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Steve I read somewhere ,probably in a report the Solar was going to save in Diesel costs ,dont remember exactly but it was well in excess of 10 million.
Thanks Bob- yes this is key- and when a major starts a big sell, it's hard to spot as typically lots of small ones and then, as you say, only declared well after the event.
Replace dual with FUEL!
What % of AISC is the diesel element of the dual bill now that we have solar?
this is the key question
Power Supply
Power supply for both stage one and stage two operations phases will be supplied by
medium speed 750/1000 RPM diesel generating sets capable of operating on heavy fuel oil
(HFO) at a viscosity up to 700 centistokes, and generating at 11,000volts at 50HZ. A
35MW power station located at the plant site will consist of 7 x 4MW and 1 x 7MW
engine/alternator sets with associated air coolers, fuel cleaning equipment, switchgear etc.
The power station will be designed to supply nominal output at site based climatic
conditions with minimal derating.
Stage one (oxide and mixed ores) will cater for a load capacity of circa 16,000/17,000kW,
stage two (mixed ores) will cater for a load of circa 22,000kW, while stage three (sulphide
ore) will be only slightly lower than stage two.
The operating mode will be N+1 sets, (where N equals the number of sets required to meet
the load with one additional machine on standby/ repair) operating at an 85% load factor. A
smaller capacity set running on diesel fuel and generating at 400 volts will serve as a black
start facility, as well as emergency power.
The power station main building will consist of:-
• an engine hall containing the generating sets
• auxiliaries annexe containing fuel treatment and engine auxiliary equipment
• switchgear annexe containing generator and main distribution switchgear
• transformer compound containing station earthing, auxiliary and 11kv/33kv step up
transformers.
Fuel (HFO) will be stored in a tank farm adjacent to the power station and incorporate tank
heating for the HFO storage tank(s). The power station auxiliary facilities will include air
start compressors, HFO fuel cleaning and conditioning with facility for sludge removal,
lubrication equipment and prime mover cooling equipment including water treatment.
The power station will operate in a semi automatic mode i.e. normally unattended except
for major load change and machine maintenance selection.
--------------------------------------->>>>
The above is taken from Sukari's Technical Report 43-101F1 Dated March 14, 2012
So it appears Sukari uses heavy diesel oil , which the Ministry of Petroleum says went up 20%
Incidentally using HFO is polluting to the extreme - thus moving to grid power would not only be cheaper but far less destructive to the environment. Sukari's fleet of haul trucks would obviously use regular diesel , which as you say , remains priced the same
Hi Steve
So reinforces my previous posts in that private investors have little influence on SP in comparison to major commercial and top flight institutions which I follow .Basic problem is that they conceal their positions under Market rules in that their substantial move s can be declared on a 24 or 48 hours delay after crystallisation if the event is larger than NMS . S.M rules on ensuring a stable markets.
Many thanks for revealing to this board what holdings in CEY uncovers. Institutions such as Blackrock Schroders etc have the best brains on this planet and life in these major institutions is short if proved lacking. A major plus for my substantial and continuing hold in CEY albeit from a low SP and enjoyment of substantial divis over many tears.
Many thanks again for that reveal. Look forward to RNS shortly on CEY prognostications for current and future
Market move 24 to 48 hours before a good indicator as the market in general is leakier than a colander.
Kind regrds
Bob
I am sure the East will help them out with the Dollar shortage, along with Wheat Shipments, The Arab States are gathering toghether ,
“The price of diesel was kept unchanged at 7.25 Egyptian pounds per litre.”
https://amp.france24.com/en/live-news/20230302-egypt-raises-fuel-prices-amid-spiraling-economic-crisis
Closed with a rise of 1.01% for the day to $1854.61 per Troy ounce.
Egypt has gained emergency liquidity for food supplies via two recent loans — one received in June 2022 from the World Bank and the other in January from the International Islamic Trade Finance Corporation, though an installment from the second loan is late to arrive.
Such is the liquidity shortage, that in a rush to distribute a series of around 18 wheat shipments arriving rapidly at ports over the first two months of the year, the government allowed the wheat into the country without completing customs formalities - the importer said that following due procedures would have entailed a major payout in dollars over a short span of time, so the government promised payment at a later date.
The government food supply agency also rushed through a shipment of imported vegetable oils in the absence of liquid cash to pay for them, said a source in the vegetable oil import sector speaking on condition of anonymity.
Private sector traders importing their goods are not able to secure the same exceptional releases. A private sector grain importer speaking on condition of anonymity said that the situation was moderately better in January, when the government made substantial dollar allocations to relieve port congestion and around 60 to 70 percent of shipments could get through. Now, they said, only around 30 to 40 percent of shipments are making it into the country, and the types of shipment depend on what’s deemed most important. Amid turmoil in the poultry rearing industry, fodder crops had priority over recent weeks, meaning that industrial goods and inputs remain stuck.
Prices continue to rise for consumers as a result. Finished food products, like pasta, are as much as 80 percent more expensive, a source working in the food industry told Mada Masr on condition of anonymity. “Wheat is 100% imported within the private sector, so flour and other derivatives all heavily rely on the dollar.” Dollar scarcity is also affecting their company’s ability to finance the maintenance and operation of machinery at full capacity, they added, foreshadowing more difficulties in future.
As a backlog builds up, so do importers’ liabilities. “Importers deposited pounds with the banks months ago in advance payment for the shipments, then waited for [the equivalent in] dollars to be provided by the banks” and transferred to suppliers.
But with liquidity slow to materialize in the banks, importers have had to top up their deposits, as the Egyptian pound has been devalued on three successive occasions over the past six months. They also have to front cash for additional fees in dollars and euros to the shipping companies that own containers and who are late to get their equipment back since the goods are still lingering in storage at ports. The fines compound weekly.
Traders from various sectors are losing their relationships with suppliers abroad as a result.
https://www.madamasr.com/en/2023/03/02/news/u/inflation-persists-as-dollar-scarcity-holds-up-i
Today, the Ministry of Petroleum and Mineral Resources announced an increase in the prices of petroleum products, following the meeting of the Automatic Pricing Committee for Petroleum Products, which is responsible for following up and implementing pricing mechanisms on a quarterly basis.
The price of diesel oil increased by 20%, to six thousand pounds per ton, while the committee fixed its price for the uses of electricity production and food industries
https://twitter.com/MadaMasr/status/1631323491596156929
TF Metals Report, Craig Hemke, to disclose why central banks are buying more gold than they have in 50 years.
https://www.youtube.com/watch?v=ocmYHl7iGvI&t=38s
Ooops - I got the date wrong, it's US NFP Data next Friday :-).
The Financial Conduct Authority has opened an enforcement investigation into the London Stock Exchange’s (LME) suspension of nickel trading in March 2022, following controversy over its handling of the events.
Nearly a year later, the UK's financial watchdog said today (3 March), that it will investigate some of the LME's "conduct and systems and controls in place" in the period between 1 January 2022 and the time of suspension on 8 March 2022.
https://www.investmentweek.co.uk/news/4076925/fca-enforcement-investigation-lme-nickel-trading-suspension
it's all about the data later-
Its Friday , so gold usually goes down. Usually it gets hammered when America comes on line and when we go off line in the afternoon.
Usually when gold is rising a bit, NOFEAR comes on and starts telling us where it is headed ------and gold falls.
So today Im hoping that he wont come on, America wont smack down gold and we get a nice little rise of ten dollars or so going into the weekend.
Oh---and a few Centamin director buys would still be nice. If any of you are reading, come on and get your hands in your pockets and give us a bit of a boost!
It won't be you who puts the mockers on it lol- it could be the non farm payroll data released today- fingers crossed it's a miss and the ensuing info surrounding it too- and good for gold.
Yes very encouraging as with the direction of Gold Prices.
I will say no more,dont want to put the mockers on it,.
1846 Dollars at the moment.
Welcome back MrBond three days offline per month should be statutory.
Did you see Bank of America commented on m&a in the gold sector plus that they liked the Cey recovery story.
Can’t hurt.
Thanks RazorsEdge.
Just back online after 3 days of nothing, thanks to a storm ,causing major problems here.
It felt like total isolation.
European stock indexes traded higher in the last premarket session of the week on Friday before the release of the latest batch of economic data. Reports on the private sector activity in the Euro Zone, the United Kingdom, and Germany will be published today, while the latter will also reveal its trade balance figures for January.
The DAX went up 0.32%, while the CAC 40 added 0.28% at 7:12 am CET. At the same time, the FTSE 100 climbed 0.31%, and Euro Stoxx 50 advanced 0.46%.
The euro traded 0.15% higher against the dollar at 7:38 am CET to sell for 1.06172, while the pound jumped 0.25% against the American currency to go for 1.19804 concurrently.
Baha Breaking News (BBN) / MX
Happy Friday y’al
Enjoy your weekend.
Speaker(s):
Duncan Hall, Centamin PLC, London, United Kingdom
https://www.linkedin.com/in/duncanjhall15/
PhD geologist with experience in regional mapping and greenfields exploration.
Currently overseeing all technical geological aspects – including planning, implementation, and strategic interpretation of results – of Centamin PLC's Eastern Desert Exploration (EDX) programmes after leading comprehensive prospectivity assessments conducted over the same area during 2021- early 2022.
Monday March 6th
10:24 AM – 10:48 AM
Modern methods in historically endowed terrains: Centamin’s approach to gold exploration in Egypt’s Eastern Desert
https://www.pdac.ca/convention/attendee-info/schedule-at-a-glance
-------------------------------------->>>>
Doesn't say who exactly is presenting on behalf of Centamin, perhaps the BMO Florida conference gang on an extending vacation - ski trip to Canada, anyone?
Major United States stock exchanges registered gains on Thursday as investors dissected the latest remarks by Federal Reserve officials. Atlanta Fed President Raphael Bostic revealed that the central bank could stop interest rate increases by late summer of 2023.
In addition, the positive sentiment seems to have been boosted by Salesforce's earnings report, with the company's shares skyrocketing 12.44% at 2:38 pm ET on the Dow Jones Industrial Average index.
The Dow Jones surged 0.96% or 315 points at 2:30 pm ET, while the Nasdaq 100 rose 0.74% at the same time, and the S&P 500 advanced by 0.59%. The euro traded 0.63% lower against the dollar at 2:31 pm ET, selling for 1.05975.
Baha Breaking News (BBN) / AY
Should bode well for tomorrow’s opening