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Hi email,
You may be ware but if not then try listening to from "Our own correspondent " which has insight, wit and analysis from BBC correspondents, journalists and writers from around the world.
https://www.bbc.co.uk/programmes/p002vsng
Iran's senior military commander had already issued a statement stating that over 50% of the drones used in the attack on Israel were old technology and basically a way of making a point and that as far as Iran was concerned the matter was closed unless Israel made another attack in which case the next response would be far more serious using the latest drones.
So we shall have to wait and see but it seems that Benjamin Netanyahu and his bunch of cabinet Zionists are intent on starting a regional conflict which the Yanks will likely get pulled into in some form or another!
I agree Mr Gnome , I very much doubt this is over and no wonder considering the continued of persecution and systematic genocide of innocent Palestinians by the Israeli government and now the refusal of America to allow Palestine full membership of the UN!
https://www.bbc.co.uk/news/world-us-canada-68346027
https://www.abc.net.au/news/2024-04-19/us-vetoes-palestine-full-un-membership/103743744
https://www.youtube.com/watch?v=A7nHVvaJQ2k
Mind you our stinking UK government and Switzerland's government abstained!
A very clear statement indeed from the Egyptian officials "No power cuts where it matters!"
Certainly demonstrates the Egyptian governments priorities and just how much Sisi and the Egyptian bureaucracy cares about the welfare of it's ordinary people!
But then it's our Western Banks and governments gangster like tactics along with the USA of course that to a large extent to are to blame, no wonder there are revolutions!
Hi Siko,
Thank you for the explanation and can understand your point about Egypt's need to earn foreign currency .
However that said the vast majority of the accruing debt that poorer nations and third would countries are never going to able to repay is against foreign fiat currencies loans created out of thin air on a bank computor screen.
https://debtjustice.org.uk/blog/egypt-blog-3-who-will-pay-the-price
After being revealed by the Israeli newspaper Calcalist and WikiLeaks, the proposal is getting attention in the Israeli and Egyptian critical press. Tel Aviv appears to be in talks with Egyptian president Abdel Fattah al-Sisi about Egypt taking in Gazans and settling them in Sinai, in exchange for the cancellation of all its debts to the World Bank!
https://progressive.international/wire/2024-02-02-israels-latest-weapon-against-palestine-is-egypts-debt/en
"As Egypt's regime inches closer to fresh dollars, Egyptians continue to be shocked by monthly inflation in the range of 30%"
https://www.newarab.com/analysis/will-egypts-imf-bailout-dispel-domestic-money-fears
Hi Tony,
Several years ago now Andrew Maguire and other's in the business were trying to make a a wider audience aware of what the Chinese were doing and that the the gold price suppression by those that run the system at present was actually making it easier for China to achieve its overall aims!
Well now it's becoming a reality, although a $2100 price cap on gold seems rather low to say the least!
Quite so Rebess, you may recall that Andrew Maguire has been explaining that this was the reality for some time now, although all too often people would rather try to deny the evidence in order to try and keep the "Status quo".
Futures positions can be settled for cash at any time . If held to expiry, then yes positions must be fully funded to deliver or take delivery.
Options in plain vanilla form do not require delivery, but if a call or put is ‘written’ / instigated, then it exposes the writer to unlimited losses ,if they cant deliver!
Hi Siko & Cowichan,
Thank you both for your input on the subject of a reliable electricity supply, even in the UK and certainly since privatisation of the energy companies and the national grid infrastructure the energy supply is unable to cope with adverse weather conditions and the reliability of supply in certain area's is far less dependable than it once was or should be now!
This is due to an outdated grid infrastructure running at it's upper limits and the decision to increase profits by to greatly reducing and getting rid of local depot's teams of stand by line maintenance crews and instead depending on regional contracted in maintenance teams who have to be pulled in from other work when needed.
As you may be aware the situation of reliability of energy supply in the USA is rather fragile as the grid infrastructure is in an appallingly bad state in many outlying areas and one of the reason so many wild fires occur due to the collapse of power lines and sparks from poorly insulated grid equipment and lines.
But as to Sukari it seems very apparent that the Egyptian national grid is not capable of a consistent and reliable supply otherwise there there wouldn't be the power cuts to the ordinary citizens.
That said not only is rationing the ordinary Egyptian peoples electricity supply morally wrong it is unhealthy and may also create resentment on the peoples part if they are suffering power cuts in order to keep foreign industry running at full pelt, so would be very unwise not to retain a fully maintained and ready Sukari electricity back up.
The open pit seems to be mining just for the sake of mining , how many times now have we heard they have hit some unexpected low grades!
Why not just be honest and admit that the open pit is to a large extent a waste of money, energy and time!
So a trouser down moderate spanking for us all again, but the good times might be coming sometime in the who knows when
The open pit has once again shown the mediocre grades are endemic and that the commercial viability of Sukari is very much reliant on the underground workings!
just as well the POG is where it is or the trouser down spanking would have been considerably harder!
“Separately we see the official sector, central banks in the emerging markets in particular, to buy a record amount of gold over the last several years, including over a thousand tons in 2024, which would be the third-highest since 1967,” he said. “We think this physical demand is structural, it is strong, it is driven by a host of factors, and financial demand for gold is only catching up to that.”
https://www.kitco.com/news/article/2024-04-17/citis-most-bullish-forecast-has-become-likely-bank-now-sees-3000-gold-play
Acohen196, As this is your first post on the LSE forum in it's entirety then possibly you didn't make any posts when holding this stock prior to selling or you have been studying the company on another forum.
With the POG at present levels and the likelihood of it rising towards $3000 this year then the results would have to be pretty dire for the share price to drop back to £1.00!
Likely wishful thinking on your part, or just mischief making then!
Hi Paul,
As Rebess highlighted at the time there was a reference by Martin Horgan to a possible "soft" first half weighted to H2, so possibly pre warning the market who may have priced some of the potential disappointment in, obviously we retail investors don't have any way of telling?
That said the company must have benefitted from the higher POG so that might compensate for some lower output ?
But that said you may recall that for a while so long back in the past now that Centamin was in the habit of under promising and the over delivering.
So let's hope that that old tactic has been brought back into use, that would be nice!
Otherwise depending on the severity of the bad news it may be a case of few hundred lines of "I promise to do better next time!" or if the results are really off the mark then be prepared for a trouser down bare ar(sed thrashing!
But afterwards if the POG stays strong hopefully the pain will soon fade away as the SP recovers!
Tibbs
Dear Sotolo,
Read some of Robert Peston's books (BBC Business editor) on what goes on in the big banks and in the markets or listen people from all over the world on the BBC World Service about the hardships caused to communities and indeed the damage caused to our planet brought about by the huge and rapid price fluctuations (or manipulation) caused by placing future buy and sell contacts of all in many cases as yet non-existent and never delivered commodities on the Comex by trading desks .
Whether you call it it manipulation or intended erratic or high speed fluctuation of prices it is a fact and the markets and banks make huge amounts of profit as a result including from panic trading!
So it is certainly not a conspiracy theory it is fact not fiction, open your eyes and don't be afraid to speak up.
Mistakenly, just as I once did most people think that most of the money made by the big players banks is from their trading expertise on the market, yet it isn't, they make far more from the exorbitant fee's and trading costs sometimes charged twice, even more times over on every trade.
Don't be worried about offending Kitco they are a big organisation and will likely welcome my email and they are quite able contact all concerned including me should they so wish.
I have also copied in Andrew Maguire and Centamin.
Lets have a debate on the issue and hear these experts substantiate some of the statement's they put out which in the main are intended to influence the market and investors decisions which aren't always in the retail investors best interests!
Tibbs
17th April 2024
Re https://www.kitco.com/news/article/2024-04-16/abn-amro-maintains-2000-year-end-price-target-even-gold-trades-near-record
Dear Kitco News Team,
I feel that this article is not entirely accurate and may be intended to mislead or cause panic amongst holders of gold and silver bullion.
I am long term investor in gold miner Centamin and a friend of Andrew Maguire a long established and experienced London gold trader.
Andrew has for many years tried to educate investors and make known to a wider audience the price manipulation of precious metals on the Comex market by means of leveraged paper contracts and in view of this I would like to express my absolute disagreement with Georina Beole's statement that there is "No shortage of gold".
Georgina is either misinformed,or for whatever reason attempting to hide the true facts by failing to explain that the price of physical precious metals bullion would be much higher were it not for the suppression brought about by the selling of huge paper contracts by the big players trading desks of as yet non existent gold and silver on the Comex markets.
Like many other investors I hold Kitco and it's journalists in high regard and follow the Kitco channel on a daily basis for what I hoped to be unbiased and truthful gold and silver markets information.
So in view of this and on behalf of many other Kitco followers I would like to challenge Georgina Beole to substantiate her claim that there is a shortage of physical gold bullion in a video debate with Andrew Maguire and any other well informed participants.
Whilst it may be that the price of gold is brought down to nearer $2000 by December by the manipulation achieved by paper gold contracts selling on the Comex it certainly won't be due to any surplus of physical gold bullion!
I shall be copying in Andrew Maguire to this email and also making other investors aware of it on social media and other relevant forums.
I look forward to your response.
Yours Sincerely