Charles Jillings, CEO of Utilico, energized by strong economic momentum across Latin America. Watch the video here.
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"It's buy time!!"
What signs do you see that it's time to buy?
It looks like it's currently down 0.2%, on the way to another attempt to break above $1,830 for the third time since July. I hope it makes it, but I'm holding off until it breaks above that level. I think it needs to break above $1,900 to attract real attention.
@djryan: " china has already banned it"
From what I understand, China is reconsidering its ban on bitcoin mining... they are apparently going to conduct a review with the public to decide. The USA has already announced that they will *not* be banning it.
I also ask myself. Am I smarter than Ray Dalio, George Soros, Paul Tudor-Jones? Am I prepared to hedge my bets by allocating a chunk of my portfolio like them?
Buying big into gold right now is just as much of a gamble, because if it dips even 5%, it will crater CEY and most other gold miners. I don't think that will happen, but it's definitely a risk. I'll look to significantly add to my CEY position once I see confirmation. It's too risky for me otherwise.
I doubt CBDC will have any effect because it's going to be pegged to USD, hence there will be no investment case for anybody to buy it. It could be a useful replacement for 'stable coins' though. I have no interest in any of that other junk.
I'm not looking for any significant outflow from BTC into gold. It's hard to see that happening, because the big investments ($1b on 1-day alone last week) are institutional and have just entered the market. If anything, I expect they'll add significantly if it drops.
It's buy time!!
@djryan777: "The big sell signal is when joe public is buying."
I agree with you 100%. But if you look at the statistics of the bitcoin ETF launches last week, it's *not* the joe public that were buying. The new ETFs were mostly sold to institutional investors. The volume dwarfed that of any gold ETFs. I see gold and bitcoin as two complementary assets as do an increasing number of gold investors.
@djryan: I came across people on this channel last year who had their entire wealth invested in CEY, at a time when the share price was more than double the current level... In contrast to your comments on crypto, I don't think 'they' appreciated the dangers of gold equity investing. Similarly, investors who entered the physical gold market in 2011 had to wait 10 years to even recover to break-even, let-alone the opportunity cost. As you're an RMM investor, you'll know first-hand the dangers of investing in mining companies - as I also do, having also invested in that company...
Ultimately, *all* assets are governed by the laws of supply and demand. Gold, silver, lumber, coffee, copper, etc. The demand for bitcoin is soaring, while the supply is fixed. A lot of highly respected investors already consider it to be digital gold and the effect of that is only just starting to be seen.
I generally allocate 10-15% of my portfolio to crypto. But I'm an investor, rather than a dreamer and would cut my positions within seconds if I saw anything serious developing to threaten the bitcoin market. In the meantime, they continue to rise, literally hundreds of percent each year. With even modest dips in the bitcoin price, there are investors stepping in with billions to bounce the price straight back up, which is simply not happening for CEY or gold.
CaneToad
Still in the midst of a pandemic with world supply chain issues on top of inflationary pressure. All equities at the moment are a gamble. I think given the world economic outlook, physical gold is a good hedge.
Major European stock markets were flat to higher in premarket trade on Tuesday, after closing mixed on warnings of a "downward" economic outlook and ongoing inflation risks from the European Central Bank and Bank of England. Meanwhile, the EU has confirmed upcoming talks with Iran in Brussels and Boris Johnson has urged Vladimir Putin to revise Russia's carbon neutrality goal from 2060 to 2050 ahead of the COP26 conference.
The DAX was up 0.33% while the FTSE 100 increased by 0.14% at 7:29 am CET.
The euro was down 0.05% compared to the dollar at 7:27 am CET, trading for 1.16019. The British pound was 0.04% lower against the greenback, changing hands for 1.37607 at the same time.
Breaking the News / IB
Fair comments CaneToad,
During these uncertain times in world politics and the market's it's become custom and practice for brokers like Liberum to utilise the fear factor amongst the herd to hammer the Centamin share down to suit their own company agenda.
Unfortunately the herd are notoriously lazy or reluctant to do their own research!
Good to hear from you Marmot!
On first impressions B2 seem to have made a very prudent move!
Thank you for the update!
Keep well!
Egypt's President Abdel Fattah al-Sisi (pictured) ended on Monday the state of emergency that has been in effect in the country since April 10, 2017.
The president took to Facebook and Twitter to announce that Cairo is now able to scrap the state of emergency thanks to "the efforts of its great people and loyal citizens." He also described the country's capital as "an oasis of security and stability in the region."
The state of emergency was declared after bombings that took place in two Coptic Christian churches and resulted in 47 fatalities.
Breaking the News / BU
The news from China is very interesting. If it comes about, it has some flow on into the west, not sure what the flow on will be. A new tax on all non-rural property.
It noted that Chinese economist Ren Zeping and his team – Ren was one of China’s highest-paid economists before he left the embattled Chinese property developer Evergrande earlier this year – had calculated that the total market value of China’s housing was around $US62.6 trillion ($83.6 trillion) in 2020, nearly double that of the United States ($US33.6 trillion), and six times that of Japan ($US10.8 trillion).
Now, the prospect of a property tax is bound to excite an extraordinarily high level of interest in China where 90 per cent of urban families own their homes – and roughly 10 per cent of the households own at least three properties – and where an estimated two-thirds of household wealth is tied up in real estate.
Not surprisingly, the proposal for a nationwide property tax, which has been mooted for around two decades, has faced strenuous opposition. Critics argue that the tax – which will take the form of an annual levy on the value of a house, and will be collected by local governments – will trigger a collapse in house prices, and a plunge in consumer spending.
We do live in interesting times, and nice to see gold bouncing upwards. Pity there is not more bounce in CEY shares.
regards
the gnome
Nice find Marmot!
Does this add fuel to the fire of a tie-up/collaboration between B2Gold and Centamin?
One thing I know - I'd rather have Clive Johnson as Centamin's Chairman than Mr Rutherford (no offence Mr Rutherford, sir) should a merger happen.
Also anecdotally, I've got a hell of a lot of interest in my LinkeIn post of last week concerning the combination of B2Gold and Centamin - several hundred views including a bunch of Centamin executives/directors and general Sukari employees (including a few from Barrick and the EMRA too)
Two cashed up and debt free growing companies embarking on an Egyptian /West African adventure - what's not to like?
https://www.linkedin.com/posts/don-lawson-98619370_egypt-burkinafaso-gold-activity-6855191601048772608-eht4
alternatively we'll see how much twitter action this one gets today
https://twitter.com/DonLawson_/status/1452692370118508545
Gold price up as it appears inflation genie out of the bottle
https://www.kitco.com/news/2021-10-25/Gold-price-up-as-it-appears-inflation-genie-out-of-the-bottle.html
Gold Regains $1800 as Powell, Yellen and the World Bank Acknowledge Higher and Persistent Inflation, Oil Hit Multi-Year High
https://www.bullionvault.com/gold-news/gold-prices-102520215
1809.......soon 1850.....then 1900.....
CaneToad,
There a re very few who would have been happy putting a six figure sum of their own money in to BTC ( unless fabulously rich already ) But no doubt many around the world who would be happy with some quite large sums in Gold.
MrTibbles: I agree that all the improvements you've mentioned will help the CEY share price. The problem is that most of the good gold miners are debt-free and highly profitable. They've all suffered in the past 6m.
Auson: In 2015 BTC was trading at $200, while it's now over $60,000. In that same time, gold has moved from $1,200 to $1,800; it's now back to levels seen in 2011. Do you see the problem? I have no plans whatsoever to sell my CEY, but I'd need to see a substantial increase in the gold price + improvements at Sukari before buying any more.
CaneToad,
Where was POG 2, 3,4, and five years ago ?
Hi Canetoad,
I agree regarding the relationship with the POG and I also remain positive on the POG, however even if the POG were to remain at this level once the open pit is restored and the AISC are reduced this will have a very positive effect on the profits and the markets perception of the company.
Also demonstrating and delivering on getting Sukari on the way back to where it was coupled with delivering on the expansion possibilities to push us back over 500k is vital and also attracts greater investors and the obvious big potential takeover companies… we remain projecting performance below Oct2020 - turn this round and the minimum back with the ~25% drop it caused- the rest of damage being broadly in line with most pm’s due to the daily intra-day trading gold movements.
@goldome: "I would brighten up, so much more to life ..."
Stocks are an investment. If they don't (eventually) rise, there is no point in owning them, that's unless you collect them like stamps and love researching them for that reason. I don't. The performance of gold has been poor, at a time when it should be 'shining'. If it doesn't improve, you will see much larger outflows from gold ETFs. Personally, I believe gold will rise from here, but I've been telling myself that for 6m and I'm in the minority...
You can research the CEY fundamentals all you like, but without the gold price rising, CEY will not rise. I don't think many people here get that...
CaneToad,
Well there are a fair few long gold contracts on the CFTC 193.3k up from 185.5k the week before.
So they are most likely betting on prices above $1830
I would brighten up, so much more to life ...
Stop reading the media, the tabloids, any "oids"...just think...Life is good, I am alive,
and if I want to feel happy I can, so f*%^ off
A good friend of mine died today. Didn't give a f%^$ about the stupidity of the markets. Perhaps oddly. But then he was a bit like that.
best
the gnome
I wouldn't worry about fools, surprisingly perhaps they are cheap, and there are many! We are not alone?
The world is facing the big Zero's, and its seriously not for fools ...
Zero Poverty,
Zero Unemployment, and
Zero Net Carbon Emissions
we can add a few more zero's
zero covid infections
zero covid caused deaths
and more
zero injuries from lightning strikes
zero deaths from excess gambling
zero deaths from excess drinking
zero deaths ffrom domestic violence.
zero deaths from Opioids
and more
zero deaths through depression
zero deaths through thinking too much
and on it goes.
when I was young, we had
zero accidents
zero sexual harrassment
zero saftey incidents
and so much more
so much more to life than ZERO
best
the gnome
I'll feel less gloomy about gold if/when it rises back above $1830. Hard to get excited yet.