Member Info for mrtibbles

If you take a look back this turnaround for gold is as explained by Andrew Maguire, POG was hammered prior to options day closing on 31st Jan.

Yes, perhaps some of those that didn't seem to think much was happening will be a little happier ,I'm sure there will lots more news to come yet though!

Quite so Mr Bond, Also however many Jihadists are wiped out by foreign troops as soon as those troops leave the Jihadists will return, probably in even greater numbers just like in Afghanistan!
Strange how our government and others can cut foreign aid to feed the starving caused by conflicts often caused by the West and yet there is always money to fund troops and arms to go and suppress and kill them!

On the BBC World Service Sunday
Jihadists killed in four incidents
According a statement released on Sunday the French military said that "various terrorist groups were located, identified and neutralized by Burkinabe forces and Barkhane units."
The engagements with the Jihadist groups, who are fighting an insurgency in the Sahel region, took place in the week before a military junta seized control of the West African country.
Air strikes also targeted motorcycles and pickup trucks reportedly loaded with weapons.
On January 16 a patrol engaged fighters in the Gorom-Gorom area in the north.
Burkinabe forces equipped with advanced guidance systems were able to direct air strikes on January 17 and 18 and destroyed a militant convoy near the border with Mali.
On January 23 an operation involving fighter aircraft and drones targeted a group of fighters and destroyed a dozen motorcycles.
https://www.dw.com/en/burkina-faso-french-army-says-dozens-of-terrorists-neutralized/a-60607325

Exactly, more spoof and bluster from the FED to keep the game going for a bit longer!
Thank you Cowichan!

For those seeking a long-short idea for the new year, we
would like to suggest going long on Centamin and short on
Endeavour Mining.
This morning, we published a revamped on the basis of which we have
upgraded our rating to BUY and set a new Target Price of
106p, implying 22% upside (previously: SELL, 86p). In
contrast, our existing Endeavour Mining target price of
1316p has 15% downside. We therefore downgrade our
Endeavour recommendation to SELL (from HOLD).
The case for buying Centamin
We have revamped our Centamin model following the Sukari Life-of-Asset
(LOA) Phase 2 review (A time to buy, 7 January 2022). To go with our existing
Base Case, we now add an Upside Case, which provides an indication as to
the potential value-add from Centamin’s Underground (UG) Expansion Case
(on which the company should complete a study in H2’22) and the bonanza
structure at Bast.
Our model suggests that the current share price is effectively pricing in the
Centamin’s Sukari Interim Case which, it has to be said, does include a
generous amount of upside (e.g. it assumes a significant amount of
underground Resource Conversion).
However, we feel reasonably confident that the UG Expansion Study will have
a positive outcome that is similar to, or better than, that currently presented
by Centamin. There is also the mouth-watering prospect of bonanza
structures being brought into the mine plan: we see the Bast structure turbo-
charging 2023 production, followed by the 5105 structure a year or two later.
Meanwhile, we were previously projecting relatively modest dividend yields of
c.2.2-2.6%. Whilst we still expect that for 2022 to be c.2.2%, our Upside
Case is indicating attractive yields of 3.2% in 2023 and 3.8% in 2024 –
despite that we expect the price of gold to be trending down towards
US$1,600/oz over that period.
With the froth now off, and potential for multiple exploration-related catalysts
during 2022 (in particular, we will be eagerly awaiting the results of the Sukari
airborne survey), we believe now to be the right time to reverse our call,
upgrading it to BUY.

The case for selling Endeavour
As we noted in our initiation report (Ambitious, nimble West African gorilla is
currently fully valued, 15 December 2021), there is much to commend about
Endeavour. The company has an established track record at meeting
guidance, while committed minimum dividends and share buybacks make for
attractive indicative shareholder returns.
However, these all appear to be priced in: the market appears to be valuing
Endeavour - including upside potential - using a long-term gold price of
c.US$1,715/oz, or a low discount rate of c.5% (despite the difficult
geographies in which the company operates).
Meanwhile, Endeavour is currently relatively low-cost, but we will be watching
in 2022 to see just how well it is able to contain the inflationary pressures that
are being experienced in the mining industry globally. Margins could be
further pressured if the gold price trends down as we forecast.
In such a scenario, Endeavour’s committed minimum dividends could appear
increasingly attractive, particularly if the company maintains (or ups) the
tempo of share buybacks. However, a gold price downtrend could stymie
Endeavour’s hopes of joining the FTSE 100, particularly if the FTSE 100
trends up (Liberum’s strategy analysts are forecasting a 15-20% rise in that
index during 2022).
The short of it is that we see only a slim chance of FTSE 100 inclusion in the
near term, and our expectation is that this will offset the attractions of the
shareholder returns policy. Whilst there are a number of potential upside
catalysts during 2022 (e.g. DFS results for two key projects are to be released
in early 2022), these are relatively minor in the grand scheme of things. For
these reasons, we initiated with a HOLD rating.
Our Target Price for Endeavour of 1316p implies 15% downside, the
unattractiveness of which is magnified when set against the 22% upside to
our new Centamin target. We therefore downgrade Endeavour to SELL.

Hi Cowichan,
You may be familiar with the saying *"If the cap fits then wear it!" which in my opinion certainly applies in the case our Jersey based BOD & NED's, a clear case of them failing to carry out due diligence!
To allow the accumulation of $350 million of waste at Sukari over several years and and then claim they were unaware only when the wall in the the open pit was declared as such a serious safety hazard it put normal production into limp made for an as yet undermined time, can only be described as a deliberate or accidental failure to do what they should have done as part of their job!
The BOD & NED's should safeguard the company and share holders investments by ensuring Centamin"s assets (mines/reserves ) are managed as effectively and properly as possible and by rewarding the prudence and innovation of those managing them on a day to day basis, but not by rewarding them for spoofing and corner cutting for short term excessive gain, and then when the cracks in the plan are exposed allow those responsible to walk away with their unjustifiable rewards whilst the consequences are dumped onto the shareholders!
i would be delighted to express my feelings the board face to face should they wish to meet with me!

*(If the cap fits is the shortened version of the idiom if the cap fits, wear it. It carries the same meaning as if the shoe fits, wear it. It is used to convince someone to accept the legitimacy of a criticism sent their way, or the truth of a description about themselves. If the cap fits, wear it is primarily a British phrase first seen in the late 1500s. The phrase has remained the same in Britain, but in its transition to the United States the idiom became if the shoe fits, wear it.)

Hi Mr Bond,
That is the corporate policy at the present.

Hi Mr Bond,
That is corporate poliicy at the present.

Hi Cowichan,
Considering the recent disclosures and admissions you raise some very fair points of constructive criticism on which it I would be interesting to hear how other serious investors ,rather than short term traders feel.
That said possibly some the other members will take your post as a starting point to add any thoughts or opinions they may have
Who knows Martin Horgan and the BOD might get to see them and it would offer them an opportunity to demonstrate their commitment to their stated investor communication policy in practice by responding in some way.

At a time like this it a make make sense to reduce the number of shares in circulation and boost the share price, this would make the company more expensive for any hostile takeover or predator or to acquire rather at a knock down price whilst the Sukari clearance is taking place.
There has been quite enough drilling and then sitting on results in West Africa for the present and exploration drilling is already underway in Eygpt.
Had more money and resources been spent in the past on managing the Sukari operations properly then the Sukari output would have been nearer to the 500,000 oz with lower AISC and a share price of over £2 even with POG at these levels.
The investment situation in Eygpt has changed by offering new resource prospects that may be opened up and considering the already as yet non producing West African reserves then it makes no sense to start on other projects, this is where so many other miners seem to go wrong spending shed loads of investors money without actually returning much or anything at all to them apart from unfulfilled promises.
Get the engine room (Sukari)back up to speed as a the priority and the rest will follow.

Hi Cowichan,
Fair comments, I don't like the holding and influence BlackRock has the world over it is an insidious, parasitical evil organization , BlackRock wanted Angela Merkel Former German chancellor out because she wouldn't tow their line and now they have their choice as German chancellor https://www.dw.com/en/who-is-friedrich-merz-the-new-head-of-germanys-cdu/a-56247517
https://www.handelsblatt.com/english/exclusive-exclusive-former-top-german-politician-to-join-blackrock-supervisory-board/23533144.html
BlackRock have heir tentacles in the present and former UK Tory governments
Can Chancellor George Osborne find a day a week in his busy schedule to work for BlackRock, the world’s largest fund manager. At £650,000 a year, or £13,000 a day, it sounds a more lucrative gig than editing the London Evening Standard on the other four weekdays. The former chancellor may also be given shares in the US firm, so we do not know if the salary is the starter or the main course.
At his peak, Osborne held as many as nine jobs at once. It is not clear how many of these positions he will give up in total ahead of his move!
https://citywire.com/wealth-manager/news/george-osborne-quits-blackrock-role-for-manda-boutique/a1458845?section=wealth-manager
Robey Warshaw was founded in 2013 by a trio of leading investment bankers, who made their names at Morgan Stanley and UBS.
Also the E Raghys were keen to establish and enthusiastic supporters of the present dividend policy.
You see government's don't really run the world it's those that run the funds,the banks, big business and those who manipulte the markets who control things, and they don't want change despite what went on at the recent climate conferences, Big Money wants the little people to keep propping up the corrupt and unfit for purpose monetary system!
The Yank's big funds and businesses don't want the gas pipeline between Russia and Europe it doesn't fit in with their plan to keep us all subservient to the American way!
So you may well be on the right track!

Before some criticise, please remember this was recorded on Tuesday 25th Jan 2022 so prior to FED statement, however the presentation does explain why POG is being hammered prior to ETF options settlement day on 31st Jan 2022!

28 Jan 2022
The two main reasons behind the current bullish shift in gold and silver and elaborates further on the fragile ETF flywheel, with gold set to rally.
The precious metals expert continues to monitor the influence of Basel III on the markets and explains the mechanisms behind futures market backwardation in response to ever-tightening physical supply.

00:00 Start
02:00 January 2022 Summarised
09:00 Andrew’s thoughts on COMEX and BIS OpEx expiry
12:50 Is Basel III still a positive influence?
15:35 Silver opportunities - almost too good to be true!
23:45 Andrew elaborates on ETFs
29:30 Bank of America’s naked short silver futures position
https://www.youtube.com/watch?v=t2JDNKaddMk&list=PLE1y8hGSqr8ar1gKUdfqFDK5ygLIlrdmz&index=1
The opinions expressed in this video of Andrew Maguire and any guest.

Look at the technical reports the last report is dated December 2021.
https://thorexpl.com/site/assets/files/2546/thorexpl_corporate_jan_2022_1.pdf
The authors are an unknown firm from Senegal?
More concerning, the report takes the definition of what is mineable to Mineral Resources, not Mineral Reserves?
They also do not even provide an economic assessment at PEA or scoping study level?
This is high risk
The mineralisation is in veins associated with a shear zone.
Nowhere do they clearly discuss width of veins and only one cross section is provided?
As you can see, the interpretation shows strong pinching and swelling. Without more cross sections, I find it difficult to gauge how reasonable the interpretation is.
The reported grade (production lower than resource grade pointing to dilution at 5% being clearly underestimated) is attractive for an open pit, but no indication at what strip ratio this is?
In conclusion small scale firm which is POSSIBLY mining an attractive deposit, although It is impossible to determine this from the available info?
Note -from the last financials that the net working capital is very negative, they have debt and have sold a metal stream?

https://www.lse.co.uk/SharePrice.asp?shareprice=THX&share=Thor-Explor

Hi Chique,
Thank you, I have asked an analyst friend of mine what knows about this project
From the presentation bullet point below it seems quite tempting considering the difficulties they had to contend with last year, although I am no expert!
Key points
Thor explorations AISC $ 900 100,000 ozs @Head Grade 3.5 4.00gms per ton

Tibbs

Hi Gnome,
Is Pardey or any of the Elraghy family on the BOD?
Bidding started at $100 and has now made its way up to nearly $36,000. Cleese won’t let his masterpiece go for that cheap, though. Cleese said he wants $69.3 million for the piece, suggesting the illustration won’t sell unless someone bids at least that much.
https://www.theverge.com/2021/3/22/22344556/john-cleese-monty-python-nft-brooklyn-bridge

Tibbs

You mention a goldie with an AISC of 680 and production of 85k oz , which to me somewhat cushioned any fall in gold price?

Central Banking
Powell presser

If you thought the press conference of Jay Powell would provide some clarity for the markets... guess again. Stocks initially rallied Wednesday, but ended the day lower, and futures sold off heavily overnight, only to pare much of their losses. Meanwhile, the yield curve shrank to the flattest since 2020 following the FOMC meeting, with two-year Treasuries extending declines today even as 10-year notes rebounded.

Quote: "This is going to be a year in which we move steadily away from the very highly accommodative monetary policy that we put in place to deal with the economic effects of the pandemic," Powell declared. "I would say that the committee is of a mind to raise the federal funds rate at the March meeting, assuming conditions are appropriate for doing so. I don't think it's possible to say exactly how this is going to go, and we're going to need to be, as I've mentioned, nimble about this so that we can respond to the full range of plausible outcomes."

The hawkish pivot, coupled with uncertainty, comes as red-hot inflation plagues the economy with an annual rate of 7% seen in December. The central bank also approved one final round of asset purchases, bringing an end to its pandemic-era bond-buying in March. There will be additional discussions about reducing the Fed's nearly $9T balance sheet, which will be "led by the incoming data and evolving outlook."

What's in the cards? Following the press conference, futures betting markets showed an 86% chance of a 25 basis point hike for the March FOMC meeting, while 14% predicted a 50 bps increase (a half-point hike hasn't occurred since May 2000). "Powell said that the Fed's focus has always been on the underlying economy, and a byproduct of that has been inflated asset prices," noted Max Gokhman, chief investment officer at AlphaTrAI. "But now that inflation is here and real while labor markets have slack, it's time to focus on fighting that fire, and if that burns euphoric bulls then so be it."

Facebook's (FB) grand plan to bring cryptocurrency, or more specifically stablecoins, to the social network's billions of users has reportedly gone up in smoke. The idea was to have money spent, transferred and paid across its platform just "as easily as sending a text message" and could even bring financial services to many of the world's underbanked citizens. While the company initially hoped to peg the asset to a basket of currencies, which used distributed ledger technology, it eventually narrowed its focus to one-for-one to the dollar to reduce volatility.

Backdrop: Facebook founded the Libra project, now known as the Diem Association, back in 2019, though the initiative immediately struggled to get off the ground. As regulatory scrutiny picked up across the globe, many founding members pulled out of the endeavor including PayPal (PYPL), eBay (EBAY), Stripe, Visa (V) and Mastercard (MA). Policymakers cited existing privacy concerns about how Facebook handles user information, and they saw the potential for the new scheme to enable crime, money laundering and erode their control over the monetary system.

Last October, Facebook (should we be saying Meta?) finally launched a "small pilot" to test its crypto wallet Novi, but without its planned cryptocurrency called Diem (it used a different stablecoin called the Pax Dollar instead). Criticism from lawmakers immediately erupted, while David Marcus, the founder of Diem, subsequently left the company. The project also attempted to shift its operations from Switzerland to the U.S. - with crypto-focused bank Silvergate Capital becoming the exclusive issuer of Diem - though the Federal Reserve "dealt the effort a final blow."

Outlook: Meta currently owns about a third of the Diem venture, with the rest retained by venture capital firms and tech players that are members of the association. While discussions are still in the early stages, Bloomberg reports that Diem's intellectual property might be sold to in order to return capital to its investor members. The association is also looking out for a new employer that could take on the "engineers who developed the technology, and cash out the value left in the project."