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Leading commentator Josh Mahony from IG - are we seeing a US$ revaluation? Watch here

Leading commentator Josh Mahony from IG - are we seeing a US$ revaluation?

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Member Since: Sun, 11th Dec 2011

Number of Share Chat Posts (all time): 1,629
Number of Share Chat Posts (last 30 days): 21

Last Posted: Mon 20:02

Post Distribution over the last 30 days

Mon 20:02

346kg shipment arrived at Cairo Airport tonight from Al-Sukary.
Sun 00:08

Officials at the ministry of petroleum and mineral resources are expecting changes including the removal of Mr.Taema after the report he had submitted . The change is expected to take place this week. The petroleum minister informed "the leadership" that what Mr.Taema had done was unacceptable and unprecedented. This comes after president Al-Sisi had pointed out recently the weak investment in the mineral resources field.
Sat 13:51

In the above link: The petroleum minister is expected to sack a senior official in charge of an authority reporting to the ministry. This came after a few days of documents appeared which condemned the official and confirmed his failure in running the authority which he is in charge of.
Also in the same link news about appointing Mr Sameh Fahmy, the minister who signed Centamin contracts, as the CEO of a large petroleum company after clearing him of all the corruption charges against him.
11 Aug '17

I hope you don't build your hopes very high up guys :)
Obviously there is no chance of Mr. ElRaghy taking such a job.
The name that got mentioned a few times as the new head of EMRA was Mr. Ayman El-Saay. He is currently the president of the Egyptian company for mineral resources and was appointed at this position by the current petroleum minister last summer.
Let's wait and see..
11 Aug '17

I heard now from 2 different people that Mr Taema is definitely going. They think the official news will be announced next week where his successor would have been chosen. Mr Taema was the one behind the production share and fought for it. I don't know whether his departure would change things or not, still to be seen.

The news of his departure started to filter in the news The above link talks about the head of an Egyptian Mineral company is going to replace Mr Taema very soon which is causing chaos at EMRA as workers at EMRA think very worry times are ahead of them.
10 Aug '17

233kg shipment arrived tonight at Cairo Airport from Alsukary.

This is the second shipment this week , with 303kg on Monday, so total 536kg this week. excellent week.
10 Aug '17رئيس-هيئة-الثروة-المعدنية-لـ-باور-نيوز

This old link explains the dispute between Mr.Taema and the deputy of petroleum ministry for mineral resources about the disagreement about taxes/royalties and production share.
10 Aug '17

Still no news about the sacking, but it seems like it's true. The above link reports that the monitoring authorities are investigating after Mr. Taema reported to them that the Prime minister and the petroleum minister have approved to extended the licence agreement of one of the mines without consulting EMRA which he considered a waste of public money. The authorities started the investigation and the PM and the petroleum minister also formed an investigating committee headed by the deputy petroleum ministry for mineral resources (who is on an opposite side to Mr. Taema as he was the one that was pushing for taxes and royalties scheme rather than production share and had various encounters with Mr. Taema).
Very stupid move of Mr.Taema to report the PM and the petroleum minister!!
10 Aug '17

I'm hearing that Mr Omar Taema (President of EMRA) has been sacked, but can't find official news or media reports yet.
I will try to find out more and let you now.
9 Aug '17

Tiger, I think the market is wrong and I believe 100% that CEY will achieve its 540k guidance and the people I know are confident of doing so..

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