Centamin PLC Share Chat (CEY)

i was considering buying by the bounce back but today's gold drop, maybe I will get a better price waiting

They said hold at 190 but new price 2.00? Perhaps once the mine has been reassessed or we have a Management report we can see another upgrade coming and a reason for the directors to be buying in here with support?
13-Aug-20 Berenberg Bank Hold 190.00 200.00

Mr T thanks again -agree we should not take over the board -but I will say we had a Covid19 Planning meet, & the govt gave authority for the head of the local council be able to make a decision under Covid rules. The councillors were consulted (gave a majority vote in favour & still they refused permission) they will not give minutes of the meeting either but issued short notes. Our planning consultant thinks we will have field day. Planning officers did visit site say no other neighbours were affected and then Council management over ruled them - as I say the whole think stinks.
For Centamin -hope we pick up this afternoon I see both Fres and Hoc slightly up (even with precious metals holding water at some high levels but more than likely will rise further especially if the FED is to rescue the USA economy. I am pretty sure as some have reported on here the situation is far worse than reported World wide.

Thanks very much for the reply Sotolo. It’s very encouraging that there were directors buys 3 days after that update. They are in the know and saw the drop in share price as excessive and capitalised on it.

I think we pretty much all see it as long term good which is why we invest here. Amazing yield at these gold prices, but of course very dependant on which way gold goes. The mine problem look like inflicting a big short term hit to profits so looking forward to the next quarter results with hopefully more clarification

Yamana not quoted. -

Hello everyone. I’ve been looking at this company and I was amazed by how brilliant this company is and how undervalued it is at this price.
I’ve seen gold mining companies on the AIM before, they were all Mickey Mouse, only ever sampling and never mining. But this is impressive, huge profits after tax, an enormous amount of net assets.
I see the latest trading update about a set back really hit the share price but that is a serious over reaction for the share price to drop so much. Surely will return to 200p a share short/medium term.
How do others see the prospects of this share?

Not wishing to take up too much board time but,
If the councillors concerned have done a site visit then for the findings to be considered there would have to be a written record /report, your panning office would have this and you are entitled to see and challenge it.
If you suspect that councillors are abusing their position of office or are guilty of misconduct then you can report them to your councils chief executive and you then have to option of going to the Local Government Ombudsman .
With that I won't take up any more board time on this particular subject, but hope you get your desired outcome .

I agreee it would be very helpful to know the source of this report.

Hello PhatStyle4321 thank you for posting this buy recommendation, can you tell me the source please?

The Sukari gold mine has been in operation for ten years and, with a 10.3 million ounces gold resource base, is long life, bulk tonnage open pit and underground. There is also plentiful exploration potential still with a 160km2 tenement area and some other projects – the company also previously updating on Q2 “on its two principal projects in Côte d’Ivoire… At Doropo, in H1, approximately 28,000 metres of step-out and infill RC drilling had been completed on several of the Doropo prospects including over 15,000 metres along the 10km long Kilosegui structure. The main drilling works planned for 2020 will be completed during Q3 with the objective of carrying out a Mineral Resource Estimation update by year end. At the ABC Project… in H1 approximately 2,300 metres of core drilling has been completed on the southern zone along the Lolosso corridor. Drilling data from the last 18 months of exploration at ABC will be incorporated into a Mineral Resource Estimation update scheduled for completion by year end”. However, it is currently Sukari which remains key…

The company’s half-year results noted gold production +9% to 256,084 ounces, with all-in sustaining cost 4% lower per ounce to $899 and average realised gold price up to $1,657 per ounce. There was a pre-tax profit of $191 million on revenue of $449 million, with even after particularly profit share and dividend payments (the latter more than $69 million), cash +$43 million to $321 million. There were $151 million of other current assets (-$17 million) and $75 million of total liabilities ($6 million reduced). The results added “full year production guidance of between 510,000-525,000 ounces of gold”. The latest includes “preliminary gold production for the three months ended 30 September 2020 was circa 120,000 ounces” and that a previously-announced and “well advanced” ‘life of asset review’ will include an updated mine plan, with “the high-grade Stage 4 West wall was scheduled to be mined during Q4 2020 and 2021. The area contains circa 90,000 ounces of gold in situ at grades of up to 2.0g/t Au”.

This not now to be so is a bit disappointing, but in the context of the scale of the project doesn’t look particularly significant – yet the shares have responded by knocking more than 18% off a prior £2.3 billion (currently equating to approx. $3 billion) market cap. That was with the shares already down from more than 230p reached in August – and we see gold getting still stronger as macroeconomic reality has yet to really bite. Noting the scale of this latest, that there was a net more than $100 million generated in the first half at $1,657 gold and the dividend (half-year $cents 6 per share).

Therefore, targeting a return to well above 200p as the latest is shown as of little long-term significance to the Sukari project and as the gold price moves forward, buy.

Article without the link:
Canadian miner Yamana aims to strike gold in London float as it predicts a bull run in precious metal prices

Canadian miner Yamana Gold will list on the London Stock Exchange today as it predicts a bull run in gold prices.

The gold group's founder and executive chairman Peter Marrone said it was a 'well timed' move as the firm looks to reel in European shareholders.
The company, which is worth £4.5billion on the Toronto Stock Exchange, is due to produce nearly 1m tons of gold in 2021 and has mines in Canada, Chile and Argentina. 
London is one of the best-respected hubs worldwide for metal trading and many companies based on foreign stock exchanges also seek listings on the LSE or AIM.
Yamana is also listed in New York. 
Its share price in Toronto has risen by more than 57 per cent so far this year and last week it hiked its dividend by 50 per cent with gold is worth around $1,925.

Marrone said he wanted the firm to become the 'investment of choice' in London and to overtake LSE stalwarts such as Fresnillo, worth £9.7bn, and Polymetal, worth £8.1billion.

https://www.dailymail.co.uk/money/markets/article-8832023/Canadian-miner-Yamana-aims-strike-gold-London-float.html

Equities on major European stock markets were higher in premarket trading on Tuesday as investors mainly focused on negotiations between London and Brussels on the two sides post-Brexit trade relations. United Kingdom Prime Minister Boris Johnson stands ready to "work hard" to reach an agreement, a Downing Street spokesperson noted, while French State Secretary for Europe and Foreign Affairs Clement Beaune warned that Paris won't support a deal "at any price" to avoid a potential no-deal Brexit scenario.

On the data front, investors await unemployment data from the UK, as well as a statistical report on German inflation that is set to be released before the opening bell.

The DAX in Frankfurt added 0.12% at 7:34 am CET, while the FTSE 100 gained 0.40% at the same time. The CAC 40 was in the green territory as well, climbing 0.14% concurrently. The euro slid 0.10% at 7:36 am CET to change hands for $1.18002.

Breaking the News / GA

Mr T -great advice with a normal council but I regret the local planning officers are being directed by their senior management and we suspect one of our neighbours has influence. The local councillors have also told porkies by saying they had actually been on our site when they had not. We know that for sure as we also care for ex-police german shepherds, and so lets just say if they had been on site we would have known about it -or rather they would. To be honest we are taking the council to the Sec. of state I am fed up with them. I am also going after costs and we have a very experienced planning appeals specialist representing Dad, who suspects the same as me " Foul play" - so we will see what happens.
I'm hoping the CEY price can keep edging higher to pay for our fees. Thanks for your help.

Goldman article , https://on.rt.com/asar

Blackrock for one, "Gold is a hedge against low interest rates, not market risk" Kitco news.
Goldman Sachs "Dump the dollar".
Blackrock, splitting hairs it seems. When changes can quickly reverse. A little like Donald, who now is desperately courting Mary Pelosi again for more fiscal aid, before the election, smells of desperation setting in.
Goldman Sachs , actually advising dumping the dollar , very much a stab in the back for the dollar as reserve currency. I wonder what devious plan they have come up with, are they buying Roubles and Yuan, as well as PM s ?

Not for me to interfere , but I have some friends (now retired)who were senior officers in the councils planning department, around 10 years ago they were saying that restrictions were getting so lax that people could almost do what do they liked, especially if it concerned single storey, this was because the council was afraid of the legal costs if the home owner/developer went to appeal as they would most likely win the case.
Since then the planning restrictions have become so lax (due to central government ) it seems its almost possible for people to chuck up anything they like in any space, certainly that is the situation near me where builders are buying up properties to cram another tiny house or two within the existing boundaries of the original property.
You neighbours may have objected and won in the first instance, even so it may well be worth you making an appointment to just have a chat with the responsible planning officer, usually these people are very helpful and might offer you a way to build your Dad's library!
After all the government is committed to providing more homes and reducing the burden of social care on local councils, you have acted very responsibly as a caring sibling and has helped relive the local council of having o provide for you Dad and he has made a much needed home available in the area he moved from, helping that local council.
See how you get on with your local panning officer and if that doesn't achieve the desired result there are some other options to try, you will succeed in getting Dad his library in the end, if you really want to!
Tibbs

Just reported on bloomberg Trump is already saying Pelosi's stimuli package is now where near enough and so as expected the arguments continue to rage. Just seen the Silver and whats more Gold price charts are starting to move upwards which is good news for us here. Looks like the stock market may be open in the states but the treasury and bond markets are closed for Columbus day.

Mr T some very good political and social educating points. I wish my neighbours were more compassionate as they all have got together and rejected my plans for extending out house to provide an Annex and Study for Dad despite us having a large garden for it. They just think of themselves. My wife enjoys her books too but everytime I see one I see a new shelf being required, ha.ha.
Back to Centamin I have a feeling we are treading water awaiting My Johnsons speech later for some market direction. I would suggest in all probability we will start moving up later however anyway but NYSE is I believe shut for Columbus day? Maybe we should have more special days to put less reliance on lock down, ha.ha. ATB one and all.

Hi Supercharger,
Your dad worked so hard for his books and through them he was able to achieve his ambitions in life to educate others ,so they could also achieve their ambitions, now those books will be a reminder of what life has been about and provide him with entertainment and mental stimulation, so vital in these present times of enforced isolation or imprisonment of older people!
He won't need 5g or indeed any 'G" to use his books, so good for him, far too many people in today's society get hooked in by the slick marketing and believe new stuff is essential and then get trapped on the merry-go-round of never ending consumerism and debt.
The whole system is based on people taking on more debt buying/renting more and more poorly made crap of whatever from cars to kitchens and sofas most worn out before they are paid for, not good for people or the planet!
Now our out of touch politicians are considering 0% interest rates so ordinary people who may have some savings will be encourage to spend them and the banks can borrow more of the ordinary peoples money at 0% and then charge then 20%-40% interest on their credit cards!
This is what needs sorting out, but Boris and his friends certainly have no inclination to do so!

Quite so Mr Bond,the majority probably CFD trades wanting to be in and out within a trading session so they make a quick profit and avoid paying any interest on the CFD leverage!
Time CFD trading paid some(stamp duty) transaction tax, that may help stabilise things in the market, of course because Centamin is dual listed it trades stamp duty free, this makes it very attractive to short term traders.

Won't hold this back long. Nice steady build to Q3 results I think.

Good morning all.
Mr Tibbles you know the reason.
Traders jumping in and out for their quick buck, as usual.

Nice start and then SP gets knocked back, again!