Roundtable Discussion; The Future of Mineral Sands. Watch the video here.
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https://twitter.com/Trisseswe/status/1427309244370538500
Why not join the Twitter conversation as well? I know Centamin is monitoring their social media outlets - both Twitter and LinkedIn
Sea container transport costs
The Baltic Dry Index jumped 3% to 3,606 on Monday, its highest level since mid-2010 and extending gains for a fifth straight session, amid improving demand and ongoing concerns about congestion in Chinese ports. The capesize index, which tracks iron ore and coal cargos of 150,000-tonnes advanced 5.3% to 4,852, a peak since May 11th; and the panamax index which tracks cargoes of about 60,000 to 70,000 tonnes of coal and grains, increased 1% to its highest since June 20 at 3,584. Among smaller vessels, the supramax index rose about 40 points to a fresh all-time high of 3,119. source: Baltic Exchange
https://www.marinevesseltraffic.com/1998/01/baltic-dry-index-bdi.html
It's not the price of the materia;s or products that has incresed by so much the associated costs of transporting the products.
So what does the stupid UK government do close the doors, or make it virtually impossible to export and import from 200 miles away (EU) 1 day to UK in favour of trade deals with countries 9000 miles away dependant on airfreight with the increased cost and carbon foortprint, or useing container ships which are in short supply, take many wieks to arrive and are 8-10 x more expensive to hire than they were previously
Talking to a neighbor this morning his builder told him they are unable to continue at pressent because some materials in the UK are in short supply because the government has commandeered huge ammounts of building matarials in advance for HS2.
It's bottles of water thats the Supermarket shelves are empty of.
Seems that turning on the water tap is so strenuous !!
The third biggest Container Port in China was closed over Delta Virus containment earlier today. Also there is a World shortage of Container ships at the moment, so tell the wife to get a good supply of bog paper in that's the first thing to go in the Supermarkets. :-)
hedgehogg,
Thats insane ! Is that to do with port closures or simple demand supply ? Perhaps you should show them the US CPI figures at 5.4%
If this is the bottom, then perhaps be time for me to buy a few more. Problem is, that kitting out new rooms in our house extension is proving a mite more expensive than I had hoped https://www.youtube.com/watch?v=fIlNiUGFOGo
https://www.msn.com/en-us/money/markets/egyptian-billionaire-naguib-sawiris-says-a-quarter-of-a-portfolio-should-be-in-gold/ar-AAN94x4?ocid=uxbndlbing
What he says makes sense
Shipping News! - To ship a 40ft container from Shanghai to Felixstowe now costs $19200. 12 Months ago it was $2500. Price is going up, Christmas is going to be expensive.
Be good to see Word Quant getting their fingers burnt here.
This is going x dividend in 16 days price will only go up…
I think we will see $1800 this afternoon then what for the shareprice ? WorldQuant might be wanting to reduce.
We know now Goldman and UBS are saying get out of Gold this could be a good sign for a strong rally / short squeeze.
I just bought 17,189 after 10:00am that appears as a sale in the trades list - odd!
Large number of patients getting infected in some USA states. Kansas City issued alert can no longer take Covid patients from other hospitals. Numerous hospitals now getting full of patients up 100% in past week. Estimated that other operations to be cancelled if it continues at current rate. I doubt if they can ignore the problem at Jackson Hole meeting.
As we are aware the Robots are already driving the markets direction direction , but they are increasingly deployed on the battle field!
https://www.bbc.co.uk/programmes/w3ct1jg4
Are these the future of modern warfare and how concerned should we be? There are efforts to limit the development of these weapons. More than 50 nations met at the UN in Geneva this month to discuss a possible treaty. But neither Russia nor the United States have expressed any willingness to support the treaty. Ed Butler speaks to Professor Noel Sharkey who's been campaigning against the development of these weapons for 14 years and asked him how close any type of agreement was. Evanna Hu, CEO of AI firm, Omelas, and a senior fellow at the Atlantic Council in Washington, says this technology is now at the forefront of many countries' weapons development. And George Rey is a retired Lieutenant Commander in the US navy. He now works with private sector defence contractors supporting the development of autonomous weapons systems for the department of defence.
I have good fealing today will fly and back above 1pound...
How can this share be 98p when 1800 gold price was giving over 108p a month ago. At 1900 gold it was 121p. Centamin is priced down at 1700 gold.
Major European stock indexes traded in the red on Tuesday premarket with today's batch of economic data and corporate earnings in focus.
In London, the FTSE 100 fell 0.21% at 7:38 am CET. Germany's DAX lost 0.18% at the same time. The CAC 40 in Paris surrendered 0.12%.
The euro was down just 0.05% against the dollar at 7:38 am CET, selling for $1.17726. The pound declined 0.12% to $1.38296.
Breaking the News / MD
Yes interesting incite to Sebastien's mental function.
Perhaps he is losing it, by continued expansion ,with only expansion in mind , rushing in.
Seems unlikely ,but look carefully at their assets, AIM Companies ,and many problems with their current investments.
Seems he likes B/F .
Many have made that mistake that I have observed in my career.
Mining ,no Guaranties.
Ok pay the cash Seb.
For the French manager, who notes that there are no more attractive gold assets [to buy] currently in West Africa, the time has come for optimization and internal growth.
“We must make this whole thing sustainable and push our development projects.
Sébastien de Montessus intends, however, to continue investing in exploration to find the next deposits in the region, near his Burkinabè, Senegalese, Ivorian and Malian sites
To have the means for his West African ambitions, Sébastien de Montessus is now relying on his size, noting that his competitors in West Africa are few, smaller and less geographically concentrated than Endeavor.
“Clive Johnson, the boss of B2Gold (active in Mali and Namibia) has already indicated that he wanted his next major projects to be outside Africa. Nordgold, well established in Burkina Faso and active in Guinea, does little exploration and its production is declining. Iamgold is in the process of selling assets. In South Africa, Gold Fields wants to concentrate its efforts on Ghana, and AngloGold is in restructuring, ?”he says .
https://www.jeuneafrique.com/1165912/economie/or-naguib-sawiris-propulse-endeavour-dans-la-cour-des-grands/
------------------------------>>>
My Thoughts:
Montessus has a superiority complex... I would like to see him challenged by Mr Horgan asap
Egyptian billionaire Naguib Sawiris says a quarter of a portfolio should be in gold
“I say 20% to 30%. I used to be at 50%,” the chairman and CEO of Orascom Investment Holding told CNBC’s “Capital Connection” on Tuesday. “It’s something that’s fundamental. It’s always been there.”
“Let’s say the inflation comes in and there is a crash in the stock market for any reason or the other, you know, then you will be very happy that … you have a position in gold,” he said.
Asked if he expects the stock market to decline, he said prices have been high for a “very long while” and will “inevitably” fall at some point.
https://www.cnbc.com/2021/08/10/egypt-billionaire-naguib-sawiris-says-quarter-of-portfolio-should-be-gold.html
La Mancha launches $1.4 billion gold mining fund
La Mancha Holdings, owned by Egyptian billionaire Naguib Sawiris, unveiled a $1.4 billion fund back in July, to hold the magnate’s gold mining investments as well as battery metals (Lithium, Vanadium..) needed for electric vehicles.
La Mancha’s gold mining assets include stakes in Endeavour Mining, Golden Star and Altus Strategies (AIM: ALS) amongst others. It is looking to invest in junior miners and encourage M&A. Mr Sawiris has said the gold mining sector is "fragmented and needs further consolidation".
During the height of the pandemic Sawiris increased his exposure to gold stating “I believe that when there is crisis, when people are done covering their margin cost, it’s gonna go up,” Sawiris predicted in a Bloomberg TV interview in March last year. “I’m still a buyer and I’m still increasing my position, but I’m only buying mining shares [for now]” he said at the time.
https://www.mining.com/la-mancha-launches-1-4-billion-gold-mining-fund/
Sawiris and Centamin
Two years ago, Centamin rejected the $1.9 billion Sawiris backed takeover bid through Endeavour Mining Corporation citing excessive debts. According to then MD El-Raghy, Sawiris had made similar approaches "over recent years and Centamin's response has always been to refuse his offers".
The approach came after Sawiris announced a change of strategy mid 2019 to invest in gold and copper mining in Egypt following changes to mining laws in the country. Somewhat fortuitously for Endeavour (according to a Tweet by Sawiris) Centamin rejected the bid and then suffered a series of setbacks last year wiping hundreds of millions from it's market value.
https://english.ahram.org.eg/NewsContent/3/12/357139/Business/Economy/Centamin-rejects-Sawiris-backed-takeover-offer,-sa.aspx
The chances of a hostile takeover bid succeeding today are more likely given Endeavour's growth in the past two years however it remains to be seen whether Sawiris will want to face being scorned yet again or whether such a bid will be entertained
Yes Mr T--we have been fed rather a lot of c-ap over the years at Centamin. Hopefully it will come good for us sooner rather than later. Its fingers crossed for that and Martin Horgan knowing his stuff and being straight. He has been left a fair bit to clean up and i dont just mean the pile of dirt. Im hoping he is sorting stuff out a basic level, reguarding getting gold out of the gound and also putting energy saving and cost cutting measures in place. I think he is probably under promising a bit at the moment, partly so he can produce a rabbit out of the hat at a latter stage. I think that maybe that "rabbit" will be in the form of a small special dividend next year.
If Batie West is sold off and the money goes into the bank and things open up with clearing away the pile of dirt, things could start to look up with the new areas and those 44 new trucks coming into play.
Anyhow, fingers crossed ---------another 6 month wait for anything really good I reckon.
Its a great game and interesting "investainment" ....
https://www.youtube.com/watch?v=PyLibYAMDcM
a little before my time, but the intro says a lot,
https://www.youtube.com/watch?v=ptxxq5PUHEk
wheres the next hit brudda? LOL
best
the gnome
Indeed Jep
Many of the "new breed investors" were not long out of nappies when that happened! which is an important dimension of what is happening in the markets,
the other being they have only ever watched the get rich super quick on twatter or twitter, which is generally very short in keeping with their attention spans. ... LOL
Funny old world eh?
best
the gnome
Hi Mr Gnome,
I agree it seems as though they prefer to invest in the "Hype" of something that does'nt actually exist possibly never will, although those that run the markets don't care as long as it keeps the markets fluid, they will pump anything or ideed "a might be" up as long as long the punters keep buying into the dream (many on leverage (CFD's) until it starts to become apparent the dream has no substance, but by then the shorters will have taken their positions and the brokers advised their clients to sell and the market will make make lot's of dosh as the dream fades away at an amazing pace taking those that did'nt get out and their money with it!
But never mind by then there will be some rumours of more "Pie in the sky" or "Pink elephants" starting to emerge in the mainstream and on social media with a chance to get in before the price really takes off !
Possibly then if the manipultaion of the P.M using paper is going to be more diffcult after Basel 3 and considering that P.M. dont seem to have the same attraction to a newer genration of "Cloud" investors / traders then this buying into the "Dream" will be where the market manipultators can make their money?
In some way's we Centamin investors have been sold the dream of "record guidance" next quarter, "Good times coming" (Oops sorry, next time,"Oh bugger unexpexted low grades,"Oh dear forgot to sweep up the open pit crap" ) by the prevous management.
But that said our dream can becaome a reality now we have a manegement who are capable and intent on delivering on what has always been promised, just unfortunate it's a decade late!
But there you go, at least there is some reality , or substance to our dream!