Centamin PLC Share Chat (CEY)

https://www.bullionstar.com/blogs/bullionstar/gold-shortages-price-of-physical-gold-decouples-from-paper-gold/
Thought this would be of interest.

I'm wondering if the stock-markets might be closed.
- My understanding is that UK is about to announce a widening of restrictions.

However have a dream about precious metals not able to make to market and restrictions in travel and we may in time see our precious metal miners come back to form quicker than many expect. Otherwise we may not have to dream about a Fed rate cut as Mr Trump is already starting his ramp up for Mr Powell to do the right thing next week.
I will not lose any sleep over all of this, ha.ha. ATB.

If you are old enough to remember. The tv. From long ago.

I.E. If all the borders in the World are being shut and as Airlines are restricted from Flying perhaps the export of Gold will become restricted and this will mean less availability on the market for sale and therefore the price will rise. It is not as if suddenly like Oil the market will become flooded with cheap Gold, as Gold is not transported in Tankers, perhaps it is more likely transported in the safe hold of Aircraft??? Those same aircraft that cannot fly??? This start of the virus fight is only just beginning in my opinion. As time goes on I am sure the price will rise with less supply of new Gold? Or the miners could themselves restricting the export to drive back up the price? Interesting different angle for you all to discuss?

Prof $1400 is not very far off, and may be under cautious not overly, but the cut in oil
price could knock $100 off our aisc. so at $1400 (as at $1500 without the oil cut) we would be making maybe $125,000 after profit share which at a PE of 12 would mean a fair price would be around 90, but it might be 80 to take account of the market or overshoot more. However asPierre points out with the last crash gold crashed and then came back with a vengeance. I continue to hold.

Mr Tibbles.
Wall St ,breakfast ,says it all!
What will Wall Street breakfast say on Monday is important ,to some.
Wall Street ,maybe.
The rest of the world no longer listen to hype.
But thanks any way for your time researching.
Wall Street has lost its credibility.

Stocks surged into the close Friday after President Trump declared a national emergency over the coronavirus pandemic, which will open up access to $50 billion for states and local areas affected by the outbreak. The president must have said the right things, because stocks soared into the close and recovered most of Thursday's huge losses, with all three major indexes jumping 9.3%. All 11 S&P industry groups gained, led by financials, which had plunged earlier in the week in the wake of falling interest rates. It was a hopeful end to a roller-coaster week in which the Dow plunged 10.4%, the S&P 500 sank 8.8% and the Nasdaq tumbled 8.2%.
Fears this week sent the benchmark 10-year Treasury yield below 0.4% for the first time ever, touching an all-time low of 0.3469%. In fact, yields on all maturities (including the 30-year and two-year) stumbled below 1%. Traders now expect the Fed to cut rates by 100 basis points at its March meeting, which would bring the Federal Funds target range to 0%-0.25%. On Thursday, the Fed announced over $1T in repo operations (on top of at least $175B in daily overnight transactions) to address the recent disruptions.
The failure of OPEC+ to agree on production cuts sent crude into freefall, plunging as low as $27 per barrel and marking its worst weekly decline since the financial crisis (it started the year in the mid-$60s). Besides a collapse in demand due to the coronavirus, Saudi Arabia launched an all-out oil price war by slashing pricing for its crude in an effort to push as many barrels into the market as possible. It was in response to a face slap from Russia, which refused to cut output further and insisted that U.S. shale producers should be made to share the pain.
All three major indexes plunged nearly 10% on Thursday, suffering their worst sessions since "Black Monday" in 1987. Besides suspending most travel from Europe to the U.S. for 30 days, President Trump announced efforts on deferred tax payments, payroll tax relief and low interest business loans, but investors seemed to have been looking for more. The Dow, S&P 500 and Nasdaq already had tough times earlier in the week after the WHO classified the coronavirus outbreak as a pandemic for the first time.
YouTube (GOOG, GOOGL) discontinued classifying COVID-19 content as a "sensitive event," enabling ads on some videos discussing coronavirus, according to CEO Susan Wojcicki. "It's becoming clear this issue is now an ongoing and important part of everyday conversation, and we want to make sure news organizations and creators can continue producing quality videos in a sustainable way," she said. YouTube previously did not allow monetization if a video includes more than "a passing mention" of the coronavirus.

Hi Tibbs,
Agreed but then a couple of weeks ago we didn't have a market melt down with people desperate for liquidity and realising assets for cash where ever they could. Once margin calls are out and people are once again wondering where to park their cash then I would expect gold to come good. I am also rather hoping that Pierre Lassonde may be overly cautious on the trajectory for gold down to $1400 and that we could move back up from here quite rapidly. I guess that will depend on whether next week sees more market panic which is a possibility.
Best wishes,
Prof

Only a couple of weeks ago gold was supposedly going to hit $1700!
Still at least it's not down to market manipulation, is it?

Razors,
Not a problem. Had to read your first post twice to see why you were even apologising in your second. Nothing to worry about.
Best wishes,
Prof

I agree entirely Rebess, that would be a sensible and morally right course of action that would help to underpin the financial and operational future stability of companies.
However the markets traders in general are devoid of morals and integrity and regard any crisis or disaster as an opportunity to to trade the indices up and down!
They are already doing it!

OMG Professor excuse my mistake full gratitude to you for your post.

Interesting Tiger, I only got listening to 1/2 before I had to go do something but a thought crossed my mind and that is it wouldn’t do any harm to have two or three positive recordings for when the market gets rough; sort of help me keep my senses about me.
Thanks for sharing I’ll listen to the rest later and probably the entirety again.

As I have said before, when I have posted KWN News interviews, I know that KWN can be sensationalist. The following however is a very good interview with Pierre Lassonde (among other things former President of Newmont Mining).
https://kingworldnews.com/pierre-lassonde-3-14-2020/
He does say he can see gold falling back to $1400 in the short term based on liquidity but both says he believes it will be temporary and reminds us that oil has halved and that given oil is c25% of the cash cost of producing gold then it is worth around $100 an oz. He also says gold companies are currently priced for gold at around $1,100.
I well recommend listening to it.
Best wishes,
Prof

Good idea Rebess.
No one should take advantage of such dramatic events.
But I am sure many would disagree.
That is the state of the wold now.

S. Korea, Italy ban short-selling in COVID-19 response

South Korea and Italy banned short-selling in response to the market selloff due to coronavirus COVID-19, authorities in both countries said in separate statements on Friday.

Italy said short-selling will be banned on March 13 as a result of the FTSE MIB's drop of almost 17% in the previous session. The ban will be applied to 85 Italian shares including Fiat Chrysler Automobiles, Intesa Sanpoalo and Eni, but Rome's stock exchange commission, CONSOB, did not specify if the ban would be prolonged.

Meanwhile, South Korea's short-selling ban which will be applied to 95 stocks will start as of March 16 and will last for six months after the short selling volume averaged $891.8 billion on the Korea Exchange on Friday.

Breaking the News / VP

This was released yesterday morning.

Many companies share-price now seriously exposed, becoming victims of virus circumstances through no fault of their own. - Perhaps the government should consider placing a moratorium on all hostile take-over bids to prevent unfair-predation. - Just a thought.

Yeah - googled the 7 day weather for Sukari - 20-26 degrees and nothing but sunshine!

Looking again at the final sentence ,he really meant to say
,not ,restraint, but Its necessary more Viagra for END and himself .They cant get it up.
Not a company anyone would be interested in being associated with

Its ok cey board are well aware
Of that you can be sure.

ENDEAVOUR Mining opened the door to more portfolio restructuring today, saying its 100,000 ounce per year Karma mine in Burkina Faso would not remain long in the group if it failed to improve its shareholder return.

Asked during the firm’s fourth quarter and full-year results presentation how long underperforming mines would be allowed to stay in the group, Sébastien de Montessus, the CEO of Endeavour Mining said: “The answer is: not long.

“Mine life has been another risk but we will deal with that as we get mine lives to 10 years whilst merger and acquisition (M&A) risk is another (share overhang) although we have shown discipline with Centamin,” he said.

Endeavour said in December it had twice suggested an all-share merger with Centamin, which mines in Egypt – only for the invitations to be rebuffed by the UK-headquartered company. Endeavour decided it would not pursue a hostile takeover which De Montessus said was indicative of its restraint.

https://www.miningmx.com/news/gold/40612-endeavour-opens-doors-to-karma-sale-as-de-montessus-declares-firm-shrugging-its-impediments/

What a wonderful opportunity for the Centamin board to buy in with their additional spare cash. The release of funds from Central banks has now doubt caused a sale of Gold to raise funds in exchange for printing the notes. However the market seems to forget as with any Virus this thing will be gone quicker than it arrives and no doubt the injection of funds will be taken back out of the system when we have our friend "inflation come to the party". So as Mr Bond has said I will wait and take the divis to pay a few bills and we will be back!! In fact we could be back far sooner if Mr Powell cuts as the market is telling him to do. This is what my Pension provider Prudential tell me is a blip -thats all.

Many thanks, Mr. Tibbles.
That's one less thing to worry about this weekend!

Yes I know I wrote that. And it Is still true. I am buying at lower prices. I did sell might higher. At the moment I am buying shares at each 10p Drop. Started from 120p so im not too concerned. I will carry on until it turns or the story changes. I been in and out of Cey for years so I know how low they can go. I also said in another post That I hope we are not below a pound before the next bid comes in. Lets hope the update will be good and they put the cash to good use.