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Somnamna interesting but there will be many KPI's before the ultimate "First Gold pour" somewhere on the new concession. The new concession really is what it says new and it will take a considerable time before we see anything other than words such as promising geology, drilling results etc.
My number one KPI would be get the waste contract done and dusted months earlier than original 4 year contract.
Absolute priority is to reduce strip ratio to 6 or below then we will see realistic cost base..
Good call earlier at 97 Tony- credit where it’s due :-)
Silver currently + 2.79%
and
Gold + 1.50%
Hence the movements - BLOOMBERG just announced 34% chance of 50bps increase where I think if my memory is correct it was ~70% before the data released today…so looks like betting back to 25bps which, of course, helps gold and markets in general- fingers crossed
Paul, Open pit mining is cheaper than going underground but yes there will be a cut off point where the cost of mining outstrips profit. This then depends on the mineral being mined and the value of the mineral. So gold provides more depth and where the cut off is depends on the cost of mining. Super pit is like looking into the Grande Canyon. Centamin still has a long way to go.
Thank you Somnamna, I think the majority of share holders will agree with you!
Lol- I meant "looking a few mins ago" lol
Someone's confident, a few mins ago they just bought 150,000 shares...BTW I don't look at all trades, I just happened to be looing a few ago...
Cowichan, perhaps a JV or other means of monetising the new concession? Horgan should be thinking out of the box on this one to bring value to CEY.
Two ISA accounts active for CEY one at 97p and another ISA averaged down to 104p with 20% position now in play. Will be adding through the spring months as it is guesswork when things will eventually turn a lot higher for Centamin.
All excellent points Somnamna.
I suspect part of the trouble in diversification will be deciding how to best spend Centamin's severely limited exploration budget. Although until the EMRA finalizes the royalty rate for gold exploitation Centamin isn't likely to spend much on drilling beyond the greater Sukari tenement. And given the negotiation process has already dragged on far beyond the one year timeline perhaps the Egyptian government isn't keen to be as competitive as once believed.
I do not envy Mr Horgan in choosing a path forward - with inflation and rising interest rates finding profit will be tough
Major European stocks tumbled ahead of the last session of the week, following the course set by Wall Street yesterday as concerns over the Federal Reserve's upcoming interest rate hike continued to push negative sentiment. Friday's session will also be marked by the final inflation data from Germany and a batch of economic data from the United Kingdom.
The FTSE 100 lost 1.37%, while the DAX sank 1.24% and the CAC 40 declined 1.32% at 6:30 am CET.
Both the euro and the pound traded flat against the dollar at 7:22 am CET to sell for 1.05867 and 1.19234, respectively.
Baha Breaking News (BBN) / ND
Happy Friday y’al
Enjoy your weekend
On page 3 of the March 2023 Corporate Presentation CEY sets out it’s “clear and consistent strategy for delivering long term sustainable growth and returns” comprising:
1. Value maximization at Sukhari
2. Growth and diversification
3. Commitment to shareholder returns
Sadly this is very much a cut and paste from previous years and although valid in the early days for Martin Horgan’s tenure is now well past its sell by date.
Instead of kicking the can down the road it is time CEY updated its strategy by introducing a fourth aspect being “Development and monetization of the 160km2 and new concession” with a clear strategy, objectives, plans and targets.
Development and monetization of the 160km2 and new concession is far too important and of a high priority to be lost in “Growth and diversification”. Also should be made a performance KPI for Martin Horgan et al., with bonuses linked to key performance milestones, eg. first gold, etc.
Hi Steve too much vino rouge so apologies
Doh!!!
Bob
Noooooo! A miss means lower than expected new jobs which is good for gold :-)
Wow Steve , hoping for a miss implies a leveraged short. ???
Round spherical items and composed of Iron ore that has gone through the Bessemer furnace. Hays off if you are correct.
Kindest regards
Bob
Although several years have passed little seems to have improved for the ordinary people of Eygpt , raging inflation, tittle democracy despite the counties natural resources wealth (Gold), If you are able to receive it then this is an interesting documentary about some of the day to day hardships endured by the ordinary people in Eygpt!
https://www.channel5.com/show/ben-fogle-new-lives-in-the-wild/season-6/sahara-north-africa
13:30 tomorrow- a miss please :-)
Approves.
Sorry typo. ;-)
In just one week.
Will be interesting,very interesting.
Fingers crossed the market appruves.
The price of gold rose on Thursday as investors digested the latest jobs data from the United States, which indicated that the labor market might be showing some slight signs of cooling.
Namely, the initial jobless claims in the country increased by 21,000 to 211,000, which was higher than analysts had anticipated. The traders will now turn their focus to nonfarm payrolls, slated for release tomorrow, alongside the latest consumer price report, which will be revealed next week.
Gold advanced 1.11% to go for $1,833.35 per ounce at 10:13 am ET. Silver gained 1.13%, selling at $20.24 per ounce at the same time. Platinum rose 1.54% to $955.24 per ounce at 10:14 am ET. Meanwhile, Palladium lost 1.09% to go for $1,353.88 per ounce concurrently.
Baha Breaking News (BBN) / AY
A slight uptick in job losses which are made up anyway and gold rallies $8 dollars. Some desperate optimism for the NFP tomorrow.
That is the impression we were given Mr Bond, although that was dependent on no unforeseeable occurrences and as we haven't been informed of any as yet then I suppose its a case of "No news is good news!", or keeping our fingers crossed that there won't be any last minute disappointing RNS's announcements in our inboxes!
Somnanma.
When ever the waste contract is finished.
If memory serves me right ,end of this year or start of next.
Stock indexes in Europe traded lower ahead of the Thursday trading session after the latest economic data showed yesterday that fourth-trimester 2022 growth in the Eurozone stagnated on a quarterly basis, but that it grew 1.8% from the same period in 2021. In business news, Credit Suisse said it will delay its 2022 annual report due to discussions with the United States Securities and Exchange Commission.
The DAX decreased by 0.24%, London's FTSE 100 lost 0.23%, the CAC 40 was down 0.11% and the EURO STOXX 50 declined by 0.19% at 8:02 am CET.
The euro was flat compared to the dollar at 7:59 am CET, trading at 1.05532. The British pound was 0.08% higher than the American currency, going for 1.18580 at the same time.
Baha Breaking News (BBN) / MS