Glencar Share Discussion Threads

[1waving] 19/11/2010 13:07

ss -- That is bad. If it's not too prying, what part of the country ??

[share_shark] 19/11/2010 12:53

Yes, a very good point you have made there iWaving but alas, there are around 40shops in the high street empty and boarded up. The owners of eleven of these shops have allowed the Charities to use the premises rent free, to save the shops becoming vandalised.

[1waving] 19/11/2010 12:46

Have some empathy with you on your post SS but will take issue with charity shops. They may employ a manager at a modest salary but the rest are volunteers, also have tax concessions/exemptions and can undercut high street prices by miles. If the premises were taken up by commercial retailers there would be more people employed and a more level playing field. This charity shop business on the high street is destructive for employment and real retailers alike.

[share_shark] 19/11/2010 12:27

Hi again I Waving. Good to hear from you.

As I have never been a £1 in debt and paid for everything cash,I find the present financial and economic woes so hard to endure and comprehend.

However, I am careful to keep my eyes and ears open here,where I live my life,perfectly grounded at Ground Zero!. No apologizes for calling it that either.

I am finding the following disturbing trends.

The country markets and market towns are dying and closing, due to lack of customers JUST at the time when they are needed most. Unbelievable when cheaper goods are required,now more than ever. Our planning masters in their wisdom are allowing the supermarkets and vast shopping precincts,out of town governing our every need and of, at what a cost. My local market butcher,selling local beef,pork and lamb together with the local butchers shop have just closed, due to the Supermarkets taking their trade AND every parking space within a ten mile radious(library,community centre, sports centres and half hour parking spots) have minimum charges of £1 for half hour. I have visited the supermarkets to see how people are paying for these very expensive goods and 9 out of 10 are paying with their credit cards !. Madness, when the interest rates are at halfpc and the Card companies are charging 9.5% plus.

As for start up businesses. Where is anyone going to find the loans OR the customers ?. There are now eleven charity shops in my local high street and THEY are the only ones, with customers in and yet their takings are down 60% in the last three months.

Britain is no longer a nice place to be.

PS. I took two coats into the dry cleaners to be dry cleaned and they were asking £40 !. They have to be joking. I enquired why the cost had risen from three items for £12, last Feb and their reply was "inflation". Needless to say the coats did not go in for cleaning and I have used my steam machine with white diluted vinegar and have gladly used a silent Churchillian jesture to the dry cleaners. However, I am sure you get my meaning though. So just like a domino effect,feelings akin to mine, circles the country,Europe and the Globe.

[share_shark] 19/11/2010 11:24

To anyone out there(who trusts me still) and wants to read.


--------------------------------------------------------------------------------


Two scary statistics from the Bank of England

The Bank of England came out with a couple of very scary statistical releases yesterday. Neither bodes well for Britain's near-term economic prospects.

The first was to do with consumer lending. It's grown by less than 1% over the past year. And little wonder.

The bank rate, which is supposed to set the trend for other interest rates, has been slashed from 5% in September 2008 to just 0.5% now. But the cost of overdrafts has only dipped from 9.9% to 8.3% during that time. And the average rate charged on credit cards - now 12.37% - has actually gone up!

In other words, there's been little or no respite for millions of heavily indebted borrowers. And this is about as good, interest rate-wise, as it's likely to get. If inflation rises - and we're getting ever-more worried it will - rates could soon head higher. Consumers will have even less cash to spend.

Those lending figures explain why retail sales have been pretty puny recently. In October, sales rose by 0.5%. That sounds OK, but it followed two months of declines. And if you strip out petrol sales, the rise was just 0.3%.

Won't other parts of the economy pick up the slack from the consumer? That's the hope. But that's where we come to the Bank of England's second scary data set.

Look at the chart below. Joseph with his dreamcoat would be proud of it, but please bear with me. It indicates the monthly breakdown of cash raising by UK businesses, with the orange line showing the total.

Last month UK companies only raised more money via sales of bonds - shown in purple above the 'zero' line. In every other area, they paid back more than they took on, sending the orange line firmly negative. Over the last 12 months, British business has repaid £16bn. Looking forward, there's every chance of this trend continuing.


Source: Bank of England

What this all means for the UK economy

What does this all imply for the UK economy? If part of the 'recovery' is supposed to be based on extra corporate cash being spent and invested, the signs aren't optimistic - businesses won't have the money.

Paying down debt is generally good for individuals and individual companies. But if no one is spending, it suggests tough times ahead, particularly for firms that sell anything that could be considered to be a 'luxury' rather than a necessity. So the big recovery in the general retailing and leisure sectors over the last 18 months could soon grind to a halt.

So how about selling to other countries? The hope is that with the weak pound making our exports cheaper, Britain's manufacturers can save the nation. Unfortunately, it doesn't look likely. The latest survey from the Confederation of British Industry suggests the manufacturing recovery is running out of steam. Manufacturers are becoming less bullish on the amount they expect to produce.

And don't expect the government to start splashing out again. Despite all the talk of austerity, the national overdraft is proving harder to shift than expected. In October the government had to borrow a record £10.3bn, taking the national debt - what the country owes - to a record £846bn.

"Given the recovery has been stronger than forecast in the June Budget, the fact that borrowing may overshoot the [official] forecast suggests the structural problem at the heart of the public finances may well be larger than first thought", says Samuel Tombs at Capital Economics. "With the manufacturing sector now also starting to struggle, it's increasingly hard to see which sector of the economy may support the recovery in the months ahead."

[1waving] 05/11/2010 16:37

Seems we've both done well following GEX takeover.

I quite like AAU and will probably top up when appropriate. Has been a slow burner, probably because of CEO having set the targets very low, but will come very good and should be multiples of where it is now in 18 months or even less. Have taken a critical stance on the CEO as he does set the bar low and I think they can achieve more with a little prodding from shareholders -- or a straightforward kick in the derriere ! Solid company, which with a little more dynamism could move very sharply. Like the JV with EGU, both the copper/gold and gold prospects look to have great potential. Results from drilling there by end of year hopefully.

Would like to see the finders, Hugh Mc and Kieran H, in another project again, but as you say, it does need to be with someone with business nous.

[bongo bwana] 05/11/2010 16:18

I lashed a few ££££ into AAU, and right now it seems they are going in the opposite direction to the one I expected LOL. I remember this place well - with GEX. Im sure it will be grand in the LT and in the meantime I will probably add.

1W you made me think there with what did I do with my GEX cash. I put it into PRE and that performed well before TO. Soon I will have a bucket of 'free' shares in a firm called Clontarf Energy. But the funds from this TO were put into WCC and they were sold recently for a very handsome sum which was taken out of the market and used for other purposes.

So, in many ways the GEX TO didnt do me that much harm at all but its nice to vent some steam, every once in a while.

The current global gold market/scene is scary. I agree with you 100% that if a mining/exploration company's management/BOD has demonstrable and appropriate skill sets then shareholders are most likely to enjoy a good return on their capital. If Hugh Mc and Kieran H though about setting up a small explorer Id be in there with them pronto but Im much more aware of their business shortcomings and i beleive that they would have to address these with the recruitment of an entrepreunarial go getter to balance the talents out.

[1waving] 05/11/2010 15:44

Maybe at the time with a poor takeout price but have done very well from the cash out of GEX.

GKP and VGM were the two main places cash from here went -- so not really that painful !!


Been on the look out for unloved at the moment earlier stage gold explorers but so many have shot up recently. A bit of patience may see one or two retrace -- any suggestions ??


Have looked at CNR, TPJ, GGP, SRB and quite a few others.

[bongo bwana] 05/11/2010 15:11

The pain of it!!!!!!!

[1waving] 05/11/2010 14:26

The metallurgy/recovery looks to be very good with the limited tests they seem to have done already.

[bongo bwana] 04/11/2010 11:21

I wonder how Hugh Mc feels about this???

Everyhting he said during the last 2 AGM's has come to pass.

I suspect that if we had the inferred ounces data it would complete the picture.

FFS

[1waving] 04/11/2010 10:54

GF Quarterly report this morning:--

At the Yanfolila project in southern Mali (Gold Fields 95 per cent),
drilling has been limited during the rainy season but is planned to
ramp up to five rigs in the December quarter. Assay results from the
previously completed resource definition drilling at Komana East
and West continue to show encouraging gold grades. Positive
assay results have also been returned from initial drilling at the
Gonka, Sanioumale and the Badogo-Malikila satellite targets
located to the south and southeast of Komana and follow-up drilling
programmes are planned for these areas. Preliminary metallurgical
tests on core samples of the transitional and sulphide mineralisation
from Komana East indicate that direct cyanidation can achieve
acceptable recoveries with low cyanide consumption. Samples of
the oxide mineralisation have yet to be tested, however, recovery
issues are not expected.
---------------------------

Not giving away much in terms of total ounces yet.

[share_shark] 26/10/2010 07:52

For my mining friends .

[share_shark] 16/10/2010 23:10

BB note Vg news on PNG.

[bongo bwana] 13/10/2010 10:49

Really appreciate update 1W and many thanks.

[bongo bwana] 13/10/2010 08:40

SS

Phone whenever it is suitable for you.

[share_shark] 13/10/2010 08:12

;-) achl on the move now.


.

[bongo bwana] 13/10/2010 07:59

EARLY Today might have been better but Im sure you did well.

[share_shark] 13/10/2010 07:58

Yeh I have and what neddy sold out there ,several months ago?. ;-(

[bongo bwana] 13/10/2010 07:53

I think the share price has made a key advance and broken resistance - as if a correction process is now underway. Top of my re-hit list (just ahead of PHTM) when I dispose of that current interest I have ;-)


Note Director dealings in DNLM !!!!!!