Member Info for Tornadotony

Well the reverse takeover offer from an Armenian miner can go in the bin as far as I am concerned.

Bebold, The best time to sell a gold mining company is a booming gold market. The gold price has dropped, and opportunistic low ballers start trying it on. Trying to goose this all up is against the suggestion of Eric Zurrin's warnings in the RNS issues above. He is saying to do nothing.

Reality is beginning to strike. Eric may not be impressed.

It is in the Tanzanian newspapers and is 2 hours old and only mentions Shandong. Shangdong took Cardinal at $45 a reserve ounce. This may not be a good deal at all.

I will go through Chinese newspapers later on when I have time. I presume its recent otherwise we can't find it. The reputation of Chinese gold companies bidding for Tanzanian gold miners reminds me of Acacia. It ended badly with low balling offers.

Here we go.

https://pensana.co.uk/wp-content/uploads/2022/10/18thAnnualREConferenceVegas_Oct2022.pdf

2,100 shares taken out as short on 12th October source Benzinga. Nothing up to date from other sources. Events around 23-29th June when shares moved from 54 to 71p and then back down 71p to 55p had a relationship with moves on short covering and positioning on Ortex. Unless someone has more up to date sources, we have little to go on. Short interest may have been quite low when the price was in low 40's. Anyone taking out shorts today will not appear in data sets for a few days. Pensana has moved above resistance this morning, but we have seen this several times before.

Theo

Pensana on an annual chart has performed the same as Tesla, Ford and incidentally Rainbow rare. They are all down 25% and MKA has been a major underperformer. In fact, I am not sure why you have not written all over that MKA board. The only question I have for you is why it rose from 42p to 71p of late. If it retreats from this area, I can see the logic of throwing out a low figure. If you have bet the house on a short we shall soon see if that call is the right call. Who knows it might be or it may not. The timing of it is very interesting. Tony

Theo
I guessyou ran out of Amarone and are now facing a liquidity crisis.

You said that you had banking connections and would know how bad the current liquidity risks are. If its really bad then I certainly would not place a wager in what could be a major market event. Tony

proven reserves not resources in previous,

(early in the morning before coffee).

Pickedpeck In ground values are just 2% of revenue generated at the very most for the reasons you have given. Anyone calculating based on profits from revenue is not how in the ground prices should be calculated. Production valuations on proven resources only are at 10-12% and resources measured remain at 2%. Resources need to convert to reserves at the rate of annual depletion rates to maintain company value on that valuation element. Tony

It is important to Centamin management in running the company and its important in how you also run a country. Tonight, we have a UK Prime Minister who had good targets in mind but executed appalling methodology. I just hope we see good targets achieved and delivered by good methodology by the Centamin CEO and all his team next week.

Contrarian
If you put in some of the copper stocks on Aim and in particular those involved in rare earths which are climate protection equities, they are just like HZM, Ford and Tesla which is demonstrating economic demand destruction on a huge scale. It also suggests that the transmission mechanism to support climate change is completely breaking down under central bank inflation fighting policies. USA has delivered some limited fiscal off setting measures, but they may soon get pulled through higher interest payments on sovereign debt.

HZM on the year-to-date chart and shorter-term charts are following Tesla and Ford. They are all pulling back together. Nothing to do with TA it is a fundamental issue event caused by USA FED.

https://www.bea.gov/system/files/stgdppi2q22-a2021_0.png

Damage being done is uneven. It divides USA politically and socially.

The whole point of reshoring was partly reducing costs in the supply chain and the FED are now slamming this sector with high interest rates and a near impossibility to export to other markets. Unless they have really sophisticated analysis, they will undo all the reshoring effort and of course that will reduce job numbers what the FED wants. It, however, rapidly reduces growth and taxation income from the host Government unless they go back to tariffs. The FED is in a hopeless trap whatever they do the results are bad as they created the original problem to start with and did not adjust it to on-going fiscal policy at that time. (The relevance of all this is that it hits gold and so hits centamin until the whole thing blows up and the FED cannot stay on their hawkish path. Basically, when USA economy has gone through the windscreen or jumped off a skyscraper). Tony

USA is a huge country. Some States are seriously getting into recession with serious price falls and other parts are seeing very high inflation. For example, parts of Illinois and Texas are seeing rent rises of 40-45% and Missouri in between has fallen by 39%. Oregon is highly inflationary, but parts of California are now seeing serious price falls. The data is one just number, but the FED has a major problem. One size does not fit all and to reduce very hot inflation in about 10 USA States they need to damage another 20 in deep trouble already. A number of States are seeing inflationary pressure between the extremes. How a pool of 2000 to 4000 points is used to give the figure may well be disturbed by certain areas that are undertaking work that was previously done overseas.

Good job it was a tiny first buy that will eventually get averaged down. Thought it might get lower, but having skin in the game gives a feel how bigger gold miners perform against much smaller companies.

The FED cannot build houses, they cannot control rent prices and somehow higher rates putting up housing costs will help. They are in a stagflation trap. We have confirmation after 350 base points of hiking. Before Covid 19, USA salaries were 67% higher than the UK. It has now reached 250%. Of course, increased productivity State side may justify some of it. For someone in Eastern Europe like Latvia, USA worker for same job is around 450% higher paid. They will need to control those USA borders as young folks from all over will want to get in.