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Hi Quark3,
The majority of posts on here where information is to be shared include cut and paste detail, not that I can recall ever seeing any of your posts that ever contribute anything other than vitriol towards any member that you tale a dislike to.
So from you comments it seems that that that you feel any information that members come across possibly even regarding some development or occurrence that may affect Centamin is to be completely rewritten by each contributor.
I have copied and pasted links to a cross section of sources sources including an information paper from a UK cross party parliamentary committee regarding the increased threats to doing business in the region.
You may or may not realise it but many long term shareholders are aware it's all too easy to spend many millions of dollars (including shareholders potential returns) on drilling lots of holes for the sake of it on reserves of questionable or mediocre potential in areas where apolitical regime change and unrest or insurrection are such that abandonment of these projects at great loss is the only option
On what information that is available so far Doropo doesn't amount to a "Dripping roast" and most likely will turn out to be another potential money pit rather than a profitable gold mine.
It time to take off the rose coloured spectacle and face facts that the likelihood of Doropo turning out to be little more than yet another a expensive promise of sometime down the road the good times coming is very likely!
Far better to concentrate in Eygpt for the time being, there are more than enough new arras to develop with far less risk!
Wagner group or Fujitsu?
The positive surprise is what they find out near little Sukari and whether feedstock ore can be trucked to the main processing plant. It de-risks the Sukari operation.
As for the final report, I suspect we only get perhaps a 2p divi as they need cash for lots of drilling and converting resources into reserves.
Mr. Tibbles, you in a copy and paste frenzy today!
After carefully reading your posts I am convinced that the best place for you to invest is a post Office savings account. No danger there of the Wagner Group keeping you awake at night.
Tony agree with what you are saying but don't think it would have been necessary to high grade as to be honest don't see any high grades, more like divert some equipment away from waste where they were supposedly ahead of the game.
What I am hoping for although Tibbs won't agree is for Doropo and other prospects in Egypt to provide positive news and would also be good to hear that ABC is moving positively.
Hi mrtibbles,
Very serious allegations.
Where There's Smoke, There's Fire.
Tibbs From the reports and figures that I have read on the Centamin web site the Doropo resource is good and way better than many. If the initial investment can be recouped in 2 years I say it is a good prospect.
Tell me what numbers you don't like and not investing in Cote D'Ivoire is like not investing in Europe because of the conflict in Ukraine.
Wagner is in West Africa by invitation to protect against ECOWAS this is entirely political driven by The Kremlin.
As I say West Africa is well represented by large mining companies and comparing Africa mining costs means nothing comparing mines is where you need to look. Comparing East Africa, South Africa, West Africa and Central Africa will give you some differences. The importance is knowing your costs this tells you if the project is viable.
Could be Tony.
What's your view on full year out next week (21Mar)?
Q1 2024 not out 'til 28April.
https://www.centamin.com/investors/investor-calendar/
I believe Q3 and Q4 are likely to be very strong for Centamin. For quarter 1 there is advanced waste Sukari stripping and the same applies in Q2. I also suspect some high grading was done to hit target at the back end of last year to pull forward 10,000 ounces. The upshot is that production is likely to be on the lower end at 105,000 ounces mark and the AISC at the top of range nearer $1350 or $1375 where future quarters bring it back into range. I also suspect they may front load some sharing arrangements with the Egyptian Government to help with USD shortages. The company also has a big maintenance agenda in Q1 which happens every year.
Consequently the 106p price tag is probably priced in a modest Q1. If gold does pull back to 2050 we could see 96p area but I doubt it will slip further back as Q2 may be slightly better on production. The concern I have is that the cash pile does not grow much under Horgan. Maybe that will change during 2024.
Thanks Steve ,your final sentence, I would think not.
The anylist Decker refering to Centamin-"Get out while you can" , published Nov 20 ,2015.
What is your point Mr T?
To discourage anyone from investing in CEY and anywhere in Egypt and Africa?
Are you a shareholder here?
Pointless rubbish may be your opinion, some may beg to differ from you considering past experiences the Droop resource isn't t anything special and if loaded with the extra African costs this may turn out to be another loss of many millions of dollars spent pointlessly after the company decides to pull out because the project no longer fits in with their core criteria
https://www.nasdaq.com/articles/centamin-seeks-buyers-for-burkina-faso-project-posts-lower-profit-2021-08-05
https://minesactu.info/en/2023/09/04/konkera-mine-centamin-mining-company-hands-over-its-batie-ouest-site-to-the-state/
In my experience there is an extra cost working in African countries. The productivity there is lower than elsewhere. In discussions with a director of SRK I told him that I do not subscribe to many unit mining cost estimates used for African countries in the economic assessment in technical reports. He confirmed to me that a SRK study had come up with an average unit rate of US$3.5/t mined for Africa. This includes drilling and blasting. I estimate for free dig material this should be some US$1/t lower.
About Batie, it is non-core in my mind because the very low grade makes it unattractive given the risks associated with a project in Africa and a political high-risk country at that.
Doropo is better, but still not fantastic.
No wonder they downgraded Batie.
kind regards,
Kees Dekker
Mining Analyst
What a load of pointless rubbish.
Why invest in anything with this attitude to perceived risk- bonkers approach.
Hi Dasut,
I appreciate that you had considerable experience in the field, but that said no matter how good the mining companies intentions or the quality of their contracted security companies from the information provided by multi national governmental agencies it is apparent that mining companies if they want to do business are being required to take sides by providing funding to one or other of the factions involved in these conflicts in the ongoing conflicts .
The Wagner Group has used infrastructure of the Russian Armed Forces. Evidence suggests that Wagner has been used as a proxy by the Russian government, allowing it to have plausible deniability for military operations abroad, and hiding the true casualties of Russia's foreign interventions.
https://www.ecofinagency.com/public-management/3005-44577-burkina-faso-mining-operators-should-not-support-any-armed-actions-me-bourgeois
https://publications.parliament.uk/pa/cm5803/cmselect/cmfaff/167/report.html#heading-3
What should concern any Centamin shareholder is if Doropo is worth the investment considering the risks of it becoming unviable due to regional unrest and political corruption and instability .
You are throwing stones Tibbs into things you know nothing about. The Cote D'Ivoire armed forces are/were trained by private security. In Mozambique private ex military cleared mines and where do you think a mining company or other isolated organisations in the African bush employs their security? As I said in my previous comment most of the security is excellent and well organised and protect mine personnel and valuable assets. I am not saying that these forces are capable of fighting a group like Wagner although Executive Outcome were quite a force to be reckoned with. What I am saying is private security covers a very wide field of operation and are essential.
Are Wagner mercenaries or a private security organisation if they are controlled by The Kremlin?
Major European stock indexes traded mostly flat in the premarket session on Thursday as investors digested fresh reports on consumer prices in February from key economies such as Germany and the United States. During the day, Spain will release its confirmation for the CPI of the second month of the year while Switzerland and the US will reveal the update for producer prices, providing markets with more information on price developments across the industrial sector.
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Baha Breaking News (BBN) / AC
Gold currently $2168.51
Do you Mr Tibblechan ,even check the sources or fully comprehend the information of your many Cut and Pastes.
Hi Dasut, no decent company with any morals or social conscience should have any involvement and certainly not employ private mercenaries to protect it whilst exploiting the countries people and its natural resources .
I doubt any private security company employed by a gold miner could stand up to to outfits like the Wagner Group they would just take what their are instructed to by their Moscow controllers .
Really can't see the Kremlin being at all interested in listening to Martin Horgan and his team on Investor Meet , you may recall how Putin kicked the BP CEO 's out under threat of imprisonment and tore up the contract.
May as well forget gold mining in West African region for the foreseeable future, nowhere is safe and its is getting worse!
"Gained access to natural resources on preferential terms, to the detriment of the national economy. In Sudan, Wagner-linked gold mining companies have benefited from generous concessions.144 The network appears to have a “chokehold” over Libya’s natural resources and export facilities; consequently, “Libyan oil output has drastically decreased”.145"
https://publications.parliament.uk/pa/cm5803/cmselect/cmfaff/167/report.html#heading-3
https://www.aljazeera.com/features/2022/4/28/white-hands-the-rise-of-private-militaries-in-african-conflict
The prices of precious metals rose on Wednesday, with silver skyrocketing over 3% to reach its highest value since December 2023.
Despite inflation in the United States rising to 3.2% in February, the figure came in largely in line with market expectations. Investors seemingly remained hopeful that the Federal Reserve would start its monetary policy easing journey soon.
Silver soared 3.12% at 12:14 pm ET, selling at $24.89. A minute later, gold rose 0.60%, going for $2,171.34. At 12:15 pm ET, platinum jumped 1.51%, to $939.88, while palladium surged 4.01% to $1,051.76.
Baha Breaking News (BBN) / AY
Gold currently $2177.81
Private Security Companies are active throughout Africa, involved in protecting many different entities both Governmental and Private including Mines. Back in the day I met with Executive Outcomes in Sierra Leone and Uganda, there were other groups Canadian, South African, British also a group employing ex Gurkhas. As far as I am aware Wagner weren't active back then. Most were legitimate and reassuringly present others were infamous quite obviously with hidden agendas.
Resistance the last time around
Western area not eastern.
Burkino Faso has always had terrist groups infiltrating, from the Sahara. It still does, locals are captured and forced away for sale or blackmail as happned at Inata mine,where the son of the new owner was got back after more than a year,after a large ransom was paid.Not only that but shipments out af the mine were stolen along with anyone travelling in well protected convoys. these groups were descuibed as Isis ,but thety whatever the name purely mercenary pirates.That Inata mine was marginal,along with in an area of a long wet season, which virtually stopped most activity.
Finding them is pretty much impossible as they retreat into the Sahara .
Even though the abndoned prospect was considered un-economic to continue with ,that particular eastern area was not considered vulnerable to attacks. That and Cote De ivory ,prospects from previous management ,if not considered sufficient in the ground , looked at after a DFS the Bankable study simply have to match up to ,basicly do they finally meet the criteria for sufficient profitablity. A business model followed by all miners or companies.
Mecenaries of many different nationalities make up these groups, and for the highest bidder for their "services".
Thank you for the reply Gino,
Thank you for that, but although the original Wagner leaders been eliminated by Putin the Wagner group is now rebranded the Africa Corps under the direct control of the Kremlin and part of the mission is to enable the Kremlin to have control of the regions natural resources, including gold mines.
https://issafrica.org/iss-today/russias-africa-corps-more-than-old-wine-in-a-new-bottle
https://theconversation.com/wagner-group-is-now-africa-corps-what-this-means-for-russias-operations-on-the-continent-223253
https://foreignpolicy.com/2024/02/07/africa-corps-wagner-group-russia-africa-burkina-faso/
Centamin would be very brave or stupid to develop here!
Thank you Gino,
If you are trying to infer that the area is fee from insurgency and merceries the you are very wrong and Wagner group has been rebranded https://theconversation.com/wagner-group-is-now-africa-corps-what-this-means-for-russias-operations-on-the-continent-223253
On Jan. 24, Russia’s Africa Corps published the first images of a deployment to Burkina Faso on its Telegram channel. “A Russian contingent of 100 people will ensure the safety of the country’s leader, Ibrahim Traoré, and the Burkinabe people from terrorist attacks,” read a statement posted with the images. “In t
https://foreignpolicy.com/2024/02/07/africa-corps-wagner-group-russia-africa-burkina-faso/
Wagner Group has been replaced by a new entity known as Russia’s Africa Corps across its key strongholds in the continent, its new leader has confirmed.
The infamous mercenary organization’s founders, Yevgeny Prigozhin and Dmitry Utkin, were killed in a plane crash in August 2023, two months after leading Wagner fighters in a march on Moscow to attempt a mutiny against the country’s defense forces.