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I agree with them, I bought these about 18 months ago for a bit below 8 quid, I was quite annoyed with myself for a while but recently I am feeling a bit better.
I like the SMT portfolio, allows me to get exposure to private equity investments in an easy low cost way.
Only a relatively small piece of my portfolio due to the risk level but that risk (and the corresponding return I am hoping for) is nice to have in a well balanced/diversified portfolio.
Now all they have to do is get back to their previous highs and I will be very impressed with SMT :)
The use of gold for purposes other than jewellery, bullion & coinage is around 7% of supply - this provides a more definitive indication of the productive use value of gold than long winded rants regarding its usefulness.
I have yet to see any explanation of how you can arrive at an intrinsic value of gold, is it your inability to actually explain your grandiose claims in a definitive manner what has lead you into your obfuscative ramblings?
As you are so knowledgeable on the subject Mr T, would you please educate me (and any others who wish to gain from you extensive understanding of such matters) how precisely you can arrive at an intrinsic value for gold as opposed to the other instruments you seem won’t to deride?
Mine too Steve, my ETH even provide me a 4% staking yield to further sweeten the price growth.
Crypto has been my best performing asset class over the past 5 years by a significant margin, if people actually did some real research into them instead of blindly accepting the FUD they would find some very profitable jewels in the sea of sh*t that is the world of cryptocurrency.
Oh well, each to their own :)
It is a little bit difficult to have sympathy for a nation which creates its own problems.
Your zealotic approach to moving to green energy with little or no thought for the consequences nor pitfalls combined with a complete lack of true scientific backing for the move in the first place explain a large chunk of your problems.
Add to the above your unwavering support for NATO’s aggressive expansionary policies followed up with unconscionable sanctions which have caused you to cease to have access to reasonably priced energy sources and the cause of your problems become more & more evident.
I do not like to see people suffer but you reap what you sow, hopefully the hardship the UK population endures will make it consider the consequences of its actions more carefully in the future.
Many other countries including Australia are suffering similar circumstances caused by similar stupidities - it is pleasing to see that a true groundswell against the mindless ideology that is net zero is really taking shape as a result of people having to face the consequences of idiocy.
Great thinking Mr T, instead of simply reading the financial reports released which contain all the information, let’s waste everyone’s time by asking puerile questions.
Heaven forbid we would wish them to do productive work when they could be spending their time making dim shareholders feel important because they can garner unnecessary attention.
Your helpful hints to improve Centamin’s performance are as insightful & well reasoned as always :)
The problem with gold is it has no real value, the practical uses for it are minimal and such its price is determined by market consensus which is fickle, volatile & open to manipulation.
Farm land is a productive asset which gives us food which is quite necessary for the survival of the human race (whether that is a good thing is open to debate). Accordingly the value of farm land is easy to extrapolate from its productive potential.
Although I hold gold & will continue to do so I am always mindful that it’s value is largely based on irrational human obsession with shiny things even if they have little or no real use :)
If you read my post in context and took it in before flying off the handle you would have realised that my comments were in response to Tibbs post & not yours.
I neither know nor care what you are doing but I do like bananas if you would truly like to throw a couple my way :)
You clearly have no knowledge of the full history of Centamin and the outstanding accomplishments of the company’s founders and previous management turning a piece of desert into a billion dollar mining operation.
Despite your obvious lack of knowledge you continue to repeat ill-informed and erroneous opinions based on nothing but your own misery and ill will.
Why don’t you examine your own investment principles and practices and work on improving those rather than continuously searching for scapegoats to satiate your seething rage over poor investment decisions - this course of action may well lead you to profitable investments.
For some of us longer term investors, the previous management made Centamin a hugely profitable investment for which we remain immensely grateful.
Don’t want to rub salt into the wound but I will anyway for a giggle 🥳😃
Subsequent to the arrival of western colonists in Australia the aboriginal people have moved from a harsh, subsistence lifestyle to a more modern life leading to a large increase in life expectancy, a dramatic reduction in infant mortality and access to modern health and general lifestyle conveniences that we all take for granted.
In their 60,000 years of pre-western exposure they were unable to develop any of these things for themselves.
Your criticism of Australian people as a whole simple demonstrates another example of your uninformed, ideological bigotry.
Before you insult an entire nation maybe you should at least “fact check” your assumptions as you seem so wont to do on other issues - you muppet!
Please change the tagline, Spooington is my doggies name, she is very special to me, I apologise for using her name indiscriminately purely my mistake
One may pose the same question to you, i feel I have a right to point out clear inaccuracies, if that offends you sir I will not apologise :)
Deflection & obfuscation- if you continue with this I will remove the gloves & become invective as previously advised :)
I note that you have failed to address the questions I posed to you yet continue on with your baseless rambles - why is it so ?
You are clearly a bitter & twisted individual who missed out on profits other investors realised that leaves you feeling left out - avoid using this sentiment to try to influence others - such behaviour is poor at best!
What utter baseless piffle - defend your statements in light of actual results - trying to o do so highlights your bias & sheer stupidity!
Once again you seek to avoid answering direct questions regarding your opinions and deflect attention to others.
Kees Dekker is an analyst whose motivations are not necessarily aligned with those of shareholders, to try and hold out any opinion he may express as irrefutable fact is both foolish and disingenuous.
Explain your opinions in light of the factual circumstances I have drawn your attention to or withdraw your clearly incorrect statements!
The link below is to information released by the World Gold Council.
Read the discussion of non-sustaining capex at point 5.
Then consider whether the explanations you have provided with such certainty, essentially presenting them as statements of fact, can indeed carry any validity.
www.gold.org/about-gold/gold-supply/responsible-gold/all-in-costs
If your analysis of the situation were correct Tibbs, the current waste stripping program would largely be moving material which should have already been moved as part of mining ore already processed.
If the above were correct the directors would not be able to classify the expenditures as non-sustaining capex and the auditors would not allow it.
Unless you are suggesting that the directors and auditors are colluding to commit accounting fraud, the explanation that you & supposedly Kees Dekker provide is clearly & demonstrably false!