Member Info for goldgnome

Yes the Zim story is a very interesting story which I have followed very closely, and sometimes too closely. It is a tragic reminder of the failure of democracy, the failure of the Kimberley process [diamonds], the failure of intelligent people to build a sustainable future in a land of abundant natural resources. It is the tragedy of what happens when trust walks out the door of a nation, and ideology and empty rhetoric walks in.

The gold coin? Great if the value of the gold is the content of the gold, but what is the "arbitrage" on the difference between the value of the contained gold, and the value of the coin which it is contained in (recall the debasement of currency at the back end of the Roman Empire some 2000 years ago!). Who measures the content of the gold, when trust in the government has departed? Who certifies the content. Really it is the lurch of a government who ...knows not what they are doing. The smart Zim which are a large part of the population smell a rat...or at least the room for a rat to nibble at the their assets.

Governments and agencies in so many nations, at all levels are falling over themselves to talk the language of inclusiveness and openness to community feedback and rising expectations of government service {I picked up a new sticker it read...."AM I INTERUPTING ANYTHING IMPORTANT?...IMPOSSIBLE I WORK FOR THE GOVERNMENT"]. Trust and transparency are supposedly the new currency to gain community acceptance, but unfortunately as noted above, trust in the governments walked out the door a few decades ago.

Make sure you convert your paper promises into real assets, and bunker down. It will probably be a cold winter for many

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the gnome

So the printing presses turn, money appears out of trust, but trust has left, but ... the printing presses still turn. Like a boxer who has been hit onto the ropes too long, too many fights, which he has lost most, but won enough to keep him coming back. He doesnt know what new to do, nothing esle in the kit, so he goes into the ring, to repeat his folly, and lose again.

DrJ
"attention seeking de-ramper." ... seems to be like a wildtiger with time on his hands LOL
there are more serious matters to discuss, to state the obvious.
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the gnome

I think it is interesting they are getting high grade quartz veins (more of?) than they were probably expecting? If these quartz veins are subvertical there is a high chance they did not know much about them if the resource drilling was subvertical.

potentially could be very nice
the gnome

Couldn't agree more Cowichan!

For those with an interest in how things happen, 4 parts, well worth the look
https://www.youtube.com/watch?v=ZLIV0Zb5lfM

we do such an incredible job of forgetting the key learnings from the past, and chase wildtigers promising wilder returns with no downside, plus a tub of snakeoil to boot. Go tiger!.

Here is another I came across, (remember VW?)

the history of catalytic converters reveals another side of Detroit [ or just a deeper darker side]. The industry refined the technology only after Congress imposed strict limits and deadlines and foreign car makers threatened to develop cleaner engines. It lobbied forcefully against passage of the standards in 1970, calling them unobtainable, disastrously expensive and environmentally unnecessary. It pressed its case right up to the date of installing the first catalytic converters, and even after the devices put millions of cars into compliance, it fought to have the standards relaxed for cars and not extended to trucks...cars smoking, people smoking, similar?

The movie about it ...
https://www.latimes.com/entertainment-arts/movies/story/2021-06-30/no-sudden-move-review-soderbergh-don-cheadle-benicio-del-toro

enjoy the weekend. I will !
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the gnome

Martin certainly did a good job at selling bag of fruit to Resolute Mining, for a great gain to Toro shareholders (and some pain to Resolute shareholders). It does suggest, that he is good at sales, and very good at selling mines for a good price. It infers that IF there is a sale of CEY it would have to be at a good price, which is the narrative he is building now. It is taking more than 6 days, but this is because he is a mere mortal.

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the gnome

The European Central Bank raised interest rates by a larger-than-expected half-percentage point (PREVIOUSLY THEY SAID NO INTEREST RATE RISES TO 2024?) and unveiled a new plan to buy [WHERE DOES THE ONEY COME FROM AGAIN?] the debt of Europe’s most vulnerable economies, seeking to protect the currency union as it navigates the twin threats of skyrocketing inflation and slowing economic growth.

The move takes the ECB’s key interest rate to zero, ending the bloc’s eight-year experiment [??!!] with negative interest rates and capping two weeks of drama for Europe, which saw Russia cut and then restart the supply of vital natural gas, along with the collapse of Italy’s government.
On Thursday, she said the bank expected inflation to remain high [BEFORE THEY SAID INFLATION WAS ONLY TEMPORARY ??!!] for some time, partly due to the euro’s falling exchange rate against the dollar, which raises import prices.

One could believe, as I once did, that the bankers know what they are doing. But really , its all an experiment. and you know who the guinea pigs are?

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the gnome

Hi PaulM

The way companies grow and some do not is very interesting. Predicatble, Simply, those that fail, are those where the founders and families and friends hang on, to way past their competency level. Think of any?

The ones that succeed, have dynamic and constructive and empowering succession processes.

CEY has a great ore system (composed of may orebodies and mines, several I have no doubt have not been found yet), but the company has been subject to "founders avarice". It is out of these "avarice" woods, now, and a bright fuure is looming. A bump here and there is normality, but look out for the fundamentals. These are in the ground, and it is a magnificent ore system. Tier 1 !

the gnome

Really, ... Dear Elon?

There is more meaning and substance in the world, than deifying a nutter, even if he has a cute dance move, a dimple and a sweet side step?

Dont get caught up in the stupidity of the US cult movement. Rumour is they follow any thing, including red herrings, dutch tulips and alike. Even NY cheese cakes.

the gnome
Good luck and good night from the wild colonies to the south

Talking about 1500's. Could talk about 200's as well. Mindless rubbish

Better things to do with ones life. Fishing. Golf, Birds, double malt?

Rebess

I have been around for a "while". Brief high level notes

1. In the "while", I have accumulated some very decent dividends from CEY, which has alleviated SOME of the pain (I have also some losses in industrials etc, but thats off topic)
2. I have not been a CEY seller, and as such, yes, the SP goes up and it goes down, and yes, the Gold Price goes up and goes down, and I have the odd spasm, but no pain as I do not sell. As such one can pontificate, or cry or both, or sell and celebrate. I have no pain, but watch carefully. I do look with some amusement on those who offer opinions on a shorter time frame, or on the bais of $/word of advice or $/transaction of shares, and these are not in short supply, but tend to dominate the sort term investors. For me nothing but sad amusement, provided by people who I am sure who could do better with their life, but possibly are too lazy or stupid or both.
3. The figures that I watch and invest in composes a few aspects
a. the life of present (Sukari) mine, and this represents my maximum life of investment, and sets a view on my "probably" investment period. I susect gold mining at Sukari and surround will be going on for 50 years or more (but this is a guestimate of course, be it educated, highly educated, experienced or whatever)
b. the extension of present mine, and the abilities to extend. Have they got smart technologies, smart people, both or whatever.
c. Organic expansion capacity forseeable. Doropo, Egypt broad, ABC etc, This is not a bad portfolio (10m ozs?), and it is being worked systematically rather than sensationally (as is the plight of some companies). Hope they get rapid gold assay capabiltity VERY SOON, to guide them, and hope they do not embroil in the Chrysos offerings. It is very possble now for a CAPEX of $100k or a lot less! See DetecteORE? Groping in the dark is a very unconvincing exploration strategy.

I am not stressed, as I am not a day trader (as noted previously) as I have not the spare hours in the day to dedicate to the nonsense of the vibrations of the market. And believe me the nonsense of recent is significant and is not representative of true value, but of rank stupidity and mindlessness (think Lemmings or politicians or economists?))

Relaxed comfortable,

the gnome

Rebess

Are you perceiving a change in the company, and implying a change in the fortunes of the company, and furthermore a change in fortunes of investors?

If the Gold price goes north and it will, it might be "velly interesting times" for investors?

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the gnome

As inflation grows around the world the US dollar enjoying multi-decade highs. To an extent, that’s helping mitigate the impact of inflation in the US by dampening the rising cost of imports. Most other places, though, are seeing the opposite happen. The rising dollar devalues local currencies making imports, including energy, more expensive, adding to inflation. This week Phil Dobbie talks to Prof Steve Keen about the impacts of exchange rates on international trade and how nations could be starting to challenge the US dominance in currency markets. As Pola, a Debunking Economics Podcast listener asks, what happens as BRICs nations (Brazil, Russia, India, China) move to payments in their own currencies instead of using the US dollar? Beyond that, what if they develop their own trading currency, similar to the Bancor proposed by Keynes back in the 1940s.
https://www.podbean.com/site/EpisodeDownload/PB127B52AM4AGN

Thanks Tornadotony,

I think the thing that is overvalued now is the USD, and history says you can bank on this devaluing over the coming years. For start it is not in the US interest for this to happen/stay this way. Another fall out of the irrational behaviour of its Reserve Bank (and of course the other reserve banks mostly just follow). The performance of Australias Reserve Bank has been so bad it is now under Independent review, which should have happened a decad e or 2 again. https://www.afr.com/policy/economy/independent-review-for-rba-as-chalmers-overrules-lowe-20220617-p5aum1

Full of political appointees, economists etc...

Goldman Sachs has now hired our ex Financie Minister, who has just retired on full parliamentary pension? Snouts in the trough, conflict of interest etc etc.

amazing goings on, and its all above board, LOL

the gnome

NOmad
If you think drilling 100,000 meters, getting assays back after qa/qc (think 3-4 months), compiling, intergarting with geology, converting to a indicated resource and THEN feeding this forward into a FS is over quickly, think again.

Regardess, the timelines communicated are very clear, and reasonable cosnidering the variables in play.

•"West Africa. Work is continuing towards the delivery of the Doropo pre-feasibility study ("PFS") by the end of the
year. The field programme has seen the completion of more than 100,000 metres of drilling which is expected to
convert the majority of the Inferred Resource to the Indicated Resource category and support the completion of
the PFS by the end of Q4 2022."

the gnome

No one has a clue unless you name a time period. 1 hour, 1 day, 1 week, 1 month, 1 year

The answer depends on the time period.

Nor a bad quarter for CEY. Solid. Mving towards being predictable.

A lot of other businesses are not even close. BlackRock is breaking the wrong records with $US1.7 trillion loss

BlackRock is used to breaking records. The world’s largest asset manager was the first firm to break through $US10 trillion of assets under management. But the bigger they are, the harder they fall. And this year BlackRock chalked up another record: the largest amount of money lost by a single firm over a six-month period. In the first half of this year, it lost $US1.7 trillion of clients’ money.

Well, well, the money gurus had a bad 6 months at the office.

The top major Super fund in Oz about 4 % net of fees and other small costs, over last 12 months

good luck to all, and go gold, and CEY

if i twitched for every twitch of the gold price, I would be a nervous wreck and ... waste my life

i have sime fish waiting for me to catch them ...

good luck

the gnome

deepjoy,

My bet is the US$ will weaken, if not appreciably.

Free money has been very expensive to all, and just how expensive and to who is still being studied.

The roots of poverty are complex, but the study isn’t a one-off in documenting a link between transfer payments and worse outcomes. A 2018 study in the Journal of the American Medical Association examined the diet quality of food-stamp beneficiaries from 2003 to 2014, a period in which average benefits increased more than 50%. Similar low-income people who didn’t get food stamps ate more healthily than those who did. The non-food-stamp group consumed significantly fewer sugar-sweetened beverages, and their diets improved more over time.

Transfer payments ballooned during the pandemic as Democrats argued that they were needed to prevent millions of Americans from falling into poverty. Republicans in Congress put up little resistance, at least while Donald Trump was president. Congress spent a total of $800 billion merely on stimulus checks during the pandemic.

The handouts induced people to spend more and also reduced the incentive to work, which fanned inflation. Now there’s evidence that the payments could have reduced personal well-being as well. A tome could be written on all of the government mistakes during the pandemic.

One lesson for Congress seems clear: Never again send out cash with no strings attached.

MEANWHILE: Many U.S.-based tourists are spending on luxury goods, fine wines and high-end accommodations. Others say they are planning additional return trips overseas to take advantage of the potential savings. Traveling to Europe also offers Americans a brief respite from the impact of rising inflation, since the dollar’s strength has helped to offset some of the higher costs in Europe.

Who benefits, and for how long .... it will not stay this way forever!

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the gnome

Ah ha, so Barrick really is taking over Centamin. Cunning b@ggers