Centamin PLC Share Chat (CEY)

Yes Mr Gnome , good morning, or in your case night ,the divi in these times reigns supreme,that along with no debt,and the philosophy of new ventures as stand alone, after initial startup.And of course long life of mine
Pity more were not so wise.
Be interested in seeing what te MM's do to the price today,not that it really bothers me.
Have a great day ,everyone.

Shares on major European stock markets were lower in premarket on Thursday after several companies form the continent, including Credit Agricole, Siemens, Lufthansa, ING, Unicredit and AXA released their quarterly reports. Also, the Bank of England will announce its interest rate decision before the start of trading sessions in Europe.

The DAX lost 0.31% at 7:40 am CET, while London's FTSE 100 decreased by 0.64% at the same time.

The euro was 0.16% higher compared to the dollar at 7:41 am CET, trading for 1.18822. The British pound advanced 0.10% against the American currency, going for 1.31270 concurrently.

Breaking the News / MS

In Oz the mian source of the dividend streams has been the banks. They were worshipped by all manner of investors for years, if not decades for paying out about a 6% dividend regulalrly. Well that has stopped now, and will be al long time before it starts again, if ever.

So CEY on a 6% dividend is fabulous, and it looks sustainable in these times, if not expandable!

great days for CY true believers!

the gnome

Quite so Sotolo and Mr Bond, I am also holding on tightly!

So much uncertainty, but stimulus packages will keep gold high for now. China tensions and an uncertain US election. I am not selling in August, may consider selling a few at £2.50.

Sotolo ,I agree totally .
No one can predict our future,especially now.

Make interesting reading from sells at 218 to buys at 231.
Tomorrow very interesting.

Mick a similar article was on Kitco news ref. Centamin, yesterday ,could partly account for huge rise today.

As he mentioned yesterday - CEY was conservative on the dividend in H1 with the capex due in H2.
The gold price going to $2030 today means that a lot of this capex is easy to absorb and the H2 pay-out looks very positive.....Centamin is now fairly rated in view of its gold peers, yet is a far better investment than most gold companies because if its strength of balance sheet (ie no debt/hedging), and it is fully exposed to the gold price, giving investors capital and yield growth, the latter you don't get with an ITF!
Centamin manegment really does value the loyalty of long term share holders for sticking with it through thick and thin and believes they should be rewarded!
So watch this space!

Dasut, me too as although this is fun also stressful. Many of us are anguishing over if or what to take off, some like Tiger did it a week or two ago, worried falling stock markets would pull down gold and miners too. However my reading is still that, although this could be a top, or a temporary one is near, everything is aligned for a decently more than 50% likelihood of what some of us have been waiting for for many years:
Negative real interest rates
Huge money printing leading to inflation
Competitively falling currencies
Centamin undervalued yielding an amazing 6% and rising
And a connected manic buying public - look at bitcoin a couple of years ago
Gold is not in a bubble yet so could have a way to go, and just look at silver!
Maybe take some off but I’d be brave and hang on, there may be a big correction but don’t try to time it, the only lesson of history is history has no lessons, this time gold may not be brought down with the market but enter bubble or anyway climb further. None of us can bear missing out, yet nor do we want to feel really silly if it falls. Well for me the odds are up so I’m hanging on for now in wonder and fearful, but sometime we will need to lighten and can help each other decide

Thank you for posting Mick, obviously I don't have a crystal ball but I have a very strong suspicion that there is lots more to come yet, especially with our new CEO in charge.

DASUT
Top slicing is often the best thing to do.
That way you can never be completely wrong
ATB whatever you do...

I put a new sell order at 235 and wow came very very close do I stay or do I go?
I am looking to finally retiring from investments and enjoy some spending . GLA

Sharecast News) - Strategists at Bank of America hiked their 18-month target for gold futures from $2,000/oz. to $3,000/oz. as governments continue to act to mend the damage from Covid-19, backstopped by central banks.
https://www.lse.co.uk/news/ITM/bofa-sees-gold-hitting-3-000-oz-silver-at-50-oz-p83hfdaga9k7xgb.html

By Alex Hamer
Centamin (CEY) has made the most of the gold price in the first half of 2020, and shareholders will reap the rewards.

The Egypt-focused miner increased production at Sukari and dropped its costs year-on-year, resulting in a cash profit for the period more than double last year’s, at $256m (£196m).

The interim dividend of 6? per share was ahead of analyst expectations, and the year-end payout could be increased again.

Production for the half was 256,084 ounces (oz), a 9 per cent uptick on the first half of 2019. The average realised price was $1,657/oz, a 27 per cent increase, and the all-in sustaining cost was $899/oz. This cost measure includes sustaining exploration at the mine site as well as refining costs.

Adjusted free cash flow was $102m in the half, compared to $36m the year before. This will come down in the second half as capital spending is ramped up again. Capex guidance for the full year is $150m-$170m, with $100m to come between July and December because of Covid-19 constraints earlier in the year.

Berenberg is forecasting a 2020 dividend of 22? and free cash flow of $323m.

IC View

Being a gold miner is not hard right now. Being a gold miner with net cash and stable production like Centamin is even better. Buy.

Last IC View: Buy, 192p, 13 Jul 2020
https://www.investorschronicle.co.uk/company-news/2020/08/04/centamin-earnings-surge-on-gold-price/?utm_campaign=Investment%20Daily&utm_source=emailCampaign&utm_content=&utm_medium=email

Hi Sotolo!
Yes, I bought (heavily) on the morning drop when the interims came out. I've no idea why it fell like it did then, but I took full advantage.
I've sold my HOC today, and some of the Centamin shares - just to lock in the profit. If I'm being honest, I'm flying blind ATM. I've got no idea what's going on with gold and the bond and stock markets right now. But I've stumbled and blundered my way to a profit, so I'm not complaining.
Only one thing I'd add, which is I can understand why the dollar is weak. But how can the pound be so strong? Our Covid-19 recession is predicted to be about the worst in the developed world. And we still have Brexit to come, and almost no trade deals have been signed. So I'm concerned about a run on sterling when the market wakes up to this.

Thanks Mr Bond
https://www.kitco.com/commentaries/2020-08-05/Big-money-is-coming-to-2-000-gold.html

If it continues to zig and ....zag I am sure we will all see the promise land.

dividend was respectable with eye catching 50% increase but I hope the 2021 dividend is 10 cents plus...... Anyway, Positive more reserves for future mine developments. Anyway, sold 500 at £.2305 etc

Kitco.
Big money is coming to gold.
By Peter Krauth.

Took some profit today, reality is there are so many miners to invest in, one of them will be a bargain tomorrow. However, i would love it to be Centamin, I need to see 226 and im back in.

https://on.rt.com/anmc
Peter Schiffe is confirming my worries. If the dollar drops off a cliff ,the short term negative effect will hit everything.
Liquidity problems ,as earlier this year.

No shame in taking some profits today. I'm not usually one for predictions but it's likely you'll be able to get back in lower prior to the divi - gold won't go up in a straight line (famous last words!?)

Incredible, it it a mirage , I fail to see how anyone can claim that they can predict where the market is going, I only wish that Wally from Cornwall, Sinner, and a few of the other old timers were still aboard this gold train !
But really glad that so many of the old guard are still aboard and holding on tight!

Hi guys

I know some of the brokers have predicted 2500 dollars per ounce do we we think we are on a new trajectory up......

I am sure we will have a pull back sometime for a breather- tempted to sell a few for the credit card bill-holding out

Views and thoughts appreciated

Bests to all

Hi Mr Bond - I can understand gold/silver and the miners, but Wall st. at the same time, is difficult to contemplate.
It might be the dollar-demise. - It's the laws of financial-physics running riot.