Gordon Stein, CFO of CleanTech Lithium, explains why CTL acquired the 23 Laguna Verde licenses. Watch the video here.
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It is all about gold assumptions made by Berenberg. I suspect they are using $1900 gold price average for the entire year with a peak at some point at $2100 and top end of AISC at $1375 an ounce on 460,000 ounces will hit the Berenberg ceiling price. At 112p the model assumes that ceiling is hit with gold t $1800 gold price average for the year and all other factors stay the same.
Centamin remains unhedged. - That answers one outstanding question.
Berenberg raises Centamin price target to 141 (123) pence - 'buy'
3Bear Can’t sell old vehicles clause is wired up!
Look on the bright the government paid £600. Into my bank account this morning as part of its energy support scheme.
Most of the time I am hoping that Berenberg gets it wrong. But today's 141 forecast suits me fine.....:)
So it would appear the Capital Drilling contract is good value after all. To do it in house Cey would have had to buy trucks and excavators with an 8 year lifespan for a 3-4 year job. Then with nothing for the machines to do they would have been handed to EMRA because the terms of the concession prevent Centamin from selling them on.
Initially negative. - Let's see what unfolds. - Quick skim read - 2022, on the face of it, cash-reserves have melted away, have had to borrow for the first time in yonks- Negative cash-flow for the year. Paying dividends out of borrowed money not a good look, so I suspect dividends will/may be seriously impacted due to this. -.Agree with Sotolo - Much depends on the gold-price going forward now.- Essential for good Q1 2023 results to steady the ship. Poor Q1 results and the snake will put in an appearance I feel.
oufc the last question of the webcast was about why they contracted out the waste stripping and how long it has to go - I think he said 18 months to 2 years?
Other similar companies also down today
It is all about the reserves and resources. With the arrival of the solar farm, has it made reserves more economic to mine out. Can that $2,000 an ounce price tag be reduced to $1800. If it can then increase in resources can go into increasing the enterprise value.
I will go back into Centamin if it retreats during February. Although the 92% I sold is now in a savings account, I have cash in reserve in the portfolio to earn a new investment result. I just need them to get rid of that one red flag.
Do we know when the accelerated waste stripping will be completed?
Stitching live
Yep the reality is kicking in, Centamin is looking good but is going to remain a high-cost producer for a while yet.
On mid-guidance for 2023 they're expecting to spend another $600m+ getting the gold out of the ground this year.
So output should be back to 2020 this year, around 465k ounces, but costs are $300 higher an ounce. Gold averaged $1766 in 2020 so to put it all together and if gold were to average $2066 this year we would be back to 2020 profitability. If it averages the same as the last 4 years a fairly consistent $1766-$1794, then profits about 40% lower than 2020, explains the share price of around 120 till/if gold rises further (or falls) imho
AISC :-(.
No uplift at the open but maybe later when the company presents.
Centamin should have an uplift at the open. Gold recovery held up. Solar plant delivering savings and keeping AISC lower. Guarantees 6% plus improvement plus 5% growth. Gives a price floor around 104p instead of 78p in 2022 in my opinion. Uncertain where the ceiling is but currently 125p.
Looks steady and as expected, including aisc for 2023 now up to 1250-1400. Still as expected is great for Centamin
Looks good, UP we go!!
https://www.lse.co.uk/rns/CEY/quarterly-report-3oi6jypll9r652h.html
Equities in Europe traded mostly lower in the premarket on Thursday ahead of the release of the minutes from the European Central Bank's (ECB) latest meeting on monetary policy and the newest sessions at the World Economic Forum (WEF). Thursday at Davos will be marked by mostly economic topics led by the leaders of the ECB, International Monetary Fund (IMF), and World Trade Organization (WTO).
The DAX traded 0.55% lower at 8:00 am CET. At the same time, the CAC 40 fell by 0.68%. The Euro Stoxx 50 dropped by 0.86%. Meanwhile, the FTSE 100 stood flat
The euro stood flat against the dollar at 8:01 am CET to sell for $1.07908. At that minute, the pound sterling lost 0.09% to the greenback to go for $1.23273.
Baha Breaking News (BBN) / JR
Good luck today y’al
2022 was the first year ever that Sovereign Wealth Funds (SWFs) shrank in value. The scale of the drop is debatable as most SWFs report with significant delays, if at all – but Global SWF estimates the impact totaled US$ 1 trillion. Similarly, Public Pension Funds (PPFs) have reduced their assets by US$ 1.3 trillion, with the subsequent worsening of funding ratios.
https://globalswf.com/reports/2023annual
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Lots of charts and data, some ideas for investing in 2023/trends too
But if Centamin reiterate their 2023 guidance of 450-475k ounces at an AISC of $975 - 1200 maybe I'll get religious.
Sadly I think they led us astray in their forecasting...
Hi Mr Bond,
The mistake was to ever go in there and spend so much money
Conflict in Burkina Faso has forced nearly two million people to flee their homes (
https://www.bbc.co.uk/news/world-africa-64285344
The army in Burkina Faso has called on companies to provide for free lorries and drivers to transport food and other essential items to volatile areas.
Militant groups have been blockading parts of the country and frequently target military convoys delivering supplies.
Last week about 50 women were kidnapped by suspected jihadists while foraging in the north of the country.
An airlift is under way to take food to the area.
Burkina Faso's military leader, Capt Ibrahim Traoré, said the Islamists had entered another phase, focusing their attacks on civilians.
https://www.bbc.co.uk/news/topics/ce1qrvlelrrt/burkina-faso
What's behind the coup, in Burkina as in Mali, Guinea and elsewhere in Africa where such things seem to be endemic, is an under-developed political culture on the citizens' side ; armies and governments that are led by people who do not understand the value of legal-based political frameworks. As a result, corruption is far more reaching than even so-called experts are aware of, and this corruption like a sociological infection, undermines all attempts at nation-building.
https://www.youtube.com/watch?v=TCzvyTSslKk
Of course if Barrick/Bristow ,and others are not interested ,it shows ,as I expected. That Centamin were right to not mine it ,or put more money in.
It was previous management that spent so much ,and as the previous CEO found his niche in a subsidury of Barrick ,that tells a lot.
https://www.kitco.com/news/2023-01-18/Davos-2023-Egypt-sees-high-demand-from-investors-after-currency-drop-minister.html
We shall see if there is high demand tomorrow.