Roundtable Discussion; The Future of Mineral Sands. Watch the video here.
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It was $2,000 on resources for 2022-2032 just to be accurate.
Some brilliant questions asked and very good answers from Centamin.
Thank you for putting in my reserve and resources question. So we know that reserves are economically priced at $1450 an ounce and that $2,000 per ounce is a median figure of the expected gold price between 2022-2032. So the red flag issue is removed as we now understand how Centamin derive that figure.
What I am pleased about is that my pulling out of Centamin really encouraged them to have the emphasis on that QA session. I hope the company got a lot out of it and we understand more about the thinking they are doing and confusion is removed by the limitations of RNS communications.
I now hope the opportunity arises for me to re-enter Centamin at a future date, but if it does not happen I wish everyone all the very best. Tony
1925 broken now TornadoTony l, gold at ~1929 as I type
MrBond46 thanks but I was somewhat surprised that we didn't see an increase in the SP especially given the strong GP but there again I suppose that is what we have become used to. Certainly agree no news seems to be good news.
RazorsEdge and Dasut ,its good to see some reasoned responses from you.
I get sick of reading un-supported ,dramatic criticism, from some posters.
The SP had a good run upwards ,possibly too quickly,now it is balancing out.
Todays SP is not surprising , most good news possibilities are already priced in .
With Centamin no news seems to be best.
Dasut, I totally agree.
Thank you for your comment.
The price of gold increased on Thursday amid a bleak economic backdrop. The most recent disappointing data on the United States retail sales, industrial production and housing starts could have raised an appetite for the yellow metal, which has acted as a safe haven against recession scares throughout history.
Recession fears might have been rekindled by comments coming from the Federal Reserve officials, who noted that the terminal rate will still have to be above 5% and be kept at that level "for some time."
Gold gained 1% to go for $1,922.55 per ounce at 10:34 am ET. Silver added 0.80%, selling at $23.65 per ounce simultaneously. On the other hand, platinum fell 1.35% to $1,027.62 per ounce at 10:35 am ET, and palladium plunged 3.03% to $1,689.27 per ounce concurrently.
Baha Breaking News (BBN) / AY
Tibbs not sure I agree as Horgan answered all of Cowichan's questions and more than adequately covered my question for reasoning behind and justification of the waste contract.
Personally believe the retail event is an excellent development and gives me more confidence in the new team and in particular there is far more in depth natural responses to questions.
OK there will always be the question that can't be answered for proprietary reasons but this is the same in any business.
All in all I feel more relaxed and impressed with what has been achieved by the new team, albeit somewhat disappointed with the 4th quarter ounces.
It looks as though the efficiencies of the underground owner mining fleet is yet to get up to speed and this is what has reduced the 4th quarter ounces.
They are upfront telling us that 1st quarter numbers will fall short because of planned maintenance at the processing plant and yet again we will see a back end recovery.
A more than satisfactory year end report but we will continue to see the SP rely on the GP for some time to come.
I do however feel the market is gradually gaining confidence in the continuity.
After London close they have edged gold and the ETFs up a bit. I suspect $1925 for gold is not going to break.
Hopefully get one more nice pull back in Gold and Silver to add to existing positions.
Also have 3 x Leveraged play on silver (that's not for widows and orphans)
Now starting to fall.
Gold has rallied to push centamin up 5p. It has just failed to break the resistance line in the 1925 area. If it heads back to 1901 support, Centamin may follow it down.
Agreed Razor's,
Retail event is subject to initial question scrutiny and censorship by the company so unfortunately it's not possible to get answers to any questions that are deemed too awkward!
Took opportunity to take some more GDJX / GJGB earlier.
The 1pm call was advertised online and guess also sweeps up the interest from the US market
Also, have mentioned on here previously how there has been a definite trend on the daily charts of PoG making some nice progress into and through the US opening bell.
Traders start to latch onto these patterns.
Portfoliopower if I may this wasn’t made clear, that there was going to be a separate cc. I guess one could say that it was but because it is new Martin Horgan could have taken a minute in this morning’s conference call to say that the retail cc would be actioned at 1pm.
Anyway to be honest I’m a bit numb probably because of the weak share price reaction to today’s market report.
Here’s a link to the recorded retail cc from 1pm.
https://presentations.investormeetcompany.com/investor-meet-company/CENTAMIN-PLC-Q4-2022-Investor-Presentation?bmid=0f5298f497a4
Bit sluggish breaking 115 but volume is back.
Looking positive now post the earnings call
If I'm calculating right, a 15% fall-off in production between Q3 and Q4 was a surprise, especially as forecast was weighted to H2 . - That was a bit of a shocker. - Again forecast for 23 weighted towards back-end of year. - I wondered what happened?
https://twitter.com/centaminplc/status/1616040871924752384?s=61&t=5xbRHTVmIZAte04FRzXkqw
The only way is UP Now!
Still optimistic for a daily retrace here.
No idea about the drop, but those X2 £4m trades should take it back up the chart.
Looks as if the SP spiked to around 116 a little while ago - and straight down again - what was that all about?
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.