New, higher grade deposits of gold are coming to bear on gold-miner Semafo’s production, buoying output and finances.
Semafo reported strong results in its latest quarter including 72,700 ounces in porduction at cash costs of $475 an ounce gold, versus 41,500 ounces gold at $604 an ounce last year.
The improvement – which looks to be one that will largely hold for Semafo – has been some time in the making after a change in strategy that started in 2012.
The course change was two pronged. Semafo decided to unload its high-cost Samira Hill gold mine in Niger and it discovered high-grade gold near its existing Wona-Kona deposit and nearby Mana processing plant in Burkina Faso.
Quickly after the discovery the focus turned to bringing the new ounces, in what became known as the Siou deposit, into the production fold once it was clear there was a substantial deposit. So far reserves have grown to 4.8 million tonnes gold @ 4.94 g/t Au.
These compare very favourably to reserves in Wona-Kona, which Semafo has been mining for some time, which holds 18.8 million tonnes @ 2.19 g/t Au in reserves.
So this quarter, with ore finally coming in at full steam from Siou and another higher grade deposit called Fofina, Semafo’s gold grades popped. It processed 723,900 tonnes ore @ 3.37 g/t gold versus 712,100 tonnes @ 2 g/t Au a year ago and meantime recoveries jumped from 85 to 93 percent.
The jump in recoveries owed to easier to process ore from Fofina and Siou, and Semafo also noted that grade was higher than it expected due to an enriched zone at Fofina.
Still, it was a mighty quarter for Semafo, bolstering its view it would meet the upper end of its 200,000 to 225,000 ounce gold forecast for production this year.
So it was not much of a surprise today to see Semafo’s shareprice leap, up 10 percent at presstime to C$5.29 and to new 52-week highs.
Mining companies are beset with major investors who browbeat the CEOs and the boards into making major capital cutbacks when metal prices move against them.
They just don’t seem to understand that the time to build major capital projects – and make what may seem like expensive and counter-intuitive investment decisions and acquisitions – is actually at times when metal prices are low. This will enable them to reap the rewards when the mining cycle picks up again as it inevitably will. That is the way the world’s mega miners built their real wealth.
I am probably being unfair in the title here – there are probably plenty of mining CEOs who understand this but they more often than not don’t have the clout to carry their boards and major institutional investors with them. The latter, in particular, tend to look only at the bottom line and the prevailing stock price with their ultra short-term investment outlook, thereby missing the huge upside potential that lies ahead.
As the Elliott Wave followers will point out, all economies move in quite pronounced cycles – there are boom and bust scenarios which repeat over and over again through time – and the mining cycle is more pronounced than most. Major investment decisions are made as the cycle picks up and tend to peak at or near the cyclic top thus bringing big increases in supply on line at around the same time, leading to big surpluses and thus contributing strongly to the succeeding downturn with too much production chasing too little demand.
The smart company that looks to the long term, though, will make its big capital project decisions on the cycle downturns and low points (downturns are good given the length of time it can take to bring a new project on stream nowadays). That’s how the Rio Tinto’s and BHP Billiton’s of the world became the world’s mega miners.
All credit therefore to Rio Tinto’s CEO, Sam Walsh, for slamming the company’s critics who pontificate that it is mad for it to implement major increases in its iron ore and copper production at a time prices have been slipping dramatically given the apparent downturn in Chinese and global demand. BHP Billiton, the world’s biggest diversified miner, has made similar policy decisions as no doubt have a few others waiting in the wings – notably X2 Resources’ Mick Davis, former Xstrata CEO, who is building a massive investment war chest to build a new diversified mining company by acquisition when prices are depressed.
True, these companies do have the financial resources to build production when others are being forced to cut back. There is strong method in their financial madness as seen by some. Take iron ore for example. Companies like Rio Tinto, BHP Billiton and Vale have enormous iron ore resources which can be mined profitably even at much lower iron ore prices than those prevailing at the moment and, of course, what the expansion policy has done is stop in their tracks global new iron ore mine developments predicated on higher iron ore prices from less well financially supported companies.
Much of the world’s unmined high quality iron ore is located in remote areas requiring huge infrastructure commitments to bring them on stream. The longer iron ore prices remain depressed, the further back investment decisions on these new projects will be put. This will allow the mega miners not only to dominate the iron ore market for many years to come, reap huge profits when prices pick up again as much of the competition will have been eradicated, but also to acquire many of the best new projects from their financially distressed owners.
But of course this doesn’t only apply to iron ore. It will apply to coal and copper too – the other two most significant mined minerals/metals. Indeed iron ore, coal and copper hugely dominate global mining. Gold only comes a far distant fourth yet generates most of the coverage. Again BHP Billiton and Rio Tinto are among the Western world’s largest producers of both coal and copper. Continuing investment during low cycle points is how they achieved their dominant positions. Sam Walsh is thus quite right to slam the critics from a company long-term corporate standpoint. The policy will mean that when economies, and the cycle, pick up again Rio and its peers will be even more dominant in the global mining sector.
The wildlife reaches its peak in Kenya. The parks have many natural wonders, including one of the 7 World Wonders: the migration of savage animals in Maasai Mara Natural Reservation. The Maasai tribe lives in this area and is recognizable by its red-painted skin. A huge number of wildebeests periodically cross the border from Tanzania to Kenya, exposed to other animals’ attacks in their journey. Nowhere in the world does something so spectacular happen.
Nairobi National Park and Amboseli are equally impressive. The lakes are also rich in fauna and flora; the mountains can be challenging for climbers and offer great landscapes. In addition, Kenya was the ground of Ancient civilizations, so you should check Kariandusi’s archaeological sites. The Lamu Archipelago includes one of the oldest inhabited towns in Africa. Nairobi and Mombasa are the better-known cities, with various tourist destinations and a very exciting nightlife. Actually, besides coffee plantations, tourism is the most profitable ‘good’.
Kenyans live in communities and value togetherness and solidarity. They can be very friendly and don’t appreciate gossip. They despise selfishness and individualism. People like to hang out in big groups and most of them are passionate about dancing. Cavacha and zouk are popular, but the music in clubs tends to be very diverse. There are many stereotypes about Kenyans, such as the fact men can marry many women. This is very, very rare. It’s true though that cows are a symbolical price for a bride. The prejudice that Kenyans respect tribal deities and have weird rituals remains untrue. Most of them are Christian, either Protestant or Catholic, and less than 10% of the population still holds indigenous beliefs.
They do have some interesting superstitions. They don’t depart with any farewell by night — ‘Good Night’ means you’re wishing the death of that person. What you do at the beginning of the week, of the month or of the year is what you’ll have to go through for that whole period of time. So it’s nice to give someone money on the 1st of January or make them feel good, since it means they’ll have a great year.
Everybody knows Hillary Clinton is running for president and – like last time – she’s acting like she’s already secured the nomination and will be elected.
We know how well that worked out for her last time.
So imagine the surprise when the poll for New Hampshire came out showing that Sanders has 31% to Hillary’s 41%.
The poll is meaningless in terms of predicting how either candidate will do nationally, but it does show that Hillary is far from a “done deal” this time around, especially considering she will also face competition (more serious than with Sanders) from former Maryland governor Martin O’Malley.
Hillary has never been seen as a serious “progressive” by the Left. She’s the establishment candidate and too hawkish on foreign policy causes and too cozy with big corporations for the taste of Liberals. Bernie Sanders has no chance of winning anything except the protest vote but he will force Hillary to tack Left more than she’d like and he may siphon enough votes off if he runs as an independent nationally.
Think of Ross Perot costing George H.W. Bush enough votes to allow Bill Clinton to win back in 1992.
The more momentum Sanders (and O’Malley) build the more Left wing wackos that will come out of the woodwork which will expose more and more Americans to just how extremist the Democratic party has become.
That is why I am hoping Sanders keeps gaining in the polls. What I think will likely happen is O’Malley will win the nomination but the Democrats will be so bloodied by the Leftist in-fighting that they will be heavily weakened and, unless a complete idiot wins the GOP nomination (i.e. Bush) Republicans will take control of the Executive branch.
Car rentals are very common and a number of people are taking cars on rent in order to take care of their daily travelling needs. Some of the car rentals are for outstation travels and some are for daily commute. Irrespective of what your needs are, you need to make sure that you go beyond a car rental and hire a limo for yourself today. A limo is something that not everyone gets to travel in. If you want to make sure that you are travelling in style as well as in comfort then there is nothing better than a Limo rental for you today. All you need to do is go online and check the best limo car hire that is on offer and book a Limo ride for you and your family.
Everyone deserves to ride in a Limo at least once in their lifetime. If you feel that you are going through a lot of stress and you need to unwind then there is nothing better than sitting in the backseat of a limo and enjoying a nice peaceful ride. You can even surprise your family members and ensure that they get the ride of their lifetime in a Limousine.
As you may already be aware a Limo can accommodate more than the standard four people. This means that no matter how big your family is you will be able to get them in a limo and have fun without sitting in a cramped up space. Another benefit of a Limo ride is you get refreshments along the way. Unlike a normal ride in a car where you would have to stop to get refreshments, the refreshments are provided inside a limo and you can even enjoy a drink or two along with your loved ones. You can book a Limo ride for a tour of the city or you can book a Limo ride for a drive to a nearby town. A number of people book Limo rides to get to work on a daily basis. Not only does this help to create a good impression it also ensures that they reach work comfortably. When your day starts on a good note your mindset is excellent and you will not end up losing your temper or getting frustrated through the day.
Another benefit of a Limo ride is you get the most trusted drivers at your doorstep. When you have the best drivers driving you around town you will not have to worry about how reliable their skills are or how reliable the person is. All background checks are done on the drivers and only then are they put on the job. If you have availed of the service before you can even ask for a specific driver that may know the way you like to drive around and your specific stops. This way you will not have to repeat yourself over and over again and you will even get a personalised service if you have the same driver again.
Missouri’s motto is “close to home, far from ordinary” and they are referring to more than just the scenic beauty and historic monuments. Missourians have a fine tradition of both gourmet and down-home cooking and they love to share what they know. Marry your love of cooking and interest in this diverse state by taking a cooking vacation through Missouri. Here’s where to start.
Culinary Sojourn in the Heartland: Rocheport, Missouri
Organized by Epitourean travel, guests will enjoy a three-day gourmet cooking delight. Not only will travelers learn how to make gourmet dinners for two, but they will also get to have private cooking classes, wine tasting at Les Nourgeois Vineyards and luxurious surroundings.
A Thyme for Everything: Lee’s Summit, Missouri
A diamond in the historic downtown area of Lee’s Summit, A Thyme for Everything is a gourmet cooking supply store that hosts wonderful cooking classes to get you started. Take a evening class in Greek cooking, dessert and party cooking or even a selection of chocolate creations just to name a few.
The Inn at Harbour Ridge: Osage Beach, Missouri
This charming bed and breakfast has beautiful rooms and is close to scenic locations around the Lake of the Ozarks, but the real treat is the Wednesday evening cooking classes. Lead by Chef Barbara and the Innkeeper of the Harbour Ridge, you’ll learn how to make some of their signature dishes and desserts.
Silver Dollar City’s Culinary Craft School: Branson, Missouri
Branson is known worldwide for their entertainment, shopping and outdoor activities, and the Culinary Craft School continues to charm with their traditional style and down-home cooking. Learn how to cook great meals with garden fresh ingredients or make “pizza’s with pizzazz.”
Annual Missouri Wine and Food Festival: Excelsior Springs, Missouri
This yearly event features wine and foods from local artisans and includes wine sampling and food cooking demonstrations. Enjoy traditional bluegrass music while relaxing at the Elms resort and Spa over the Independence Day weekend.
Are you single and ready to mingle this summer? If so, you and your buddies or girlfriends should plan a vacation.
There are a hot vacation spots around the world that offer tourists like yourself the opportunity to party, have fun and enjoy the day and night life.
Here are three vacation spots ready to meet any single person’s expectations.
Miami’s South Beach
The first place worth mentioning is Miami’s South beach. This popular vacation spot is fully equipped to ensure fun for singles. For instance, if partying hard is on your agenda then hop into one of the many night clubs to dance the night away (such as Club Deep or Nikki Beach Club). Or, if you’re after seeing some hot bods then you ought to head to the beach where you will find plenty of guys sporting their trunks and ladies showing off their bikinis. South Beach is just a hop skip and a jump from some of Miami’s fine shopping and dining (such as Joe’s Stone Crabs and Café Milano).
Cabo San Lucas
Next on the list is Cabo San Lucas. This popular vacation spot is a must if you’re single. There are plenty of single people packed into this beach city located on the southern tip of Baja, Mexico. This city knows how to keep its visitors happy. From parties to beach strolls you’ll find plenty of reasons to love this city. When you get hungry you will find plenty of great places to dine (such as Cilantro’s and Amarone Ristorante). When night arrives you’ll have some great places to dance or grab a few drinks (Giggling Marlin and Cabo Wabo). And let’s not forget about the shopping. Cabo San Lucas has some great boutiques and stores (such as Puerto Paraiso).
The last place on this list is a well-known vacation spot in Spain. Singles from all over the world flock to Ibiza, Spain. This is another striking place to vacation and have some fun. It’s located off the coast of Spain and is known for satisfied tourists. Those seeking wild parties and white sandy beaches come here. Tourists can also tan, surf and swim in Ibiza. Ibiza is famous for its nightlife. In fact, one of the largest clubs in the world is located in Ibiza. It’s called Privilege. Fine dining is also possible (such as La Perla and Solimar). Shopping at Galy and Egoista can also be fun.
The Hoover Dam and Lake Mead area of Nevada is a very popular Las Vegas side trip. Two to three thousand people visit daily to see the architectural wonder of the dam and experience nature at the Lake Mead National Recreation area.
Hoover Dam is a massive curved wall 660 feet thick at the bottom and 45 feet at the top. It towers 726 feet above bedrock and holds 9.2 trillion gallons of water in Lake Mead.
The Hoover Dam was a significant achievement of its time and accomplished two main goals; it stopped extensive flooding in the spring and summer months, and did away with the dry, rough terrain that lacked irrigation the rest of the year.
It took 6 1/2 years to fill Lake Mead, which is named after Elwood Mead who oversaw the dam’s construction.
Mead Lake and Hoover Dam now provide not only function but recreation. Enjoy boating, camping, lake cruises, fishing and hiking in the Lake Mead National Recreation Area.
Lake Mead and Hoover Dam are known for mild winters and hot summers. The area generally gets less that five inches of rainfall annually.
The Lake Mead National Recreation area is a stark contrast of desert and water, mountains and canyons. The water of the dam flows through one of the hottest, driest regions on the planet to create Lake Mead.
In a survival situation, many people panic because of a lack of wilderness experience or knowledge of survival skills. Even if you lack hard skills, however, you can use simple strategies to prioritize tasks and maintain a positive mental state. By staying focused on your mental clarity, you can use common sense to stay safe until you are rescued.
Stay calm. Although your first instinct in a survival situation will likely be to panic, it is crucial to stay calm and maintain a positive attitude. In the book “Deep Survival,” author Laurence Gonzales explores the factors that allow stranded people to survive despite overwhelming odds. His website mentions that the first aspect of survival is mental; he writes that you should admit to yourself that you are in a survival situation and assign yourself tasks that will aide in your rescue or safety. For example: set up a shelter, find water and gather wood for a fire.
Assess your environment. Prioritize your survival strategies based on the situation. Use your instincts to determine the greatest danger to your personal safety and health, and take the first step to eliminate that risk. If you are stranded in the mountains in the winter, your first goal should be to make a shelter to shield you from snow or rain at night. Then, focus on making a fire to stay warm. If you are in an area where bears are a danger, place any food you have in a high, safe place–hang it from a high tree branch away from your shelter area, for example.
Find water. Dehydration is a serious danger to people in a survival situation. Humans can survive longer without food than without water, so make it a priority to find and collect water. Streams are good options, or you can melt ice or snow. If you are in an area with no immediately available water, the Wilderness Survival website suggests digging a large, deep hole; water will collect in the bottom. You can also collect rainwater in a tarp or waterproof jacket.
Make a fire. In many environments, a fire is important for warmth or to deter animals. If you have matches or a lighter with you, use them. If you do not, you can build a fire with friction. Use your shoelace and pieces of wood to create a bow-drill fire, as described on the Wildwood Survival website: tie the ends around a flexible piece of wood, twist in a narrow spindle and use the bow to rotate the spindle on top of a bottom board to create friction and a coal.
Evaluate movement. Before you move, stop to think carefully about the surrounding area. What knowledge do you have of the terrain? Can you remember a road nearby? Use the sun’s motion to help you find direction, and only move when you have evaluated your safety and set limits for stopping. If you are traveling through mountains, for example, be sure to start early and stop before afternoon weather rolls in. If you are in a hot area, consider traveling during the cooler parts of the morning and late evening to avoid heat stroke and further dehydration.
President Obama has said he wants at least 10,000 Syrian refugees to be flown to the U.S. and re-settled here. Democratic Congressman Dick Durbin wants 65,000 or more to be admitted. Thus far, up to 90% of the Syrian refugees who have been admitted to the U.S. have been Muslim even though Christians are being slaughtered by ISIS and other Islamic groups and having their churches destroyed and their women sold into slavery.
These “refugees” are being dropped, by the Feds, into 190 American cities (PDF link to list). Idaho, for example, is being forced to accommodate 500 Syrians although locals were told expect possibly 2,000 total.
These will be people without family there to take them in, little knowledge of English, uncertain skill sets, no money, unknown health maladies, and from a different culture and religion who have never probably experienced the “freedom” of the West before.
So many refugees are being admitted so quickly that the FBI cannot even conduct background investigations into them so who know how many may harbor terrorist ties.
Why is Obama – and his party – so vested in this forced injection of Muslim refugees?
Probably because Barack Obama dislikes the fundamental nature of the United States and wants to change it. Democrats likely support this influx because they hope these people will vote Democrat and not Republican.
In other words, it is all about changing the country whether the country likes it or not and putting the Republicans out of reach of the Executive Branch – for good.