Centamin PLC Share Chat (CEY)

So guys after waiting months for September 15th to pass we are now clear and as Centamins ceo stated in the last update that he was excited to be able to inform shareholders of the results of the new mine licensing round, all we have to do is Hold! (and wait)

Gla

Historically September to December has been good for gold.
Hopefully this year will be the same.
Earnings season for non gold stocks is going to be miserable reading if you're a dividend investor.
Spot64

Thanks for the film link Cowichan. I never realised the full extent of a large mine and it's ancilliary workings even before they start digging the stuff out. A real eye opener for a layman such as myself! Take my hat off to the guys who can pull it all together and keep it going.

Prof, thanks for sharing much appreciated, gold now only 4% off its August high in sterling. However that should make Cey 10% below its Aug high or around 210, so it is a bit high as you point out, but maybe that is because the majority expect gold to break upwards. I now have £25k of dividend to reinvest or not. Depends really which way you think gold will break out of this range and when?

Gold moving up razor

European shares traded lower in the premarket on Wednesday as concerns regarding the latest spikes in COVID-19 infections continue to grow. France reported a rise in the number of daily registered cases as global figures near a total of 30 million contractions. Meanwhile, Microsoft co-founder Bill Gates predicted the world would not return to its pre-pandemic state before 2022. The traders will also keep an eye on the August report on consumer prices, producer prices, and retail sales in the United Kingdom, and the trade balance in the Eurozone.

The DAX stood flat at 7:33 am CET, while at the same time, the FTSE 100 dropped by 0.43%. The CAC 40 declined by 0.12% at 7:32 am CET.

The euro stood flat against the dollar to sell for $1.18503 at 7:27 am CET. On the other hand, the pound sterling gained 0.08% against the greenback to exchange hands for $1.28989 at 7:28 am CET.

Breaking the News / JR

Sold 65k shares yesterday in CEY. No loss of faith in the story just feeling share price (got out just below 220) has risen rather well relative to gold this week. Am presuming that the dividend being reinvested is playing a part. Will reinvest on any pull back in SP.

Some Recent Cote D'Ivoire Mine Site Tours/Flyovers - Interesting To See The Scale And Layout Of What An Open Pit Operation Will Look Like For Centamin...

https://www.youtube.com/watch?time_continue=177&v=326ORbF-k2E&feature=emb_logo

https://www.youtube.com/watch?v=LfM6dQOPTl4

There is a talk fest of the mighty Global Investment Community in Oz, ... the Sohn Hearts & Minds conference, ...some interesting views from some of the leading investors ....on GOLD

Dalio's big picture view of the world has led him to conclude investors should be cautious, particularly when it comes to accepted wisdom about the performance of reserve currencies.

During a panel discussion between Marks and Dalio, which was moderated by Magellan Financial Group chairman, Hamish Douglass, Dalio launched a staunch defence of investment in gold as part of a diversified investment portfolio.

"I think you have to view gold as an alternative to cash," he said. Marks said gold failed his investment criteria because it did not produce cash flow.

But Dalio countered that in many countries cash does not earn a return and in several countries such as Germany and Japan the yield on government bonds is negative.

He said central banks were increasingly buying gold as an alternative to currencies.

"I think it (gold) works on the diversification and works on the relative basis. I'm not saying go crazy. But if you look at the efficient frontier, you say, what is my least risk portfolio."

Dalio says you can overlay gold on top of an existing portfolio or buy gold and displace other assets in the portfolio. He warned investors against sticking with the traditional portfolio of 60 per cent equities and 40 per cent cash and fixed interest.

He said this was a dangerous portfolio without adequate diversification. Douglass said he had long aligned his position with Marks and questioned the intrinsic value of gold because it has no cash flow.

But he said he would be asking his investment team to look at gold as an alternative to US dollar cash reserves managed by Magellan.

"I haven't reached a conclusion but I think it is a reserve currency sitting there," Douglass said.

So the counter to Douglass and Marks, is that CEY is an invesment in gold that produces cash, A very nice fit in my portfolio, I am going share and send them a small note...

On the virus, some of the science is coming to the fore and the fire
For every Australian who tested positive for COVID-19 during the first wave, up to six positives possibly went undetected, according to a new study from the Australian National University.

Before the second wave, 11,000 Australians tested positive via swab tests but the study suggests the true number was closer to 71,500. At the most conservative estimate, it says the number would have been 30,000.

So if this is true the fatality rate is far lower than advertised hysterically in the media.

nice price action on CEY, its a great investment, gtting better by the day.
the Gnome

Barclays finally paid after the close today. Their conversion rate is 1.288 while Cey itself converted at 1.3144, for those with brokers who chose sterling, so this time Barclays customers get 2% more sterling. However the Cey share prices has risen about 3% or 3.5% since Friday, dividend day. So I am stupidly hoping Cey will be 215 tomorrow so Barclays hasn’t cost me anything but usually it does as there is always raised demand for shares after divi received and reinvested. Maybe choose Hoc or Fres, but cey’s dividend is so amazing.

Still no Dividend from Best invest. I bet they hold the money for a few days.

Thanks Cowichan,
It would be good to hear of an expansion on a large scale at Sukari with increased mine life to 50 years.
Not that I will be around by then.

Perhaps we'll hear something about the bid round winners at this event...

Join us for a live webinar with HE Eng. Tarek El Molla, Egypt’s Minister of Petroleum & Mineral Resources to hear the latest updates & market developments in the Egyptian oil & gas & mining industry.
Limited free seats available.
Visit https://bit.ly/3kiSlu2 to register today.

https://twitter.com/egypsofficial/status/1305508582125961216

and from their website...

With bilateral trade objectives, the Minister will explain the importance of strong regional and international relationships including recent industry agreements, bolstering cooperation and foreign investment.

Finally, aligned with President HE Abdel Fattah El Sisi and Egypt’s Vision 2030, we take a look at Egypt’s mining and minerals wealth and upcoming plans for sector development, following the introduction of recent new laws approved by the House of Representatives and set to attract foreign investments, benefit local industrial manufacturing and job creation.

https://www.egyps.com/egypts-oil-and-gas-insights-webinar/?utm_source=SM&utm_medium=MOP&utm_campaign=Webinar&utm_content=&utm_term=CN=Webinar/SN=SM

Their Abacus is broken,again !

As usual still no dividend from Barclays, if anyone gets one from them please do post

Today is the last day for applications (or was it yesterday) either way after today I expect licensing news will flow.

Added:

“The German DAX was flat at 7:33 am CET, while the FTSE 100 was up 0.13% and the CAC was flat at the same time. The euro increased 0.24% against the dollar, going for $1.18949 at 7:39 am CET, while pound sterling increased 0.10% compared to the greenback to change hands for $1.2604 at 7:40 am CET.“

European stocks were mostly flat in premarket trading on Tuesday after the internal market bill passed the first vote in the House of Commons despite the strong opposition from the European Union and Irish officials. The British government insisted that the purpose of the bill is to clarify the clauses concerning Northern Ireland in the withdrawal agreement with the EU.

In economic news, Domino's Pizza Inc. said that it plans to create 5,000 new jobs in the UK to support the government's work placement scheme with 1,000 openings for young workers.

The German DAX was flat at 7:33 am CET, while the FTSE 100 was up 0.13% and the CAC was flat at the same time.

Breaking the News / AM

The safe haven continues with Spot now Usd1965 & Comex USD1975, moving up towards the USD2000 level again.
Would be lovely for a new contract win or even the exploration to turn to fruit at current levels -fingers crossed.

Dividend received this morning into my Investors Edge account.

https://www.albawabhnews.com/4136314

Some companies applied and others could apply just before the end.
Reading this article, did anyone know about this (15% EMRA free participation)? And the more percentage you give to EMRA , the higher your chance to win?
I knew about it a while ago, but was surprised it was not discussed here before.. By the way it's true, not media rumours as I have seen the documents and it was published on EMRA's website.

Cowichan, Bogosu was pretty much the first new mine to open after the second coming of President Rawlings and all of the strife in Ghana relating to drought, starvation, coup after coup during the 1980's and they had major issues because they basically chose the wrong process and had a complicated ore body. Initially the roaster didn't work and for a good number of years they were working and controlled by the receivers and the banks.
The BIOX Plant was their saviour plus some very good guys who pulled the mine up by it's boot straps one being a first class and metallurgist , who had gained considerable experience working initially in Australia and then in Ghana with other mines including Ashanti before joining Bogosu.
I visited the mine many times and many fond memories.
Will they sell their BIOX I wouldn't be surprised as Wassa and Prestea use carbon in leach so who knows it might be adding up?

Not in Best Invest yet.

Thanks Cowichan ,interesting.
Something is quietly brewing , too many options to guess ,but I don't think it will be too long before we get a hint.
One person at Centamin has a habit of leaking to the press ,unless he has been censored for past gaffs.

That *could* be planning a reopening or *could* be selling their large decommissioned BIOX refractory ore processing plant to a third party (like Centamin)

It wouldn't be the first time Centamin purchased a second hand processing plant... of course the BIOX plant would only be a small part of the total complex ...

About Bogoso-Prestea
The Bogoso-Prestea operations are located in south-western Ghana, approximately 40km from the Wassa gold mine. Recently, production was delivered from the Bogoso-Prestea open pits and the Prestea underground gold mine. In the second half of 2018, Prestea became an underground-focused operation and the open pit operations are now drawing to a close. The Bogoso refractory open pit operation was closed in 2015; it hosts 1.76 million ounces of measured and indicated mineral resources and 0.07 million ounces of inferred resource and could be restarted following a refurbishment of the refractory processing plant.

read the rest here: http://www.gsr.com/investors/news/news-details/2020/Golden-Star-Announces-a-Binding-Agreement-for-the-Sale-of-the-Bogoso-Prestea-Gold-Mine-for-a-Purchase-Price-of-up-to-95-million/default.aspx

Also, you can read about the BIOX refractory ore process itself here - the article includes a list of mines that are using or had once used the BIOX process
https://www.mining.com/sponsored-content/treatment-of-refractory-gold-more-sustainable-gold-ounces-with-metso-outotecs-new-mesotherm-biox-process/