Stephan Bernstein, CEO of GreenRoc, details the PFS results for the new graphite processing plant. Watch the video 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.
8,400 I mean lol
Gold up, UK. gdp above forecast…
FTSE hovering on 8,4000
Could be a nice rise this morning…
Equities in Europe traded mostly flat in the premarket on Friday ahead of the newest reports on the United Kingdom's gross domestic product (GDP), industrial production and trade balance, and the minutes from the European Central Bank's (ECB) latest monetary policy meeting.
The DAX, the CAC 40, and the Eurostoxx 50 all stood flat at 8:00 am CET. At that time, the FTSE 100 lost 0.14%.
The euro declined by 0.06% against the dollar at 7:59 am CET to sell for $1.07761. Meanwhile, the pound sterling stood flat against the United States currency to go for $1.25205.
Baha Breaking News (BBN) / JR
Happy Friday y’al
Enjoy your weekend
Gold currently $2358.17
160% ?
Now that would be something worth posting
+ 160%. $2345.93
Tibbs I agree but Josef didn't do badly in the early years and from zero he got the mine up and running, problem was he didn't see the incompetence of so called professionals who replaced his original very experienced and highly professional team and people I had dealt with over many years on different mines.
As for uncle Youssef he was never involved as a hands on General Manager they had Mine Managers doing the hands on day to day stuff. He was well connected political senior manager a position you will see in all developing businesses in developing countries. Josef didn't speak Arabic he is a born and bread Aussie and he needed someone to understand the local politics that he could trust. Even his dad Sami lived most of his successful career in Australia and wasn't therefore as well connected, bearing in mind mining was in it's infancy back in the early 2000's. Like it or hate it unfortunately it is the way of the world and things like expatriate employment quotas mean taking some difficult employment decisions.
Hindsight is wonderful but take a look at the gold price in the late 1990's early 2000's when Sami and Josef were trying to get investment for the then Pharoah Gold. It is easy to criticize but as I say credit where credit is due getting a resource up and running isn't easy and this is where Josef has the skills (Not Mining skills).
Exceeds forecast... at last... 231k
https://uk.investing.com/economic-calendar/initial-jobless-claims-294
42,069 views 7 Mar 2024 #gold #economy #KeithNeumeyer
"There’s a rush into gold because of the de-dollarization of the world. It has nothing to do with the interest rates,” asserts Keith Neumeyer, CEO of silver powerhouse First Majestic. In a conversation with Daniela Cambone at this year's 2024 PDAC Conference, Neumeyer confidently reiterates his vision of silver surpassing $100 per ounce. With 1.2 billion ounces in demand and only 820 million ounces in production, there's a notable disparity, Neumeyer emphasizes, highlighting the looming silver deficit, set to escalate in 2024.
https://www.youtube.com/watch?v=QRLP-CePIhc
Major European markets traded mixed on Thursday as investors await the Bank of England's latest monetary policy decision. Today, Ferrovial, Telefónica, EDP, Enel, Pirelli, and Salvatore Ferragamo will publish their results.
At 8:01 am CET, the DAX and the FTSE 100 were flat, while the CAC 40 fell 0.20%. A minute later, the pan-European Euro Stoxx 50 inched down 0.30%.
On the currency front, the euro was flat against the dollar at 8:00 am CET, selling for $1.07435. In comparison, the pound lost 0.06% to go for $1.24906 at the same time.
Baha Breaking News (BBN) / JG
Gold currently $2315.12
Thank you Dasut, but also about a appointing the suitability qualified personnel who will implement the most suitable mining methodology to exploit and develop the reserve.
Tibbs I don't disagree it is however about the resource not a Chairman and Non Executive Director, success will be the grunts on the ground.
Agreed MrGnome,
It's all about parting gullible and trusting investors from their money so the buggers on the top table can keep the sham going for a while whilst filling their boots before bailing out!
Hi Dasut,
Centamin investors past experience is proof enough that Josef never was any expert in gold mining, although he is a privileged El Raghy sibling who was awarded millions of free shares for nothing and can hardly claim to be any expert appointing the right people to run a mine properly considering how many years he was prepared to have another family member who was unqualified in mining,greedy and incompetent, although agreed a former Eygptian police captain as Sukari general manager and also to have permitted Andrew Pardey to continue for so long with his continued incompetence and money wasting projects in his over promoted roll!
It's very easy to claim to have invested in Centamin when you have been given millions of shares on a plate for doing very little!
This is buying old mines (same ol , same ol), dressing them up...and so on....
What a shower!
Before investing into any of these what may be regarded as "Pyramid" schemes people should consider who is it who is putting all the money in and really taking all the financial risk ,certainly not this bunch of board room seat hoppers who participate in a few board room meetings in various supposed potential profitable gold mines, most of which will just be investors money pits
Yet these all non exec board room seat hoppers who put up sweet FA and hold no responsibility for any incompetence in anything else other than parting gullible and trusting investors from their money are the parasites who receive the non exec retainer fees freebie shares and expenses.
What happens when these Pyramid schemes collapse and retail investors lose a packet the same old BOD excuses will be churned out "Oh well mining is a risky business , "The grades didn't stick up, "How were we to know" and then after spouting all this crap they will ride away with their saddle bags full to take up the tops seats on the next gold mine pyramid scheme due to their supposed professional expertise and experience!
There is a history in Western Australia, Josef El-Raghy is non-executive chairman of AIC MInes. https://www.aicmines.com.au/board-of-directors/
Major European markets traded mostly higher in the premarket session on Wednesday amid the publication of more economic data and earnings reports from major companies in the area.
Before the opening, BMW Group posted its latest earnings report. The company announced that revenue for the first quarter of fiscal 2024 decreased by 18.9% to €4.1 billion. Meanwhile, market participants will receive data on industrial output in Germany and more earnings reports today.
At 8:01 am CET, the DAX gained 0.24%, while the CAC 40 added 0.06%, and the FTSE was flat. The pan-European Euro Stoxx 50 was also flat a minute later.
At 7:56 am CET, the euro and the British pound were down by 0.13% and 0.16% against the dollar, selling for $1.07412 and $1.24887, respectively.
Baha Breaking News (BBN) / JG
Happy hump y’al
Gold currently $2318.11
I am not sure that Wia is a big miss I think it is one to keep an eye on albeit currently I believe only on the Australian stock market.
Josef is from our experience a start up guy albeit this came about by default not sure it is what he intended and proven not to be a hands on long term development type when it comes to running a mine but what does a Chairman actually do when it comes to running a mine other than select a strong competent team to bring in results? Pardey is Non Executive Director heaven forbid, this does certainly bring into question someone's skills in recognising abilities.
It will be interesting to see who actually gets the job of running the company namely the CEO or the good old fashioned MD (if Pardey gets the nod then I run for the hills).
Currently a board of Accountants, Geologist and an Exploration guy.
I say this because from experience it isn't unusual for the Majors to use start up teams to get the resource up and running and then give way to Mine management development team to take it through it's plan.
Thank you Cowichan, This seems like some sharp practice by the government and the private companies in order to deny the Eygptian workforce fair contracts of employment and the appropriate wage for doing the job!
Just greed by those at the top who are never satisfied, but it should be put right!
Alt link
Published in the Egyptian media m ((cue Siko response to the contrary!))
May 7, 2024
Sayed Al-Abnoudi
Despite the tireless efforts made by Engineer Tarek El Molla, Minister of Petroleum and Mineral Resources, in confronting the challenges facing the sector, some officials in the ministry and companies are moving very slowly, which hinders finding solutions to any problems.
Many company heads also make efforts to solve the outstanding problems, but they encounter neglect from the minister’s assistants and assistants regarding administrative, structural, legal, and decision-making affairs.
In this context, we review five main issues that deserve urgent attention from the Ministry of Petroleum
Transforming the Mineral Resources Authority into an independent economic body, as the Mineral Resources Authority still suffers from bureaucratic entanglement, as it is linked to more than one ministry, which hinders the flexibility of its work and the independence of its decisions.
Despite President Abdel Fattah El-Sisi’s emphasis on the importance of transforming it into an economic body, this transformation has not yet occurred, which leads to continued restrictions that hinder the optimal exploitation of Egypt’s mineral resources. Transforming it into an independent body under the umbrella of the Ministry of Petroleum will give it the ability to make decisions.
Moreover, hundreds of workers in the EMRA are still receiving less than the minimum wage for many years. It is necessary to take this situation into account and address the Ministry of Finance to grant them their rights, and avoid the routine followed in the Ministry, as this can be achieved either by providing them with fixed contracts or increasing their salaries through the companies affiliated with the Authority and various projects
As thousands of workers have been working under the name “contractor labor” for many years, without enjoying job stability or social security, the sector must strive to legalize their conditions and provide them with fixed employment contracts, this step would spare the sector significant financial losses that would go to the intermediary contractor without any significant effort, ensuring the provision of millions of pounds that could be better invested in serving these workers.
(( That's a direct critique of Capital's 'wasteful $$' middleman status - a tad too late! - which made Capital's execs tens of millions at the expense of Centamin shareholders & quite frankly, at the expense of Egyptian 'contract' workers who missed out on benefits ))
Companies such as Centamin and Barrick are supposed to be at the forefront of the global forces investing in the Egyptian mining sector, but due to the delay in signing exploitation contracts, despite more than two years of negotiation, these companies are still unable to invest their capabilities in Egypt.
the complete article
https://www.linkedin.com/feed/update/urn:li:activi
Hi Cowichan,
Considering the chaotic and shambolic way that crucial operational equipment was run under Pardey & Youssef this seems to be a very prudent and essential course of action!
( Think back when the sole underground LHDR self destructed and Pardey had no contingency plan or any spare parts at hand!)
Should be interesting to see how Pardey runs the Wein Namibia money pit!
Https://www.kitco.com/news/article/2024-05-06/central-banks-bought-16-tonnes-gold-march-sovereign-wealth-funds-are
While central banks aren’t as sensitive to the price of gold as consumers are, Artigas said that record high prices could impact purchases this year. However, he added that there are no indications that central banks’ appetites have been sated yet.
“When the only reserve currency is the dollar, that can sometimes create constraints for some trading partners. And when you have a foreign reserve, such as gold, that doesn't carry any counterparty risk, that can provide a sense of trust. Holding some gold can be very beneficial for these countries,” he said.
Major European stock markets traded positive in premarket on Tuesday as investors awaited fresh reports on German factory orders, house prices and trade balance. Additionally, the latest data on the British construction sector and Eurozone's retail sales will be released later in the day.
The DAX was flat at 8:00 am CET, and the FTSE 100 jumped 1.09%. Meanwhile, the CAC 40 lost 0.24% and the Euro Stoxx 50 added 0.26%.
The euro fell 0.11% against the dollar at 7:58 am CET, selling for $1.07576. A minute later, the pound lost 0.17% compared to the greenback, going for $1.25406.
Baha Breaking News (BBN) / JJ
Gold currently $2321.14
Good point Mr Gnome, Youssef was also on the CAPD registry, it's like a Mafia family, knowing what we know now I wouldn't trust any of this shower and potential investors would be well advised to stay from this potential lavatory of a "Pyramid" scheme!