As most of us already know, Siko works really hard to help the poorest and deprived children in Egypt. Any money that he made from investing in Centamin went to help these vulnerable kids.
He is a vey kind and decent man who worked incredibly hard over the years to find out accurate information that has helped all of us despite the recent drop make a lot of money. Even though he had spent hours and hours finding information for us he felt uncomfortable mentioning his charity work. But i don't mind mentioning it. If anyone could help Siko's work and give something back to someone who has helped so many of us then here's the link. https://www.gofundme.com/2dj3maew
Over the past 7 quarters ending in Q3’17, GDX’s top-34 gold miners reported average AISC of $866.
In 2017 gold averaged $1258 per ounce, so the major gold miners were collectively earning profits of $393 per ounce. That equates to hefty 31% profit margins, levels most industries would die for.
The gold miners’ stocks are now priced as if this industry was operating at massive cashflow losses with its very future viability called into question. Yet obviously that isn’t the case, as the gold miners are generating big positive cashflows and profits today.
The only explanation for this epic fundamental anomaly is extreme sentiment, which never lasts for long. Because the stock markets soared in taxphoria last year, investors shunned gold and everything related to it. Thus the gold stocks fell deeply out of favor, universally ignored if not scorned. When that weird psychology inevitably shifts, the beaten-down gold stocks are going to stage a massive catch-up upleg. Sooner or later the markets will wake up to these cash machines.
I was surprised to hear that the 4th crusher has only just been finished and is now being commissioned. I thought that it was completed last year? Still at least there will be 4 crushers now operational for the next 3 quarter's which should improve through put by 20 to 25% and also allow for routine maintenance on the 3 older crushers.
RE: Close to a gold price reset??29 Mar 2018 13:19
Hi sparkle, there's a similar podcast on USA watchdog.https://youtu.be/FPXXuZKD654 It all looks very promising. It can sometimes get a little demoralising watching the sp just going nowhere, so article's like these lifts the spirit and helps me keep the faith. I know that I've backed the right horse but waiting for the race to start is frustrating.
I'm probably putting 2 + 2 and getting 6 but in the last RNS they mentioned exploratory developments in the desputed 160km area. Now I know that the whole legal battle is just a farce but it has had the effect of stopping all exploratory work in the 160km area until now? So what's changed to enable them to make this statement?
Funny that you should mention mummy's, as during the recent discovery of a 4000 year old tomb, acuolagist's found Among the artefacts discoverd inside, painted wooden funerary masks, clay vessels, about 450 statues and a mummy wrapped in linen who was holding a parchment relating to the expected commissioners report and law 32 ! No point rushing thing's is there.
Quite right Mr T. The best bit is thst the 20yrs mine life and resources are for the 3km sukari plant only, who knows what is underground over the garden fence in the extended 160km . The legal problem over the extended 160km is nothing but a joke and will eventually be resolved, but it must be getting a bit embarrassing now for the government even by Egyptian standards as to the time it's taking.
This is Purley my suspicious mind working here, but for the management to be resuming plans for exploration in the disputed 160km area have they had the nod nod, wink wink, regarding a more favourable report from the commissioners who have had since summer last year to reconsider law 32 .?
As far as my understanding goes all court hearings are now suspended due to law 32. Although law 32 has not been rubber stamped, it remains in force until it is revoked or approved sadly trapping our case in legal limbo.