Member Info for mrtibbles

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

Fair comment Mr Bond!

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

True so then Mr Henderson still has a chance of being 50% right one way or the other!

The market is wrong about no conflict escalation because the Israeli war cabinet has been looking for an excuse to wipe out the Iran nuclear capability and so the usual market data isn't that relevant in such unpredictable times of a potential war.

Still I suppose if the nuclear tipped missiles start flying back and forth there will still be someidiot traders who are out of touch with the reality who will be opening up short positions for a quick profit to enjoy in the nuclear wasteland!

Can't remember who made that comment, but possibly Mr Henderson may have some idea as to what the results my reveal?

If Martin Horgan is to regain trust tin the company strategy then some more than decent results are essential!

Cont 3

In the press, QE was generally presented as “The Bank of England prints money and lends this to banks so that they can increase their lending into the economy”, but this is completely inaccurate.

In reality, through QE the Bank of England purchased financial assets – almost exclusively government bonds – from pension funds and insurance companies. It paid for these bonds by creating new central bank reserves – the type of money that bank use to pay each other. The pension funds would sell the bonds to the Bank of England and in exchange, they would receive deposits (money) in an account at one of the major banks, say RBS. RBS would end up with the new deposit (a liability from it to the pension fund), and a new asset – central bank reserves at the Bank of England.

Quantitative Easing therefore simultaneously increased a) the amount of central bank money, which is used in the system that banks use to pay each other, and b) the amount of commercial bank money (deposits in the bank accounts of people and companies). Only the deposits can actually be spent in the real economy, as central bank reserves are just for internal use between banks and the Bank of England.

https://positivemoney.org/how-money-works/advanced/how-quantitative-easing-works/

Hi Herbie, The FED is up the creek without a paddle because their Certel members thought they could just carry on creating ever more electronic dollars and on placing huge sells of paper gold to keep the price of physical gold under the cosh and the dollar strong, they were arrogant and complacent because in the meantime the BRICS members have been lapping up the cheap gold whilst Fort Knox remains in the main devoid of that much American owned gold.

That said our BOE and thev LBMA are nearly as bad !

Cont- 2

The effectiveness of QE is extremely controversial. Indeed, our position is that it does more harm than good – and there are much better alternatives, but we are getting ahead of ourselves here. In our next post, we go into more detail on the theory behind QE, and in later posts, we show how QE doesn’t work in practice – and instead leads to more financial instability and inequality, as well as higher house prices.

It’s worth noting that QE is supposed to increase the price of financial assets, making assets holders feel wealthier – encouraging them to spend more (the so-called trickle-down effect). It’s also intended to lower interest rates in financial markets. This means lower borrowing costs, encouraging businesses to issue more debt to finance investment.

Low interest rates mean low returns for investors, and theoretically should encourage them to look for riskier, higher yielding investments. Finally, pension funds and insurance companies should buy riskier assets to replace the ones they sold to the Bank of England, all of which is intended to redirect credit and investment to businesses.

Hi 3Bear, I would go further although th general public, our politicians and indeed the majority of out financial journalists are either ignorant of or simply ignore QE is where central banks, such as the Bank of England, create new money out of nothing to buy financial assets (economic jargon for government and corporate debt in the form of bonds) from financial entities such as pension funds, insurance companies and investment banks, etc.

In the media, QE is presented as a process whereby the Bank of England prints money and lends this to banks so that they can increase their lending into the economy. But in reality, no actual physical cash is ever printed and most people (let alone banks) don’t ever see the money created via QE.

What actually happens is the Bank of England creates new digital money, central bank reserves, which are then used to predominantly buy government debt (and more recently corporate debt). From 2009 to 2012, the Bank of England created £375 billion of new money.

This programme is still on-going. In fact, more recently the Bank of England announced that it would be expanding the programme by another £70 billion, bringing the total to £445 billion. Concerned that investment and spending might drop due to the Brexit vote, the Bank of England will purchase another £60 billion worth of government debt, and £10 billion worth of corporate debt.

cont

Benjamin Netanyahu and his cabinet members won't be satisfied until they pull the US into a war with Iran!

The Israeli cabinet and opposition leaders have been meeting in Tel Aviv as Israel considers its response to Saturday's attack

https://www.bbc.co.uk/news/live/world-middle-east-68737710

Palestinian doctors tell Al Jazeera they have discovered another mass grave in the courtyard of Gaza City’s al-Shifa Hospital, recently besieged by Israeli soldiers,

https://www.aljazeera.com/news/liveblog/2024/4/15/israels-war-on-gaza-live-five-killed-in-nuseirat-as-israel-strikes-camps

I really can't understand why the USA keeps supplying and supporting Israeli Prime Minister Benjamin Netanyahu and his Zionist cabinet in their policy of genocide against the vast majority id ordinary powerless and innocent Palestinian people.

Benjamin Netanyahu and his evil cabinet members should be tried for war crimes rather the=an supplied with sophisticated arms to facilitate the complete destruction of a nation.

God bless America indeed, what hypocrisy from the US government and the bunch of right wing Zionists that rule Israel at present!

In determining how Israel may respond to the overnight attack, analysts have focused on Israel’s own attack on the Iranian consulate on April 1.

That strike, which killed two Islamic Revolutionary Guard Corps (IRGC) generals and five officers, was carried out with scant regard to Israel’s allies, who were only notified shortly ahead of the attack, according to at least one analyst Al Jazeera spoke to.

Hamidreza Azizi, a visiting fellow at SWP Berlin, outlined two scenarios, both resting upon the motivations behind the Israeli attack on the Iranian consulate.

In the first scenario, the Israeli strike occurred with little or no thought given to the consequences. In the second, the strike was a deliberate attempt to draw Iran into regional war and shift US and Western focus away from Israel’s war on Gaza and towards the regional bogeyman, Iran.

ttps://www.aljazeera.com/news/2024/4/14/what-does-israel-want-to-do-after-irans-drone-and-missile-attacks

Israel defense minister to Pentagon: No choice but to retaliate against Iran

https://www.axios.com/2024/04/15/israel-iran-attack-missiles-retaliation

15 Apr 2024

The civil war in Sudan has displaced more than eight million people, driving millions to the brink of famine and triggered waves of ethnic killings and sexual violence. We hear from people in the capital Khartoum and elsewhere in the country. We also speak to our correspondent in Port Sudan and get an analysis from our former Africa correspondent Catherine Byaruhunga.

Iran has rejected Western criticism of its attack on Israel involving hundreds of drones and missiles, insisting it had shown restraint. We answer audience questions about the weekend's attack with the help of our Chief International Correspondent Lyse Doucet and BBC World Affairs Correspondent.

Jury selection is beginning in a courtroom in New York, where Donald Trump will become the first former US president to stand trial in a criminal case.

https://www.bbc.co.uk/sounds/play/w172zbhz0f8zk34

Thank you Herbieridesaga, agree!

Katenip,

You make some very pertinent points!