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Gold/Mining/Energy : Gold and Silver Juniors, Mid-tiers and Producers
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From: LoneClone10/13/2022 4:05:03 PM
1 Recommendation

Recommended By
Anchan

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CEE, KRR

Centamin aka CEE released an update re the power supply for its Sukari gold mine in Egypt, currently fully powered by on site diesel generators. They are in the final commissioning stage for a newly constructed solar plant which will deliver 30MW of power, which is designed to save up to $20M per year in costs, not to mention a massive reduction in GHG emissions. Further, they are in discssions to further reduce costs and GHG production by sourcing another 50MW of power from the Egyptian power grid.

Full commissioning of the solar plant will occur by the end of the year.

Message 34036258

Karora Resources aka KRR announced their Q3 results, with production of 38437 oz Au. beating their previous record by about 25%. This was helped by two factors, a coarse gold discovery of about 2500 oz and their new Lakewood mill coming into their possession for the last two months of the quarter.

In response KKR shares initially went red and have since only barely edged into the green. There is something strange going on with the trading in KRR shares of late; it could be a persistent seller with a large holding, or, as some have postulated, a creeping takeover at the current undervalued share price may be underway.

That said, equally as important in the current mining environment as the production numbers we got today are the cost figures, which we won't get until they release their financial results, which generally arrive about a month after the production results.

Message 34036284

Saville continues to opine that the PoG in $US likely set a multi-month low last month and will continue to gradually move upward. He also presents evidence that the gold mining sector will be the only market sector to immediately benefit once the Fed pivots from increasing interest rates to reducing them; other sectors may continue in a bear for up to two years before they react positively. He does caution that the September low in gold stocks will likely require another test before a cyclical bull begins.
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