Member Info for mrtibbles

High Gold Price Strong on China's New Year Return Ahead of the Fed, But Sinks Indian Demand
Monday, 1/30/2023 14:46
GOLD PRICES in the US Dollar firmed on Monday as financial markets looked ahead to this week's interest-rate decisions and inflation comments from the Federal Reserve, the European Central Bank and the Bank of England, while the price of bullion in China and India, the two biggest gold consumer nations, rose to multi-year and all-time highs respectively, writes Atsuko Whitehouse at BullionVault.

With analysts and traders expecting the US Fed to slow, pause and then start reversing its interest-rate hikes in 2023 while the Eurozone and UK catch up, the Dollar index – a measure of the US currency's value versus its major peers – today edged down to near an 8-month low.
That saw spot gold steady above $1926 per ounce, down from Thursday's new 9-month highs near $1950 per ounce after the benchmark price in London – the precious metal's global trading and storage hub – just failed to make a 6th consecutive weekly gain on Friday afternoon.
"This gain [in gold] is believed to be largely driven by investors looking to mitigate risk and in anticipation of a slowing in / cessation of the Fed's rate cycle," says analysis from Rhona O'Connell at brokerage StoneX Group Inc.
Gold prices on the Shanghai Gold Exchange meantime began the new Year of the Rabbit unchanged on Monday from pre-Chinese New Year at ¥422 per gram, the highest since September 2020.
As China's financial and wholesale bullion markets reopened after the Spring Festival holidays, the price of gold in Shanghai continued to show a strong premium to London, increasing to $13 per ounce today, more than 60% above the typical incentive to new imports of gold into the metal's No.1 consumer market.
https://www.bullionvault.com/gold-news/gold-price-fed-013020232

Fair comments Paul, I was wondering the same!

https://stocknews.com/news/gfi-celtf-drd-3-gold-miners-stocks-to-buy-for-2023/

Centamin plc (CELTF - Get Rating)
CELTF, headquartered in Saint Helier, Jersey, explores, mines, and develops gold and other precious metals in Egypt, Burkina Faso, Côte d’Ivoire, Jersey, the United Kingdom, and Australia. The company’s principal asset is the Sukari Gold Mine project, covering an area of approximately 160 square kilometers located in the Eastern Desert of Egypt.
On January 16, CELTF announced a ruling by the Egyptian Supreme Constitutional Court (SCC) in its favor. The court upheld the constitutionality of Egyptian Law No. 32, which provides that third parties are prevented from lawfully challenging contractual agreements between the Egyptian government and an investor(s), such as the Sukari Gold Mine Concession Agreement.
The judgment was welcomed by CELTH, which would now be in a position to apply to set aside the 2011 third-party challenge to the validity of the license issued under the Sukari Concession Agreement.
During the fourth quarter of the previous fiscal year, CELTH commissioned the 36Mw Sukari solar plant. This helped the company to deliver immediate cost savings and reductions in carbon emissions and went a long way towards providing access to a $150 million sustainability-linked revolving credit facility providing greater flexibility to fund growth.
During the fiscal year 2022, CELTF’s gold production increased 6.2% year-over-year to 440.97 Koz. The company’s gold sales increased 7.7% year-over-year to 438.64 Koz during the same period. At the realized price of $1,794/oz., the revenue came in at $788.4 million, up 7.5% year-over-year.
CELTF’s revenue for the fiscal ended December 31, 2022, is expected to come in at $800.27, translating to an increase of 9.1% year-over-year. Analysts expect the company’s revenue to increase by a further 2.7% during the current fiscal to come in at $821.75 million.
CELTF has an overall B rating, which translates to a Buy in our POWR Ratings system. It also has a B grade for Stability, Value, and Quality.
CELTF is ranked #3 of 39 stocks in the Miners – Gold industry. Additional ratings for CELTF’s Growth, Sentiment, and Momentum can be found here.

Good Morning Evanescent,
I very much appreciate your kind gesture in supporting our friendly and somewhat different from the rest forum.
I appreciate that some may find our conversations and debates somewhat different from the usual boasting and spitefulness s that prevails on so many of this type of forum and we all have differences of opinions at times, but that said I doubt any other forum can boast such wealth of information on Centamin and indeed many other related and non related matters, but possibly most importantly it is a friendly forum where members aren't ridiculed for asking a question or making a trading mistake!
Keep well and good luck with Centamin!

Rebess, I also meant to say,
That is a very generous offer of yours which demonstrates your personal commitment and trust in Kinesis and I can certainly vouch for your integrity!
Best
Tibbs

I agree entirely Rebess, unfortunately, it will take some time and mean some investors losing money on the alternative unbacked Crypto currencies before they come to realise that Kinesis is quite different, in fact unique!
Tibbs

Deary me Mark 9999,
You possibly put too much salt on your corn flakes this Sunday morning, never mind you cant help outburst!
Cant recall any posts from you on gold or Centamin, possibly you have nothing to post apart from vitriol?
When there isn't much new news about Centamin It's an established tradition to post on other topics at weekends to offer some distraction from the tension of the week and keep the forum alive and ticking over!
Hope you had a lovely week end and feel much better this morning!

Yet another crook exposed!

Sun, 29th Jan 2023 10:06
(Alliance News) - Nadhim Zahawi has been sacked as Conservative Party chair by UK Prime Minister Rishi Sunak, after an ethics inquiry into the handling of his tax affairs found a "serious breach" of the Ministerial Code

Good one Paul!
But "Leonard Cohen" summed it all up perfectly!
Every once in a while, it’s good to get an update on the state of the world from someone with a point of view a bit more enlightened than some periodical or the evening news. Leonard Cohen delivered just such an update on his 1988 classic “Everybody Knows,” a song that was thrillingly comprehensive in its overview then and somehow remains chillingly accurate now about the threats facing this planet and the foibles of the poor fools who inhabit it.
https://www.youtube.com/watch?v=4--RS0A9MMI
https://genius.com/Leonard-cohen-everybody-knows-lyrics

Hi Sotolo,
Quite so Sotolo, not a thing to do with Centamin, that's why I posted, its good to have some diversion, my music taste a vert broad church to say the least, although I can't stand "Rap"
Yes, your partner is quite right on both counts!
https://www.youtube.com/watch?v=jEGNsc89rBA
https://www.youtube.com/watch?v=anxQ-CoesRQ
https://www.youtube.com/watch?v=au30c9ZMIPg
https://whatatune.com/four-of-the-best-mongolian-metal-bands/
https://www.youtube.com/watch?v=x8Q3PWjo8jM
https://www.youtube.com/watch?v=CdqoNKCCt7A
https://www.youtube.com/watch?v=GEMuAnFH_lM

Enjoy!

New Order's Blue Monday was released on 7 March 1983, and its cutting-edge electronic groove changed pop music forever. But what would it have sounded like if it had been made 50 years earlier? In a special film, using only instruments available in the 1930s - from the theremin and musical saw to the harmonium and prepared piano - the mysterious Orkestra Obsolete present this classic track as you've never heard it before.
https://www.youtube.com/watch?v=cHLbaOLWjpc
Wintergatan - Marble Machine (music instrument using 2000 marbles)
https://www.youtube.com/watch?v=IvUU8joBb1Q

As usual the POG and Centamin get knocked down again for the weekend!

Hi Bob,

My understanding that despite any “Lien” it would be impossible for the ETF’s to fulfil all requests for physical despite any legal charge on the physical gold?
In which case what happens, what does the ETF do to resolve the issue?

I will see if I can get you an answer though!

Tibbs

Find out why gold ETFs are NOT what they seem!

https://www.youtube.com/watch?v=hvM3rh2PQf4

Andrew Maguire reports on the accelerating adoption of a gold benchmark price for silver and commodity trades between nations, while examining the main drivers behind the current gold price rally.
The lifelong wholesaler reflects on the global implications of Russia’s plan to launch its own gold-pegged stable coin, evaluating its potential to undermine the role of fiat currencies in foreign trade transactions.

Hi Siko,
Thank you for that, Must admit I had just tried to open and translate the first page!
Once again thank you for the info!
Tibbs

Hi Mike,
Cowichan is a very decent sort who has posted so much useful information on this forum and taken the trouble to write to the company, as retail shareholders its impossible to get everything right and the only way to find out is to challenge and ask questions, the wasn't enough of either in the past and Martin Hogan wants shareholders to take an interest, whatever the size of their holding!
Tibbs

Thank you Mr Gnome, this is really worth a look!
Interesting view on why the Real Reason Central Banks Are Desperate to Hoard Gold!

Hi Siko,
Thank you for the information, seems I was wrong on this, but here you go at least I know now, unfortunately although I can get onto document via the link there seems to be a problem loading it to translation in Google.Opera & Firefox?
But never the less your word id good enough, so it seems no hope of getting anywhere, originally Centamins legal team gave the impression they had a strong case , but then that's lawyers always after making a fee win or lose!
Thank you once again and sorry to everyone who's expectations I may have raised on the issue!

Re The future prospects are important ,not re-iterations of what happened in the past
Hi Mr Bond,
I totally disagree with you on this, we have had over well over a decade of the management trumpeting future prospects and then after a few spikes up in the share price the level to which it had risen couldn't be sustained because the results had been achieved by intentionally using unsound mining practice at Sukari and making what the management knew to be undeliverable guidance predictions, until the next RNS of the unexpected low grades which they knew about in 2015 but kept hidden necessitated the release of yet another RNS guidance cut, this usually after the BOD had already filled their boots with bonus shares or sold a shed load!
So what's different his time, so far it's much the same we are still waiting!
The big downside to owning Centamin shares today is the outrageously high AISC which seems baked-in for the next 2 years!
It was intimated that the astrochemical AISC the 2020 announcement of the 'Bonanza Zone' would be a way to add some high grade, allegedly these bonanza grades were very close to active mining stopes - so what happened?
That is to say ,why talk about a potential windfall only to have it fizzle out like a damp squib!?
Fantastic aspirations and promises that fade away, rather like a desert mirage! always seem to be the norm with this company!
As yet how can we be certain that that this current waste clearing blitz will not be the last - especially considering the north hill covering the Cleopatra zone was supposed to be further along in its removal by this stage?
If true, then how will that massive load of waste be 'caught up' ?
I recall in the past the management were questioned in regards to the dump truck fleet not being used to capacity (something like 20% spare capacity was noted in quarterly report after quarterly report) and that was the norm for years!
It never occurred to me they were not following the script on purpose - just had overcapacity built into the mining fleet, why?
So I shall keep revisiting the past until I see proof over several quarters that things have really changed!

Hi Paul,
Yes indeed so would I like to reach £3 and indeed we could well have done were it not ior having to pay for Pardey & Youssef's pile of crap too be cleared up!
That said and no one seems really bothered on here but $367m in what can be described as illegally or unjustifiably withdrawn diesel subsidy would have also gone some considerable way to paying to put things right at Sukari, but no Centamin decided it was better to walk away and not risk losing the appeal?
Unbelievable, the fuel subsidy was part of the original concession agreement and that is enshrined in Egyptian law.
If it is OK for EMRA to change the terms of the concession then why shouldn't Centamin amend the profit share to 60% Centamin 40% EMRA, see how that would go down!
When the fuel subsidy was withdrawn Centamin layers stated that Centamin had a very strong case foe the appeal , however if the case was found in Centamins favour then the Egyptian government would have to pay back the withdrawn subsidy but that would be impossible in one lump because of the dire state of Egyptian finances, so the only alternative would be stage payment from profit share , that wouldn't be popular to say the least!
So by coincidence now it seems Law 32 is ratified, the court case goes away and Centamin have thrown in the towel on getting back their, our money!