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Thanks Tornado, yes it seems that way, I suppose tomorrow it will fall 2p and proberly a little more,it normally does! Thanks for posting always interesting to hear your views. A.T.B.
It is starting to look like a hospital pass to hold for divi which is around 2p. Traders are probably backing off to wait for the sub 100p range. The miners mini rally stalled yesterday. The descending channel is probably already 104.5p and the bottom has crept a bit lower as well.
Well there does not seem any interest in the dividend this time round. Last day I believe to qualify. G.L.A.
Major European stocks recorded losses ahead of Wednesday's session as investors focused on the upcoming batch of economic data that is expected to mark the day. French GDP and inflation figures will kick off the day, followed by unemployment and CPI data from Germany.
The CAC 40 fell by 0.52% at 7:12 am CET, while the DAX lost 0.46%. The FTSE 100 declined by 0.37%, and the Euro Stoxx 50 slid 0.54%.
The euro dropped 0.34% against the dollar to sell for 1.06981 at 7:21 am CET and land at its lowest level since late March, while the pound slipped 0.16% to $1.23936.
Baha Breaking News (BBN) / ND
Happy hump yโal
This may have to do with mining 17 million tonnes of Tantalum which gives high melting point steels that are best utilised in missile as well as fighter aircraft manufacture. The UK defence ministry would be keen. Centamin would be very useful as a partner in the project. So yes it could be highly relevant to Centamin if they have ambitions in being more than a gold miner in Egypt.
Https://www.linkedin.com/posts/bebaegypt_beyond-cop27-unleashing-opportunities-activity-7069256970767147008-43BR
British Egyptian Business Association (BEBA)
BEBA Egyptโs ๐๐๐๐ญ๐จ๐ซ๐๐ฅ ๐๐ฎ๐ฌ๐ข๐ง๐๐ฌ๐ฌ ๐๐ข๐ฌ๐ฌ๐ข๐จ๐ง ๐ญ๐จ ๐ญ๐ก๐ ๐๐
June14-16, 2023 offers opportunities to network with Egyptian Ministers, Officials as well as #UKbusinessleaders, to discuss #investmentopportunites.
๐๐๐ฃ๐จ๐ซ ๐๐จ๐ฉ๐ข๐๐ฌ ๐๐จ๐ซ ๐๐ข๐ฌ๐๐ฎ๐ฌ๐ฌ๐ข๐จ๐ง ๐๐ฎ๐ซ๐ข๐ง๐ ๐ญ๐ก๐ ๐ฌ๐๐๐ญ๐จ๐ซ๐๐ฅ ๐๐ฎ๐ง๐ ๐ฆ๐ข๐ฌ๐ฌ๐ข๐จ๐ง ๐ข๐ง๐๐ฅ๐ฎ๐๐:
- ๐๐ง๐ง๐จ๐ฏ๐๐ญ๐ข๐ฏ๐ ๐
๐ข๐ง๐๐ง๐๐ข๐ง๐ ๐๐จ๐ซ ๐ญ๐ก๐ ๐๐ซ๐๐๐ง ๐๐๐จ๐ง๐จ๐ฆ๐ฒ
- ๐๐๐๐๐ซ๐๐จ๐ง๐ข๐ฌ๐๐ญ๐ข๐จ๐ง
- ๐๐ฒ๐๐ซ๐จ๐ ๐๐ง ๐๐ซ๐๐ฃ๐๐๐ญ๐จ๐ซ๐ข๐๐ฌ
- ๐๐ข๐ง๐ข๐ง๐ & ๐๐ฑ๐ฉ๐ฅ๐จ๐ซ๐ข๐ง๐ ๐๐ก๐ ๐๐ ๐ฒ๐ฉ๐ญ๐ข๐๐ง ๐๐ฎ๐๐ข๐๐ง ๐๐๐ฌ๐จ๐ฎ๐ซ๐๐๐ฌ
- ๐
๐ข๐ง๐๐ง๐๐ข๐ง๐ ๐ข๐ง ๐๐๐๐๐ซ๐๐จ๐ง๐ข๐ฌ๐๐ญ๐ข๐จ๐ง
___________________________________________________
๐๐๐๐ ๐๐จ๐ซ๐ about Beyond Cop27: Unleashing Opportunities
https://beba.org.eg/events/business-mission-to-the-uk-2023-broadening-horizons-boosting-trade-and-fdi-linkages/
๐ท๐๐๐๐๐๐๐ ๐บ๐๐๐๐๐๐๐: bp, Centamin PLC, GV Developments
๐ฎ๐๐๐
๐บ๐๐๐๐๐๐๐ฌ: CIB Egypt and Neptune Energy
๐บ๐๐๐๐๐ ๐บ๐๐๐๐๐๐: Capricorn Energy PLC
๐ช๐๐๐๐๐๐๐๐๐๐๐๐ ๐ท๐๐๐๐๐๐: Egypt Oil & Gas
๐ฒ๐๐๐๐๐๐
๐๐ ๐ท๐๐๐๐๐๐: N Gage Consulting
------------------------------------>>>>
So, what is this sponsorship money for exactly? Thanks for asking
Basically EMRA Minister El Molla , Egypt Finance Minister Mohamed Maait, Egypt GAFI President Hossam Heiba & Deputy Governor Bank of Egypt Ramin Naga & others all fly to London on Centamin's penny ( I mean Centamin shareholder's pennies of which there are fewer and fewer these days) and schmooze up support at fancy hotels and bars.
The objective of the mission, is to promote investment opportunities, discuss incentives to attract FDI in Egypt across the following sectors; hydrogen, decarbonization, green economy/bonds, mining and financial services. During the mission, you will be able to explore potential international business opportunities through panel discussions, B2B, B2G, networking, dinners etcโฆ
https://beba.org.eg/events/business-mission-to-the-uk-2023-broadening-horizons-boosting-trade-and-fdi-linkages/
Shareholder money well spent? You decide.
Now have a gap with USA market so we might get a retreat this afternoon to close gold chart gap.
Leo Lithium's share price has risen 55% to AUD$0.745 since the year end, which with CAPD owning 10.35m shares in Leo is good news for this half year if maintained.
They've just announced "excellent" drilling results from their Goulamina Lithium Project, and CAPD are namechecked in the announcement as the driller, with drilling continuing:
Https://cdn-api.markitdigital.com/apiman-gateway/ASX/asx-research/1.0/file/2924-02668908-6A1151351?access_token=83ff96335c2d45a094df02a206a39ff4
More from Leo Lithium - they've raised A$106m from China's largest lithium producer at a 6.5% premium to their share price at the time:
Https://cdn-api.markitdigital.com/apiman-gateway/ASX/asx-research/1.0/file/2924-02670299-6A1151864?access_token=83ff96335c2d45a094df02a206a39ff4
Leo's share price has rocketed up to A$0.935, so CAPD's 10.35m shares in LLL alone are now worth ยฃ5.1m and have almost doubled since the year end.
Astro and other readers,
Gold GDX and other ETFs are marginally positive thus far. The pull back on Centamin is suggesting a much lower gold price Currently hugging the bottom of a descending channel. The chances of a small rally are 5 times greater than breaking the down channel daily closing line on what would then be capitulation selling. Centamin has enjoyed a gold price sale well above 1900 all year. I can think of other miners and stocks in general that deserve capitulation, but it looks overdone on CEY at this time. I believe sub 98p may well appear later in June, but gold when gold is much lower than $1960 an ounce.
Usa market having a good time I think gold paying it price. if break 99 will drop a bit more.
Down channel top around 105p and bottom is currently 99p. Likely to test the upper side of the descending channel and needs time if it is to eventually break 99p.
Perhaps to 105p area over coming days.
Equities in Europe traded mixed in the premarket session on Monday as investors awaited the vote on the debt ceiling deal that United States President Joe Biden and House Speaker Kevin McCarthy struck over the weekend, while also gauging the economic impact of its provisions. On the data front, Switzerland is expected to reveal its gross domestic product for the first quarter of 2023, while Spain will post May inflation figures.
The DAX and London's FTSE 100 traded flat at 7:44 am CET, while CAC 40 dropped 0.52%. At the same time, the pan-European Euro Stoxx 50 fell 0.08%.
The euro decreased 0.23% against the dollar at 7:55 am CET to go for 1.06832, while the pound traded 0.20% lower than the greenback to change hands for 1.23294 concurrently.
Baha Breaking News (BBN) / MX
So lets s call it a day . somebody on the back foot in my book . Dasut maybe out of your depth this time, but many good posts,
Thank you Sotolo,
Whilst there is hardly anything worth talking about regarding Centamin then why not pass the time discussing other topics whilst waiting t to see if the promised turnaround will ever materialise.
I agree on the need to get the authenticity of the claims made in this broadcast authenticated which is why I intend bringing it to the attention of our political representatives and a fact chocking organisation.
And not an investor
Who provided the figures he used. A boiler house contract maybe.
Sawaris END mining were mentioned , " Running rings around Centamin".
With its President refusing to face charges of fraud in African countries including bribery .of government officials tells the quality of its President ,and company.
Another mentioned often is Bristow, Barrick gold.
Take your pick .
They are the favorites of that person who provokes .
Strange .And furthermore insults investors in this company.
A thouroughly detestable person, arn ยทt you ,not that you care as long as you get paid your pittance. :-)
Dasut unfortunately you will not be allowed to call it a day,I tried that.
At the end of the day a Contract was agreed and signed,
With time in mind.
It cannot be changed without default ,so the wholl discussion is pointless .
The cost will more than likely be covered by selling the product at a higher price and increased production..
I am sure we will all read some more blurb.
Not long back we were told that the mine had not the resources .
Really ?
If not ,I will be surprised
Cowichan sorry I can't agree with your numbers so as I said before lets call it a day and agree to differ.
Now DASUT will say:
'actually, after I've had a look at the numbers , they are in fact reasonable...'
Well of course they are. Despite DASUT saying in his post just before he was going to 'shout from the soap box' if $100 million was legit.
DASUT
Financial auditing is done once a year by the outside auditors - not monthly or quarterly as you imagine.
Regardless, auditors won't question how much profit Centamin cares to pay a contractor, now would they??
I'm working off numbers I've been given and I'll do the math real simple for you to follow.
Capital works on a 'cost plus' method, which means.
$200 million 'cost' to Capital
+
$100 million 'profit' to Capital
=
$300 million Centamin eventually pays to Capital over 4 years
That's the upper end of the original $235 to $259 million estimate plus 16% inflation ($259,000,000 x 16%= 41,440,000 = $300 million)
And that's a MIMIMUM estimate for Capital's PROFIT as there is NO hard 'cap' in the contract. It is all subject to negotiation as you've read for yourself (if indeed you bothered to read it)
Anyways people are tired of our bickering clogging up their chat board and most don't seem to care what amount of hyper profit Centamin pays a contractor - yourself included.
Whoever Dr David Martin is, was and whatever his motives, he was an Invited guest /speaker at the recent 'European Parliament International Covid Summit' - I didn't get an invite. :)
Thanks Cowichan but you still don't provide an answer to my question, more deflections. Where does the $100 million plus come from? If we can agree this number I will be shouting as loud as you from my soap box but I can't get close to this number being over what it would cost Centamin to do the work themselves.
Simple maths say $235 million divided by 120 million = $1.96 and $260 million divided by 120m = 2.17 per tonne BUT this is for two contracts. A 4 year waste movement and a drill and blast 15 month extension.
The Capital $21million capitalised in 1st qtr and 10.9 million tonnes moved is $1.92 this gets closer to the cost per tonne of the lower number if maybe we extract albeit a guesstimate the cost of the drill and blast contract.
OK there is a couple of maybe's that the capitalisation might not refer to the same period.
So do we trust the Centamin accounting practices given it is for a three month period and several weeks after the period ended, I would hope that they will have had enough time to provide accurate numbers for something you agree in fact advise is calculated monthly and I would think auditors will have a say in the numbers provided.
Major European markets are set to open mostly higher on Monday following news that the US finally reached a deal to raise its debt ceiling. Yesterday different local media said that United States President Joe Biden and House Speaker Kevin McCarthy reached the highly expected agreement.
Elsewhere, this week investors will receive data on consumer confidence, import prices, and CPI in several countries in the area.
At 8:02 am CET, the DAX was flat, while the CAC 40 added 0.07%, and the pan-European Euro Stoxx 50 inched up 0.18%. The FTSE was closed due to a market holiday.
The euro improved by 0.11% against the dollar at 7:59 am CET, selling for $1.07371. In comparison, the pound was flat to go for $1.23553 simultaneously.
Baha Breaking News (BBN) / JG
Happy Bank holiday yโal
Well said. Agree 100%
Cost control/management makes or breaks a project. Switching out dump truck bed liners and recycling mill crushing materials, etc. to save a few % is the name of the game and should be applauded as the cumulative effect of shaving costs here and there add up
So a 30% plus profit margin given away to a contractor for a straight forward waste moving project simply makes no sense & negates the whole effort to find such efficiencies - blowing years of profits made up until 2021