Roundtable Discussion; The Future of Mineral Sands. Watch the video here.
I think CEY are in a very interesting of not excellent position.
They are in Egypt, they do know how it works and how not, they have systems, people, processes in place which work. They have highly prospective ground, including some excellent high grade ore, which could last for decades.
I would understand that substantive Mining newcomers, would be very apprensive of making a committment which in essence would be of the order of 20-30 years, when there is so much uncertainty and ineptitude on display because of the government. The Govt needs some help, needs to listen, and needs to act to make mining investment a far better propositon to long term investors.
If CEY can hold the line, maintain and expand their position, things could unfold to their advantage.
Like to have a punt in the Sudan, or Ethiopia? A splash in Burkina? Lose your shirt in Zimbabwe, or be nationalised in your favourite South American nation ...
Strange world, things are not all bad for CEY
best
the gnome
Cowichan
The common person is not buying gold at a scale that moves the dial. Never been this way
The commodity traders are in and out like Jack Flash and can trade on a scale that will turn the dial. Why do they trade? To make money and commissions. Been this way for decades
The economist led Central Banks (who influence traders) are meshed into hype and ideaoligies, and basically know not what they do.
The politicians need no education, degrees, industry acumen or industry experience. Just a lot of popularity ... and they set various policis which incluence economies
And the circus creates near chaos and somehow people are amazed
Good luck punters. I just go "long" through the noise
cheers and beers
The Gnome
There are no limits on the amount of fiat money which can be issued, and this has been going on for decades. It is the only way the economies can be managed. Money is an efficient payment mechanism for goods and services and not store of wealth. Why people are continually confused about this is beyond me. The results are a continual depreciation of the value of the exchange mechanism (money) ...
Gold is a store of weath, an exchange mechanism, and has utility because of its exveptional physical and chemical
characteristics
I dont agree witht he Govt approaches on Covid and still don't.
Any approach to a pandemic must be based on rigorous science, not politisation, fear mongering, exploitation of mass hysteria, and the endless talking heads, who know nothing and say less.
I still listen to those with unusual but severe heart conidtions, who have taken early retirement, as they cannot do anything less. A very fit friend in his early 60's spent 9 months in hosital critical care after taking his 2nd vaccine. Invalided out of employment now, as just has not the energy. Another, had severe heart conditions after his Vacc shots, which then saw him rapidly "tranisiton to retirement" from the UK Special Forces ?
More to tell, but really the whole affair is anything but fair and transparent. Why dont we leanr from mistakes of the past?
Now you know?
Good luck
The Gnome
Very interesting trying to "balance" all of the paper stuff (Fiat currencies.) It reeks of fabulous poiliics, and hopeless logic
Get into real assetts as soon as possbile and ont forget gold
Tech stocks led the way again, with Tesla’s winning streak now stretching to 13 consecutive trading days, as it added 3.6 per cent. The gains over that 13-day period now sit at a mind-blowing 41.45 per cent, adding $US300 billion ($443 billion) to the market capitalisation of Elon Musk’s giant?!
What’s happened to Tesla’s stock neatly encapsulates the speculative forces pushing Wall Street higher. There’s been precious little news (?) for the stock to trade on – aside from a promising deal on electric vehicle charges, a nothing-burger visit to China by Musk and Ark Invest’s Cathie Wood talking Tesla up for the umpteenth time (yawn?) – and yet the standard-bearer for tech speculation among retail investors is up 41.5 per cent in a touch over two weeks...and where is the reality, the substance, lotsof smokes and mirrors?!
It’s becoming clear that the combination of cooling inflation, the return of retail investors and professional investors buying tech to make up for their poor performance can keep pushing this rally along.
The latest Bank of America Fund Manager Survey showed on Tuesday night, fund managers are deploying cash but remain underweight stocks and have crowded into two assets: institutional-grade bonds and big tech.
Otherwise, sentiment remains stubbornly low, with particular bearishness around economic growth.
Thre i a tremendous push on wage and salary increases, with NO eidence of any productivity increases. This is where the battle is going to happen, and it wont be a great result...
fingers crossed
the gnome
Thanks Mr T.
CEY hareholders are not orphans, matter of fact one could stick most of the resource companies into the same boat, and we wont mention industrials and the tech stocks.
There is some very clear legislature about no-discolsure, and I would love to see the regulators get off their a#sses and get after these boards and CEO/MD types. It is ludicrous to have legilature (well crafted or not) if you dont get peple to follow it, and if you do not get people to stick to it 24/7
cheers
the gnome
Steve
I would not be holding my breath on the CPI. In Oz
Rents through the roof if you can find a place
Cost of borrowings to finance house are way up (of course
Cost of food and drink are ALL up significantly...The monthly CPI indicator rose 6.8% in the twelve months to April.
The most significant price rises were Housing (+8.9% a lot of people would argue the figure is way too low), Food and non-alcoholic beverages (+7.9%) and Transport (+7.1%). Alcoholic beverages are signifcantly up, so much os that some people have cut down to a dozen tinnies and a bottle of vino a night! We have wages increase, but no productivoty increase etc...
So does not look good from downunder
best
the gnome
For those wanting light relief from the drama of watching CEY SP go up and down...
https://www.youtube.com/watch?v=Sj6-QDVYbv8
If you laugh at this there is more on the many financial advice channels...
best
the gnome
You wonder when the rot will stop.
If we judge by Wall Street’s reaction to the debt-ceiling crisis, most investors agree with Biden that, for all the noise and theatrics that emanate from Washington, the American political system is still capable of carrying out some basic tasks that require bipartisanship, such as resisting the urge to blow up its golden goose (!!!)—the U.S. bond market. During the past few weeks, as the “X-Date” approached, the markets remained pretty calm, indicating faith that a debt default wasn’t a serious possibility (whoever thought it was??). And, on Friday, following the vote in the Senate, the Dow climbed seven hundred points. (To be sure, a strong payrolls report for May also contributed to this.)
Fitch believes that repeated political standoffs around the debt-limit and last-minute suspensions before the x-date (when the Treasury’s cash position and extraordinary measures are exhausted) lowers confidence in governance on fiscal and debt matters.”
My confindence was lowered a long long time ago, and the thing that amazes me is that there is anyone who has condfidence in a system.
Fitch is essentially arguing that the U.S. political system is suffering from slow rot. As well as pointing to the repeated episodes of brinkmanship over the debt ceiling, the ratings agency cited “increased political polarization and partisanship as witnessed by the contested 2020 election,” and how a “failure to tackle fiscal challenges from growing mandatory spending has led to rising fiscal deficits and debt burden.”
good luck to us all
best
the gnome
The small sale artisnal gold mining has been going on for centuries, perhaps more people involved now. Its a hit and miss operation...
Mali reportedly "exports" the same amount of gold as is reported in Ivory Coast, Burkina not far behind...and has done so for decades.
There are millions of people making a living this way in Iv Coast, Burkina Faso, Mali, millions that otherwise might find life a lot tougher...certainly no implying ASM as easy pickings.
I have been in numerous ASM sites thrughout Africa, and in none would I have much idea as to how much gold they are producing. The amount of dirt moved and holes dug can be very misleading. In fact I have been embarrassed at estimating gold grade/content from samples more than not. So I am intrigued as to how robust their figures are.
Generally when a large company comes into a site, they ring fence the resources, area of interest. They employ permanent peoples. They develop a relationship which allows people to understand that given commerciability of the gold deposit, then a large mine with a 10-20 year mine life will de developed, and provide employment, education, better health to the local persons...and so on ...
The development of small and large gold mines is in general good for the countries and communities. It is a pity there is not more regulation and environmental and human safe guards put in place, which would not be hard to do.
best
the gnome
The gorilla in the open paddoks are the fiat currencies (not assets) being propped up (LOL) by trust in a system that has constantly devalued the fiat paper they print.
A bit tortuous, but really dont believe the BS in the media, or the headless chooks which get paid per shreek! or per word
Just look at history, its fairly clear
the Gnome
Lucky
I think the POG is a result of a (complete?) loss of faith in the ability of the Central or Reserve Banks to be able to manage outcomes of the economy. They have demonstrated almost consistently (!?) an inability to be able to provide leadership to the financial and broader communities. The zero interest rates, for toooo long started the ridiulous management initiatives of recent, and now we have too many interest hikes for too long, and certainly in Australia we are heading into recession becuase of the Reserve Banks stupidity or incompetence or both, with the only question being how bad it is going to be, and how much of the population it is going to affect. The stupidity has even been noticed and then acted upon by the government, such that there has been a stripping of its powers (LOL) https://www.sbs.com.au/news/article/the-rba-has-been-given-its-biggest-overhaul-in-a-generation-what-does-this-actually-mean/8gy4dx86d
It is really quite ridiculous how they have been able to get away with such nonsense for so long. Reminds me of the Emperors New Clothes, and how the old stories ring true.
I will take my medicine now, and be able to laugh tomorrow!
best to all
the Gnome
When you dont know what to do do who do you turn to for guidance
The latest Bank of America global fund manager survey might help explain why equities are struggling for direction. It suggests investors are still mainly bearish, but in a bullish kind of way.
The headline picture says overall sentiment has fallen to its lowest point since the start of the year, and remains at similar levels to that during the GFC. A net 65 per cent of respondents expects the global economy to weaken, while hopes about Chinese growth are fading rapidly (quite reasonably, given the tepid economic data released in the past week) and cash levels ticked up again this month to 5.6 per cent.
Historically, Bank of America says anything above 5 per cent has been a signal to buy stocks, making this an unequivocally grim picture.
Or maybe not. The clear majority of investors remain in the camp that the global economy is heading for a soft landing (63 per cent of investors). Most believe the worst of inflation and interest rates are behind us, as 61 per cent of fund managers say the US Federal Reserve has raised for the last time and rate cuts are most likely at the Fed’s meeting in January next year.
Although the percentage of investors expecting a resolution in the debt ceiling crisis before the X-date did fall 9 percentage points during the month, it still remains at 71 per cent.
It’s also notable that although fund managers remain underweight on stocks, they have nudged their allocation to equities to a five-month high. So, what are they buying?
Tech stocks are the big one, as allocation to such shares has surged 22 per cent since March. That’s the biggest two-month jump since March 2009 and is described by Bank of America strategist Michael Harnett as a flight to safety.
Allocations to global consumer staples and industrials have also lifted slightly. Investors have also stayed overweight on healthcare stocks since January 2018.
Banks are on the nose. Equity allocations are down markedly and fund managers are nominating being short on the banks as the second most crowded trade in global markets, behind being long on big tech.
Fund managers want nothing to do with real estate (a blow-up in commercial real estate is seen as the biggest tail risk in markets). They are also shifting away from commodities, which have been seen by many investors (including the Future Fund) as a hedge against inflation.
Again, this commodity shift speaks to the bullishly bearish sentiment.
Investors’ cash holdings say they are positioned for a range of potential macro problems, including recession, slowing global growth, a spluttering China and even a debt ceiling disaster. But what they actually expect is a Goldilocks soft landing outcome, where inflation comes down, central banks cut rates and corporate earnings remain relatively stable.
I am still sitting on a more than healthy amount of cash, with a healthy touch of gold aand one other energy m
Mr Bond
Indeed, Real Balanced Science and Engineering is sadly missing from the "debate"/ discussions on climate change. Its all a bit too hard for the politicians to understand (remarkably few politicians are scinece and engineers?), and the economists have little to do with the real world etc etc ... BIt like the waltz of the Lemmings at the moment
I have just called into Europe and am roaming through the last 2,000 years of life in the trees, so to speak ... As most scientists know, the climate has changed significantly for time to time in the last 2,000 years, and 20,000 years the hole place was under 2-5 kms of ice?! To briefly digress from the magnificence enduring presence of gold ... (some things dont change?)
The Little Ice Age was a period of bitter winters and mild summers that affected Europe and North America between the 14th and 19th centuries. The cold weather is well documented in written records and supported by paleoclimatic records such as tree rings, glacial growth, and lake sediments. These paleoclimatic records serve as proxies that register past temperatures, confirming that it was colder than usual.
Thanks to paleoclimatic records, climate scientists have identified four cold and warm “climate epochs” during the past 2,000 years: the Roman Warm Period, which covered the first centuries of the Common Era; the Dark Ages Cold Period, from 400 to 800; the Medieval Warm Period between 800 and 1200; and, most recently, the Little Ice Age.
The Last Ice Age in Europe was at its peak about 20 000 years ago. At that time in the Northern part of Europe, many areas were covered with ice as much as 3km thick (defintiely more in places?). The mountainous regions of the Southern part of Europe, for example the Alps, Balkans, and Pyrenees, were covered with thick ice sheets...and living int he UK was not that desirable despite the enticing visa plan they had operational?
All the best, keep a sense of humour
best
The Gnome
Interesting discussion on the science and engineering aspects of energy production.
https://www.youtube.com/watch?v=reaABJ5HpLk
There is so much hot air that is not helpful.
I appreciate is off topic, but worth a listen, as energy matters do crop up very often
regards
The Gnome
Well, Peter Schiff is being intervewed by Jordan P
https://www.youtube.com/watch?v=Bbi-_nn4zaw
and some more
https://www.youtube.com/watch?v=r44D4pddEq0
good luck to us all, looks very stormy ahead, especially for those with debt on their books
the Gnome