The latest Investing Matters Podcast episode featuring Jeremy Skillington, CEO of Poolbeg Pharma has just been released. Listen here.
London South East prides itself on its community spirit, and in order to keep the chat section problem free, we ask all members to follow these simple rules. In these rules, we refer to ourselves as "we", "us", "our". The user of the website is referred to as "you" and "your".
By posting on our share chat boards you are agreeing to the following:
The IP address of all posts is recorded to aid in enforcing these conditions. As a user you agree to any information you have entered being stored in a database. You agree that we have the right to remove, edit, move or close any topic or board at any time should we see fit. You agree that we have the right to remove any post without notice. You agree that we have the right to suspend your account without notice.
Please note some users may not behave properly and may post content that is misleading, untrue or offensive.
It is not possible for us to fully monitor all content all of the time but where we have actually received notice of any content that is potentially misleading, untrue, offensive, unlawful, infringes third party rights or is potentially in breach of these terms and conditions, then we will review such content, decide whether to remove it from this website and act accordingly.
Premium Members are members that have a premium subscription with London South East. You can subscribe here.
London South East does not endorse such members, and posts should not be construed as advice and represent the opinions of the authors, not those of London South East Ltd, or its affiliates.
Paul It is way too early for forecasts from anyone outside of the Centamin teams given the new mine plan is only just known to us but given that the open pit now has the flexibility of mining ore from several faces, actually processing more of the low grade ores by placing on heap leach pads, lower strip ratios over the next 15 months, reductions of operational costs, upgrading of underground equipment, waste contract ending during this period, additional trucks in the open pit.
I have confidence that the mine is now moving in the right direction but the initial proof will be that the flexibility enables the mine to make up the 3rd quarter shortfall and that efficiencies reduce costs.
All this said the sales values of gold (OK some protection), is all important.
Tibbs only a good point if mill was down for a month hence we need to ascertain how long, to have an idea what kick start they have going into the 4th quarter.
Yes, fair point 3bear - Time will tell as always.
Good point Dasut, very good point!
Thank you M.Henderson,
I have emailed Centamin IR and FTI the PR company if I don't receive a satisfactory response ans explanation then I shall be asking for the regulator to investigate this issue
Mhendersen I get why the repairs might not have been scheduled but can you let us know where you heard that the mill was down for 30 days?
If they produced 101,000 ounces in 2 months then they should have ore sitting on the ROM containing at least another 30,000 ounces, available for processing from 1st October.
Hmmmm, I've been a member on this board for many years mhenderson, and you are the first to point to an issue before it came out in an RNS.
Of course no one here knows whether or not it was the same issue, or whether it was pot luck- but interesting nonetheless.
Unfortunately after UK market trading closes (17:00UK tonight).
There is an interesting post by Trader 465 on the ADVN Chat Room, it is not yet answered.
"Doropo is years away from contributing to EPS. The important question is what will EPS be for 2023? Anyone done any 2023 EPS calculations?"
It made me think also of free cash flow and next year's dividend. Has anyone any ideas?
Mrtibbles
Thank you for your post
Centamin Investor Relations replied to you before ( We are not aware of the news you are referring to.) while Horgan now referring to this issue in the Q3 report, so its better to find a way to escalating this away from them.
Hi Paul,
Its been so long since we had some really good news that I no longer expect it,although should we get some it would be fantastic!
If the directors made some meaningful purchases at this level it would help!
Tibbs
Hi Rebess so while the mill was out of action they could not process ore of course but carried on truck and shovel operation and piled up the "Run of Mine" (ROM) in a heap next to the mill. Since October 1 the mill has been grinding thru this at max capacity so I expect Q4 to be a belter, in excess of 130,000oz. Likewise Q4 revenues with 60,000 of those ounces guaranteed at 1900 whatever happens to the GP, should be good news.
M Henderson,
Thank you for your post, in case you have forgotten I have reposted below my previous reply to you as the basis of it is still relevant to your latest claim that Martin Horgan is lying to share holders and indeed the market, these are serious accusations which if you can substantiate should be reported to the company and the market regulator.
I will anyway inform the company and depending on their response possibly seek the advice of the FCA
My previous reply to you
Its always easy to claim prior knowledge of an impending event post event , but I did take it seriously even though the you provided no evidence or source of the information.
In defence of Centamin they are to great extent limited by FCA regulations regarding what can be released into the public domain and so possibly they decided as the situation was already being dealt with as a matter of course there wasn't any justification for an RNS which could have influenced the market.
Just to clarify .after your claim I contacted The Head of Centamin Investor Relations, see their reply below -RE: Clarification announcement about the news circulating regarding the stopping production in Sukari for more than 10 days ?
From Centamin
We are not aware of the news you are referring to.
We had a substantial plant maintenance programme scheduled in Q1 this year, which was successfully completed as planned: https://tools.eurolandir.com/tools/Pressreleases/GetPressRelease/?ID=4275992&lang=en-GB&companycode=au-cey&v=.
For clarification, the Sukari paste-fill plant commenced commissioning in Q2, not the gravity circuit. The Sukari gravity circuit is in the design phase with a construction decision expected by the end of this year: https://tools.eurolandir.com/tools/Pressreleases/GetPressRelease/?ID=4357244&lang=en-GB&companycode=au-cey&v=.
Head of Centamin Investor Relations
So M Henderson with these facts in mind if you are still suggesting that there is some impending unannounced but detrimental news that Centamin aren't disclosing then may I suggest that rather than spreading unsubstantiated rumours on internet forums that you contact Centamin for an explanation and if you feel that their response is insufficient then to refer your claims to the FCA.
In the meantime I will inform Centamin Investor Relations that you may be in contact with them.
A valid point Mr Bond.
Thank you Mrbond, I totally agree with you.💯
Shame on you Horgan , enough lying !
more than 30 days for a pre-emptive repairs !? why was it not included in the maintenance plan before setting the guidance ? you can say the truth, a technical issue happened and took more than a month to fix it.
Half a truth is often a great lie !
I put it on another thread. From last weeks RNS
"Doropo Gold Project definitive feasibility study (mid-2024)" so I assume a decision will be made one way or another?
Sukari mill was receiving repairs in this period.
Hi Rebess,
A big ask indeed!
Will they deliver gold or disappointment, if past experience is anything to go by I think most long term holders will have an opinion!
Doropo, I get the impressionism from independent sources that the grades are nothing special, so will it be used to divert attention elsewhere with more money down the drain to end up as another "Dropo!"
Chances of this going back to a quid are getting slimmer and slimmer. Even the sustained POG isn't making this work.
Correction: - In Q4 a 27% increase over Q3.
128,100 oz required in Q4 to meet lower end 450,000 oz guidance. - This means a 20% increase over Q3 production and an overall /average quarterly increase of 13%. - A big ask I would suggest. - The truth will out.
Well just a quick look and the market doesn't like it. I said last week i was expecting a bit of a spanking, even though it was announced last week that the oz's mined was lower. I am not brave enough to get out / or have enough shares to get out and back in before an update-------even though I cannot remember a recent update causing the price to go up.
Lets hope the price makes a bit of a comeback later today.
One thing I did notice in the update was this.
Doropo Gold Project definitive feasibility study (mid-2024) -------------I'm assuming that will mean the decision will be made one way of another to progress or not? Any thoughts on that.
I'd be interested to hear from Dasut and Sotolo on their thoughts for the next 6 months and maybe until the end of 2024.
Any good news anyone? :-)
Quick scan looks as expected- now it’s up to the market so no idea.
No worries Ken23.
Q3-
As expected which means a a good catchup required in Q4 required to make up the difference, but stated this will be done - but of course, this was already known.
Steve, thanks again.
As always if your strategy works then stick to it.