Roundtable Discussion; The Future of Mineral Sands. Watch the video here.
EIP/Rebess,
I don't post much but still read every post on here. My big picture view of CEY hasn't changed. What we really need is for gold to decisively break the $1350-1$360 level and then miners will see another big move up.....
Shares magazine have given CEY a good write up this week, saying the stock is “under the market’s radar”. Says the market reaction to the Doropo update was modest but this could be a strategically important asset to CEY, who are increasingly confident they can produce over 2m oz. A second mine would diversify revenues and geographically. They believe the cherry on top is a potential takeover (personally I’m not so sure on this). Sukari is a world class asset that’s gone through a bad patch and the Cote’ d’Ivoire assets will increase appeal to other companies. The Numis analyst says with no blocking major shareholders and the gold sector undergoing a phase of consolidation, CEY is one of the more likely targets for one of the majors.
Most of us know the long term potential of CEY, so the price today, next week or next month is no interest to me. They have no debt, c$300m of cash to pay dividends and fund building another mine. It will take time, but I can envisage CEY producing c200k oz pa from Doropo (if they go ahead) which will push them closer to total production of 1m oz pa. The beauty is that this can all be self funded, with no debt. Despite the production issues last year, imo CEY are a class apart compared to the majors that have had major write downs.
Correct link!
https://moneyweek.com/499249/how-much-gold-does-china-have-a-lot-more-than-you-think/
Correct link!
https://moneyweek.com/499249/how-much-gold-does-china-have-a-lot-more-than-you-think/
Chinese gold holdings will cause a big move up in gold imo:
hTTps://moneyweek.com/499249/how-much-gold-does-china-have-a-lot-more-than-you-think/
Chinese gold holdings will cause a big move up in gold imo:
hTTps://moneyweek.com/499249/how-much-gold-does-china-have-a-lot-more-than-you-think/
One of my other core gold holdings has been tipped in the Sunday press today. Like CEY, it’s ridiculously undervalued and well run. About to pay a dividend, too which will give it a further lift. The whole sector is due a big bounce imo, it’s just a question of timing!
https://www.thisismoney.co.uk/money/investing/article-6171759/MIDAS-SHARE-TIPS-Anglo-Asian-Mining-wars-future-starting-look-brighter.html
One of my other core holdings has been tipped in the Sunday press today. Like HUM, it’s ridiculously undervalued and well run. About to pay a dividend, too which will give it a further lift. I’m sure in due course, HUM will start paying divis too.
https://www.thisismoney.co.uk/money/investing/article-6171759/MIDAS-SHARE-TIPS-Anglo-Asian-Mining-wars-future-starting-look-brighter.html
From goldcore..
Gold And Silver Prices Fall 1.6% and 4.3% To Near 2 Year Lows
Gold and silver prices fell sharply again yesterday and were down 1.6% and 4.3% respectively to multi-month lows.
Gold drifted lower all day and ended near its late session low of $1173.20/oz, its lowest since January 2017, for a loss of 1.6%. Gold in euros has been more robust of late and it fell to about €1036/oz.
Gold in USD - 1 Year
Silver saw another bout of intense selling on the futures market and was pushed as low as $14.37/oz. There was no economic news or silver related developments that would account for the deepening sell-off.
It is again a purely futures-related price action with no refineries, mints or dealers reporting a sudden selling of silver bullion. Quite the opposite, contrarian gold and silver buyers are again accumulating coins and bars on the dip.
Demand for gold jewellery and gold bars has surged in Turkey due to the currency crisis. Gold trading volumes on the Turkish Gold Exchange (Borsa Istanbul) have more than doubled and gold prices in Turkish lira have surged by more than a third since March as reported by Bloomberg (see article and chart below). Or rather the Turkish lira has collapsed in value by a third versus gold.
The sharp falls in the precious metals is being attributed to dollar strength. The U.S. dollar is holding steady near a recent peak for now, despite the increasingly precarious fiscal outlook as Trump’s reckless government spending has seen the national debt surge to $21.35 trillion – an increase of $1.45 trillion since Trump, the “King of Debt”, took office.
The precious metals are now near their lowest in nearly 2 years despite the very favourable backdrop of heightened geo-political and economic risks due to trade wars and concerns that the financial crisis in Turkey could lead to a wider global financial crisis.
Concerns about the financial crisis in Turkey, and its impact on the EU in particular, and China and the global economy’s health are badly impacting emerging market currencies. This has led to safe-haven demand for gold, but this is not resulting in gold, or silver, being bought in the futures market.
Counter-intuitively, the opposite is happening again and this has led some analysts to again believe that the gold and silver prices are being manipulated lower on futures markets.
This could be done purely for profit motives by hedge funds and banks and or due to official intervention in order to curtail safe-haven demand, depress sentiment towards the precious metals and maintain confidence in risk assets and the wider markets (see GATA.org and Gold & Silver Being Hit Like In 2008 To Cover-Up Impending Global Financial Crisis).
As ever, it remains prudent to take a long-term view. Contrarian investors, value investors and bullion buyers, while rightly frustrated will either simply sit out the latest bout of contrived price weakness or accumulate gold and silver agai
From goldcore..
Gold And Silver Prices Fall 1.6% and 4.3% To Near 2 Year Lows
Gold and silver prices fell sharply again yesterday and were down 1.6% and 4.3% respectively to multi-month lows.
Gold drifted lower all day and ended near its late session low of $1173.20/oz, its lowest since January 2017, for a loss of 1.6%. Gold in euros has been more robust of late and it fell to about €1036/oz.
Gold in USD - 1 Year
Silver saw another bout of intense selling on the futures market and was pushed as low as $14.37/oz. There was no economic news or silver related developments that would account for the deepening sell-off.
It is again a purely futures-related price action with no refineries, mints or dealers reporting a sudden selling of silver bullion. Quite the opposite, contrarian gold and silver buyers are again accumulating coins and bars on the dip.
Demand for gold jewellery and gold bars has surged in Turkey due to the currency crisis. Gold trading volumes on the Turkish Gold Exchange (Borsa Istanbul) have more than doubled and gold prices in Turkish lira have surged by more than a third since March as reported by Bloomberg (see article and chart below). Or rather the Turkish lira has collapsed in value by a third versus gold.
The sharp falls in the precious metals is being attributed to dollar strength. The U.S. dollar is holding steady near a recent peak for now, despite the increasingly precarious fiscal outlook as Trump’s reckless government spending has seen the national debt surge to $21.35 trillion – an increase of $1.45 trillion since Trump, the “King of Debt”, took office.
The precious metals are now near their lowest in nearly 2 years despite the very favourable backdrop of heightened geo-political and economic risks due to trade wars and concerns that the financial crisis in Turkey could lead to a wider global financial crisis.
Concerns about the financial crisis in Turkey, and its impact on the EU in particular, and China and the global economy’s health are badly impacting emerging market currencies. This has led to safe-haven demand for gold, but this is not resulting in gold, or silver, being bought in the futures market.
Counter-intuitively, the opposite is happening again and this has led some analysts to again believe that the gold and silver prices are being manipulated lower on futures markets.
This could be done purely for profit motives by hedge funds and banks and or due to official intervention in order to curtail safe-haven demand, depress sentiment towards the precious metals and maintain confidence in risk assets and the wider markets (see GATA.org and Gold & Silver Being Hit Like In 2008 To Cover-Up Impending Global Financial Crisis).
As ever, it remains prudent to take a long-term view. Contrarian investors, value investors and bullion buyers, while rightly frustrated will either simply sit out the latest bout of contrived price weakness or accumulate gold and silver agai
Have just read through the full Ross Beaty interview and the more I think about it, the more I think HUM could be on their radar. We tick all the boxes….
Where is Equinox looking geographically?
Ross Beaty: I like the Americas, I know the region very well and I’ve worked in almost every country there. The management team at Equinox is also extremely experienced in West Africa so we are looking at opportunities there. We really want to stick with where we know and where we feel we have some strategic advantage.
What are you monitoring on a daily basis? What are you looking at in order to find your next acquisition?
Ross Beaty: All we’re looking at are, operating mines. An operating mine would bolt on very well to the two world class development assets that we already have. We’re also only looking at large projects (more than 100,000 ounces of gold per year in production). There’s a certain size, location, risk envelope that we’re focused on. You can also never be too rigorous, you’ve got to be very opportunistic in this situation but I would also say we’re quite restricted in terms of what we’re looking for.
I also own shares in Equinox Gold and rate Beaty as one of the best in the business.
Tom I agree Endeavour is more likely but there are a few candidates. One thing for sure is that Dugbe is not factored into the Hum share price and a JV with a larger partner after the optimised feasibility study, will add further value.
Saw this on the CEY board. Maybe HUM is on their radar? Wouldn’t mind a Dugbe JV with them.
Today's Telegraph says that amid the gold price slump Randgold 'aims to snap up rivals'. 'We've signalled we're looking for deals. We've got the balance sheet and we've got the skills'. 'The chief executive of London's biggest gold miner added that it was eyeing companies with only one asset that could be sitting on top-class tier-one mines and were ripe for consolidation'.
The chief exec also said 'Beware of a soft gold price in a screwed-up world. Everything points to a stronger gold price - you just have to watch the news: Europe is in a mess. Brexit is confused. Mr Trump walks around picking on everyone.'
Numis are forecasting 123k in Q3 and 165k in Q4, which would be a record. They have a 200p price target.
Longer term, I’ve seen several people mentioning annual production of 700k, including Josef, who I hold in the highest regard. The gold hasn’t gone away and CEY are sitting on a lot of it.
I suggest reading this blog for fulll Information. There are loads of articles on the demand for physical gold:
https://www.bullionstar.com/blogs/koos-jansen/
It has been a dramatic week for Hummingbird Resources, in which three people were killed during ongoing efforts to relocate local miners near the planned site of one of its pits by the National Guard. Brokers at Canaccord Genuity had predicted the government relocation to be a lower transition risk but do not seem to think it will affect operational forecasts as ore feed from another field remained intact and Hummingbird reported that the plant is still running. The broker keeps its target price of 50p and the �buy� rating on its stock. 50p is just the start imo.
More on the London housing crisis, highlighting the chronic need for new properties: http://www.cityam.com/285786/over-half-million-londoners-want-move-out-capital-next-year http://www.cityam.com/285736/londons-lack-rental-supply-pushing-rents-up-five-per-cent
Comment on London's chronic housing shortage and the action that's needed. TEF certainly operates in the right market. http://www.cityam.com/285084/james-brokenshire-has-no-time-waste-fixing-capitals-housing
Not at all. Read the full statement. Nice dividend, huge cash balance to develop Future mines, operational efficiencies and lots of growth to come. Obviously doesn�t meant the share price will go up today or this week, but longer term outlook is still very positive. I would just like to hear more about West Africa. Hopefully, it will be raised on this morning�s conference call. �The Doropo resource is located within a granite domain that had previously been dismissed as not being prospective for significant gold mineralisation. The team in Cote d'Ivoire has successfully proved its ability to define a resource area that is still open and with further geochemical anomalies in the area that still need to be drill tested for further prospective gold mineralisation. Test work has continued to confirm that the gold from this area can be extracted using conventional CIL or heap leaching methods. Whilst undertaking this work in Doropo, the team has also been very active on the ABC project area on the west side of Cote d'Ivoire. Although at an early stage in the exploration pipeline, initial results from first pass drilling has confirmed a mineralised corridor of over 12 km in strike length. Doropo and the ABC project have the potential to develop further as drilling continues and form part of the strong base for Centamin's exploration and development pipeline including Burkina Faso and the near mine targets at Sukari.�
If anyone has an account with TD Investing you have to make sure you have subscribed to receiving voting information (it's under accounts/Voting & Information mailbox). If you haven't then just contact them and tell them how you'd like to vote, so they can forward your instructions on to the registrars. Naturally, I have voted FOR all resolutions and don't see how this reverse takeover can go through.