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I read that as relating to the gold sold not the gold produced. As such the production figure will be unchanged by it but the revenue in this quarter will be lower than it would otherwise have been and we will get the boost you talk about in Q3 to revenue.
This sentence suggest that the figures would have been higher.
"Gold sold of 112,764 ounces, was 5% below gold produced due to timing of the closing weekly gold shipment."
So we should be off to a good start for the next quarter
Gold is holding above $1420 which should help.
Goldfinger and Goldgnome,
You both sound pretty upbeat on the Production update. I do hope you are representative of the market and it is off to the races for the SP today.
36 minutes and we will know.
The optimist in me called 120-125 but 118 is still a good number and takes us to 234 for H1. Cey are reaffirming the 45/55 split H1/H2 so apply that to the 234 and you get 520 on the nose which is the very top end of their 490-520 forecast. This is both good in itself and suggests they could be holding back production, i.e. have some of their sleeve.
Wonder how the market will react - relief that they are still on track or has the market (like me) got greedy and expected even more?
Q2 - 118k, beats the 116k we were hoping for. This was also 27% up yoy which is when we dropped much lower than expected so great to see back on track. Looking forward to CC at 08:30 this morning
Well done; you were spot on in your call of 118.
not to mention the nice set of numbers in Cote Ivoire
Q2 Significant Doropo Drill Intercepts
The epxloration section caught my eye ....
·Excellent Horus Deeps exploration results, delineating multiple meaningful high-grade structures 400 metres below current 43-101 defined Sukari underground Reserve and Resource; intercept highlights:
29m @ 6.3g/t, including 11m @ 7.9g/t and
15m @ 6.2g/t;
1m @ 68.4g/t;
Stocks in EU drop before bell on trade war, earnings
Indexes at European exchanges were sharply lower in premarket on Thursday. Market participants were pessimistic regarding risk as corporate earnings season began with Novartis and SAP as the first two majors. Trade war concerns increased on reports that bilateral negotiations between the United States and China got stuck again over Huawei's controversial activity and allegations by the administration in Washington of national security issues.
Precious metals were stronger with the exception of gold. Its spot price slipped 0.24% to $1,422.94 per ounce at 8:02 am CET. The euro advanced just 0.15% to $1.12413 and 0.1% to £0.9037. The pound gained a mere 0.05% to $1.24396.
The FTSE declined 0.44% before the opening bell in London. The DAX was looking to open 1.03% lower and the French CAC 40 retreated 0.58%. The Euro Stoxx 50 dropped 0.55%.
Breaking the News / IT
Well here it is, will the winners of the prediction game, please take their chips off the table and re-invest in CEY?
· Group Lost Time Injury Frequency Rate ("LTIFR") in the second quarter ("Q2") of 0.23 per 200,000 workplace hours;
· Sukari Gold Mine ("Sukari") produced 117,913 ounces of gold in Q2, bringing production for the first half of the year ("H1") to 234,096 ounces and in line with the Company's 45:55 production weighted guidance split for the year; The stronger second half ("H2") is driven by higher grades from the open pit as Stage 4 mining progresses down through the Hapi Zone, as the open pit is scheduled to contribute approximately two thirds of the total H2 ounces;
· Centamin maintains annual guidance for 2019: gold production of 490,000 - 520,000 ounces, at cash costs(1) of US$675-725 per ounce produced and an AISC(1) of US$890-950 per ounce sold; The Company expects costs to trend downwards in line with the scheduled increased production profile in H2;
· Processing plant throughput of 3.4Mt of ore at an increased 96.1% utilisation rate;
· Excellent Horus Deeps exploration results, delineating multiple meaningful high-grade structures 400 metres below current 43-101 defined Sukari underground Reserve and Resource; intercept highlights: 29m @ 6.3g/t, including 11m @ 7.9g/t and 15m @ 6.2g/t; 1m @ 68.4g/t;
· Strong and flexible balance sheet with no debt, no hedging and cash and liquid assets(2) of US$326.6 million, as at 30 June 2019, after payment of US$34.6 million final dividend;
· Detailed Interim Results, including interim dividend, for the six months ended 30 June 2019, will be published on Wednesday 31 July 2019; and
· The Company will publish baseline near-term outlook for 2020 and 2021 on 31 July 2019.
Great minds think alike, or yours is so anyway Porf!
Did you see Fres take a tumble on its results today with rising costs (and slightly lower production)
The problem is miners underinvest when PM prices are low, which also results in failing machine etc and lower production, and then have to spend more as the price recovers to replace old machines and find new ore.
A year ago our second quarter reported aisc of US$1,073 per ounce sold, a horrifying 29% increase QoQ (imagine if production had fallen that much). So I will be far more interested in aisc than production, hopefully recovering production pushes aisc down a bit, and then cost cuts a bit more, to get it back nearer $900 - that is equivalent to $173 on price of gold. No wonder our shares quite fairly fell out of bed and the price is where it was when gold was $170 lower 3 years ago. So I am going to stick my neck out for aisc of a very much lower $940 tomorrow, which would be good, nearer $900 would be great. Hope I’m not hopelessly wrong and it isn’t still $1073.
On another more hopeful note at least we sold less gold when the price of it was lower, so hopefully production will be back up just when we can sell each ounce for more, and it costs less to get out.
Only 7 hours to go...
Soz for the few typos most are predictive txts. I don’t think gold smells but I fear there is a whiff about our management
As quite a naive small time investor, who by the way has learnt much from the excellent posts on here I would also like to put my two pen’orth into the questing game. When I have guessed before I have always been wildly optimistic so on this occasion I am going to go for 118k oz just a slight increase. This because I think they will want to exceed Q1, just, and assuming aisc is about the same, as pong has been over 1250 for the quarter, things should look acceptable enough to be slightly ahead of forecast. If they have managed to exceed this and held back on shipments it will give them an excellent start to h2 with gold over 1400. Soz if what I say is daft but I like abet and I have had the odd voddy or two.
Great to see you back on the board Siko, seeing a guesstimate from you is always encouraging. Q2 - 121k and some news from one of our other projects
I go for H1 around 235k... Q2 around 119k..
Having just see PushmePullMe's post that he must have been typing at the same time of me I can see that I was in correct. The all time GBP high looks like it was at £1178.93 so we are closing on it but still not there yet.
Correct me if I am wrong but I think that at £1145 gold has just hit a new all time high in GBP. This will clearly help tomorrow although the key driver will be Q2 prod. Joining in on the guessing game I will call 120-125K for tomorrow.
Good luck to all for tomorrow,
Gold price now within 3% of its all time high in Sterling, such a shame mining costs have risen so much and seem to be rising further among other reporting miners. Without that, increased profit share and lower production, our share should have been within a few per cent of its all time high too. Why tomorrow so important. And assuaging the worry about why they didn’t put out report on future production in first half, as promised. Hoc, in which I also have a sizeable stake, also reports tomorrow, its share price has more or less tracked Cey mid term, tho one jumps or falls and then the other plays catch up. Hoc too has suffered rising costs and lower profit so it will be fascinating to see both tomorrow.
See you at 7am which is 11pm with me.
During the period, the company purchased an additional blasthole rig for the long-term contract at Centamin’s Sukari gold mine, in Egypt, as part of the group’s ongoing fleet management;
116,000 troy ounces .....is a reasonable estimate and should satisfy the market tomorrow
I'll be happy with anything that doesn't upset the market...AGAIN!!
Having been disappointed, like everyone else, any positive figures will be a huge relief
Not asking for much...just stability
PS thank you TIBBS !!!!
Hopefully the gold price as now will help (if it holds) but in my experience, in the past, even when we've had good numbers we've fallen.
Everything well and truly crossed!! Dont want to get back on the big dipper again!! Good luck to all !!
Dear friends, I am always reading your posts and very respectful to many of you. Since the day trade is done I would like to give my production estimate; I would say between 120K and 125K if not a bit more.
Wish all of us a good luck,