Member Info for MrBond46

If I understand you right ,no chance of outside interference.
But there is a chance of old workings, destabilising.
As happened a few years ago, when a portable drilling rig and operator dropped into a void . Which was sad but shows how dangerous mining can be.

The accepted angle for mines and quarry faces is no more than 45 degrees.
then a rock fall becomes a gradual slide.
More than that in most places is usually, suspension and or heavy penalty, no exception or excuses.

I agree.
But my point is removing a known weak link.

Example,02/11/2017 Yoseph told Egypt Daily news 2018 production would be 600000 troynoz.
Then in June 2018 repeated his optimism. July the company reported a decline in production of 25%.
How and why could he be so wrong ?
He if he knew his job would have kept his mouth shut.
This latest boob with the open pit is probably overburden above the ore which should have been removed earlier ,not now.
Again bad management from him.
Now this overburden (Waste) is unstable, and in danger of collapse onto the machinery below.
That is my take on Yousph's mining knowledge. For goodness sake go back to the Police Academy, where you graduated and let a professional take over.
End of rant.

Responsible for H@Safety, issues. Amongst many others.
This man in my humble opinion, has been a thorn in the side for far to long.
Ultimately he is responsible. One month ago he sold a considerable stake. A coincidence is to hard to swallow for myself.
In the past he has given problems with making incorrect statements, bull to the press , when a short while later an RNS was issued giving bad news, that was quite a while ago, but I remember clearly.
It's time for him to stand down. IMHO.

The RNS stated measures are already being taken.
The unstable waste has to be removed "safely" which means ,when finished ,less waste to move and more higher grade ore, accessed more easily.
So they have possibly used a worst case scenario in the RNS.
The had already quoted slower production this quarter for maintenance of the ball mills.
Overall you must remember this is mining ,mother nature is in control.
And yes, Supercharger maybe EMRA will take all this into account in granting permission for a second mine to CEY .In order to benefit themselves from more revenue and stability of production, should there be more problems in the future ,as it is sure to happen again .

MM s will jump on this today.

Will that also affect the price of gold ,HA HA ?

Gold rising though weakening dollar plus 1.5 predominant buyers plus 21.9 ,total change $ 23.4 at 12.14 pm.
Makes for an interesting Friday.
GLA.

Yes Gino you are right, the little guy was Manny the Irish guy, I think was Pat.

It's about turnover, just look at us.
Over years ago a tv series "never mind the thickness ,feel the cloth",
To brag of turnover I have seen many times, from idiots ,it's profit that count's .

According to ,SKS Mining group, mining companies in Egypt .
Shalateen has no recorded executives, as it is private ,operated under the miltary.
So we can assume it's classed as secret. (very 007) It's CEO is likely to be Goldfinger !

Rebess ,ZI wondered the same, thought it might be directors, but cannot even find the directors.
Strange, but as you have said before it is after all ,Egypt.

Kitco gold index shows dollar weakness but more predominant buyers dollar plus 7.3 buyers plus 10.1 .at this moment. Gold 1898.

Making what appears a strong climb back, $1893 at the moment on the back of new US fiscal stimulus according to commentary on Kitco news.
Fingers crossed.

Cowichan, your statement "the disputed parcel", is of course G ,but there is no dispute of course.
You were theorising , what if .
It is for EMRA to decide ,the highest price in auction normally wins, but if EMRA do not think the bidder is "Right and proper"
they have the power to award to another.
As Mr Naguib Sawaris has realised in his attempts to buy into the Egyptian banking sector, and possibly the Shalateen merger. Not a "right and proper" candidate.

Out of interest, what disputed parcel ?

Unfortunately for Barrick and its debt , it is now devolving its control and making individual mines more responsible for themselves.
They IMHO are out growing themselves, and are not likely to want more problems in this current financial ,politically uncertain climate.
The chances of a joint venture in Egypt in my humble opinion are next to zero, they already have a partner.
But what do I know, nothing ?

Sotolo , maybe after this election circus is over and done, some sanity may ,only may return.
Really gold has a long way to drop before we need to be the slightest bit worried.
Lots of money has been lost and made since March ,it seems to suit the insiders but not PI traders and so it will continue.

Gold today has actually risen 27 cents.
The miners prices track gold after a few days normally. But now nothing is "normal".
Same as gold now, also tracks stocks, that is not normal it used to be the reverse.