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.
Equities in Europe traded higher in the premarket on Wednesday after the European Union and United States President Joe Biden agreed on how to enhance cooperation between Brussels and Washington. Meanwhile, the United Kingdom is about to release its latest reports on consumer and producer prices.
The DAX rose by 0.06% at 8:01 am CET. At the same time, the FTSE 100 advanced by 0.11%, and the CAC 40 went up by 0.16%.
The euro stood flat against the dollar at 8:01 am CET, selling for $1.21276. The pound sterling grew by 0.08% against the greenback at 8:03 am CET, changing hands for $1.40950.
Breaking the News / JR
Happy hump y’al
Thank you for all the comments and likes yesterday.
The tone of commentary by the professional investment community about the Fed Policies is starting to get deafening. No doubt even the Fed will hear and change...not sure when. But the policies are clearly not sustainable, and the ethics of kicking the can (soon to be a barrel!!) down the road is questionable at best.
“You’ve got the “You’ve got the craziest mix of fiscal and monetary policy since the Federal Reserve Board was created,” he said.
If, at its meeting this week, the Federal Reserve says the US economy is on the right path, “then I would go all-in on the inflation trade, buy commodities, crypto and gold,” Mr Tudor Jones said. “If they course-correct, you will get a taper tantrum and a sell-off in fixed income and a correction in stocks.”
“We’re still acting like we’re in a black hole. In fact, the economy has accelerated,” Mr Druckenmiller
https://en.wikipedia.org/wiki/Stanley_Druckenmiller
If the central banks treat these numbers with nonchalance, then I think it’s just a green light to bet heavily on every inflation trade.
— Paul Tudor Jones
The warnings from the hedge fund world are echoed by some prominent economists. Larry Summers, the former US Treasury secretary under president Bill Clinton, last month accused central bankers of “dangerous complacency” in the fight against inflation.
all grist to the mill
best
the gnome
Thanks Cowachin
My personal take is that as an Exploration Manager, or in any position for that matter, 3-5 years is the length of residency. Give it your best in that time, and then hand the baton to the next person. So I see change as being very heathy. Its a pity CEY did not change a few of its Directors more regularly in the past, and of course now.
Lovely to see the Doropo Deposit rated at 5.4 M Ozs. A quick fact check suggests 3.5 M Ozs MandI Jorc, so perhaps Pardey is up to his old tricks. Steven Michael another NED on the company worth a fact check (highly recomend people do this!!) has some interesting history with Arrow Minerals (look via LinkedIN profile and follw the connects). Historically with a reputation more as a life style choice than an aggressive exploration focussed company. Of interest was the eye watering $Salary plus perks he used to pull as the MD of the company = $460kpa, and thats for an accountant running a Junior Exploration company which went nowhere year after year? Page 20 link below ...
https://arrowminerals.com.au/wp-content/uploads/2020/08/AMD-Annual-Report-2018.pdf
It amazing how quickly one can do some background checks these days...and its well worth doing them to have a look at some of the "key players"
No more fact checks for me on this company, I am out of the door...and down the road...good luck to the bled talent!
best
the gnome
Comes to mind
Anyone here thinks that today’s RNS might ring a bell with a buy out...we all seem to concentrate on the SP fall which we know is temporary...
This talented fella now works for Andrew Pardey. Yes, THAT Andrew Pardey...
23 March 2021 ASX Announcement
Tanga’s Chairman, Andrew Pardey, commented:
“We are delighted with the appointment of Pierrick, whom I have personally worked with for many years. Pierrick has been an incredibly successful explorer in Côte d’Ivoire and is highly familiar with the country, its people and most importantly, the geology. I am looking forward to working with Pierrick again and to getting under way in what will be a busy field season in Côte d’Ivoire for Tanga.”
Pierrick Couderc - Exploration Manager
Over 20 years experience in a range of commodities and geological settings.
Most recently, Côte d’Ivoire Exploration Manager for Centamin Plc.,
responsible for leading the team who discovered the 5.4Moz Doropo Project
and the 2.2Moz ABC Project.
https://www.tangaresources.com.au/
Mr Couderc's LinkedIn profile
https://www.linkedin.com/in/pierrickcouderc/
Exploration Manager Cote d'Ivoire
Company Name: Centamin PLC
Dates Employed: Aug 2014 – Jan 2021
Employment Duration: 6 yrs 6 mos
Location: West Africa
----------------------------------------------->>
My Thoughts: Label me the perpetual bearer of bad tidings but isn't it incumbent on Centamin's management to issue market updates when key employees leave ?
Mr tibbles and other readers,
Centamin and gold are doing what they have done quite frequently in the month of June. In fact if we put in a low this month the probability from fundamentals and charts is for a mid-summer rally. So any chart perspective on the down turn is all within 4 weeks or so and makes no difference to LTH plays.
As for the delay on opening up it may deliver the following; a lower sterling rate which helps lift CEY, greater immunity apparently in the population for the winter so a third vaccine jab might not be needed, acceleration of Covid-19 therapies entering the market from October that work against all Covid-19 variants and keep people out of hospital. There is a lot to be hopeful for in the coming months. In the meantime some of us who sold stock at 119-122p will be buying Centamin in the coming weeks and are part of the comeback story when Centamin moves back up again. Finally optimists have a much higher life expectancy than pessimists. So I for one look at the positives and hope for a healthy innings.
Did you get a good price for your dividend reinvestment? The Divi hit my ii account today but I've recently stopped getting their automatic reinvestment as it always seemed the share price was on the high side. The volume was just below average today so I wonder if the price will fall further in the next few days once all the divi's have been reinvested? I will probably buy some more next week if the price weakens a bit more.
A very special message to Boris https://www.youtube.com/watch?v=-Ro4DrewXHE
The French have the right attitude towards politicians, although I wouldn't guillotine them, just pack them up oven ready fashion and export them off to Australia or Norway by the cheapest method, give them the choice though!
Hi RedSparrow,
However long your posts and on whatever subject they are always of interest and long may that continue,
Forget this market madness , what will be will be, enjoy the sunshine and the bird song, at least they are free from lock down, for now!
Nails on the head, Astro, was the tG7 was about more than climate change, Macron wants to give all the gold away to India and other African states, Biden is selling what gold they might have in Fort Knox to buy bonds with lots of lovely newly printed dollars which he is giving away to everyone whether they have a job or not,, Boris doesn't have that much gold (Gordon sold it)so he wants the LBMA to carry on selling the paper stuff whilst he does more trade deals with anyone on anything as long as they aren't from Europe and don't vote for lefties, the Chinese really don't care a jot coz they got 50, 000 tons of gold for all anyone knows and control bitcoin, Putin don's give a monkees cos he's got massive oil and sheds load of precious metal , oh and lots of new tanks and nuclear war heads
We wondered why the Cartel was so laid back about Basel 3, well possibly this is why, another way ways to combat China and Russia influence is to knock the bottom out the precious metals markets and it solves all l those outstanding paper positions!
I take it you're not a fan of charts mrtibbles :)
There is a lot more not looking good for the UK and the world than charts predictions I'm afraid, although agreed they are all part of the package of lies and scare tactics used to cause panic and drive the herd in whichever direction those that control the market want it to go in,
Possibly a better use for the charts would be shove them up the rear hole of Broris with all the other lies that seem to be emitted from there on a regular basis and set light to them in the hope that something sensible, or even truthful might be emitted next time he opens his ugly gob or rear end!
Faint chance though this is the bloke that those that should have had more common sense elected because they believed his lying and completely stupid Brexit rhetoric.
So hear we are condemned to another month of open prison by the bloke who has just wasted many millions of £'s on hosting a G7 jolly in Cornwall (which should have been done by video link) with the aims supposedly to come up with ways to cut harmful emissions and reduce carbon footprint.
So now our idiot Boris PM proudly announces he has secured a deal with a country 10,000 miles away rather than the one we had with countries that were just across the channel 22 miles away, not only that the deal is far worse than the one our farmers already had with Europe and the tariff free meat we can now import if we choose ,is from animals that are subject to lower standard of welfare and usually given large amounts of drugs that are not used or allowed in UK livestock.
So putting things in perspective I really care not a jot whatever charts look like, or whatever the market experts predict, because we really don't matter in the eyes of hose that unfortunately some chose to elect that now control our lives and the markets, so they will always win and carry on doing just what they like !
In fact if I wake up tomorrow and the whole of the precious metals markets has imploded and Sukari disappeared under a pile of camel ****e whilst the West African asset's have been taken over by renegade Ewoks and Boris has announced a tariff free deal with Saturn, I shall just close my laptop lid, then set about mending the puncture in he rear wheel of my push bike and go for a ride.
This is all just a pile of pants, why would anybody in their right mind think that they have any influence or control over what is taking place, we don't, we are either lucky or unlucky in the markets, sometime the market makers shaft us, sometimes it's the company, other times its experts with ulterior motives, but more often or not those that dabble in the markets s get shafted one way or the other ,despite what they claim!
Mr Tibbles you are a mine of unformation. I feel a Sunday off topic in the making.
Goodness, there are so many posts today I can't take them all in.
Macron reminds me of that Monty Python sketch where two people slap each other with salmon. I was so surprized when I worked in France how irreverent the French are towards politicians. No wonder they used to chop their heads off!
I missed all the market action today and will tomorrow. I mentioned copper a week or two ago. The Chinese were trying to control its price. Same for other markets. I wish the US wasn't following in the same vein. It's the future but it will fail. Best to stick to what they're best at. If Macron had said trade freely with Africa instead of selling gold and handing them the money, that is the right way - African farmers would want that.
Mr B and Cowichan = gentlemen. i wish the world had your wisdom.
Sorry for the crappy post but out of time.
You are right, I knew Asians when I was in the UK, they only bought pure AU jewellery.
The Gipsies were the same.
Solid chains of AU.
So Banks were not necessary, nor trusted.
They will no doubt be proved right in the end.
Thanks MrBond.
I found a little nugget of gold interest here:
https://twitter.com/CNBCTV18News/status/1404755930730745858
Apparently India is implementing some new rules as of tomorrow (hallmarking purity certification for jewelry sellers) in which only 14, 18 and 22 carat can be sold. Could crimp sales.
I thought 24 carat was popular in India?
OK Don, we agree on that.
Life's to short.
Really it's not surprising ,a year of frustration for everyone.
Keep well.
As for Gold, most Professional commentators are also mystified.
I feel I must patch things up with MrBond.
I really do agree with the sentiment that all views are welcome - and if MrBond must be the ying to my yang, the black to my white, the pain in the butt to my preperation h then I welcome the challenge and camaraderie ;-)
To Somnamna & Sotolo - thanks for your kind words. Much appreciated.
Also to Tibbs, your peacemaking efforts never go without notice.
Now, what's happened to gold? Somebody please FIX IT a.s.a.p. !
Bullion Vault?
Gold Price 'Already Seen 2021 High and Low' as Stocks, Inflation Forecasts Both Rise Ahead of the Fed
Tuesday, 6/15/2021 14:10
GOLD PRICES held unchanged in Asian and London trade Tuesday, contrasting with fresh all-time highs in global stock markets ahead of this week's monetary policy decision from the US Federal Reserve – now facing the highest forecast for inflation among US consumers since at least 2013.
Moving around $1865 per ounce, the Dollar gold price yesterday sank 1.7% to sudden 1-month lows as bond yields rose, before rallying but failing to regain the weekend's level.
Silver prices were more volatile today, falling back within 10 cents of yesterday's 1-week low at $27.50 per ounce.
Crude oil today rose sharply above $70 per barrel, but base metals slipped further from their recent all-time and multi-year highs, while foodstuffs corn and wheat both lost over 2.0%.
"Inflation is on the way, I'm a big proponent of the [new] supercycle," says Mick Davis, ex-CEO of former mining giant Xstrata and now raising mining finance through $300m special purpose acquisition company ESM (NYSE: ESM), speaking today at a Financial Times' commodities event.
"The mining industry cannot respond to demand from the green-energy revolution any time soon."
Gold mining output is set to rebound by 6% from 2020's Covid slump to reach a new annual record this year said Adam Webb, director of mine supply at Metals Focus separately today, launching the specialist consultancy's new Gold Focus 2021 report.
Scrap recycling will slow while jewelry fabrication will surge by more than one-third after sinking last year on retailers worldwide choosing to de-stock rather than buy new inventory amid the demand collapse, lockdowns and high bullion prices of 2020.
Overall the gold price will rise 3% on its annual average, said Metals Focus' director of gold and silver Neil Meader, taking it up to a new record high of $1820.
$1820 is this a record high all of a sudden?
Commodities: - Softs taking another big hit today as well as base-metals. - If it isn;t deliberate manipulation, it's a helluva coincidence, coinciding with the inflation news as it does.
any gold mining not looking good. everyone in the same boat. fres /poly
Chart is not looking good for Centamin at this time.
Aviation
Trade truce
Transatlantic relations are getting a boost with the U.S. and EU on the cusp of a deal to resolve a 17-year dispute over aircraft subsidies. The breakthrough, set to be finalized today during President Biden's first European meeting in Brussels, would lift the threat of billions of dollars in punitive tariffs via a multiyear accord on subsidy limits. It would also remove a sizable shadow that's been hanging over the planemaking industry, as well as threats that other consumer goods could be targeted with retaliatory levies.
Backdrop: The dispute is one of the longest-running battles at the World Trade Organization. It started in 2004 when the U.S. withdrew from a 1992 aircraft subsidy pact, alleging that Airbus (OTCPK:EADSF) had managed to equal Boeing's (NYSE:BA) share of the jet market due to subsidized government loans, while the EU counter-sued over unfair R&D support and subsidized tax incentives. The case wound through the WTO over the years, but in 2019, it awarded partial victories to both planemakers. While they attempted to work things out over the coming years, billions of dollars in tariffs were progressively imposed by each side, until the two suspended the duties in March 2021, setting a four-month deadline to work out a deal.
The current standstill agreement would likely include a five-year suspension of tariffs and remove claims for compensation. The U.S. would also withdraw a demand that would see it get advanced notice of any future public loans to Airbus. Another critical detail is the benchmark to be used when determining whether the interest on a future loan is market compatible.
Competition is rising: The arrangement would arrive as President Biden pledges to reset relations with European partners, while taking a hard-line stance on China. Beijing has its own ambitions to become a global player in commercial aircraft and even plans on delivering its C919 to its first client at the end of 2021. "There's no question that the rise of China's aircraft industry is... on everybody's proverbial radar," U.S. Chamber of Commerce Senior Vice-President Marjorie Chorlins told reporters on Monday, noting the country's "heavy subsidization" of its industries and threats posed by its state-driven economic model.
Statistic: Job openings soared to a record 9.3M in April as the economy reopened, according to the latest JOLTS report, but 3.5M Americans are still on weekly jobless benefits and more than 9M remain unemployed.
Go figure... While the numbers sound somewhat contradictory due to the ways they are collected and measured, they mean the U.S. is experiencing high unemployment at the same time as a labor shortage. While there are many reasons for the hiring scarcity like shifting employment choices, Republicans have mainly pointed to programs such as enhanced unemployment benefits, while Democrats have flagged items like childcare responsibilities, lingering COVID-19 worries and the need to raise wages.
"Look, this is the biggest economic challenge of our time," U.S. Chamber of Commerce CEO Suzanne Clark declared. "I went to Rehoboth [Delaware] over the weekend, took my teenager to the beach. And the number of restaurants, the number of small businesses that have restricted their hours, that aren't serving lunch, or aren't open at all because of the workforce shortage is tragic."
Making moves: As a result, Clark is launching an initiative to address the worker shortage called "Operation Warp Speed for Jobs." It will advocate for "federal and state policy changes that will help train more Americans for in-demand jobs, remove barriers to work, and double the number of visas available for legal immigrants." The U.S. Chamber Foundation is also expanding its "most impactful employer-led workforce and job training programs and launching new efforts to connect employers to undiscovered talent."