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Yep and gold has risen since the - so what does this tell you? It tells you exactly what I said…. Inflation and lack of deflation is hitting miners
Centamin anticipated the drop in gold and is still 1.5% below any retreat in the GDX ETF that happened today. Expecting a reasonable probability of 98p holding tomorrow unless gold does much bigger drop overnight.
In May China bought 16 tonnes more.
They already have more bullion than anyone, what does that tell you ?
We just in line with most(not all but most eg barrick, newmont etc) others past month- eg down about 15% past month. Gold down past month and costs still rising as inflation stickier than anticipated and expected deflated cost items not deflating as quickly either
And now gold/silver down... commentary pointed to US growth etc hence drop, but US today was back to hike not stall(that was yesterday lol)... Initial jobless tomorrow but of less importance now, CPI next week key.
Its on its way Tony ,across the Bay of Bengal, looks like umbrella sales will rise ;-)
The suspense is also the monsoon for India and it now delayed until Friday.
We should respond very soon! I see a no. of reasons for this. i.e. China cutting rates, suggestion USA to stall increases, and USA Tech rising causing extra demand for precious metals. Time will tell if the rally holds but looking good so far! Fingers crossed. GLA.
Added into position. About 1/6th in. Not sure of how it plays out, but now have more Centamin than HOC.
We’re not waiting for anything, just doing what is reflected in there economic indicators that drive gold up or down (outside of any expected RNS of course)
Wow really move 99 mark all day, we are waiting for something not sure what....
Major stock exchanges in Europe were mostly higher in Wednesday's premarket trade as investors awaited data on and United Kingdom house prices, as well as comments that European Central Bank officials are expected to make later in the day. Markets assessed the latest German industrial production report.
The DAX increased by 0.06%, London's FTSE 100 lost 0.10%, the CAC 40 was flat and the EURO STOXX 50 advanced 0.08% at 8:01 am CET.
The euro was down 0.07% compared to the dollar at 7:59 am CET, trading at 1.06849. The British pound was 0.06% lower than the American currency, going for 1.24170 at the same time.
Baha Breaking News (BBN) / MS
Happy hump y’al
You wonder when the rot will stop.
If we judge by Wall Street’s reaction to the debt-ceiling crisis, most investors agree with Biden that, for all the noise and theatrics that emanate from Washington, the American political system is still capable of carrying out some basic tasks that require bipartisanship, such as resisting the urge to blow up its golden goose (!!!)—the U.S. bond market. During the past few weeks, as the “X-Date” approached, the markets remained pretty calm, indicating faith that a debt default wasn’t a serious possibility (whoever thought it was??). And, on Friday, following the vote in the Senate, the Dow climbed seven hundred points. (To be sure, a strong payrolls report for May also contributed to this.)
Fitch believes that repeated political standoffs around the debt-limit and last-minute suspensions before the x-date (when the Treasury’s cash position and extraordinary measures are exhausted) lowers confidence in governance on fiscal and debt matters.”
My confindence was lowered a long long time ago, and the thing that amazes me is that there is anyone who has condfidence in a system.
Fitch is essentially arguing that the U.S. political system is suffering from slow rot. As well as pointing to the repeated episodes of brinkmanship over the debt ceiling, the ratings agency cited “increased political polarization and partisanship as witnessed by the contested 2020 election,” and how a “failure to tackle fiscal challenges from growing mandatory spending has led to rising fiscal deficits and debt burden.”
good luck to us all
best
the gnome
According to net share value ,at the moment CEY is 15 p less than true valuation , thanks to traders with whom it is out of favour.
Dosnt bother me too much, they pay even now ,a dividend. When production picks up the the price will go crazy,driven by traders.
Swings and rounabouts.
Many got burnt ,when the open pit wall problem was announced.
And probably had to sell for a loss .
Hence you get vengence posts occasionally.
But you make choices,but best ;well informed choices ,DYOR.
Astro,
It would be naive to think that the Centamin directors could have that amount of influence on the market, if that were the case then the share price wouldn't have been languishing in the bottom of the bargain bucket for three years!, think about it, we are where we are because of the price of the clear up, once that is completed 2024 and if the POG holds then the share price will rise!
Astro no manipulation as Centamin has followed the GDX ETF just about perfectly all month and that contains a lot of other miners. It will be test to see if 98p continues to hold and Centamin edges higher or whether it gives way. We should know in the next 48 hours. I remain flat with a very small position to see where it goes.
This running between 99 to 98 the last few days I wonder if sp has been manipulated by the directors to keep afloat above.
98?
The support line area is quite strong and the descending resistance channel has nearly run out of room. Like a triangle with less space between support and the resistance.
director/pdmr shareholding
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://www.centamin.com/annual-report-2022/).
director/pdmr notifications
in accordance with the requirements of article 19 of the uk market abuse regulation (regulation (eu) 596/2014, as it forms part of uk domestic law by virtue of the european union (withdrawal) act 2018), the company makes the below notification and public disclosure of transactions by persons discharging managerial responsibilities and persons closely associated with them.
all vested shares (net of tax) will be held by the directors for a further two-year period and these shares will be retained towards the company's in-employment and post-employment share ownership guidelines detailed in the 2022 remuneration report. disposals referred to in this announcement are to cover tax liabilities on the vested share awards.
this announcement contains ongoing regulated information.
for more information please visit the website www.centamin.com or contact:
centamin plc
alexandra barter-c****, head of corporate communications
investor@centaminplc.com
fti consulting
ben brewerton / sara powell / nick hennis
+442037271000
centamin@fticonsulting.com
notification and public disclosure of transactions by persons discharging managerial responsibilities and persons closely associated with them
1 details of the person discharging managerial responsibilities/person closely associated
a) name martin horgan
2 reason for the notification
a) position/status director - chief executive officer
b) initial notification/amendment initial notification
3 details of the issuer, emission allowance market participant, auction platform, auctioneer or auction monitor
a) name centamin plc
b) lei lei 213800pdi9g7ouklpv84
4 details of the transaction(s): section to be repeated for (i) each type of instrument; (ii) each type of transaction; (iii) each date; and (iv) each place where transactions have been conducted
a) description of the financial instrument, type of instrument
identification code ordinary shares
isin je00b5tt1872
b) nature of the transaction vested share awards that were granted in june 2020 under the terms of the company's performance share plan
c) price(s) and volume(s)
price(s) volume(s)
nil 372,290
d) aggregated information
- aggregated volume
- price
372,290 cey shares
98p support line doing okay this morning and a possibility for a bounce to top of the down channel around 100.5p area if gold holds or edges a bit higher. Overnight Asia markets favouring a FED pause however that view can change back quickly. AT least FED members are in black out with media. Gold in USD appears to like pause message as USD edges back.
Major European markets traded flat on Tuesday's premarket session. Among yesterday's top stories, it was known that, according to Sentix, investor confidence in the eurozone worsened in June. In addition, S&P Global and Hamburg Commercial Bank (HCOB) reported that business conditions deteriorated in May.
At 7:20 am CET, major European indexes, the German DAX, the CAC 40, the FTSE 100, and the pan-European Euro Stoxx 50 were flat.
Two minutes later, on the currency front, the euro and the British pound improved by 0.14% and 0.13% against the dollar, selling for $1.07280 and $1.24523.
Baha Breaking News (BBN) / JG
Hi Tornado,
Your post confirms what a wholesale gold trader told me.
Hi Astro,
Valid comments!
'Farage was never the hard up ordinary bloke he liked to promote himself as,
One close colleague says he has the strengths (and weaknesses) of his former career as a commodities trader. "He can spot openings in a market and take snap decisions, but he does not think strategically. He thinks and acts on the spur of the moment, as you would expect of a trader."
https://www.bbc.co.uk/news/election-2019-50565543
JP Morgan points to
Not the only comment I have heard today, on te topic ,from Kitco news.
Overall everyone needs patience,but in the end ,looking good for Gold price and later Centamin.
June is traditionally slow for gold, but for the rest of the year, it should logically rise.
Astro
https://english.alarabiya.net/News/world/2023/06/05/-India-s-rainfall-delayed-by-another-2-3-days-weather-officials
They will have a good idea how much rain is arriving by late June. A good rain, is a good harvest which leads to heavier physical gold buying later on as jewellery makers get busy for weddings later in the year. We tend to get dips in June spot prices as the jewellery makers want a lower price to cover their margins.
https://markets.ft.com/data/bonds/tearsheet/charts?s=US2YT
In addition two year Treasury yields have moved up as well.