Centamin PLC Share Chat (CEY)

HI Tony
With RNS this morning put limit order of 10000 before open and got filled at 121.5. Same 10000 I sold yesterday at 118.82 so took the hit more than covered by the rise in my core CEY holdings. Hopefully we shall see a steady rise as the market assimilates the news and digests its content. I am very heartened by the following extracted from the RNS

"In line with ongoing organisational restructuring the General Manager of Sukari will report directly to the CEO, with Jeremy Langford resigning from his position as Chief Operating Officer to pursue other interests. The Board would like to thank Jeremy for his contribution and commitment and wishes him well in his future endeavours.

"These changes represent further steps in reshaping and strengthening the Company's leadership team, with a balance of core skills and experience best suited to deliver sustainable stakeholder returns. "

Clearing the decks already and showing a hands on approach so lacking from the previous incumbent.
Would like to hear further from the wise heads on this board as to their opinion of this new man.
Regrds

Isolated Bob

Just averaged a whole penny off so half way there.

Only 5000 at 121.6p. Oil and gold recovering a little. Only a quarter of what I wanted as could not get a quote and the spread was awful. Can average off later if it goes down. Have something to sell if the rebound continues. CEO arrival should be really positive and they only gave the guy 2-3p.

I particularly like the line "as we seek to build a multi asset gold producer ".
Here's hoping that we're starting a new and successful chapter.

Appointment of CEO


Centamin announces the appointment of Martin Horgan as Chief Executive Officer ("CEO") and Director of the Company, effective 6 April 2020.

Martin is a qualified mining engineer with 25-years' experience in multiple areas of the mining industry. In his career he has shown a strong strategic and operating acumen as well as demonstrating a longstanding commitment to environmental and social responsibility within mining, which is central to Centamin's decision-making and corporate strategy
Martin Horgan, CEO commented on his appointment: "I am excited to be given the opportunity to lead Centamin at this important stage in its development. The Sukari mine is a world class operation that will continue to underpin the future prospects of the Company, while at the same time pursuing the development of the growth options, as we seek to build a multi-asset gold producer. I am very much looking forward to working with the management team and the Board to deliver the full potential of the Company for all our shareholders, stakeholders and partners."

IMHO, this guy coming to increase the productivity of Centamin, inside Egypt and west Africa, with the new investments available to centamin.
GLTA,
Dan

I think this corona virus assault is just an excuse to distract people from the real problems of this world, the mortality & infection rate is insignificant compared to major virus infections, think of aids/hiv or if any of you are old enough to have experienced the 1918 Spanish flu you will understand what I mean, too much panic without sensible reason, keep hold of your cey shares, quality will ultimately shine :)

Equities on major European stock markets were slightly higher on Thursday during premarket trade as the coronavirus crisis continues. Media reported Germany would propose making a €200 billion European Union aid fund instead of issuing "corona bonds." Meanwhile, another report claimed the United Kingdom would modify its Coronavirus Business Interruption Loan Scheme.

The FTSE 100 was up 0.11% at 7:34 am CET. The DAX rose 0.18%.

The euro fell 0.13% against the dollar to $1.09496 at 7:33 am CET, while the pound rose 0.33% to $1.24056 at the same time.

Breaking the News / MD

Tony
Thank you for the explanation, I will pass it onto Kees.
I note that the ethical protocols are rather similar to those applied after the big battles in the past, although I agree that a palliative pathway is somewhat more preferable to a blow from a war mallet or a bullet through the brain!

Scarily close to the reality of how the government hoped to deal with a a crisis in the past
https://www.telegraph.co.uk/tv/0/britain-atomic-bomb-threads-terrifying-ever/
https://www.theguardian.com/film/2018/jun/08/threads-terrified-a-generation-now-nuclear-war-is-being-restaged-in-sheffield
https://www.theguardian.com/books/2019/oct/30/uk-was-primed-for-nuclear-war-in-the-uk-taras-young-interview
https://archive.org/details/TheWarGame_201405
Fortunately Covid-19 won't result in a nuclear winter,but never the less there are some very striking similarities in how the government policy hoped to keep the masses under control in the past and what is taking place now,
The people are in an open prison at present and under near Marshall law, that can only last for so long before they will want to see some improvement or positive results.
What happens if the people get frustrated and decide on mass to ignore the lock down restrictions?
The courts and police wont cope, the jails are already full?
The financial and market systems are on the verge of another major meltdown.
Once people start to realise they may well will have no job,vastly reduced income, the car will be repossessed, they can no longer afford their Smart phone and Sky TV?
Thousands of UK small businesses may well go to the wall.
What will the effect be on peoples future personal pension pots?

The government is hoping that he campaign of save the NHS will keep conceal their two decades of cuts woefully inadequate funding of the NHS services and keep the general public indoors until Covid-19 has peaked.
I am sure that we all hope that the lives lost will be minimal and the crisis will pass, but even if that is the case then things really do need to change, all the people affected deserve proper help from the government, rather than complicated and in reality empty promises, and the NHS needs proper funding with a complete overhaul so it can deliver fit for purpose services to everyone all of the time!

Oh yes and forget Brexiit, being part of a strong Europe will help ensure more plentiful supply of life's essentials with access to an open market that will help businesses and our economy to survive, possibly even prosper in the future!
Tibbs

Quite so Bob!
I agree about Bevin and as you rightly highlight the opposition and the trade unions have fallen into the trap of infighting over internal party trivia when they should have been uniting and challenging the government on it's flawed policies its continued failings to deliver fit for purpose public services!

As you also elude to there are no political leaders with the required charisma, passion, belief or even the fire in their belly to inspire, invigorate and unite their parties and the people in order to deal decisively and effectively with this present crisis!

In short if today's politicians were a meal then they would be described as bland!

A politician from the past who despite having personal faults, never the less also had charisma and the passion to unite and inspire and deserves to be remembered for delivering some great improvements to the lives of the ordinary people.
https://www.historic-uk.com/HistoryUK/HistoryofBritain/Lloyd-George/

Good to hear your thoughts on this Mr Bond, it's a great thing that this forum can continue to offer such support to its members during such a difficult period.
The game show host in number 10 and his bunch of clowns are only interested in covering their own and their parties incompetence aided by the unfit for post bureaucrats who issue the empty statements defending this ongoing catalogue of governmental and departmental failures to deliver a comprehensive and cohesive 21st century health service that is fit for purpose at all times!

I dare say he never actually paid for any of these shares, doesn't really send out the right massage to other share holders especially those who have put their hands in their pocket!

Barrick said today that, due to personal portfolio considerations, executive chairman John Thornton had sold 2,632,153 shares in the company during the permitted open period following the publication of its 2019 year-end results.

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My Thoughts: Hmmm...

Centamin has expertise in Egypt.
My vote is another mine or two in an area relatively secure .
That they have first hand knowledge
They are known by government,
Who knows.
A takeover is not to their benefit or long term holders.
In my opinion after this crash is over their will be far less cheap cash around for speculative takeovers.
I see in the near future interest rates rising dramatically,as in the 1980s.
But then what do I know in this now crazy world

Sorry totally off subject for this site,some will find it annoying.
Apologies.

After this is over.
Those who told lies
Should be held to account.
IE. Only 15 % of health care workers tested
According to government ,shortage of test devices.
That is not true.
Government sought to save money. So did not order more.
That is not short of criminal negligence.
Heads should roll.

As always the bureaucratic polit buros have a jobsworthy position to defend. We need an Ernest Bevin to be appointed to cut the c===p but unfortunately the Labour opposition have nobody up to this task and present Union leaders (as Bevin was)cannot turn off the ideologue when they should have the clout to cut through the red tape . Churchill admired Bevin and appointed him in the coalition Government as Minister of supply. In my book a hero as he took no prisoners and ruthlessly raised supply and production to a level needed to resist the Nazi threat. I am sick and tired of media fashion political celebs stating the problem re testing and Labour playing politics with the situation without offering solutions or leadership. Woe is me and its all the Governments fault. Disgusted.

Isolated Bob

https://uk.yahoo.com/news/coronavirus-testing-offers-064531366.html
Medical officials have ignored offers of help from some of the UK's leading scientific institutions to boost Britain's rate of coronavirus testing, it has been claimed.

Officials have repeatedly ignored offers from the likes of Oxford University and the renowned Francis Crick Institute involving hundreds of testing machines and trained personnel, according to the Daily Telegraph.

Nations including Germany, South Korea and Australia have already tested hundreds of thousands of their citizens – leaving Britain lagging behind
Government figures show that fewer than 10,000 tests per day are currently being carried out, compared with 70,000 per day in Germany.

The number of daily tests fell on Tuesday to 8,240, for a total of 143,186 tests since the end of February, the government said.

The Telegraph said senior health sources warned that the window for the UK to launch a successful mass community testing programme may already have been lost.

Latest coronavirus news, updates and advice
Live: Follow all the latest updates from the UK and around the world

Fact-checker: The number of COVID-19 cases in your local area

6 charts and maps that explain how coronavirus is spreading

Professor Matthew Freeman, head of Oxford's Dunn School of Pathology, one of Britain's leading disease research centres, told the paper his repeated offers to provide dozens of specialised machines and expert staff had been largely ignored by Public Health England (PHE).

He said his department had 119 of the crucial PCR machines, or thermal cyclers, used to identify tell-tale genetic signs of coronavirus, but that health officials had accepted only one.
Prof Freeman said some two weeks ago PHE had issued a request for "a very specific model" of PCR machine. His department had one, which was duly collected, but he added: "We have another 118 that can broadly do the same job, but they don't appear to be part of PHE's plans.”

Hundreds of specialist workers and trained graduate students were poised to help increase testing, he said, but despite initial signs of enthusiasm he had heard nothing more from PHE.

"We're clearly not doing as well as we could be doing as a nation when it comes to testing, and therefore people like us feel a bit frustrated," he told the paper.

The Francis Crick Institute, a world-leading biomedical research centre based in London, has given five PCR machines to PHE so far, but is understood to have dozens more.
A spokesman told the paper no firm word had come from PHE as to whether any further machines or expertise would be required.

"We have hundreds of scientists with different areas of expertise ready and willing to step in," the spokesman was quoted as saying.
The Telegraph said other institutions across Britain were understood to have had similar offers of help rejected by PHE.

PHE offered a defence of its response to the outbreak to the paper

'And that's given rise to another rumour - one that says Centamin will use the cash to acquire a company itself, bulking up in order to bolster its market value, to put itself out of reach of Sawiris, and anyone else for that matter....'

https://www.mining-journal.com/covid-19/opinion/1384016/amid-pestilence-rumours-of-m

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My Thoughts:
I have none. Please help me out people!

To Kees Dekker

Every hospital may have a different cohort of Covid-19 infected patients with varying age profiles and different underlying morbidity of other clinical issues not related directly to Covid-19. So the more frail the group is being treated the higher mortality when compared to another hospital that has a generally fitter younger group of patients being treated. As a consequence survival stats will have a significant range from say 25-90% mortality in ICU. The variance does however formulate ethical protocols as to who should be prioritised on the basis of best chance of recovery and giving a palliative pathway for those who would not benefit from the intervention.

There is one important issue that I have to mention which a virologist would be quick to point out. Normal influenza has incubation phase of 4 days and the infection rate to other persons is 1 to 1. The infection rate of Covid- 19 is double at 2 to 1 and the incubation time table can be high as 14 days. It is for this reason why we have lock downs to breakdown this transmission rate.

From Kees Dekker in Namibia

There is one statistic which is never quoted and which I cannot find anywhere on the internet: the survival rate of people treated in ICU, preferably broken down by age group. This is a hugely important statistic for the following reasons:

- it is generally reported that eventually more than 60% of the global population will get the virus, after which the pandemic shuts down purely on mathematical grounds as the infection rate is not sufficient to keep the spread of the virus.

- the reason behind all the social distancing measures is to lower the peak of infections so as to allow the medical system to cope with people needing hospitalisation. This is supposed to save lives.

- if, however, few people treated in ICU survive their ordeal, it means the world economic system is being destroyed for a very small number of man/woman years, given the age of people being saved.

When watching a reporter of Sky News in an ICU unit in Northern Italy it was mentioned that of all 26 people there only one was slowly recovering, all others had died, or expected to die. This may have been an aberration, but who knows?

I have written a few days ago to Sky News asking if they could provide the numbers, but never got a reply.

Kind regards,

Thanks Sotolo, do you not feel with so many income hungry investors that the volume might work in this environment or am I just having a flight of fancy.

Regards

Isolated Bob

isolated Bob, I sell in the afternoon before every divide ed day and buy back the next morning, to pay cgt on the divi; almost every time the price falls by considerably less than the divi, maybe in anticipation of reinvestire, so think I am going to give up

Sorry Tibbs, should say Non Exec Chairman stuff but without their gross fees and share options benefits.

Isolated Bob

Not least of all yourself Tibbs having the ability to assimilate all the informative post into a cohesive whole Non exec ly without their grosely Chairman of the board stuff but sadly without their grose fees and share options.

Cant quite make up my mind about China. Ruled by a Communist dictatorship with iron rule and unlike Western Democracies with the ability to vote to get rid of the likes of Trump or Brown , destined to govern as long as the elite party inner power brokers decide. On the other hand can a Country with 1.3 billion be governed in any other way. India seems to be doing it(just)
Put a 10,000 limit sell order in this morning at open at 117.75 and delighted to get filled at 118.82. Limit buy order in at 115.85 to accumulate my holding in CEY. As said here many times as no intent to crystallise my CEY holding but concentrating on the ex divi date in May. Major banks , Insurance Institutions, and others deferring their dividend payments and glad to say the gross and disgusting bankers bonuses. Again CEY will be a shining beacon in a market bereft of income.
Has anybody here managed to arbitrage the ex divi date with a sell order the following day. Usually a share will drop on the day following the ex divi date by the percentage roughly of the divi pay out. Would a limit sell order at open be filled before the market drops the share price that morning , allowing a buy back later at the lower price. Will try it as a mental exercise but the market not normally naive in these matters so not likely to suceed.

Kind regards to all and thanks Tony for sharing past career positions with us. Impressed.

Isolated Bob