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Mhenderson
I hope it was not a big lie.
Tony
I am not sure guessing tomorrow's numbers does us any good. As Steve says results are all that counts and tomorrow we will find out whether Centamin can meet the low end targets which I feel will be a disappointing year. To achieve the low end numbers they will need a close to record performance. Is this achievable yes it is as they have the equipment to move the tonnage, a number of benches to work from and they had some ounces sitting on the ROM after shortfall 3rd Qtr but it will depend on ore grades.
Gomez9
No one can disclose his sources .
For the lie I will keep it for awhile now, will be posted soon.
again don't worry they got 450k this is the truth now.
Hi Tony,
Being an election year its all about political rhetoric to justify a system that is broken, the FED is short on truth and the market doesn't care about truth as long as theirs an excuse to churn the shares!
M Henderson
This is not a dig, as you were correct last time- would be good if you clarify what you said before please:
You also said “ and for the answer for your question ..there is another Lie by the end of year to trying to achieve the year target numbers.”
Was it from your same source that now invalidates this by making 450k?
Thank you 3bear , mrtibbles for your words.
I am a very reserved person , I only speak when I am 100% confident in what I say.
Stocks came in wobbly this morning, as the bipolar market stance towards Fed rate cuts went bearish again.
This despite the shockingly bad Empire State Manufacturing Index.
And so the Dollar rallied quite handily.
Gold and silver fell.
VIX rose, but fell back in the afternoon as stocks managed to pare most of their losses.
The geopolitical situation is getting increasingly ugly.
Mispriced risks abounding.
It is difficult to take most of the short term moves in the markets too seriously.
Kind of like the results of the lightly participated Iowa caucus which garners attention only because of its early scheduling.
New Hampshire will be significantly more interesting as always.
There will be the monthly stock option expiration on Friday.
----------------------------------------------------------------------------------------
Empire State manufacturing Index was -48%. In the background jobs data was pointing out a loss of 100,000 jobs in warehousing. Short term moves just following FED utterances until more bad data arrives. Sanders claiming Biden making USA look like Germany post world war 1 is also quite something. Yet USD goes higher.
The number two gold miner announced its preliminary full year and fourth quarter 2023 production results yesterday.
Copper dipped, too, 420 million pounds in 2023 compared to 440 million pounds in 2022. Barrick noted that both copper and gold production was within its guidance. Gold production was also up for Q4 compared to Q3.
In Q4 the average market price for gold was up, $1,971 per ounce compared to $1,726 per ounce a year ago.
Barrick Gold dropped 5% to $22.44 a share. It was a down day for the gold miners with the GDX off 3.94%.
http://tinyurl.com/2p9rp74x
In the title
https://www.bbc.co.uk/news/live/business-67998084
You have more sources than Heinz Mr T. By the law of averages they will always be right at some point as well as being wrong- reminds me of that old Johnny Ball show “think of a number”- and if your latest number is indeed correct, it will still be pure luck. At some point you have to right.
Major European stock equities traded lower during the premarket hours on Wednesday as market participants anticipated fresh readings on consumer and inflation prices in the United Kingdom.
In the coming hours, Eurostat will publish an inflation report for the euro area, which could shape the European Central Bank's monetary policy this year. Meanwhile, French President Emmanuel Macron and Spanish Prime Minister Pedro Sanchez will take the stage at the World Economic Forum in Davos later today.
London's FTSE 100 slumped 1.05%.
The Euro Stoxx 50 fell 1.06%.
Frankfurt's DAX fell 0.42%.
The CAC 40 dropped 0.54%.
The euro was down 0.09% against the dollar, to sell at 1.08630, trading at its lowest level since mid-December minutes before. The pound sterling dipped 0.16% versus the greenback, going for 1.26101.
Baha Breaking News (BBN) / AB
Happy hump y’al
Gold currently $2018.50
Down 8% today on Q3 production number, this even if are better than previous quarters.
Hmmmm I am a bit concerned on the whole sector in view of this market reaction, I mean Barrick is trading at some PE of 37, a bit steep imo, and I wonder if a correction of the gold major, will affect also the smaller miners in the sector.
Thank you M Henderson for having the courage to speak out prior to the event, that demonstrates great confidence in your statement.
Canada's B2Gold is negotiating to cede six licenses it owns to search and explore for gold in Egypt in the Eastern Desert to Canada's Lotus Gold, according to government officials who spoke with Al Sharq on condition of anonymity.
In July 2021, Bto Gold of Canada signed a contract with the Mineral Resources Authority in Egypt to inject investments estimated at $ 8 million to research and explore for الذهب gold in 6 sectors in the Eastern Desert, which it obtained in the first gold auction that took place in 2020.
One Egyptian official attributed the reason for B2 Gold waiving the licenses to its desire to focus its activity on one of the mines it recently acquired in South Africa, as well as the slow procedures for obtaining approvals for gold exploration operations in Egypt.
Egypt to launch global gold exploration bidding in the first quarter of 2024
Conditions for transfer of ownership
In March 2021, the Egyptian General Authority for Mineral Resources signed 25 contracts for gold research and exploration for 7 international companies and 4 Egyptian companies, in 75 sectors in the Eastern Desert, with investments estimated at $ 57 million.
Bidding winners include Australia's Centamin, Canadian companies Barrick Gold, Be to Gold, Lotus Gold, Red Sea Resources, Egypt's MEDAF, Al Abadi Mining, North Africa Mining, Nuba Mines, and Ibdaa for Gold.
English, Canadian and Egyptian companies won an international tender to explore for gold and minerals in Egypt's eastern desert last June in 8 regions to 4 foreign and local companies.
A government official told Al-Sharq that the two sides informed Egypt's Mineral Resources Authority of the negotiations and asked the authority to specify the legal conditions and mechanisms related to approving property transfers.
In 2019, Egypt passed a new mining law to encourage gold mining, with royalties and taxes instead of sharing production.
Canada's Aton Resources to start gold production in Egypt by 2025
Egyptians bring about 3.3 tons of gold from abroad in 6 months
Egypt withdraws a concession area to search for gold from Cyprus' SMW Gold
Egypt extends closing date for gold exploration until November
"Shalateen" aims to raise gold deliveries to the "Central Bank of Egypt" by a third
Egypt signs contracts for the commercial exploitation of gold discoveries within days
http://tinyurl.com/5n78amxh
Hi Tony,
Yes correct 438,000oz in total, although that was from a new source so I an unable to vouch for the accuracy of the figures at this stage, but happy to be wrong and hopefully it may be more if M Henderson is correct!
These two links mention James Rutherford being from County Down, being Chairman of Centamin and graduating from Queens university Belfast.
Interesting from my perspective as I live in County Down also.
https://www.qub.ac.uk/schools/queens-business-school/people/school-advisory-board/#d.en.996127
https://m.belfasttelegraph.co.uk/business/belfast-man-appointed-to-gold-mining-firms-board/31328054.html
M Henderson- you also said “ and for the answer for your question ..there is another Lie by the end of year to trying to achieve the year target numbers.”
Was it from your same source that now invalidates this by making 450k?
121.000 t ozs . :-)
Ah mhenderson you have form on here after correctly saying there was a production shortfall in Q3 well ahead of time, and I was one of those to pooh-pooh what you said - apologies - I hope you're right this time as well.
If it's below low end and minimum as forecast isn't met, there's every chance the SP will take a hit. - The last report indicated on track to meet forecast parameters. - Any subsequent impediment/set-back against achieving this would have had to be reported I think. - It hasn't been, so there is every reason to be optimistic.
450,000 total ,no more no less.
Tibbs you mean 438,000 total . (321k + 116K) Around 1200 ounces more was sold over mined so we could be 10-11k below minimal target. Average sale price however was $30 per ounce higher in Q4 compared to rest of year at $1933 per ounce. Also AISC may have dropped a $5 an ounce in Q4.
The demand for rhino horn is exceedingly high on the black market and is even valued more than gold.
Illegal ivory can fetch a high price on the black market and can make a quick profit if the products can be traded in high volumes. The vast majority of poaching is caused by organised crime syndicates that use high-powered technology and weaponry to track and kill many animals at once without being detected.
https://rb.gy/si58fq
I actually got as far as 42.40 and then he said:
"At the margin the drain of physical gold is structurally impacting the imbalanced, ring-fenced asymmetric-long over-the-counter short-futures envelope."
Lets hope so 3bear!