Stephan Bernstein, CEO of GreenRoc, details the PFS results for the new graphite processing plant. Watch the video here.
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Should say January month in previous.
The worse month for gold I have seen in the last 15 years. The excuse today was December sales in what is a Christmas month.
Tibbs the maiden drill results are very good given it is what it says the maiden drill, to be honest I was very surprised how good the results were.
Blockbusters are few and far between like winning the lottery.
The Egyptian stakeholders I am sure would be impressed that Centamin have something positive so quickly to be honest as I say I was amazed to see anything as good this early in proceedings.
Don't get me wrong it isn't going to be anytime soon that they are extracting gold from these areas but small steps in the right direction.
Tornadotony
If you tell the truth, you don't have to remember anything.
As I see it:
Last financial year 440,974 - AISC 1,399 - Av Gold Price 1,794
Q4 last financial year was 109,564
This Year so far:
Q1+Q2+Q3 = 321,921, therefore 128,079 needed to meet the minimum for the year:
Q1 AISC was 1,348
Q2 AISC was 1,228
Q3 AISC was 1,226
If the min annual guidance gets hit- the Q3 to Q4 increase will be very large and also Q4 last year to this year; the annual amount mined will be an increase also although slight.
If the AISC is similar to the first 3 quarters this year it will be in target and a fair slug lower on Year On Year, and within target.
Therefore, if the OZ target is met I would have thought the market would react accordingly, especially considering the annual gold price will higher.
It's, as always, how you feel if you trade:
1) are you happier to miss out on a possible jump and try to get in on a rise, but remove the risk of a drop if results are poor?
2) are you OK with a possible loss but don't want to miss out on possible jump?
On the 19th Oct (OK so only about 3 weeks into Q4, Horgan stated in the RNS that the annual guidance will be met despite the bumper Q4 needed, albeit lower end, and the AISC will be in the lower end).
Only you can make this choice...
GLA.
With the solid gold price in the forth quarter there could be some surplus cash leading to a one-off dividend or talk of dividend reinstatement.
🤗
Cmon Tibbs the maiden drill results are excellent - little sukari and umm majal both look as if they could be commercially viable and EDX has only been going a year or so?
Thank you Henderson!
HI Dasut,
i have a nagging suspicion that we are still living in false hope of anything above mediocre and yet more promises of some time in the future the good times are coming , they may be for these on the top table who likely will get more free shares for basically not doing anything really apart from spinning us along with the same old rhetoric, just like our government really!
I asked an insider why the lack of any real news from Centmin and about the less than inspiring Encouraging Maiden Drill EDX results January 2024, see their answer below
I think the lack of response re Centamin is to do with the lack of a blockbuster discovery from their exploration so far. That may still happen, but clearly hasn’t as yet!
I would have thought there is nothing more they can say at this stage beyond what they issued.
Reading between the lines, they also had to come out with something positive to make sure their Egyptian stakeholder (ie the government) is aware that they are doing what they said they would be doing.
Henderson may well be better informed then we are all aware as yet!
Jeremy Hunt increased the duty on tobacco and alcohol so of course they have gone up in price, supermarkets profit margin per litre on unleaded in 2019 was 3.5p in 2024 profit margin is 10p.
Inflation falling later in the year my a(rse!
Mhenderson
I hope it was not a big lie.
Tony
I am not sure guessing tomorrow's numbers does us any good. As Steve says results are all that counts and tomorrow we will find out whether Centamin can meet the low end targets which I feel will be a disappointing year. To achieve the low end numbers they will need a close to record performance. Is this achievable yes it is as they have the equipment to move the tonnage, a number of benches to work from and they had some ounces sitting on the ROM after shortfall 3rd Qtr but it will depend on ore grades.
Gomez9
No one can disclose his sources .
For the lie I will keep it for awhile now, will be posted soon.
again don't worry they got 450k this is the truth now.
Hi Tony,
Being an election year its all about political rhetoric to justify a system that is broken, the FED is short on truth and the market doesn't care about truth as long as theirs an excuse to churn the shares!
M Henderson
This is not a dig, as you were correct last time- would be good if you clarify what you said before please:
You also said “ and for the answer for your question ..there is another Lie by the end of year to trying to achieve the year target numbers.”
Was it from your same source that now invalidates this by making 450k?
Thank you 3bear , mrtibbles for your words.
I am a very reserved person , I only speak when I am 100% confident in what I say.
Stocks came in wobbly this morning, as the bipolar market stance towards Fed rate cuts went bearish again.
This despite the shockingly bad Empire State Manufacturing Index.
And so the Dollar rallied quite handily.
Gold and silver fell.
VIX rose, but fell back in the afternoon as stocks managed to pare most of their losses.
The geopolitical situation is getting increasingly ugly.
Mispriced risks abounding.
It is difficult to take most of the short term moves in the markets too seriously.
Kind of like the results of the lightly participated Iowa caucus which garners attention only because of its early scheduling.
New Hampshire will be significantly more interesting as always.
There will be the monthly stock option expiration on Friday.
----------------------------------------------------------------------------------------
Empire State manufacturing Index was -48%. In the background jobs data was pointing out a loss of 100,000 jobs in warehousing. Short term moves just following FED utterances until more bad data arrives. Sanders claiming Biden making USA look like Germany post world war 1 is also quite something. Yet USD goes higher.
The number two gold miner announced its preliminary full year and fourth quarter 2023 production results yesterday.
Copper dipped, too, 420 million pounds in 2023 compared to 440 million pounds in 2022. Barrick noted that both copper and gold production was within its guidance. Gold production was also up for Q4 compared to Q3.
In Q4 the average market price for gold was up, $1,971 per ounce compared to $1,726 per ounce a year ago.
Barrick Gold dropped 5% to $22.44 a share. It was a down day for the gold miners with the GDX off 3.94%.
http://tinyurl.com/2p9rp74x
In the title
https://www.bbc.co.uk/news/live/business-67998084
You have more sources than Heinz Mr T. By the law of averages they will always be right at some point as well as being wrong- reminds me of that old Johnny Ball show “think of a number”- and if your latest number is indeed correct, it will still be pure luck. At some point you have to right.
Major European stock equities traded lower during the premarket hours on Wednesday as market participants anticipated fresh readings on consumer and inflation prices in the United Kingdom.
In the coming hours, Eurostat will publish an inflation report for the euro area, which could shape the European Central Bank's monetary policy this year. Meanwhile, French President Emmanuel Macron and Spanish Prime Minister Pedro Sanchez will take the stage at the World Economic Forum in Davos later today.
London's FTSE 100 slumped 1.05%.
The Euro Stoxx 50 fell 1.06%.
Frankfurt's DAX fell 0.42%.
The CAC 40 dropped 0.54%.
The euro was down 0.09% against the dollar, to sell at 1.08630, trading at its lowest level since mid-December minutes before. The pound sterling dipped 0.16% versus the greenback, going for 1.26101.
Baha Breaking News (BBN) / AB
Happy hump y’al
Gold currently $2018.50
Down 8% today on Q3 production number, this even if are better than previous quarters.
Hmmmm I am a bit concerned on the whole sector in view of this market reaction, I mean Barrick is trading at some PE of 37, a bit steep imo, and I wonder if a correction of the gold major, will affect also the smaller miners in the sector.
Thank you M Henderson for having the courage to speak out prior to the event, that demonstrates great confidence in your statement.
Canada's B2Gold is negotiating to cede six licenses it owns to search and explore for gold in Egypt in the Eastern Desert to Canada's Lotus Gold, according to government officials who spoke with Al Sharq on condition of anonymity.
In July 2021, Bto Gold of Canada signed a contract with the Mineral Resources Authority in Egypt to inject investments estimated at $ 8 million to research and explore for الذهب gold in 6 sectors in the Eastern Desert, which it obtained in the first gold auction that took place in 2020.
One Egyptian official attributed the reason for B2 Gold waiving the licenses to its desire to focus its activity on one of the mines it recently acquired in South Africa, as well as the slow procedures for obtaining approvals for gold exploration operations in Egypt.
Egypt to launch global gold exploration bidding in the first quarter of 2024
Conditions for transfer of ownership
In March 2021, the Egyptian General Authority for Mineral Resources signed 25 contracts for gold research and exploration for 7 international companies and 4 Egyptian companies, in 75 sectors in the Eastern Desert, with investments estimated at $ 57 million.
Bidding winners include Australia's Centamin, Canadian companies Barrick Gold, Be to Gold, Lotus Gold, Red Sea Resources, Egypt's MEDAF, Al Abadi Mining, North Africa Mining, Nuba Mines, and Ibdaa for Gold.
English, Canadian and Egyptian companies won an international tender to explore for gold and minerals in Egypt's eastern desert last June in 8 regions to 4 foreign and local companies.
A government official told Al-Sharq that the two sides informed Egypt's Mineral Resources Authority of the negotiations and asked the authority to specify the legal conditions and mechanisms related to approving property transfers.
In 2019, Egypt passed a new mining law to encourage gold mining, with royalties and taxes instead of sharing production.
Canada's Aton Resources to start gold production in Egypt by 2025
Egyptians bring about 3.3 tons of gold from abroad in 6 months
Egypt withdraws a concession area to search for gold from Cyprus' SMW Gold
Egypt extends closing date for gold exploration until November
"Shalateen" aims to raise gold deliveries to the "Central Bank of Egypt" by a third
Egypt signs contracts for the commercial exploitation of gold discoveries within days
http://tinyurl.com/5n78amxh
Hi Tony,
Yes correct 438,000oz in total, although that was from a new source so I an unable to vouch for the accuracy of the figures at this stage, but happy to be wrong and hopefully it may be more if M Henderson is correct!