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Steve have you heard about all the greedflation by SP500 companies. They have been pumping up prices all over the place especially staple foods, pepsi cola, consumable durables and the like. Companies have been bragging about it in financial reports and then doing share buy backs with some of the money.
Alas appears short lived... we really need a decent CPI print next time along with other supporting data like Jobless Claims up, NFP down and so on. This has been taking way to long- sticky inflation is the problem- as many long term posters will know, I thought that inflation would top and drop quicker, when in fact it did to pa bit later, then drop a bit, but not quick enough. An acceleration will made a big difference here- so here's hoping :-).
The prices of gold and silver rose on Friday after Federal Reserve Bank of Atlanta President Raphael Bostic shared he would not be supporting further interest rate increases in 2023.
Bostic previously stressed that the economy should be given time to adjust to the tighter monetary policy before more firming takes place. The comments seem to have given traders some hope that there is a chance the Fed might skip hiking rates at its next meeting despite Chair Jerome Powell's remarks.
Gold advanced 1.12%, to go for $1,935.44 per ounce at 9:31 am ET. Silver increased 1.17%, selling at $22.52 per ounce at the same time. Meanwhile, platinum was flat, standing at $925.06 per ounce at 9:32 am ET. Palladium traded 0.73% lower, to go for $1,279.05 per ounce concurrently.
Baha Breaking News (BBN) / AY
INFLATION!!!
Trading numbers are low.Fewer people buying shares ,especially gold mining shares until the gold prices stabilises ,but buyers of gold buying in the dips. in the dips. Summer is noted as being a quiet time for gold and Poells utterencies do not help. But really not much has changed.
January 23, 2023
GP = 1930
SP = 116
June 23, 2023
GP = 1926
SP = 91
???????????????????????????????????????????????????????????????????????????????????????????????
The good thing is that Centamin earns in USD and pays its workforce and local suppliers in EGP. This goes a long way to lessen the effect of Egyptian inflation I believe.
Thanks. Price of gold is the major determinent for Centamin share price. I have recently bought some Barrick Gold as I can now buy US and Canadian shares with my Barclays account. Egyptian inflation is high and presumably this will affect Centamin 's wage costs. I think I may tend to buy more US and Canadian shares as I am not optimistic about UK economy post Brexit and with a probable labour Government in the fairly near future. I might consider further property investment next year if buy to let property becomes much cheaper. My main financial concern are future care cost in old age for my self and my wife ! Cost at the start and the end of life are very expensive !!!
Nice to see you a bit more positive about Centamin now Mr T. I'm hoping from here that gold and the share price will start to climb a bit. With the recent drop in price, at least we will be getting a few more shares with the reinvested dividend (I think it should be paid today?) .
I suppose gold mining is very difficult to predict as you never know how much gold is actually in the ground in an area until you mine it.
If the price of gold holds or rises, then things might start to look a bit better in the coming months. With the waste clearance having opened things up a bit and then getting an updated estimation of when the waste clearance will be finishing, that should give us a boost. I think once we get a date for that the market will like it. That should bring down costs by a lot and boost profit. Along with the solar and the grid connection that should really help.
A bit of good news about the court case and the other parcels of land would also help.
A decent increase in the dividend would make me happier as with the recent rise in interest rates, you can now get a similar return from a building society as the dividend here, without the risk.
Its funny isn't it? That on the boards you always get the rampers, de rampers, gob sh-tes, know it alls and rude people who dismiss everyone else. This board can get a bit like that at times but the core of people is generally gentlemanly on here.
Have a good weekend Mr T.
Maybe wishful thinking Terry,
This share in many respects, not least of all because of the inappropriate mining methods being employed by self serving senior management resulting in a near catastrophe at Sukari has been knocked down to the very bottom of the bargain bucket.
But that said Sukari is still capable, and is still producing very respectable gold output the profits on which will improve once the high AISC brought about by the re sculpting of the mine start to fall ff significantly in 2024.
So there is great potential here despite what happens in the short term to the POG due to the market knee jerk reaction of interest rates reaching levels they should have been decades ago had our politicians not carried on kicking the can of the reality of failed political politicises of underinvestment in environmental infrastructure . NHS and other public services , not to forget ever rising personal debt down the road for far too long.
Far too much short term trading in the stock markets rather than real investment for the long term sustainability is one of the main reasons the world is n the sorry state it is !
European stock markets were lower ahead of the trading session on Friday. Private sector activity data for Germany, the Eurozone and the United Kingdom are due soon after the exchanges open.
The DAX fell by 0.76%, London's FTSE 100 moved 0.35% down, the CAC 40 declined 0.69% and the EURO STOXX 50 lost 0.64% at 7:20 am CET.
The euro was 0.23% lower compared to the dollar, changing hands for 1.09304 and the British pound decreased 0.30% to $1.27536 at 7:34 am CET.
Baha Breaking News (BBN) / MS
Happy Friday y’al
Enjoy your weekend.
*Dividend payment day.
I seem to recall in the past directors part of the T&C on on the awarding of bonus shareS to directors was that they held them for a minimum term of two years.
Centamin PLC
June 5, 2023·5 min read
Centamin PLC
In this article:
CEY.L
Watchlist
CELTF
DIRECTOR/PDMR SHAREHOLDING
PERTH, AUSTRALIA / ACCESSWIRE / June 5, 2023 / Centamin plc ("Centamin" or "the Company") (LSE:CEY)(TSX:CEE)
Centamin announces that the 2020 share awards under the Company's shareholder approved Remuneration Policy and Performance Share Plan ("PSP") have partially (63.1%) vested.
The share awards are for ordinary shares of nil par value in the Company. As per the PSP, awards carried the right to dividend equivalents on the shares that vested.
For more details on the Company's long term incentive plans, including performance conditions of the PSP, please refer to the Remuneration Report within the 2022 Annual Report and Accounts, available on the Company's website
https://shorturl.at/gBQY8
https://shorturl.at/CLPS0
https://www.1stformations.co.uk/blog/transferring-and-issuing-company-shares/
Both Bloomberg and the other website only reprinted the rns from June 5th and nothing more.
After his share purchase on March 17th Martin Horgan’s holding was confirmed at 206,507 add to that the amount awarded on June 5th 372,290 less the amount sold ‘on the same day’ of 174,976 brings the total and current holding to 403,821
I arrive at the belief that MH opted to receive a portion of his allocation in cash by the fact that the 174,976 shares were disposed of on the day they were issued.
Not one press report exists that states ‘Martin Horgan, Centamin CEO sold shares’ but yet this board that as far as I’m concerned serves to welcome and entice new investors who show interest in the stock, keeps repeating the same nonsense that’s helping no one.
I believe the company will begin to show positive results and a recovery of the share price with it.
Same time period as Horgan selling, VanEck ETF dumped 0.7% of total cey shares, about 7 million. Coincidence?
That's the article I read.
Please share!
As I have a few bots that search the web for investment related posts I did 'energize' the issue by posting the following link - but if you know that to incorrect please enlighten us. It's not as if I am the controller of defenseworld.net
https://www.defenseworld.net/2023/06/07/centamin-plc-loncey-insider-martin-horgan-sells-174976-shares.html
Posted by Defense World Staff on Jun 7th, 2023
Centamin plc (LON:CEY – Get Rating) insider Martin Horgan sold 174,976 shares of the firm’s stock in a transaction that occurred on Monday, June 5th. The stock was sold at an average price of GBX 99 ($1.23), for a total transaction of £173,226.24 ($215,348.38).
Also,
Where did you get the info that Centamin's CEO opted for cash in lieu of shares? And did you say he then used the cash in lieu of shares to buy shares on the open market? That would be pointless, no? And perhaps implausible?
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The collapse of Silicon Valley Bank, Credit Suisse and First Republic Bank this year alone show how risky and unstable the financial system is. Running alongside physical notes and coins, a digital pound would disentangle our money and payments system from risky private banks and keep our money system - a vital public good - in safe public hands.
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https://rb.gy/sr4fd
All that rubbish about gold being best against inflation . look like never happened these last few years
we need worlds war 3 to see Gold move... (hopefully it won't happen)
I read that as technical MrTibbles.
Hi Razor's,
We did also get an RNS on this-
https://finance.yahoo.com/news/centamin-plc-announces-director-pdmr-154000341.html
https://www.bloomberg.com/press-releases/2023-06-05/centamin-plc-announces-director-pdmr-shareholding
Directors Deals for Centamin PLC (CEY)
Announced Traded Action Notifier Price Currency Amount Holding
05-Jun-23 05-Jun-23 Transfer From Ross Jerrard - - 246,090 866,090
05-Jun-23 05-Jun-23 Sell Martin Horgan 98.74 GBX 174,976 403,821
05-Jun-23 05-Jun-23 Transfer From Martin Horgan - - 372,290 403,821
23-Mar-23 22-Mar-23 Buy Ross Jerrard 100.30 GBX 52,490 620,000
23-Mar-23 21-Mar-23 Buy Ross Jerrard 100.00 GBX 510 620,000
17-Mar-23 17-Mar-23 Buy Martin Horgan 100.68 GBX 99,314 206,507
23-May-22 19-May-22 Buy Ross Jerrard 82.50 GBX 67,000 567,000
23-May-22 20-May-22 Buy Mark Bankes 83.60 GBX 30,000 319,000
23-May-22 23-May-22 Buy Martin Horgan 83.50 GBX 65,788 107,193
31-Dec-21 31-Dec-21 Notification of Holding Marna Cloete - - - 15,000
31-Dec-21 30-Dec-21 Buy Mark Bankes 87.28 GBX 29,000 289,000
29-Sep-21 29-Sep-21 Buy Mark Bankes 92.43 GBX 40,000 260,000
14-Sep-21 13-Sep-21 Buy Ross Jerrard 91.70 GBX 15,000 500,000
29-Jun-21 28-Jun-21 Transfer From Ross Jerrard - - 102,000 485,000
26-Mar-21 25-Mar-21 Buy Ibrahim Fawzy 104.86 GBX 140,000 140,000
25-Mar-21 25-Mar-21 Buy Martin Horgan 104.50 GBX 25,000 41,405
24-Mar-21 23-Mar-21 Buy Catharine Farrow 1.84 CAD 30,000 30,000
24-Mar-21 23-Mar-21 Buy Sally Eyre 1.79 CAD 15,000 15,000
23-Mar-21 23-Mar-21 Buy Mark Bankes 104.65 GBX 30,000 220,000
23-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
07-Dec-20 04-Dec-20 Buy Martin Horgan 121.84 GBX 16,405 16,405
07-Oct-20 05-Oct-20 Buy Ross Jerrard 147.88 GBX 15,000 365,000
06-Oct-20 05-Oct-20 Buy James Rutherford 151.68 GBX 100,000 100,000
11-Nov-19 08-Nov-19 Buy Marna Cloete 112.50 GBX 15,000 15,000
05-Jun-19 04-Jun-19 Transfer From Ross Jerrard - - 350,000 770,000
05-Jun-19 04-Jun-19 Transfer From Andrew Pardey - - 276,000 2,295,268
05-Jun-19 04-Jun-19 Transfer From Josef El-Raghy - - 56,000 10,710,909
14-Jun-17 13-Jun-17 Sell Josef El-Raghy 173.00 GBX 5,000,000 35,950,000
14-Jun-17 12-Jun-17 Sell Josef El-Raghy 177.00 GBX 5,350,000 35,950,000
06-Jun-17 04-Jun-17 Transfer From Andrew Pardey - - 440,000 3,132,601
06-Jun-17 04-Jun-17 Transfer From Ross Jerrard - - 420,000 420,000
06-Jun-17 05-Jun-17 Sell Andrew Pardey 168.00 GBX 33,333 3,099,268
15-May-17 09-May-17 Buy Trevor Stanley Schultz 153.90 GBX 2,600 32,600
01-Mar-17 27-Feb-17 Sell Josef El-Raghy 173.40 GBX 5,000,000 46,300,000
27-Feb-17 23-Feb-17 Sell Josef El-Raghy 179.00 GBX 4,040,000 46,300,000
23-Feb-17 20-Feb-17 Notification of Holding Josef El-Raghy - - - 53,849,372
22-Feb-17 21-Feb-17 Sell Josef El-Raghy 175.70 GBX 5,000,000 33,399,372
22-Feb-17 20-Feb-17 Sell Josef El-Raghy 178.20 GBX 5,000,000 33,399,372
10-Feb-17 09-Feb-17 Sell Josef El-Raghy 173.00 GBX 5,000,000 43,399,372
13-Jun-16 10-Jun-16 Sell Josef El-Raghy 111.00 GBX 5,000,000 53,849,372
07-Jun-16 04-Jun-16 Transfer From Andrew Pardey - - 690,000 2,692,601
07-Jun-16 04-Jun-16 Transfer From Ross Jerrar
I don’t think Martin has ever sold any Centamin shares.
I believe he took a portion of his bonus allocation in cash and then later he bought some.
I also believe that someone who is energising this issue also know the truth.
Quite so Steve,
But that said but he is hardly strapped for cash after the sale of Toro that is not allowing for his handsome CEO salary , and if he believes in his own strategy then he should demonstrate it to other share holders to invigorate trust or confidence by the market ,and of course then reap the benefits of his investment!
With peanuts for dividends you can only expect this to romp back down to support.
Does any of this really matter? All the charts and stats, bottoms, double bottoms and so on have demonstrated zero use as per normal