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Thanks for your thoughts Mr Bond,
With all that's been happening in Egypt recently it's understandable that some people get carried away concerning new miners acquiring access to possible reserves.
However as we realise it took well over a decade and over one and a half billion dollars for Sukari to be where it is today, still Egypt's gold mining industry as it were and likely to be so for some years yet!
Sukari is still the engine room of Centamin, get that back up to full performance and the rest will follow!
I hope you are well.
Martin can only report ,hopfully ,the realistic possibilties and fact, unlike his predeccor.
Gold prices could much improve the profitability,or not.
Impossible to guess as so many have. (Experts ) .
Patience is the key.
Often lacking in so many .
mrtibbles,
Might it be safe to assume that by now enough of the unstable material has been removed to resume mining in the higher grade area ?
Gold now very close to yesterday's peak surge point...
If, in a panic for the exit, the constrainers on the other end of the rope let-go, who knows where Gold might end-up.
Hi Mr Bond,
Hope all is well with you!
Can't say why exactly but I am increasingly confident that Martin Horgan won't disappoint on the next Sukari update!
I can only think that those people/ entities selling have quite low expectations for the future price of Gold. Its strange because I thought the only reason to invest in Gold was a contrarian view on the Central Bank run economy.
If Gold does truely breakout then we are on for taking out the previous high, early chart targets touted last year were in the $2200 to $2500 range. But then the analysts seem to have lost patience with the lengthy Gold consolidation. Good timing with the Infrastructure spending bill now passed.
Wednesday, 11/10/2021 15:40
CONFIRMATION of the worst negative real interest rate for US savers on record saw gold and silver prices leap on Wednesday, breaking through what chart analysts had called key resistance in the yellow precious metal's Dollar price as new US data showed inflation in the world's largest economy racing to its fastest annual pace in more than 3 decades.
Gold priced in the Dollar jumped over $30 per ounce, smashing the $1835 level where this summer's highs met the downtrend starting at summer 2020's all-time peak above $2000.
Gold priced in the single-currency Euro hit a 12-month high at €1610, and the UK gold price in Pounds per ounce rose faster still, up 2.2% inside an hour to reach its highest since January at £1380.
Silver prices also jumped, rising more than $1 per ounce from this time last week to break above $25 for the first time since early August.
Inflation in the headline US consumer-price index jumped last month from 5.4% to 6.2% per year, blowing past analysts' consensus forecasts of 5.8%.
The fastest annual rise in the cost of living since December 1990, last month's figure came only 0.2 percentage off the highest since July 1982.
Back then, US interest rates stood at 12.6% per annum on the Fed Funds overnight target, giving cash savers a positive real return of more than 6% per year.
US interest rates at Christmas 1990 were more than 1% above inflation.
Today, in contrast – and ever since March 2020 marked the start of the US Covid Crisis – the US central bank is holding its key interest rate below 0.10%.
That means cash savers are now suffering the most negative real interest in modern history, facing a loss of purchasing power worse than 6 cents in the Dollar per year.
Good call Razor - They must have heard/read you.
Feel free to feel smug. - Why not. :-)
Lol Razor :-)
Thought it time to repost what I did when gold slid back to ~1846 last night... no change on position for me.
"I think it will hold/rise- the US data at 13:30 was enough to spook many that “transitory” may be a longer “transitory” than the Fed said… here’s hoping - no one know for sure…"
Cowichan, Goldgnome,
Would appreciate your views on the RNS today. Looks good to me, but I'm no mining expert, and only skimmed the 96pages to try to get my SP drivers out of it.
You're a man in the know Razor!!
DaggerMal
Thank you MrBond46 for the heads up. Only two silent now and one of them is prob asleep in a different time zone.
With gold on a roll and the right management focused and pushing Centamin maybe back to a respectable sooner than I had thought.. it’s been a long year in Cey land.
Dog to the park, cheers.
Still here Razors .
Been waiting for somthing worthwhile too comment on.
Yesterday was the right direction,but to early to be certain it will hold.
Cote D Ivorle is good news and well worth much futher investigation.
We have to understand with excellent future prospects.
The instant evelopment money is finite for rapid growth.
So IMO ,the BOD are choosing the best prospects to be more certain of success in the near term.
Hope that makes sense.
Now off for booster virus shot and flu jab.
How times have changed in less than two years.
GLA LTH.
I posted this yesterday…
“ Now that the POG has10 Nov 2021 19:17
Tee’d the share price up it would be nice for the company to release some positive news so the pps would rise even farther…
Or 7am on Tuesday would also hit the mark when they’re presenting at the RBCCM Global Mining & Metals Conference
Glad today happened anyway, it was well overdue.”
Feeling smug about it
:))
The stock has its best in months and Cowichen Mrtibbles and MrBond46 all go missing!
How strange is that.
Perhaps the Egyptian mifia have them.
Speak up folks,
So they spend $90M to deliver $300M in the ground value and 6 years future supply of gold. This adds at least 10% to the value of the company by that time. Centamin is a growth company again. Expect the odd share rally when drill results get delivered and inferred becomes resources and reserves. Positive RNS that could take us a few pennies today.
WITH SPELLCHECK CHANGES UNDONE:
Gosh just what we need, finally good news and alongside rising gold, maybe Horgan has got all the bad out early and left some surprises on the upside as any new ceo does; IF both these (the company and gold) continue in this vein, that target of 110 should be surpassed and my 130 this year looks attainable (famous last words) anyway very pleasing, also both my ITV and Autolus had double figure rises this week, THS and Hoc up 25% in a month….oh now may this just be the start of replacing what has been an annua horribilis (esp building wise)
This one is also useful
https://www.centamin.com/assets/abc-project/
I think this is the correct link?
https://www.centamin.com/media/2454/abc_kona_ni43_101_2021_101121_external_combined.pdf
Gosh just what we need, finally good news and alongside rising gold, maybe Horgan has got all the bad out early and left some surprises on the upside as any new ceo does; IF both these the (company and gold)continue in this vein that target of 110 should be surpassed and my 130 this year looks attainable (famous last words) anyway very pleasing, also both my ITV and autobus had double figure rises this week, THS and Hoc up 25% in a month….oh now may this just be the start of replacing what has been an annua bori iOS (esp building wise)
Centamin plc is pleased to announce that it has filed the?NI43-101?Technical Report ("Technical Report") for the Kona Gold Deposit Mineral Resource update announced on 23 September 2021. The Kona license is one of three prospective licenses spanning 90km within the ABC Project in western Cote d'Ivoire.
The Technical Report is available under the Company's profile on www.sedar.com. The press release in relation to the ABC Mineral Resource update is available on the Company's website via the following link: https://www.centamin.com/media/2436/cey-rns_cme_geology-announcement_final_220921.pdf
FOR MORE INFORMATION, please visit the website www.centamin.com or contact:
European stocks were lower in premarket trading as investors digested earnings reports from companies including Siemens, ArcelorMittal and RWE and awaited several economic data releases from the United Kingdom.
The FTSE lost 0.29%, the DAX declined 0.27% and the CAC fell 0.29% at 6:56 am CET.
The euro traded flat against the dollar, going for 1.14808 at 7:21 am CET and the pound added 0.10% compared to the greenback to sell for 1.34221 at 7:22 am CET.
Breaking the News / NP
Candid, I have already said several times that I invest in several of the major cryptos - the ones I consider the key ones to spread my risk(I would suggest research here as to which ones you prefer and why) I do the same with gold stocks and same across my portfolio with all things :-).
You are right in that I invested years ago and got my initial investment out x3 so even if it goes to zero has been great, but I obviously don’t expect this and it’s worth the risk/benefit for me. As I’ve said a few times, I have not increased my stake in cryptos for now, it would dislodge something else and I’m happy with my overall portfolio from a risk perspective. There remains potential for massive gains and equal losses- I also do not plan to increase my gold stocks holding either- less risk than crypto but gold is my next highest risk asset, and we know these can swing and drop on a single unscheduled RNS like here. Gold mining has big risk but also potential for big gains
I am happy with my portfolio spread, only you can answer the question on what to invest in.
Good luck with whatever you decide :-).