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I found the original post, posted by “Longimaner”, a new poster (with 8posts)
“Barrick as you know is completely, single-mindedly focused on tier-1 assets, and so it’s going to be of interest to us because there aren’t many tier-1 assets left that we don’t own or own part of,” he said.
Tier-1 gold assets are generally considered to have output of at least 500,000 ounces a year and long-term costs at the lower end of industry averages.
Hi Supercharger, Your Dad did very well indeed considering the situation for ordinary people when he was a child. The Acacia share holders have been treated very shabbily to say the least, but then in my personal experience of several buy out's of companies doing well I lost out on what the companies were really worth whilst the predator's enjoyed all the benefit of the takeover. It would have bee a similar story if "Slimy Seb and Endeavour had succeeded in their bid for Centamin. I would be very surprised if the "The White Hunter" would sort out the court case and he would most probably make things worse if he tried to bully the SCC.
Well if he dosn't like paying dividends ,Centamin will not suit them. On top of that ,effectively Emra get 50% of profits, which puts production below his cut off of 500000oz. IE , 50% of production is for EMRA. If Centamin were to double production, then maybe we would be a target. At least that is what I am hoping.
Hi Chaps thanks for the comments -yes pretty proud of Dad he was the longest serving headmaster in london (Sidcup area of Bexley) and got there from having nothing as a child (sometimes not even any shoes to go to school with after his own father died when he was only 2 - no welfare state in those days ). For the White Hunter yes he said when taking over Acacia that he was not interested in smaller mines less than 500,000 oz a year, and so sold off their Mali and was in the proceeds of doing so in of interest Burkina Faso. He still owes Acacia shareholders for those divis as I have not had anything paid to me yet. (perhaps they have not yet been paid?). So lets see but he likes buying and then developing further so he might see a growth potential at the very moment we have in Egypt. He does talk a good game (as well as shooting it) so we are facing a Challenge from someone experienced in sorting problems? He particularly likes sorting out those in court and with govts (ring any bells). However last week on Bloomberg the white hunter was talking about more consolidation is required in the Gold industry? I wonder why?
If White Hunter gun toting Bristow wants to get hold of Centamin then he will have to dig deep and be thinking about £5 a share, however should he do so he still has to rub along with EMRA and that would be interesting, quite a change from what he is used to!to bully them! He won't want to do that he is far too arrogant and greedy!
Thanks Razors. Before the last production problem I was seeing 250 this year and 300+ at some point next. Depending on the scale of the production issue (21 Oct will be interesting), the life of mine report later in the year, POG and of course what production is called for next year, I still reckon we could move to between 250 and 300 next year.
In the short term I have just agreed to purchase a commercial property so the answer has to be yes but I believe in the medium to long the answer would be more inline with no especially with Librium having recently had a £2.90 target albeit gone due to the recent situation.
Someone posted a few days ago that the Barrick Gold ceo had said in a virtual online African gold conference that they were hunting for single mine companies producing 500oz or better per annum. Just crossed my mind he must have his conference speech mesmerised and learnt off by heart because he said exactly the same thing a year ago... For sure I’ve heard his remarks word for word in the past.
Seem the Democrats and Republicans are narrowing their differences for a further stimulus in the US. Would not be surprised to hear that announced in the next week. That could be the boost we need for gold.
Hi Supercharger, Thanks. And yes I have plenty still in here for the ride back up. Delighted to see a weekend close at just over 1930. Here's to back to the 2000s and beyond. Great to hear you are doing well with FRES and HOC. Good luck with the caring responsibilities. Best wishes, Neil
Looks like you had some foresight to keep some in here. I see the commodity prices have risen quite sharply tonight. I can see the Gold prices rising back up to 2,000oz at this rate. I see Silver tonight on catch up is currently up over 5% today which will help my little spread across my other holdings in FRES AND HOC. -GLA. Mike I care for my 92 year old father too, (we lost my wifes Mum recently) (I retired early to do so) & have stayed retired despite offers to go back up to the smoke, money is not everything but it helps & so I know how hard work it can be looking after the olduns -although I am not getting any younger either. Take care.
Thanks Tibbs we know so little what goes on.. With too many noses in the trough.
Any way Tibbs great to hear the inside track, appreciated... Do you still have contact with the man on the train.... And insightful posts from so many to name Prof, chowican, marmot, dasut, the lists goes on. . Very lucky to have an exceptional board including some great additions by siko etc
Hi Mike, Nothing wrong with your post, all true and to the point, you expressed what so many are afraid to, the Thursday night pots and pans rattling to save the NHS, what a great diversionary tactic from a government which knew after two decades of Tory sly selling off was no longer fit for purpose i.e. to carry out scheduled operations and treat the people with Covid-19. People have been paying their national Insurance for the NHS and should get the treatment as and when they need it, but under a freedom of information request I found that George Osborne had pinched £2 billion from our national insurance fund towards paying off the National deficit! There was an online petition to but it only attracted 175,000 signatures and a million were needed to force a debate, my Tory MP refused to help, what a surprise. What next do we apply this policy of not using an emergency service to in order to preserve it, don't call the fire service they might get burnt, instead bang saucepan on your head whilst your house burns! There you go a rant from me ! I was speaking to someone in the know and they assured me the Sukari problem is being sorted the right way, they will get to that high grade gold, so stay strong!
in the past decade, 30% of global gold discoveries have been made in West Africa. The region has a “phenomenal discovery rate” and a strong record of seeing projects through the exploration mining life cycle, from discovery to production...
It has the highest gold growth-rate in the world, with more than 250-million new gold ounces in mineral resources and 110-million ounces in reserves generated in the last 25 years.
Most of the more than 40 mines that have come on-stream during the past 25 years are exploiting shallow openpit oxide resources, with the upside underground potential still to be adequately assessed...
much of the region can still be considered “immature” in terms of gold exploration, as it has “untapped gold potential” with many areas being underexplored, says Robertson.
He stresses that “it is still early days in West Arica” and that significant discoveries are still being made.