Latest news with #KaiHoffman
BBC News
3 days ago
- Entertainment
- BBC News
Broadstairs Folk Week celebrates 60 years of festival success
Thousands of people have been flocking to Broadstairs this week as the town marked the 60th anniversary of its annual folk music in 1965 by a local teacher called Jack Hamilton, Broadstairs Folk Week has since become an annual highlight, drawing crowds to the area from all over the country. With 2025's outing having featured more than 400 events in over 20 venues, many of which were free, the bash is reported to bring in millions to the local director and musician Kai Hoffman, who also performs there, described it as having "a really wonderful buzz and a lovely family atmosphere". Taking place in Pierremont Park, as it has done since its inception, Friday's final day represents the culmination of months of hard work and planning for Ms Hoffman and her 250-strong team of volunteers. But she said the stress was all worth it to see "all the smiling faces of people having great time"."You've got the bandstand in full swing with Morris dancers, buskers everywhere all doing their thing and there's a family ceilidh going on at top of the hill - there's so many things to do."And we've been really lucky with the weather this time too."Ms Hoffman estimated that the folk festival attracted up to 100,000 people annually."It brings a lot of money into the town, and a lot of local businesses say it helps them carry on throughout the rest of the year." For regular attendee Ann Hilton, 74, it has been an annual staple since she was a young."I was 15 when I first came here with my family and I've been coming ever since," she said. "Even when I got married I'd bring my husband - he had no choice in the matter."She added that, while the event had since grown in size, its original plan to "bring traditional English customs to those who weren't aware of them" was still very others though, like one 92-year old woman who had arrived by coach, it was all about "the music, smiling and having a jig about.""'Fun' is the one word to describe it, really," said another reveller. "The people are fantastic and the vibe is great."
CBC
21-03-2025
- Business
- CBC
'The sky's the limit': gold price reaches record high, but not all northern Ontario miners are cashing in
Northern Ontario gold miners from Dubreuilville to Matachewan are celebrating as the price of gold continues to reach record heights, now trading above $3,000 USD an ounce for the first time in history. "I'm super excited. It seems unbelievable that we've reached that top. A lot of commentators predicted $3,000, but it seemed unreal, honestly. It still feels a bit unreal because the move has been really, really fast," said Kai Hoffman, CEO of Soar Financial Group. "I'm also a bit worried. I'm excited and worried at the same time because the move has been so violent, for lack of a better term." Hoffman, a financial analyst based in Frankfurt, Germany who has been closely tracking the gold market and its implications for the Canadian mining sector, said prices rarely go straight up without a dramatic crash. "It's just really the hype and a lot of gut feel as well, gold coming back into the mainstream discussions, Joe Rogan, Elon Musk, Donald Trump, mentioning gold… it was just bringing a lot of interest and a lot of eyeballs back to gold, which is great in general. But I'm little worried that it's too much too fast," said Hoffman, adding that he believes a $300 or $200 correction would be healthy to "shake some loose hands out of the market." He said for gold mining companies in Timmins, Kirkland Lake and elsewhere in northern Ontario, cash flow is "exploding" and costs have been "somewhat under control," with no significant "cost pressures" on gold miners since the price of oil has been dropping. Hoffman pointed to reports from Agnico Eagle, which has two gold mines in the northeast, listing per ounce production costs at $1,200 USD, meaning the company is getting $1,800 USD profit per ounce of gold. However, he said northern Ontario's junior gold exploration sector is still struggling to attract investors needed to turn deposits into actual mines. "The risk appetite for the juniors hasn't really come back," Hoffman said. "So the grassroots explorers are still struggling a little bit." Why the increase? The sharp rise in gold prices is driven by several factors, including geopolitical tensions such as Russia's war on Ukraine, instability in the Middle East and economic uncertainty stemming from global trade disputes, explained Hoffman. Additionally, central bank purchases from Eastern countries like Poland and the US repatriating gold to the COMEX have further heightened market uncertainty, pushing gold prices even higher. Gold prices have spiked. Why hasn't northern gold mining? 20 days ago Duration 1:43 While gold prices have skyrocketed this year, a new report is suggesting exploration hasn't. Caitrin Pilkington explains why, When it comes to investing in gold, Hoffman explained that there's a difference between physical gold and gold mining stocks. Physical gold is a "safe haven" investment, while mining stocks offer higher risk. As for the future, Hoffman believes the momentum behind gold is building. "The sky's the limit. There's so much uncertainty that is driving prices right now, I don't think world peace is on the agenda just yet, so there's more room," he said.
