George Frangeskides, Chairman at ALBA, explains why the Pilbara Lithium option ‘was too good to miss’. Watch the video here.
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Well if he says it for long enough maybe one day he will be right like the clock, but over the last few years sadly his calls for great gold rises haven’t struck the hour. I am really hoping his hour will come in my lifetime if only by random chance but at least he keeps some of us hopeful even if gold has, inflation adjusted, failed to get back to its price in 1980. So I hope that Cey reduces costs as promised and raises output as promised, a real rise in gold price would be the icing, but gold is as likely to fall as rise, depending on competing homes for money and investing fashion, despite Andrew’s ever hopeful conspiracy theories, imho, remember Occam's Razor, the simplest explanation (ie fewer buyers than sellers) is usually the best, but at the nasty tail end of the 10 year cycle conspiracy theories always abound. Some may even be right.
Who will buy more than $1.7TN in US Treasury bonds and whether the golden elephant in the room is being ignored as safe haven inflows boost gold’s price?
As 2023 draws to a close, the precious metals expert explains how Comex paper prices can no longer be relied on to keep the price of physical gold artificially low: the game has changed and the gold reevaluation has begun.
https://tinyurl.com/yc8f5c9s
Interesting lecture by Professor John Mearsheimer in Brisbane a week or so again.
https://www.youtube.com/watch?v=62FCVJycwSA
It is painfully obvious that there is no sustainable solution to either side (s) in the US+Israel-Palestine (+Arab) conflict and that the US has now worked itself into a position of global weakness, embedded in the Ukrainian conflict and posturing with China. Interesting Johns reference to a rules based system, but he fails to mention the rules favour the principle originator of the rules, the US, and there lies an issue or 10. Hope I am wrong but it does seem we are going to see a lot of global instability and uncertainty open up, for many years to come. It does not have to be this way...
Who is going to win the coming US Presidential election?
https://www.opensecrets.org/industries/indus.php?ind=q05
Good climate for gold for many a year
enjoy your hard earnt weekend
The Gnome
86.3p is now out of the down channel, but overhead resistance line at 88p.
I'll drink to that!
So much depends on the next quarter delivering on at least the output predicted!
So I shall be leaving the golden flip flops in the pawn shop for now!
Lets hope I have to get them out sooner rather than later!
Yes I will be very pleased if. Centamin recovers to the average I paid and gives me £9.95 profit so can buy those plastic flip flops
Hey hey Tony
here's hoping..............please let 2024 be a good year and maybe we can all get the plastic flip flops as a stepping stone for the long awaited golden
So the charts reveal the normal then Tony, the SP could go up or it could go down- who’d have thought this- (meant in good humour)
Falling wedge towards strong support at 79p may well resolve next week. A move above 88p confirms a major breakout higher for Centamin. Suppression of this stock may well soon end. We have a chart gap in the 100-101p area to backfill. The company has banked another month of high gold prices on a well controlled AISC that has brought forward some AISC Capex under 2024 financial year. This bodes well for Q1 2024.
Equities in Europe traded higher in the premarket on Friday ahead of the newest updates on the Eurozone's unemployment rate, Germany's trade balance, and the United Kingdom's services and manufacturing sectors, and after the Bank of England's (BoE) decision to leave interest rates unchanged. The indexes also reacted to the gains Wall Street observed the previous day as several major companies, such as Apple Inc., revealed their earnings results.
The DAX increased by 0.53% at 7:07 am CET. At the same time, the FTSE 100 grew by 0.43%. The CAC 40 rose by 0.53%. The Eurostoxx 50 gained 0.48%.
The euro went up by 0.07% against the dollar at 7:12 am CET to sell for $1.06291. A minute later, the pound sterling stood flat against the United States currency to change hands for $1.22052.
Baha Breaking News (BBN) / JR
Happy Friday y’al
Enjoy your weekend.
September was another banner month for gold purchases by the world’s central banks, according to Krishan Gopaul, Senior Analyst, EMEA at the World Gold Council.
“Reported global central bank gold reserves, via the IMF and publicly available sources, rose by a net 77t in September,” Gopaul said in an update on Thursday. “Gross sales (1t) were dwarfed by gross purchases (78t), highlighting the strength of buying.”
https://tinyurl.com/ykaa52kc
Hi Dasut,
Thank you for your explanation of the sequence of events and your summing up of how and why the good times abruptly rolled over into a much more challenging and a far less rewarding reality check.of the past several years , I doubt the times will ever be as good again,but hopefully before too long things will become somewhat easier and more profitable!
Hi Dasut,
Great pity that Trevor Schultz didn't keep running things!
Dasut ,it is a delayed and neccesary cost.
As you know well as I ,there is with mining always the un-expected around the corner,costs always high but rewards can be higher.
good luck all LTH.
Fair comments Dasut,
I have submitted the qusrtion to Centamin IR anyway, no reply as yet.
Tibbs
Paul
The good times did come when the SP hit £2 given the price that I first got in at in 2008 was 30 pence. So when I got in the mine was a licence to print money and did very well until a few of my old contacts left the business one tragically died and the other took a well deserved retirement.
Unfortunately we then had a period of a few years where the over promoted geologist followed his nose looking to make a name for himself based on production rather than looking at the wider picture and long term and led us up a blind alley. Those who got out on the high won't think he did a bad job but those who held on think differently.
The rest is history, what we can't get away from however, if it hasn't been mined it is still in the ground so a valuable asset that unfortunately is buried deeper than necessary hence the additional cost to expose, there again is it an extra cost or is it a delayed cost?
Like many of us I have been in CEY for 10 plus years some at the low 45 pence 70/80 and all the way to probably 1.60.
Anyway, I have averaged a bit but still higher than this.............It would be good to see the corner finally coming please god and some positive for the future please. Even my patience will wear thin 2024.
Tibbs my expertise isn't the fine print relating to creative accounting so bow to your knowledge as I say in my submission from a mining perspective.
Hi Dasut
Considering you past processional involvement and knowledge of Sukari an very glad that you should feel that optimistic, lets hope your gut feelings are justified this time!
This needs an explanation Re discussions to alter the original arrangement?
The Annual Report shows payments/disbursements as follows:
$35M EMRA profit share
$24M Egypt royalties
$58M shareholders
So a pretty even split last year -
There is a lot of $ being spent and then 'capitalized' via the Capital waste clearing as non-sustaining the EMRA does have the opportunity to allow or deny a portion, thus Centamin not being able to recoup it, resulting in a payback schedule to the EMRA?
IF such a discussion is ongoing for a significant amount (i.e. if the EMRA demanded Centamin only be able to capitalize a stripping amount equal to the original LOM plan of 5.3 to 1 - I would expect CEO Horgan would be required need to make a clear announcement to shareholders of such a cost-recovery disallowance.
Traditionally these are the kind of things that get buried into the fine print of the annual report see an example on page 152 labelled key audit matter here:
https://www.centamin.com/media/2940/centamin-ar22.pdf
There is more details on the hows and whys regarding stripping costs being allocated as capital on page 182 - where it also notes that the rise in such allocations was deemed as significant!
So this would seems to raise a red flag at the EMRA) 2021 being $59M and 2022 being $141M?
There was something in the report about the 15 year tax holiday coming to and end in 2025 but it also says that PGM will submit a 15 year extension as well. IDK how a 50/50 profit split agreement could also be expected to pay income taxes and why such a holiday and extension would be needed - but I suspect it's not relevant to the share price yet.?
https://wallstreetonparade.com/2023/10/after-two-years-theres-still-no-law-enforcement-report-on-former-dallas-fed-president-robert-******s-trading-like-a-hedge-fund-kingpin/
october 31, 2023.
Tibbs what do you feel still needs fixing because where I am sitting if they achieve 4th quarter production the corner has turned and the new teams have set their own goals to achieve? Major capital expenditure at Sukari coming to an end and a good straight forward new resource in the offing at Doropo.
I am more optimistic than I have been for a long time, not jumping with joy but from a mining perspective I can see some light which reminds me of what I discussed with the Pharoah Gold teams back in the early years.
Next three months are however critical for the BOD to gain confidence from the market.
When aisc falls and gold rises it’s good- the prob has been the upward trajectory of the aisc exceeding the upward trajectory of the product it sells
I only agreed with you on his rationale for the poor SP. If he delivers on the timeframes in the presentation, the rise will be way quicker than you say and will be after what I pointed out
Steve we quite agreed about Horgan’s obfuscation about the share price at the presentation, if using different words. So excluding gold rising or falling from here, as you point out here, the big question is if/when profits will rise which is when ounces are met and then rise and AISC is actually seen to fall so could be at results but really for profits and shares to double more like a year or two if happens imho
The politicians have jumped on the EV wagon for a quick fix, unfortunately it isn't!, there may be far better alternatives!
THE BIG EV LIE. Why They Won't Save the Planet & All About Dirty Electricity | TheCarGuys.tv
https://rb.gy/spg3o
Toyota have a better alternative
https://rb.gy/7a42o
https://rb.gy/lai2v
https://rb.gy/spg3o