Centamin PLC Share Chat (CEY)

Those that wish CEY had been taken over by Endeavour may have added to this afternoon's slump.
Reuters report out 10.30 am US Eastern time
https://www.kitco.com/news/2020-11-10/Gold-miner-Endeavour-Mining-in-merger-talks-with-Teranga.html

Thanks Investor good point.

Optimism , with the vaccine, which we dont know will work for the most vulnerable, has to be stored at -80 C (-112 F) -which will be a great challenge at point of delivery, has to be ,drawn /diluted / prepared , a 15 minutes rest period for each patient, and needs to be taken a second time after three weeks before the immune response at week four. The roll out is an incredible challenge. Mutations 9apparently) already causing issues. Rampant spread in USA, and developing world. An interesting situation in the USA after the election, what will the new route be - stay at home get paid and more monetary easing this has a long way to run. Not to mention all those delayed weddings in India -the sell off is overdone.

Very healthy buys vs sells .. anyone have an opinions on the volume ?

# Trades 7,551
Vol. Sold 4,333,281
Sold Value £5m
Vol. Bought 7,683,885
Bought Value £9m

Dark_Knight2020- mine lifecycle report due 2nd December and Sukari update likely next year first half, though besides that I'm not aware of any other news expected. Whilst could be news leak as you suggest, I think far more likely that CEY hit particularly badly as a result of its recent downgrades resulting from Sukari issues. Not an attractive proposition to many, but for a contrarian investor, a dream. To drip in as the price falls and sell out as it rises, might be the best way of going about it. Of course, all in my opinion.

Hi all, is it only me because I am connecting from Canada or same everyone. Site is up and once trading starts it goes down.
I am sorry for most of us experiencing the bad time but I think I got use of the situation and never learn.
I am sure with evaluating the current market manipulated activities they will turn opposite later on, as they shake the market down (don't forget that there is time for stimulus, unemployment, G. debts, Pandemic unfortunately won't be over for at least 6 month.) as a preparation for the outcome.
I wish all a good luck, health and peace.

God Bless you all.

Dan

FRES was down and POLY went negative too and POG was negative. HOC went negative then shot back up 6% ... I should have stuck to hoc. No, idea if their is some bad news which the market has got a sniff off but cant be since only 2 days ago this was 134 ? Maybe other chaps who follow this will know more if we are expecting any news updates.

Yes very strange in this day and age that stupid LSE has the share chat down. Looks very suspicious to me.

LSE is one thing.It's agree service, after all.
But I've been having massive problems with my broker (AJ Bell). I know Hargreaves Lansdowne have been having difficulties as well. It's a real warning for the future - as soon as the market becomes volatile, online brokerages collapse under the strain.
Anyway, does anybody have any theories to explain CEY's peculiar share price action today? Gold is up, other gold stocks aren't doing all that badly, but CEY is still falling...

Strange that the LSE chat function has been closed during trading hours for the past two days.
Have they been nobbled I wonder?

Unemployment numbers I think.

How things change within an hour
FTSE now positive

Good Morning Mr Bond,
I don't know why you have such an issue with Sotolo. He has been posting on this board for many years. He sometimes views the share price as being overvalued and sometimes undervalued. Given that in the last few years that share price has oscillated between 30p and 230p I think it is fair to say the true value of the company, not withstanding large movements in the gold price and other factors, such as the current production issues, has not always been accurately reflected by the market.
If all this board becomes is a grouping of people all saying that the share price will go up then we might as well pack it in and go home (or turn off our computers and use the time more productively). I have a very large holding in CEY. I had an even larger holding when we were at 230 which I did not sell because I was positive about gold and expected us to move to 250p this year and 300 next year. I did not sell when we dropped to 147, then recovered to 164, because the 'slippage' that caused a drastic reduction in Q420 production seemed contained and time bound. In short I expected 2021 to be back to normal and the share price to follow. The major reduction in 2021 production that was unveiled along with Q3 production worried me because I no longer knew what the mine was offering. I sold out significantly between 147 and 130. I have since bought some of those back in the 120s although sold a tranche of those yesterday on the gold price collapse. I might buy some back today if gold continues to look more solid. I worry that the life of mine review due to be unveiled on 02 Dec might contain some future horrible news however hope that it won't. I also hold out hope that we will hear positive news about new licences in the near future.
In short I don't know what is going to happen. If you pushed me on it I would say CEY share price will remain weak for the remainder of this year and early next but then recover strongly through 2021 as the production meets the reduced targets and positive progress is made towards getting the mine back to 500k oz p.a. from 2023 onwards with a forecast for 2022 not too far off that figure. If gold makes good progress too in 2021, which I expect it to do as the economic impact of the current round of money printing (I think we call it QE nowadays) starts to be felt, then that would also help the share price.
Sotolo does not know what is going to happen either. He posts his views, not to ramp or deramp, but to share them and generate debate. I, for one, welcome that.
Best wishes and good luck with this wild share that is Centamin.
Prof

Could see a big slug of the drop yesterday clawed back on opening- but of course could be wrong. My rationale- at UK close price in Canadian Exchange was ~2.02=118 pretty much what we were here. Gold was dropping like a stone all the way to ~1852 at between 16:30-17:00 uk time for obvious reasons- it then stabilised and started to rise a little- from this point CEY Canada started it recovery back to close of ~2.14 or ~125. If you look at say Barrick Gold it did similar - markets over jumped on vaccine yesterday.

Shares on the major stock market indexes in Europe were lower in the premarket trading on Tuesday after yesterday's global stock rally prompted by optimistic news released by vaccine developers Pfizer and BioNTech, but also Novavax.

On the statistics front, investors will keep an eye on the report on the rate of unemployment in Britain, scheduled to go out an hour before the session's start, and Centre for European Economic Research's data regarding the economic sentiment in Germany and the European Union, set for release after the opening bell.

The Dax dropped 1.29% at 7:21 am CET, while the FTSE 100 concurrently lost 1.24%. The euro gained 0.13% versus the dollar, selling for 1.18272 at 7:23 am CET, while the pound sterling advanced 0.15% against the US currency, trading for 1.31792 at the same time.

Breaking the News / BU

Gold recovering some of yesterday’s losses, currently trading at $1884.03 +$18.05 + .94%

Cey would have been nearly double this price by now before this drop and without the issues which no way should of wiped out the value it has. I am back in at 1.33 mind you but will spring back quickly

I didn't think Covid was adding anything to the price of gold ( holding it back if anything )I thought it was all the stimulus/ low interest rates, ESMA, and increase in the Money supply.
None of this has changed so hopefully today was a complete over reaction.
I see Worldquant closed some of their short on Friday

What still needs to be done?
A way of producing the vaccine on a huge scale must be developed for the billions of potential doses
Regulators must approve the vaccine before it can be given
Finally, there will be the huge logistical challenge of actually immunising most of the world's populationhttps://www.bbc.co.uk/news/health-51665497

Nice try Sotolo, are you losing out now? Financially.
My deepest sympathies.
I am sure many lost much more thanks to you and other friendly shorters a month ago.
Now are you trying too ramp ?
Time others started to focus on this CEY emotional shareholder.
Ha Ha.

HEALTH NEWS NOVEMBER 9, 20209:32 PM
Why Pfizer’s ultra-cold COVID-19 vaccine will not be at the local pharmacy any time soon
NEW YORK (Reuters) - Work to distribute the experimental COVID-19 vaccine developed by Pfizer Inc and BioNTech SE is gearing up after the companies announced successful interim data earlier on Monday, but it will not be coming to local pharmacies for the general public any time soon.“We’re talking about a vaccine that needs storage at minus 70 or 80. That’s a tremendous logistical issue not only in the U.S. but outside the Western world,” said Dr Gregory Poland, a virologist and vaccine researcher with the Mayo Clinic.
“We’re a major medical center and we don’t have storage capacity like this. That will be true for everybody. This is a logistical obstacle.”
https://uk.reuters.com/article/us-health-coronavirus-vaccines-distribut/why-pfizers-ultra-cold-covid-19-vaccine-will-not-be-at-the-local-pharmacy-any-time-soon-idUKKBN27P2VI

White Night, wish it was but pre Covid gold wasn't much higher, in fact as this year began gold was around $400 lower than this evening and $500 lower than this morning. Which of course means that those many miners that are still producing as many ounces, at the same cost, are still worth 50% more than last Christmas on average, despite today's falls. BeerStalker good luck, me too, maybe we are mad as gold could go either way

I’m already invested in this, and took the view to buy extra leveraged today at 122.85. Done the same with Fresnillo and spot gold in a fit of over exuberance - let’s hope it pans out well.

Absolutely ridiculous over reaction to the SP. Pre COVID the share price and gold price was much higher. Just been reading the BBC article in which the below extract is taken regarding the trial;
“ However, the data presented is not the final analysis as it is based on only the first 94 volunteers to develop Covid so the precise effectiveness of the vaccine may change when the full results are analysed.”
So gold has bombed 5%, centamin by 10% (other miners much worse) and stocks rally by 20-30% based on 94 people’s results across 6 different countries!? What a sham!

Total market overreaction, “buy”

This could be a very good buying opportunity at this price.

I am nervous about the fact that all of CEYs mines are in politically unstable jurisdictions, but I remain highly confident that the price of gold will be higher in the coming months and years.

This is high risk but it's a massive producer and there is the potential to seriously multibag your investment from the current price imo. GLA

I took the opportunity late this afternoon to climb over the towels and through the blood and buy with the 10% cash I have held back for an outside/exceptional opportunity to buy more on the cheap. I judged that this was such an opportunity.

Time will tell whether it is foolish or wise but I am reassured that it is "cheap" as we closed today 10p down year to date and 12p down on share price close on day of Endeavour approach 3/12/20.

As the Frank Holmes and Bob Moriarty podcast said on 5/11/20 noted the best management teams have 6 key attributes,
and the first 5 are: a vision; transparency; a strong track record; a profit mindset; expertise. I would argue that Martin Horgan fits the bill on what we know so far and has investor goodwill.
But as yet he has not yet met the 6th attribute of the best precious metal mine Directors: buy shares in the company you run. Martin Horgan has not yet invested his own money to buy Centamin shares.

Now is a good opportunity Martin.