highest risk asset and lowest % invested, next are PMs- mad how people invest in PMs as they see as low risk when a wall could drop (CEY Oct2020) or politics hit at any time (recent Hochs).
Of course, u can lose the lot on crypto, but I still keep my investment, as it has given me back my original investment over 3 times, and still I have a greater amount in the game that I original invested.
A balanced portfolio is key.
5 years ago, detractors said "tulip all over again"... "the emperor has no clothes"... etc etc etc. It's not the detractors they need convincing like most things... Look at PMs from the highs in Aug2020 to see how high risk they are...
And yet I still here the same old lazy arguments against.
We are still in the early the early stages- major change does sometimes take a while to grip- look at the drop in tech bubble post y2k but now look at the value of several of those companies now- same lazy arguments were used back then.
92.X is a higher low in the daily chart. The monthly slow stochastics is just above zero. This looks like another bombed out gold miner stock.
Spoonington,
Although the location of Sukari resources were known about over twenty years ago and geological studies carried out the events of 2015 & 2018 when at the CEO Andrew Pardey's admission they had hit unexpected low grades must cast doubts as to the accuracy or relatability of those original geological surveys.
As recent events in the open pit have proven guidance was being boosted by high grading in the short term with scant regard for the long term consequences and the failure instigate responsible open pit waste management resulting in the open pit becoming dangerous and unmanageable.
I heard Josef speaking at a Jersey AGM in 2014 where seemed very confident that the court case would be over in 2015, unfortunately the Egyptian Judiciary don't seem to have been of the same opinion.
Josef comes across as a likeable chap, always helpful if your a stockbroker in the business of selling stocks to potential investors and having the advantages of being a member of the right Egyptian family who just so happens to hold a a large stake in a gold mine can't do any harm.
Recent events and narrowly avoided potentially catastrophic disasters must cast doubt's over the reason for appointment and the professional capabilities of the Youssef El Raghy Sukari general manager and also and the integrity of the previous CEO who it seems less than truthful with share holders.
So it seems understandable and very prudent of Martin Horgan to instigate an up-to-date Sukari geological resource study using the latest technology. carried out by a known team to deliver more accurate or dependable results.
It makes sense that Martin Horgan needs all the very best qualified and suitably experienced professionals at executive level level to support him, although I remain confident in him as CEO.
So whom do you suggest ?
SteveJones999,
How about
Inflation increasing mining cost across the board should reduce exploration spend. Central bank bullion buying ?
Just out of interest what is the case for Bitcoin rising from here ?
I took it as good on the moronic (anagram) variant. Mutations are often less impactful.
Israel also saying less problematic.
World panicking, I don't know why they name it Panikos.
I will be getting my booster as am double jabbed.
Markets seen as toppy, hence reaction.
As for gold- hard to fathom in last few months- finding it hard to build a case for a big jump in the short term, based on previous months.
Hopefully the 8th can help us- all PMs remain undervalued in my view.
It's still too early to tell either way, but as far as the current narrative of it probably being much milder than delta, it's probably sensible to take that hopeful thinking with a pinch of salt. The SA doctor who purportedly reported it, who cited treating a 30 something patient with "mild" symptoms as testimony to it being less severe, on the same day her government were - understandably - distraught and frantic about the wave of travel restrictions just placed on them, just seemed a little too contrived, a little too coerced, like she'd been leant on by the powers above to downplay it to limit the damage to the economy in peak tourism season. If it had been a long list of over 60s with mild symptoms and not a solitary 30 something, it might have served as more useful, albeit, still anecdotal evidence.
Ultimately it's going to take another two weeks before we begin to know the impact on how morbidity, as deaths seem to trail case numbers by about 25 days.
https://twitter.com/_capitallimited/status/1466352650257981448?s=21
The first thing coming down the pipe is that it is far more transmissible than the delta variant. Hospitalisations in South Africa are starting to move up. Omicron is more problematic in children compared to previous Covid-19 variants.
Hi Mr Gnome,
Really excellent summing up of government policy in Oz.
Mind you our UK government is the most inept,oppressive and corrupt that I can ever recall.
This stinker " Mogg" is the MP in charge of the Tories who banned the use of the term "Unfit for purpose" in Tory party communications
Jacob Rees-Mogg has become the latest MP to face a standards probe after claims he failed to declare outside earnings.
On Wednesday, the Commons leader and Scottish Conservative leader Douglas Ross were added to the list of MPs that are under investigation by Parliamentary Commissioner for Standards Kathryn Stone.
The decision to investigate Rees-Mogg comes after Labour demanded an investigation into a £6 million loan that the party said he did not declare properly.
https://www.huffingtonpost.co.uk/entry/jacob-rees-mogg-standards-probe_uk_61a7bc83e4b07fe20121c22d
Draconian measure to be inflicted on the UK
UKHome Secretary Priti Patel pushes ahead with controversial new laws that could jail protesters for six months.https://www.mirror.co.uk/news/politics/priti-patel-pushes-ahead-today-25582718
New offences would force prison terms on activists who lock, chain or glue themselves to railings, gates or other objects.
The bill was already a stunningly draconian piece of legislation. One of its chief provisions was to allow police to impose severe restrictions on protests on the basis of noise. If they were loud enough to cause “serious unease, alarm or distress” to a single passer-by – a description which covers any demonstration at all – the police power was triggered.
https://www.independent.co.uk/news/uk/home-news/policing-bill-protest-amendments-stop-search-b1964236.html
https://www.ier.org.uk/news/whats-wrong-with-the-police-crime-sentencing-and-courts-bill/
https://www.libertyhumanrights.org.uk/wp-content/uploads/2020/04/Libertys-briefing-on-the-PCSC-Bill-for-second-reading-in-the-House-of-Lords.pdf
The Brexiteer's claimed we would get back our freedom because our government could make its own laws, well our present government is certainly taking the latter opportunity to suppress any opinion they don't like and now there is no right of appeal to the EU court of human rights for justice!
Interest payments on $1.3 trillion in state and federal government debt will grow to $34 billion a year by 2024-25, as Australia’s strong economic bounce back reduces debt but pushes interest rates higher.
Interest payments will increase to 1.4 per cent of gross domestic product (GDP) over the next three years, according to the latest national fiscal outlook from the independent Parliamentary Budget Office (PBO).
“This is $3.2 billion higher across the period 2020-21 to 2023-24 than forecast at the previous outlook, despite the improvement in the debt position,” the PBO said.
And in the mean time, we will print as much money as you like....
And you can do what you like with your money.
And we will do what we like with yours ...
the gnome
Equities on the major stock markets in Europe traded with losses in the premarket on Thursday as the investors monitored the developments related to the ongoing wave of COVID-19 infections. While Germany's incoming Chancellor Olaf Scholz was in favor of introducing mandatory vaccinations, the incumbent head of the government, Angela Merkel, expressed a different opinion.
On the data front, the traders anticipated reports on the producer prices in the Eurozone, as well as the latest update on the unemployment in the bloc.
The DAX plunged 1.17% at 7:09 am CET, while the CAC 40 tumbled 1.24% at the same time. Meanwhile, in London, the FTSE 100 dropped 1.08%.
The euro and the pound advanced by 0.1% and 0.18% compared to the dollar, selling for 1.13226 and 1.32882 at 7:11 am CET, respectively.
Breaking the News / BU
Questions
1. What is the life of mine at Sukari?
2. What are ALL the assumptions you have made to derive 1?
3. What is the exploration potential, and respective probabilities of success
4. What are ALL the assumptions you have made to derive 3?
5. Outside of Sukari, what are your plans in terms of $spent, ROI and time lines for the other assets? How do you plan to finance these?
6. What are the other opportunties of significance AND HIGH PROBABILITY THAT YOU SEE?
BEST
THE GNOME
its a great bet... I am in on this
...
Hi 600LT
I hope you are right about the December update & I indeed share your optimism that the news will be good.
However I do find it a bit rich giving Horgan & the current management team the credit for the increased resource/reserves which we hope will be disclosed.
I have held an investment in Centamin for over 20 years & was introduced to the company through Josef El-Raghy who in those days worked as a stock-broker here in Perth and had a good friend of mine as a client (I am most pleased to have got that introduction as it has proved to be most profitable).
I can assure you that the resources contained in the Sukari deposit have been known about for a very long time, long before Horgan joined the company so crediting him with their discovery is a bit much. Just because the drilling required to make a JORC compliant resource announcement (we hope) has been completed on his watch does not mean he found them.
I maintain my view that the progress Horgan has made in remedying the operational problems at Sukari so far has been pedestrian and may be due to his background/experience being more focussed on the finance side rather than the operational side of gold mining. I am not saying we need a new CEO but I firmly believe that he needs much stronger support at the executive level in the engineering & geological areas - someone who will pull apart the current mine plan, revise it appropriately and implement the revisions.
It is all well and good to have resources & reserves but if we don't have someone who really knows how to get it out of the ground in the most efficient manner we will found ourselves somewhat hamstrung.
Just my opinion & I am certainly looking forward to 8 December.