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I guess the Governments want to own all the banks, because over the next 6-12 months that's what they'll face. China & Russia don't need a war when you have Western governments operating so incompotently.
Good summary carvegyger. So the banks face a 20-40% shortfall in their government bonds, now underwritten by the US government. Both credit suisse & Republic Bank are down today. What would any normal, sensible person/company do, move their money somewhere else! Some idiot on investing. Com seems to think that it's not 2008 all over again, because it's not sub-prime mortgages it's government bonds causing the crisis - I can't think of anything worse.
There's not much volume, I think the drop in price is off the back of the various downgrades by analysts, notably jpm & goldmann & of course the algorithms & whilst the management are incompotent, they can't easily screw up growth in production because of the new mine. Q1 production will be strongly positive yoy I suspect, so it should jump around then if not before. Undoubtedly gold & silver will be under pressure when the markets slide to cover short positions but once that's ridden out they will fly. We've already seen a bit of that over the last week.
So despite the systemic failure of the banking system stocks continue to hold their own. Removing the cap on pensions means that those who ignored the tax & continued to save will now retire (mainly public servants). I'm not entirely sure it will encourage those close to retiring to continue working either, why would you if you can afford to retire.
The results are as expected, silver & gold price are already trading above last year's average, production going up, I would have thought 750 is the base, Q1 results in April should lift the price, selling now when the bad news is out of the way doesn't make sense, admittedly the management do have the potential to screw things up, always
If you are in this share you are not in for the compotentcy of the management, the returns will purely come from a bull run in gold & silver. This is the most incompotent company in the ftse if they were in any other industry they would be bust. But G&S will probably double in the next 12-18 months & no matter how bad their production will be the shares will increase on the back of this.
The fed don't know what they are doing, or to clarify they ignore adjusted economic indicators, in the hope they can delay the inevitable, a complete collapse of the us economy, they need a war, & have tried their hardest to encourage one, against either China or Russia. I hope they rachet up rates & collapse then in panic, but unfortunately the EU & UK are in the same position. So it might well be a very long grind. Eventually propaganda doesn't hold true, we seem to all have short memories, transitional inflation, the us economy is not in recession, the environment as we burn more coal, ukraine as has most of Eastern Europe has a history of racism & facism, of course Russia is no great example, neither are the western democracies
Those results aren't a surprise as is the late delivery of jaunipco. However, forward from here the comparatives are easier & over the next 12 months there will be significant growth, time to buy or hold - anyone exiting is exiting close to the bottom. 2nd half last year was appalling as is this 1st half. Of course that depends on silver & gold prices that look like they've bottomed given the state of the global economy. I guess it might get down towards £6 when the us market opens.
If Fres has to rely on operational excellence & management unfortunately its doomed, only saviour will be if G&S go on a run. I suspect they haven't managed to connect the electricity & achieve full employment. With commodity prices working against them & the backdrop of inflationary pressures their margin & profit will be eroded, at a guess breakeven for 1st half.
Worth remembering silver dipped massively before it doubled during covid along with the stock market, the us is running out of gas to suppress the markets & trying to create internal growth by pretending to support ukraine. We're heading to a point when who blinks first , it'll be us as they don't care about Europe. Germany, Austria and all the other countries in EU have called them out by paying in roubles
So us heading towards recession (sooner then I thought), only 2 quarters required (officially) so that's one quarter, stagflation maybe with us sooner than anyone thought. Despite China's woes with covid (self-inflicted) I suspect they won't have the same problem,perhaps neither will Russia. $200 a barrel coming! In all seriousness has anyone looked at thungela it's a gem!