Centamin PLC Share Chat (CEY)

during times of economic turmoil and election jitters GOLD IS KING imo this will be back up again. buy and hold

GLA!

in times of economic turmoil and election jitters, gold is king!
This will be back up imo buy and hold.
GLA!

Wow, JAdam, you're analysis doesn't look so clever now mate. Back to 170 within a week..

Think it's a typo - 1500 off the Dow in the near future looks entirely plausible.

Guys there’s a market adjustment going on on both sides of the Atlantic reflecting Covid19 fears and pre election jitters.
Cey will bob along author the rest until it’s next turn for an update.
So the beginning of the last week in November is where the pps will start to make sense again.

Good luck y’al

Dow isn't going to lose 15,000 pts and go down to 12,000 lol

support gone at 127p now so as I thought, it looks like I might get a stab at 116p entry. I like CEY at those levels but not keen on anything over 125p until the business/operations return to previous production levels.

110p to 120p would be the ideal zone for traders if DOW decides to shed another 15000pts over coming days/weeks and POG decides to follow. POG should be strong but often gets pulled down due to liquidity / margin calls elsewhere. Funds raise cash via their gold sales and so on.

KAZ minerals offer today as woken the market up to how strong miners of gold and copper are right now and why they are in demand. But CEY lacks the copper that many majors are after right now. I think SOLG will be next to be taken out as that's cheap based on gold and copper resources already defined nevermind the latest exploration success.

Cowichan,
Thanks for letting us know Tibbs is OK. Please do pass on why best to him.
Best wishes,
Prof

Tibbs wanted to let you all know he's alright - just taking a short break from posting for personal reasons.

He appreciates the concern many have shown.

Anyone with a question for our new CEO please chime in as I believe Tibbs is going to raise the issues Kees Dekker outlined in his Sukari open pit analysis later this week. It seems much of our current open pit trouble could have been addressed years ago had the previous CEO and management team acted on Mr Dekker's report in 2017/2018

History need not repeat.

Look at all indices, that's why. CEY is a stock... gold is now down a bit too. UK indices have faired worse, whilst US/Far East pretty much gained back loss since March COVID panic, UK ones not due to BREXIT concerns on top.

I don’t quiet understand why there’s been such downward movement in the share price over the last few days. Gold hasn’t budged, or confidently broken out (either way) So it has to be down to the ‘algo bots’ IMO.

Oh no! Not yet another RED DAY!!! I hate red.... sigh

Major stock indexes in Europe traded lower on Wednesday as investors focused on today's batch of corporate earnings, as well as the surging coronavirus numbers. Meanwhile, in politics, the European Commission said that Brussels and London are "intensively" working on a trade deal.

The FTSE 100 dropped 0.42% at 7:38 am CET, while the DAX tumbled 1.03%. The CAC 40 lost 1.21%.

The euro fell 0.12% against the dollar to sell for $1.17815 at 7:36 am CET. The pound was up 0.10% a minute later, changing hands for $1.30562.

Breaking the News / MD

Deutsche Bank, Europe’s second-largest bank, the biggest bank in Germany, and one of the world’s ten largest banks by assets, and of course THE bank for derivatives trading, is in huge trouble.
And of course, this matters: The International Monetary Fund was the first to warn about it as being “the largest net contributor to systemic risks” to the global financial system. When (not if?) Deutsche Bank Collapse will happen, the rest of the global financial system will shake to its very foundation
There’s a simple rule When it comes down to Banking trouble: The louder politicians insists on TV that everything is just fine, the bigger the problem really is.
It’s terrible enough that a government minister should feel the need to say anything at all, so when he does, you know it’s a red flashing sign.
So what’s wrong with Deutsche Bank?
Well, everything is wrong with Deutsche bank. It is coping with adapting to a changed competitive situation where its business model and cost structure no longer make sense. Not to mention that tightened regulations have made the banking industry a nightmare of rules.

And as reported by the Financial Times, Deutsche Bank is facing a mind-boggling number (7,000) regulatory actions and lawsuits. Deutsche Bank is the most important domino in European's very shaky financial system. Loss of confidence in financial institutions can happen in hours, and once it’s gone, there’s virtually no way (other than a bailout) to get it back (rumour is it is being bailed out daily, and this has been going on for a while?). The Deutsche Bank situation generally is a serious concern, because we’ve seen what happens when a major global financial institution goes bust, and it did turn into a devastating stock market crash.

When Lehman failed, it nearly took down the entire financial system with it. Deutsche Bank is of similar scale and importance (you might argue it’s actually more substantial, though I think at that point it’s basically irrelevant - if you’re big enough to bring down the entire financial system, then you’re large enough. When Deutsche Bank Collapse will happen , at least in the same way that Lehman failed, then every other financial institution will face the same questions and economic collapse will hit the world.
If Deutsche Bank collapses, it will cause the entire EU to implode.
And if this happens, prepare for economic collapse, the likes of which this world has never seen.
So can Deutsche Bank be the next Lehman?
The Bankers of the world ar trying frantically to avoid this, but their efforts maynot be enough...
Key Takeaways. An over the counter (OTC) derivative is a financial contract that is arranged between two counterparties but with minimal intermediation or regulation. OTC derivatives do not have standardized terms and they are not listed on an asset exchange.
Rather build my investments in gold, than a very flawed, fragile banking system, loaded with derivatives (who knows not where...)
the

MrTibs is probably fully engrossed in the US Elections, and there is a lot to be engrossed about?! We have dog whistles and foghorns blaring, vague energy policies getting mumbled about, record postal votes yet the postal budget not increased (so room for delays and derailments here), debates which have more in common with debacles, the mass media (read hysteria) on full alert, left extremists and white extremists muddying the waters and facing off and both armed to the teeth. You would sometimes find it hard to think the US is a civilised country with a polite society.
https://projects.fivethirtyeight.com/2020-election-forecast/
So here's hoping MrTibs is OK and not too distracted by commentary and barbs/jousting in the US, not barbs and jousting on this board. Being honest is not a crime, even if your a politician?

On the markets the fintech darlings have ludicrous p/e's so this is not going to end well is a tip. Hard to see a lot of positive movement in the travel and hospitality in Australia for the next 12 months, buying opp's for the patient?

On gold hard to see how the sector is not going to be dominated by MandA at all sizes of the industry. Land access is very slow, expensive and costly now, in most if not all developed countries. The time you get environmental clearances, indigenous clearances (you need these for every time you step onto the hallowed turf), govt clearances, indeed permits granted (virus delays, opaqueness, incompetence, corruption), years go by. Quality of exploration is down, and the low hanging fruit has been picked. Discoveries are few, tier 1 discoveries a trickle at best. The analysts and investors all want a quick buck, which makes the SP's volatile to say the least.

Here's hoping MrTibs is well
best
the Gnom

Tibbs,
Like many others here I hope you are OK.
Do let us know all is fine even if you are not in the mood for a full post.
Best wishes,
Prof

I really hope you are ok Tibbs, I always look forward to your comments and opinions which I and a lot of others respect, so please post soon even just to say you are well.

Hi Razors.
Being range bound would be a start. For the past few days we have been doing lower highs and lower lows.
Best wishes,
Prof

For what it’s worth I believe Cey will remain range bound until after December 2nd the date earmarked to disclose the findings of the mine condition report.
The company gave a low production estimate going into 2021 but it didn’t rule out positive progress on all fronts.
Positive news flow could come from the ERMA or Africa.

The market in the mean time will reflect the consensus on the US election which this bbc link helps explain when the outcome will be known.
I believe the market will unofficially know the results within 24hrs but the official result will take longer.

Mrtibbles hope you’re okay.

https://www.google.co.uk/amp/s/www.bbc.com/news/amp/election-us-2020-54096399

Cowachin

Here's a rough take, perhaps too rough for most....

As a ~1m share holder, let me share some frank views, apologies for repetition!

The Sukari geological gold asset are outstanding, and therefore I invested. The previous board and previous management were not impressive, rather opportunistic, and I have done well. I expect to continue doing well obviously. Timing is key

The discussion just revealed in the interviews, QandA (etc) are much aligned with my view and adopt a strategy and action plan which I feel comfortable with. There is technical depth and reality in what they propose, and I suspect that they under promise and over deliver, but let’s see. So the day traders (I am not) … watch this carefully.

The previous strategy and plans were not of interest to me. Their assumptions and behaviours were predictable and let’s say “flamboyant”, over promise and under deliver? and they were what they were and are now exposed. The ore is in the ground delivered, to be polite.

Opportunistic mining (high grading?) will end in tears. Does every time, clue is to get out before the tears start rolling. Or wait for reality to catch up.

Interested in some of the more sensible comments on West Africa (remarkably few from previous mngt) There are real hints here. They have done well in terms of acquisition/discovery costs per ounce. No value in SP? They are in one of the most fertile gold provinces on the planet. They are diversifying geographic risk. They need the right management and right operational staff to make a go of this, and if they do, this could be spectacular (see B2Gold into Mali). The previous staff were not the right people,

My guesses are
1. Batie West will not be a Centamin ore body, but will be divested into a situation which will deliver risk free, free cash flow.
2. The Cote D’Voire assets will form a mining operation which will be attractive to Centamin use of capital.
3. Centamin will establish a significant free cash flow operation/s in West Africa, and do very well.

That’s all from me, the new management are doing a solid job, to manage the situation they unfortunately inherited.

Good luck to all, there are a few vocal people who have no idea what they are talking about, other than they need to make a few bucks...cest la vie....

the Gold Gnome

European equities moved higher during premarket trading on Tuesday after suffering a selloff in the previous session.

The heavy losses, which hit Wall Street on Monday as well, came on the back of growing concerns over the coronavirus pandemic. In response to rising infection numbers, European governments began introducing stricter measures to contain the virus. Meanwhile, investors geared up for another batch of corporate earnings, including those of major drugmakers Merck, Pfizer and Eli Lilly.

The DAX was up 0.44% at 7:38 am CET, while the CAC 40 rose 0.06%. The FTSE 100 added 0.20%. At 7:40 am CET, the euro gained 0.20% against the dollar, buying 1.18337. The pound was up 0.11% versus the greenback to go for 1.30392 at the same time.

Breaking the News / JC

Gold + .4% $1908.80

Current Gold / Silver prices -Still moving higher overnight as Asian Stocks fall inline with NYSE falls, as traders seek safety of the precious metals once again.

Just switched on Bloomberg looks like the failure of the USA Stimuli before the election results is starting to pull down the market. I also see the precious metals (Gold slightly up at the moment and Silver holding to indicate if either party wins they will introduce the long awaited stimuli and we will then respond positively so to us a win/win.
Razor I agree with you -no rush to recover we just need to wait a little bit longer and longer term this is still a safer bet to have in ones portfolio than most other shares (all things considered) in my opinion.

Hi DJRYAN,

What is it that is making you feel optimistic about the forthcoming announcement?
I usually am but seem to keep having my hopes dashed. I thought the Q3 one was going to say the slide was fully contained and the production impact on Q420 was going to be a lot less than anticipated with matters back to normal for Q121. How wrong was I?
Could do with reason to return to optimism.
Best wishes,
Prof

Feeling optimistic about 2nd December and general news flow to the end of the year.