Tim Watts, CFO at Shield Therapeutics #STX presenting at our Life Sciences Investor Briefing Watch Now
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Some of the long time holders on here will remember our old friend "Sinnerthesaint" who contributed some really informative posts over the years before moving on because he didn't see an end to the court case anytime soon!
Sinner quite an authority on company law and legal issues so thought some of the newer members on here may find this post from 2015 interesting.
I did pass Siiners view onto the Centamin IR unit at that time for comment, none were received back though.
"'Concession Agreement Law 222' is still in place, uncontested" - It is being contested by Al-Fakharany, this is his appeal as part of the case Al-F vs EMRA.
"The question would be how large an area both parties are likely to agree to. - 160km2 or less or more" - The parties in question here being EMRA and Centamin, both parties already agree on 160 sqKm. Remember, it is Al-F who by trying to put the whole concession agreement into question has unravelled a mystery in the original court with regards to the contract.
"I'm surprised this step hasn't already been taken as an expedient to bringing it all to an end" - As I explained above, unless there is some kind of settlement with Al-F, then it doesn't matter if Centamin and EMRA agrees, disagrees or re-agrees a new area.
I believe that Al-F will lose appeal on Concession Agreement as that was a law set by parliament. Issues with the contract itself, if the court decides there are any, will probably range between a special committee including Minister of Justice, Investment etc .. resolving it or it being kicked back to parliament (This could be dealt with by Sisi but with reference to his behaviours, I believe he will leave it for parliament).
I realise fully that this view point throws a thousand more questions .. such as what happens in the meantime, can the mine close .. what happens to PGM etc etc .. But before all this gets answered, I believe there is one important point to take notice of and that is Centamin is unlikely to agree on much less than 160 sqKm. and that is because of the high chance they'd win the case in an international court. Good strategy for very long term holders but short term holders will probably highly suffer.
All this however will not tell us how the price will behave in the market in the short-term.
Opened up by 2.45p but as usual gets knocked back despite the POG still $1314
European stocks traded mostly lower in premarket transactions on Monday after it was revealed late last week that Chinese trade officials decided to cut their trip to the United States short and not visit US farmers. Meanwhile, United Kingdom Prime Minister Boris Johnson expressed hope that the US and UK would sign a trade deal by next July. A fresh batch of European economic data is expected once the session starts, including new PMI figures from Germany and the EU.
Germany's DAX was 0.30% in the red at 7:29 am CET. and the FTSE 100 in London was flat, increasing 0.03% at the same time. The CAC 40 lost 0.07% at 7:30 am CET.
The euro was flat against the dollar as it traded 0.01% higher for 1.10212 at 7:31 am CET. The pound was also flat, but it declined 0.02% at 7:31 am CET to change hands at 1.24698.
Breaking the News / VP
ndia's Economic Times today reports that machines for faking brand stamps from the leading small bar manufacturers in Switzerland have been found in Mumbai's Zaveri Bazaar
"Fake bars have impurities embedded in them and are sold at rates for genuine bars," says ET, "causing huge losses to genuine manufacturers."
The third Friday of September is typically a quadruple witching day, which sounds like magic but actually describes a logical yet hectic event. The four things the “quadruple” refers to are the expiration of contracts for stock index futures, stock index options, stock options, and single stock futures.
Triple Witching HOUR
Triple witching hour is the last hour of the stock market trading session on the third Friday of every March, June, September, and December.
I think CEY undersells itself, which is possibly a good long term things for investors. Overselling is definitely not good.
I like the hits there are getting 500m deeper than the ore reserve, this is minable, and so there will be a significant tail on this mining operation for maybe a decade (!), if not more.
I am more than interested in the 3d seismic referred to, as this has an excellent track record of delivering discoveries in more complex terrains in Western Australia.
I thinnk there is a great story unfolding, and I am not going to be surprised to see them mining gold very profitably in 20 years time.
Assets in Cote I'Voire are very good, and post election (Oct 2020 - my tip is that there will be no problems here, as everyone is still so sick of what happened previously), I will not be surprised to see these developed and the production profile expanded by 150,000 ounces pa, in 2021 but in the meantime the exploration results and result will grow. The gold occurrences in the NE of CdI is part of a big system.
OH, my memory must been faded. Damn, if I notice that how much he sold I would never add any more since. I wish good luck to our self now. and recover some of our losses.
Thanks for Cowichan for the link Denver conference.
I agree Tibbs- I think Andrew was in the right place and time for CEO promotion but he does not inspire and personally think he is not a natural good communicator for these events-surely a Comms Manager would do better. I possibly think CEY could improve with a new CEO for all operational areas-dreaming.
Sound like we should get 490, 000 and a bit?? -I hope so and good news coming down the track with Solar and hopefully Cleoptra............. I know previously we have received a double wack for not meeting expectations-is this priced in now?? who knows. I suppose I am contemplating a top up but should I wait for the next announcement? views appreciated
Hope all LSE members good-lovely seeing a bit of a bit of sunshine today
regards to all
Have a look when most were sold see above.
What was being referred to is the current 3 sq.kilometres,.
Te tests on the other 157 sq. kms ,will no doubt find many years more ,the current BOD will probably be long gone as will many of us. (dead).
There are many targets of very excellent potential in the vicinity. Having looked at artisan sites, with little or no recent surveys done.
Market, just small correction he sold at 129 to 134 and not 188. Yes it went up to 188 a few month later.
Yes he did inspire confidence, not some pompous MD but he appeared down to earth and telling it as it, with good reason for production at lower end and prediction of return to higher next year, having seen it (not seen Pardy talk before) I naughtily bought a few more, also based on the experienced long time Numis analyst saying in the video from Denver, posted here a couple of days ago, that of all gold miners now he would pick Centamin as due a rerating over next few months. I guess when the juicy divi arrives shortly, some of us will be putting it back in cey.
Good points Market!
So where is Josef now?
Do you have a link to the Hardman report that states there is only 10 years of life left in two of the Centamin sites
Notice Andrew Pardey's' body language?
Do you think he look comfortable in this role?
Does he inspire confidence in you as an investor?
Witchy ladies on quad bikes (broomsticks are just so-o-o olds) are due to appear in the skies over Wall Street later today.
Watch out for turbulence...
Some very large purchases last night after close - North today hopefully
Premarket trading in Europe on Friday morning was marked by losses, as investors awaited PPI data from Germany due for release before the bell. Yesterday, the Bank of England announced it is not changing interest rates for now, but warned of the downward effect of Brexit uncertainty. European Commission President Jean-Claude Juncker stated yesterday that a Brexit deal is still possible, describing his meeting with British Prime Minister Boris Johnson as "positive."
The DAX declined 0.18% at 7:38 am CET, as London's FTSE 100 sank 0.45%. The pound added 0.28% compared to the dollar at 7:40 am CET to go for €1.25579, highest in a month. The euro climbed 0.14% against the greenback at the same time, buying $1.10562.
The CAC 40 lost 0.25% at 7:34 am CET.
Breaking the News / NI
Nice to see so many new posters with great input ,alas sorry to see the old boys have gone been with Centamin for the ride since 2010 made well , hold little now. You cannot trust the current management , Hardman report is spot on. We have 10 years of exploration at the two well known sites and nothing. Our leader sells his whole stake at 1.88 then we pick up the pieces this is a sham and good luck if you trust them
Totally corrupt Nation? Well there's a few of them around! The illegal small scale gold mining is a huge global issue. Myanmar, Mali, Burkina Faso (the ex-presidents brother and wife are rumoured to have done very well), Indonesia (etc, etc). Estimates of between 50 and 100 million people involved globally. Yes there are laws that govern small scale gold mining and the sale of gold, in most of the countries ...but.... Enforcement by respective governments is pathetic at best totally corrupt at worst, Guyana the gold goes out in boats and planes, and oddly they have the highest per capita "dental problems" requiring mercury fillings, and some of the highest levels of mercury in their streams. Funny about that? Not if you eat fish and want to drink the water!
Totally appalling, but then again the politicans are so "out (or into)of it", that in some of the smaller countries it is estimated that 20+ % of the population relies on small scale (subsidence level) gold mining! In many villages in Africa they go from subsidence gold mining to subisdence agriculture, its their own version of "crop rotation" So its not just the illegal corrupt trade in gold, but mercury also, which is causing enormous environmental devestation, short term and long term. Thye use the young boys to go down the deeper mines, as they dont have ventillation, and the boys use less oxygen (and are more innocent, pliable and expendable). Mercury is banned, gold smuggling illegal. Great and stringent laws for the large scale gold miners, but come the small scale the laws are not adhered to, and short/long term affects dire.
The LBMA is doing the best they can do with their responsible gold program, but most if not all of the illegal gold seems to go through Dubai and the Middle East. No questions asked.
These scroates will never stop being sly and as such will never advance
As Centamin makes a push into solar for the processing plant power needs cleaner options are now available for the mobile side of their mining infrastructure.
Epiroc says it has recently secured orders for its second generation battery-electric machines from miners in Finland, Australia and Canada.
The orders come less than a year since the mining original equipment manufacturer launched the new range at an event in Örebro, Sweden.
In Finland in the September quarter, Agnico Eagle Mines ordered the Boltec E Battery rig for use at its Kittilä mine, Europe’s biggest gold operation.
The company, as part of the EU-led Sustainable Intelligent Mining Systems (SIMS) project where Epiroc is serving as a coordinator, has also been testing Epiroc battery-electric equipment. A Boomer E2 Battery has been operating for some months at the mine and, in August, a Minetruck MT42 Battery (42 t truck) and a Scooptram ST14 Battery (14 t LHD) arrived as part of the project.
Jari Kolehmainen, Production Manager at Agnico Eagle Mines, said the Boomer E2 Battery had been performing well and a diesel engine had not “been missed”.
“Operator feedback has been positive and we are looking forward to expanding our fleet with more electrical powered equipment in the near future. Therefore we are also very excited to be testing the battery-powered mine truck and loader. These tests are giving us the confidence to be a successful early adopter of this new and exciting technology.”
In addition to the orders and testing at Kittilä, several orders from other companies have been booked in previous quarters for battery-electric versions of the Boltec rock bolting rig, Boomer face drilling rig, Scooptram loader and Minetruck hauler, the company said.
Epiroc, upon launching its second generation machines in November 2018, said it had clocked up more than 60,000 hours of operating time with these electric machines. It is being helped along the way by battery maker Northvolt and ABB. Epiroc has committed to its Batteries-as-a-service offering that sees the mining OEM provide a warranty for the battery and provide both software and hardware updates on an annual basis.
The company launched its first battery-electric machines in 2016, adding, in November 2018, 14 t and 18 t LHDs, a 42 t truck and a mid-sized drilling family including face drilling, production drilling and rock reinforcement rigs. Epiroc aims to be able to offer its complete fleet of underground mining equipment as battery-electric versions by 2025.
DENVER — Canadian miner Iamgold Corp. would fit well with China Gold International Resource Corp. Ltd.’s acquisition strategy as the Chinese state-run company seeks to buy producing gold mines, an executive with the overseas arm of China National Gold Group said on Wednesday.
China Gold is aggressively looking to add to its project pipeline, and Iamgold would be a good fit, Jerry Xie, executive vice president, told Reuters on the sidelines of the Denver Gold Forum.
“You can take that as an example. We feel comfortable for that size, as a corporate acquisition,” he said.
China Gold is eyeing deals in Canada, Latin America and Africa in the US$1 billion to US$2 billion range but would also consider partnering on projects and smaller deals around US$500 million
My thoughts: I find it astounding that a company with a market cap of 500 million Canadian is talking about buying out multiple miners in the 1 - 2 billion US dollar range. I don't know how Chinese state-run enterprises can 'establish' limited companies abroad — it seems dodgy and counter to the principals of a free market