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@tornadotony - 50/50 - really am not sure so took some profit. I cant see the Fed raising interest rates just now but 50/50. Time will tell.
Confluence I think your referring to consolidation. It certainly closed gaps in the gold chart. As for the situation in banks they have quite a problem on their hands. The San Francisco Regional City Bank is beyond saving, there is no confidence for anybody to open a deposit account and it will need another bank to take it over. If it spreads to real estate which is the next shoe to drop on any rate increase, we could see a string of USA banks in deep trouble. The FED are in all kinds of trouble.
Agree from looking into the market makers today. Our big banks are Barclays currently down, Lloyds and Nat West unchanged from Friday. Not the bounce back many were hoping for who are into banks. Gold/Silver holding at higher levels. Suspect some are now writing in that chances are the Fed does not want to make a situation it might have created worse? The risks are now 50/50 as to whether they will even increase this week without more time investigating the costs if they do!! Certainly an interesting week this one.
I took some profit at 107p this AM. I still have some shares but Cent often fails after promising. IMO this bank thing is bit overblown and gold will retrace again in the short term. Best a luck y’all and DYOR.
Donald Trump removed regulatory requirements on Regional Banks if they were below x billion as they were not considered to cause systemic risk. So after the FED managed to drown Regional banks with Treasury bond sales two years ago to help with its balance sheet it created, you guessed it a systemic national problem in US Regional Banks is created. So far .... Only in America and Switzerland.
Check out (what could have been your) Centamin profit, propping up Capital Drilling's 2022 year end results. And guess what, Capital's 2023 revenue is projected to be even better - Yippee!
25.9% Return On Capital Employed ( Up 22.7% on FY 2021 )
Revenue $290.3 million ( Up 28% on FY 2021 $226.8 million )
EBITDA $86.4 million ( Up 19% on FY 2021 $72.4 million )
Cash From Operations $69.8 million ( Up 68% on FY 2021 $41.7 million )
2023 Revenue Guidance $320 - 340 million ( Up 14% on 2022 )
Note : These numbers ( growth in revenue/profit ) are stunning given the relative small size of Capital's business & inflationary pressure every miner/contractor has been facing. How did they do it?
Centamin's board was presented with an 'urgent and dire situation to remedy' shortly after Mr Horgan took the reigns. To fit this narrative 'movement was detected' in the open pit - which quickly transformed itself into a mammoth 4 year sweetheart deal to move a decade's worth of waste - with not even a PEA let alone a PFS to assess the pros/cons of the gargantuan expense.
DYK the Capital contract actually safeguards Capital's profit margins? Yes it does - the Sukari waste moving contract is 'inflation protected' - that means all the upward inflationary pressure on consumables & wages is borne by Centamin shareholders for the contract's duration, think about that!
I'll leave you with a quote from the presentation and some music to enjoy while flipping thru the pages; Capital boats Best In Class Returns and Margins 2022 ROCE >25% and EBITDA margins ~30%
Even Shania agrees https://youtu.be/-FMhUNSIxks
https://www.capdrill.com/media/investors/Presentations/NEW-CAPD-FY22-_160323_Final.pdf
Coordinated central bank action to prop up the corrupt system and the over bloated dollar dominance!!!
https://www.bnnbloomberg.ca/eu-authorities-say-holders-of-risky-bonds-should-bear-losses-only-after-equity-1.1897863
I'm just not sure whether this shotgun UBS/CS wedding can forestall further financial market contagion.
Reassurances, like this complicated tie-up, are dangerous - it can allay fears or just confirm/accelerate them. XAUCHF should fly on the open - yes its a bailout!
https://www.bullionvault.co.uk/gold-news/cs-gold-2000-032020231
Although wildly fluctuating, is holding up well.
Overnight buying maybe push it back to 2000 plus.
There seems to have been an attempt by western countries to push it down.
Just looked at the video Tony lol
The rise in gold price is elevating gold sold price averages for the entire year for Centamin. The impact thus far is elevating the average fair valuation from 101-105p range to 104-109p. Values can be over or above the median depending on future outlook. Another factor is that production values in H2 are higher with a lower AISC and lower Capex. The share price if staying above $1800 would hold the new higher average range where as at $1950 and staying there it could average 128p-130p.
Where most priced in already 0.5% some now .25% at the most, wonder what will happen if no rate rise this week which is the safest call being honest until the Markets (well banks) sort themselves out!
Could be a good week for us in the end even if the Gold and Silver price treads water I am sure it will be held up on risk factors! Most miners will then benefit I am sure.
Quite a dilemma Sotolo, wished I knew the answer, trouble is we retail investors are usually the last to get to know the whole truth or full facts about any of these miners!
It's all about trust and integrity really and where can these be found ,they are as rare as rocking horse poo, certainly not found in the markets and not many companies!
Tibbs
Ooops- soz, will not posts my trades again- exuberance got the better of me today- it annoys me when others do so won’t do again
And out- GLA
On another note interesting that Centamin has earning of 5p per share so PE of 20, while
Tharisa has earnings of 50p per share PE under 2
Tharisa only pays out 17% on profit in divi but that is over 6% and higher than CEY which has payed out most of them though reducing to above 30%
The worry with Theresa is they are ploughing the rest of the profits and more into a new hole in the ground in Zimbabwe, mining platinum palladium rhodium and around 10% gold, but this is very advanced and will start producing next year. Tharisa too have borrowed for the first time, just as interest rates soar, and a similar sort of amount
Tharisa are subject to the rapid drop in rhodium but made up for by the rapid rise in chromium
The share prices are saying the market expects Centamin profits to double
And Tharisa's to fall 5 fold
For both to be on a PE about 10
I am not sure it is right, as both are growth stocks if risky, but Theresa far more so on both
You are welcome Mr Bond!
Will see If I can find out more, hope some others will too!
Mr Tibbles, they are always confounding doing the opposite of what you expect except when they don't - so you have it on the button, maybe they will spank us down and maybe they won't, all best
Thanks Mr Tibbles
POG certainly helps us out at a precarious time , just wonder what the Yanks will try to spank gold down again, or perhaps they wont having just borrowed 100tons?
To be informed of all CENTAMIN PLC's upcoming presentations, register at InvestorMeetCompany: https://www.investormeetcompany.com/c...
https://www.youtube.com/watch?v=RQ5FsX389F8
225 views 20 Jan 2023
Centamin sees rising Sukari gold output, sticks to FY targets
Centamin’s Martin Horgan tells IGTV’s Angeline Ong why the gold producer is on track for its gold production targets, thanks to diversification and expansion plans. Plus, Horgan updates investors on its Doropa Project in Cote D’Ivoire and Egypt.
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https://www.youtube.com/watch?v=uq4ZOkg6Rt4
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https://twitter.com/centaminplc/status/1637729734816587777?s=12
Yes profits at this price around 3 to 1 to gold price increase/decrease. I extremely naughtily bought another 10k at £1.03 at the opening today, they are still 4% cheaper than a week ago!
Managed to get back in at the open- well done those that did Friday pm :-).
Spot gold went over the $2,000 per ounce mark on Monday for the first time in over 12 months as recession fears continued to grip global markets. Investors opted for the safety that the yellow metal provides even after several major central banks announced action to support global liquidity.
Gold increased by 1.24% to $2,007.92 per ounce at 3:45 am ET today. Silver gained 0.14% and reached $22.57 per ounce at the same time.
Platinum declined 0.57% to $973 per ounce at 3:45 am ET. Palladium decreased by 0.77% to $1,397.94 per ounce a minute later.
Baha Breaking News (BBN) / MS
It would be nice gold stayed above $2000. That should increase profits and maybe bring the dividend back up without anything else changing. Didnt Sotolsay the share price is 3-1 linked to the price off gold?
Now gold is $2000, how long before the shouts of "Its going up to $3000" start again?
One thing that I think would make money pile into gold is if there was some other scandal/ crash/ cyber attack on crypto. Despite these things being (So secure) I can see them getting hacked, cracked, cyber attacked.