Roundtable Discussion; The Future of Mineral Sands. Watch the video here.
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Lets look forward to a better one. I'm hoping that the troubles in the Ukraine and Gaza find quick and peaceful resolutions.
On the Centamin front----lets hope that production figures get met, AISC come down and the gold price remains at this level at least. If that happens then we might get a half decent dividend.
With the recent high gold price that should have pushed the average profit up for the year.
I look forward to your "back of a f-g packet" calculations of profits and dividends---so please do them on a regular basis.
We are waiting for the figures for the last Quarter , where hopefully we should meet the lower figure of guidance at least. If we do that then with the waste removal coming to an end, AND if gold holds this level, then we should have something to look forward to.
Well said Sotolo and yes lets hope 2024 is better than 2023.
In any event I look forward to reading your every insightful comments in the coming year.
So farewell 2023 and glad to see it go, many nasty things including for us seeing our share fall about 13% despite gold rising about 13%. For rival FTSE 250 Hocschild, better news lifted it 50% in 2023, let’s hope Cey can finally recover the profit to pay a decent dividend and lift their shares too. I am not relying on the board but hoping the metal will save them/us which is of course not a great view! Here’s hoping …..and may 2024 be wizard in all respects to all here and our fellow planet inhabitants human and wild (or both)
Kicking off big time in the Red Sea, gold to spike on the Asian open tonight again?
Happy new year all
The Alberta Securities Commission has fined a woman $400,000 for insider trading after she purchased nearly $350,000 in shares of Leucrotta Exploration Inc. just before her employer, Vermilion Energy Inc., entered an agreement to acquire it.
According to the agreed statement of facts, Behjat Haghshenas, who was employed as a senior reservoir specialist for Vermilion at the time, was working on the deal between her company and Leucrotta in March 2022.
Shortly before the deal was completed, Haghshenas used her partner’s account to buy 265,000 Leucrotta shares worth about $349,150.
https://www.bnnbloomberg.ca/vermilion-energy-employee-fined-400k-for-insider-trading-1.2016112
Several new bills filed in the Oklahoma and Missouri legislatures are seeking to eliminate state capital gains taxes on the sale of gold and silver, and also contain provisions to treat the precious metals as money rather than commodities, according to a recent article by Michael Maharrey for Schiff Gold.
https://www.kitco.com/news/article/2023-12-27/new-state-bills-would-treat-gold-and-silver-money-eliminate-capital-gains
Looking specifically at gold, Wells Fargo expects the precious metal to trade between $2,100 and $2,200 an ounce in 2024. John LaForge, head of real assets at the bank, said in an interview with Kitco News that while gold has solid potential to see record-high prices next year, the market needs a sustained break above its recent all-time highs.
He noted that gold has been range-bound for the last three years, underperforming broader commodities, which is why some investors are hesitant to jump in.
“Right now, gold has to prove itself. Investors are saying: ‘Show me the breakout.’ I think once the market gets above $2,100 with some conviction, then it’s going to be a lot of fun,” LaForge said.
https://www.kitco.com/news/article/2023-12-26/its-going-be-lot-fun-wells-fargo-sees-gold-trading-high-2200-2024
Major European stock exchanges traded mostly higher in the premarket ahead of the last trading session in 2023 on Friday in anticipation of the United Kingdom's Nationwide housing prices data. In addition, the London Stock Exchange will be closing earlier today, due to the New Year holidays.
The DAX was 0.07% lower at 8:00 am CET. The Euro Stoxx 50 increased 0.27%, while the FTSE 100 rose 0.12% at the same time. The CAC 40 grew 0.07%.
The euro traded 0.08% higher against the dollar at 7:58 am CET, selling for 1.10736. The British pound increased 0.31% against the greenback to go for 1.27726.
Baha Breaking News (BBN) / DD
*Business day
Friday 29 December 2023
New Year Holiday “half day closed”
Markets closing process commences from 12:30
Monday 1 January 2024 New Year Day “full day closed”
Gold currently $2073.06
Happy Friday and New Year’s y’al
Enjoy your weekend
Hi Mr Gnome,
When considering the sheer greed and corruption that exists amongst the Eygptian officialdom who are complicit or more than willing participants in fraudulent activities to line their own pockets then its hardly surprising how long the Sukari concession court case dragged on, likely had the company been willing to grease palms then the case would have been over in a trice, that said I am relieved that the company wasn't party to any such criminal activities!
Thanks Mr T
Same ol, same ol I guess,
Jail for life would not be a bad outcome
The Gnome
A number of Egyptians were arrested on Tuesday over their suspected involvement in a profiteering ring that has allegedly been withholding large quantities of essential food from the country’s markets to drive up prices, a state-affiliated TV channel reported.
Those arrested included the deputy minister for price regulation and distribution of supplies, media outlets said. He is accused of taking large bribes from private companies to withhold items such as sugar, rice and flour from Egypt’s markets to drive up prices.
A number of civilians were also arrested on suspicion of involvement in the scheme.
https://www.thenationalnews.com/mena/2023/12/06/egypts-supply-ministry-deputy-arrested-over-alleged-food-price-corruption/
That headline inflation dropped for the second month running was hailed as a positive sign for Egypt’s ailing economy, Naeem Brokerage said.
“Without the official hikes in the price of cigarettes and gasoline, monthly inflation would have slowed down to 0.5 per cent, the lowest since June 2022,” the company said.
It predicted headline inflation would drop to 33 per cent in December, driven again by the favourable base year contribution, which should “offset any unexpected spikes in monthly inflation amid further weakness in the Egyptian pound in the parallel market".
https://www.thenationalnews.com/business/economy/2023/12/11/egypts-headline-inflation-drops-for-second-month-running-to-hit-346-in-november/
Cairo
Dec 27, 2023
Egyptian banks, all of which have in recent weeks tightened depositors’ access to US dollars through debit and credit cards, are still operating at the official exchange rate of 30.9 Egyptian pounds per US dollar.
However, analysts have warned that the Egyptian pound is severely overvalued, which has made dollar holders sell on the black market instead.
https://www.thenationalnews.com/mena/egypt/2023/12/27/egypt-pound-dollar-exchange-rate-fx/
Hi Guys,
Hope you are all well and had a lovely Christmas!
The guys in the bar last night reckon that that the POG is due for a decent rise in 2024, said their clients are taking long positions!
Hope this will be good for Centamin!
Happy New Year!
Pam
XXXXXX
Major stock indexes in Europe traded higher in the premarket on Thursday with the last session of the year just around the corner. Although the majority of European Central Bank policymakers steered clear of talking about interest rate cuts, traders seemingly hoped that the monetary policy easing could begin in 2024, boosting the positive sentiment on the markets.
The DAX gained 0.29% at 8:00 am CET, while the CAC 40 added 0.23% and the FTSE 100 rose 0.37% at the same time. The Euro Stoxx 50 increased 0.53% concurrently.
The euro edged up 0.06% against the dollar at 7:58 am CET, selling for 1.11125. The pound traded 0.07% above the greenback and went for 1.28081 simultaneously.
Baha Breaking News (BBN) / AY
Gold currently $2086.15
Three breakout attempts have been made at this level this month. Although pushed back to 2077, the energy to break through is increasing.
Currently $2081.95
High of the session $2082.43
Gold currently $2065.53
🤭
Gold price 3000 ?
Major European stock indexes traded mostly higher on Wednesday during the first premarket session after the Christmas holidays. The Middle East crisis remained in the focus of investors' attention, as the Israeli military announced that the war in Gaza would last "many more months." Additionally, Yemen's Houthi kept launching strikes on commercial ships in the Red Sea, pushing oil prices up.
The Dax climbed 0.24% at 8:00 am CET, while the FTSE 100 was flat. At the same time, the Euro Stoxx 50 gained 0.63%. At 8:03 am CET, the CAC 40 added 0.26%.
The euro was flat against the dollar at 7:58 am CET, selling for $1.10443. The pound was also flat compared to the greenback, to go for $1.27303.
Baha Breaking News (BBN) / JJ
Gold currently $3065.53
There is a growing cult, the walking talking clueless, it seems...
Noted Global Economist Paul Krugman fesses up
So, rising bond prices are good news all around. What’s going right?
Basically, nobody knows. When an individual stock rises or falls, that might reflect traders’ special information or expertise. But bond traders work off the same macroeconomic data available to anyone with internet access.
Analysts offered a variety of explanations for rising interest rates this year — it was the federal budget deficit, which shot up because of a decline in revenues; it was the boost to business investment caused by the Biden administration’s industrial policies; it was optimism about future economic growth driven by artificial intelligence. But as far as I can tell, there’s no solid evidence for any of these hypotheses.
Clueless, and that the way the world seems to be going?
But things will get better in 2024, espcially in regard to gold prices
enjoy
good luck
the Gnome
Thank you Tornado, seems to prove what Andrew Maguire has been saying for some time!
Russia's second-largest gold producer Polymetal prefers to sell its gold abroad since Russian local banks buy the precious metal at a discount.
In light of Western sanctions imposed on Russia after its invasion of Ukraine in February, Polymetal's options of selling its gold are limited. The miner has been targeting non-sanctioned banks, Bloomberg reported, citing the company's CEO Vitaly Nesis as saying during an investor call Monday.
Russia's second-largest gold producer Polymetal prefers to sell its gold abroad since Russian local banks buy the precious metal at a discount.
Https://www.zerohedge.com/news/2023-12-25/who-deep-state-cabal-illuminati-dark-ones-brotherhood-snake
A must read for Mr Tibbs.
NOW AT $2069.