George Frangeskides, Chairman at ALBA, explains why the Pilbara Lithium option ‘was too good to miss’. Watch the video here.
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Hello JG68 it’s an app on Apple
https://apps.apple.com/gb/app/stockmarkets-by-baha-finance/id430284508
Razorsedge
Where do you get this from each morning, I find it very useful even though it depresses me on mornings like today?
The UK Central Bank in 2017 had a Miss Hogg appointed from Santander on their committee. She was fired after not disclosing her brother's interest in Barclay's Bank that was being subject to BoE supervision matters at that time. The Treasury select committee was unimpressed with her response when she was summoned before them. Since then UK regs on BoE were toughened up. Nolans procedures on how things look to the public are emphasised. It shows how slack things are at the FED.
One day the FUND, the next day the FED
https://www.pimco.com.au/en-au/experts/richard-clarida
remarkable, and predictable, and appalling
there is surely more talent in the US
Senator Warren is right about that lot.
https://www.politico.com/news/2021/10/04/warren-sec-fed-insider-trading-515024
Late divi becoming common with Barclays. It was Melrose last month.
Well we can ... and do, grizzle about the divi, and the share price, but there is a jungle out there, and it is entertaining to say the least. Lady Luck can be seen. Old sayings can guide. One can make a quid as well, or lose a few.
I mentioned Predictive Discovery (PDI:ASX) with their maiden JORC resource of 3.2 million ounces in Guinea, and the share price went up 100+ % overnight, as it should for all of the right Geological reasons. AsBUT...tonishing result! Being in Guinea is a huge investor risk. One needs to know how to manage that risk.
Pardey joined the board, and that was one of my sell points for me, an act of "interest" at a board level. Pardey to assist in managing key project risk? Some other view? Techical oversight? Financing?
A fish rots from the head, as they say...where the saying was first said, I don't know...rumours...China, Russia, Poland, England, Greece. I had done well, and what goes up fast can go down fast. And I sold, and pocketed 100+% in a few weeks at "the office". But what can happen next
But then PDI entered a trading halt. Rumour on rumour, and some in the "official" press (GHUA). Then an announcement about validity of liscense, and related inuendo, all in Guinea, with a Coup De'tat just simmering.
Please read at ...
https://www2.asx.com.au/markets/company/pdi
Read "Bankan Update"
SP tanked 30+% over the days trading. No doubt Pardey will well advise the board. Lady Luck departed stage door right. Me to.
Be sure and discipline of your sell points. Conversely your buy points. One never knows what is around the corner. So risk management is a key consideration. Toro management did well in West Africa, I suspect they will do so again, under the banner CEY.
I wont blame Pardey for this incident, but he was a partial motivation of my exit. So thanks Pardy, in part. My sell and buy points have little wiggle room. Thanks Lady Luck,
CEY seems to me to have a smarter head than what it had before.
good luck all
the Gnome.
Even grumpier with Barclay’s late divi, as said I wanted to put it in under valued Tharisa which is now up nearly 30% since the start of last week, but sadly I hadn’t received the divi at the start of last week, as others had from their brokers. So reinvested in Cey, where fat chance of a week.y 30% rise as not undervalued like Tharisa, in fact still on a forward PE about 10 times higher than likes of Tharisa. What do we think our NPAT&emra share will be, £30m or so for a PE of around 35, or better?
Equities in Europe traded lower in the premarket session on Tuesday, as investors analyzed the latest development on the energy crisis. The European Union is reportedly set to buy emergency gas reserves from Russia, as European Central Bank officials talked about the effects of rising prices on inflation. Meanwhile, Brexit is back in the news, with the EU plans to warn the United Kingdom over fishing rights.
The DAX was 0.74% lower at 7:36 am CET, while the FTSE 100 traded 0.76% in the red at the same time. Meanwhile, the CAC 40 decreased 0.74%.
The euro and the pound gained on the dollar, rising 0.09% and 0.07% to trade for $1.15625 and $1.36051 respectively at 7:37 am CET.
Breaking the News / OL
Happy Tuesday y’al
Gold currently $1761.71 + .42%
Will we meet expectations this day week, or skirt above the estimate?
The problem is that the "world" uses the $ to cost assets and measure loans. The issue being that any crisis pushes the $ higher, US again has to print more to push down the $ in order to export. In the long run you are correct unfortunatly in the short term (1 year) $ has a strong probability of heading higher.
Good to hear from you Mizolgit, thanks for the article!
Fed Vice Chairman Richard Clarida has come under scrutiny for shifting millions worth of mutual funds from bonds to stocks last year just as the Fed was embarking on a massive stimulus to support the stock market.
3 people out of 12 caught in it for their outright personal gain. The USA Federal Reserve is a cabal. Trust has completely evaporated. Its hard won and so easily lost.
Time to buy gold. Lots of it. Tony
https://on.rt.com/bigl
The current state of the US economy.
Americas debt crisis could well shake the World.
Cut of by sanctions and suspicion,Russia could ironically find itself insulated.
If that does not help gold nothing will.
Thank you Candid!
View Of Kees Dekker mining analyst.
Re 2021 BMO Centamin BMO Conference
The tone of the presentation is a lot better than in the past. The next few years will involve much capital expenditure with much a higher waste/ore ratio being mined both in open pit and underground. As long as the precious metal prices hold they will easily cope.
Gosh thanks Candid, v much appreciated. Roughly what do you expect profits to be this year? Do you mean the extra Capex this year and next will add about $115 to aisc, or mean we need a gold price $115 higher, over next decade, for same profit (+ more for mining inflation)? As said thanks a lot.
Also Gnome, yes inflation's likely to be higher but I just read interesting article looking at the correlation on charts between gold and inflation, there isn't really one as it depends how much interest rates are raised to knock inflation, if a lot this trounces inflation and gold falls. This time my guess is inflation with rise faster than rates, so more important, but the market is fixated on the wrong metric, interest rates, so an announcement of higher inflation will increase the worry on rates and could hit gold, although this will be the wrong move that will eventually right itself if I make myself remotely clear. Which is why I hold.
Major European stock indexes started the week marginally higher premarket on Monday with inflation and energy crisis still in focus. British Business Minister Kwasi Kwarteng reported that London will provide support to industries most affected by the rising gas prices.
The FTSE 100 gained 0.16% at 7:52 am CET, while the DAX rose 0.14%. The CAC 40 climbed 0.18%.
The euro was flat against the dollar at 7:53 am CET, going for $1.15740. The pound jumped 0.26% to $1.36500 at the same time.
Breaking the News / MD
Yes I agree Cowichan , that is a large figure. Not as big as it might seem at first glance though in some respects .
The $11 trillion is cumulative since 2004 which is about $650 billion per year
If timed properly , ( when share price is extremely undervalued ) this can be a shrewd thing to do .. it props up the share price by mopping up all sales , it also returns excess cash to shareholders in lieu of dividends because it reduces the share base and this leads to an increase in EPS for the same revenue ..it is also a way of returning excess cash to shareholders as a business contracts ..which many do over time.
Prior to investing in Centamin , I invested in New River retail and I was keen that they should follow that path when the share price fell to 43p.. less than a year later it was up to 106p. then they announced the sale of Hawthorne pub chain and their business size has now halved ..so has the share price and dividends .
I don't approve of share buy backs when there is already a lot of debt on the balance sheet as it puts too much risk on the company
An important factor that you also need to factor in are new fundraisings by companies , new entrants to the market , and companies experiencing exponential growth , Amazon , Microsoft and Tessla spring to mind but there will be others
It will be interesting to see the net growth v share buyback in the market value of the index as a whole .. in a way we have that , with the growth in market value of the US stockmarket in that time , although I would issue a caveat that it is probably overvalued at this time .
Gold stocks, along with gold bullion have underperformed other asset classes so far in 2021, weighed down by elevated US Treasury yields and a stronger US dollar.
The rollout of coronavirus vaccines and optimism of a global economic rebound have also dulled its lustre.
There are a number of catalysts that could propel a recovery in the yellow metal’s price into 2022 and in turn, its miners’ stock prices.
One of these is inflationary pressures.
Wednesday the 13th looms as a big day. It's the release of US CPI and the market is anticipating a result well above the 2% Fed target. At the time of writing the Bloomberg median estimate was 5.3%.
Should the result be so high, or even higher, we do not think the market can continue its ‘inflacency’.
Inflacency is inflation complacency, built on a belief that this year’s surge in global inflation was a short-term phenomenon caused by post-COVID reopening.
Inflacency cannot continue in the long term and the Fed has already started to open the door on tapering, not that you could tell from markets.
Other risks – including radical monetary policies, negative real rates and unsustainable debt levels – remain and are supportive of higher gold prices.
Additionally, gold equities appear cheap compared to the gold price and other equities. They stand to benefit, as their balance sheets remain strong and they typically rise more than the gold price in an upswing.
A spike in interest rates following the September FOMC meeting in which the Fed suggested it could begin tapering its US$120 billion per month purchases of Treasuries and mortgage-backed securities in November was the most recent event weighing on the gold price. The Fed also indicated it might begin raising rates as soon as late 2022. We believe there are a myriad of risks that will come with a Fed tightening cycle, including:
Stimulus-fueled economic growth could grind to a halt;
Debt service costs become a problem with higher rates; and
Bubbles in certain sectors, bonds, crypto assets, and housing could come crashing down.
None of this is slowing the market down. According to the Wall Street Journal, IPO activity has already surpassed that of every full year on record. Sales of junk-rated bonds and loans have also topped previous annual highs. In 2021, the average daily notional value of stock options traded is set to surpass the value of underlying stock trades for the first time. NFT’s (non-fungible tokens) of digital art are selling for millions in a bubble reminiscent of the seventeenth century tulip mania, when a single tulip sold for more than some houses. Frothy markets don’t worry about risks and don’t see a need for safe havens. As a result, so far in 2021, gold has not shone for investors.
However, that could change on Wednesday following the release of the US inflation numbers...
best
the gnome
Don't fear Sotolo... Capex doesn't come out of profit and therefore added to AISC in the year of spend ..
It is deprecated over the perceived life of the asset , which in this case will probably be the disclosed life of the mine which is currently 10 years , so only £23 million or about $57 per ounce will be added to AISC for each year , so not a huge amount ..but of course AISC will already include the annual depreciation for all capital expenditure in previous years , which gives a like for like comparison with previous years
It will however , come out of the $300 million cash reserves ..so that would fall temporarily to $70 million but this is where the cash profits from revenue come in.. the depreciation from cumulative previous capex is now non cash , so this is added to the reported statutory profits. Historically these two combined have generated enough cash in total, to finance capex and dividends in that year
If you recall though , rhe presentation predicted that current cash would reduce by circa $100 mullion because this time the cash earned from operating profits (based on reduced production levels ) won't be able to finance the £230 million capex plus the dividends it pays to us and Egyptian government (to the tune of around $100 million .)
I hope this explains it ...very complicated I know , there are other accounting factors in there to but these are the main items...
A short video explains the process. Current systems can manage 9Mt/year processing possibly expandable. Up to 70% energy savings.
https://youtu.be/WcPKUkjSFvM
https://seprosystems.com/
Summary: Basically blasting the ore with microwaves to microfracture for easier processing and pre select waste from ore bearing material - thus also saving on reagents etc. Good for the environment & profits.
Hi Mr Gnome,
We certainly need some green shoots in the UK but of the environmental kind because our lying government's policies are destroying rather than protecting it including going against the wishes of millions of decent ,caring responsible citizens by building HS2
https://www.independent.co.uk/news/uk/politics/hs2-cost-buy-billion-nhs-education-brexit-a9293021.html
Centuries of farming, building and industry have made the UK one of the most nature-depleted countries in Europe.
Extensive agricultural lands and road networks, in combination with other factors, have reduced the wildlife in the UK to a point hardly seen elsewhere.
While the UK has made some gains, natural landscapes have been so heavily degraded over decades and centuries that we are simply not doing enough to turn back the tide.
https://www.nhm.ac.uk/discover/news/2020/september/uk-has-led-the-world-in-destroying-the-natural-environment.html
The UK is one of the world's most nature-depleted countries - in the bottom 10% globally and last among the G7 group of nations, new data shows.
It has an average of about half its biodiversity left, far below the global average of 75%, a study has found.
A figure of 90% is considered the "safe limit" to prevent the world from tipping into an "ecological meltdown", according to researchers.
The assessment was released ahead of a key UN biodiversity conference.
https://www.bbc.co.uk/news/science-environment-58859105
Brexit has given a way out of complying with EU legislation restricting or banning the use of Bee other insect destroying chemicals
https://www.buglife.org.uk/news/wildflowers-to-be-contaminated-with-banned-insecticide-uk-government-says-herbicide-use-will-stop-flowers-poisoning-bees/
Friends of the Earth and our allies asked to see all the evidence? behind the decision as soon as it was made. But we only received the information in March - and only after submitting an information request under Freedom of Information rules
https://policy.friendsoftheearth.uk/insight/why-government-wrong-ever-allow-banned-neonics-our-fields
I'm' really not that worried about Centamin because I am confident all is going well now, what does concern me more is the state of the UK and our world, no point having loads of money if the environment around you is being destroyed at such an alarming rate!
The answer to your capex question Sotolo lies in how it’s has been accounted for in the past- cheers.
Steve, that depends a lot on what cey profitability will be, so if Capex is included in aisc or as is more usual not or partially. From Centamin outlook for the year this August: · "2021 Gold production and cost guidance maintained: 400,000 to 430,000 oz at AISC of US$1,150- 1,250/oz ...Capex guidance of US$225 million and exploration expenditure of US$17 million". Is this Capex on top of the aisc if so it amounts to $242m spread over 415,000 ounces or near an extra $600 an ounce taking costs to $1750-1850 an ounce at which we have maybe just been breaking and are now about to be or already are loss making. This extra Capex also lasts through next year, with same again. If gold falls just a couple of hundred dollars would we be losing a lot? Now I expect/hope I am wrong and hope Capex or a lot of it is included in aisc, but I would really appreciate some help on whether we are heading for decent profit or losses. Of course if v little profit or losses this year and next, all depends how much Capex shrinks once the wall is sorted in 2023. Remember we also have hefty mine cost inflation though our solar plant will help. Can anyone sort through the figures and tell me expected profit this year and next at current gold price and if gold rises or falls 10%? Also how much this extraordinarily large Capex shrinks in 2023. Thanks so much.
Plus about 2.3trillion in crypto which was tiny in 2011…