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Hi Spot,
Siko is keeping a close eye on both outstanding issues of Law 32 & the court case and will keep us informed as soon as any news is available.
Either the ratification of Law 32 or the a ruling in favour court in favour of EMRA & Centamin must at the very least be a great confidence booster and so surely have a positive effect on the share price.
If you recall until the court case is resolved some brokers "Westhouse Securities " for instance have discounted the share price by up to 20% in some instances.
.
Coldspy thanks for the tip I have had a look albeit early days looks quite interesting. Back in the day I have visited both locations or rather should say areas. I travelled From Kampala by Road through border crossing into Kenya, over night in Kisumu and visited a prospective mine on the northern shore of Lake Victoria. Then travelled south to Mwanza and enroute called into talk to another camp with geologists looking in the Kilmapesa area, before crossing into Tanzania signing the "visitors book" yes that was all I had to do to cross the border. Then on to North Mara then just a group of geologists working on what eventually became a mine owned by Barrick. Stayed in a safari lodge before taking a drive down to Mwanza where I would base myself at the Tilapia Hotel for visits to the now mines at Geita, Bulyanhulu, Golden Pride and the then long established Williamson Diamonds. In the Nyakafuru area I remember meeting an Australian geologist living in a tent with his Cat generator to run his little operation and the all important fridge to keep his beer cold. I am talking many years ago mid 1990's.
Yes sir Mr Tibbles
Is this the company?
https://caracalgold.com/investors/investment-case/
With gold flying it's the juniors that go on to outperform on an extended bull run.
CEY is likely to do well however it won't 2 x 3 x 4 x over the next year.
GCAT is a producer that's worth putting 10-20% of your gold exposure in . Fully funded with 100% owned mine, own rigs and processing, own lab for testing, etc.
£30m+ spent on mine, $13.5m non dilutive financing secured December.
Expansion of production under way.
Market cap £15m
0.8p to buy currently.
Broker target for year end 4.2p
I think you mean trading higher not lower- not checked all but Hang Seng, Nikkei, Crypt, FTSE, and S and P futures and gold all higher
i think you mean trading higher not lower- not checked all by hang senf, nikkei, crypto, ftse and a and p futures and gold all higher
Shares in Europe traded lower in the premarket on Monday ahead of the important data on the unemployment rate and investor confidence in the Eurozone, as well as industrial production in Germany.
The DAX went up by 0.25% at 8:00 am CET. At the same time, the FTSE 100 rose by 0.31%. The CAC 40 gained 0.48%. The European Stoxx 50 advanced by 0.58%.
The euro grew by 0.34% against the dollar at 7:58 am CET to sell for $1.06824. At that minute, the pound sterling increased by 0.43% against the greenback to change hands for $1.21468.
Baha Breaking News (BBN) / JR
Happy Monday y’al
Gold currently + .57% $1878.01
Hi Paul,
I agree with you, unfortunately in the past all too often after media had published an upbeat article there was yet another "Unforeseen grade deterioration or operational mishap" which immediately undermined confidence in the comapny and knocked back the share price.
However from the information available it seems the big difference now is that the Sukari operation is being run properly with achievable and realistic targets for the long term as the priority.
Lets hope this time things really are different!
Keep Well
Tibbs
Spot , as you rightly say, a possible ruling. They are not noted for being quick.
But that ,I do not think will change anything.
As for a predator after a M/A , after Endevours embarassing attempt ,I think unlikely .
The LTH ,not traders ,enjoy the benefit of a good return through the continued Dividends.
Which could be cancelled by others.
Those large investors ,not forgetting Sami did not choose a merger before.
On top of that EMRA have their say. That is equal to Government.
Neither would like to risk their credibility of allowing a new regime at Centamin.
IMVHO.
Don't forget 14th jan the SCC are possibly ruling on validity of law 32.
If passed this will end our court case but do we lose the sheald we've been inadvertently benefiting from ?
Are we then more vulnerable to unwanted buyers at this low a share price?
I suppose Mr T that by clearing the pile , that they are giving themselves room to work, and once it is clear it should just be a matter of keeping on top of it, like should have been done in the past.
I always get a funny feeling when the share is tipped in the papers as we sometimes get a fall soon after.
I remember about 5 1/2 years ago we were tipped around the high 170' then shortly fell to the 120's I think.
Im not getting any younger. We need things to carry on improving and hopefully quckly.
Quite so Cholly , at the risk of being accused of "Ramping" by some lets hope now the Sukari mining operation is being run properly this time it really is a case of "Onwards and upwards!" and thank you once again for posting!
Best
Tibbs
Hi Razor's,
I am informed that this latest Daily Mail coverage achieved by Buchanan, so credit where it is due!
The last time Centamin was tipped in this very influential column, the share price doubled over the next three months, although such a meteoric rise would be fantastic it is likely asking too much, bur even so the article can only stimulate interest and help the share price upward momentum!
Tibbs
Cholly, we aren't suffering overly cold as now live in the west country but very wet and windy, envious of your warm weather again great to hear from you stay safe.
Re de Montessus, the liquidity remains on the TSX rather than London for EDV, so likely the reason he traded on the TZX.
Burkina remains a very volatile and somewhat and a lawless part of West Africa which is very sad for the Burkinabis, although that might not be his reason for selling....he probably has had very few chances to sell in view of all the acquisitions they have made which has barred him from trading.
Although it will be interesting to see how those acquisitions bed down and how production goes, Endeavour have really been on a supermarket sweep and no doubt one or two of the mines are probably not as good as they may have first thought!
Cowichan I have no idea if $600 million is an awful lot of money in the context of Endeavours new mine as I have no idea what is included in the contract and also the duration of the contract.
What will the costs be at Doropo are we talking upfront costs, life of mine costs, cost per ounce, mining costs, costs per ounce, annual costs? Having not had the opportunity to discuss or see the mine plan any numbers would be pure supposition.
At the risk of being accused of "Ramping" by others this positive look forward was offered to me last week by someone with very close ties to the company.
"The message is getting through to the market after a few very tough years, there is light at the end of what feels like quite a long tunnel but, as explained by Martin the plan has always been to get Sukari producing c.500k Oz per annum consistently from 2024 onwards, and importantly at lower costs and now the main bulk of the capex is now behind us , the gold price being strong is a also good bonus!
Tibbs
Tibbs - no worries.
Dasut - thank you for your wishes, family all great thanks, mother currently visiting down under from blighty… enjoying some warm weather, hope you and yours are keeping well.
Let’s see what materialised on the 19th and beyond
Good to hear from you Cholly happy new year to you and your family I have recently struggled with posting and found if I hit the back arrow and then the forward arrow the post reappears.
Agree with your post and would say to Cowichan improvements to the bottom line by any mining company is a success given what is going on in the world and currently would rather not debate what is felt might happen.
Let's wait until the 19th to hear what the guys on the ground and the board say what their achievable goals and forecasts are for 2023.
We would all like to see more but we have seen in the past what happens when overly ambitious forecasts aren't met and consistency and market credibility must be the goal for 2023.
Hi Cholly,
Thank you for your most informative post!
Hi Dasut,
Thank you for the explanation,
I would have thought the analysts might have questioned the wall inclination angle, but there you go, so take your experienced opinion, just after the near collapse I asked an experienced mining analyst for their opinion, part of their response is below.
"About being able to see a pit wall collapse is imminent, yes it is often apparent before hand when listric faults become apparent at surface close to the pit wall.
I wrote “often”, but it may well have been totally sudden!".
"So It will be hard to prove otherwise if mine staff keep quiet about this"
Seems to confirm both your and Mar Bonds opinions.
Tibbs
Hi Razor's,
Happy New Year to you and thank you for all you haver done in supporting others!
Best
Tibbs
Happy new year all.
Holder since 2004, early days of military lands - challenges to explosive licenses - Aussie exploration drill contractors and mine staff evicted from site multiple times.. wrote a long post earlier which evaporated… so may not have the patient to rewrite…
Having met the el Raghy family a number times at site, Cairo and Alexandria I hold them in high regard.. exploring, permitting, building and establishing a Gold mine to produce in the region of 500k is No mean feat in any jurisdiction.. let alone Egypt and on such a time of political and social change
My 2023 outlook:
Positive - reducing AISC - full year of power mix utilising solar, acknowledging power mix required - mill etc, full year of optimised payload truck bodies, reducing waste to ore strip ratio, reallocation of additional fleet from pure muck shifting to regular mining and associated more normalised strip ratio’s, consistent leadership approach that so far have resisted the temptations of adrenaline shot type results.
Development of other Centamin Assets - PFS conclusions and ideally BFS completion supporting investment.. at a stretch maybe line of sight to construction or even commence early construction phase very late 2023, visibility of timelines for development of other mines in Egypt - bolstering the hard rock mining industry in Egypt, coupled with an in region refinery should all help ref Court Case etc.
Not so positive - if leadership changes or they are pressured into adrenaline shot results, acquisition at sub £2 in my view short changes everyone apart from the buyer, further geological incident, unplanned wall movements, UG challenges - this mining game is no an exact science and very easy to commentate from the armchair / side lines especially retrospectively…
I am going to post this- before it goes south again.. probably a problem in the seat - ha ha, apologies if I have errors or not wholly explained my view - all the best anyway… we don’t know we are alive unless we are on the edge…. And if we are not on the edge we are taking up too much space - said in jest and to raise a smile - Good Luck all 2023 in my view a very strong year for Centamin - and us
Dividends shine as gold stays strong
Centamin is another dividend paying gold miner. Based in Egypt, the company has grown from a cash-strapped exploration business in the 1990s to a fully-fledged, profitable producer today, generating more than 400,000 ounces of gold each year.
Midas recommended the shares in 2015, when the price was 62p.
Today, the stock is £1.26 and should deliver attractive rewards over the next few years.
Recent times have been hard for this business. Annual production exceeded 500,000 ounces in 2016 and 2017, but output fell as the company faced operational and production issues.
New management came in during 2020 and the group then embarked on a serious investment programme at both of its mines, open pit and underground. The shares, which had climbed to more than £2.30 in 2020, plummeted to below 80p last year amid concerns that the company would deliver little or no growth as the business regrouped under new boss Martin Horgan.
Today, the outlook seems much brighter. Horgan has a history of success in the gold mining industry, he has addressed investment challenges head on and the results should steadily improve over time.
The company is targeting sustained annual production of 500,000 ounces or more from 2024 and costs are expected to fall as big investment programmes come to an end and canny decisions make their mark, including the use of solar power to cut energy bills.
Even as Centamin has experienced operational turbulence, dividend payments have continued, with 5 cents expected for the year just ended, the same again forecast for 2023 and the chances of higher payouts thereafter.
MIDAS VERDICT: Investors who bought in 2015 have doubled their money and received a decent stream of dividends too. They may now choose to sell some stock and bank profits while the gold price is high. Long-term holders may prefer to keep the faith, however. Horgan is a shrewd operator, gold is a handy addition to any portfolio and this business should gain ground in the coming years, handing out dividends all the while.
Traded on: Main market Ticker: CEY Contact: centamin.com or 01534 828700.
https://www.dailymail.co.uk/money/investing/article-11609587/MIDAS-SHARE-TIPS-Caledonia-Mining-treasure-trail.html?ns_mchannel=rss&ns_campaign=1490&ito=1490