George Frangeskides, Chairman at ALBA, explains why the Pilbara Lithium option ‘was too good to miss’. Watch the video here.
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Major European markets traded higher on Tuesday premarket amid the release of new economic data and with all eyes on inflation.
Today, market participants are receiving the latest unemployment figure for the UK as well as reports on economic sentiment and CPI in Germany. In addition, investors will be looking ahead to the release of the latest US inflation data.
The DAX gained 0.20% at 8:01 am CET, while the CAC 40 added 0.39%, and the FTSE 100 was flat.
The euro improved by 0.13% against the dollar at 8:00 am CET, selling for $1.05499. The British pound grew by 0.15% to go for $1.22889 simultaneously.
Baha Breaking News (BBN) / JG
You do not have a knowledge of gold mining
What is even more interesting the maximum depth of 3 D . Compared to drilling.
Yes drilling seems expensive,but in the end gives ore samples from whatever depth you wish to investigate.
Open pit ,being far different than deep mine.
for those that do not understand drilling ,it can be complex, not verticle ,but at an angle to find more and the spacings of the loade.
Drill more if it looks promising.
The early core samples at Sukari are geological specimens,worth far more than the gold ore in them.
Take a look at Centamin website.
For the few that are interested.
be very interesting. Given they sample os little of the orebody, and the orebodyies are so in****genous in 3d, one does wonder how they ever think they are gonig to get lcose without getting a lot closer drill sapcing, which costs too much, and delays the whole process.
regards
the gnome
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European stocks declined in Monday's premarket trading as investors awaited a string of economic data from the United Kingdom and anticipated the United States Federal Reserve meeting scheduled for later this week.
The FTSE 100 lost 0.30% at 7:31 am CET, the DAX fell 0.53% and the CAC 40 was down 0.43% at the same time.
The euro decreased 0.15% compared to the dollar to sell for 1.05138 at 7:32 am CET and the pound declined 0.27% against the greenback to go for 1.22235 at the same time.
Baha Breaking News (BBN) / NP
Happy Monday y’al
Friday’s volume ratio was hot, that’s if you believe that sort of thing.
Vol. Sold 1,072,527
Sold Value £1,159,102.44
Vol. Bought 3,193,267
Bought Value £3,458,751.44
—————-
*Booster rockets primed Huston!
The evidence of inefficiency is more the lack of evidence for the necessity to engage in such a large waste movement program at the clear expense of short term production & profitability. We as shareholders have received no real justification for this and certainly no cost benefit analysis of the extent of the program.
In the absence of information I rely on my knowledge of long established gold mining practices one of the key ones being that you always try to exploit your resource to produce as much gold as possible as early as possible in order to generate maximum cash flows quickly.
The way the waste movement program has been executed flys in the face of efficient gold mining practices based on the information we have been given. As Cowichan notes this has lead to the enrichment of other parties at the expense of shareholders which is a very poor outcome.
At then end of the day, the quality of the Sukari resource will shine through & I am confident the share price will recover accordingly however the price we have paid in the short term in terms of reduced dividends and reduced capital access is something I do not appreciate & believe that the current management should be required to explain.
Bruce Lilford - Study-Project Manager at Centamin PLC
Jun 2021 - Present
My experience includes technical investor and shareholder interfacing, compiling exchange announcements and investor presentations. I am adept at negotiating contracts and am familiar with FIDIC and Australian contract law. I have successfully completed due diligences, studies and projects in Africa, Canada, Australia and the Asia Pacific regions.
https://www.linkedin.com/in/brucelilford/
-------------------------------------->>>>
Specifically M&A Q&As
re: Capital Drilling must be making 20% margin
Yes indeed - in 2021 their ROCE was 22.7% allowing then CEO Boyton to exceed expectations and double his remuneration for the year.
The question was/is - could Centamin have done the same job but much cheaper?
Obviously we know the answer to that question is yes. Switching to owner operator is cheaper and is one of the reasons Centamin did so underground, replacing Barminco.
As far as cost of capital - Centamin's market cap is 7x that of Capital Drilling therefore have much more clout fiscally speaking. Leasing/financing the haul trucks would be equal or lower to anything Capital could negotiate , esp since Centamin has the relationships in place with Mantrac Egypt already.
As far as urgency, no reason Capital could do it faster. They hired Egyptians, many who already worked for Centamin in the past and were trained on site at Sukari previously.
Think about it - the Capital Drilling waste moving contract cost its CEO and now CFO their jobs.
https://www.capdrill.com/media/investors/Announcements/CAPD_CFO-Announcement-RNS_Website_FINAL_20222201.pdf
https://www.linkedin.com/in/gileseverist/
The nontendered, sweetheart deal made a few individuals some extra money off the books to start - and a boatload of money since.
Centamin shareholders will have overpaid to move the waste by the tune of $ 65 million when it's all said and done. Profit that wrongly went to Capital shareholders which should have stayed with Centamin shareholders.
Good work thinking for yourself 3bear - too many Centamin shareholders are afraid to do the same.
FY23 guidance is key. IF there's a strong production forecast with MASSIVE drop in AISC for 2023 we will have lift off.
Spoonington Sotolo - where is the evidence that waste management has been inefficient? It seems to me that efficiency is one thing horgan is red hot on - from the size of the excavator buckets to grid connection and almost every single point in between. I've only been a shareholder since Apr 21 so bow to your more than two decades experience. But...it seems to me the last lot focused on delivery of 500oz/pa to the exclusion of all else until the pit literally fell in on top of them? The contractor must be making a 20% margin on clearing the waste but what were the alternatives - buy a fleet of trucks and excavators and do it in house? Max cap ex up front to do it that way?
email A while back when the SP hit the £2 mark Centamin announced that there was an unstable mine face that could if not rectified cause a slip which is obviously a safety issue and could result in thousands of tonnes of material slipping into the pit. This resulted in the mine not being able to extract the higher 2 grammes a tonne ore and having to mine low grade ores because at that time they were limited by the number of open faces. Hence a crashing of the SP and to alleviate the issue in the future a major waste removal exercise to provide flexibility and the ability to mine numerous faces. So as you can see a great deal of investors got burned and many of us are still waiting for the confidence to return.
So the earth moved and the SP fell dramatically and the costs went through the roof because of the waste removal exercise.
It really means little but nice to have you participating Siko, hope you are keeping well :)
14th Jan 2023.. If the SCC decides that law 32 is constitutional.. which means the end of Centamin court case.. that could have a positive effect on the sp..
My being correct in my opinions actually pains me every day Sotolo, but thank you for your support :)
DASUT, thanks for your considerate appraisal... Sorry for being thick as two planks, but what do you mean with "when the earth moved..." Was there a earthquake ? or is a metaphor for a financial disaster?... I have no clue because I missed keeping pace with CEY
Spoonington you are not a flat earthier but sadly read it utterly right.
email, to "Soar" unfortunately will be more than one event. A gold price climbing through 1900 would help. End of the costly wate contract. Positive year end report with annual ounces closer to high end than mid range forecast and AISC lower than forecast. Under pinned by positive geology/exploration results from all resources extending the life of mine. Positive finding in favour of Centamin in court case, 500,000 + ounces forecast for 2023 followed up by an excellent 1st quarter. All important is to regain confidence in the market because a lot of people got burned when the "earth moved".
Which could be in your opinion the next event to make the sp soar?
No I would not agree Mr Bond, I do not believe in supporting inefficiency but that is just me, I tend to believe in common sense rather than fanciful idiocies.
As for previous management I cite gold mined & sold, dividends paid & cash reserves accumulated as evidence of what they accomplished. As I said, in my opinion they overcooked the goose & let fanciful ideas overtake common sense which lead to problems but they accomplished far more than the current management team has.
The only reason the current management team has been able to get away with ludicrous inefficiency is that they inherited a very strong balance sheet from the previous management.
If you want to enter into a rational debate I suggest you may want to develop some sort of rational arguments to back up your position.
Otherwise you can simply remain as a pointless troll, either way I am still going to have a little giggle at your expense so thank you for that :)
Aggghrr! I, of course, meant PPI data lol
"Traders are eyeing the upcoming US PPI data that is due for release later today, which will provide important clues to the inflation trajectory ahead of the November CPI data next week in conjunction with the Fed’s last policy meeting in 2022"
+ .45% $1796.56
*As is the amount of aliases winding people up on this beautiful Friday morning.
European stock markets traded higher premarket on Friday as investors positively reacted to Chinese Premier Li Keqiang's promise that the country will keep easing COVID-19 curbs, opening up "at a high level." Traders in London also await the report on consumer inflation expectations in the United Kingdom due to be released later today.
The DAX was flat at 8:01 am CET, while the CAC 40 gained 0.19%. London's FTSE 100 increased by 0.22% at the same time.
The American currency slipped amid mounting recession fears ahead of next week's Fed meeting, sending the euro to trade 0.19% higher, to change hands for $1.05755, while the pound sterling gained 0.17% against the greenback, to sell at $1.22605 at 7:57 am CET.
Baha Breaking News (BBN) / MX
Happy Friday y’al
Enjoy your weekend