Member Info for mrtibbles

Hi Steve,
Its possible to pay bills with Kinesis and earn interest on your spending,the Kinesis system can also be used to send gold across the globe in seconds with minimal transaction costs.
However because the card has a bank account attached to it, it offers cardholders the functionality of a debit card, including payments, deposits and transfers as well as cash withdrawals. People can also be paid salaries directly into their Kinesis account and, using the Kinesis Money system, users can store their assets in gold and convert it to cash in seconds when needed. It can receive top ups of up to $20,000 as opposed to the $500 for the virtual card. This can all be managed in the newly redesigned interface of the Kinesis online and mobile platforms.
The new banking functionality of the system can also facilitate financial inclusion. People can often lose their bank accounts because of poor credit, so this provides an option for everyday financial purposes, such as paying bills, shopping and receiving funds.

https://kinesis.money/

https://renaissancemen.org/2021/07/04/kinesis-money-honest-review-incredible-company-promise-with-some-growing-pains-being-worked-on/

So it seems seems an individual or company could be earning around 7% interest on some of their spare cash if held in gold bullion in the Kinesis audited Swiss vaults with instant access to their funds, they could also be earning around 0.5% on all spend via the Kinesis Visa blockchain system.

Last week's Diwali festival saw physical gold demand in India, the No.2 bullion consumer nation, jump sharply, with dealers charging a premium of up to $1.50 over official domestic prices – inclusive of the nation's 10.75% import and 3% sales levies – up from the previous week's premium of $0.50 per ounce.

"Retail demand during Dhanteras and Diwali was 25% more than the pre-pandemic level of 2019," said Amit Modak, chief executive officer at jeweller PN Gadgil and Sons.
https://www.bullionvault.com/gold-price-chart.do

Hi Don & Gnome,
Well done to you both for your perseverance on this, disgraceful/unacceptable the way that Andrew Pardey and others seem to have ignored reasonable requests for information/updates on what had been achieved by spending so much of their money on West African reserves exploration.
To say that I am dismayed and angered by the previous management's behaviour and Don's subsequent findings and disclosures is an understatement and not something I shall take lying down!

Reply from Centamin
The solar project is an excellent project – one Centamin is very excited to get built and commissioned first half of next year!
That being said, the water tank is unrelated. This is just a standard tank used to suppress dust and improve air quality.

Hi, The LBMA has managed to convince the BOE to allow a delay in the implementation of Basel 3 due to the effects of the pandemic, rubbish really but the BOE went along with it because it suits the City & UK government.

Europe is already complying with Basel 3
Is Basel III mandatory?

Yes, it does. The European Banking Authority announced in March 2021 that from December the Basel III monitoring exercise will become mandatory.
Internationally active banks-members are committed to implementing and applying Basel III standards within the time frame established by the Basel Committee.
This will happen in order to have a better sample size from more banking and credit institutions.
What does Basel III mean for banks’ gold reserves?

Currently, paper gold is not a 1st tier asset. Only fully allocated physical bullion that has no counterparty risk attached that qualifies as a first-tier asset. As we mentioned earlier, Basel III rules coming into effect in March through to January 22 will eliminate any valuation haircut.
https://kinesis.money/blog/basel-iii-rules/

Hi Candid,
Always glad to be able to help in some way if I am able to, unfortunately on the net you can never quite be sure if whom you are communicating with is whom they claim to be, although after so many years of holding Centamin and being a forum member I have a good idea of the genuine forum members and have also gained some friends too who I am fortunate to be in touch with by other methods.
Believe it or not Martin Horgan is well aware of retail share holders frustrations and really does value and consider their opinions far more than they may realise at present.

Tibbs

Hi Rocket,
How long have you got?
No seriously I think you may be a relatively new holder there are many changing factors over the years that have contributed to us being where we are.
Unfortunately share holders good nature and trust was thoroughly exploited by certain members of the previous management, although there comes a point (in this case a crack in the wall) exposes the true state of affairs and when the market is deceived it demands a severer retribution in the form of share price repression!
Please have a look back through some of the previous years annual reports and quarterly updates on the Centamin home page.
But on a brighter note I have great confidence in Martin Horgans new strategy and his team, so I remain very optimistic for the future!

Fair comment's Candid,
I once worked under a factory production superintendent (Lou)and sometimes on our Monday mornings reviews of the previous weeks output Lou would question certain operatives worth,( Lou kept racing pigeons)
In short if a racing pigeon isn't worth it's corn you give it another chance, if it does'nt improve you wring it's neck!
I think Lou's philosophy should apply to company directors!
Also politicians!

Hi Candid,
To be fair to Mr Bond and explain to you over the years especially when the share price is shall I say rather depressed and especially during times of attempted hostile take over's or ridiculously low broker ratings this forum has suffered from new members popping up who are suspect in their intentions , i.e.working to an agenda to discredit Cenatmin and unnerve any waiving share holders.
I fully appreciate that your trading method is not geared towards long term investment, but to buy in to a stock when the fundamentals suggest it is undervalued when the available data and market conditions suggest the strong likely hood of a sharp rise to your decided exit level.
This is possibly why you may be regarded with some suspicion by some long term holders and can only suggest to try be more sympathetic or understanding of their investment strategy.
Mr Bond is a long term holder who has always been supportive of fellow forum members and fellow share holders and is held in high regard by the majority, in short a very decent chap!

Fair comments Mr Bond, it would be ideal if we could get all/something back, although developing the mine to have it snatched by some militant group or corrupt regime so to lose even more doesn't sound an appealing or sensible option.
Assuming there is a willingness then what could be negotiated with whom and with what assurances?

I agree with Cowichan on the strategic spent $36 million exploring and developing it to its current potential and the estimated Net Present value (NPV) of $282 million at consensus gold prices is a very considerable sum and should/will I hope be taken very seriously by the present management.
Also negotiation if at all possible to recoup some/all of this would be preferable to a legal challenge.

Agreed Razor's!

That is the general general opinion amongst the UK/EU wholesale precious metals dealers, Swiss refiners already have lengthening back orders times in excess of six weeks, the big banks trading desks are now trying to unwind their short positions on the Comex and many central banks (not UK)are accumulating bullion.
Opinion is divided on how much of this is a result of Basel 3 or the worsening economies and ever increasing debt of major governments, supply chain issues, increasing wholesale energy/ commodity prices, resurgence and ongoing pandemic, so probably a combination of all of these issues and others!

Yes indeed a good news, from memory I think most of the solar plant is already costed in , so any extra cost for this kit shouldn't be too bad and pay back won't take very long.

HI Mike,
Considering how long things have taken in the Egyptian courts which is by comparison a much more stable country I would hate to hazard a guess of how long a legal challenge to the behavior of Burkina Faso politicians might take and how much it might cost, also assuming there is a court to take it on and the verdict was in Centamin's favour there is no guarantee that any compensation would ever be paid.
Sometimes although it sticks in the craw it's best not to throw more good money after bad.

Ironic that it is a Glasgow based company dealing in equipment that can reduce server rooms energy consumption by 50% !
Cops 26 venue should have installed this equipment to cope with the hot air Boris produces!

Fri, 5th Nov 2021 21:00
Alliance News

Iomart Group PLC - Glasgow-based cloud computing company - Says prototype of passive cooling system has been implemented in its Glasgow data centre. Test results for the new cooling system indicate the potential for an up to 50% reduction in electrical power consumption by the site's cooling system, which could help reduce the carbon footprint of the data centre industry.

Chief Executive Officer Reece Donovan says: "Data centres are essential to a more connected, digital future, but the environmental impact of the sector is something the industry has to come to terms with. Through projects like this, we are able to play an active role in taking steps towards a greener future for the tech industry. We are delighted to have already seen the potential impact of this technology at our Glasgow data centre."

Current stock price: 159.20 pence

Year-to-date change: down 50%

AIM - LOSERS

Iomart Group PLC, down 16% at 181.60p, 12-month range 80.74p-359.91p. The cloud computing firm says it expects its annual results to be below expectations. Iomart says the majority of the customer base has remained stable, however, the slightly higher-than-usual customer churn seen in the final months of its financial year that ended March 31 continued into the first half of its current financial year. In addition, non-recurring revenue, principally hardware reselling and one-off consultancy activity, is GBP2.0 million lower year-on-year in the first half, and the company does not expect this revenue to recover during the second half. As a result, Iomart anticipates results for the full year to March 31, 2022, to be below current expectations.

By Arvind Bhunjun; arvindbhunjun@alliancenews.com

Copyright 2021 Alliance News Limited. All Rights Reserved.

Hi Cowichan, one must ask the question if it were ever a wise choice to start drilling there in the first place?
But what real hope is there of any compensation for Centamin & share holders and who to take the case up with?
That is assuming Centamin has a sound legal case and the will to pursue it?
In contrast to its counterparts in Burkina Faso and Niger, Mali’s political class is doing the bare minimum to respond to the conflict. Though the government faces some domestic pressure to address insecurity, it may believe there is an unacceptable political cost to doing more.https://www.lse.co.uk/ShareChat.asp?ShareTicker=CEY&share=Centamin-PLC&thread=D6A39695-AA52-4575-9A39-D06DD32AB6F6&reply=true
2019 was a deeply concerning year for the Sahel. Attacks by extremist groups have increased five-fold in Mali, Niger and Burkina Faso since 2016, with the UN now describing the violence as “unprecedented”.
https://ti-defence.org/sahel-conflict-boko-haram-mali-niger-burkina-faso-defence-corruption/
Burkina Faso is trying to overcome a legacy of bad governance and corruption. Bribery and bureaucratic corruption are widespread, permeating all sectors of society and affecting the daily lives of Burkinabés.
https://knowledgehub.transparency.org/helpdesk/burkina-faso-overview-of-corruption-and-anti-corruption
Corruption in African countries is hindering economic, political and social development. It is a major barrier to economic growth, good governance and basic freedoms, such as freedom of speech or citizens’ right to hold governments to account.
https://www.transparency.org/en/news/citizens-speak-out-about-corruption-in-africa
Burkina Faso has made important progress in improving the business climate, including improving business registration, strengthening land property laws, and establishing commercial courts. Despite the progress made, Burkina Faso still only ranks as number 151 out of 183 countries on the World Bank’s Doing Business Index (2011).
https://um.dk/en/danida-en/strategies%20and%20priorities/country-policies/burkina-faso/key-challenges-opportunities-and-risks-in-burkina-faso/
The representative of Burkina Faso, providing context for how important support from the United Nations has been, welcomed its efforts to strengthen judicial institutions, promote good governance and increase access to justice in his country and others. Despite the security crisis Burkina Faso has been facing since 2015, its commitment to pursuing the rule of law has only grown stronger. He called for the United Nations to continue supporting the development of the rule of law, “a bellwether of sustainable development and peace”.
https://www.un.org/press/en/2020/gal3621.doc.htm

sorry that was the opinion at 1121 Fri
Updated today at 1224
Stocks rallied to fresh record highs Friday following a stronger than expected jobs report that showed 531,000 jobs added in October and a revised gain of 312,000 in September. All three major market indexes closed at new all-time highs, even after a late drop in tech stocks weighed on the final Nasdaq number. Pfizer said interim data showed its COVID-19 pill reduced the risk of hospitalization or death by 89%, which boosted classic reopening plays such as airlines and cruise ships. And positive momentum carried over from the Fed's signal this week that inflation is "transitory" and likely would not require a fast rise in interest rates. For the week, the S&P 500 gained 2%, pushing its year-to-date gains to 25%, the Dow added 1.4%, and the Nasdaq rallied 3.1% for its best weekly showing since April.
Stocks rallied to fresh record highs Friday following a stronger than expected jobs report that showed 531,000 jobs added in October and a revised gain of 312,000 in September. All three major market indexes closed at new all-time highs, even after a late drop in tech stocks weighed on the final Nasdaq number. Pfizer said interim data showed its COVID-19 pill reduced the risk of hospitalization or death by 89%, which boosted classic reopening plays such as airlines and cruise ships. And positive momentum carried over from the Fed's signal this week that inflation is "transitory" and likely would not require a fast rise in interest rates. For the week, the S&P 500 gained 2%, pushing its year-to-date gains to 25%, the Dow added 1.4%, and the Nasdaq rallied 3.1% for its best weekly showing since April.

It's been a long week of economic data, high-profile events and Q3 earnings, but there's one more to go before it comes to a close. The Labor Department will report the latest numbers on job growth this morning, with the figures set for release at 8:30 a.m. ET. Headwinds like the summer surge in COVID-19 infections are hoped to have subsided, giving more evidence that economic activity regained some momentum early in Q4, though seasonal hiring and worker shortages have been wild cards, weighing on recent reports.

Snapshot: Consensus estimates call for 450K jobs added in October, though September's report totaled 194K additional jobs, far short of a forecast of 500K. The unemployment rate is expected to tick down to 4.7% from 4.8%, while hourly wages are expected to climb by 4.9% on a year-over-year basis. That last number will be especially important for investors, given that the market is hyper-focused on inflation and whether it will continue to run hotter than expected.

"[The] payrolls numbers become even more significant, as it is the first full month of hiring following the expiration of federal enhanced unemployment benefits, while public health has simultaneously improved and labor demand has remained strong," noted Chris Hussey, managing director at Goldman Sachs.

Outlook: If job reports over the next few months point to stronger hiring, the Fed could accelerate its newly announced tapering plans. On the flip side, the central bank's announcement this week put markets on high alert for inflation, meaning it will be more sensitive to economic reports in the near-term. The ADP National Employment Report already showed an acceleration in private payrolls on Wednesday, while the number of Americans filing new claims for unemployment benefits has remained under 300K for four straight weeks.

This week, Andrew Maguire reveals that India, the US and a major bank are all stockpiling physical silver at levels not seen since March 2020, in the lead up to silver’s memorable rally.
With the BIS up to their usual tricks around Options Expiry, the precious metals expert explains recent volatility and gives a short-term forecast for the fortnight ahead.
https://www.youtube.com/watch?v=ZrOi_KaLoqU
00:00 Start
01:00 BIS Options Expiry Gold Price Volatility
12:33 Short-term gold and silver forecast
17:15 Huge Silver Demand from India and Major UK Bank
25:00 Turkish Gold Demand Empties EU Bank Sources