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Thank you Siko,it sounds like False and misleading information,which reportable.
Hi Siko,
Great to hear from you, hope that you are well!
Thank you so much for the clarification.
Best
Tibbs
Do you really think that any reputable company should release an RNS because someone made an account a couple of days ago on a bulletin board and wrote that the company had problems, without any source or link?
If so, it would be a joke.
Does that claimant understands the obligations of the company to release such information, especially when it involves stopping production, and it's been more than 10 days ago according to him?
There is absolutely no news whatsoever in Egypt about any issues at the mine, unless the claimant directs us to those (circulating rumours)..
I promised myself to watch from far as a non-holder, but sometimes I can't just keep my promises!!
Siko
[The mining sector] is at the mercy of banks, so if [banks] want to move these metals to whatever price they want to move them to, they can do it relatively easily" he claimed. "I wouldn't necessarily call it manipulation. I think it's just managing the book."
Keith Neumeyer is a long-time advocate of silver miners forming a consortium so that they can sell silver directly to consumers, instead of going through derivatives markets like the COMEX and LBMA.
Automotive companies like Tesla could soon purchase silver mines, as they seek to control supply over critical metals required for electric vehicles.
That's according to Keith Neumeyer, President and CEO of First Majestic Silver who forecasts that this, combined with other demand-driven factors, will send the price of silver up to $125 per ounce.
https://rb.gy/rc8sm
Where indeed Mr Bond, that's the question which I doubt M Henderson will be able to answer!
MHenderson,
I am sure that you realise that such a claim especially of an event or circumstances that has the potential to affect market confidence and the company value is going to be disregarded unless the claim is substantiated with supporting evidence.
So in view of your reluctance or inability to provide any supporting evidence and indeed no obligatory RNS from the company such a claim must be regarded as malicious or misinformed rumour lacking any credibility!
Mhenderson
How is the short on CEY shares going on your CFDs?
Tony
All,
without going in details, this information circulating there, a technical issues will affect the production numbers for coming weeks ,so I asked for clarifications.
let's wait and see.
Equities in Europe traded higher in the premarket on Thursday in anticipation of the European Central Bank's (ECB) newest decision regarding interest rates. A report on Switzerland's producer and import prices will also be published today.
At 7:43 am CET, the DAX went up 0.33%. Both the FTSE 100 and the Euro Stoxx 50 increased 0.36% and 0.34% simultaneously. The CAC 40 gained 0.11% at the same time. The euro was up 0.20% against the dollar at 7:44 am CET, selling for 1.07504. The pound was up against the dollar by 0.08% and went for 1.25000 at the same time.
Baha Breaking News (BBN) / DD
Lots of talk about the privatization program in #Egypt, meanwhile army-owned National Service Project Organization (NSPO) acquires 24% stakes in (three) private steel companies from Beshay Steel
https://twitter.com/EduardCousin/status/1701834003957928215
--->>
The National Service Projects Organization, which was established in 1979 with the aim of achieving relative self-sufficiency in the needs of the armed forces and supplying the local market, owns 63 companies in 6 basic sectors: “food”, “heavy industries”, “contracting and services”, and “internal trade”. “Foreign Affairs,” “Mining,” and “Oil and Gas.”
The deals took place on the shares of the companies “Egyptian Sponge Iron and Steel”, “Egyptian American Steel Rolling Mills”, and “International Steel Rolling Mills” in the over-the-counter market on the Egyptian Stock Exchange.
Egyptian Stock Exchange data showed that the deals were made through EFG Brokerage, which accounted for 80% of trading yesterday, Monday, with more than 20 billion pounds.
Beshai Steel Group, established in 1948, is one of the largest iron and steel producers in Egypt
https://www.asharqbusiness.com/article/54362/%D8%AC%D9%87%D8%A7%D8%B2-%D8%A7%D9%84%D8%AE%D8%AF%D9%85%D8%A9-%D8%A7%D9%84%D9%88%D8%B7%D9%86%D9%8A%D8%A9-%D8%A8%D9%85%D8%B5%D8%B1-%D9%8A%D8%B3%D8%AA%D8%AD%D9%88%D8%B0-%D8%B9%D9%84%D9%89-24-%D9%85%D9%86-3-%D8%B4%D8%B1%D9%83%D8%A7%D8%AA-%D9%84%D9%84%D8%B5%D9%84%D8%A8/
----------------------------->>>
The Egyptian Army's tentacles just get longer and longer , despite what Sisi tells the international community (of lenders)
According to a recent World Bank report, Egypt's food subsidy program is the largest in the Middle East and North Africa (MENA) region. The bread subsidy programme serves 72 million citizens, and the food ration cards cover more than 64 million people.
The cost of annual food subsidies in Egypt has reached EGP 127.7 billion ($4.13 billion) for the fiscal year (FY) 2023/2024, said Minister of Supply and Internal Trade Ali Moselhi, according to a statement on Wednesday.
https://english.ahram.org.eg/NewsContent/3/12/508332/Business/Economy/Egypt%E2%80%99s-food-subsidies-surges-by--in-the-FY-.aspx
----------------------------->>>>
Note: Egypt has 109 million people total - so approx. 3 out of every 4 persons in Egypt needs a handout just to eat , astounding (and frightening if you are a bankrupt dictator like Sisi)
Steve, Rebess, Cowichan,Mr Bond,Tornado,3bear,Mary & other members,
I have this evening written to Centamin & FTI asking for clarification one way or the other.
Tibbs
Hi Rebess, I agree, Q3 was always going to be a teller! let's hope this time that we will be at last pleasantly surprised rather than as in the past disappointed!
Thank you for the info Cowichan,
Please keep us updated via your Sukari contacts.
Summary: Some London-listed companies, facing wide valuation gaps, are looking to the US
The boss of a newly listed gold mining company has said that its future lies in Toronto and New York, as more precious metals miners are bypassing the LSE.
Allied Gold, an Africa-focused producer, listed in Canada on Monday in the country’s largest mining initial public offering since 2010 with a market capitalisation of C$1.3bn on the first day.
Peter Marrone, chair and chief executive of Allied Gold since April, said that the company had been considering listing in London about 18 months ago, but it will most probably opt for a New York via Toronto route.
“New York is a very interesting place. There’s a lot of money that is a multiple of what one finds in the rest of the world,” he said in an interview. “In the precious metals world, they are becoming more comfortable with the emerging markets.”
The change in listing plans for Toronto-based Allied Gold comes after Johannesburg-based AngloGold Ashanti announced plans in May to switch its primary listing to New York in pursuit of a higher valuation underpinned by the US east coast city’s large pool of investors.
London has long been home to Russian gold producers but the likes of Polymetal and Polyus have been forced to pursue delisting plans following western sanctions in response to Russia’s invasion of Ukraine.
The London market’s waning ability to attract companies is not limited to gold miners, however.
Among companies opting for a US listing include Irish paper maker Smurfit Kappa which is moving its primary listing to the US and UK-based chip designer Arm, which opted for a New York IPO. WeSoda, which produces soda ash in Turkey, pulled out of a $7.5bn London IPO earlier this year.
London has historically been the home for natural resource companies whose production is based in Africa owing to the timezone, but Marrone believes that the UK capital’s investors have become increasingly skittish about emerging market risk.
“Whereas in the past, Europe and London had a better focus on Africa and emerging markets in Asia and some parts of Europe, I think the American portfolio manager is now catching on to that. I think the landscape is changing,”
Marrone is the former chair of Yamana, which added a secondary London listing in 2020 before being sold last year for $4.2bn
Allied Gold operates three mines in Mali & Ivory Coast that produce 375,000 ounces. Marrone aims to lift output to more than 700,000 ounces.
Marrone said he consider opportunities for mergers and acquisitions to build a portfolio of emerging market gold mines, which could include partnering with competitors to buy bigger rivals and divide up their assets.
“I would like to get to a platform of 1mn to 1.5mn ounces per year that leans towards the emerging markets,”
For what it's worth I've not seen any indication of a 10 day plant shutdown via the Sukari workers on LinkedIn - esp. one that was unplanned (other than standard maintenance)
Therefore I'd be very surprised if it turns out to be true.
Additionally, the gravity circuit must be nearing a state of readiness, so I would expect some high grade bonanza ore to be processed soon - which should give Q4 a boost across the finish line
My post 26th July following Q2 numbers- Let's hope that things are not playing out as predicted here.
Re Results26 Jul 2023 09:57
Still on course, that's the main thing. - Avoided a kick in the crutch - always welcome. - Agree with Sotolo's take. -an interesting management strategy in putting a $1900 floor under the price covering the next 12 months. - Clearly, a thought out chess move for planning/insurance. - Grades disappointing I thought, an upgrade here would make a difference going forward. - All eyes on Q3 now, the truth quarter, the quarter where they run out of road for bending facts/forecasts. The quarter where if there has been skullduggery, they have to create/invent a cover. - A quarter where all sorts of unexpected and undesirable circumstances can suddenly manifest, affecting all the well laid plans. - However, let's not be too cynical, let's rejoice and welcome a black-eye free quarterly report. :)
Siko would know whether there is truth in the rumour or not. - Siko old friend - are you there?
Hi Mr Bond - I haven't a clue. - I've only picked up on the comment on this forum. - However, I have plenty of experience when it comes to the trickery that Centamin employs from time to time when they seek to cover up.
As a new poster, has nhenderson been put in place strategically, to break the news about the plant close down. - As others have commented, it seems a strange and mysterious communication. - Not accusing you nhenderson, but can you clarify please?
Rebess where is this "News" circulating ?
I think he is saying that he wishes there was an RNS about the circulating news, rather than that there has been an RNS.
This of course is the truth qtr. coming up. - If they've been spoofing about production forecast/figures, they have to find a way to cover up. - Not saying this is what's happened, but some sort of setback, in this case loss of production, is a device they can use as cover. - They've done it before.
Where and when was this mysterious RNS ?
Meant to panic no doubt, sounds familiar dosnt it!!
The poster not coming back to answer previous questions , Why!
Possibly still asleep.