Member Info for mrtibbles

Hi Minecheck,
I had a look on here out of curiosity after the events of last weekend and Iif I am honest to encourage others to be on their guard, I'm afraid I lost my trust in banks to such an extent as a result of the last financial meltdown that I would never trust them again.
Debt against assets may in theory seem OK, but that depends on the assets and I fail to see that the City of London is a great place to invest after Brexit the UK is fast becoming more like an irrelevant backwater.
I recall selling out of Stan.L at over £21 and they where paying a decent divi, look at them now, what a joke!
I appreciator that others have their own opinions, but they may like to check some of what is being said in the media on.
https://fullfact.org/
https://positivemoney.org/
https://www.electoral-reform.org.uk/

Also n this week’s Live from the Vault, Andrew Maguire studies the aftermath of the Federal Reserve borrowing over 100 tons of physical gold from the BIS to sell it into the market, in an attempt to push back against the rising price of the precious metal.
https://www.youtube.com/watch?v=2inKxSXz0Z4

Anyone interested in investing in a gold miner paying a dividend might care to take a look at CEY.L

Cheers for now!
Tibbs

I once held HSBC, if I still held now then I would be very concerned by this takeover of the arm of a failed US bank specialising in lending to companies overstretching themselves in the hope that things will come good someday!
Royal Bank of Scotland was not alone in being shabby, reckless, greedy, dysfunctional and corrupt during the build-up to the crisis. Nor in its aftermath.
https://sceptical.scot/2018/10/guilty-men-rbs-shredded-part-three/
I also once held both Lloyds & RBS and neither bank has ever recovered, this is a bad move instigated by the inner circle of government that will also will likely end up costing HSBC share holders dearly!
https://www.thisismoney.co.uk/money/markets/article-6169589/Fred-Shred-line-17m-pension.html

I once held HSBC, if I still held now then I would be very concerned by this takeover of the arm of a failed US bank specialising in lending to companies overstretching themselves in the hope that things will come good someday!
Royal Bank of Scotland was not alone in being shabby, reckless, greedy, dysfunctional and corrupt during the build-up to the crisis. Nor in its aftermath.
https://sceptical.scot/2018/10/guilty-men-rbs-shredded-part-three/
I also once held both Lloyds & RBS and neither bank has ever recovered, this is a bad move instigated by the inner circle of government that will also will likely end up costing HSBC share holders dearly!
https://www.thisismoney.co.uk/money/markets/article-6169589/Fred-Shred-line-17m-pension.html

The Federal Reserve, Federal Deposit Insurance Corporation (FDIC) and U.S. Treasury announced the New York-based bank’s closure under a “systemic risk exception” Sunday (March 12) evening, two days after the collapse of Silicon Valley Bank.
According to the statement, Signature Bank was closed Sunday by the New York Department of Financial Services (NYDFS), which turned over control to the FDIC.
“All depositors of this institution will be made whole. As with the resolution of Silicon Valley Bank, no losses will be borne by the taxpayer,” the statement said.
https://www.pymnts.com/news/banking/2023/signature-bank-shut-down-and-placed-under-fdic-control/

NEW YORK (AP) — President Joe Biden on Monday told Americans the nation’s financial systems were safe, seeking to project calm following the swift and stunning collapse of two banks that prompted fears of a broader upheaval.
“Your deposits will be there when you need them,” he said.
U.S. regulators closed the Silicon Valley Bank on Friday after it experienced a traditional bank run, where depositors rushed to withdraw their funds all at once. It is the second largest bank failure in U.S. history, behind only the 2008 failure of Washington Mutual. But the financial bloodletting was swift; New York-based Signature Bank also failed.
The president, speaking from the White House shortly before a trip to the West Coast, said he’d seek to hold those responsible accountable, and pressed for better oversight and regulation of larger banks. And he promised no losses would be borne by taxpayers.
https://apnews.com/article/silicon-valley-bank-uk-bailout-hsbc-sale-4d2da0e9c6f39c0fd8faf321a2b295cf

Never mind Mr Bond,it was still good of you to flag up the news!

Pensions: why do those retiring face ‘massive’ losses despite FTSE highs?
Laith Khalaf of the investment firm AJ Bell – who a year ago warned about the risks of pension savers sleepwalking into a disaster – says: “Unfortunately, bonds were inflated into a big bubble by years of low interest rates and QE, which went pop when inflation returned and interest rates climbed.”
https://www.theguardian.com/money/2023/mar/11/pensions-retiring-losses-ftse-aviva-value

Canadian mining giant Barrick Gold is responsible for poisoning an Argentinian community’s water supply five times in the last seven years.!
https://actions.sumofus.org/a/shutdown-veladero-mine?sp_ref=796250259.99.225704.e.0.2&referring_akid=119723.3436857.BG3o6H&referring_source=fwd&source=mlt

Hi Dasut, yes good points, although I suppose at la east a reliable water supply (albeit salty) was more easily available than at the other location.

Thank you Mr Bond, although I cant say this is what they were talking about,

Aton’s 100% owned Abu Marawat Concession is located in the Central Eastern Desert of Egypt, approximately 200km north of Centamin’s Sukari gold mine. Aton has identified numerous gold occurrences throughout the entirety of the concession area, including the Hamama deposit in the west and the Abu Marawat polymetallic deposit in the north east.
https://atonresources.com/projects/abu-marawat-concession/overview/
https://atonresources.com/investors/overview/
https://atonresources.com/news/2022/aton-provides-corporate-update-on-its-abu-marawat-concession-agreement/
https://atonresources.com/about/aton/
https://atonresources.com/about/management/management-team/
The Rodruin project was discovered by the Aton team,
https://www.mining.com/aton-outlines-plan-to-build-egypts-second-gold-mine/

10 Mar 2023
The Federal Reserve borrowed over 100 tons of physical gold from the BIS to sell it into the market, in an attempt to push back against the rising price of the precious metal.
https://www.youtube.com/watch?v=2inKxSXz0Z4&t=7s

Hi Cowichan & Dasut,
Opinion of an experienced mining analyst -

About higher production in 2023 despite higher grade, some of the open pit mine production is stockpiled with higher grade sent to the mill. In other words, the mill will treat only slightly lower grade as is shown in the graph for processing plant production.
From the graph I cannot determine the exact strip ratios in each year, but it is clear that this is substantially higher in years 2022-2024. So yes, until 2025 the outlook is for lower cash flow from open pit production.
I always considered the underground mine production as the greatest contributor to net free cash flow!
In this respect the drop in grade until 2025 will be a brake on cash flow. They seem to want to compensate this through higher output and cost reduction.

Thank you Mr Bond, I also seem to recall you referring to this subject in the past, so then if you are sure that Sami refused the other richer reserve option then you likely have a good idea of why and also the location of these reserves, if not then how can you be so certain?

Hi Dasut,
Thank you for that input, I thought you may have sone idea considering your professional insolvent from the early Sukari days, I really have no idea as to the accuracy of the claims, or the location of these rich reserves from two separate sources, both parties have been involved with Centamin for well over a decade ,one at corporate level and the other in the services related drilling industry
However that said I agree with your opinion that Sami and Centamin must know the location of these reserves, although how they would overcome cope with the associated distances and lack of easy water access remains very relevant I would assume?

Thank you Cowichan for broaching the thorny and issue of "Strip ratio's" and indeed to Dasut for the knowledgable based on experience but logical explanation.
I appreciate that I am going over old ground, but I was led to believe that Sukari never was the first choice location for developing a mine, there was another much richer unexploited reserve further afield , however unfortunately the down side was that it was much further away from easy access to water, so it was decided to go for the easist option Sukari.
The down side with Sukari now seems pretty obvious now although it was concealed from the market and share holders holders, Sukari has always been plagued by the the poorer grades in the open pit, Cleopatra slope,etc has been disappointing to say the least and a then the ongoing since 2015 reluctance by Pardey to openly acknowledge the low grade qualities problems and to combat them or compensate for them with a proper development of the underground resources where much higher grades were located, this was highlighted when the sole LHDR self destructed in 2018!
The "Bonanza Underground Grades" which are hopefully are as good as claimed are now ever more absolutely essential to contribute to the recovery we are still all awaiting!

Hi Prof,
Thank you for that!

Thank you Somnamna, I think the majority of share holders will agree with you!

Although several years have passed little seems to have improved for the ordinary people of Eygpt , raging inflation, tittle democracy despite the counties natural resources wealth (Gold), If you are able to receive it then this is an interesting documentary about some of the day to day hardships endured by the ordinary people in Eygpt!
https://www.channel5.com/show/ben-fogle-new-lives-in-the-wild/season-6/sahara-north-africa

That is the impression we were given Mr Bond, although that was dependent on no unforeseeable occurrences and as we haven't been informed of any as yet then I suppose its a case of "No news is good news!", or keeping our fingers crossed that there won't be any last minute disappointing RNS's announcements in our inboxes!

Absolutely agree Somnamna!

https://www.bbc.co.uk/programmes/w3ct317n
BBC journalist Rayhan Demytrie is from Uzbekistan and was recently invited back to her country to explore how after almost 30 years the government is opening up the country and it's economy.
In part two of this two part Business Daily special Rayhan hears how young entrepreneurs are pushing to grow their businesses and increase exports. Rayhan also finds out how digital only banking companies are transforming access to financial services for many Uzbek people.
In the capital city of Uzbekistan, Tashkent, Rayhan explores how the city has developed and changed in recent years and finds out more about the corruption that continues to cause problems for businesses.