Member Info for mrtibbles

old and silver prices are weaker in midday early U.S. trading Thursday, on profit-taking and corrective pullbacks after both metals scored five-week highs Wednesday. Veteran market watchers would deem the pauses as being actually healthy for the fledling price uptrends in gold and silver to continue. April gold was last down $9.20 at $1,922.00 and May silver was down $0.197 at $21.685.

Global stock markets were mixed overnight. U.S. stock indexes are higher at midday. The marketplace has been at least temporarily assuaged by news the Swiss central bank has thrown its financial support behind the troubled Credit Suisse bank. Credit Suisse's CEO said his bank will continue its "strategic transformation to deliver value to our clients." Credit Suisse's stock price jumped 20% Thursday. However, many long-time market watchers are "waiting for the next shoe to drop" in the banking crisis. Rumblings in the marketplace say Republic Bank might be the next domino.

The European Central Bank met Thursday and raised its main interest rate by 50 basis points. The marketplace took the ECB move in stride, as least initially. The Federal Reserve's FOMC meets next week and there is a hot debate in the marketplace regarding whether the Fed will raise its main interest rate by 25 basis points, or stand pat amid the U.S. and European banking crises. There appear to be valid arguments for both sides, but the ECB rate hike today seems to give the Fed the green light to hike by 25 basis points.
https://www.kitco.com/news/2023-03-16/Gold-silver-see-routine-profit-taking-corrective-pullbacks.html

Today's SP spanking by the market has eroded the divi !
Centamin declared a 2.5 cents per share final dividend, halved from a year earlier. It total payout for 2022 amounted to 5 cents per share, down 44% from 9 cents a year prior.
https://www.sharesmagazine.co.uk/news/market/1678958600879207000/top-news-centamin-cuts-annual-dividend-but-maintains-output-guidance

Thank you for your thoughts on this Dasut.
Shows just what a mess Sukari was in!
Hopefully they won't have to extend the waste clear up period any longer and the oil price has reduced which should hopefully help the next set of figures!

To be fair yes it was and also subject approval, possibly then we should be feel somewhat relieved it wasn't cut completely, let's hope they aren't saving that for next time if profits haven't improved sufficiently !

I agree, Somnamna, please "Get a wiggle on!"

Some may have noticed with regard to Centamin’s announcement this morning that there has been a change in the PR company of the past 14years, it appears that Centamin have decided to have a refresh and so have appointed FTI, which is alleged to have a good reputation as a communications firm.
We shall see in due course I suppose, those of us who stay that is!

Very valid points Somnamna, more l promises of jam tomorrow or the next day or sometime when, who knows!
Dividend halved again, wonder how the institutions will feel about that?

Fair comments and observations Paul!
Pardey and the ElRaghy brothers certainly tucked shareholders u!

Fair comments Paul!
As we are all too aware there were far too many missed targets and unrealistic promises from Pardey & Youssef in the past!

RIYADH, March 15 (Reuters) - The head of Credit Suisse Group's largest shareholder, Saudi National Bank (SNB) (1180.SE), said on Wednesday it would not buy more shares in the Swiss bank on regulatory grounds.
Credit Suisse's biggest backer says can't put up more cash; share down by a fifth
"We cannot because we would go above 10%. It’s a regulatory issue," SNB chairman Ammar Al Khudairy said in an interview with Reuters. The Saudi bank holds a 9.88% stake in Credit Suisse, according to Refinitiv data.
https://www.reuters.com/business/finance/credit-suisses-saudi-backer-happy-with-transformation-plan-doesnt-think-extra-2023-03-15/

Mr Bond,
Possibly some US suppression or manipulation to allow the closing and opening of trading positions to try and be on the right side of the boat?

Credit Suisse’s share slump, which fell as much as 24%, has intensified fears of a 2008 financial style crisis, according to Fawad Razaqzada, a market analyst at City Index and FOREX.com

“An index of European bank stocks fell 5%, while the Euro Stoxx 50 volatility hit its highest since October. You get the picture: investors were panicking,” said Razaqzada.

“Bloodbath, if you will. This comes fresh on the heels of a broader industry selloff following the collapse of Silicon Valley Bank. Concerns over another 2008-style financial crises have intensified.”
https://www.proactiveinvestors.co.uk/companies/news/1009062/ftse-100-lower-lloyds-and-hsbc-tumble-as-credit-suisse-shares-suspended-1009062.html

Shares of embattled bank Credit Suisse hit another all-time low for a second consecutive day.
Credit Suisse’s biggest backer, Saudi National Bank, has said it won’t provide further financial help for the bank.
Speaking to CNBC’s Hadley Gamble during a panel session in Riyadh on Wednesday morning, Credit Suisse Chairman Axel Lehmann declined to comment on whether his firm would need any sort of government assistance in the future.
https://www.cnbc.com/2023/03/15/credit-suisse-shares-slide-after-saudi-backer-rules-out-further-assistance.html

One the brokers favourites for CFD is Hoch because of its share price volatility !
Unfortunately CEY also falls into that category especially since 2015!
The thing I have come to realise if somewhat late is the majority of CEO's especially in mining companies never tell the whole truth and some just lie through their teeth!

Hi Steve,
"Consistent & reliable dividends are the hallmark of a mature, well-managed business"If only that had been the case!
Although that said, true there was some consistency in the stream of excuses, missed updates,media balcony and certainly the repeated denial of the facts along with the intentional poor mining practice at the Sukari operation from 2015 on!
Unfortunately the same consistency of value cant be claimed for the share price,the market cap or confidence in the company, and certainly not the dividends!
To be fair though disappointing RNS's have been pretty consistent since 2015!
So let's hope Martin Horgan who has inherited a huge pile of crap can deliver on his promises with at least some more reliability than the last shower of carpet baggers!

Thank you Paul for your thoughts and the link to a very relevant quote by James Stewart, if only more people would remember that!

Quite so Battk,
Glad to see that you have a rise in SP today for whatever reason, hope it continues for all long term holders!

Hi Mr Gnome, great to the point post re the stinkers that are the cause of so much that is wrong with the world!

But in the meantime there are good people the world over who are trying to do some good by showing they care about the things that really matter, I though you may care to share this in Oz?

When koala habitat is lost, koalas have nowhere to go and are forced to travel on the ground. This leads to conflict with humans, dog attacks and vehicle strikes. To help keep koalas safe from these dangers, IFAW partners with local communities, landowners, groups and volunteers to plant eucalyptus and rainforest trees that will rebuild lost koala habitat and create safe corridors for koalas to roam.
https://view.ifawnews.org/?qs=7782c4a2951bd5501467d0b8e91bec64731bde22251c63fe61717da95dc0d34778fa430a2883b768b5fba0cbd76929f2bc61d77f86a3679e018310076be64f56bb57dbfe90f89e63a84ef9a23ce20ab6

Interesting and to the point post from Mr Gnome of the CEY.L forum

It does get a bit hard to stomach the BS that gets served up to us every day, as financial wisdom by financial gurus. The world finance is dominated by non-physical trades done by computers now mostly, which bring no benefit to society as a whole, no benefit to anyone but the owners of the "traders". Bull$hit trades is a term that springs to mind. It s a little like a hybrid of what David Graeber called, Bul$hit jobs. [A bull$hit job or pseudowork is meaningless or unnecessary wage labour which the worker is obliged to pretend to have a purpose.]

We are well past the post on meaningless financial trades of "hybrids and derivative nothings" to stabilise "the system and better manage risk", LOL. It is the biggest lot of *******s one can imagine, and people are given Nobel Prizes for this rubbish. The last bit of "Nobel madness" I read about was the realisation that a bank run occurs due to customer panic rather than actual insolvency on the part of the bank. Give me a break, what world do the economists live on?

I am off to my hut at the end of my world to nowhere to enjoy the sunrise!

best to all

The Gnome.

The banks and the markets are run like a casino and are ever more corrupt and self serving where trading carried out in the main by algorithmic reaction to scare mongering and panic that is just excuse to shuffle to the shares up or down until the next newsflash of yet more manipulated and in the main pointless data aimed at covering up the unfit for purpose monetary and market system.
It all started to go very wrong when this act was repealed
https://www.toptal.com/finance/investment-banking-freelancer/glass-steagall-act