We would love to hear your thoughts about our site and services, please take our survey 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.
Plus about 2.3trillion in crypto which was tiny in 2011…
If that’s the case Sotolo- buy gold and dump cey
Thanks Gnome, I always find Dalio interesting, especially on the history of money and debt, he has been suggesting gold for a while. And thanks ha'penny, what interests me is that a lot of the gold pundits who were calling the gold price to go higher, and were wrong, now see strong similarities between the charts in 2011 as a four year fall began and now, suggesting we are a year in and there will be a similar multi year fall in gold again as quantitive easing is cut back and interest rates rise. However I keep wondering why they don't mention the big difference to last time, do they think it doesn't matter: last time US inflation fell from over 3% to 0% from 2011 to 2015, just as gold fell. This time it seems likely that inflation will rise and faster than interest rates, which should make gold rise, which is why I am holding on to Centamin despite I think the next few figures will be bad?
Indeed...
"the head of the IMF, Kristalina Georgieva, warned last week. “We are unable to walk forward properly – it is like walking with stones in our shoes!”"
I would have thought it was more like trying to walk a tight rope, without any safety ropes (they are all compromised!) and no end in sight. The IMF and others simply latch onto any green shoot, no matter how faint the green, and declare a resounding recovery on its way, significantly greater than modelled...LOL
I think it is time they employed Shane Warne who was far better with the spin.
best
the Gnome.
This article dated Oct 8th may have been posted already, if it was then I missed it and apologise for the repeat weighing its importance to be greater than any nuisance.
…………
“As such the developers with feasibility studies and delineated resources are favoured. We like McEwen Gold or a package of juniors with feasibility studies like Ascot, Bluestone, Orla, or Sabina. Exploration successes, Skeena and K-92 are strong development situations but are in need of feasibility studies. Among the seniors we like Barrick and Agnico on this weakness. We also like B2Gold and believe that Eldorado, Centamin and Lundin Gold will be future participants in the M&A game.”
Centamin plc
Egypt’s largest gold producer Centamin’s main asset is the Sukari Gold Mine. Centamin has $312 million of cash, no debt and 3,100 km2 of exploration ground in Egypt. Barrick recently acquired four exploration licenses for 19 blocks in the Eastern Desert where Centamin’s mine is located Centamin produced 204,000 ounces in the first half and will produce 420,000 ounces or so this year. Centamin recently completed 79,000 m of drilling of which 49,000 m was underground as a prelude to a Phase 2 underground expansion. With reserves of 9.3 million ounces, Centamin has a 12 year mine life before going underground. Centamin has a two-year budget of $10 million and is ahead of Barrick as to knowledge of the area. Centamin earlier rebuffed a takeover proposal because the bid was too low. We believe that Barrick’s entry has vindicated the pioneering ways of Centamin and believe it will likely get another takeover proposal. Buy
https://www.gold-eagle.com/article/gold-america’s-forever-war-not-over
What does it all mean for the gold market? Well, stagflation should be negative for almost all assets. When we have a stagnant economy coupled with high inflation, stocks and bonds are selling off together. In such an environment gold shines, as it is a safe haven uncorrelated with other assets.
Stagflation is so terrifying because the Fed won’t be able to rescue Wall Street simply by cutting interest rates, as it could only add fuel to the inflation fire. The only viable solution would be to engineer another ‘Volcker moment’ and tighten monetary policy decisively to combat inflation. Given that debts are much higher than in the 1970s and some analysts even point to a debt trap, it could put the economy into a severe economic crisis. So far, investors seem not to worry about high inflation, but just as things go well until they don’t, investors are relaxed until they aren’t. For all these reasons, it seems smart to own such portfolio diversifiers as gold.
Concern is mounting over the strength of the global economy, with expectations that rising inflation could force major central banks to reduce their pandemic stimulus measures at a time when the recovery from Covid-19 remains incomplete.
With supply shortages set to persist well into next year as the coronavirus Delta variant prevents a return to relative normality, a period of stagflation – stagnant growth and high inflation, reminiscent of the 1970s – could be on the cards.
It’s all a long way from the IMF’s optimism of the spring. If the outlook were to deteriorate at anything like the pace of the past six months, could a renewed winter of discontent lie ahead?
Steve cheers FOR DATE.
yes hoping for some good news this time as we've had a rough year to date .
I'm very confident in CEY to get things back on track in the next 6 months or so.
Ray Dalio is interesting ... gold is mentioned, "cash is trash"
https://www.bridgewater.com/research-and-insights/ray-dalio-on-how-hes-seeing-the-world-right-now
Hi Mr Gnome,
Same situation in the UK, although listening to Boris and his shower of party faithful at their conference they seem to be living in another world , certainly not the one that most people live in, the UK is really buggered and Boris and the BrexIteers deny it despite everything falling apart!
Thousands of healthy livestock being slaughtered on farms and then sent for rendering because there is no way to get them to abattoirs and even if there was there is'nt enough staff to process them, in the meantime our supermarkets have empty shelves and increased prices on whatever is available
We need a good opposition leader, Kier Starmer seems to be in the wrong party, no fire in his belly, doesn't want proportional representation, despite the Tories changes to the electoral system to make it less democratic and harder to vote them out, Kier is certainly out of touch with the ordinary people, if Kier were a meal i would describe it as bland, very bland indeed !
Having picked up PERIL, by Bob Woodward, I am in a minor state of amaement at how close the US came to an end as we know it, when Trump refused to accept the electoral outcome.
The Prologue starts with the perspective of General Milley, chairman of the Joint Chiefs of Staff, and his conversations with Chinese military personnel during the events of Jan 6th 2021 at the Capitol. Milley reassures China of America's stability, and makes sure the rest of his chain of command is aware of the nuclear weapons protocols, reminding them that he needs to be involved in any proposed military strike.
https://www.amazon.com/Peril-Bob-Woodward/dp/1982182911#customerReviews
The pundits are calling a return of Trump in the 2024 election, as the opposition (Biden) cant even remember the name of the Australian Prime Minister, and a host of other gaffes, too many to list...and he wants a $4 trillion package to pass through congress...LOL
https://www.youtube.com/watch?v=Ve3i7ts-OXM
Good ol US$, stronger for longer, I dont think
best
the gnome
Stupid indeed and expensive, but then Pardey is good at making promises and an expert at kicking the can down the road, not much else, but his sort always go away with a good golden handshake and references to avoid embarrassment for their former employer, so they lways seems to get a place on some board or other!
Drilling company and a corporate Office in Mauritius, not many gold mines there I would have thought, wouldn't be to avoid tax would it?
It's about time countries like Mauritius wised up realised they are being taken for patsies and started charging these companies more tax!
Yes, Pardey in, and I am out of Predictive Discovery. You wonder how companies make such stupid decisions.
I don't follow rent seekers with dubious records.
Made a nice profit of 120% for a few weeks "at the office".
We have piled on so much personal debt in Oz, many households will go to the wall if there is much of an interest rate rise.
But inflation is rising, wages cannot, social discontent rising, hospitals full, borders open..etc
havagoodweekend all
YES.
YES.
March 22, 2021
"Predictive Discovery Ltd (ASX:PDI) has strengthened its board with two major appointments – Francis Harper as non-executive chairman and Andrew Pardey as non-executive director."
Oct 1, 2021
"Capital Drilling last reported holding of Predictive Discovery [shares] was 10.44% "
https://www.capdrill.com/media/investors/Announcements/CAPD-2021-09-Investment-Holdings-Update_Website_20211001_FINAL.pdf
"Here's a stunner: This chart shows cumulative share buybacks by sector. Since 2004, US companies have spent $11 trillion on repurchases, or about a fourth of the market cap of publicly traded US equities. Wow."
chart here:
https://twitter.com/TimmerFidelity/status/1443231592491536393/photo/1
---------------------------------------->>>
What gains would the DJIA , S&P & NASDAQ have without such massive buybacks?
Are buybacks the best use of shareholder capital?
11 trillion is greater than the combined national debt of the UK, France and Italy.
Oct 8, 2021
Our Executive Chairman Jamie Boyton is currently visiting Sukari Gold Mine in Egypt, & is taking the opportunity to see our load and haul operations in action. Sukari is our first major earthmoving contract, which commenced operations in February, & is progressing extremely well.
picture here:
https://twitter.com/_CapitalLimited/status/1446341970394112002
-------------------------------->>>
My Thoughts
It's beyond ridiculous that Capital Drilling's tweet should instantly garner 28 likes and 4 retweets - given it has a market cap a tenth of Centamin's.
Bobby Morse of Buchanan UK is the public relations guy for both companies - why? And how has this affected the decision making of our directors when choosing contractors?
I am glad we have Mr Horgan at the helm now - a new set of eyes so to speak. The forthcoming contract with the firm based out of Ireland is a much needed and healthy step towards diversification IMO
"It's nevertheless good to see some action on Gold today"
And once again, the 'action' disappeared back to a 0.17% rise. WTF is going on with gold! This is becoming a joke and on looking at how much gold miners have fallen from the peak, compaed to gold itself, it's a joke. I don't even want to think what would happen to the gold miner prices if gold actually dropped 5%. At this rate, CEY and the like would drop another 20%. This is more extreme than bitcoin.
Not true, although depends on what you mean by clamping down- since China made its announcement Bitcoin has risen a lot.
Bitcoin has also risen a lot since Powell made his comments-
This is what Powell said:
“ U.S. Federal Reserve Chairman Jerome Powell said he does not intend to ban cryptocurrencies, but said stablecoins need greater regulatory oversight.”
When asked by Budd directly whether or not he intended to “ban or limit the use of cryptocurrencies,” Powell’s response was a resounding “No.”
“[I have] no intention to ban them,” he said.
Powell’s remarks come just two days after he asked Congress for consultation and legislative support to develop the digital dollar. Some in the crypto community have speculated that the establishment of a U.S. CBDC would lead to bans on private crypto, as was recently seen in China, but Powell’s remarks suggest otherwise.
When asked about stablecoins, Powell compared them to money market funds or bank deposits.
“They’re to some extent outside the regulatory perimeter, and it’s appropriate that they be regulated. Same activity, same regulation,” Powell said.
I've been thinking this for some time now. I think it just makes precious metals, (and stocks in general), and bitcoin potentially more volatile as the big boys play between them all to maximise profits
Also they have said recently they would clamp down on bit coin as the Chinese have done. I would prefer to be in a GBP derived Precious metal miner than bit coin to be honest. Future now looks like support for Gold/Silver and less for the USD.
Fed will be very restricted now and they cannot stop the limit growth their is. They need the participation rate to rise first - no sign of full employment where the employment level has in fact reduced by 700k. Gold/silver will be supported form some time yet IMHO. It will be good to see where we are in a months time.
Looks like a classic head and shoulders move on gold and silver forming in the minute charts. I pulled out just in case for the short term play. GLA