Roundtable Discussion; The Future of Mineral Sands. Watch the video here.
Thanks Paul
The Maxwell innings was magic. It would be hard enough to do that when you are 100% fit but with his raft of ailments, just incredible...last 70 runs scored on one leg?!
Match highlights (and it was a great game of cricket)
https://www.youtube.com/watch?v=31pI72xop4k
And the after match interview with Maxwell, worth listening to
https://www.youtube.com/watch?v=fqX9Pl0HiXk
Its a pity the Israelis and Palestinians cant solve their differences on the cricket field
best
the Gnome
Cowichan, really
You do take yourself very seriously, have you ever asked yourself why? Life is shorter than you think. My comments were a tad frivolous, with a jive at the US hegemony which everyone seems to worship. An exhorbitant privilege as some call it.
Do you consider yourself balanced in your opinions about CEY and its prospects?
Are you positioning for a sainthood, in your revelations?
Dont get me wrong, being Oorstralian, I do like the concept of KEEPING THE BA$TARDS HONEST, and do love to turn the ship upside down to look for barnacles...
Lets get some balance going...
They are trying to position CEY as a Tier ONE gold Co.
They inherit a Geological dream, that was turned into a nightmare by some ... persons one of whom "inherited" another geological dream with Predictive Discovery, and they have gone nowhere slowly, despite being on the of the most exciting discoveries in the last 10 years ,,,,....
Can I challenge you, to tell us why you invest the few years you might have in your life, with your commentary on CEY, which does seem a tad biased?
I backed the horse which ran 2nd in the Melbourne Cup, my Grandaughter cleaned up again as she did last year, adn there were some stunnning fashions as usual ....
https://style.nine.com.au/latest/melbourne-cup-day-2023-fashion-best-looks-celebrities-stylish-outfits/5db3a434-033a-4413-9442-2f0b483c3d87
To stop a nation for a day, for a horse race which lasts 5 minutes ? Irrational dont to you think....
Lets get balanced, CEY are in a fr better position than a few other companies
kind regards
the Gnome
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
Thanks Tony
I do feel terribly sorry for the next generation who has to put up with this legacy BS. Its a pathetic effort all round, with neither side showing any abilitiy to learn from the past 2,000 years, not to mention interfering forces interested in feathering their own nest.
The US looks after the financial system it largely created, which oddly perhaps favours themselves !?
All I can say is thank goodness none of my 6 children have ever bought a newspaper, are completely uninterested in the endless anxiety machinery, and are disinterested in peoples who resort to violence as a means to an end, and we won't mention "democratically" electing "well meaning?" psychopaths...
I am off for a friendly howl at the moon, and a splash in the sea ...
Must work on my sense of humour more often ... the alternative does not seem to be that good ...
best
the gnome
Hard to see a sustainable end to the daily insanity. An expansion seems more likely
US and coalition troops have been attacked at least 19 times in Iraq and in Syria by Iran-backed forces in the past week. Hamas, Islamic Jihad and Lebanon’s Hezbollah are all backed by Tehran.
Iranian Foreign Minister Hossein Amirabdollahian said at the United Nations on Thursday that if Israel’s offensive against Hamas did not stop, the United States would “not be spared from this fire”
Who pays for the insanity? Gold looks good ...
The Gnome
Interesting comment Cowichan
I notice the gold price they use is $1600 per ounce. I would suggest it would be a bit more than this. Impact?
..and where will the POG be in a year?...
Mr Hockey (Oz´s ambassador to the US) lamented that Western governments of both the left and right had lapsed into an “abyss of populism”, one in which politicians readily racked up debt instead of making difficult decisions. He said this was a trend that could “come to an end” through a debt default....painted a picture of a Latin American-style future for the US and Europe, if the markets ever lose confidence in those spendthrift nations’ ability to service their ever-expanding debt.
Mr Hockey told the Institute of Economic Affairs in London on Tuesday (AEDT).
“Political leaders are afraid of hard decisions, when everything can be bought with borrowed money. That sense of entitlement, that you can give people everything they want, is a cancer in our community.”
As a result, even though the US capital market was the world’s most important, and the country’s markets were still the go-to safe haven, “the risk of default has unquestionably increased”.
“The US keeps going because the US dollar is the default currency of the world. Until it’s not. And you can see other countries starting to gather around alternative currencies. I think markets are more liquid and wider and broader than ever before. So it can come to an end,” he said.
I believe the world has got to move off its unhealthy devotion to the US$. It is singularly unhealthy, and the moves have been underway for a time now.
The war drums are again beating in the usual places, a bit louder than previously. More debt for the US as it limps from one war scene to the other...and why? Plenty of things to divert people analysing the unserviceable debt build up ... its great when you can print as much money as you like as you own the currency ... sure you can huff and puff about it, but you print it anyhow...and kick the tin down the road to future generations.
So we have the situation where the young fight the present wars, and then pay the future debts. Well done governments of today. History wont judge you well.
the gnome
Mr T
Why dont you compile all questions asked, AND ANSWERED
and all asked and NOT ANSWERED
...and put them on this forum
Then we can use this forum to good effect and see the nature of the persona we are dealing with ?
cheers
the gnome
Pual
It is rather odd.
Suggest we have a major shareholder selling... could be taking a profit off the table (LT shareholder?) or could just be rebalancing the portfolio using other peoples money.
All the rubbish around the globe must be supporting gold, and it does look like the players are trying to expand the war efforts in Europe (Glad we live in Australia, people still dont now we exist)
I dont think Doropo is a dog, and do think the CEY team has the capacity to deliver the project...they have more than Doropo in Ivory Coast, and it is a good geological place to be hunting for gold ...
I dont think the sky is falling ... but isnt the media having a ball ... they did a cracking job with COVID and now back on the old playground, Russia, US, Israel, Middle East, China steaming ships thru the Suez, Hospitals being bombed (?)..be great if they were held responsible for the fear they cause...
So some heretical thoughts ... but great time to buy CEY
cheers
the gnome
Yes, strange old world ... Some v interesting if not balanced (there is a lot of unbalanced stuff floating around) conversation ?
We are pleased to announce the release of the next instalment of John Anderson Conversations, with Victor Davis Hanson.
John is joined by military historian Victor Davis Hanson to discuss the escalating conflict in the Middle East. This conversation was recorded on Wednesday the 18th of October.
Hanson argues that Israel is in a unique position to retaliate unencumbered by American opposition, due to the bi-partisan support it currently has in the US. However, he contends that conflicts like this, and others such as the war in Ukraine, would probably not have transpired had President Trump still been at the helm.
Victor Davis Hanson is an American classicist, military historian, columnist, and farmer. He has been a commentator on contemporary politics for the National Review and The Washington Times and is currently the Martin and Illie Anderson Senior Fellow at Stanford University’s Hoover Institution.
In addition to writing hundreds of articles, book reviews and newspaper editorials, Hanson is also the author of twenty-four books and hosts a regular podcast series, 'The Victor Davis Hanson Show'. Hanson was awarded the National Humanities Medal in 2007 by President George W. Bush, and was a presidential appointee in 2007-08 on the American Battle Monuments Commission. His latest book, The Dying Citizen, was published in October 2021.
https://www.youtube.com/watch?v=FG0cgViEcc8
Its good to get away from the trail of the lemmings
best the gnome ... and go gold !!!
Everyone in financial markets seems to have a different explanation for why US bond yields have reached their highest level in 16 years. now...distilled down to just three.
Jerome Powell started with what was not causing higher yields that translate to rising borrowing costs for business, government and households.
“It’s not apparently about expectations of higher inflation. And it’s also not mainly about shorter term policy moves,” the Reserve Bank chairman said on Thursday (Friday AEDT).
Federal Reserve Chairman Jerome Powell said the Fed was “attentive” to the rise in yields. AP
Powell means financial markets are not trying to guess what the Fed is going to do with interest rates in the short term because if they were, they would have pushed up yields substantially on shorter term yields such as 2-year bonds. Instead, the higher yields have been on longer dated bonds.
So, then why push up yields on longer dated bonds?
“Markets and analysts are seeing the resilience of the economy to high-interest rates. And they’re revising their view about the overall strength of the economy and thinking in the longer term, this may require higher rates.”
Second, Powell points to the fiscal side of the ledger.
“There may be a heightened focus on fiscal deficits,” he said, “concerns over fiscal deficits could be a longer-term factor.”
Powell has just returned from the latest World Bank and International Monetary Fund meetings in Morocco where he heard that a lot of “countries are facing the need for substantial amounts of revenue....[for] military, there’s also dealing with climate change”.
“It’s not a secret...we know that we’re on an unsustainable path fiscally. It’s not that the level of the debt is unsustainable, it’s not, it’s that the path we’re on is unsustainable, and we’ll have to get off that path sooner rather than later.”
Powell then moved on to the third reason: better compensation for putting your money in bonds compared to equities, especially if the supply of bonds is bigger, pushing down their price. Prices move in the opposite direction to yields.
“Another one you hear very often is the changing correlation between bonds and equities.”
“If we are going forward into a world of more supply shocks rather than demand shocks, that could make bonds, a less attractive hedge to equities. Therefore, you need to be paid more to own bonds, and therefore, the term premium goes up.”
Powell said these changes were all pointing to higher borrowing costs. “If you look at financial conditions indexes, they’re showing tightening and a lot of that is because of longer rates,” he said.
IT WONT BE THE SUPPLY SHOCKS BUT THE MILITARY SHOCKS ...QUITE LUDICROUS FOR NATIONS THAT REGARD THEMSLVES AS DEVELOPED....OR EVOLVED
Go Gold
The Gnome
Amazing series of events in Gaza and surrounds, by (probably a smaller group causing the strife, than those forced to suffer the consequences, again) people who continually demonstrate they have learnt nothing from history (are they capable of learning, and if not then what does this imply?).
When will it end? and How? 2,000 years of history suggests it will be ongoing----»
It does make me wonder what G*d thinks of the goings on,
just a passing thought and comment for what its worth ...
Good luck to all those who are forced to suffer ...
the Gnome
Thanks Cowachin.
As I alluded to predictions in the mining industry arent too good.
Notes
1. I am intrigued about the small range of ASIC costs now predicted in January 2024, so obviously more confident about what these are likely to be. The closer to the event generally your ability to predict is better, and you are more confident
2. Jan 2022 to Jan 2024 has seen a few events (which are continuing) which cause costs to rise. COVID, Ukraine conflict, and now the ridiculous events in Gaza. Lets imagine inflation measures are a guide to cost increases and in Egypt we see numbers like "In the long-term, the Egypt Inflation Rate is projected to trend around 11.00 percent in 2024 and 8.50 percent in 2025, according to our econometric models."..thats per annum. If you look at the midpoint of the respective ranges, and compare the difference you see that it is about 13% over the 2 years. My guess is inflation in Egypt about 14-16% over same 2 year period (I suspect a little on the low side) and in the US about 12% (I suspect a little on the low side)
So am I not gnashing my teeth and howling at the moon about the difference. No.
The change in strip ratio is worth commenting on and explaning, and has not been, that I have seen. A competent CEO would explain this to his/her owners (the shareholders), especially those that have suffered from disclosure issues in the past (as CEY shareholders have). I do not know enough of the detail in variance on grade, geometry, geotech, geomet, to comment, but the CEO obviously should. I would pursue this line of questioning until a reaosnable answer is provided
regards
the gnome
AusIMM Melbourne Branch, 2013 7
In the 1970s, a study for the World Bank showed
that in the first year of operation after
commissioning, 60% of the mines and 70% of the
treatment plants surveyed achieved a production
rate of less than 70% of design capacity
...(gulp)
and so on ... who counts?.. the shareholders and investors
one of the problems with mine development is that a lot of money is invested on information which is sp**** (drilling, 0.003 % of the volume of the orebosy is sampled), directionally biased (steep and commonly in one dip direction) and sometimes of variable quality (geological logging for example)..and then when you can get to metaullurgical plant design...well that is extremely sp**** information inferred by use of non linear look up tables from geology (read above). in fact i have often wondered how any of the planners can put their hand on their heart and say they think they are within 15%...in realith most of them do not perform to feas study specs!?!
https://www.amcconsultants.com/experience/why-feasibility-studies-fail
https://minassist.com.au/why-feasibility-studies-fail-a-summary/
this is a classic ... so rarely done by the mining industry, and even more rarely (for obvious reasons) made public
https://dokumen.tips/documents/why-feasibility-studies-fail-melbourne201302presentation.html?page=2
for a simple steeply dipping tabular orebody the stripping ratios increase as the depth of the pit increases. basic maths
if you have an irregular orebody, then the stripping ratio can "wander", and be a function obviously of ore geometry, geotechnical elements (steep faults some which might be missed by steep drilling)..but in general there will be a trend of increasing strip ratio with depth.
if you have surprises like you develop into a hitherto unknown steep fault (it happens), you can have wall failure and the stripping ratio goes up...as waste tonnes goes up ...
and on it goes ...
i have given a few talks about dishonesty (and a few related issues) at conferences, only to be mugged in the car park or a public bar not long after ... cest la vie ....
regards
the gnome
Ashamed of ourselves. You might want to do some research on how the aboriginals have been treated, by who and when and where. You might find some funny goings on.
its a sad affair all round, but not unlike the history of other countries.
The important thing is to build a future, and not getting lost in the past, which no one really knows much about, and tends to be written by various people with various agendas and biases.
We have wasted $0.5 b which if well managed could have greatly helped out the aboriginal people who still live in poor style, and many of course do not live in poor style.
You might have seen that the only people who voted for the referendum for the voice, were the elites in Canberra, playing to their own book LOL
regards
the