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Miserableholgit , sorry you're losing money . Do more research and try not to listen to posters with an AGENDA to scare people off . Don't let it scare you dear .
Well done Razor , I knew it ! The way the questions were being phrased to put a negative spin on stuff . If people are asking idiotic questions it's because they have an AGENDA . Why do people get sucked in . Glad you found that Sotolo guy out . Nice play
He has been rumbled, read his post history - its all there.
Seriously making up for no Antiques Roadshow
Is it not your problem, you have lost money, for which I sympathise, but looking at your historical posts ,it is not surprising, do more research.
It would be nice to ask him.
You do not prop up.
The 45 degrees is bottom to top, no overhangs ,no danger.
And no they stated movement, which may be mms normally in buildings checked by glass strips across cracks. If the glass cracks there is further movement.
About things they can research themselves . Also why did the last poster think Mr B would know such information if he's not working at the mine . Seriously , where do these people pop up from . Fairyland ? Read the RNS , why would a stranger on a BB know anything more ? No wonder people lose money !
So if they postponed mining how long bf they start mining and what can they do about that wall to prop it up/save the wall? Did the RNS not say it was waste that was slipping? So I'm wondering how this would affect mining of the wall?
Sorry typo in 2nd line of my reply to Goldgnome, should read "however it is reassuring to see your confirmation"
Wish we had an edit facility on here!
Good point Zambianminer, if he did and it was in Egypt it must be a very big one!
So presumably a purchase that large would hit the news , keep a look out, but perhaps best not to be too disappointed!
Very fair comments Sotolo!
I feel happier that Martin Horgan is now CEO, but I still feel that Youssef is dead wood and certainly feel very uneasy about his share disposal , Youssef appears as much use to the company as chocolate teapot!
When you think about it logically, how many other gold miners would employ a former police captain as general mine manager , wouldn't they at the very least want a candidate for post that was experienced in mining in some way, had Youssef not been an El Raghy then he may have got a job on gate security, nothing more, he is a very expensive passenger despite the spiel on the website!
His share sales demonstrate that he is a taker with mo commitment other than to himself., not a contributor!
Now isn't that interesting. Ha Ha,
Good find RazorsEdge.
You are very sharp fellow.
What an interesting post by Thunder2040, he obviously senses the same air of scepticism as me.
I don’t care to indulge in time wasting.
I choose instead await the 8am bell in the morning which I believe will see the market in positive territory as the latest update on Mr Trump is very positive.
Razor sorry if you are taken aback by my scepticism and concern, however I am taken aback by the lack of clarity in the RNS. Profits could easily be halved this year as a result of this huge second half production cut (bigger than last profit warnings) but what about next year, why scare investors with no encouraging noises, but a replanning of mining, why not be clear that next year output is expected to be back. Without this knowledge a potential halving of this year’s profits easily justifies to me a reduction of half that (25%) in the share price, and obviously to others who are selling at this price. I most sincerely hope that I am utterly wrong and the share price rises back up and you are right. I would love to see your maths on how a 15% production cut and hefty cost per ounce increase only impacts profits by 15% and also your analysis of how you think the new mining plan will impact next year. I sadly just remember last time this happened, with similar lack of clarity, we went on getting bad news and the share price halved. Of course back then others on this board were equally taken back by my posts, which are not always gloomy and have been very bullish all this year till now. Incidentally I shall sit it out and haven’t sold any, buying more on further falls depending on news in later October results.
Yes Razors I agree with both you and Supercharger.
The problem stems from two distinctly different groups of investors.
Long term holders and traders.
With this being usually a relevantly stable share ,ha ha . It is very popular with day and short termers. When they get caught out ,as many have, they have to sell, or if not ,many have to sit here, for who knows how long, until they break even.
So tempers get frayed, my sympathies ,but that is the risk.
Supercharger I liked your post because I agree with all your points , a surprise announcement from the ERMA could come at anytime.
I am also quite took aback that someone would actually endorse the market as correct when they just wiped nearly a quarter off the value of the company.
What reason did Investors Chronicle give for reiterating their ‘BUY’ recommendation, oh yeah the robust price of gold and on top of Centamins working capital they have £350m in cash.
Bol and thank you for your post.
I can see perfectly well why the share price here has fallen and it is over reaction. I regret more short term day traders wish the price to go down for a cheaper re-entry point than those who with experience know the true value of this longer term Companies worth.
We know that Centamin are quoting for additional licences to open new mining ventures (whilst having some others outside of Egypt) which have not yet been utilized. The impact on the numbers is not a 22% loss, and certainly the earth movement in one section of this vast mine might actually help them expand the venture in Egypt with some govt. support for new contract wins.
Does anyone really believe the Gold price is going to fall through the floor at the moment in the World as it is and where a Gold shortage is envisaged in the future? I do not think so. Remember also that this share price will be supported by suitors who in the past 2 or 3 years have shown an interest with either a buy out or a JV with Centamin. All is certainly not lost here and it is a good time for me to consider buying some more shares next week.
I think one possible explanation that the stock price drops more than 10-15% to > 20% is there are many new investors to CEY as this year gold price goes up a lot and many forums promote CEY. So when this news broke out, ordinary investors are not aware (me too) of it so the stock price goes down. dramatically. So yes the evident is in the stock price as technical analysis always say.
I respect mrtibb and other expert comments. I will wait and see more to the update.
Question is did Youssef really buy a house. Let us see the proof?
Hi Mr Gnome,
I was pretty certain of your reaction to this latest Sukari production interruption, however it is repressuring to see your confirmation, as you say far better to have proactive and timely professional intervention.
We are indeed fortunate on this forum to have fellow members with such a wealth of wide ranging professional experience across the mining sector.
You will have no doubt read the comments by Dasut,Mr Bond & others who all make very valid points which is also very reassuring for fellow share holders.
I wonder do you have any opinion on Youssef's share sales a month before this occurrence, I wonder as Sukari GM would he have had any inkling that there was a chance of this wall collapse?
I have long felt that Youssef is not the best choice for his post and only in the job because of family connections, I thought about putting this in writing to the board, but then if he was removed he is the type (loose mouth)who could undermine the future of Cenatamin, so perhaps better to keep a lame duck in house where at least they can keep an eye on him!
Yes, the MM have certainly overdone the SP bashing!
I don't normally agree with the prophet of doom but I fear he could be right here. Just waiting for mrtibbles to give us his views on Trump and Brixit.
Razor, as I often post costs matter too. Everyone seems to concentrate on ounces mined, but profit is these ounces mined times the price of gold LESS the all important all in sustaining costs per ounce, that rise as ounces produced fall. Moreover the percentage move in costs, and the price of gold have at least twice the effect on profit as ounces mined. So a 15% cut in ounces leads as you say to 15% lost profit, but also to increased costs per ounce, assuming a similar 15% rise in costs (quite probably more) that means another 35% off profits so I expect profits to be at least halved from what they would have been, plus we mined most gold in the first half when the gold price was lower.
However for me the biggest question is not this year’s badly hit profit but next year? if we lost 70k ounces this year, but total lost ounces 90k, do we expect only 20k further lost ounces next year in which case our share price should recover, maybe to 180 at these gold prices, or will we be able to mine these then? So the worst for me is the lack of clear communication from Centamin yet again, despite the new management, and just the ominous talk of a new mining plan as a result of this. Therefore for me the share price fall so far is sadly entirely justified and was predicted as soon as I heard the news, will it now go lower till the next report in a couple of weeks, and what will that bring? Last time this happened I was quite insulted here as a prophet of doom, I was just being realistic when I suggested a fall to 80p then. This time I believe, for the reason I point out above, it is worse not better than it looks and the market is right, let’s just hope we are saved by gold soaring ($2400 should take our price back where it was) rather than gold falling further which will take our price down more. Sorry not to be cheerier but honestly I am appalled by the lack of clarity on what this might mean, to costs, next year etc etc
A good point, well made.
Had the company done nothing, the result could have been catastrophic and the SP would have been a lot lower.
Better by far to take control of the situation and protect the workforce and the future of the company.
In this moment all we can do is to wait to see what will be done with that issue of stability and wait for the next operational updates. Manville we should figure out if there is any insider buying that will be the sign to purchase much more stocks.