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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!
Believe it or not this article appeared in Egypt's elbarima news Aug 2, 2023 (here's some highlights - keep in mind Mulla is the main go-between with the EMRA & Centamin)
Despite his tolerant features and his “jovial” smile, which indicates a good heart and complete calmness, he is quick to anger, does not accept repeated mistakes, decisive in his practical dealings
Organized to the point that he gets angry if he finds anything that is not in its proper place and location. He sanctifies married life and helps his wife in arranging the house. With “Ahmed”, his only son, a father and friend, he has the ability to deal with his children by being kind to them.
During his tenure at the Foreign Trade Prosecution at the General Petroleum Corporation Mulla was able to reach very satisfactory understandings with major international companies that supply petroleum products and crude oil
Mulla also worked to attend international mining conferences to attract the largest mining companies in the world including Barrick, B2 Gold, and others
The law regulating the activities of the gas market the most important achievements of the era of Mulla, which will be followed by the transformation of Egypt into an international regional center for energy trading, increase in revenues and improvement of the economic situation
Mulla was able during 7 years to achieve that had not been achieved for more than 25 years, to transform the Egyptian oil sector
He sanctifies married life and the satisfaction of his parents and their prayers, the secret of his success in his work. His favorite food is “moussaka”
Mulla is born in the sign of Gemini, and the people of this sign can see two completely different personalities in them, which he expresses by saying: “As much as I am nervous when I calmly guide the one I got intolerant of, and when I yell, my voice remains loud
This kind-hearted personality was reflected in his relationship with his wife: “I am one of the men who loves the house, not just the kitchen."
His father is the ambassador, the heroic fighter, the righteous son of Egypt, Ahmed Abdel Qader Al-Mulla, who used to work as the consul of Egypt in Palestine, and it was fate that one of his periods of diplomatic work in Jerusalem in 1967 was the war period, so he remained steadfast in his position, neither retreating nor retreating in the face of death and the Israeli army
The article goes on here https://elbarima.com/%d8%a7%d9%84%d9%88%d8%ac%d9%87-%d8%a7%d9%84%d8%a3%d8%ae%d8%b1-%d9%84%d9%80%d9%88%d8%b2%d9%8a%d8%b1-%d8%a7%d9%84%d8%a8%d8%aa%d8%b1%d9%88%d9%84-%d8%b7%d8%a7%d8%b1%d9%82-%d8%a7%d9%84%d9%85%d9%84/
My takeaways:
1) WTF
2) Didn't know Mulla was once head of foreign trade prosecution, probably means Centamin doesn't want to f*ck with him
3) All in all sounds like a plea from Mulla to stay in his role (or a thank you very much, now goodbye) depending on who submitted the article for print
There was a lengthy interview with the Centamin boss some years ago in either the Times or the Torygraph when he explained the choice of Sukara. It seems there were a number of options in Egypt available to the company, but Sukara was the closest to water. Does anyone in the know have information on these other options? I suspect they were shelved as uneconomic.
“Cowichan has been very proactive in finding good news about Centamin, but I suspect he just got tired of not getting answers to is questions and enduring the way the share price languishes”
Tibbs, I’m sure Cowichan was ‘very’ good at finding good news when he was invested here. However, his present engagement lacks any enduring commitment, as he merely lingers to propagate negative comments, which in all likelihood, will be transformed into effusive praise once he acquires a position. 😏 So, there’s no enduring anything, he’s not invested. Resentment festers and behaviour like this is often attributed to the innate human tendency to recoil from feelings of powerlessness, leading individuals to seek avenues to assert themselves and retaliate. It appears that this board has become his figurative punching bag. If his conduct with Centamin mirrors this approach, then it becomes unsurprising that the company has been evasive in addressing inquiries.
Take the last three posts " with a large Spliff and a tumbler of Jack Daniels.
;-)
Hi Mary,
These shares ain't going anywhere until $300-$400 come off the AISC !
The liquid assets are lass than half of what they once were because of the managements past bad practice and greed!
Take what Gold Eagle prints with a large "Spliff" and a tumbler of Jack Daniels!
Hi Daz, I think its fair to say that in the past Cowichan has been very proactive in finding good mews about Centamin, but I suspect he just got tired of not getting answers to is questions and enduring the way the share price languishes in the bottom of the spittoon of "The Last Chance Saloon" with not getting his questions answered!
Oh I agree about being a single source provider, but then according to the website Pardey and Co were supposed to be developing the other satellite operations in West Africa , although as it turned out they were just expensive drilling operations that seem to have produced nothing other than more disappointment, although of course they were a bit of a diversion from what was going wrong at Sukari!
5 years
1. Shanta Gold ShG
2. Anglo Asia AAZ
3. Endeavour Mining EDV
4. Centamin CEY
5. Fresnillo FRES
6. Hochschild HoC
7. Hummingbird HUM
3 years
1. EDV
2.ShG
3. FRES
3. CEY
3. AAZ
6. HUM
7. HoC
One year
1. HUM
2. HoC
3.CEY
4.ShG
4. EPV
6. AAZ
7. FRES
3 Months and 1 Month same line up
1. HoC
2.ShG
3. CEY
4. EDV
5. FRES
6. AAZ
7. HUM
Everybody at some time has their day in the sun.
This bit seems to be the reference - chances are there will be a significant find once explored more.
Centamin PLC
Centamin reached an agreement with the Egyptian government on the exploration of the 3000 km² of ground in the Easter Desert and has drilled 3,000m so far. The agreement covers three major blocks and is important because the ground has been largely unexplored. Centamin is Egypt's largest producer and possess a strong balance sheet. Centamin produced 220,000 ounces from the Sukari Mine and is on track to produce 460,000 ounces this year at AISC of $1,400/oz. Cash and liquid assets are $161 million. The shares should be bought.
Near the end of article.
https://www.gold-eagle.com/article/gold-why-empires-fall
Good post Daz. You say it how many are reading it but are not wanting to feed the agenda/illness. It’s all very sad.
Cowichan: “I talk about a Centamin and the country which it operates in”
Well, I don’t know a single investor that dedicates all their posts and time to a board where they have no financial investment. I know not a single investor/trader that acts that way, none of us on this board exclusively focus on another board where we have no financial commitment, why would we? Naturally, such behavior raises questions about your underlying motives.
Cowichan: “You simply talk about me”
Given your peculiar behavior, it is only natural to speculate about a vendetta, perhaps stemming from your past negative experience with Centamin, or perhaps you had a disappointing vacation to Egypt 😂. My intention is not to launch a personal attack, but rather to observe and analyse this pattern of conduct and behaviour. There is no need for me to tarnish your credibility, as your actions and posts here already provide ample evidence and you’re doing a fine job running your own smear campaign. As Radiohead sang “you do it to yourself, you do…and that’s what really hurts”
https://youtu.be/oIFLtNYI3Ls