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It’s a long time to Monday but gold is currently banging on the day’s high around $1843.... and change
Chri55 times have certainly changed.
We will soon see whether for the better, or not.
I did live in an area of high un-employment. With 100 applicants for every decent paid job though.
50% of US investment now goes into ETF's. Last Friday the GDX, the largest PM miner ETF (which CEY is a constituent of) closed the week at 37.40 the highest weekly close year to date.
Currently GDX is at 37.63 setting up a new higher weekly close for the year. GDX is building up for an assault on the 5/1/21 YTD high of 39.00. It could be tested next week.
Yes Rebess and Hedgehog.
Before I retired and having sold my distribution business, for a little extra money until my pension I did some driving for an agency.
The work was long hours , sleeping out and poorly paid for all the problems.
Although regulations have improved driving time ,it is a case of 9 or maximum 10 hours per working week. Then an 8 hour break , with no excuses for going over.
So imagine being stuck at ferry terminals now Brexit is final.
Result higher costs ,less drivers.
Inflation is inevitable, maybe we in Centamin will benefit more in time.
Thats not even touching on QE and FX fluctuations.
And of course the dollar dropping.
In terms of countries where we operate, Senegal -- I would say Senegal and Côte d’Ivoire are obviously very stable, politically. You probably saw that there was some time in Q1, I think was around March, there was two days of riots in the capital city. But that was mainly a political... it happens that sometimes, you have these type of events, but I would say that Senegal and Côte d’Ivoire are extremely stable. In the case of Côte d’Ivoire in particular since the re-election of President Ouattara, which is always good when you have a strong, I would say liberal President, which has been successful so far.
Côte d’Ivoire had between 7% to 9% GDP growth over the last five to six years. It's one of the fastest growing country in Africa and having the same president running the country for another five years, I think is going to be very good in terms of stability.
Burkina, obviously, we are the largest gold producer also Burkina. It's a key country for us. A bit more tricky on a security standpoint with regular attacks in one particular area of the country, which is the north part of the country and the three-border region... But, as you know, we've been operating in this countries for years. We believe that we have the right relationship with the government and the right protocols with our security team to ensure we are able to protect the assets and the people. Hence the fact that we were comfortable at the time to acquire SEMAFO assets...
So, I would say that from a security standpoint, in Burkina things are not improving, neither worsening. There is a big push right now with the Burkina army being extremely active in the north with the French. And hopefully in the next few weeks, we should see some improvements on that front.
In terms of M&A, as you said, I think we've done our share of the job in acquiring the right assets for our portfolio... We're now really focusing on organic growth. We've got amazing projects coming up with Phase 1 and 2 of Sabodala Massawa and then with Fetekro and Kalana.
It's funny to see, I would say, a Latin-American silver company [Fortuna buying Roxgold*] going right into Burkina but let's see. It's going to be interesting to watch. And for other assets unless Clive Johnson wants to sell Fekola, which I don't think he intends to, we don't have any particular interest for external growth.
-------------------------------->>
And a closing note from former Centamin COO Mark Morcombe
"Thank you, Joanna, and hello to everyone on the call. I've just returned from visiting a number of our mines and we will happily trade the 40 degree heat at Sabodala for the current English weather any day..."
My Thoughts: Endeavour is sure getting some performance out of Mark - not like his time at Centamin under Pardey!
Hedgehog thanks, as Rebess also says we are really feeling inflation now, I bought a fire bowl in December that was £187, £487 now. The seller imports it from Holland. Amazingly I asked for a third more on my daily rate that has been the same for almost 20 years and got it. MacDonalds USA has just put up wages 10%. So we definitely have inflation, the question is will interest rates keep pace with it (bad for gold) or will inflation outpace interest rates (good for gold). Assuming we continue with rising inflation and negative real rates you would have thought gold must rise in nominal terms and do its historic usual staying long term flat in real terms, with a big spike first as people pile in worried about losing out with money
Hi Hedgogg
Amazing stuff - Thanks for sharing. - It's very worrying really. - My family owns a logistics company and one problem right now is getting drivers. It's very difficult. It's bound to feed through into inflation you would have thought.
our load and haul operations at Sukari in Egypt continue to ramp up with night shift operations commencing
https://twitter.com/_CapitalLimited/status/1393103320764403714
I import and Export, sell to UK Supermarkets n the like. Ive just been quoted $13,500 (plus £1000 UK Port Fees) to ship a 40ft container from China next month. That, for those who don't know is as opposed to $2500 all in a year or two ago. So Cost of Goods is rising hugely, my freight company say many suppliers can just not afford to ship and its affecting everyone.
In addition, in contrast, in the UK, its almost impossible to get a courier like DHL, DPD or TNT to collect from our warehouse, as their systems are overloaded, and I cant even get timed deliveries into Supermarkets because Hauliers are refusing to do times deliveries because they are short staffed and over worked. Never in 15 years have I had any of these issues. Add in the Brexit disaster, and its a right old mess. Just telling you lot as you're a sensible informed bunch and I thought Id' share as my Friday insight.
Breaking- US Retails Flat
Well someone likes us today for £691,000 There was also a 990,000 share trade after hours yesterday
14-May-2110:28:47 116.95 591,051 Buy*116.75116.85 £691.23k
Miners have not joined in on the whole. Downtrend for the remainder of May with lower highs occasionally thrown in is a possible trend. The next challenge a retest at 1800. So I would only buy dip if its a proper 9-10% correction from the 122 peak as a higher low area.
A good week of consolidation for hard asset alternatives to overpriced US stocks, property and bombed out bonds. It will take a while for general investors to rotate into the gold space but inflation always works as a catalyst. Eventually.
Lots of damning revelations about the behaviour of the gold and silver paper markets just underlines how desperate they and the bullion banks are. Comex gold and silver have had waterfall selling every day this week but the bid soon comes back. They must be having nightmares about how do they close out their enormous gold paper shorts especially if the wafer thin silver physical balance breaks. Silver investors are calling the Comex and LBMA bluff.
Gold, GDX and gold miner 8 month downtrend is now over and a few new investors are now coming in. If the trends for inflation and the USDI also continue then gold and silver will likely be set up for some upside surprises. After an 8 month sector downtrend there is considerable latent energy to explode first with a relief rally and secondly due to sector rotation.
I think silver could fire up this neglected hard asset haven from rising inflation as the everything else bubble starts to deflate.
Hold and buy on pullbacks.
Gavin Andresen
Satoshi handed the Bitcoin project over to Gavin when he left in 2011. This makes Gavin a potential Satoshi in some people’s eyes.
Gavin’s writing has been deemed a very close match to Satoshi’s too. A process called Stylometry caught Harry Potter author J. K. Rowling trying to write under a pen name. The same process analyzed Gavin’s work and found that he could be Satoshi. I’m not convinced.
The Bit Gold founder
The closest thing to Bitcoin ever created is Bit Gold. The creation came from a man named Nick Szabo.
Nick said in 2008 that he was planning on releasing a live version of Bit Gold. On the 31st of October 2008 the Bitcoin White Paper was released to the world and laid out how it would work. On the 3rd of January 2009 the Bitcoin network began. The timing seems way too coincidental.
If you read all of Nick’s early blog posts you can see a lot of similarity with the way Satoshi writes. “Unforgeable costliness” is one phrase Nick said that shows a remarkable resemblance to Satoshi.
In the Bitcoin White Paper written by Satoshi, there is one piece of the puzzle left out: references to Bit Gold. Some say this is deliberate to hide Nick’s identity as the real Satoshi. After all my research I believe Nick Szabo is most likely to be Satoshi Nakamoto.
Satoshi’s final message tells us a lot
I wish you wouldn’t keep talking about me as a mysterious shadowy figure, the press just turns that into a pirate currency angle.
Maybe instead make it about the open source project and give more credit to your dev contributors; it helps motivate them.
The 5-Word return of Satoshi
Satoshi disappeared in 2011. It’s not widely known, but I found through my research that he reappeared in 2014 for a few seconds.
I am not Dorian Nakamoto.
Dorian’s life was being torn apart after being revealed as Satoshi. The real Satoshi clearly has a heart that transcends the idea of money and economics.
The clue to Satoshi’s identity
The first block (list) of transactions ever to be mined (verified) is known as the Genesis Block. Within a block of Bitcoin transactions a message can be left. Satoshi famously left this message on the first-ever block.
The Bitcoin community widely believes this to be Satoshi’s unofficial mission statement. He clearly was unhappy with the collapse of the financial system in the global financial crisis. Bitcoin was Satoshi’s answer to governments creating money out of thin air as a form of tax. Bitcoin removes the middle man, and enables the transfer of value to occur through a decentralized network protected by code.
The theory that keeps people guessing
There is one final theory: Satoshi Nakamoto is a group of people.
Michael Chon in 2017, backed up with analysis that “Nick Szabo is linguistically similar to Satoshi who had written the Bitcoin paper and Ian Grigg is linguistically similar to Satoshi who had exchanged the emails.” Maybe Satoshi is ...
Great that golds off for a spurt again. Bitcoin spurted the wrong way . Some light reading for some
I solemnly swear I will not marry Satoshi Nakamoto if he’s found.
Although I’ve been curious about him for years. Satoshi is credited for writing the Bitcoin White Paper that forever changed the way we think about money. The idea has even led China to create its own digital currency. Bitcoin has already succeeded. Don’t believe me? Look at this graph below. It shows companies and assets ranked by their total market cap. Bitcoin is bigger than Facebook or Tesla. Let that sink in. The trouble with Bitcoin is we don’t know who created it. It’s an unsolved mystery that millions of people would love to have answered. People love Satoshi, not because of the new form of asset class he created, but for his philosophical views about economics. Satoshi changed the narrative from centralization back to decentralization (the origins of the internet). It’s important to know that those who worked on Bitcoin in the early days would prefer that the creator remained anonymous, so often they alter stories of who Satoshi is when they feel the world is getting too close to knowing.
So, I’m going to tell you who could be Satoshi. Then I’m going to tell you who I think Satoshi is based on my own research.
The cryogenically frozen man
The most interesting person who could have been Satoshi is Hal Finney. He died in 2014 and decided to become the 128th person to be cryogenically frozen by the Alcor Organization.
Cryogenics is completely unproven. One article I read about it, suggested cryogenics is nothing more than having hope for the future. The idea we may be able to help frozen bodies come alive again is an interesting idea.
In a way, I secretly hope Hal was Satoshi. Having a frozen man come alive again in a hundred years to claim he is the Bitcoin founder, and to unlock Satoshi’s not-so-secret stash of coins would be cool. A frozen Satoshi is the stuff of science fiction and, who doesn’t love a good Star Wars film?
Hal is often thought of to be Satoshi because he received the first-ever Bitcoin transaction in history of ten coins. The idea Satoshi could have sent the coins to himself is an interesting idea. It seems dumb to me that Satoshi would do that as he knew concealing his identity was key to his project’s success.
Satoshi wrote about 80,000 words before he disappeared off the face of the earth in 2011. Many of his articles have been analyzed. One firm, Juola & Associates, claims Hal’s writing style is the closest to Satoshi’s.
Dorian Nakamoto
A man who lives two blocks away from where Hal Finney once lived has the name Dorian Satoshi Nakamoto. In 2014, he was exposed as being the real Satoshi. It nearly ruined his life.
He claimed he wasn’t. Bitcoin romantics were in love with the idea he was.
stray tuned
Steve... As I type gold rising fast currently on its high of the session at $1835,57
In minutes this info will be out of date... high now $1836.10
…or could start a new board on Centamin, many companies like Tharisa have brilliant boards on the company and what affects it just full of information and ideas about the company, take a look, but what would you call it?
CSDI1962 and others who have posted similar could call your suggested chat room the village pub, I agree a broad set of worldwide political and economic issues can affect the price of gold and so Centamin, as Gnome’s posts on central banks can be useful, but I agree with other posters here over the last few months as UK political rants have grown that posts on local politics, Brexit, press, woke etc that don’t affect Centamin’s future remain in the pub, as there is enough of that everywhere from papers to pubs, and it can be a pain for those who want Centamin thoughts to have to wade through miles of stuff which has nothing to do with future price of Centamin. Of course pointing out the effects on gold of political and economic events is useful as effects the Centamin prices. It is just we have enough entrenched intolerant views and rancour around on every side imho, without being even more depressed here, and posts on Centamin are so useful but it can be hard wading through the treacle to get to them.
As I type... Asia following US markets tick back up, Europe futures follow and US futures up, US futures up again. Consensus remains US inflation transitory. No one suggesting the FED start to look at rising rates, but the numbers strength does call in question as to whether the FED needs to buying as many bonds as it is currently on a monthly basis. US data for day (13:30)- Retail Sales Numbers for April, provides more insight. Elon Musk comments hampered crypto, and as mainly retail based, lemmings dominated as normal. Gold up at USD ~1831 as I type. Happy Friday All- especially after the amazing win last night.
Major European stock market indices were in the positive territory in the premarket on Friday, following the sentiment of the previous day's session in the United States, which ended with sharp gains, helping the Wall Street shares recover some of the week's losses.
On the data front, the investors awaited the European Central Bank's (ECB) monetary policy meeting accounts, scheduled for release halfway through the trading bout.
The DAX gained 0.59% at 7:39 am CET, while the FTSE 100 advanced by 0.46% at the same time.
The euro went up by 0.07% versus the dollar to sell for 1.20892 a minute later, while the pound concurrently stood flat compared to the greenback, going for 1.40496.
Breaking the News / BU
Happy Friday y’al
One to watch for the goldies. One question is why would one have faith in the Central Banks?
Markets are losing faith in central banks
Bond vigilantes may stop believing the US central bank’s assurances that inflation is under control and take matters into their own hands.
The US is engaged in an astonishing monetary experiment. The Federal Reserve is still conducting quantitative easing even as the rate of headline inflation hit 4.2 per cent.
Core inflation has risen to a 25-year high of 3 per cent, recording the biggest jump in a single month since 1981. Factory gate inflation has been running at a 7.1 per cent annual growth rate over the past six months, even before full reopening.
The misinformation and jitters in the market, coupled with loss of social capital (yes, even central banks are meant to have this) and faith in Central Banks is a concern
good luck all
the gnome
Yes and POG bounced again
Mr Tibbles
Can I ask that you start a chat on the "general chat boards" regarding your political interests re Brexit etc.
Nothing wrong with debate and discussion but many here want to keep things CEY (and gold) related.
I have various discussions and debtes over there, when they are not stock specific.
Your knowledge with CEY is most helpful to us all, but please keep the subject matter relevant.
Thanks & GL - CSDI
Dow ends more than 430 points higher as stocks take back a chunk of Wednesday's rout.
It has to happen!
Gold looking better, hopeful for up day tomorrow