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Been poking around Sukari recently... just coincidence of course.
Henry Onslow - Exploration Manager, Egypt - Barrick Gold
Exploration | Discovery | Strategy
As someone with an avg currently around 94p - I’m very surprised this is where it is in terms of SP! Thought more would dig in as an inflation hedge but also for the divvy. Though, I did miss out on buying in the low-80’s….oh well
Certainly fits where gold has landed after FED speak so we should open with a flat tomorrow if Asia does not snaffle up bargain prices. After hearing the pretend hawk, I am not sure about the rest of you, but I thought it was a green light to ditch some FIAT one held and replace it with gold or for those who can stomach the ride crypto version of exchange. The FED are so far behind the inflation curve that it left me wondering if the committee had gone on a trip to Neptune.
I wish everyone good trading and investing for tomorrow and that Centamin heads closer to what the brokers have forecast for the stock.
A message to some of the board member contributors is that whatever we write on here its to everyone who reads what we say, and its better reading if we imagine them sitting across from us in a real conversation. Its fun to have different views and its more fun when we share them with politeness although we may passionately disagree and that is what is great in living in a free world and whatever we do express is just an opinion. Tony
If the cap fits wear it.
map posted here:
As we already knew Shalateen has Centamin hemmed in from the south.
Some of the (obscure) companies on the map include:
Hammash Misr, Aton ,Thani Dubai, SMW Gold, AKH Gold, B2Gold, Barrick, Ebdaa, Lotus, Medaf, NorthAfrica Mining, Nubian, Red Sea Resources, Shalateen
Also, Mizolgit - you posted:
"Some keyboard warriors think differentnly ,its their right, but some allegations are downright supposition and libelous."
I take that as a compliment coming from you. Go ahead and defend the BOD as you see fit - but to label my 'warrior' posts as libelous - well that's rich. I suppose you're a lawyer too? Working for Centamin on your spare time? Go ahead and condone the board's actions (or inactions) that got us in the situation we apparently now face re: stripping $350 million worth of waste. Just leave the insults and cheap digs to somebody better adept with the pen.
Oh and while your at it - grow a pair and identify yourself (like I have) rather than hide behind anonymity via 'Mizolgit' and show us all you have nothing to hide when you're busy defending the board and attacking me
Yep- will see what occurs. Poly results tomorrow too
Fres missing guidance not helping PM's maybe Fed will help @ 7pm GMT??
In Kees experience there is an extra cost working in African countries. The productivity there is lower than elsewhere.
Kees does not subscribe to many unit mining cost estimates used for African countries in the economic assessment in technical reports.
It was confirmed to Kees that a SRK study had come up with an average unit rate of US$3.5/t mined for Africa.
This includes drilling and blasting, I estimate for free dig material this should be some US$1/t lower.
About Batie, it is non-core in Kees mind because the very low grade makes it unattractive given the risks associated with a project in Africa and a political high-risk country at that.
No wonder they downgraded Batie!
Although Doropo is better, although still not fantastic.
Mr Tibbles ,I would broadly be in agreement with Dasut on strippiong,there is no other option.
To throw everythingb at ist would be a big mistake. As it is now Centamins fleet hauls ore to the plant, the waste moved by thee contractor,thus maintaining as much production as is possible.
followwing the plan.
Burkina Faso was a mistake so is as good as gone,no matter if sold or not.No more money thrwn at it. The same would apply to the other if it is not feasable.
Some keyboard warriors think differentnly ,its their right, but some allegations are downright supposition and libelous.
But that is only my opinion.
My personal view is that Martin will achieve what he has stated, he has a reputation for usually having something in reserve!, also if all goes as hoped some uplifting news considering what is going on !
Hi MrTibbles, yes I got that there will be an expected final for 2021 of 5c, taking the 2021 divi total to 9c. But I had not picked up on any commitment to pay 9c again in 2022 - or have I got this wrong?
Still to be decided but the policy remains intact, as backed up by this research note just out from Jefferies. In para 3 he states the following:
“CEY's commitment to hold the FY21 divi at least flat YoY ($0.09/sh) supports a 7.4% yield at the current share price. CEY will report 2H21 financial results in mid-March.”
That is a view and was the essence of what was said on the webinar call
How aggressive will the Fed be in its fight against inflation? Investors hope to get some answers today from Chair Jay Powell, who will take the podium at 2:30 p.m. ET. On watch is the pace of interest rate increases, which are expected to begin in March and accelerate this year, to help slow the pace of price pressures that have plagued the U.S. economy for most of 2021. The Consumer Price Index even breached the 7% level in December, running at its highest annual pace in nearly 40 years.
Balancing act: "Weaker economic growth projections have contributed to investors breathing a sigh of relief that the Fed won't have to be overly aggressive," said Sam Stovall, chief investment strategist at CFRA, but that's specifically what some are afraid of: a policy mistake. A transitory inflation forecast - since retired by the central bank - remains fresh in investors' minds. If the Fed goes too soft, it runs the risk of allowing price pressures to get entrenched in the economy, making it a lot harder to fight inflation down the line.
The rate hiking cycle isn't the only thing on watch. The Fed is looking to combine the tightening with a reversal of its bond-buying program and a runoff of its nearly $9T balance sheet, betting that a smaller central bank presence in financial markets could help relieve inflationary forces. In contrast, the Fed was focused on the economic risks posed by the coronavirus pandemic for much of the last year, continuing to support the economy with pandemic-era stimulus.
Outlook: Keep an eye on 10-year Treasury yields, which briefly broke above the 1.9% threshold last week, triggering the fear seen in equities and much of the market. There are also worries that international developments could exacerbate inflationary forces, like supply problems related to China's Zero COVID policies or an energy crisis from a military conflict between Russia and Ukraine. In turn, many foreign economies are watching the Fed's path forward on monetary policy, which can shake up exchange rates and destabilize economic growth around the world.
Does anyone here have a view or clue about what the FY2022 dividend might be?
Midpoint guidance for 2022 is 445,000 koz and AISC US1350.
Analysts consensus for Jan 2022 is we'll get a divi of 6.4 cents but at the same time they seem to be expecting AISC of 1249 - below minimum guidance. I don't understand this?
30% of FCF is 'ringfenced' for the divi and Messrs Horgan and Jerrard tell us the dividend is 'sacrosanct'.
All guesses gratefully received?
Off by 12% for what ever reason.
Just a thought Mr T----------I wonder if Martin Horgan is doing things as he is so that Centamin can hit its production forecasts without drama? After previous revised forecasts, hitting the figures you say you will hit, plus a bit more should give confidence. Also that he is opening things up so they when forecasts are upgraded, there should still be no drama achieving figures?
Re West Wall etc,
You are right, it seems
West wall. It’s not moving by the way!
As to when that higher grade part of the open pit will be mined depends on the scheduling of the strip above that section and the mine plan overall for the open pit.
The stripping programme is at least on schedule (in fact probably ahead overall as Capital have over delivered to date) so it augurs well for short/medium term flexibility in the open pit.
Hi Dasut ,Paul,
You may recall that Martin Horgan spoke about this on one of the Webinar's
Centamin’s Sukari gold mine in Egypt is in the process of upgrading its fleet of Caterpillar 785C haul trucks with “lightweight truck trays” designed by VR Steel and fabricated by Egypt-based Aresco.
Paul No worries it gave me a chance to show off a little and yes I would agree when done right it is a very good thing and Caterpillar are a good group to get on board to finesse areas such as this and great that people at Centamin understand and listen because can look to be expensive in the short term but long term very profitable.
Spoon I don't think it is a total blitz and then go mining as I have said they are already back in mining the west wall phase 4 and it would be crazy for the production guys not to incorporate areas that are opened up into their mine plans and phase in to maintain grades.
Yes it is an expensive exercise but they are paying for material moved and not having to invest in expensive plant and additional people to drive and maintain the equipment, supervise and manage the production etc.
As I say I find it really difficult to offer up alternative solutions especially frustratingly sitting in my armchair at home.
Don't get me wrong I would far rather we weren't in this situation created by naïve Gucci miners but as I say Horgan does make a lot of sense when I listen to him. I particularly like the more conservative sensible targets that can be maintained and have a chance of being beaten.
Australia Day brings back great memories of my trips down under. Great prawns but couldn't get enough of the Bay bugs when first introduced to me up north in Mackay as part of a magnificent shared sea food platter.
Thanks for your information on Batie better out than in as more suited to a company with support from a major.
European shares traded higher in the premarket hours on Wednesday. It is expected to open higher as investors prepare themselves for the US Federal Reserve's latest monetary policy announcement. Investors will continue to closely monitor the evolution of the earnings season, news on the coronavirus, and the situation in Ukraine.
The DAX jumped 0.78% at 7:29 am CET, the CAC 40 added 0.94% and the FTSE 100 gained 0.99%.
The euro and the pound were flat against the dollar at 7:30 am CET, selling for $1.13042 and $1.35118, respectively.
Baha Breaking the News (BBN) / JGA
Happy hump y’al
From what Information I have seen I am of the opinion that the amount of waste being stripped up front is more than is required. If the waste stripping up front is reduced it allows for a steadier increase in production levels as opposed to a more sudden jump which will occur under the current apparent strategy.
I believe the steadier production increase is more favourable to shareholders whereas the sudden jump is likely to create greater benefit to executives by way of performance based remuneration. I do not begrudge executives performance based remuneration but I do take umbrage when I perceive there exists gaming of the system at the expense of shareholders.
I would love to see the release of more detailed information concerning the current pit problems & the overall mine plan as this may assuage my worries however the information has not been released which only serves to further increase my concerns.
Batie is non core, because it does not return the right amont on investment, commecnurate with risk. The gold is double refracoty(mostly aparently), requires an ultrafine grind and has high stripping ration. Apparently they could not find enough oxide gold to get the capital down quick enough
Australia day today ... Australia Day events begin with calls for country to unite as 'one mob'. Interesting day, beer and prawn on the BBQ
It was probably me not wording it right. I did understand about the amount the trucks could carry. Anyhow--it is a good thing.