We spoke to gas explorer and developer Sound Energy. Here are the latest updates from Executive Chairman Graham Lyon. Watch the full video here.
Those long term holders will remember the share price at this level when the price of gold was much lower than now and stage 4 was still under completion, Capex was still being paid back and and production was such was that profit share was thought though to be a ling way off.
So if anyone or even the market just applied some common sense to the situation now, a bit less production,some open pit waste to claer away and a pit wall to make stable by a new more capable manegment with the expertise, the strategy and the means to increase and sustain production not so far off with access to new and exploited reserves in Eygpt and elsewhere, the likelihood of outstanding issues settled and the possibility of better standardised terms of operation in Eygpt, not mention the rising POG, cash in reserve, a sustainable dividend of over 6% and the knock on benefits of Basil 3 to POG not so far off!
Now how on earth can the MM or anyone else in their right mind else possibly think the present share price is sensible and justified when common sense dictates it simply isn't!
To be fair some of thee newer members may not be fully aware what a difference the fuel subsidy made (and would continue to make) in reducing the AISC .
Remember this was all a part of the original considerations on whether Sukari made commercial sense to build given a sub $1000 POG !
Due to unprecedented times and evolving global evens in recent years the POG has risen which fortunately for Centamin's share holders has smoothed out some of the unexpected and considerable increase in diesel cost's, and indeed recent cuts in Sukari guidance due to lower grade and potential pit wall problems which will take around two years to rectify before production can be restored to more normal and sustainable levels.
But as we are all aware the POG ican be fickle and subject to all manner of influences and cannot be guaranteed too continue to remain at what some regard as over elevated levels, of course the POG may continue to rise, but what if it doesn't, when it looks pretty certain that OPEC and Putin will continue to cooperate over restricting oil output to bolster and increase oil prices.
Recently I referred to the diesel fuel subsidy case for which I make no apology because some don't seem to realise the huge amount of money involved.
Centamin's legal advisor's seem confident and believe their case is strong , but even if Centamin were to win the case, then how does the Egyptian government go about refunding such a huge amount of money in a way that doesn’t cause it budgetary and possibly even political embarrassment , now consider could this be why it hasn’t been settled before by the Egyptian court's and government.
I heard from a good source that Martin Horgan believes it is in the best interests of all parties concerned that both the concession court case and the diesel fuel case be resolved as soon as possible.
With this in mind he is trying to come up with a solution that is acceptable and practical for all parties concerned, the latest Egyptian concession awards to Centamin may well have presented an ideal opportunity to have everything on the table and consider the whole Centamin Egyptian package.
I hope you will all take my comments in the spirit in which they are offered.
Agree entirely,getting a publisher to take the risk is far easier if your are a celebrity nether than a good author, it's a shame their are some excellent work by unpublished authors who get turned down because they aren't already known, so they end up writhing for some celebrity and never get the recognition they should.
As to Osborne, prime example of the publisher wanting a name rather than a good editor!
I now only invest in companies who I can believe have some of the right core values, certainly that doesn’t include Amazon.
My wife is published author (not in the J.K, Rowling league) but Amazon treats new or lesser know authors appallingly, they manipulate the reviews to give priority books to Amazon wants to push and they make it very difficult for authors and readers to use any reader platform other than Kindlle,
Kobo which was actually a far better system has been forced to pull out of the UK because of Amazon book market manipulation and dominance of retailers.
If you are looking for a book "Smashwords'" is much nicer and fairer organisation to deal with for all concerned.
Amazon despite what it claims in TV adverts does not treat its workforce well; the organisation rules by fear and intimidation and is anti union to the extreme.
Reputable retailers terms on Amazon are exorbitant and they are not treated well and the reviews are not to be entirely trusted because Amazon's choice is quite often not that good, I have even had some companies from outside the UK offering to let me have the goods I have wanted to return or are faulty for nothing if I would give them a 5 star review!
Amazon despite obscene profits doesn’t pay its fair share of tax in any of the counties in which it operates or dominates!
The Amazon TV stick is sold under false pretences, a truly awful thing that is forever trying to get you to subscribe to ever more Amazon controlled products and services and do we really need Alexa, are people so helpless or lazy ?
By all means use Amazon as a starting point if considering a product, but then take the name of the companies of anything you are interested in and contact them direct, you will get better service and pay less in the majority of instances.
I could give a list of a whole range of products bought from outside Amazon with as fast or better delivery and in some instances longer guarantees that have all been cheaper.
Amazon has conned the people and it now exploits them in many ways!
I once held RBS at over £7.00 with an excellent dividend, at the share holders meeting in Edinburgh they fed us best Scottish smoked salmon and Aberdeen Angus steak , when Fred Goodwin entered the room the film score from "Braveheart" played.
Two years later I saw the shares drop to 10p so fast it was impossible to do anything, then they rose to 20p and there they stayed.
I once held LIoyds , similar type of story, ruined in an misguided attempt to prop up HBOS!
Bought Standard Chartered during some sort of sars. chicken flu crisis at £3 added to them by investing divi and more cash and and then sold out at around £20, put that into Centamin
Bought Kaz.l when their only mine was flooded at £2. 90, sold them some years later at £17.
Sold them all years ago and put the proceeds into Centamin when it was on its knees, 37p- 50p so glad I did.
Personally I don't believe banks are to be trusted or know what they are supposed to be doing anymore , wouldn't touch any of them they are shyster's !
Invested on the US markets for a while, but the individual share's are generally ridiculous prices and it's very easy to get into a loss situation with no easy opportunity to average out, and generally the dividend paid are pant's, there is also the tax botheration.
So I stay away from the US market's.
Bernie Madoff, the Wizard of Lies: Inside the Infamous $65 Billion Swindle by Diana B. Henriques
Inflation is a very loaded term for economists, with plenty of debate around exactly what causes it and the best way to define it. But when most people hear the word “inflation”, they think about rising prices.
Understanding what’s happening to prices is very important. Measuring price inflation can help us to spot where potential problems might be building up in the economy. For example, rising prices might indicate shortages or bottlenecks. Falling prices might imply a collapse in demand. However, even then, getting a proper view on what’s happening to inflation depends on exactly which set of prices you are trying to measure.
At age 35 you are fortunate for many reason's, having the spare cash to invest, having great investment opportunity in a good company that will grow and pay you dividends and above all the time to wait!
So pile it all into your ISA , reinvest the dividends and then sit back , who knows you may be able to retire at 55 and forget the markets !
Hindsight is always a great thing, I too would be very rich if I had jumped in Bitcoin around the value's you mentioned, who could have guessed that it could have risen to these levels
Bitcoin has no intrinsic value; it never did and never will. It is a purely speculative asset—a private fiat currency—whose value is whatever the markets say it is.
But bitcoin is also a socially wasteful speculative asset, because it is so expensive to produce.
Thing to ask yourself is do you trust the Cartel & markets not to find some way of manipulating Bitcoin, the notion that they won't be able to is popular opinion, amongst it's holders that is, , but I remain very sceptical because they are bound to find a way to manipulate it's value, they may even be doing it now,former BOE Governor Mark Carney hinted at this in one of his lectures on the future of money.
I'm not in bitcoin, but if I had been then I would be getting out now and putting the funds into something like physical gold, Kinesis or Centamin!
As I said I did the latter this very morning like you, unless I'm very wrong we and all the Centamin holders won't regret their decision.
But of course as we know hindsight is a great thing!
Remember Frisby’s Law: “A bubble is a bull market in which you don’t have a position.” The first to declare something a bubble are outsiders who have missed out. How many times have the media declared that the bitcoin bubble has burst?
Now the media are declaring the NFT bubble has burst...
Read the whole of this article on the MoneyWeek website
Until next time,
The “not owning stuff” bubble is bursting
The more venerable readers of this column – anyone over the age of about 45 – might recall the days when content had value. Records, for example. Blokes (mostly) would spend years, decades even, building up a collection of records. As plain a signal of amorous intent as he could ever give would be to record a mix tape of his favourites and hand it to the object of his affections.
And then along came digital technology – iTunes, Spotify and all the rest of it – and the value of that priceless collection went pretty much to zero. The object of affections, now his wife, declared he would have to put that priceless collection in the attic if they wanted the relationship to succeed. Or, better still, give it to a charity shop. And so did the bubble of analogue tech deflate.
Now nobody owns anything. Stuff isn’t an asset, it’s a burden. Generation Rent hires the house, the Rolls-Royce, the holiday home – it doesn’t own it. This asset-light generation prizes experience over material things.
The LP-owning hero of our story makes do with a Spotify subscription, which takes up far less space in his home, which, thanks to an inflated housing market that is verging on the fraudulent, is of a much lower square footage than he would ideally like.
“Most people who own homes are like rich people or old people,” Generation Rent disparages. “We don’t want homes. We don’t want the hassle.” It wants wealth, but is less bothered about physical possessions, so the story goes. They don’t work in the “real world” economy; they work in the digital economy.
In fact, the bubble in “not owning stuff” got so bloated, it had Klaus Schwab of World Economic Forum fame declaring – in what must be one of the most misconstrued statements ever uttered – that by 2030, “You’ll own nothing and you’ll be happy about it.”
Well, surprise surprise, it turns out that people do want to own stuff. In fact, owning stuff – whether it’s caves, or glinting gold nuggets hanging round one’s neck together with shell necklaces, shares in Tesla, or originals of easily-replicated digital art designed by artists with groovy names like Beeple – is about as basic a human urge as there is, surpassed only by eating, reproducing and keeping safe.
What the easy replicability of digital tech did was to devalue content and make ownership much harder. Now NFTs have come along and they are, to misquote Donald Trump, making ownership great again.
What NFTs are really for – owning digital stuff
For sure, NFTs are a bubble –bubbles always accompany new technology. But bubbles also serve a purpose in that they accelerate investment and adoption. Without the railway bubbles, the tracks would not have been laid; nor, without dotcom in 2000, would the cables. Tulips were a bubble and, 400 years on, the Dutch still rule the roost in flowers. Scorn bubbles at your peril.
Yes just that , if only we could change things for the better, the problem with most revolutions is that those that lead them them and get to replace the old lot become just as bad or even worse once in power!
The very problem with our politicians!
Swiss banks drop unallocated gold to prepare for Basel III rules, London metals trader Maguire says
Submitted by cpowell on Thu, 2021-01-28 21:04 Section: Daily Dispatches
9:04p ET Thursday, January 28, 2021
In this interview with Shane Morand for Kinesis Money, London metals trader Andrew Maguire explains why the "Basel III" financial stability rules, which are soon to be imposed by the Bank for International Settlements, will push major banks out of the "daisy chain" of unallocated gold contracts and into physical gold holdings by the end of June.
The LBMA although granted an extension until Jan 2022 will still be affected by BaseL 3 in June 2021 because all of Europe will be complying then, despite the pandemic!
LBMA used the the pandemic as an excuse to get and extension until Jan 2021
Jim Rogers is not only one of the most successful investors of our era, he's also an avid scholar of history.
Seeing that the world is buried under an unprecedented mountain of debt that is requiring more and more central planner intervention to keep from imploding on itself, Jim says history is clear on what happens next.
A clearing of the debt either via massive default, or destruction of the currency it's denominated in.
He looks into the future and sees a terrible reckoning ahead; one he predicts will be "the worst economic crisis of my lifetime" -- and Jim is 78 years old.
So where should investors look to preserve the purchasing power of their wealth against what's coming?
Jim highly recommends precious metals and other commodities as an important part of the solution. As an overall index, commodities are the cheapest they've ever been vs the general stock market in over half a century.
Like many of the previous guest experts on our program, Jim maintains the near-term environment will be one of the most challenging times to invest in our lives.
Which is why he's emphatic that now, more than ever, is the time to partner with a financial advisor who understands the risks in play, can craft an appropriate portfolio strategy for you given your needs, and apply sound risk management protection where appropriate.
Will look out for that film, also like 'Hot Fuzz" Jim Broadbent!
I'm pretty confident that Centamin is going to do very nicely indeed if Matrin Horgan's plans come to fruition, very exciting because the company was held back by his predecessors who in many respects were only concerned with maximising output in the short term,, making promises for the long term and kicking the can down the road regarding anything else.
Thankfully though a long overdue culture change on the top table!
We don't need to concern our selves too much about the gold price as Andrew Maguire and other's have explained the Cartel only have a couple of months or so to try to finish unwinding their short position's!
I really hope the shorter's get their butt's burnt off and the LBMA goes down the pan, who will the Yanks get to help them hold down the POG then?
Decided to put another substantial purchase of Cey into my new 2021 ISA today.