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My previous question to you was, has Horgan lied or deceived.
Your response.
So far as I am aware he hasnt -
Was your answer,just in case others missed it.
Read into it other investors and think .
Good night Mr Tibbles ,and of course everyone.
Do not have 50. 50 , profit share.
In case some have forgotten.
Quite so Steve, The biggest irony is Centamin that A lawyer, Hamdy Fakharany, who filed the case against Centamin claimed the returns to the government were not high enough!
https://www.theguardian.com/business/marketforceslive/2012/oct/30/centamin-share-suspension-gold-egypt
Yet no one else would have wanted the mine on the present profit share and EMRA certainly wouldn't have been able to operate it on a commercially viable basis, it becomes ever more apparent why the previous management were high grading and not clearing waste for so long it was the only way to make profits quickly!
Now the chickens have come home to roost and this is why the share price is on its ar(se, take over or merger my ar(se, on the present profit share terms it's just in their dreams!"
Tier one mine indeed, it's enough to reduce a shareholder to tears!
Egypt: How Sisi is running a pyramid scheme!
gypt’s national debt has quadrupled to $370bn since 2010, but key structural issues, such as the devastated public education sector and low-quality public health system have yet to be addressed. Egypt’s labour force participation rate has decreased to 42 percent, far below the low- and middle-income country average of 58 percent.
This is not surprising, given how the private sector has been suffocating under the constraints and opacity imposed by the military, which owns most of the economy and is forcefully purchasing privately owned enterprises.
Yet instead of making the most of this windfall to transform Egypt’s economy into a value-creating engine that draws foreign investment, Sisi’s regime has wasted billions on mega-projects mired in corruption, with no clear economic or even political outcome in terms of development.
https://www.middleeasteye.net/opinion/egypt-sisi-running-pyramid-scheme
It's already been said, but the biggest problem I see with buying CEY, even if I could reduce the cost via economies of scale etc- why would I buy, when I have to give half my profits away, when mining is so risky, and the environment so volatile?
Record inflation in Egypt as below won't help...
https://www.reuters.com/world/africa/egypts-headline-inflation-increased-258-january-capmas-2023-02-09/
However, past month: Gold down, CEY down ~15%, FRES down ~13%, Hochs down ~17% (all UK listed- UK indices have been increasing). Newmont down ~8%, Barrick down ~5%.
The key common driver here is that despite Jerome seeing inflation "top and drop", his hawkish tones and actions remain... for now...
I agree though, Mr T- this share is frustrating as when it falls, it falls, and intraday seems to fall when gold falls, then only stabilise when gold rises, but then falls again... so if intraday gold end to end is flat, CEY falls...
The last time CEY was at this price, ~103, gold was @~1740(yep, about 140 less than now)- this why I always debunk the "if gold is "x", and CEY mine "y oz", based on the costs of "n" the SP will be "z"---- things just NEVER work this way.
MasterRSi just interested, what is your chart indicating now?
The IMF announced an ambitious reform programme for Egypt’s economy, but analysts cast doubt on its effectiveness.
https://www.aljazeera.com/news/2023/1/18/as-economic-crisis-deepens-will-egypt-slow-megaprojects-down
Strangely enough there is an article in Enterprise Egypt , El Sissi the President is putting more Miltary ASukarisset up for privatiseation.
That no doubt includes Shalateem mining .
With concessions adjacent and to the north of Sukari.As well as the Phosphate mine on the Sudan Border.
A couple of interesting articles in the Economist last week about the state of the Egyptian economy, how it’s pound has performed so badly and how the Army has their fingers in all pieces of the pie stifling private enterprise. I don’t know how much this affects CEY or how negative it is with regard a takeover. It didn’t make very good reading.
Mr T- one of the key drivers for any m&a is to able at a minimum do the same for less- so they would have a lower aisc of this element on any takeover
Burkina Faso has allegedly made an agreement with Russia's Wagner Group in which the mercenary outfit will help the West African country deal with surging jihadi violence in exchange for a mine.
https://www.abc.net.au/news/2022-12-16/wagner-group-allegedly-in-deal-with-burkina-faso/101780006
https://www.unodc.org/documents/justice-and-prison-reform/Child-Victims/Handbook_on_Children_Recruited_and_Exploited_by_Terrorist_and_Violent_Extremist_Groups_the_Role_of_the_Justice_System.E.pdf
https://www.bbc.co.uk/news/world-africa-55147863
https://www.europarl.europa.eu/RegData/etudes/BRIE/2021/698048/EPRS_BRI(2021)698048_EN.pdf
2 Chatham House
Summary
— Rather than the ideology of global jihad, the driving force behind the emergence
and resilience of non-state armed groups in the Sahel is a combination of weak
states, corruption and the brutal repression of dissent, embodied in dysfunctional
military forces.
https://www.chathamhouse.org/sites/default/files/2021-03/2021-03-02-response-jihadist-groups-sahel-perouse-de-montclos.pdf
HI Master,
Thank you for your explanation, I'm afraid that my patience with Centamin has worn rather thin!
mrtibbles
Patience is a virtue that you are losing at the moment
104.85p -0.50p
Despite the Gold price moving higher the share price in the chart looks like wants to do a good flat bottom before moving better
Anyway, the stock for the last month never had more than 2 days up, 2 day down as a routine it seems.
The order book is behaving badly some would say on these funny movements
chart with comment... https://uk.advfn.com/p.php?pid=chartscreenshot&u=GgjBzecGu8084pcSzq44FtwOcpAXCD2WwyEcXZ8fhRo=
Now why is that?
I would trust the last regime like a rattle snake at a lucky dip and its worth noting that some of the BOD are still in post who watched the seagulls around Jersey whilst Pardey and Youssef carpetbagged the Sukari mine!
Martin Hogan is no doubt a competent professional and slick presenter, he could sell ice to Eskimo's ,but he is also employed on an excellent remuneration package by the BOD who re trying to keep their heads down and deny a past that they were to a great extent responsible for!
So I remain suspicious and cautious, until I see some quantifiable evidence of what hs been achieved is increased and sustainable produced, reduced AISC, increased share price and the dividend restored to at least its former value!
"Once bitten, twice shy", how many times have Centamin shareholders been bitten on the ar(se in the past!
As far as I am aware, he has'nt.
But B2 are looking at potential M&A and with Centmin buggered by AISC and in the bottom of the bargain bucket who knows?
It does'nt do any harm to remand people of pain and the awful atrocities that are being carried out in BF!
The monthly and 3 monthly charts have the shares broadly moving up and down together. AAZ diverged after a good RNS but came back into line with CEY. Someone asked how they compare a few days back. AAZ is to be a copper growth mining stock that happens to continue mining gold as well. Another good divi paying stock and that is probably why they are getting bagged together.
Yes Tornado, as every 1% rise or fall in gold translated to between 3 and 4 times percentage change in profit, so 4% gold drop from recent top should equate to around 15% fall in share price or near 20p drop in Cey which we have seen, so in my view the pull back is due to gold fall not a hopeless company, and if/when gold rises we should be geared to that. Some on this board were overcomplimetary in the last decade and over critical now, gett8ng it wrong in my view both times. Cey remains my biggest holding not because I believe this management is better but that there is a lot of gold to be mined and the costs are not absurd, even if Horgan heavily front loaded it, cause for further hope imho
Equities in Europe traded higher in the premarket ahead of the newest update on inflation in Germany. Earlier, Credit Agricole SA, Credit Suisse Group AG, Siemens AG, and ArcelorMittal SA all posted their fourth-quarter earnings results, with AstraZeneca PLC and Unilever PLC's reports coming up later.
The DAX went up by 0.31% at 8:00 am CET. At the same time, the FTSE 100 grew by 0.19%. The CAC 40 increased by 0.16%. The Euro Stoxx 50 gained 0.50%.
The euro advanced by 0.23% against the dollar at 7:58 am CET to sell for $1.07379. A minute later, the pound sterling rose by 0.26% to change hands for $1.20987.
Baha Breaking News (BBN) / JR
Ha Ha.
Comical, thank you.
Feb 7, 2023
TORONTO listed B2Gold is looking for new takeover targets and expects to do a deal fairly soon, said the firm’s CEO Clive Johnson
“There’s lot of opportunities for us to do friendly takeovers as we have done all along in our history. Let’s watch this space for the next three months or so,” he said in an interview with Miningmx on the sidelines of the Mining Indaba conference.
Johnson said he was “excited” about “a few potential opportunities” such as single asset companies that investors are unconvinced will be able to finance their projects on “reasonable terms”, especially in an inflationary environment, he said.
https://www.miningmx.com/news/gold/52052-b2gold-ceo-says-firm-is-close-to-next-deal-after-targeting-single-asset-companies/
Note: Only B2Gold & Barrick have Egyptian concessions (among the majors that is)
Disclaimer : a supposition statement
We all know that ,but thanks .
007
please also point out every time another LSE comment is made where somebody predicts the price of gold up or down, the strength of Centamin's share price rising or falling and basically every other financial comment that can be made - as mere supposition - see how well that is received. Best, Q