Ryan Mee, CEO of Fulcrum Metals, reviews FY23 and progress on the Gold Tailings Hub in Canada. Watch the video here.
I enjoy a smoke but you need to lay off the weed pal. That psychosis can’t be good for you. Bold of you to assume that you know my financial position, holding amount or whether I’ve made or lost money here. Your drivel is irrelevant in this BB and is nothing but scare mongering as I’ve said. For all of the BBC’s faults I’d believe them over you as a source of reliability. You will be filtered and don’t expect another reply.
Precisely paddy. Pretty risky to be holding a short position considering the SP averaged near to 300p at the worst points of the pandemic. Compared to then, we’re now in a more favourable position with a positive Q3, OPEC+ wanting to raise the price of crude and possible vaccines in Q1 2021.
The US election is also round the corner. Neither candidate substantially negatively short term oil, but trump being more favourable - however the main thing is a decisive winner to stop the uncertainty and decrease volatility
Additionally the IEM project that oil demand will overtake production by roughly 2 mpb per day in 2021 which would, by supply and demand, increase crude oil prices and thus oiler profitabilities
Still a firm hold for me and will be topping up if it drops back into mid 180s. All imo!
@jack
Indeed sir. Additionally the US is more willing to enact favourable monetary and fiscal policy such as the rampant QE that has taken place since March. We’ve had the CBILS loans, furlough and low interest rates which do help but this is negated by the constant, looming threat of lockdowns and business closures. US have hit record numbers of Covid cases and there’s seemingly no talk about any lockdowns
@jack
I agree with your views on the FTSE. Largely a dog sheet index. Arguably because as a country, we don’t care about our stock market, it’s more of a niche thing whereas the s&p and Dow are greatly watched and cared for by both American investors and policy makers alike.
@tacet
You can argue about the semantics surrounding the virus but it’s very real. People have died and will continue to die. Some deaths are preventable and some aren’t so lockdown debates etc are welcomed but asking for proof is incredibly disingenuous
Maybe they just don't want to deal with the short term volatility. If we can ride out a bumpy 2020, hopefully positive vaccine news and investor sentiment will drive this back up in early 2021
not currently invested here but looking at taking a small position - the market is factoring in vaccines and a hope for normality come Q1 2020 - hence why many covid deflated stocks are beginning an uptrend. I do think that additional unfavourable Brexit news will be a negative driving force within the near future though
@StarKnight
Whilst it seems like the political sentiment of oil and fossil fuels generally is extremely negative at the moment, make no mistake that oil will still play an integral part in our lives. IMO the SP of oilers, predominantly if Biden is elected, have one big post-Covid bounce and then will gradually depress unless they can turn their tides to green energy. Oil will still be needed but after the initial bounce I don't think SP's will be as lucrative as it once was
I put it down mainly to the macro-uncertainty. It started its drop last Monday which coincided with the implementation of the new tier system. Since the business model is impacted largely by covid, the additional market volatility did not do the SP any favours. This is a LTH for me though so I'm not overly concerned by the short term movements
filter him :D