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Overall, I like the look of Centamin shares andmy investment is currently up close to 20%. Thefact that it is trading at a penny share level withan enticing yield is positive for me, as I’m going to buy some further shares for my holdings.
The post
Here’s why I bought this exciting pennyshare with its 4% payout
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Here’s why I bought this exciting penny share with its 4% payout
Sumayya Mansoor 11 August 2023
One penny share I added to my holdings some time ago is Centamin (LSE: CEY). At the time, Ifelt it was an opportunity not to be missed. I still feel the same way. Here’s why.
Centamin is a mineral exploration, development, and mining business. Its primary asset is the Sukhari Gold Mine in southern Egypt. It also mines ore minerals and processes it at its own on-site plant. Furthermore, it owns potentially lucrative exploration and development assets in Burkina Faso and Cote d’Ivoire.
It is worth remembering that a penny share is one that trades for less than £1. So what’s happening with Centamin shares currently? Well, as I write, they’re trading for 91p. At this time last year, they were trading for 94p, which is a3% drop over a 12-month period. The shares issues have pulled the markets and many shares back in recent months.
Why I bought Centamin shares and would buy more
During times of economic crisis, like now, due to soaring inflation and rising interest rates, safe-haven metals like gold offer protection in an investment portfolio as the prices of these commodities rise. This can boost performance and returns for firms like Centamin.
I’m not one to invest for short-term gains. With that in mind, I’m buoyed by Centamin’s long-term growth aspirations. In its recent updates, Centamin confirmed that it is on track to produce half a million ounces of gold in 2024, its highest amount. In addition to this, there are positive signs coming from its exploratory assets, especially the one in Burkina Faso. All these things could boost future earnings and investor returns.
Moving on to the fundamentals, Centamin shares possess a dividend yield of 4%. This yield is above-average for a penny share. However, I do understand that dividends are never guaranteed. In respect of the dividends I’ve received to date, I plan on reinvesting these to buy more Centamin, or other UK shares to boost my holdings.
Next, Centamin’s valuation still looks decent tome on a price-to-earnings ratio of 16. This could tempt me to add some further shares to my holdings.
A penny share with risks but potentially lots of rewards
Despite holding Centamin shares, I am wary of some issues that could impact my investment and the business. To start with, Centamin shares and performance could be adversely impacted ifgold prices were to fall. I’m not too worried about this personally as I believe that due to the current economic outlook, gold prices could continue to rise towards record highs.
The other issue Centamin could face is that exploratory assets may not end up yielding anything of note. This would be a big blow that would most definitely impact performance as well as investor sentiment and returns.
Hi Don, Thank you for the post
In this week’s episode of Live from the Vault, Andrew Maguire covers the latest developments on the intensifying paper versus physical battle and the ongoing central bank gold-buying sprees as Kinesis powers gold adoption in Indonesia.
The precious metals expert and whistleblower provides an update for silver stackers before revealing the global ramifications of the BRICS summit and their upcoming commodity-backed currency poised to compete with the US dollar.
https://tinyurl.com/2s496ap5
A SWIFT transfer, also called an international money transfer, is a secure and standardised method of sending or receiving money from banks anywhere in the world.
https://www.keycurrency.co.uk/swift-transfer/
As they ban countries from SWIFT the dollar percentage will obviously rise
Aug 23, 2023
(Bloomberg) -- The dollar’s role in international payments has never been stronger, according to the latest transaction data compiled by global financial messaging service Swift.
The figures show greenback-related trades rose to a record 46% in July, compared with slightly more than one-third a decade ago. The dollar was the top currency as measured by transaction count, followed by the euro, pound, yen, and yuan.
Large global banks use Swift, or the Society for Worldwide Interbank Financial Telecommunication, to communicate with each other and facilitate interbank currency deals. The information Swift tabulates — like some 200 million FX trade confirmations annually, for example — has offered a window into global flows since the consortium began compiling it in 2010. The latest figures reflect a technical upgrade based on changes this year to how trades are reported.
While Swift’s data doesn’t encompass the whole currency market, it bolsters the idea that the greenback’s role in international finance remains robust — even as some efforts emerge toward more diversification. For example, the multilateral lender founded by the BRICS group of emerging-market nations aims to lift the share of funding it raises in local currencies to 30% from less than 20%.
The dollar’s increasing tally of Swift transactions has largely come at the expense of the euro, which peaked at a 46% share in 2012. Last month, the European common currency’s share of trades was its lowest on record, at slightly less than a quarter.
Swift’s data also reveals the increasing frequency of yuan-related transactions as the Chinese currency gradually becomes more embedded in global foreign-exchange flows. In July, for just the second time on record, more than 3% of instructions sent via Swift involved the yuan, while in 2010, that figure was roughly 0.03%.
https://www.bloomberg.com/news/articles/2023-08-24/dollar-usage-in-global-payments-in-july-rises-to-record-swift-says#xj4y7vzkg
--------------------------------- >>>
If the Euro , after so much integration of policies, laws and regulations between neighboring nations has struggled to replace the dollar, indeed - has perhaps reached it's peak a decade ago - how improbable is ;
1) a BRICS common currency to emerge (who would dictate the interest rate?)
2) an integration of economies between such divergent & far flung nations
the rich get richer and the poor get poorer - same goes for nations
Major European stock indexes traded higher in the premarket on Tuesday as investors awaited the latest data on consumer confidence in Germany. On the agenda, this week, are also inflation prints from the aforementioned country and the Eurozone.
The DAX gained 0.17% at 7:47 am CET, while the CAC 40 added 0.22% and the FTSE 100 advanced 0.83% at the same time. The Euro Stoxx 50 increased 0.19% concurrently.
The euro stood flat against the dollar at 7:49 am CET, selling for 1.08241. The pound was 0.23% higher against the greenback and went for 1.26306 a minute later.
Baha Breaking News (BBN) / AY
Hi Tornado,
Thank you to you for acknowledging your oversight and also for the correction, considering the complexity and amount of the information delivered by different members of management at these quarterly updates it's hardly surprising if something in the detail gets overlooked or misinterpreted , so it's great that Dasut picked up on the oversight, seems like its better news than originally thought !
Thank you also to Dasut!
Tibbs
Dasut
I discovered at least two major errors this evening when I doubled checked previous data. The company has extracted ore from the waste mine tonnage to deliver ounces (some therefore not waste) and the company was also doing planned mine stripping the company usually does on an annual basis. Apologies for missing a few comments that were given by the CFO on this. My earlier figure is therefore well off the mark and is lower per tonne when assigned to the actual overburden. Quite possibly by more than 50% on the figure given before. What I have learned was that the contractor was doing a lot more than getting rid of previous waste and so any commentary inferring that is all they were doing is wrong by a significant margin. Thanks for challenging the figure and making me look at again. An apologies if it had misled anybody here or who read that comment as that it was not intended, Tony
Hi Franky,
I remember the Acacia case, it seems the shareholders really did get shafted.
But to be fair the Centamin Sukari situation is somewhat different as the original concession terms are enshrined in law and the company is in equal partnership with EMRA the government agency.
As ear;y as 2015 Kees Dekker highlighted how essential the the higher grades in the underground were to the viability of the whole operation as they were used to supplement the lower grades from the open pit.
This statement came later in Dec 2021
Horgan described these as “bonanza high grade structures” located within both the open pit and underground mines which hosted very high grades of around 30g/t and higher.
He commented, “Sukari has a history of producing these limited, high grade zones, particularly from underground, which have contributed significantly to annual production totals.
“ They were previously discovered by chance but – with our new geological framework and a review of the current drill data base alongside the re-logging exercise – the team is starting to identify and evaluate these opportunities in a predictive, structured and systemic way which allows them to be fully evaluated and then maximised before inclusion in the mine plan.
https://tinyurl.com/bd7ne4jh
“ The FTSE 100 gained 0.32%.”
Somebody was telling porkys this morning as the U.K. market is closed today for a bank holiday.
Please change the tagline, Spooington is my doggies name, she is very special to me, I apologise for using her name indiscriminately purely my mistake
MrTibbles - that all sounds logical but it doesn't matter. The govt have got their hooks in and will just get more and more miltant until they get more money and that will require a sale. Promise. It won't be fair or logical. You have a military power in govt, its massive political risk at play and everything else is irrelevant.
Somnamna should have sent the previou message to you as well.
I see you have changed your tune about accessing underground from the open pit. Just a week ago you were on about Bonanza Grades from deep mine. As you did not realise till now.
As I have pointed out to you several times , only " possible Bonanza Grades " , was in Horgans statement.
You change your coat often , like the Vicar of Bray.
This is one of the rare occasions where I have actually learned from the past and miracles of miracles made a good call. i was incredibly lucky to get out of Acacia Mining in Tanzania with a small profit and had to wait for Barrick to take over and I sold those shares at about 32-33 bucks. Thank God. I made a poxy 15-20% over 3 years which wasn't worth the risk. I said in a post a good 12 months or so ago that, Centamin was vulnerable to similar behaviour from the Govt and now here we are. I can pretty much tell you what's happening here. One of the big Gold producers like a Newmont or Barrick will be in cahoots with the Govt to threaten nationalisation of the mine. They will cite operational issues and environment issues and that they will only allow the mine to reopen if it is sold to a company able to manage it better. The "sale" will require more profits to go to the Govt as part of that deal. You'll eventually get shares in the bigger company and have to sit on them as you'll get a crappy deal. This will take 2-3 years to run its course. It is essentially big business and Govts forcing smaller or independent mines out of business. It's disgusting but predictable behaviour and nothing anyone can do. My advice would be to either top drawer it for a few years if you're in this around 1.20 or so. Otherwise sell and reinvest it somewhere else as this will go nowhere for years.
Isnt LSE closed today?
Hi Somnamna,
Let's hope that the re sculpting of Sukari will finally make the whole operation much safer and more efficient, evidently in the past because of restricted access and ventilation the underground operations were never regarded as seriously as they should have been, but the new changes will mean that the underground workings will be far more easily accessed and this along with the reduced cost of in house operation should be of great benefit to future guidance and profits!
Keep well!
Tibbs
Equities in Europe traded higher in the premarket on Monday ahead of a series of economic reports scheduled for this week's release, most notably the preliminary ones on Germany and the Eurozone's inflation and consumer confidence.
The DAX increased by 0.24% at 8:00 am CET. The FTSE 100 gained 0.32%. The Eurostoxx 50 went up by 0.61%. The CAC 40 advanced by 0.32% at 8:02 am CET.
The euro grew by 0.17% against the dollar at 8:01 am CET to sell for $1.08133. At the same time, the pound sterling rose by 0.18% against the United States currency to change hands for $1.26033.
Baha Breaking News (BBN) / JR
Happy Monday y’al
One may pose the same question to you, i feel I have a right to point out clear inaccuracies, if that offends you sir I will not apologise :)
Hi Dasut,
If that is the case then it is all to the better which would be great!
Which ever is the case though thank you to both Tornado and yourself for the calculations!
Best
Tibbs
Why not give it a rest Spoonington? There are no prizes for being a key board warrior.
Please keep on posting the good stuff of you insights, comments and thoughts on CEY but your aggression against Mr Tibbles is unbecoming and quite frankly a pain. You made your point so why not move on?
Deflection & obfuscation- if you continue with this I will remove the gloves & become invective as previously advised :)
Tornadotony, Grateful if you can tell me how you arrive at $3.55 to $3.75 per tonne for waste as based on my experience I feel this is high for a truck and shovel operation. Thanks
Members may find this link of use as part of their mining company research
https://www.cruxinvestor.com/about
Centamin
While the future looks brighter for Centamin, investors may want to take a "trust but verify" approach, looking for an extended track record of outperformance and flawless execution before viewing the operational turnaround as fully secured.
There is still work ahead for management to translate potential into consistent value creation.
https://www.cruxinvestor.com/posts/centamin-plc-q4-2022-investor-presentation-summary