Stefan Bernstein explains how the EU/Greenland critical raw materials partnership benefits GreenRoc. Watch the full video here.
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It is interesting to search on google images or for mining videos on YouTube so you can get a visual of what a waste mountain at a gold mine actually looks like.
I mentioned a while ago and was Johannesburg South Africa which was founded by gold and diamond mining. They have always had and still to this day have problems with the gold mining waste. My point is the previous management got away big time by not removing the waste.
It’s bing corrected now, but surely there must have been a massive visual.
Saved a fortune by not employing a waste removal contractor, enough to make up £300m.
B’Nora!
But there you go again Tibbs, it’s old news and water under the bridge. We’ve all read the recent RNS, they’re clearing the waste and hitting targets. ‘Hannibal’ Horgan appears to be doing a great job and appears an effective leader of this new and improved ‘A-Team’.
On Centamin , and you're right - they have sold out
while Centamin's website still lists its MAJOR holder data as thus :
#1 VanEck Inc 111,244,970 shares 9.62%
#2 BlackRock 75,482,689 shares 6.53%
#3 abrdn plc 59,896,169 shares 5.18%
#4 Dimensional Fund Advisors 57,019,844 shares 4.93%
#5 The Vanguard Group, Inc 52,983,780 shares 4.58%
#6 Schroders 45,208,584 shares 3.91%
#7 Ninety One 43,647,274 shares 3.77%
#8 Aberforth Partners 41,332,214 shares 3.57%
#9 Wellington Mgt 39,703,129 shares 3.43%
#10 Hargreaves Lansdown PLC 39,227,049 shares 3.39%
Marketscreener lists Centamin's MAJOR shareholder data as thus :
#1 Van Eck 110,273,580 shares 9.519%
#2 Dimensional Fund Advisors 47,425,970 shares 4.094%
#3 The Vanguard Group 41,000,780 shares 3.539%
#4 Hargreaves Lansdown 3.386%
#5 Aberforth Partners 38,141,675 shares 3.293%
#6 Norges Bank 2.811%
#7 Schroder Investment Management 31,157,324 shares 2.690%
#8 Ninety One UK Ltd. 27,128,540 shares 2.342%
#9 BlackRock 18,356,831 shares 1.585%
#10 Abrdn 18,275,264 shares 1.578%
https://www.marketscreener.com/quote/stock/CENTAMIN-PLC-9730915/company/
----------------------------->>>
Thus unless Marketscreener data is bad , which it probably isn't ( note: Centamin's website data hasn't changed in a long, long while) Centamin's MAJOR shareholders have sold down massively -
Blackrock SOLD 57 million shares
Abrdn SOLD 41 million shares
Vanguard SOLD 12 million shares
Dimensional SOLD 10 million shares
Schroders SOLD 14 million shares
Ninety One SOLD 16 million shares
Wellington SOLD a minimum of 21 million cuz they're no longer in the top ten
Yes, VanEck and a few others are holding steady - but to present this current weak share price as a buying opportunity , and then pointing to the larger players as proof - is not accurate, in fact it's just the opposite
Hi Spot,
I remain incensed that such intentional bad mining practice could have carried on for so long !
That said I concur with your comments regarding the professional mining understanding of those analysts on such site visits.
So it may interest you to know that I expressed as such to the Head of Investor relations who was quite open to my suggestion that Kees Dekker mining analyst should to be invited to have free reign to inspect and report back on the present Sukari operation.
The concern the company had on this was someone would have to fund the visit and if it were the company it may be difficult claim their impartiality in such a survey.
You may recall in the past that Martin Horgan was asked by a media representative about past missed guidance and Martin remarked that in the past Centamin couldn't deliver a Pizza on time,let alone guidance!
I want to believe that this time will be different, but after being lied to by Andrew Pardey and giving the benefit of the doubt to the past management on more occasions than I care to remember it is I feel understandable that despite my faith in Martin Horgan it is perfectly reasonable for me to expect some measurable proof this time!
Best
Tibbs
Hi Tibbs, I think that we have to take the Brokers visits with a pinch of salt.
They may be excellent bean counters but i would imagine they have zero mining knowledge.
The blame lays completely with the past management.
Lets hang the new guy after hes found guilty not before.
It hopefully won't be long before we're back to being a very profitable mine again with our own personal ATM .
Time for a pasty and a pint tibbs, Cheers 🍻 spot64
Hi Spot, Daz and other members,
I quite agree, but with the caveat that we are be given a completely truthful account of what is taking place and the results promised will be delivered on time!
It isn't my intention to scaremonger, but considering number of times shareholders were mislead in the past it makes sense to exercise some caution and bear in mind the very corporate brokers who recommend Centamin now also since 2016 visited Sukari ion several occasions but not once questioned or mentioned the failure to clear waste from the excessive high grading!
I look forward to not bing disappointed this time around!
What Ray Dalio got wrong (and what happens next)
Ray Dalio expected interest rates to have a much different impact on the US economy. But that doesn’t mean the risk of a debt crisis has disappeared.
Ray Dalio’s retirement last year from the hedge fund he founded, Bridgewater Associates, has given the billionaire more time to indulge his other great passion: history.
Dalio has made a study of economic cycles over the last few centuries and credit cycles over the last 100 years, frequently warning that the build-up in debt seen across Western economies will eventually spark a major crisis.
Ray Dalio is the founder of the world’s largest hedge fund, Bridgewater.
But the veteran investor now admits he got something wrong: the stunning resilience of the private sector in the face of one of the fastest interest rate tightening cycles in living memory.
“I failed to fully appreciate how much the improved financial condition of the private sector would soften the impact of the Fed’s tightening because I was too focused on how the last 12 tightening cycles (since 1945, when the new world and currency order began) worked,” Dalio now says.
The cause of Dalio’s mistake is what he now calls the great wealth transfer, which occurred during the pandemic and saw government central banks take on debt to fund stimulus payments, and central banks print money to buy a lot of that debt.
“As a result of this co-ordinated government manoeuvre, the household sector’s balance sheets and income statements are in good shape, while the government’s are in bad shape. (this is not true in Oz)
“In the US and globally, the central governments’ balance sheets and income statements are bad and getting worse because the governments ran and are still running large deficits. They also have big losses on the government bonds they bought to fund the government debts and, with their balance sheets where they are, are losing money where interest rates are.”
Dalio’s diagnosis helps put two key recent events in global markets in context. The first is the downgrade of the US government’s credit rating by Fitch, which was directly related to the ballooning size of its deficit.
The second event is last week’s jump in 10-year US treasury yields from around 4 per cent to 4.2 per cent, after the US government said it would increase the size of a debt sale this week.
Bond yields have since retreated to 4.06 per cent after US jobs numbers came in a bit softer than expected. But as Barclays’ head of economic research, Christian Keller, says, the volatility in US Treasuries during a week when US economic data suggested the Goldilocks soft-landing was still in play, points to the potential for more volatility as investors wrestle with what the long-term health of government finances mean for asset prices.
“Such longer-term fiscal dynamics typically … are an uninspiring, dull topic, lingering in the background, and seemingly do
I doubt whetehr the downramping has much effect...rather just presents a buying opportunity for those with an alternative position, especially the larger players ...
regards
the gnome
I’m stirring the pot a bit Steve and enjoy provocatively challenging the situation, While I agree that downramping might not exert a significant impact on the stock price, apprehensive investors could potentially yield to prevailing public sentiments and fear-driven narratives, precipitating selling behavior. Moreover, the Tibbs & Cowichan.Co spree of recurrent negative PR posts are somewhat monotonous and uninspiring, they get a little dull these days. We’ve all done our research, that’s why we’re here, Centamin is good at this price.
What people wrote here make zero difference to the SP. Economic data which impacts all shares and economic data that impacts gold along with RNS from CEY are the SP drivers
Well said, spot64. Completely agree about the fear mongering. Both Cowichan and Tibb’s understand that Centamin are making great strides towards dealing with the issues of the previous management and their focus on past events seems unwarranted, given the efforts of the new management. The company is currently performing well, meeting all its targets, and appears to be a promising investment, taking in to account all of the issues and the progress, Centamin is looking like a good buy to me. That’s why it appears like fear mongering, they both know the new management is working hard, but seem to want to dwell on past events.
I think you are right mr T, its not possible for any individual BB board posters to significantly affect any share price, but the continual focus on events that have passed, and management that no longer exists, plus a project fear campain could cause someone who is less informed than others on here to sell their shares out of fear and at perhaps a significant loss that they could ill afford.
Im sure that most people that post on here are decent honest people and wouldn't deliberately want to cause anyone to lose money but they could very well be doing just that.
Im not saying let's all wear rose tinted glasses but continually banging on about the past without balancing it with the work and changes that are being done could be misleading to someone.
Im as frustrated at what happened as much as anyone and the share price reflects what happened by the past bad management.
The mine problems are well on the way to being fixed and improvements being made, so let's look to the future and not dwell just on the past.
Https://twitter.com/centaminplc/status/1688445091227049984?s=12
Yep :-)
US CPI data due out this week (10 August) will help determine direction of Gold for at least the short to medium term here
https://m.investing.com/economic-calendar/cpi-733
Major European markets traded lower on Monday's premarket session, awaiting the release of more economic data.
This week investors await the latest German CPI and industrial production data, while the UK will receive reports on GDP, industrial production, and trade balance.
The DAX lost 0.43% at 7:42 am CET, while the CAC 40 fell 0.33%, and the FTSE 100 declined 0.37%. The pan-European Euro Stoxx 50 inched down 0.39%.
The euro and the British pound were down by 0.21% and 0.18% against the dollar at 7:43 am CET, selling for $1.09860 and $1.27231 simultaneously.
Baha Breaking News (BBN) / JG
Happy Monday y’al
Hi Daz,
It would be extremely naive to say the least for anyone to have the slightest notion that comments or opinion said by any retail investor could have such bearing to put this share in some sort of decline!
As the ,majority of long term holders, or those simply got exhausted and sold out would confirm Centamin is a contrarian share to say the least and virtually impossible to predict as to how it will react to any given circumstances, despite what some may claim and bearing in mind that anyone can be whomsoever they want to be on any internet forum and that trading success or failure in Centamin is in the main based on luck, or as in the past the luck of getting out just before a member of the management is forced to disclose claimed unexpected occurrences which in reality they had been glossing over for years !
You are very mistaken if you have the idea that I would be spending anytime trying to drive down the share price by a penny or two, I really couldn't be bothered.
Who knows there might be be a newer member of this forum who is working to the agenda of a PR agency or corporate brokers, it wouldn't be the first time!
Aug. 6, 2023, 5:54 a.m. ET
Egypt's tutors rose to fame by accurately predicting questions, whether through experience or by greasing government palms. These days, a star tutor can draw 400 or more students per class, and the most sought-after tutors earn enough to drive Porsches.
Before the coronavirus pandemic popularized online classes, such tutors often rented theaters, mosques or halls to fit an audience of thousands for final pre-exam cramming sessions, said Maged Hosny, an industry veteran who opened some of Cairo’s first centers.
The most popular teachers drill facts and figures into their students with jokes and mnemonic songs they make up themselves. Others build their brands using self-published textbooks and notebooks with their names and faces emblazoned on every page. On Facebook, their fans argue heatedly about the best teachers.
She abandoned Egypt’s chronically overcrowded and underfunded schools midway through middle school, joining millions of other students in private tutoring, where the same teachers who were paid too little at school to bother teaching could make multiples of their day-job salaries on exam-prep classes.
Small wonder, then, that the centers compete to hire top tutors. Even doctors have been known to switch to tutoring to make more money.
The only qualification that matters is how many students they can attract.
“What I’d make in a month at my school, I could make in a day here,” said Mohamed Galal, 35, an Excellent-Oxford math tutor who also teaches at a nearby private school. “And it’s not just the money. You also get the status, the respect.”
The tutoring industry in Egypt has become a big business by filling the void left by public schools, once the bedrock of middle-class advancement. The government’s mismanagement of the economy has shriveled Egypt’s once-robust middle class, analysts say, dragging families toward poverty not only through repeated economic crises and subsidy cuts, but, increasingly, by the cost of supposedly free services like health care and education.
Juggling a booming population, a sluggish economy and extravagant building projects, Egypt has long spent well below the constitutional minimum of 4 percent of gross domestic product on education, even as students skid far down the global educational rankings.
For-profit tutoring centers are where Egyptian families try to outrun their country’s decline. Lessons are the only way to secure better futures for their children, many believe, even if it means sacrificing meat, fruit and vegetables amid 35 percent inflation.
“Sometimes what we eat today depends on whether I have class tomorrow. If I have two classes tomorrow, for example, then we’re eating koshary today,” said Zeinab Moawad, 18, a public school student at Excellent-Oxford, referring to the cheapest of Egyptian dishes.
https://www.nytimes.com/2023/08/06/world/middleeast/egypt-public-schools-tutoring.html
- Higher interest income on a larger cash balance further drove much of the gain
- Berkshire's cash mountain now $147.4 billion - up from $128.6 billion at yearend
- total firm debt now $84 billion. (against $147.4 billion firm cash, net cash is $63.4B)
- Berkshire is earning over $7B/year in interest income on its T-bill holdings, up for nearly nothing two years ago. Interest expense on debt outstanding is less than $4B pre-tax
- railroad is noticeably weak with revenues down 11.6% on 11.1% lower volumes
- trucking taking share from rail on lower spot rates. Industrial, agriculture, coal volumes all down. Chemicals, plastics, lumber shipments all weak. Higher interest rates are hammering residential construction
- Berkshire's top 8 publicly traded company shareholdings make up 86% of all its publicly traded shareholdings - notably Apple makes up nearly 50% alone
1) Apple: 48%
2) Bank of America: 9%
3) American Express: 7%
4) Coca-Cola: 7%
5) Chevron: 6%
6) Occidental Petroleum: 4%
7) Kraft Heinz: 3%
8) Moody’s: 2%
My Thoughts:
The most successful investors didn't play by the commonly held investment rule of high diversification, at least not until their fortunes were amassed, and even then to outperform the market benchmark they were able to pick a winner and ride that winner to great highs (Apple!). Still, Buffet managed to get out of some too soon and miss others completely ( Amazon! )
Tibbs: “Until then regard the company with great suspicion and trust it like a rattle snake in a lucky dip”
Here, my fellow investors is the perfect example of a classic downramp. I must admit my skepticism, Tibbs, regarding your current share holdings, the notion of the ‘old timer’ holding doesn’t quite convince me and it appears you might be contemplating re-entry at a later point. Wishing you the best of luck in securing a more favourable position in the market. I’m sure both you and Cowichan will be singing a pretty little duet soon.
Cowichan posts:
Buying power of one dollar over 90 years:
1933: $1.00
1943: $0.75
1953: $0.49
1963: $0.42
1973: $0.29
1983: $0.13
1993: $0.09
2003: $0.07
2023: $0.04
MrBond replies:
I don’t know where Cowichan is buying his dollars, but they still cost $1.00 for me
Hi Cowichan,
You missed this - He holds a BS in mechanical engineering from Cairo University. On May 2017, the French President awarded him the “Ordre National de la Legion D’Honneur” at the rank of Knight. On November 2020, the President of the Hellenic Republic awarded him the “Grand Commander of the Order of Phoenix.”
Mr Bond,
There is often all manner of inaccuracies, overly biased or even incorrect facts in all manner of articles or mainstream published news , even more so social media and Centamin have been known to not always be entirely truthful at times when it suits!
Does anyone trust your information.
When you have just stated , "Possibly some of Cowichans questions were based on innaccurate information".
Whats more ,its likely all of his/her statements on here ,are also the same. False information.
:-)
Hi Daz,
Thank you for your thoughts, you are likely not aware but Cowichan is a professional geologist and I can vouch a very decent person, I have seen some of his past correspondence to Centamin which was polite and reasonable, and at least deserved some official acknowledgment, even better an answer!
Possibly some of Cowichan's questions were based-on inaccurate information , but if that were so then the company should have regarded it as an opportunity to quell rumour and state the true facts, sadly they did neither which is at the least is a missed opportunity to promote interest in the company!
i am a longer term holder of a not inconsiderably number of Centamin shares and I have a dossier of unanswered questions , three is certainly room for great improvement but since the change of PR company response to investors queries appears to bre non existent!
Do I trust what we share holders are being told, certainly not, they lied in the past why should I trust```````` them now!
Centamin is welll and truly buggered with market trust down the lavatory for good reason, the management behaved like carpet baggers and shysters upwards shareholders!
Its an end to the extra waste clearance costs with measurable proof results and a restoration above scraps level of the dividend that's needed before the share price will rise!
Until then regard the company with great suspicion and trust iit like a rattle snake in a lucky dip!
Centamin is in the "Stinker" class at present and great improvement is needed!