Centamin PLC Share Chat (CEY)

Yes excellent news now will I regret removing the sell order of £2 or was it a good move, I guess time will tell and I am hopeful now of a positive first financial report by our new Chairman and CEO ?

Milestone of 200 reached. Well done old friends. I still remember the cries around these walls of "the yellow metal is dead" .."Al Fakharany".. and the noise of despair. We held our breath every time there were a court session and the inevitable postponement .. the scouring of information to share with our friends here.

The feeling of relief, excitement and comradeship when Siko & Mr Timbles would barge in with undercover information freshly retrieved from the Gestapo. Oh how we lived on the edge. We were literally on the edge of 35p .. then 40p .. then 50p .. then back down to 30p. They laughed at us, they saw but green while we had the yellow tint in our eyes.

Some of us dropped off the Wagon way too early but our hearts were always with this and just like in Valhalla, the brave shall live forever!

With gold at over $1883 and AISC around $900, we are close to clearing $1000 an oz.
If this holds and if we assume production for next year is in line with this year's mid point then we would see profits of $520M so $260M after profit share. With c1.15bn shares in circulation that would mean c22.5cents or 17.7p per share being generated.
Does anyone see any flaws in my maths?
Best wishes,
Prof

Proper order!

So we both think there will be a pullback, the difference is I am holding on through it as I don’t know how big it will be nor how long, timing is hard and I don’t want to miss out on the subsequent rise. On the way down I always promised myself I’d get out at 160 and didn’t, on this way up I promised myself I’d get out when gold neared all time too as now. But I think PM’s are such a raging buy I am ignoring my own advice, I may rue it, but just look how fast silver has exploded up, to borrow your metaphor the canyon might be a ditch.

Briefly hit 200p on Google.

I just read this on Marketwatch - liked the metaphor...
"As the story goes, there was once so many cobras in Delhi that there was a bounty placed on each dead one delivered to the government. At first, it worked. But then, entrepreneurs began breeding cobras for the income, and the authorities had to cancel the program. The breeders then released their snakes — whoops! — and the cobra population exploded worse than ever.
That is what’s known as the “cobra effect,” and, as Wall Street veteran Larry McDonald explained, it’s playing out right now in regard to the unintended negative consequences of public policy and government intervention in economics. Basically, the solution is worse than the problem.
“We believe we are at the early stage of the biggest cobra effect in the history of economics,” McDonald wrote in a post on his popular Bear Traps Report blog. “As the massive monetary and massive fiscal stimuli (over $15T globally) conjoin to save the economy from a deflationary depression, they will cause instead a hyperinflationary economic collapse.”"
And, Sotolo, to adapt your own metaphor, if you don't mine... I believe that we have indeed left the plains and climbed the foothills, and we can see ahead in the distance the snow-capped mountains. I just think that there is an unseen canyon between us and those mountains, and that the gold market will drop with the wider stock market when it crashes, which simply can not be far away now.
So, I'm assuming down first before up and away...

Isn’t it extraordinary, we dreamed of this, nearly time to dust off those golden flip flops, I wish the likes of Uncertain were around to enjoy it, but you like I must be pinching yourself and your Cey heavy portfolio too into new all time high territory, like you I have kept adding in the long low days, and my mad portfolio is now 40% Cey but also 40% Hoc and Fres, as this is. A better company but I like silver. I have no exit strategy now as hard to time in and out, and I feel/hope that we are still in the PM foothills, tho expect a pause for profit taking pullback at the gold dollar all time high shortly but once through that..

Just saw Cey at 200 on my HL account. Unfortunately it was the weird and erroneous pricing you sometimes get right at opening and it is now showing 196.
Still was nice to see briefly and I like to think it is a sign of things to come later today.
Strange to think that I am now frustrated by a 196 share price. There were times within the last year that I was wishing it up to 96.

Gold hit £1473 overnight - another new all time GBP record and is currently settled nicely above £1470 as we approach the start of the London trading day.
200 for CEY has got to give soon. Is today the day?
Best wishes to all,
Prof

European stocks were mostly higher on Thursday after Daimler and Hyundai posted their earnings. Meanwhile, investors continued to focus on coronavirus economic recovery efforts as well as tensions between the United States and China.

The DAX was 0.23% in the green at 7:45 am CET and the FTSE 100 was flat at the same time. France's CAC 40 gained 0.23% at 7:28 am CET.

The euro was 0.12% up against the dollar, going for $1.15839 at 7:29 am CET. The pound traded flat compared to the greenback at 7:44 am CET, changing hands for $1.27348.

Breaking the News / VP

OT. My opinion: Texas Chinese embassy spying, is a phantom to win votes.

Happy Thursday y’al

Aloud,not ,we loud. its this auto correct ,on screen keyboard ,very annoying.

Depends what you use as a unalterable base line.
If the paper gold were to disappear ,then gold and silver themselves would of course be that base line .
Currency,especially dollar and pound, could fall off the cliff .
Then the Divi would fly.
Or be paid in food,the only other real base of value.
Excuse me thinking we loud.
Good day all.

Well Tiger I am hanging onto this bucking bronco that always does the unexpected. Last time the tumbling market meant tumbling gold, next time who knows? I am expecting a pullback before we break 1900 but if, nay when, we do our shares should climb considerably further so I am holding 40% cey, 40% Hoc and Fres, 20% Japan and not a penny of cash. I think gold is at the start not the end, a twice or thrice in a lifetime opportunity that I have been waiting for. I may well be wrong in which case I will pootle along, but if I am right I see Cey at 300 Hoc at 500 and Fres at 2500. Probably Tiger you are the wise one but nothing ventured....

Hi All!
So far so good in these crazy times. But IMO the wider economic situation is as unstable as nitroglycerine.
At some point, some tiny unexpected shock is going to set off an explosion of selling in these wildly overvalued markets. And gold has been driven higher largely by ETF buying, some of it leveraged. So money will pour out of gold ETFs in an almost uncontrolled fashion as margins get called and players desperately need cash, and the gold price will plummet.
In short, we are happily riding the escalator up now. But (IMO) going down will be like being hurled down a lift shaft.
For me, it's safety first from here on. I'm running about 70% cash at the moment. I'll be increasing that % again tomorrow. If I miss out on a bit of profit, so be it. There will be no liquidity to sell into if this ends in the way I think it will.
Just my late night rambling...

Oh and it looks like gold just hit a new GBP high while I was typing the previous message hitting £1469.49.

Sure I am disappointed that we closed today where we opened yesterday with gold having moved 40p higher however we came within a hair's width of breaking 200 and we hit a new ten year high, after having done the same thing yesterday.
We are in a good place and as Razors said we have an update to come 04 Aug which I suspect to be a further catalyst for a move up. Oh and gold is now above $1870 as I type.
I am still expecting to see 250 this year.
Hope I am right.
Best wishes,
Prof

Yes but we soared earlier

I noticed FRES were up 11% to our 3 during trading hours.

For what it’s worth since the world could be a different place by 8am tomorrow, the price of gold is now circa $1865 with a high of the day of $1870.31 being reached since 4:30
All is good for Centamin to break £2.00 anytime soon. Next market update August 4th and as I mentioned earlier dividend hunters will help keep the upward pressure on, then the EMRA mining licenses (application closing on Sept 15th)
All good for the upward.

Our peers, HGM - HOC -FRES are leaving us well behind this week in their response to themove in gold and silver. - Week isn't over yet of course, but for now, they've left us in the traps.

Certainly enough shady characters in the company, might be able to rub along nicely with some of the politicians that are in charge of some of the African states.
Endeavour creating value, for who exactly, its hedged, has mediocre mines in potential conflict zones, a CEO under investigation for alleged bribery and Sawiris has lost money on his investment so far?
Still perhaps a few pet analysts have cooked up some reports of future value?
Some freedom fighter, others will do dying in any war and he hopes to grab the spoils!
Egypt has enough to contend with at present without getting involved in wars!

Did he say whether they have paid their loans back yet?
And how is Mark Morcombe coping , with his record of mismanagement.
Sawiris sounds like Trump.

July 22,2020

Are you still planning on launching the mining investment fund, La Mancha?

With this rise in gold and the rise of equity positions, I think we have decided that we will invest our own money through La Mancha instead of wasting time and going to other investors and so on, because we are very good in creating value. And I decided now that I would stick to… you know, La Mancha stock rose by 60%, so we have now surplus cash that we can use to invest on our own, without partnering. It’s easier and faster.

And what about the amalgamation Endeavour-Semafo, which I believe was just authorised by Canadian authorities? Could it be the future champion of Africa?

The merger has already been done. And we are now one company and the market cap of Endeavor is now four or 5.6 billion [rather than three], because Semafo is not listed. And we are now considered one of the largest miners in West Africa. So it gives you a good idea on how consolidation creates value. So we will continue with this path with Endeavor being our vehicle because our aspiration for Endeavor is to be the largest mining company in Africa.

https://www.theafricareport.com/34267/egypt-ethiopia-i-will-vote-for-a-war-naguib-sawiris/

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All I can say is I hope Centamin expands damn soon or we might face this self proclaimed Robin Hood and his Merry Men out to steal our gold again --- there's a rhyme in there for Rebess :-)

Avinash Persaud – Intelligence Capital, May 2017

Former banker makes the case for modernising the UK’s current stamp duty on shares which could bring in an extra £4.7bn/year, £23.5bn over the course of a 5 year Parliament.

https://www.stampoutpoverty.org/live2019/wp-content/uploads/2017/03/Improving-resilience-increasing-revenue-May-2017.pdf

Although Eygpt has its problems and the legal system is somewhat challenging at least there is some civil order and a parliament, so I would rather Centamin concentrate on any future developments there rather than in some of the other African states where political corruption, civil war and unrest seem to be ongoing.