Centamin started off with a second-hand plant,I don't recall it being an issue. The fact that it is being sold doesn't mean that it is clapped out, more likely that the deposit has been exhausted. When it is reinstalled it will be refurbished and have many parts replaced and upgraded.
When TSHTF, which it is going to do in a big way, then if you don't hold it in your hand then you don't own it. Many companies will offer to sell you allocated gold and store it for you at a cost. I think that most of them sell the same gold many times over and collect many storage fees for each ounce. I read an article about it some time ago.
Buy it, take delivery and then store it outside of the banking system. That way you own it, it is yours come what may.
Atkinsons are very good, I and several friends have used them many times.
That's all good advice BigDog. I would add that old scrap British silver coins are another way of buying silver as they are vat free and any profits are free from cgt. As they are basically scrap silver they wouldn't sell for top price but in a bubble market that shouldn't be too much of a problem.
Pre 1920 coins are 92.5% silver and 1920 to 1946 are 50% silver, note the debasement of the currency.
I have been a precious metals bug for about 15years and am well aware that we are at the beginning of the next leg up in the secular bull market probably culminating in a mania phase with parabolic blow off. I have also looked at 100, 50, 20 year charts. On this occasion I looked at a 10 year chart and simply wondered if my observation was correct.
A bit of a pullback and consolidation would be no bad thing at this point. There must be quite a few newbies sitting on 100/200% profit . Shaking out a few weak hands and providing a buying opportunity for new investors would create a firm base for the next big leg up.
I took a look at PUR and was very tempted to buy in as they seem to have a compelling story. However their market cap was about £200 million (now 219) and they made CNR look so undervalued in comparison, I just couldn't make myself press buy.
Hi GB, who is the largest FTSE silver miner? I rather like silver's future prospects so would be interested to check it out. I realise that I am being lazy in asking you for a shortcut, hope you don't mind.
RE: Copper Project Potential Value13 May 2020 15:24
Apologies Ash, I did have a nagging doubt about the accuracy of my last post regarding Atalaya so I did , belatedly, check online. Whilst I was in error about Atalaya's retained stake in Cyprus please believe what I wrote about Adams.
I checked on the Companies House website, Venus has 4 directors, to my absolute horror I note that Adams is one of them. I will now be giving very serious thought to selling my Ariana shares much sooner than I had intended. I have always felt very comfortable with my investment here but sadly that is no longer the case.
RE: Copper Project Potential Value13 May 2020 14:45
Ash, I'm fairly certain that Venus has nothing to do with Atalaya. If my memory serves me right Venus was an earlier unsuccessful project run by that ghastly man Harry Adams. He then moved his reverse Midas touch to Emed where he applied his scam tactics to dilute and consolidate shareholders whilst enriching himself and achieving nothing. He was eventually given the boot and Emed became Atalaya where new capable management transformed it into a successful Cu producer. Alas, Adams wasn't done, he transferred his scam tactics to Kefi where he diluted and consolidated shareholders into oblivion, strung them along and enriched himself.
The man has a long career of enriching himself whilst achieving absolutely nothing for the companies and shareholders who employ him. He is a grade 1 scam artist and I pray that Kerim will not be duped by him. I will be watching developments with Venus very closely.
Hi VanVan, not altogether sure but it may have something to do with the fact that they have about 2.5million oz at high grade and at least half of which is near surface, lots of drill targets to prove up more gold. Oh and the possibility of a toll refining deal at a nearby Calibre plant with spare capacity to bring in early cash flow and the fact that Rio Tinto have entered Nicaragua via a tie up with Calibre who have been empowered to buy up late stage gold assets for Rio. I'll stop there as the list could go on and on but it is off topic. Suffice to say, yes Ariana is undervalued but Condor isn't overvalued.