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WEBCAST PRESENTATION
The Company will host a webcast presentation with the interim results on Wednesday, 26 July 2023 at 08.30 BST to discuss the results and Doropo Gold Project, followed by an opportunity to ask questions.
*This is the same day that the Q2 numbers are scheduled for release.
MARTIN HORGAN, CEO, commented: "The results from the Doropo PFS demonstrate an economically robust project that meets Centamin's hurdle rates to proceed with a definitive feasibility study. A life of mine average production rate of approximately 175kozpa at US$1,000/oz AISC over 10 years delivering an IRR of 26% at a gold price of US$1,600/oz in a well-established mining jurisdiction represents an excellent outcome. We have identified opportunities to further optimise the project which will be assessed as part of the DFS which is scheduled for completion in mid-2024. A substantial part of the DFS fieldwork has already been completed in 2023 which derisks the timeline to completion and further confirms our faith in the potential of Doropo to support a commercially viable project which will bring significant investment and job creation to northeastern Côte d'Ivoire."
https://www.lse.co.uk/rns/CEY/positive-doropo-gold-project-pre-feasibility-study-z43tb54e4w3aser.html
Blimey, finally Cowichan and I the last time I posted on inflation which I've continually posted about about for soooooo long and you said I talk absolute ****- the worm has turned.
Major stock indexes in Europe traded higher in the premarket on Tuesday as investors awaited speeches from various European Central Bank policymakers, who will be participating in the ECB Forum in Sintra. On the agenda this week is also the Eurozone business climate report, alongside German consumer confidence and inflation, and the United Kingdom's gross domestic product.
The DAX gained 0.26% at 7:29 am CET, while the CAC 40 added 0.35% and the FTSE 100 rose 0.32% at the same time. The Euro Stoxx 50 increased 0.28% concurrently.
The euro was up by 0.17% against the dollar at 7:29 am CET, selling for 1.09275. The pound was 0.19% higher against the greenback and went for 1.27376 a minute later.
Baha Breaking News (BBN) / AY
Quarterly average all-in Sustaining Cost (AISC) for #gold mining rose to US$1,358/oz (+6% m/m, +10% y/y). This a new high
https://www.gold.org/goldhub/gold-focus/2023/06/evolving-picture-global-gold-production
https://twitter.com/KrishanGopaul/status/1672174973283074048
----------------------->>>
Thoughts:
When will inflation abate? How will miners pay for exploration? Are dividends safe?
IMHO , If CEY Div is not a fair performance to date ???? Its simples ?? Just get on with it and ....Move on to another stock mmm , easy. Money is to be made on LSE .
As always DYOR . I'm never married to a stock . Patience and research is key IMHO.
To all true Investores Have a good trading time ahead.
Cheers ,
Buck - enjoy a pint or two ;-))
Along with these heavy hitters:
https://www.londonindaba.com/other-indabas/the-london-indaba-2023
2023 Speakers
Robert Friedland - Founder & Executive Director & Co-Chairman, Ivanhoe Mines
Neal Froneman - CEO, Sibanye-Stillwater
Martin Horgan - CEO, Centamin
Tom Attenborough - Head of IBD, London Stock Exchange
Mark Bristow - CEO, Barrick Gold Corporation
Matthew Chamberlain CEO, London Metal Exchange
George Cheveley - Portfolio Manager, Ninety One
Martino De Ciccio Deputy CFO & Head of Investor Relations, Endeavour Mining
Martin Horgan, CEO, Centamin, will discuss his company and the Nubian Shield at the inaugural #londonindaba, 26-27 June #joburgindaba http://londonindaba.com
https://twitter.com/joburgindaba/status/1672938014077591554
---------------------------------->>>>
Thoughts:
- Ninety One has been meeting oft with Mr Horgan lately ( top 7 shareholder )
- Barrick has been rebuffed several times already this year by mids & majors alike not keen on a zero premium merger, but at Centamin's current share price, even a 25% premium would look good on paper to both parties , and maybe even some LTHs tired of the battle
Https://mausam.imd.gov.in/responsive/monsooninformation.php
The monsoon was 7 days behind rainfall patterns early on and now down to just 4 days and catching up to normal.
This should give us a tailwind in the not to distant future.
Hanna Liubakova, a Belarusian journalist and researcher, said the deal shows that "Lukashenko plays the role of Putin's puppet"!
Steve Rosenberg says Putin began yesterday by saying Russia had been “stabbed in the back” by the Wagner Group’s attempted mutiny.
By the end of the day its leader Yevgeny Prigozhin, whom Putin had labelled a traitor, had all the charges against him dropped.
“We don’t know all the details of the agreement that was reached between the Kremlin and Wagner,” he tells the BBC’s Laura Kuenssberg.
Marina Litvinenko - whose husband Alexander Litvinenko was a critic of Russia’s President Vladimir Putin, before being killed in 2006 - has said the attempted rebellion reveals Putin's weaknesses.
t shows Putin's "brutal" image is "just for frightening people", she tells the BBC's Laura Kuenssberg show.
She also warns against praising Wagner chief Yevgeny Prigozhin.
"Prigozhin is not a hero, he is a criminal, and he committed a lot of bad things in Ukraine," says Marina Litvinenko!
https://shorturl.at/dhxX4
Am back in now too
Up to 75% in.
Most European markets rose slightly in premarket trading on Monday as investors digested the attempted Wagner Group rebellion in Russia. After taking control of Russia's military headquarters in Rostov and Voronezh, Wagner leader Yevgeny Prigozhin accepted Belarusian President Alexander Lukasneko's proposal to retreat and the Kremlin said the charges against him will be dropped and that he will leave for Belarus.
The Euro Stoxx 50 added 0.09% at 7:22 am, the DAX rose 0.12%, the CAC 40 was up 0.10%, while the FTSE 100 traded flat at the same time.
The euro gained 0.11% against the dollar to go for 1.09070 at 7:31 am CET and the pound increased 0.15% compared to the greenbackbto sell for 1.27366 at the same time.
Baha Breaking News (BBN) / NP
Happy Monday y’al
*last week in Q2 + end of H1
RNS possibility this week high surely.
Mediocre dividend !
Definitely Rest of the World 1 Russia nil
Great news in my view- Putin would have not let him back off “prosecution free” if he was not totally concerned. I’ve no idea whether this Wagner group and what would have followed would have been worse than Putin, but on the face of it, don’t have to worry. Putin has completely lost face (“treason” only yesterday and today “no prosecution”). This surely will impact morale in the country and political cohesion. My view is that these recent events are good not bad, and weaken Russia’s fight and good for Ukraine. Yevgeny Prigozhin said he didn’t want to shed Russian blood which does makes sense- but Putin to back off so dramatically showed weakness. What does all this mean for gold and cey- no idea. I would have thought my markets would like Putin being weaker, but inflation etc remains the main play in town (for this second lol!)
That would be B2Gold and Barrick - one has since abandoned all talk of Egypt exploration
B2Gold's AGM report is 91 pages - not a word about Egypt...
Jun 12, 2023
https://www.b2gold.com/_resources/FINAL%20Circular.pdf
but B2Gold has decided to diversify into Canada (for the first time) and will spend $675 million US to build a mine. That's on top of the $1.2 billion they spent last year to acquire the Canadian deposit from Sabina.
NB
When B2 originally won the concession in Egypt I was excited to have a secondary way to invest in Egypt's gold scene. Today, I have no confidence in the EMRA's ability to attract new investment. On the contrary, 2 and half years have passed and the EMRA refuses to finalize exploitation terms. It's like the EMRA wants foreign investment to fail.
Thanks CEY mmm All ££ in , Another good div . paid out on friday £££.
Hope everyone is happy with their Div Payment ;-))
Yet another "Jolly" to enable group hugging and patting one another's backs!!
So what did this achieve as far as we retail shareholder's are concerned?
I don't disagree when compared to Martin Horgan & Ross Gerrard, but that said for these guys already on very nice little earners with expenses!,buying at these piffling levels doesn't show any real commitment when compared to the likes of some retail investors on here.
After over decade of broken promises, missed targets and underhand deception about the true state of Sukari I remain very suspicious of recent changes such as changing to a PR company with little experience in Egypt and track record of making a worse service or company or service appear a bearable alternative, not to mention being possibly a case of the "Old pals act" is this all part of the plan to make it easier to string us along?
Fair comments Cowichan,
One can't help but be suspicious of the lateness, possibly even unwillingness to update on Doropo.
I asked an independent and experienced mining analyst to look at the information the company has released so far and the analyst concluded that on the information available Doropo is mediocre , or "Hardley a dripping roast!".
That said the analyst did feel the information released so far in many respects it was vague and lacking any real substance, would have been good to see a detailed mining plan, but far too many companies never provide one because its not in their interests if they want to reel in the investors!
So it seems we are really still being kept in the dark, why?
Mining deal-making declines, but Beaty and others see opportunities
June 23, 2023 | 10:40 am
They say share prices are reasonable or low for their assets while commodity prices have been high
Companies on his radar include Endeavour Mining in Côte d’Ivoire, Burkina Faso and Senegal; Omai Gold in Guyana and Centamin in Egypt.
“Centamin, they were ballsy enough to go into that country and now I see that Barrick Gold is going in,” he said. “That’s what I’m looking at, companies with potential that can grow, then they will be a tidbit for some of the intermediates or the majors.”
article continues here:
https://www.mining.com/mining-deal-making-declines-but-beaty-and-others-see-opportunities/
Bottom Line: the gold deposits not already held by the majors are on sale
------------------------------->>>>
Given the above, it's reasonable to defend one's rationale for holding Centamin. It's even reasonable to get annoyed at those posting negativity on a forum dedicated to investing in a company.
However, nobody who posts only good, positive vibes here is going to compensate you as a Centamin investor if you continue to hold while the share price drops further & further.
Therefore, why not consider all aspects of a company and not just the positive? That is unless the pro-invest crowd is willing to compensate those they've lulled into a state of security when it turns out Centamin might just as easily:
1) lower or cease dividends
2) have less than anticipated growth (the Doropo project is anything but a sure bet)
3) lose money if gold drops to nearer AISC levels
The stock price at £2 then the news broke about the waste mountain causing the price to drop by 1/4 to £1.50 then James Rutherford bought his first lot of 100k no matter the price continued to decline and he then bought a second 100k at £1.20 and once again when the stock hit lower he bought another 50k
When you consider that he bought the shares in the same fashion as you and I would, through his broker with no bonus scheme involved I think his support demonstrates exactly how the chairman of a company should behave in a time of crisis and uncertainty.
I think his support was strong enough and well received as they happened in a time of crisis and uncertainty in the stock, when posters with unfamiliar names were posting crap like “Holding off — 60p soon.
Yes compared to Ross Gerard and Martin Horgan’s recent purchases. How do you think James showed excellent leadership and at exactly the right time.
-Mar-21 23-Mar-21 Buy James Rutherford 103.85 GBX 50,000 250,000
08-Dec-20 07-Dec-20 Buy James Rutherford 120.10 GBX 100,000 200,000
06-Oct-20 05-Oct-20 Buy James Rutherford 151.68 GBX 100,000 100,000
Hi Razor's
As far I can see from the directors buys list Jim has only bought 150,000, no great shakes really considering his position!
We should have Trevor Stanley Schultz as chairperson,not only has bought considerably more shares but he has a greater understanding of actual mining!
Then we have Josef who has sold over 30 million in six tranches or so usually just before some unforeseen circumstances decimated the share price!