We spoke to new Sterling Energy CEO Tony Hawkins about the latest changes happening at the company. Watch the full video here.
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just popped in to have a look, catch up and say hello..
A couple of points to mention after reading all your posts..
First, the auction's deadline is Wed 15th July, not 15th June.. and this is the official auction link from EMRA..
Second, this site published the details of all the areas (need to download from the window via Scribd), with maps and detailed info, showing section G (Atud, Om Oud and Hangaleya) is the closest one to Sukari, even in the content of package G , point 19G- Report on Sukari concession. (The interested company has to buy the package to get all the details). I also noticed that area G is the most expensive one to buy its package..
I noticed that Om Oud and Hangaleya ( within section G ) are on the auction list, while these 2 areas were allocated to Eastern Gas Company in the previous auctions in July 2017.. so it seems like government has officially cancelled those allocations.
Sorry all in Arabic, but am sure Google translate will help you..
(I don't hold any Centamin shares)..
I like the way you think Rebess!
It looks like there has been lots of action going on behind the scenes .
I can understand the reasons to keep this quiet until the changes and announcements need to be made. After all we will have very stiff competition coming our way once the beans are spilled.
Egypt's new mining terms are indeed very attractive!
Anyway this is all my conjecture - pieces do seem to be falling into place after a decade of wondering and waiting...
June 15th we'll hear something
Hi Cowichan- The 160km beyond Sukari where the courts have suspended their licence, part of the area you are referring to I think, What if they re-apply for this under the new terms and receive approval. - This immediately cancels out the court-case ruling and will set Centamin on a new course, free of of legal challenge, removing any impediment that may hve prevented institutional investing. - Just a thought..
found some interesting 'wording' in the May 27th Annual Report regarding;
a) the next mine to be built adjacent to Sukari *
b) satellite deposits to add to production **
(excerpt from page 49)
In 2019 a targeted reverse circulation drill programme was carried out on the V-Shear South prospect, 3km northeast of the Sukari processing plant.
At V-Shear South, gold mineralisation is hosted by a porphyry unit that has characteristics similar to the Sukari porphyry. Exploration at V-Shear South is at an early stage but the interpretation of gravity inversion modelling shows linkages to Sukari Hill that extend beyond V-Shear North.
*The system is open and H1 drilling will target extensions and resource-quality of this mine-style gold mineralisation.
Five holes were drilled at the Quartz Ridge prospect, located 4.5km from the Sukari processing plant to provide material for metallurgical testwork.
**This is a key regional target for potential production development in 2020.
Infill resource and grade control drilling, in addition to metallurgical testing is budgeted for completion of a production schedule in H2
My Thoughts: After ten years of stalled exploration on the Sukari tenement it's no coincidence the development of these resources coincide with the new terms & conditions coming into effect
Indeed Mr T, Thankyou.
Very refreshing to see the truth some out about the flawed monetary system we have, come out frm another source. Its rather amazing that it has not been knowon about by the masses for so long. A slightly different tack to Goebells (another interesting person in the PR business is at the link, well worth a read https://en.wikipedia.org/wiki/Edward_Bernays ) and their PR machine, the flaws in the monetary system (and indeed the false aspirations fo the power of the modern democracy) builds on people's ignorance.
best, and thanks again!
Excerpts from Egypt Oil & Gas Newspaper April 2020
(page 14 final paragraph)
'EMRA plans to implement a group of activities in FY 2019/2020, such as signing 86 contracts for exploration under special conditions, signing three agreements for gold exploration, and two agreements for exploiting and producing gold.'
My thoughts: Further confirmation Centamin has bid and secured a new concession already
(page 16 final paragraph)
Q&A with Aton's CEO Mark Campbell
Q) What are the future plans of Aton Resources?
A) 'We have an area called Hamama, which is an area we have looked at a lot. It depends whether we can migrate into the new law.'
My thoughts: Sukari operations will 'migrate' to the new terms as well
Q&A with SMW Gold Holdco (page 18)
Q)What are the latest updates on your operations in the Eastern Desert?
A) One of the largest drilling companies in Russia is ready to conduct the works on good terms, at both deposits, and possibly join forces with us to organize a prominent drilling services company in Egypt. SMG Gold enjoy the full support of respective govt agencies and Rosgeo a govt (Russian) owned corporation has officially expressed interest in taking part.
My Thoughs: hmm...
Q&A with Resolute Egypt Pty Ossama El Maghraby (page 19)
Q) What is your take on Egypt's new mining law?
A) ...it is very similar to the Queensland mining code... I was part of the team that developed the stage four scoping study at Sukari... rewriting the mining code is a paradigm shift...
Well for those of you new to the race and to Centamin she is a pure bred filly with enormous potential but that comes with a strong mind and a tendency to do her own thing. This she is proving once again today by falling with a surging gold price.
Would not be surprised to see a later comeback in the last 30mns of the day.
Best wishes to all,
Usually the main movement comes when the US market opens.. for better or for worse..
Very interesting article Gnome, thank you!
Well that is an eye opener article Gnome,it looks like we have a lot of unpredictability from many areas coming, perhaps I should stick to Bingo!! Thank you for the posting, I wish you well.
If you think the CEY share price is unpredicatble, spare a thought for trying to understand let alone predict the value of "magic money"
Today, the United States and other advanced countries are experiencing the second wave of an especially powerful twin shock. Taken individually, either the global financial crisis of 2008 or the global pandemic of 2020 would have been enough to change public finances, driving governments to create and borrow money freely. Combined, these two crises are set to transform the spending power of the state. A new era of assertive and expansive government beckons. Call it the age of magic money.
Wont be much magic about it in the end, will be worthless
Well I would have bet a lot of money on us rising today,cannot understand that gold is holding steady and the stock market looking ahead at a slow down,no wonder that a lot of money can be lost as it is just so unpredictable. G.L.A.
Trump is furious! Twitter just took our movement’s advice and posted fact-checks on one of his tweets!
Trump has hit back by threatening to 'close' social media platforms that don’t let him spread his lies without scrutiny, and now Twitter CEO Jack Dorsey is under massive pressure.
He’ll either stand strong for integrity or back down -- and he's deciding right now.
Let’s send a massive "thank you and keep going" to Jack Dorsey, encouraging him with a giant show of public support to go all-in on this direction. Avaaz has repeatedly met with top Twitter executives and we know they're listening -- let's appeal to them to stand strong:
Don't forget golds rebound after yet another blantant US shorting session
European shares traded mixed in the premarket on Friday as investors are waiting for economic data to be released. UK Nationwide Building Society is releasing its housing prices report while German Destatis will report on the country’s retail sales.
The FTSE 100 ticked 0.55% lower at 7:16 am CET. The DAX was down 0.91% and the CAC 40 gained 1.13% a minute later.
The euro grew by 0.17% against the dollar selling for $1.0929 at 7:17 am CET, while the pound went up by 0.16% versus the greenback to go for $1.23390 at the same time.
Breaking the News / TF
Happy Friday y’al
End of the week/end of the month.
Monday June 1
Sotolo, thank you for this!
No place to hide: How market manipulation in age of pandemic is destroying traditional safe havens
Professor Carol Alexander
The Coronavirus pandemic has created enormous volatility in global financial markets but prices of safe haven assets such as gold and bitcoin are not surging, as one might expect, thanks to intense and large-scale manipulation, according to analysis by the University of Sussex Business School.
The contrast with the last major global financial catastrophe is telling. Following the Lehman Brothers collapse in September 2008 the correlations between the S&P 500 index and gold, or the Swiss Franc, or US Treasuries were all around minus 40%. During March and April 2020 the correlation between the S&P 500 index and gold was plus 20%.
Even more surprising is the behaviour of the bitcoin/US dollar rate – since this cryptocurrency emerged in January 2009 its behaviour was completely uncorrelated with any traditional asset, but as the S&P 500 index plummeted in early March 2020, so did bitcoin. Their correlation was plus 63% then, and it remains unsettlingly high at 40%.
Thanks Mick, brilliant!
I wont be selling as Centamin has the potential for some very considerable upside, although some patience will most likely be required.
Centamin is a contrarian share and very difficult if not impossible to predict especially during these times, a long term hold.
I bought at 1.71 maybe a bit too high looking at it now has it got any upside or best to get out as a day trader on this
Is this not a case of tit for tat after Oz was persuaded (threatened) by Trump to impose tariffs on China?
Hi Goldgnome & Dansul,
Thank you for the posts, I sahll be passing them onto my London gold trader friend and to my well informed contact at Centamin, both are always interested in such information.
Are already starting to punish Oz with various tariffs-very poor
talk about diplomacy with a big stick-I would like to see this rebound on them-probably wishful thinking
Major European stock markets were higher in premarket trade on Thursday after yesterday's announcement of a €750 billion economic recovery plan by the European Commission and a seven-year EU budget proposal of €1.1 trillion. The investors will await economic data regarding consumer confidence in the Eurozone, as well as inflation figures in Germany, set to be published later in the day.
The DAX gained 1.22% at 7:13 am CET, while London's FTSE 100 increased by 1.01% at the same time.
The euro was 0.06% higher compared to the dollar at 7:13 am CET, trading for 1.10119. The British pound declined 0.07% against the American currency, going for 1.22570 one minute later.
Breaking the News / MS
Thanks Mr T for sharing that very insightful story!
From afar and downunder, I struggle to think of how people can be attracted to vote for the likes of Boris Johnson. Further I struggle with the concept of the virtues of the democratic way, as it exists today. The Democratic virtues seem to lie in appeal to the lowest common denominator. Oh for a truly benevolent dicator.