Pan African Resources Share Discussion Threads

[stonedyou] 23/7/2020 23:00

Gold Is Within Striking Distance Of Its All-Time High. Here’s How To Play The Rally



The time has come. Today the price of gold briefly rose above its all-time record

closing price of $1,891.90 per ounce, set in August 2011. Once the precious metal

breeches the important $1,900 resistance level, I believe the sky’s the limit.

Both gold and silver have been on a tear this week, with the yellow metal touching

a nine-year high of $1,897 in intraday trading on Thursday. Silver was trading

above $22.70, up 94 percent from its 52-week low on March 18


As I told Kitco News back in February, this is a secular bull market we’re in,

supported by several factors, and there’s no reason why gold can’t hit $10,000 in

the coming years. Remember rhodium? The rare earth metal climbed an insane 22

times, from $625 in July 2016 to as high as $13,850 in March.

Precious metal miners have also outperformed, with the Philadelphia Gold and

Silver Index strongly beating the S&P 500 for the year so far, by a factor of 17.

Among the best performers year-to-date have been Gold Fields (up 88.4 percent),

Harmony Gold Mining (85.7 percent) and Alamos Gold (84.1 percent).

[stonedyou] 23/7/2020 13:48

China Aims Missiles At Guam. How Should the Pentagon Defend America’s Pacific Bomber Base?



The U.S. Navy admiral commanding Indo-Pacific Command is worried about Guam.

In the event of war, the Chinese military could target the U.S. island territory with cruise and ballistic missiles, Adm. Phil Davidson warned. And that could remove from the map the U.S. Air Force’s main Pacific base for bombers and other heavy warplanes.

The solution, Davidson said, is to install the Navy’s Aegis missile-defense system on Guam. Aegis Ashore could function as “the backbone of [a] homeland defense system” for the territory, Davidson told reporters on Wednesday.

[stonedyou] 23/7/2020 13:45

Gold price soars to 9-year high amid US diplomatic tensions



The international spot gold price hit $1,883.16 per ounce and silver $22.85 per ounce at 6 pm on Thursday (Beijing time) as risk-aversion sentiment soars amid escalating China-US diplomatic tensions and the continued spread of COVID-19.

The gold price has risen over 21 percent this year, hitting its highest point since September 2011 and approaching a record high of $1,920.80 per ounce.

The silver price has grown around 17 percent, now at its highest level since September 2016.

Driven by the international gold price, domestic spot gold and gold future prices both exceeded 410 yuan per gram ($1,672.80 per ounce) on Thursday. The price of spot gold at the Shanghai Gold Exchange closed up 0.6 percent to 412.66 yuan, and the main contract, Au2012, was up 1.11 percent to 416.52 yuan.

Observers noted that escalating tensions between the world's two largest economies, as well as the uncertainties of the global pandemic, have pushed up metal prices.

Wan Zhe, chief economist at the China National Gold Group Corp, said global risk-aversion sentiment has increased as many countries face great challenges in returning their economies to normalcy due to the uncertainties of the global pandemic, and some central banks are pumping liquidity into the market which may depreciate cash values.

Factors supporting gold price growth have not fundamentally changed, Wan said. "Gold prices may remain at a high level in the coming months as panic over a resurgence of COVID-19 cases in fall and winter lingers," she said.

On Wednesday, the US ordered the Chinese Consulate General in Houston to close in an unprecedented escalation of tensions in bilateral diplomatic relations, sending another shockwave into financial markets.


The domestic share market slightly edged down in the morning session but recovered to close just around the flatline. The Shanghai Composite Index closed down 0.24 percent to 3,325.11 yuan ($475.43) and the Shenzhen Component Stock Index inched 0.03 percent to 13,661.50 yuan. The tech-heavy ChiNext board closed up 1.11 percent to 2,799.67 yuan.

Yang Delong, chief economist at the Shenzhen-based First Seafront Fund Management Co, told the Global Times that the impact of the abrupt escalation of China-US tensions on A-share market is short-term.

"Looking forward, the A-share market will be increasingly immune to such political incidents, with shares relevant to military equipment and COVID-19 vaccines going robust," Yang said.

AVIC Shenyang Aircraft Company Ltd saw its shares rise up daily limit of 10 percent to 68.91 yuan per share and Harbin Dongan Auto Engine Co rose by 9.97 percent to 8.49 yuan per share. Fosun's medical branch Fosun Pharma posted 10 percent growth to 47.6 yuan per share.

That came as China launched its first Mars mission on Thursday, intensifying international competition in deep-space exploration. Meanwhile, media reports said that a COVID-19 vaccine candidate developed by China National Pharmaceutical Group is expected to hit the market by the end of 2020.

[stonedyou] 23/7/2020 13:41

Fundamental And Technical Indicators Point To Gold Shooting Higher


On a monthly chart, the last resistance point for gold is the $1923 peak in 2011.

Why Gold?

Tensions of all sorts are on the rise in the US, EU, and globally: COVID, employment, fiscal stimulus China (military and economic), and massive increases in money supply by the central banks, especially the Fed.

Cup and Handle

The Cup and Handle is a technical formation. A handle is formed on a pullback before the pattern blasts higher.

Of course, there may be no handle. Gold may just blast higher (or collapse) but fundamentals suggest higher, perhaps after some consolidation.

Gold vs Faith in Central Banks



Gold does worst when faith in central banks is the highest. Greenspan's great moderation is the best example. Greenspan was considered the great "Maestro" who could do no wrong.

That theory crashed to earth in the DotCom bust. We have now had 3 major economic bubbles in 20 years.

It should be obvious that the Fed is boosting financial assets but that is not going to create jobs or cure COVID.

I do not see a reversal in Fed policy. Do you?

[risa5] 23/7/2020 07:57

Pan African should be debt-free this year and hopes to increase dividends as production grows

Pan African Resources plc's (LON:PAF) Cobus Loots tells Proactive its gold production increased by 4.1% in the year ended June 2020.

Loots says the strategic focus for the year ahead remains on optimising operations and de-gearing the balance sheet with the intention of increasing dividends in the years ahead.

[risa5] 23/7/2020 07:55

Pan African does it again with exciting rich vein of gold at New Consort

JOHANNESBURG (mining weekly.com) – London-, Johannesburg- and now also New York-listed Pan African Resources continues to demonstrate the resilience of its operations with an improved all-round performance, despite the challenges posed by the Covid-19 pandemic.

[risa5] 23/7/2020 07:54

There is a embedded video in this link...

Pan African does it again with exciting rich vein of gold at New Consort

JOHANNESBURG (miningweekly.com) – London-, Johannesburg- and now also New York-listed Pan African Resources continues to demonstrate the resilience of its operations with an improved all-round performance, despite the challenges posed by the Covid-19 pandemic.

In the last year, Pan African has taken strong steps to reduce all-in sustaining costs, to focus on its surface tailings retreatment business, which is doing exceptionally well, and to do additional exploration development at its underground assets, specifically at Barberton.

“All of these things are coming together quite nicely at the moment, and we’re seeing it reflected in our results,” said Pan African CEO Cobus Loots, who was stricken by the coronavirus three weeks ago and has now recovered. (Also watch attached Creamer Media video.)

Loots was speaking to Mining Weekly a day after the publication Business Insider South Africa reported on the discovery of an exceptionally high-grade gold vein at Pan African’s New Consort mine in Barberton.

“So rich is the ore that in many cases it can be seen with the naked eye,” Business Insider commented, in reporting that New Consort’s deluxe vein of gold was “more than double what is normally considered high quality”.

Showing a picture of a mineworker holding two big pieces of gold-bearing ore, the publication stated that the initial chip samples indicated local grades of 300-g/t-plus of milled ore, with an average density of around 25 g/t, at a time when the rand gold price is close to a million rand a kilogram and dollar price projections continue to point upwards beyond $1 800/oz.

“The rich vein at New Consort is fairly small but certainly, in our view, it will turn around the fortunes of the mine, which has been struggling for some years to make profits,” said Loots.

“It delivers into what we said to the market last year, about being busy with a number of initiatives to increase production from Consort, to make sure that it contributes to group profits going forward.

“We also have a number of additional exploration targets at the mine. Many years ago, Consort was actually Barberton’s richest mine and what we’re doing at the moment, plus the exploration targets, will stand Consort in good stead for the years ahead,” Loots added to Mining Weekly.

Development into the first target block on 42 level of Barberton’s New Consort Mine – Prince Consort shaft – was completed last month.

ORGANIC GROWTH PROJECTS

The good news from New Consort is just another example of the ongoing organic growth of the gold reserve base of Pan African, which has a knack of making its internal projects work.

The Elikhulu tailings project is a case in point. When the R1.8-billion Elikhulu project was launched, an initial payback of four years was forecast. But at this gold price, and given the top performance of the asset, payback will be in less than three years.

Moreover, hot on the heels of Elikhulu is the Egoli project, also at Evander, but this time an underground project, and it looks like being another winner. No shaft work is necessary as the existing twin-vertical shaft system extends down to a depth of 1.6 km. Ore will be fed into a fully operational plant at Kinross, and all the other required infrastructure is in place.

Funding is being finalised, detailed project planning is advancing and a development plan update is likely in September.

On the company’s strong share price performance, Loots says: “We know that gold is a cyclical commodity and it’s fair to say that currently we’re in a really good rand gold price environment.

“We not only have the dollar gold price working for us. We also have a fairly weak rand. Even though it has strengthened recently, it still means a gold price which is just south of a million rand per kilo, which is very attractive,” Loots added.

AMERICAN DEPOSITORY RECEIPTS

As reported by Mining Weekly earlier this month, Pan African bolstered its already strong London and South African shareholder base by establishing a sponsored Level-1 American Depository Receipt (ADR) programme on the over-the-counter market in the US, with the Bank of New York Mellon being the appointed depository.

In doing so, Pan African joins a number of its gold peers that have successfully implemented an ADR programme.

“The US market, in terms of liquidity and the investor base, is massive. We’ve done very well in both the UK and South Africa in terms of our shareholder base, but we’re looking to access the depth of the market in the US, specifically in this gold price environment, and we should be doing so, given the quality of our assets, and the fact that we’re a long life and safe producer. We tick all the boxes and we’ll see how it goes,” said Loots.

The Barberton Mines achieved three-million fatality-free shifts during June 2020, a record for the past decade, and Elikhulu has gone for 11 months without a single lost-time injury.

“The focus is on safety. It’s been a key area for us for many years and it’s about trying to see that we keep achieving results. But as we said in our operational update, safety’s never done until we have absolutely no incidents and issues at our operations. It’s a journey and we’ll continue on this journey,” he said.

ENVIRONMENTAL, SOCIOECONOMIC AND GOVERNANCE

Environment, socioeconomic and governance (ESG) initiatives have been prioritised further through increased expenditure on rehabilitation and sustainable development projects that include large-scale agricultural projects at Barberton Mines, and the initiation of a feasibility study for a solar plant at Barberton Mines.

Pan African has been placing much emphasis on the ‘S’ in ESG, with particular emphasis placed on it during lockdown.

“It’s ongoing. If you look at our initiatives over certainly the last three, four months, since the start of the pandemic, we’ve gone to great lengths to look after our own employees and also the communities that surround our operations.

“Those efforts will continue and we recognise that certainly in the Barberton area, and also in Evander, where we operate, we’re the largest employer in those areas and the largest economic activity, so to speak. So, we need to make a positive difference, which we are doing and we’ll continue to do so,” he said.

Covid-19 assistance has risen to R5-million and R3-million worth of hygiene, water and food hampers to the company’s 2 600 Barberton Mines employees, as well as to near-mine families and local communities around its Fairview, Consort and Sheba operations.

SOLAR POWER PLANTS

Much emphasis is also being placed on the ‘E’ in ESG, evidenced by the board’s approval of a 10 MW solar power plant at the Elikhulu gold-from-tailings operation, which will lower the carbon footprint as well as the electricity bill after its 12-month construction period.

“Given the improvements in technology, in recent years, this sort of project makes all the sense in the world. We have the support of government. The Minister of Mineral Resources and Energy has come out quite strongly to say that, to the extent that we experience bottlenecks, we need to let his department know. So we have supported government. From an economic perspective, it makes sense.

“The solar plant will supply 30% of Elikhulu’s power. It’s a fairly limited capital item of about $7-million to $8-million. We estimate the payback on that investment to be, again, sub four years, so quite attractive, and it will be the precursor for us to look at further similar initiatives in the group.

“We would hope to expand the plant at Evander for a portion of Egoli, number one, and we’ve also commenced a feasibility study at Barberton for a similar plant at Fairview.

“Initially, we don't have a storage solution as part of the project but we certainly leaving the flexibility so that we can install storage going forward, which means that we could potentially increase the percentage of power that we get from these projects in the years to come,” Loots explained.

DIVIDEND INTENT

Earlier this month, in an operational update for the year ended June 30, Pan African reported intensified dividend intent and revealed that it was within striking distance of zero debt in the next 12 months.

On the company’s current dividend outlook, Loots said: “Well, it’s always a balance between degearing, which we’re doing very nicely if you look at our operational update we put out earlier this month; reinvesting into our assets, which we’ve always done to ensure that they are sustainable over their long lives; and then returning cash to shareholders.

“In the past, Pan African has been a leading dividend payer in terms of our yield, in the global gold space and we’d like to get back there in the years to come.

“At the prevailing gold prices, assuming no major interruptions from Covid and assuming that we can achieve our guidance for the year ahead, which is 190 000 oz of gold, we should have pretty much no debt on the balance sheet in 12 months from now,” he said.

An all-in sustaining cost level of below $1 000/oz is the ongoing target.

“We’re very proud of our people and what they have achieved. These are exceptionally difficult circumstances and times. They’re unlikely to get easier soon. We have to deal with it in a responsible manner and that’s what we’ll continue to do,” said Loots.

[stonedyou] 22/7/2020 22:46

MARKET REPORT: Traders have a glint in their eyes as gold and silver prices shoot to their highest levels in years






Traders had a glint in their eyes yesterday as gold and silver prices shot to their highest levels in years.

A perfect storm of conditions has pushed both precious metals into the spotlight.

Gold rose almost 1 per cent to $1,856 an ounce – a nine-year high that drew it nearer to the record $1,921 it hit in 2011.


Analysts are bullish about how the safe haven will perform over the next few months. Many think it could smash the $2,000 mark and the most zealous regard $3,000 as realistic.

The coronavirus-induced market turmoil, Sino-US tensions, low interest rates and massive stimulus programmes have turned traders into magpies.

While gold has been on a steady upward curve, silver has shot up in a more recent rally, surging as much as 8 per cent yesterday to $23 an ounce. It is up about 70 per cent since a trough in March. Silver is also seen as a safe haven but its use as an industrial metal has spurred hopes that it could be a winner in the 'green recovery' politicians promise will follow the pandemic.

[stonedyou] 22/7/2020 21:48

Gold price needs to rally another 34% if U.S. wants to normalize debt – CrossBorder Capital



(Kitco News) - It didn’t take long for the gold market to catch its breath after its initial break above long-term resistance at $1,800 an ounce. The precious metal is seeing a new surge in momentum and one research firm said that there is still room for prices to move higher.

Central banks around the world have pumped massive amounts of liquidity into financial markets to stabilize the global economy, devastated by the COVID-19 pandemic; however, analysts at CrossBorder Capital said that this is just the start of a much bigger trend.

[risa5] 22/7/2020 13:23

Pan African does it again with exciting rich vein of gold at New Consort

JOHANNESBURG (mining weekly.com) – London-, Johannesburg- and now also New York-listed Pan African Resources continues to demonstrate the resilience of its operations with an improved all-round performance, despite the challenges posed by the Covid-19 pandemic.

[risa5] 22/7/2020 13:21

There is a embedded video in this link...

Pan African does it again with exciting rich vein of gold at New Consort

JOHANNESBURG (miningweekly.com) – London-, Johannesburg- and now also New York-listed Pan African Resources continues to demonstrate the resilience of its operations with an improved all-round performance, despite the challenges posed by the Covid-19 pandemic.

In the last year, Pan African has taken strong steps to reduce all-in sustaining costs, to focus on its surface tailings retreatment business, which is doing exceptionally well, and to do additional exploration development at its underground assets, specifically at Barberton.

“All of these things are coming together quite nicely at the moment, and we’re seeing it reflected in our results,” said Pan African CEO Cobus Loots, who was stricken by the coronavirus three weeks ago and has now recovered. (Also watch attached Creamer Media video.)

Loots was speaking to Mining Weekly a day after the publication Business Insider South Africa reported on the discovery of an exceptionally high-grade gold vein at Pan African’s New Consort mine in Barberton.

“So rich is the ore that in many cases it can be seen with the naked eye,” Business Insider commented, in reporting that New Consort’s deluxe vein of gold was “more than double what is normally considered high quality”.

Showing a picture of a mineworker holding two big pieces of gold-bearing ore, the publication stated that the initial chip samples indicated local grades of 300-g/t-plus of milled ore, with an average density of around 25 g/t, at a time when the rand gold price is close to a million rand a kilogram and dollar price projections continue to point upwards beyond $1 800/oz.

“The rich vein at New Consort is fairly small but certainly, in our view, it will turn around the fortunes of the mine, which has been struggling for some years to make profits,” said Loots.

“It delivers into what we said to the market last year, about being busy with a number of initiatives to increase production from Consort, to make sure that it contributes to group profits going forward.

“We also have a number of additional exploration targets at the mine. Many years ago, Consort was actually Barberton’s richest mine and what we’re doing at the moment, plus the exploration targets, will stand Consort in good stead for the years ahead,” Loots added to Mining Weekly.

Development into the first target block on 42 level of Barberton’s New Consort Mine – Prince Consort shaft – was completed last month.

ORGANIC GROWTH PROJECTS

The good news from New Consort is just another example of the ongoing organic growth of the gold reserve base of Pan African, which has a knack of making its internal projects work.

The Elikhulu tailings project is a case in point. When the R1.8-billion Elikhulu project was launched, an initial payback of four years was forecast. But at this gold price, and given the top performance of the asset, payback will be in less than three years.

Moreover, hot on the heels of Elikhulu is the Egoli project, also at Evander, but this time an underground project, and it looks like being another winner. No shaft work is necessary as the existing twin-vertical shaft system extends down to a depth of 1.6 km. Ore will be fed into a fully operational plant at Kinross, and all the other required infrastructure is in place.

Funding is being finalised, detailed project planning is advancing and a development plan update is likely in September.

On the company’s strong share price performance, Loots says: “We know that gold is a cyclical commodity and it’s fair to say that currently we’re in a really good rand gold price environment.

“We not only have the dollar gold price working for us. We also have a fairly weak rand. Even though it has strengthened recently, it still means a gold price which is just south of a million rand per kilo, which is very attractive,” Loots added.

AMERICAN DEPOSITORY RECEIPTS

As reported by Mining Weekly earlier this month, Pan African bolstered its already strong London and South African shareholder base by establishing a sponsored Level-1 American Depository Receipt (ADR) programme on the over-the-counter market in the US, with the Bank of New York Mellon being the appointed depository.

In doing so, Pan African joins a number of its gold peers that have successfully implemented an ADR programme.

“The US market, in terms of liquidity and the investor base, is massive. We’ve done very well in both the UK and South Africa in terms of our shareholder base, but we’re looking to access the depth of the market in the US, specifically in this gold price environment, and we should be doing so, given the quality of our assets, and the fact that we’re a long life and safe producer. We tick all the boxes and we’ll see how it goes,” said Loots.

The Barberton Mines achieved three-million fatality-free shifts during June 2020, a record for the past decade, and Elikhulu has gone for 11 months without a single lost-time injury.

“The focus is on safety. It’s been a key area for us for many years and it’s about trying to see that we keep achieving results. But as we said in our operational update, safety’s never done until we have absolutely no incidents and issues at our operations. It’s a journey and we’ll continue on this journey,” he said.

ENVIRONMENTAL, SOCIOECONOMIC AND GOVERNANCE

Environment, socioeconomic and governance (ESG) initiatives have been prioritised further through increased expenditure on rehabilitation and sustainable development projects that include large-scale agricultural projects at Barberton Mines, and the initiation of a feasibility study for a solar plant at Barberton Mines.

Pan African has been placing much emphasis on the ‘S’ in ESG, with particular emphasis placed on it during lockdown.

“It’s ongoing. If you look at our initiatives over certainly the last three, four months, since the start of the pandemic, we’ve gone to great lengths to look after our own employees and also the communities that surround our operations.

“Those efforts will continue and we recognise that certainly in the Barberton area, and also in Evander, where we operate, we’re the largest employer in those areas and the largest economic activity, so to speak. So, we need to make a positive difference, which we are doing and we’ll continue to do so,” he said.

Covid-19 assistance has risen to R5-million and R3-million worth of hygiene, water and food hampers to the company’s 2 600 Barberton Mines employees, as well as to near-mine families and local communities around its Fairview, Consort and Sheba operations.

SOLAR POWER PLANTS

Much emphasis is also being placed on the ‘E’ in ESG, evidenced by the board’s approval of a 10 MW solar power plant at the Elikhulu gold-from-tailings operation, which will lower the carbon footprint as well as the electricity bill after its 12-month construction period.

“Given the improvements in technology, in recent years, this sort of project makes all the sense in the world. We have the support of government. The Minister of Mineral Resources and Energy has come out quite strongly to say that, to the extent that we experience bottlenecks, we need to let his department know. So we have supported government. From an economic perspective, it makes sense.

“The solar plant will supply 30% of Elikhulu’s power. It’s a fairly limited capital item of about $7-million to $8-million. We estimate the payback on that investment to be, again, sub four years, so quite attractive, and it will be the precursor for us to look at further similar initiatives in the group.

“We would hope to expand the plant at Evander for a portion of Egoli, number one, and we’ve also commenced a feasibility study at Barberton for a similar plant at Fairview.

“Initially, we don't have a storage solution as part of the project but we certainly leaving the flexibility so that we can install storage going forward, which means that we could potentially increase the percentage of power that we get from these projects in the years to come,” Loots explained.

DIVIDEND INTENT

Earlier this month, in an operational update for the year ended June 30, Pan African reported intensified dividend intent and revealed that it was within striking distance of zero debt in the next 12 months.

On the company’s current dividend outlook, Loots said: “Well, it’s always a balance between degearing, which we’re doing very nicely if you look at our operational update we put out earlier this month; reinvesting into our assets, which we’ve always done to ensure that they are sustainable over their long lives; and then returning cash to shareholders.

“In the past, Pan African has been a leading dividend payer in terms of our yield, in the global gold space and we’d like to get back there in the years to come.

“At the prevailing gold prices, assuming no major interruptions from Covid and assuming that we can achieve our guidance for the year ahead, which is 190 000 oz of gold, we should have pretty much no debt on the balance sheet in 12 months from now,” he said.

An all-in sustaining cost level of below $1 000/oz is the ongoing target.

“We’re very proud of our people and what they have achieved. These are exceptionally difficult circumstances and times. They’re unlikely to get easier soon. We have to deal with it in a responsible manner and that’s what we’ll continue to do,” said Loots.

[risa5] 22/7/2020 13:16

Pan African should be debt-free this year and hopes to increase dividends as production grows

Pan African Resources plc's (LON:PAF) Cobus Loots tells Proactive its gold production increased by 4.1% in the year ended June 2020.

Loots says the strategic focus for the year ahead remains on optimising operations and de-gearing the balance sheet with the intention of increasing dividends in the years ahead.

[stonedyou] 22/7/2020 10:42

Gold surges to nine-year high



Gold rallied in morning trading on Wednesday to hit a nine-year high, as it moved within sight of breaching all-time records.






As at 0930 BST, gold was trading at $1,851 per ounce, spurred on by a weaker dollar as well as economic and geopolitical concerns. Earlier in the session, it breached $1,865, the highest since September 2011.

The all-time high for gold is $1,921, which spot prices achieved in 2011.

Naeem Aslam, chief market analyst at Avatrade, said: “Most of these gains are due to the loose monetary policy and escalating geopolitical tensions between the US and China.”

Neil Wilson, chief market analyst at Markets.com, said: “Gold has broken out to notch fresh nine-year highs, bringing $1,900 firmly into view as well as the all-
time high around $1,921 becoming a real target.

[stonedyou] 22/7/2020 09:22

risa5
22 Jul '20 - 08:58 - 11652 of 11653 (Filtered) Ah ah ah ah ah ah ah ah ah ah ah ah!!!!

[stonedyou] 22/7/2020 09:21

8.50am: Dull early progress

The FTSE 100 index retreated in early trade on Wednesday as investors piled into gold again as the price of the yellow metal, a haven in times of uncertainty, appeared to signal something that world stock markets are continuing to ignore.

The UK benchmark was down 29 points to 6,240.62.

The value of an ounce of the yellow metal is currently bubbling just under the record levels last seen in 2011, and is set to hit US$2,000 this year, according to American investment bank Citi.

This momentum perhaps reflects a more realistic assessment of the prospects for the world economy faced with a worsening coronavirus (COVID-19) pandemic in the US and a second spike in countries with the spread supposedly under control.

The dollar fell for a fourth day as US President, Donald Trump warned the coronavirus spread will likely get worse before it improves, while receding crude oil futures reflected widespread pessimism over global growth.

[risa5] 22/7/2020 08:58

More garbage from the resident clown

[stonedyou] 22/7/2020 08:39

China vows 'forceful counter-attack' against UK in escalating row over Hong Kong

A spokesman for China's foreign ministry said the UK should "give up its fantasies of continuing colonial influence in Hong Kong and immediately correct its mistakes"



China has threatened a "forceful counter-attack" against Britain in an escalating row following Beijing's crackdown on Hong Kong's pro-democracy movement.

The warning came after the UK's announcement that it would suspend its extradition treaty with Hong Kong following Beijing's introduction of a national security law for the former British colony.

[stonedyou] 22/7/2020 08:34

'Limited war is the only option with China'


'The PLA will not voluntarily withdraw from Indian territory.'



National security expert Dr Bharat Karnad is the emeritus professor in national security studies at the Centre for Policy Research.

Dr Karnad helped draft India's nuclear policy and authored India's Nuclear Policy and Nuclear Weapons and Indian Security.

Dr Karnad was one of the first security experts to have issued several warnings about the Chinese incursion and occupation of Indian territory in eastern Ladakh.