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Centamin PLC Share Chat (CEY)

Share Price: 89.70Bid: 89.66Ask: 89.74Change: -0.86 (-0.95%)Faller - Centamin
Spread: 0.08Spread as %: 0.09%Open: 91.06High: 91.06Low: 89.30Yesterday’s Close: 90.56

Share Discussion for Centamin PLC

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Posts: 9,002
Opinion:No Opinion
RE: Longer Pres. Terms Key To Changes
22 Apr '19
re "Many mines would need to be built."

Under present terms that is'nt going to happen, not one of the companies who won the last round of concessions has even started to do much apart from complain that the terms of their concessions are not commercially viable.

The only gold producer Centamin's which according to some enjoys a supposedly favourable profit share agreement in its present form is not as profitable ,especially with the low ore grades, the cut in output and the increased AISC.
Posts: 9,002
Opinion:No Opinion
RE: Longer Pres. Terms Key To Changes
22 Apr '19
Good interview Cowichan,
Once again it highlights just how much Egypt is being held back by outdated and completely out of touch attitudes and the urgent need for change!

So what is the probability of this change taking place I wonder, past experience is that there are lots of fine statements and proposals and then nothing happens because whatever is proposed is deemed to be unconstitutional or undemocratic.

Interesting paragraph though - Let's talk about the mining industry in Egypt, and how this sector is really suffering now.

Unfortunately, the terms that were set to explore gold ore in 2016 didn't help a lot. This sector and its laws and regulations need to be totally restructured in way that can attract investors in similar countries like Australia, South Africa, and Morocco.

I have always said that Law32 has done Centamin no favours!

Lets hope that Sisi gives those obstructing change a kick up the butt!

We need that court case settled!

We also need some better grades and production output fully restored at Suaki performance at Sukari including some decent ore from Cleopatra and some real evidence that there is actully going to be soem ore coming out of Burkina Faso.

Trumps selfish oil embargoes against Iran & Venezuela have pushed up the AISC and his home policies and trade tariffs have not been good for the POG, but Trump is an inward thinking greedy politician who is far to bigoted to change and so we probably have to wait until he gets kicked out or loses the next election for any change.
Posts: 1,281
Opinion:No Opinion
Longer Pres. Terms Key To Changes
22 Apr '19
Snippets from an interview:

The Takeaway: The changes to presidential term limits voted on this weekend will usher in the mandate needed to implement new investment laws... we'll see!!

In an exclusive interview with Daily News Egypt, former minister of petroleum and mineral resources, Osama Kamal, unveiled several facts about this sector, explaining the potential that Egypt has and what qualifies it to become the economic capital of the Middle East.

From your perspective, how do the projected constitutional amendments overshadow the economy and investment scene in Egypt?

I expect that Egypt is to experience massive structural changes after the constitutional amendments are in effect, as it paves the way to more stability in the economic, political, and social aspects, causing the stability that the investment atmosphere requires.

According to your experience, what are the benefits that our economy can reap from exploiting our neglected wealth of mineral resources?

Egypt has a wealth of mineral ores. According to a recent study the outcome of our mineral resources for the national economy ranges between an annual EGP 800m and EGP 900m. But, this average could jump to record $10bn within five years, if this wealth started to be tapped.

That's a very large increase. Many mines would need to be built...

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