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[plasybryn] 28/6/2020 07:18

I thought recent UK Bank of England lead bank stress tests proved our Banks were better capitalised this time. Let's hope that is true. Time will tell I guess. Much depends on how quickly we can come out of the virus and stimulate the economy of course.

[crossfirecssf] 28/6/2020 07:14

I agree Plasybryn, it is alarmist in that predictions such as these are almost always premature. Financial systems, however close they are to falling over, always manage to keep crawling along for far longer than they have any right to do so.

However, there’s absolutely no doubt that the situation is ‘alarming̵7; and with ‘Zombie’ banks let alone zombie economies left and right, not even post COVID-19, we’re without doubt in one hell of a precarious position. The possibility of a ‘good’ outcome in my view began to slide from the table sometime around the new millennium.

Strictly speaking it began to slide in 1970 when the gold window was slammed shut on everyone’s fingers and global currencies became unbacked. Even a cursory glance at a chart illustrating the “money?” supply since then makes it glaringly obvious that the printing presses began spinning into action at around that time.

I believe that an unbacked paper money (token) system is unsustainable, particularly when left in the hands of politicians, and can only end one way. It’s simply a matter of time, and it seems most likely to me that a return to some form of gold standard is somewhat inevitable.

Meanwhile, strictly back on topic, I do so hope that we receive a positive RNS on Monday, but at the same time I’m steeling myself for disappointment. Here’s to hope...

[bonehanmer] 27/6/2020 23:44

I should also mention that when the Q2 data comes in negative, that will be by definition a recession. I am sure the R word will be plastered all over the news on Tuesday.

[bonehanmer] 27/6/2020 23:35

Thank you for sharing CSSF. When observing the field: you have interviews such as the one CSSF shared, gold bullion adverts now being advertised on Sky News channel, the fact that the UK's Q2 GDP data is being released on 30th June (I suspect it is going to be rather shocking), the JV deal deadline and imminent annual results. AAU's share price could literally explode next week. Here's hoping!

[red army] 27/6/2020 18:54

IF banks get to that level then they will get taken over by government.

[plasybryn] 27/6/2020 18:12

Alarmist stuff. Does anyone believe that?

[crossfirecssf] 27/6/2020 16:42

Interesting interview with Alasdair Macleod. Let’s see if he’s right. We’ll know by Tuesdays close. Tantalising, but also pretty scary re. Bank failures beginning possibly within a month and possible Fiat currency collapse within a year or so...

[1candc] 27/6/2020 14:46

agreed tigerchris1

[tigerchris1] 27/6/2020 12:47

Just catching up over the last few days. Agree with SonoftheRock that AAU may be entering a JV with a bigger company with a ponderous decision making culture. But my reading is that AAU will be a minority part of that JV, providing some technical consultancy services and generating a steady income from the deal. The 100% owned assets elsewhere on the other hand will not be affected by this culture and will operate more like the AAU we are used to. The deal will finance plenty of other activity to provide interest

[plasybryn] 26/6/2020 20:08

Post 22653: Sorry to hear that C.C. Hope you are on the way to a full recovery.Puts everything else into perspective. Best wishes.

[8rad] 26/6/2020 19:02

CC with you mate.

[bigglesbingham] 26/6/2020 17:21

Just my experience apologise shouldn't have shared that opinion on this board . Sorry if I've offended anyone

[desertjoe] 26/6/2020 16:29

Glad to hear that, Richard. Johnny Rebs were big time losers.

[actonovator] 26/6/2020 16:28

Patience is key, but so is Investor confidence - a 4th extension (and counting) starts to look inept. Will we be saying the same thing at Xmas on the 7th extension?

But hey ho - jumping the gun here - let's hope for Monday!

[renniks2016] 26/6/2020 16:19

Patience is a key element of success." Bill Gates

[donald pond] 26/6/2020 16:16

biggles, its not whether its offensive, the problem is that its wrong. Lawyers may be slow but that is invariably because clients can't agree details. Someone is dragging their feet. that someone may be blaming lawyers, but thats a different issue.

[plasybryn] 26/6/2020 16:15

Or perhaps they are so good no one can believe they are true. Ha ha

[bigglesbingham] 26/6/2020 16:15

I was just going to write that ha ha regarding accounts. Lawyers comments were reference the deal

[plasybryn] 26/6/2020 16:14

Reference the Accounts I think the reason(s) for the delay are understandable. Firstly as we know we have new auditors. They apparently aren't permitted to accept the previous year's accounts until they have carried out some required checks. Then there is the possibility that they are required to visit the assets (the mines in Turkey) being new Auditors which may not be possible yet. Finally they came on the scene late so normal delays are inevitable. That's my take.

[bigglesbingham] 26/6/2020 16:10

Has no one listened lawyers are on the whole money gabbing wastes of time who will use any excuse to drag something out and increase the costs end off. Sorry if this offends any lawyers on this board but is what it is.

[thanksamillion] 26/6/2020 15:29

Covid may be the reason...but it shouldn't be. Producing the accounts is an office function, or in these times a home/office function. So a delay perhaps, but it should not be a particularly long one.

[rumpus1] 26/6/2020 14:24

Well, let's just hope we don't get an RNS at 4.29pm today as they try to bury bad news over the w/e. Looking forward to next week and will have something nice on ice ready to celebrate/commiserate. Have a good w/e all.

[dixi] 26/6/2020 14:18

It's really not that long ago that KS and Co were upsetting shareholders over bonuses and fundraising etc. It seems reasonable that his current 'excellent stewardship' may get called into question.