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1.63 Canadian is 98.2p UK. Centamin is pricing in $1800 USA gold price at this level.
We are talking US market mentality,which it seems affets everyone.
Presently it is down 15 cents or 8.43% to $1.63 on the TSX Venture. A little over done here but maybe a good time to Buy
Lol Mr Bond- who knows- where the SP is now is what Id have expected after the RNS but not how it’s got there today! As for Kitco and others, they don’t know much more than us- most are
like football analysts after a game- if a team near the top top wins a game 1-0 with only 1 chance to score- they say “sign of a good team, taking chance and winning - league winning form”, but if they lose 1-0 with only making 1 chance they say “you cannot expect to win a league by only making 1 chance- poor football” lol
B-oody hell!
Looks like I did jinx it!
Jim Wicloff on Kitco puts Gold down to profit taking.
It will take a few days for normalising ,especially after the Bank chaos of the past days.
IMO
MrBond Fresnello was down 5% at the same time Cey was down 8% and Gold had dropped from $1930 to $1910’ish at the same time …. So I think this more than likely the cause.
Tornadotony as for my wife’s hair, her boyfriend has been looking after it for years…
Still fair play to you for doing the right thing.
Steve, I have. However I suspect gold has put in a double top on the weekly chart and we have seen the peak. It has not broken through $1950 per ounce.
Not seen it as volatile before of triple witching but then again this has coincided with RNS
It may be connected to the drop in Gold price, but Gold on the way back up again now.
It could br as Dasut says shaking the tree, but also as Tony says 3 witching. day tommorrow.
Crazy , its the market, logic does not exist as we know it.
Be patient ,no panic or tearing of hair ,its normal .
GLA ,have a whiskey.
I was helping my wife wash her hair and it was 103p and when I got back it was coming back up to 97p. Just added another tranche into the ISA. This is what happens coming up to triple witching. I am not trading but stake building.
WTF is happening? When I left for golf this was 108.2?
98.27 buy in ISA back up to 20% in.
Added to my previous CEY long at 98.18 in the trading account.
This market trick to scare small investors and sell to run with their money, and the tricky actors collect as much in lower price, it happened all the time after CEY announcing results.
Hold on guys, don't panic. long time members here should be able to understand the those evil's tricks.
GLTA,
Dan
Today's SP spanking by the market has eroded the divi !
Centamin declared a 2.5 cents per share final dividend, halved from a year earlier. It total payout for 2022 amounted to 5 cents per share, down 44% from 9 cents a year prior.
https://www.sharesmagazine.co.uk/news/market/1678958600879207000/top-news-centamin-cuts-annual-dividend-but-maintains-output-guidance
Thank you for your thoughts on this Dasut.
Shows just what a mess Sukari was in!
Hopefully they won't have to extend the waste clear up period any longer and the oil price has reduced which should hopefully help the next set of figures!
To be fair yes it was and also subject approval, possibly then we should be feel somewhat relieved it wasn't cut completely, let's hope they aren't saving that for next time if profits haven't improved sufficiently !
This dividend was clearly stated in the dividend declaration dated 4/8/22. Priced in and is not a further cut as I think some believe:
‘2022 Dividend Intention
As Centamin continues to deliver on its growth plans, the Board reiterates its intention to recommend a minimum dividend for 2022 of 5 US cents per ordinary share with the potential for increased distribution aligned with the Company's free cash flow generation after growth capital investment. Therefore, this implies a final dividend of approximately 2.5 US cents per share (US$29 million) to be proposed with the final full year results for 2022. The final dividend will be announced with the 2022 Full Year Results in Q1 2023 and remains subject to Board recommendation and shareholder approval.’
The much higher gold price will mean the loss on profit is around $1.5M on 100,000 ounces. So Q1 results could knock as little as 2p. The real issue is Q2 results if gold prices retreat as then the pull back could be over 7p if 1800 gold does not hold. The opposite applies in H2.
No surprises, pretty much as expected so next date will be 1st quarter results and this is when we will need to take some deep breaths. Reduced ounces due to plant maintenance hence the split 45:55 and additional impact capex split the reverse at 55:45.
Extraordinary costs will still be applicable due to the continuation of the waste contract.
Extraction continues through maintenance so ROM will be full and plant full on once maintenance is complete so second quarter will hopefully be back on track but as I say first quarter I am sure will hit SP.
Keeping the faith will be difficult when the next set of figure come out.
I agree, Somnamna, please "Get a wiggle on!"
I am ok with the dividend MrT it is after all a function of free cash flow.
All we need now is for Martin H having fixed the mine and identified cost savings and other initiatives to focus on increasing the ounces and adding value to the share price e.g. monetising the 160km2 and EDX.
In the words of our antipodean venerable poster "its time to get a wiggle on"
Quite so Paul, and Tibbs good news if Buchanan (think it was them) has been replaced
Crossing fingers so as not to jinx it Mr T. As a few have said the share price is all over at the moment but hopefully settle to more or less level today.
IF so , I think that will show that there is confidence in Martin Horgan. You are fully aware of the last few years and the history of the wall. Normally a 6% increase in production would have fallen way short of what had been promised----AND the dividend cut would have been the icing on a very unpalatable cake.
The dividend cut has (I think) been expected and priced in. RNS with nothing scary is now considered good.
Im hoping that Martin Horgan has now seen off the new ball and the opening bowlers and is going to start to move through the gears. Im also hoping at some point he signals to the pavilion for a fresh pair of gloves and a heavy bat!