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Hi 3Bear,
I have to disagree, if you care to scroll back over the years you will finf that Cowichan has been very proactive at times in promoting good news about the company and has actually brought positive news to our attention that we mayy not otherwise have known about.
Also he does raise the issue of only wanting the view of events through the rose coloured glasses indeed i have been guilty of that far oo many times in the past !
I remain suspicious of what we are being told until we some proof that the the "Reset" has occurred by a substantialist fall in AISC and the promised and sustained production.
In the past I chose to believe Andrew Pardey and the managements statements and forward predictions rather then those of an independent but very experienced mining analyst Kees Dekker who warned that all wasn't as wall as claimed at Sukari, an expensive mismake on my part!
Andrew Pardey lied to me on cellphone call ins on two occasions and he declined to answer my correspondence occasions.
The Sukari operation was deliberately run using by bad mining methods for short term gain although that was consistently denied by Andrew Pardey and I find it hard to believe that the Jersey BOD were as they now claim unaware, also how many years did the company waste time and money on the Cleopatra slope which delivered anything and what now of the claimed underground "Bonanza grades' they haven't materialised, so was this a case of yet more "Baloney grades!"
But hat said I remain a substantial Shere holder and I shall continue to try to get some answers although that is increasingly difficult or near on impossible, so a big thank you to Cowichan and in the meantime I await to the 'Proof in the pudding" and hope we haven't been taken in again!
Thanks Fitch :-(
I concur, Cowichan. Astute traders would invariably conduct thorough research, considering both positive and negative news before making investment decisions. When a trader delves into discussions concerning companies they have no vested interest in, it raises curiosity about their motives.
Your comment, 'I've observed certain individuals posting critical remarks about other companies in which they have vested interests,' underscores a crucial point – when individuals are not invested in a particular company, and everyone else has diligently examined and chosen to invest in Centamin, it should come as no surprise that their demeanor might appear unusually off-center and cranky to Centamin investors.
Major stock indexes traded lower in the premarket on Wednesday as investors continued to digest the latest manufacturing data on the continent, which seemingly raised concerns over the economic outlook.
Meanwhile, the sentiment also seems to have been affected by the Fitch Ratings' downgrade of the United States credit rating, which was adjusted from AAA to AA+.
The DAX tumbled 0.72% at 7:34 am CET, while the Euro Stoxx 50 and the CAC 40 both slid 0.68% at the same time. The FTSE 100 declined 0.54% simultaneously.
The euro edged up 0.10% against the dollar at 7:40 am CET, selling for 1.09957. The pound was flat against the greenback, going for 1.27809 concurrently.
Baha Breaking News (BBN) / AY
Happy hump y’al
Https://www.investing.com/economic-calendar/
Exactly all indicators for US in red,
WTF why gold price drops?
Does this chat board exist to only post positive messages - regardless of management?
Or put another way, would you prefer negative information about Centamin be suppressed ?
I've read the comments some here post regarding other companies in which they also invest, and many of those comments are critical - to the point they question why they held the shares despite a declining share price. I never once considered censuring them, or asking them why they post - on the contrary - I would welcome learning from their experience.
But perhaps that's a result of non-anonymity. I routinely discuss investments publicly here: https://www.linkedin.com/in/don-lawson-98619370/
It's not that I don't trust you as anonymous posters (well actually I don't) it's that I question who invests their money with a blindfold over their eyes and insist any negative detractors put a gag in their mouths.
Also, I've answered your questions before , I am still willing to invest in Egypt , but only if and when Centamin's management is replaced by competent individuals more concerned with the wellbeing of the company than enriching themselves & their cohorts.
The number of conflict of interests the current CEO Mr Horgan has racked up in his 3 and a half long years is astounding - if not bordering on criminal.
Cowichan glad to know you're not one to shoot the jester...just dunno why you never have anything even mildly positive to say about this company - your analysis is unremittingly catastrophically negative, why are you doing this?
I can understand the troll remark from 007. Cowichan, I think I read you’re not invested in Centamin, is that right? Then why hangout on the board? Perhaps you have a bit of a vendetta against the company. It does come across as troll like behaviour, perhaps you don’t see that? Unless you’re considering getting in again and hoping to contribute a pessimistic outlook to the board, hoping to save a few pennies.
The CFO was on board with what a lot was delivered along with a host of staff involved in a cost efficiency drive involving $150M per annum. All of those teams deserve credit as well.
As for Centamin in the past and what it is now. Well a leader can look good when they extract what is good at the time and leave a polluted mess behind as they do not get care about the inheritance to others. It is the leader who is a builder who is not the emperor in his own kingdom, has a vision of leaving behind value, excepts criticism and feedback as it generates an environment of creativity and efficiency, has the strength (and humour) in that role supporting development of others is the true and better leader as they leave behind the aspiration in others of an example of being the best they can be. Tony
Hi 3bear,
I appreciate the candor and humor. Admittedly I do wear the pessimist mantle. But for the sake of nostalgia let's compare the way we were (plug to BS - that's Barbara Streisand not the other BS) to where we are now - and see if Centamin has become the world class outfit other miners might want to emulate.
Then (from 2018 AGM Presentation) file:///C:/Users/peter/Downloads/cey-investor-presentation-2018-agm-260318.pdf
1) Self-performing, self-funding and staged development approach
2) Becoming a multi-asset gold producer maintaining a lowest-quartile cost profile
3) Creating long-term returns on shareholders capital , dividend 12.5 cents US
4) Exploration spend is results driven. 2018 ~$38m
5) Cash on hand $418 million
6) Lowest cost quartile gold producer - forecast AISC $770/oz
7) Overall head grade 1.57 g/t
8) Strip ratio 3.4x including low-grade material (down from 4.7x in 2016)
9) zero hedging
Now
1) LOC Ready To Be Deployed (& paying over $10 million in annual fees to maintain its existence while undrawn)
2) Still becoming multi-asset (if Doropo gets a green light) by 2027ish & forgetta bouta lowest quartile costs, forever
3) Long term share price performance flat , dividend a small fraction of 2016,2017,2018, etc
4) Exploration spend almost non-existent
5) Cash on hand less than a quarter of 2018
6) Highest cost quartile gold producer - forecast $1300 - $1400 (doubled since 2018)
7) Overall head grade sub 1g
8) Strip ratio double or triple and no end in sight
9) buying forward sales puts (costing $6+ million for 2023 alone)
A note to 007 - who is the troll? Your laser focused fascination with me would be flattering if you weren't so creepy. Come out of the shadows and talk - I'm not hiding under a bridge attacking like you , troll
https://www.linkedin.com/in/don-lawson-98619370/
In all seriousness, and for what it is worth, I think Martin Horgan is a superb CEO, he has the bit between his teeth. the work he is doing at sukari, or rather the work his mine manager is doing under his direction has given me massive confidence in the management of the open pit in that we will not see any sudden drops from here. The focus on safety, that a safe mine is a well-run mine by definition (DASUT any views on this?) rings true to a non-mining investor like me. The ounces growth will not be as fast as some would like but his emphasis is on sustainable growth. Isn't sustainable growth the holy grail of good investment? This stock is not without risk - every possible, fabulous and imaginable wibble wobble wahoo WTF I have issues type risk is put on here by cowichan. But the bottom line is this is a well run business in a slightly risky set of jurisdictions. If you are happy with the latter, then invest as much as you feel comfortable with and I think things will go well. I'm all in at this point at an average 95.8. Doesn't mean I don't regret doing a steve and offloading at 99 to pick up at 93 the other day hey ho - but on balance this is a good long term bet. Good luck everyone.
3bear,
Spot on ,pity the troll and friend do not want to know the truth,
What a superb and world class business Centamin is becoming?
The efficiencies achieved at Sukari are fantastic. Putting things right from the ground level up. Matching excavator bucket sizes to the truck load capacity properly has resulted in significant increase in Mt shifted just down to good practice, a tyre workshop to extend life of tyres at 12000US per truck x48 trucks, recycling grinding media, reviewing explosives and leech consumables to increase effectiveness, the coming gravity circuit to extract gold before it even hits the cyanide. grid connection - even if there are power cuts during the day sukari can load up the batteries overnight from the grid and then whack in the solar from dawn to dusk. It's not just the diesel saved it's the trucking out to the mine site - an artic-tanker truck delivers around 30,000L per truck, so at the minute that's three tankers of diesel not going to sukari every day due to solar this is fantastic. This company is rare in that it is doing everything from greenfield exploration/prospecting to site development to crunching out ore in massive volumes. It is the most exciting stock in my portfolio and I urge you to BUY. (Er Alex BC what is my fake name on here is it 4bar or something, best Martin xxx)
The death of a delivery worker inside an elevator in Mohandessin, after he was detained for several hours due to the elevator's breakdown due to the power outage
https://twitter.com/RassdNewsN/status/1686285851049783296
Prices of precious metals extended losses after economic data reports from the United States showed that the country's manufacturing sector remained in contraction territory, but also pointed to a slight decline in job openings and to an increase in construction spending.
Traders will continue to monitor data and remarks by central bankers globally to try to predict when the interest rate-hiking cycles will end.
Gold decreased by 0.92% to $1,947.14 per ounce at 10:40 am ET shortly after recording a 1.1% fall. Silver lost 1.86% to land at $24.30 per ounce at the same time. Platinum fell 2.21% to $934.26 per ounce at 10:41 am ET. Palladium declined 2.18% to $1,227.48 per ounce concurrently.
Baha Breaking News (BBN) / MS
Despite denials from the host country, some market analysts believe that a gold-backed BRICS currency announcement may still be forthcoming at the August summit in Johannesburg, South Africa.
According to a recent research report from London-based CrossBorder Capital, “The BRICS economies (and some 40 ‘friendly’ nations) look set to endorse a new gold exchange standard by using their swelling gold reserves to back (or strictly, partially back) a new international currency unit, so far unnamed.” They characterize this as the “most important development in international finance since the 1971 Nixon Shock” when the United States abandoned the gold standard.
https://www.kitco.com/news/2023-07-31/BRICS-currency-could-roil-gold-Treasury-markets-even-if-it-doesn-t-displace-the-U-S-dollar-CrossBorder-Capital.html
Hi Up,
Yet the Tories claim to be the party of low taxation!
They are now charging tax on VAT on alcohol!
12% tax on insurance for instance which so many seem to have forgotten about, now they are going to take 11p off a pint of draught and put a £1 or more on a bottle of spirits and they will get away with it because on one dare speak out as alcohol it's bad for our health!
Could t agree more r1234,
Unfortunately too much media coverage is given too the likes of Mr Farage and far too many of the 'Sheeple' are taken in by his rhetoric which is biased to say the least !
https://uk.news.yahoo.com/emily-maitlis-slams-nigel-farage-105355786.html
Of course two years ago it wasn't a dead cert the Tories would loose the next GE. I still put £50 on though, should get enough back for a night out.
I don't know why people are surprised. We are part of a global economy and Britain will find it difficult to compete until the rest of the world has caught up with where we are now. Our standard of living will go down as we lose out to countries where the cost of business is less. Barring some miracle boost in productivity we should expect things to get worse. I think some BoE official mentioned this a while back and was vilified by the media, seems to me too many people have their head in the sand.
Major European indexes were little changed in Tuesday's premarket trading as investors awaited the latest reports on the manufacturing activity in the private sector across the continent, as well as German unemployment data. On the earnings front, HSBC and Daimler Truck posted their results, while BP is also set to report before the bell.
The Euro Stoxx 50 added 0.06% at 7:28 am CET, while the DAX, the CAC 40 and the FTSE 100 all increased by 0.05%.
The euro was flat against the dollar, going for 1.09944 at 7:33 am CET and the pound lost 0.05% compared to the US currency to sell for 1.28284 at the same time..
Baha Breaking News (BBN) / NP
Hi Cowichan,
It's always been the same in the UK , the people pay to bail the banks out and then the banks carry on screwing them whilst being given almost free peoples money to play in the stock market casino!
the savers rates are always derisory and the accounts usually have all sorts of restrictions and penalties if you want to draw your own money out before then end of the term and most of these savings account limit the amount that can be put in each month and put restrictions on the amount they will pay the higher interest rate.
Whilst our UK banks were allowed to borrow our mnmoney arr half a percent they were charging customers 18% to 39% credit card rates and sone of the shark loan companies 99% interest!
UK Banks really are a bunch of stinkers and our government let's them away with it because our economy supposedly needs them!
Parliamentarians Chris Bryant, Labour MP for Rhondda and member of the Foreign Affairs Committee, and Keven Hollinrake, Conservative MP for Thirsk and Malton and a member of the Treasury Committee, discuss how the laundering of ‘dirty money’ in the UK affects individuals and how the war in Ukraine has had a clear impact on political will to action change. https://tinyurl.com/5j2hfd27
The UK is second on the list of global money laundering hotspots, new research from Credas has found.
https://tinyurl.com/26c2kchs
To UK savers!?
https://www.ft.com/content/e03abe49-a513-4777-8d90-32e252733690
Several banks have raised their savings rates in recent weeks, including HSBC, whose standard rates have increased from 1.35 per cent to 1.75 per cent, and Barclays at the end of June, whose top everyday saver rate rose from 1.00 per cent to 1.51 per cent in mid-July.
https://www.ft.com/content/e03abe49-a513-4777-8d90-32e252733690
--------------------------------->>>>
If this is an accurate account of savings interest rates in the UK - then I am in disbelief.
Easy to find 4.85% interest rate at Canadian banks with no term or withdrawal restrictions -
I too would be looking for high dividend stocks if I lived in the UK and could not find a decent return on liquid cash portion of holdings - unreal!
It was ever thus - the tories will win the next election