Member Info for goldgnome

Answer: “Due to the impact of increasing cost pressures, tightening terms of creditor payments, the impact of COVID-19 on staff availability, project ramp up issues and worldwide shipping constraints there is insufficient working capital to bridge the project to complete the development of the reset mine plan.”

Voluntary administrators claimed their client pursued different options to resolve the “cash flow shortfall”. However, they failed to secure financial accommodation from creditors and shareholders.

Cost structures in West Oz are influenced by those of the mighty Iron Ore Mines, which have so much margin that even wokist BHP and Riotinto cannot stuff them up

the gnome

1947 : "FREEDOM of speech and its democratic corollary, a free press, have
tacitly expanded our Bill of Rights to
include the right of persuasion. This
development was an inevitable result
of the expansion of the media of free
speech and persuasion, denned in other
articles in this volume. All these media
provide open doors to the public mind.
Any one of us through these media may
influence the attitudes and actions of
our fellow citizens.
The tremendous expansion of communications in the United States has
given this Nation the world's most penetrating and effective apparatus for the
transmission of ideas. Every resident
is constantly exposed to the impact of
our vast network of communications
which reach every corner of the country, no matter how remote or isolated.
Words hammer continually at the eyes
and ears of America. The United States
has become a small room in which a
single whisper is magnified thousands
of times.
Knowledge of how to use this enormous amplifying system becomes a
matter of primary concern to those who
are interested in socially constructive
action."

comprehend? game, set and match....

I forgot to mention Bernays was an Austrian who was very close to Germany,

Long before 1984, there was 1947, and worth a read over the breakfast table
http://www.fraw.org.uk/data/politics/bernays_1947.pdf

best

the gnome

Yes, well said, and of course we know what happened to Goebbels. But it did not happen that way in the USA for there is another game to play, and they neatly rebadged it as ...MARKETING AND PUBLIC RELATIONS and made a mocha or a trillion. LOL, and polluted the world with tobacco, sugar, coffee etc etc ...

The fabulous "theoreticist" Edward Bernays reigned supreme, and got women to buy slim ciagrettes which made them look slim and get slimmer, and apart from that they died decades younger thean they would have...with a smile on their faces...LOL
Edward Louis Bernays (/b??r'ne?z/ bur-NAYZ, German: [b??'na?s]; November 22, 1891 - March 9, 1995) was an American theorist, considered a pioneer in the field of public relations and propaganda, and referred to in his obituary as "the father of public relations".
https://en.wikipedia.org/wiki/Edward_Bernays
Profoundly stupid (especially for an intellient race), but then one nust keep the lemmings happy ...

https://en.wikipedia.org/wiki/History_of_propaganda

the gnome

One of the "events" in the last few years that has caught my attention has been the absolute hysteria and hyperbole about the covid virus, and it has been at such pandemic levels that a person well grounded and driven by science and logic would be driven to despair.

In Australia (and elsewhere) our democratically elected pollies have delegated running the health of the country to the health bureaucrats who are not uptodate health scienstists, but one might think of them as well meaning bottom coverers.
https://www.spectator.com.au/2022/07/dont-blame-the-unvaccinated/

Prof Ramesh Thakur is a health scientist, with an enviable record in health science, and is one of many scientists who are calling to case, the "management" of the covid health pandemic. In Oz, the power elites have forgot we are an island at the bus stop at the end of the world, and proclaimed THEIR profund skills at managment is nothing short of divine.

In short "...the number who died with Covid after we hit 50% vaccination is 2.3 times higher than the number before that point" What happened and why?

Deborah Birx was the White House Covid response coordinator under President Donald Trump. Jeffrey Tucker recently wrote a brutal takedown of her woeful interpretation of science and data designed to manipulate Trump into going along with her preferred but misguided policy interventions to deal with the Covid outbreak.

In an ABC podcast on December 15, 2020, she said:

‘I understand the safety of the vaccine … I understand the depth of the efficacy of this vaccine. This is one of the most highly-effective vaccines we have in our infectious disease arsenal’.

Appearing on Fox News on July 22, however, she claimed:

‘I knew these vaccines were not going to protect against infection. And I think we overplayed the vaccines. And it made people then worry that it’s not going to protect against severe disease and hospitalisation’.

This might help to explain why there has been such a concerning collapse of public confidence in leading health institutions and ‘authorities’.

The collapse in public confidence is more than just in health. It is in politics, it is in banks and currencies and so and so forth. Thank goodness for the stability of GOLD !!!

I would suggest we could do a lot better, and of course, in Gold we trust...

the gnome.

I am interested in China and their development and it has been very rapid over the last 25 years, where as the reigning emperors (US) has been a little “up and down”, and is heading towards self destruction. Russian invasion? Lets ort out Latin America ..again ... One could say ..slightly flawed.

Why does China love gold?

1. China graduates 1.5 million engineers per year, which is a bit more than Australia’s 10,000 per year. They value education, science, engineering and rigour. Oz values football, meat pies, beer and rum? Goodness knows what the US values apart from a good shoot out at the OK Corral? And the UK??? Sadly LOL

2. China has had a long love affair with gold as a store of wealth, ad China has a memory longer than the Gold Fish, and many people today on Tick Tok, Facebook and alike.

3. The outstanding candidate for a true international currency, is through the block chain technology (DeFi or decentralised finance), which overcomes many (not all) of the inefficiencies and opaqueness and controls on the USD. The trouble with DeFi is their asset backing, and guess what pops up. Gold!!!! The US$ has well and truly lost its social license to operate.

4. Banks have similarly lost their social license to operate, and there are many more law cases to come to the fore!!! Market manipulation, compliance failure etc etc … not to mention paying their CEO’s outrageous salaries and remuneration when they are not in a fully competitive market.

So (to walk the plank) I am looking for Chinese led DeFi International currency, backed by gold, to replace the immaculate privilege of the US$, and a better world to boot! And my guess is the world will be a better place,

and THE GOLD PRICE WILL RISE ...

have a great weekend, not too much double malt (despite the taxes going up)

the gold gnome

China stepped up its gold imports from Switzerland in July, purchasing the most bullion in more than five years, according to the Swiss Federal Customs Administration.

CHINA IS THE BIGGEST GOLD PRODUCER AND IT DOES NOT SELL ITS GOLD...BUT IT DOES AHAVE A GOOD APETITE FOR MORE, A LOT MORE ...

Demand from China is starting to pick up over the summer months, with Switzerland shipping 80.1 tonnes of gold to China, worth $4.6 billion.

This is a monthly increase of 146% and the biggest cargo since December 2016, Swiss customs data showed Thursday

Hi Sotolo

When you say gold is going down in price, you imply the value of the USD (or other fiats) is going up. Lets look at the reason for this expectation, epecially when the history of the USD is ... it goes consistently down over time. And in more recent times you have seen rather startling phenomena

1. More Money has been created out of less thin air than every before
2. More debt has been piled on than ever before
3. Interest rates have been the lowest for longer than ever before, creating a bubble bath, but still the interest rates were kept lowest for longest.
4. The trust in the Fed Reserve and Central Bankers is near its lowest: so low in Australia that we have a government review LOL https://ministers.treasury.gov.au/ministers/jim-chalmers-2022/media-releases/review-reserve-bank
5. Trust in governments is at close to a all time low. We have the Trump bumping along, Biden biding his time: Geoffrey Robertson remarked in his show last night in Oz, that it was good week in UK politics as Boris had not got anyone pregnant in the last week at a staff function, and the Australian past PM had not remembered anymore portfolios he had given himself ministerial powers in (not to mention the extraordinary secrecy surrounding the whole exercise) (the count is 5 at the moment LOL)?
https://www.abc.net.au/news/2022-08-18/scott-morrison-secret-ministerial-roles-lack-trust-extraordinary/101343202
6. Leadership in the police force seems to be grinding down to new lows, with more guns blazing in the USA and shots tot he feet in Oz. The Queensland Deputy Commissioner referred to a friend of his as a "vagina whisperer" during a speech to 100 staff members at a conference in Brisbane in April, now been outed and has resigned.

So be interested in your reasoning.

I am staying the course with gold and a few gold miners. There are a few gold miners that are definitely on my avoid list though, and CEY is not one of them

best
the gnome

Brokers are one of the key interefaces between investors and the company. If they are doing their job right (and the company is doing their job right), then they should add value to the share price and volume to the amount of trades per day. To get the volume they need to have many brokers/offices and people who are opinion makers, thought leaders, well respected( by performance on their recomendations). How much do they cost? Depends on the fee structure negotiated. There is generally an upfront or engagement fee, which is a nominal charge to get to know the company, and then some monthly charge based on sales performance, share performance (%SP gain, volatitility, volume)...devil in the detail here, and I dont know what they have negotiated. Be stupid if it was not heavily weighted to SP performance.
The best corporate defense to MandA is a strong share price, and the best outcome for investors is a strong share price. Lets hope the contract is reflected in the SP; then its a great move !

best
the gnome

Thanks Mr T,

Thats a great interview, on youtube, and some fabulous idea,s some of which have been abused, and will continue to be, c'est la vie!

My take is that the web does more good than bad, but is capable of infinitely more good than bad, and could even stop the lemmings jumping off of the cliff?

best
the gold gnome

Interesting to see the steady acquisition of gold by the Central Banks.https://www.gold.org/goldhub/data/gold-reserves-by-country

About 77.6 tonnes bought by the C Banks and about 4.43 tonnes sold....

Interesting talk on deFi, which is going to come in regardless of the stupidity shown by the Pollies and the Bankers, Just makes far too much sense, and far more advantages than disadvantages

https://www.youtube.com/watch?v=WiNHpD0rRn8

Yes, well the big move inthe US is the privitisation of water! an amazing feat of nonsense. The next move will be the privatisation of the air we breath LOL.

Our govt in Australia is so ridiculous, it beggars belief. The previous Prime Minister has just been outed as having helped himself to being a "shadow" minister of several portfolios during the pandemic, without telling the Minister holding the portfolios!?! Really making Yes Minister seem a bit pale.

"An apologetic Scott Morrison (previous PM) has conceded his secret acquisition of five ministerial portfolios was “unnecessary” (?!!) as he faced calls from colleagues for his resignation, and the Albanese government threatened an inquiry to hold to account all who knew of the scandal.

Former treasurer 9THE TREASURER LOL?!!)Josh Frydenberg was understood to be livid after only learning on Tuesday (last week!!??) that his portfolio was one of the five that Mr Morrison secretly assumed."

Q: WHATEVER WAS THE PRIME MINISTER THINKING OF?
A: HE WAS INCAPABLE OF THINKING?

We dont need comedy on the tube, as we have an overdose in our Parliaments ... and when they exhaust themselves, they go into the sunset on a pension and get a job working for the corporates as lobbyists.

the gnome

MAJOR REVELATION: Oil Prices Drop on Worries About China Demand. And China demand is down as the savants have predcited, say what. LOL

NEXT: The FTC, under Chairwoman Lina Khan, is questioning mergers that were likely to have gone unchallenged in years past, drawing complaints from dealmakers who say the agency’s scrutiny is excessive. SCRUTINY. when? LOL

Really the US model is corrupt and bankrupt. Don't get caught when the music stops. And it will. Only so uch hot air one can blow.

the Gnome.

Mr. Smith was a rapid-fire trader who used his mouse to manually enter and cancel orders so fast that colleagues joked he needed to put ice on his fingers to cool them down, according to trial testimony. Mr. Smith spoofed “all the time,” according to Christian Trunz, a former junior trader who pleaded guilty in 2019 and testified that he learned the tactic by looking over Mr. Smith’s shoulder...and so on and so forth LOL

The DOJ’s fraud section, which tried the case, won convictions in two prior spoofing trials in Chicago, where the futures exchange operated by CME Group Inc. is based. Former gold and silver traders at Deutsche Bank AG and Bank of America Corp. were convicted of spoofing-related crimes in 2020 and 2021, respectively.

In the Deutsche Bank case, the defendants were sentenced to serve one year and a day in prison. The former Bank of America traders haven’t been sentenced. Messrs. Smith and Nowak will be sentenced at a future date.

Would you trust a financial and legal structure that allowed such behaviour...or at best, gave them a little smack....

Fine : Profits +losses +50%
Jail Term: 5 x period of bad beahviour

completely riiculous, and yet it happens again and again..and why is it "allowed" Who benefits ?

the gnome

Much better to listen to the wind.

regards
Gold Gnome

The $40m paid for 4 m ozs resource (they never bothered to update the resource to my knowledge is about $10/ozs which is basically a very good grass roots discovery cost.

To be very clear they bought the Batie West Permits AND the Doropo permits. Doropo stands at about 5 m ozs, and probably will grow

So the $40m investment has given them access to the ground which contains at least 9 m ozs, which is not too bad.

I have not seen anything that would pass for a DFS on Batie, and the mina questions were

1. the high stripping ratio
2 the refractory nature which required a fine grind to acheive gold liberation (sub 10 micron). What I dont know is how many samples and what volume of earth was used to decide the entire volume of the ore was all refractory?? Or how was the Geomet model constructed? and/or How many Geo met samples were actually measured. The Batie affair smells sub -standard professionalism, at least in disclosure to their share holders.

best
the gnome

SteveJ
What would the world's news be without hyperbole and hysteria? Who would bother to read it?
the gnome

Listening to some of the banter from Diggers and Dealers, there are few take homes....Would you trust the same people who put the world in this ridiculous situation to now clear it up and manage the mess they created? There is a good logical argument to suggest an emphatic no?

Given that trust in the Fed who "manages" the US dollar is really the onlying source of value in the US dollar, would one suspect the US$ is overvalued. Simply would you trust the Fed?

Given the Feds behaviour over the last 50 or so years has been to devalue the US$, what is the future price of the uS$ going to be? How much if any US$ would be in your long term investment portfolio?

Strange times, but my bet is that the gold price will be a lot higher in the next 12- years. How high?

best
the gnome

Spoon..
Independent and balanced discussion on anything these days? tough call...! In Australia, arguaby US's most subservient and silliest ally, our government is provoking one of our largest customers and trading partners, that has greatly helped us through the pandemic... LOL> After fiasco's in Vietnam and Iraq (etc), following the leader of the free world, out we go again. With our 3 torpedo boats, a couple of subs, and a few planes.... Dependable? Intelligent?? Balanced and in Australia's best interests???
The Australian government is now sending the wrong message to the Asia-Pacific region by selectively criticising China’s live-fire military exercises around Taiwan, while saying nothing about US Speaker of the House of Representatives Nancy Pelsoi’s visit to Taiwan that provoked China’s response.

The message the government is sending is that Australia’s subservience to US strategic objectives trumps its declared interest in having, in the words of Foreign Minister Penny Wong in a 5 August media release, “a region at peace and not in conflict”.

Nancy Pelosi’s visit to Taiwan was an intentional provocation of China, as even the Biden White House and the Pentagon acknowledged beforehand by advising her not to go.

China does not accept Biden was genuine in his opposition to the trip, however, as Pelosi’s provocation was consistent with US policy that China sees as saying one thing but doing another: on the one hand affirming the One China policy, while on the other hand elevating US-Taiwan relations, arming Taiwan, and supporting Taiwan’s independence movement.

If the Australian government were genuine about maintaining peace in the region, and believed Biden was genuine, Prime Minister Anthony Albanese and Foreign Minister Wong should have issued a statement in support of Biden’s opposition to the visit, emphasising Australia’s preference that Pelosi not go to Taiwan.

As the USA’s most loyal ally, such a statement by Australia would have carried serious weight in the US Congress and been very hard for Pelosi to ignore, and could have helped to avert this current escalation of tensions.

Instead, both PM Albanese and Senator Wong refused to comment on Pelosi’s trip.

“I make no comment about the US Speaker’s decision to visit there”, Albanese said on 5 August. “That really is a matter for them.”

Senator Wong “Obviously the level of US engagement with their Taiwanese counterparts is a matter for them.”

By contrast, Senator Wong: “Australia is deeply concerned about the launch of ballistic missiles by China into waters around Taiwan’s coastline. These exercises are disproportionate and destabilising.” She does not seem to realise how disproportionate and destabilising the Australian Governments views appear to be?

Difficult to keep a straight face when reading the news ... whatever are they thinking of? Thinking ???
At it again...

best
the gnome

Balanced discussion on the Ukraine..7 years ago...
https://www.youtube.com/watch?v=-pUj3Vqptx8