Blencowe Resources: Aspiring to become one of the largest graphite producers in the world. Watch the video here.
Thanks Cowichan
There is a big difference between aeromegnetic and electromagnetic surveys.
Magnetic measures magnetic properties.
Eletromagnetic measures conductivity properties.
Not the same.
However in an electromagnetic survey you do measure magnetic properties as well
thanks
the gnome
The degree would not be in political"science" - whatever that is. Political governance, required course, as would be common sense, commerce, law, ethics, how real economies work or fail etc.
CEY seem to do an excellent job in training their empoyees. It is in everyones best interest. For instance Universities in Egypt have alomost no practical geology taught in their degree courses. It is all theory. Some of the graduates dont even know how to use a compass.
Egypt is not alone and the old "education system" in many African countries produce graduates who lack practical knowldge (I have said this before) but in Africa it is worse than those int he developed countries. It creates enormous problems. Thye need to introduce Training Instiutes which train them how to use the knowlege they acquire in a practcal way.
CEY is acting as this training Instiute, and this needs to be recognised by the Egyptian Government. I think it is a government repsonsibility, but then thats a problem as Egypt has never had a mining Industry, and thus is devoid of Gexperienced practical Geologists to teach at such an Instiute. I have heard that there might be a new Training Instiute/Education College being formed...no details, but much needed.
So it goes nito the Govt Mining Administration, which is packed with people who have no Mning or Geological experience...and so on..and you know what flows from this ...impractical laws, the highest ground holding costs in the world and so on. This then discriminates gainst having vibrant Junior Companies...
regards
the Gnome
Thanks Bob
Yes, we have the vote to kick out one group of nutters and vote another group of nutters in, thats our lot these days in the democratic world. We have to be far better at attracting a better class of people to do the job, obviously.
Well the quick anwer to your question, is I dont favour or see as even slightly attractive any of the governments you mention. What about Egypt?
Regardless of this, I also do not see much attractive about the UK system which delivers up an array of buffoons of various flavours and ideologies, and I wont speak about the US.
I would far rather a proper system be put in place to have potential politicans go through a rigorous x-year education and training programs which teach them how the world works, how businesses actually work, and give them a decent understanding of ethics and morals (etc) Now wouldn't that be fun.
It is extraordinary how politicians (esp in the southern penal colony) can be elected, who have no significant education, no life skills, few morals, basically unemployable, serve with distinct incompetence, some even have relationships with Bikies whilst serving on the parliamentary law enforcement committee that was gathering material about outlaw motorcycle gangs in an inquiry into online drug trading?! and then retire on a handsome pension, free air travel etc. whilst consulting and being paid a fortune to lobby on behalf of any foreign powers and cronies wandering the streets. LOL
As commented previously the lunatics are playing a brilliant game, and if we dont watch out we will be wiped out.
Thank goodness for the younger generation, who will put all this right, and wonder constantly about what the older people (who will be locked up in Aged Care homes) were ever thinking about? Or even if they were thinking at all.
Back to my medicine, I might have taken an overdose with my porridge, in between rain showers down under.
cheers
the Gnome
That was a solid report by Centamin, and some very interesting comments on the exploration, in particular the airborne TEM surveys at Sukhari. My read was that they provided very insightful data, such that will may see more focus, and more results coming from exploration.
Lithium has run so hot, its a good thing to get out of, and gold has run so poorly (against logic), thats its a good thing to get into now!
I think with Centamin obviously turning a corner now, its a great time to reposition it in your portfolio! and I say that not calling for a small fee?
Not sure how the UK can go through so many PM's, so quickly, each being a few cents short on the dollar, not to mention Chancellors,
Kwasi Kwarteng
2022
Nadhim Zahawi
2022
Rishi Sunak
2020 to 2022
Sajid Javid
2019 to 2020
and now we see Boris being touted as being a front runner to be new PM...and certainly not by the people, matter of fact in the UK the vote of the people seems to count for nought? An odd state of affairs all round to see the least.
https://www.youtube.com/watch?v=qWMvFPoBuvg
best
the Gnome
The circus continues in the Colony to the south, or as some call it the 51st state of the USAThe Albanese government admits it needs to rein in the National Disability Insurance Scheme after revealing its cost will blow out by almost $9 billion over the next four years, putting further pressure on the already-ravaged federal budget.With the policy now among the top five demands on spending, despite being less than a decade old, next week’s budget will forecast its annual cost to surpass $50 billion by 2025-26. This is about $20 billion more than the Productivity Commission estimated in 2017 when the scheme became fully fledged...thats a ~70% blow out or blow UP. AND THERE IS NO END IN SIGHT IF WE ALL BE VERY HONEST.if it wasn't so serious, it would be hilarious.https://www.youtube.com/watch?v=Zl0aEz34A4oGo Goldthe Gnome
If you ever have experienced the bureacracy in West Africa, it is worse than the UK, but not as bad as France. I expect in the goodness of time, but in the meantime, it can cause some consternation, amongst those who have a well deifned sense of time. Time is a very woolly concept in West Africa, - think Dali's painting of a clock
the gnome
Thanks Cowichan
He has spoken before against MandA, as ths practice in the gold industry has been anything but growth, when measured properly.
But I was led to believe the organic pipeline was more than enough for Centamin.
But also, things do change. The gold sentiment has changed to negative (certainly not mine, and perhaps the CEO's?) In fact it is a great time to buy really well managed and positioned gold stocks, is my position. So I am on my own little MandA for gold stocks..LOL There are some very cheap quality gold stocks.
So perhaps the CEO's new statements reflect somewhat my own attitude to gold stocks, its a good time to do a bit of buying.
Yes, he had a lot to clean up and out, due to the Pardey debacle, and he is nearly there now.
So if he does his homework well, and picks the rights assets to acquire, then CEY cold do very well, and accelerate growth.
Thanks again, enjoy ythe freedom of the weekend. Still far too many in the world who cannot.
the Gnome
I suspect
Bank of America strategy guru Michael Hartnett says: “The inflation shock that caused a rates shock, which now threatens recession shock and credit event … reflects painful regime change, as bullish deflationary era of peace, globalisation, fiscal discipline, quantitative easing, zero rates, low taxes [and] inequality gives way to inflationary era of war, nationalism, fiscal panic, quantitative tightening, high rates, high taxes [and] inclusion.”
There’s clearly something very attractive – intellectually and, dare we say, morally – about the idea that what we are seeing now on global markets is the bill for 15 years of financial repression and excess coming due, and this is simply a return to a more “normal” world, where capital has cost and risk is actually priced.
The pain is not pleasant, but it is necessary.
But highly respected Macquarie strategist Viktor Shvets has a very different view.
He argues that such a “normalisation is neither probable nor perhaps even desirable” because economies are so indebted that to suddenly “starve the beast of liquidity with a determined but futile attempt to raise the cost of capital” would be to risk the sort of carnage that “usually involved a massive economic and social dislocation, and were preceded and/or followed by revolutions and wars”.
Well it does appear we are there now. How many wars, and what will gold do
the Iranian Revolution in 1978, the Iran-Iraq war in 1979, the Soviet Union’s invasion of Afghanistan in December 1979, and the Iranian hostage crisis in 1979. .....this period saw heightened activity in gold prices. Gold prices rose 23% in 1977, 37% in 1978, and an incredible 126% in 1979.
During the first Gulf War, when Iraq invaded Kuwait in 1990, gold prices soared again.
After September 11, 2001, attack on the United States, gold prices surged. This move was followed by the US invasion of Iraq in 2003. This also resulted in an uptrend in gold prices.
and so on
BUT this time it will be different (don't you like it ?). We have ludicrous levels of debt without doubt. How does the debt play out.
Gold will shine through
best
the gnome
Interesting theory. I follow the theory of "form". What has been the behaviour of various particpants over an extended period of time (decades). Watch what their feet do, and have done, not the rhetoric, nor the eloquent optionalities. Suggest you look at Chalmers Johnson work (he is not alone), been a bit going on, and it has been of a reasonably consistent nature.
Not to argue that it is impossible, but more probable. The whole affair from both sides is highly odious. I do feel for the poor people who get thrown into uniforms ,and go out and shoot or bomb each other, and who interrupt the lives of other poor people who just want to make the most of their lives in a constructive manner. For what? For who?
regards
If you would like to get some more believable insights into what is going in Europe and the pipelines etc, spend 10 minutes on the below
https://www.youtube.com/watch?v=ALb2FPXFro4
Also have listen to below after 30 minutes
https://www.youtube.com/watch?v=yIuN6v_cmNM
As always,do you on research, but there is a game in play which we have seen before.
Bottom line?
Argentina’s annual inflation rate in August was 71%, Haiti’s 25%; Goldman Sachs has predicted 23% for the UK by early 2023. Seventy-one million people worldwide fell into extreme poverty in the period of April through June of 2022. The World Bank has reported that up to 80 nations require immediate debt relief, or they will soon find themselves incapable of importing the food and fuel needed for their populations to survive.
Things have to change away from the present modus operandii of the present financial and warrior state system. Been going in too long, as as been pointed out very gracefully, some decades ago.
https://www.youtube.com/watch?v=sZwFm64_uXA
Wouldn't it be great to hve a fair and honest market for gold as well?
best
the Gnome
Another day and a quick reversal of well thought through policy, giving investors confidence in robust decision making by the Chancellor and the new PM, ...
and how are the banks going...instilling confidence
June 2022, "Handling bags of cash for a wrestler-turned-cocaine-trafficker is the kind of business you shouldn’t do as an international wealth manager. Credit Suisse Group AG’s criminal money-laundering conviction in Switzerland this week for exactly this is an embarrassment, though not a costly one with total penalties of little more than $20 million. "
Well what goes around comes around. Now Suisse are trying to instill confidence that they are well run? LOL
And in Deloittes we see another fiasco. Letting clients runtheir own audiot..LOL
Global accounting giant Deloitte has been fined $US20 million ($31 million) for asking audit clients to conduct their own audit work in a move the US corporate watchdog said fell “woefully short” (!!???) of professional requirements (OF ONE OF THE LARGEST ACCOUNTING FIRMS IN THE WORLD!).
The US Securities and Exchange Commission (SEC) found that auditors in Deloitte’s China arm asked clients to select samples of financial reports to be reviewed and to prepare audit documentation that falsely claimed the firm had obtained and assessed supporting evidence for certain accounting entries.
Well you could well question how solid and robust the banking and accounting system is.
The counter argument to some of this (not all) is hidden by the nature of the press. “Journalism by its very nature hides progress,” Pinker argued in a recent interview, “because it presents sudden events rather than gradual trends … the press is an availability machine. It includes the worst things to happen on Earth at any given time.” But, he adds, “human progress is an empirical fact.”
“If it bleeds, it leads,” is an old newsroom adage for good reasons.
So we just recognise the bias, and get on with life ...
The trend is your friend but what si the trend, when its soemtimes a little difficult to see through the endless negativity of the press..., and the even the mighty can be totally wrong in readingt he trends even when they spend a large pportion of their life analysing them-supposedly. “Cash is trash,” is how Dalio has summed up his view in interviews. But the US dollar has been one of the big winners of the past year. The DXY dollar index is up 18% year to date. Relative to the dollar, gold is down 10%, the Chinese yuan 13%, the euro 15%, the pound and the yen 20%, Bitcoin 60% and Ethereum 65%....
Whats the trend, whats the events ...?
Some would argue the trend in the USD has been up since 2008...but there have been soem serious deviations, and my bet is we will see another big deviation...
https://tradingeconomics.com/united-states/currency
best
the gnome
Its a v bad look. The left hand wasnt talking to the rights in the Parliament, and no one was talking to the markey, and ...
The new British government triggered a vicious sell-off in both the pound and UK government bonds, which are known as gilts, when it unveiled a surprise and unfunded tax cut, at a time when the Bank of England is hiking interest rates to subdue soaring inflation.
Treasurer Jim Chalmers is breaching the widely accepted principle that tax changes aren’t retrospective, and hitting investor confidence in the process. Alex Ellinghausen
Investors were dismayed to see UK fiscal and monetary policy obviously pulling in opposite directions. It pointed to a fundamental conflict and lack of consensus between UK politicians and the country’s key institutions. IT POINTED TO SOME REAL DOUBTS AS TO HOW FUNDAMENTAL POLICIES ARE CONSTRUCTED BY THE NEW GOVERNMENT. FIRST LOOKS CAN BE FATAL. Yoyu really dont need this sort fo thing happening in this sort of global environment.
best of luck
Gnome
Fairly predictable. Batter down me hearties in the UK,, this does look very ugly, and winter is looming!
The UK watchdogs responsible for the £1.5tn corner of the pensions sector that came close to imploding this week are holding daily talks with asset managers to stave off a fresh crisis when the Bank of England’s emergency bond buying ends.
The £65 billion ($113.7 billion) plan, which ends on October 14, was launched on Wednesday to safeguard the pensions sector after this week’s market turmoil sparked by chancellor Kwasi Kwarteng’s plans for unfunded tax cuts.
And more pain is coming, and where the money is coming from is still anyone's guess...?
Meanwhile in the U.S. policy makers aren’t likely to take action to slow the dollar’s rapid rise despite rising risks of global financial turmoil, analysts say, largely because a strong greenback helps fight domestic inflation.
The U.S. dollar has soared in value as the Federal Reserve raises interest rates to fight the highest U.S. inflation in decades and investors move money into dollar-denominated assets. The WSJ Dollar Index, which measures the dollar against a basket of other currencies, is up roughly 16% so far this year.
The dollar’s strengthening relative to other currencies puts pressure on many other countries around the world, boosting the costs of imports priced in dollars and servicing dollar-denominated debts. This is particularly difficult for many developing economies that struggle with large debts and import much of their fuels, food and other commodities.
Wealthier economies face troubles, too, as their import costs rise. Japan, the world’s third-largest economy, recently intervened in currency markets to support the yen.
Treasury Secretary Janet Yellen says the U.S. supports market-determined exchange rates, adding that the strength of the dollar is largely the product of the Fed’s policies and subsequent capital inflows to the U.S. So FU all?
CEY is not a bad place to invest
best
the gnome
ROBERT M. FRIEDLAND of Ivanhoe Mines, Ivanhoe Electric (Africa: Kamoa-Kakula copper-project; Platreef in South Africa), filled a large Colorado Springs main hall for his 45-minute luncheon ‘show.’
“Mining is not a business for intelligent people,” the CEO said.
Quotables here:
“The Fed can’t do anything about the Balkanized supply chain,” Robert Friedland said just now.
“If you really want to find copper you have to go to the Western Forelands (DRC Congo — Makoko project).”
“The computers think we are (just) a copper company.” Pointing to zinc at DRC’s Kipushi and to Platreef’s gold-nickel-platinum-etc. metals project in Republic of South Africa.
“Without grid-scale batteries there will be no green revolution.” (See Ivanhoe Electric below.)
“Very few people can even define what energy is.”
“Renewal energy is absurdly metals intensive.”
“We need to mine in the next 23 years all of the copper we have mined in human history.”
“That’s why (they) should add ‘copper’ to the name (of this conference) next year.’
The amount of misinformation in the media, has never been higher ...
the gnome
Bristow in response to a question said he hopes to increase Barrick’s exposure to Australia and to Canada.
CEO Bristow singled out a World Gold Council effort to create handheld buttons that allow individuals to purchase certified, physical gold with the help of the Internet. WGC calls it the 24-7 Gold initiative. “We like the other gold miners are working closely with WGC on this initiative,” he said.
Thanks Damo
Greatland is a great story of discovery. A friend of mine , Jim Hanneson, was intimately involved in this and that story has been finally told, and you can read it at this link
Discovery of the Havieron Gold-Copper deposit, WA
https://www.tandfonline.com/doi/pdf/10.1080/14432471.2022.2103941
Nice to have copper and gold at the right grades, and enough of it...plus a needy partner
Alien look like they should focus a bit more.
best
the Gnome
THE POWER OF THE INTERNET? Incredibly powerful today, more than when I was a young gun [living in a 3,000 person town in rural Australia], that one can access intelligent life forms on the internet. Of course there are plenty of the other people around as well.
Some very big discussions In and about Oz, not making it into the main stream mass hysteria,
China debate: John Mearsheimer | Hugh White | Tom Switzer
For years, Australian policymakers have balanced China’s desire for an enhanced regional role (whatever this is, but it might be that China has a large population, that devours [our] natural resources, or produces more engineers in a year than there have been engineers in the history of Australia or whatever) with our desire for U.S. protection (this generally means buying nucelar submarines, f99 air fighters etc). However, contrary to the Canberra consensus, there is going to be an intense strategic rivalry between our major trading partner and our major strategic ally.
According to John Mearsheimer, one of America’s leading foreign-policy thinkers, Washington will not let China become the dominant military power in the region without putting up a serious fight (and of course where there is a fight there will be US products and services and a buck to be made, but lets move on and sweep $10's billions under the fog of threats, real and made up)). In these circumstances, it’s naïve to think that Australia can sit on the sidelines and get the best of both worlds: unconstrained trade with China while keeping the U.S. security umbrella over its head. Canberra must support Uncle Sam. And why not ...?
However, Australia’s future will be dominated by China, says one of Australia’s leading strategic thinkers Hugh White..we have been there for a long while now. Treasury forecasts show that the Chinese economy will be about 80 per cent bigger than America’s within a dozen years...and so the sun is setting, giving out its last flashes of whatever. In this environment, Canberra must prepare for the new strategic terrain in the wake of America’s declining (declined) leadership, and we would be unwise to support Washington in a confrontation with China that America probably cannot win...but of course we will do whatever America wants ...
Have a listen, think critically, and form your own opinion (s)
https://www.youtube.com/watch?v=oRlt1vbnXhQ
And lets not mention Russia again, at least for a few days
best
the gnome
Thanks Damo
I read from a very wide range of sources, including funadmental data sources
https://www.gold.org/goldhub/data/gold-reserves-by-country
https://data.worldbank.org/indicator/FI.RES.TOTL.CD?locations=US
https://www.usgs.gov/faqs/how-much-gold-has-been-found-world
https://www.federalreserve.gov/data/intlsumm/current.htm
There are interesting professional papers, written pre-1970 (ruff estimate), when they were worth something, and not biased towards non professional ends
https://www.jstor.org/stable/1914508
https://fraser.stlouisfed.org/files/docs/publications/FRB/pages/1945-1949/30033_1945-1949.pdf
and others
https://www.newyorkfed.org/data-and-statistics
A few things to keep in the back of your mind
IMF economist Prakash Loungani : “The record of failure to predict recessions is virtually unblemished.”
...
Galloway asked: “Has there been another point in economic history where we’ve had full employment, an inverted yield curve and interest rates rising this fast?”
Tyler Cowen (Economist) responded: “I have never seen this configuration of economic numbers and variables in economic history, ever. It is unique and I think we are poorly positioned to make very dogmatic predictions for that reason… So I think we are flying blind and hoping for the best.”
Interesting little piece, that provides the expose on the dilemna.
https://www.imf.org/external/np/exr/center/mm/eng/sc_sub_3.htm
The Central Banks adopted the position of being able to print as much currency (IOU's) as possible, so they can do what currency is meant to do. Circulate and be a means of efficient and effective exchange to allow businesses to operate.
This leads into confusion of currency and assets. Currency is not an asset, but rather a depreciating "efficiency" for transactions. Simply perhaps the best they could do at the time. BUt we have the internet now, and a lot of business has moved into the internet. The most successful is Alibaba, not surprisingly Chinese. It is an interesting business model, v different from those much lauded US business models. Personally I think it is a far more sustainable business model. And there is blockchain...
I suspect something far more efficeint in terms of financial structure and efficiencies are being constructed in China. You have to dig to find these out, as best not to shine too brightly(until it is time). The US is v concerned about the strength of China, and of course you will see endless rhetoric negative to China. Human rights etc...speaking fo which the uS should not attempt the high ground?
best
the gnome