Roundtable Discussion; The Future of Mineral Sands. Watch the video here.
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More likely to cover short positions!
In February 2020, Naguib Sawiris announced his interest in acquiring 51% of the Shalateen Mineral Resources Company, which is 35% owned by the Egyptian General Mineral Resources Authority; 34% owned by the Ministry of Defense’s National Service Projects Organisation; 24% owned by the National Investment Bank; and 7% owned by the Egyptian Company for Mineral Resources.
Strong odours here ... Hope it is not the odours of "who you know"...
https://www.mining-technology.com/features/stay-gold-egyptian-ambition-and-investment/
best
the gnome
On euroclear was up to 3.93% at end Oct from 3.39% end Sept but still lower than the 4.04% at end Aug 21. So there has been a bit more stock lending this last month, possibly to match a long Gold position I noticed the CFTC still has a lot of long gold posistions.
Hi guys
Something connected to what's happening in the Gold-space. It may have interest for some.
https://www.securities.io/thomas-coughlin-ceo-of-kinesis-interview-series/
Rabbits in the hat occured to me.
We may soon see.
It could benefit Centamin, the plant is in good shape and their is space for extra throughput.
Expect some movement in gold price tomorrow- google tomorrow for exact times.
Let's hope when Jerome speaks- it's positive for gold.
Has been misleading in the past- see when it finishes.
Fair comment'sRebess , Don, Mr Bond!
Possibly one of the rabbit's in the hat to be pulled out at the right time?
Centamin staging a U-turn on our sister index just now isn't that just beautiful.
I wonder how much jail time he got.
I cant remeber now.
He got what he deserved,:-)
Hi Mr Bond? - Who would question EMRA's authority. - Poor old Alf did and look where he ended up. - So did the Arab-spring and look what happened to that. - So, you may have a point. :-)
Edit.
Saves millions in new plant and valuable time.
But of course I could be completly wrong,time will tell.
Don, point 1.
Shalateens interests are in keeping the militaries Pension Fund healthy.
When they tried to sell with an ,shall we say over optimistic 1.8 million ounce supposed new find last year, Sawaris was the only bidder. He quickly lost interest.
Point 2.
Makes sense for EMRA, and Centamin.
Saves million as well as time.
Its possible they both already know of hot spots.
EMRA can do what they choose, and Centamin they know well.
EMRA make the rules in Egypt. Who would dare quetion their authority ?
No one with sense,IMO.
It makes a lot of sense Cowichan and never forget, the plant at Sukari is owned lock, stock and barrel by EMRA, not Centamin.
Intriguing or wha? - Response to your tweet should be interesting.
Have issued their puppet mining company Shalateen some prime gold exploration land directly south and north of Sukari.
Questions:
1) Shalateen has done nothing for decades - what has changed that they should be given concessions without a bidding process?
2) Is this in anticipation of co-working with Centamin due to the fact any gold on Shalateen's land could bypass the new tax & royalty scheme in favor of the old 50/50 profit split as long as the Sukari plant is doing the processing?
I did a quick map here
https://twitter.com/DonLawson_/status/1455566219608657922
Thoughts??
Sub 90p shortly?
"No reason to be as low as 92-93p. Constantly undervalued."
I disagree. There is every reason. All gold miners are suffering. Even the best-of-the-best, multi asset miners are heavily depressed. The only gold miner that I've been really successful with in the past 6m is Fiore Gold and that's only because they're being bought out. The rest are being buffeted by the expectation of the future gold price movements.
"This thing is so predictable lol"
I disagree. It's just bobbing about in a holding pattern like gold. I'm braced for the Fed taper, which could be terrible for gold. I **still** believe that gold should be rallying, but it's not corresponding with the market reality and there might have to be a time when I adsmit I was wrong and sell out here. If this continues for too many more months, it's psosible that the gold rally will not happen for this cycle.
You'd probably have got em cheaper tomorrow afternoon as Fed taper talk on the agenda..
Just bought back in again at 92.5 after selling at 100. This thing is so predictable lol
Exactly 007 now any newbies know this important nugget of information too. To emphasize any discovery now made in the new concessions will be on great terms a maximum of 20% profit share.
Certainly attracting such value before like in October. No reason to be as low as 92-93p. Constantly undervalued.
Stock exchanges in Europe traded mostly lower in the premarket with tensions between the United Kingdom and France about access to fishing waters in the spotlight. Investors will monitor manufacturing data reports for Germany and the Eurozone that are set to be released after the markets open.
The DAX lost 0.11% and London's FTSE 100 decreased by 0.13% at 7:28 am CET. The CAC 40 was flat at 7:07 am CET.
The euro was flat compared to the dollar at 7:29 am CET, trading for 1.16019. The British pound was 0.14% lower against the greenback, changing hands for 1.36450 a minute later.
Breaking the News / MS
I believe the main driver to improve CEY share price will be an increase in the number of ounces produced. This will have the advantage of proportionately reducing costs and increasing overall profitability but until that happens the SP will bob around where it is +/-.
Gold price to stay where it is would be great and to increase would be money for nothing. For it to fall back is a risk and something I very much hope doesn’t happen.
Sadly long awaited news of new licenses and positive news about Doropo were both damp squibs.
Although end of year results should be ok the market will still probably see a reduction in number of ounces produced year on year and less profit than the year before. Even if know it is actually a new dawn.
Like others I am anchored in, but content to give CEY SP time to mature, if nothing happens by end of 2nd quarter next year I will reappraise my position.
CAIRO – 1 November 2021: The House of Representative passed 10 draft laws on Monday regarding gold and mineral exploration and traffic.
Seven draft laws have been passed on licensing the Minister of Petroleum to explore for gold and minerals in the Eastern Desert.
The minimum age for riding a motorbike has decreased from 18 to 16 years old per an amendment approved by the House of Representatives.
Gold mining
The draft laws all allow the minister of petroleum to contract out excavation to the Egyptian Mineral Resources Authority and Shalateen Mineral Resources Company. The laws specify the locations in the Eastern Desert as Alaqy Valley, Om Jrayat, Fatiry, Hamata, Hanjaliya, Om Oud, Otoud, Baramiya, Eiqat Mount, Jarf Mount, Maseeh Mount, Elba Mount, and Aswan area.
Sukari gold mine is the Eastern Desert’s most famous mine, and it is excavated by Australian company Centamin. In 2020, Sukari produced 452,320 ounces of gold. excess of 4Moz of gold, generating $1 billion free cash flow, according to Centamin’s website.
In July 2021, Egypt signed four contracts with Centamin and Canada’s B2Gold to explore for gold in the Eastern Desert. It also signed four other contracts with Canada-based Barrick Gold corporation, the world’s second largest gold excavator. Other companies, including Egyptian companies, also won concession in a 2020 tender.
The Eastern Desert is known to be a vast untapped resource of gold and other minerals such as copper.
https://www.egypttoday.com/Article/1/109458/Egypt-s-House-of-Representatives-passes-10-draft-laws-on
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Only thing that's certain - young Egyptian motorcycle riders will be pleased