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Https://twitter.com/centaminplc/status/1681221866210353152?s=61&t=wPRUR5w_YhDaiuhBs7gRKQ
Major stock exchanges in Europe were flat to higher in the premarket hours on Tuesday, with the Eurozone currency surging to a new peak against the US dollar, reaching its highest level since February 2022 to hit $1.12626 at 7:15 am CET.
Meanwhile, Novartis reported better-than-expected second-quarter results, with its earnings per share skyrocketing 44% in comparison to the corresponding quarter the year before.
The Euro Stoxx 50 added 0.12%. Meanwhile, London's FTSE 100, Frankfurt's DAX, and the CAC 40 were flat at 8:01 am CET.
At 7:55 am CET, the euro rose 0.15% against the greenback, trading at $1.12530.
Baha Breaking News (BBN) / AB
Sorry the cross ramping will be only this one post.
You may know HUM already. H2 results due on 25th July, with plenty of updates coming.
IMO, HUM has much more sp appreciation potential than CEY.
Hurry up...
Centamin the company is run just like any other pyramid scheme on bulls9hit and broken promises !
Cowichan, I don’t think the 50% profit split plus extra 2.5% royalty is that bad, many miners pay that much in tax, and often those taxes rise and rise
The SP has risen last 12months - but they would have lost out big down in previous years- and should be clobbered for it, but there is zero incentive, they get their salaries no matter what and along with 3 rd party contractors- this is where all the share money poor long terms investors has gone to.
They don’t care- as all the directors get huge salaries and bonuses so do very well indeed- as I’ve been saying for years , about one they got paid on SP ONLY- at the VERY LEAST it should be their salary minus or plus the SP % change in previous year.
Now there's a thing Cowichan!
Now what's EMRA actually contributing into the development of these mines, let me guess sweet F*** all!
Our CEO, Investor Revelations or FTI shook a leg in order to try and invigorate this share price!
Possibly they are all content with their lot, don't care a fig will sit on their hands whilst it drops own the lavatory into the penny share section!
Gold down a tad today, but a good kick in the crotch for the Cey share price so its once again dragging its ar(se along on the bottom of the sea of hopelessness!
July 17, 2023
EGYPTMINING
Arab Finance: The Egyptian Ministry of Petroleum and Mineral Resources will sign seven contracts with Centamin and Barrick Gold this week for the commercial exploitation of gold discoveries, Asharq Business reported on July 16th, citing unnamed sources with the matter.
The deals will allow the government to obtain 50% of the net profit achieved from the commercial operation of the gold mine when it is operational, according to one of the sources.
https://www.zawya.com/en/projects/mining/egypt-to-pen-gold-exploration-contracts-with-centamin-barrick-gold-within-days-g2on7gu5
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As we know, the NEW terms are supposed to be a more attractive tax & royalty scheme - reverting to a 50% profit split would be back to the old terms
A interesting concept because the Sukari project may be regarded as already 50% privatised or 50% nationalised, Centamin being the private party and EMRS being the Eygptian governments representative, if everyone recalls this was what the court case was all about and why it went on for so long!
Whatever though, my overriding concern is that the share price remains on it's ar(se because neither of the two joint parters behaved honourably or with due diligence, that being Centamin carried out bad mining practice for over decade which the Jersey BOD and EMRA both went along with because all they were concerned about was getting as much profit as possible in the shortest possible time without out a care for the shareholders, or the long term consequences!
In short this seems like the perfect partnership between a pair of "Shysters"!
I do hope that Centamin and their new PR company FTI read this!
If you really want to look at Egypt basics- see here:
https://tradingeconomics.com/egypt/foreign-direct-investment#:~:text=Foreign%20Direct%20Investment%20in%20Egypt%20averaged%202947.09%20USD%20Million%20from,the%20second%20quarter%20of%202002.
Here is the details on the link below
The Madbouly cabinet’s big privatization presser did not disappoint. The government has already signed agreements worth USD 1.9 bn to sell state-owned assets, Prime Minister Moustafa Madbouly said at the press conference.
The state has sold stakes in three oil and petrochemicals firms, its hotels holding company, and Ezz Dekheila Steel. Named buyers include Abu Dhabi sovereign wealth fund ADQ and Talaat Moustafa Group subsidiary Icon Investments. We have the full rundown — including details of further transactions in the pipeline — in this morning’s news well, below.
https://shorturl.at/mqPR5
Egypt have far more things to worry about than risk nationalising a cash cow where others take all the risk and encourages other companies outside Egypt to invest in Egypt. Never going to happen and pointless wasting time thinking about it- time should be spent on economic indicators that move the SP and not wild speculation
Enterprize news Egypt
Among the news of more privatiseations, Centamin and Barrick to Ink contracts for exploration awards.
Nothing mentioned about any sign of Nationalisation nor any sign ,just the opposite.
Major European markets traded lower on Monday during the premarket session. Market participants are bracing for a week of data and earnings reports. Among the most important, the bloc will receive the last inflation report for the month of June.
The DAX lost 0.25% at 7:38 am CET, while the CAC 40 fell 0.31%, and the FTSE 100 declined 0.25%. The pan-European Euro Stoxx 50 inched down 0.41%.
On the currency front, the euro and the British pound were flat against the dollar at 7:40 am CET, selling for $1.12244 and $1.30876, respectively.
Baha Breaking News (BBN) / JG
Happy Monday y’al
It would be amazingly stupid and unjustifiable whilst there is a cost of living crisis!
don't build your hopes up, because by 2025 the tories will have their ars(es kicked down the road, brilliant , and the new government will not be able to afford to make such a change if it wants to prioritise social care, nhs,public services and housing to spend money on.
tories wont be elected again for at least three terms of parliament , if ever, this lot have ****ed their goose with their arrogance, lies and personal greed which has decimated and destroyed so many facets of our society and this with the disastrous brexit now apparent they have made themselves are unelectable for a very long time!
cabinet members are already starting to step down to return to the the back benches so that they can start running the two year clock down before they can take up posts in the private sector they only care about themselves and they know their time is up!
Would be amazing!
Monday, 10 July 2023
Food and beverage prices — the largest component of the basket of goods and services used to calculate inflation — accelerated to a record high of 65.9% y-o-y in June from 60.0% the month before.
The higher-than-expected surge was “driven mainly by the high demand for core items in the food sector during Eid season,” Bedeir told Enterprise yesterday. This was also due to “an unfavorable base effect coupled with the current underlying inflation pressures arising from the previous FX movements and the supply shortage in important commodities driven by the FX liquidity crisis,” she added.
Core inflation also moved higher: Core inflation — which strips out volatile items such as food and fuel — accelerated to 41.0% in June from 40.3% the month before, according to central bank figures
https://enterprise.news/news/story?storyId=869177c8-d101-4ffe-8c4e-f1c09a8c20bc
------------------------------>>>>
The question is - how will Egypt get its hands on more US dollars? Their greatest sources are the canal revenue, oil & gas exports and potentially, some day, gold exports. IMO nationalization of gold reserves could be a real option.
I really hope this happens! Tories May well remove it by 2025- here’s hoping!
Hi,
Yes horrible selfish, why did people keep voting for this type of person, all too often people never look into the personalities of their MP candidates, or even where they live, they just vote for a party, which is a great pity!
What we need id proportional representation , the main parties hate the idea , but its the only way to get much fairer representation in parliament and break up the old boys club!
https://www.electoral-reform.org.uk/
Also when writing to your MP it's useful to do so through this website -
https://www.writetothem.com/
Nadine Dorries is facing growing calls for a formal investigation over claims she sent a “forceful” message to the UK’s top civil servant pushing to be added to Liz Truss’s resignation honours list
https://www.independent.co.uk/news/uk/politics/nadine-dorries-liz-truss-boris-honours-b2374534.html.
My local MP. Never once resided here. Never replied to any emails over the last god knows how many years. Glad she’s got time however to write books write columns and appear in fatuous reality shows
France is latest country that wants in on BRICS. The BRICS alliance is gaining serious traction and the upcoming meeting in South Africa this summer will discuss the next phase, global expansion. Will France join China's powerful alliance? Which other countries are interesting in joining? Let's break down the latest news about BRICS
https://www.youtube.com/watch?v=eK3KQ26ZiOo