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Phew
Rishi just got the job.
Rishi spin would be more apt
Interesting there is no Rishi bounce forecast.
Major European stock equities were above the flatline in the premarket session on Monday ahead of the release of economic data across the bloc and the United Kingdom.
Last week's survey on economic sentiment showed that both the Eurozone and the EU experienced a modest improvement in October.
Frankfurt's DAX increased by 0.65% at 7:16 am CET, while the CAC 40 gained 0.50%. At the same time, FTSE 100 was up 0.06%, recording modest gains ahead of the opening session.
The euro fell by 0.20% against the dollar, to change hands to $0.98438 at 7:20 am CET. Meanwhile, the pound sterling rose by 0.37% versus the American currency, selling at $1.13460.
Baha Breaking News (BBN) / AB
Happy Monday y’al…
Could Q4 be bid season
for the newly revitalised Centamin?
Thanks Bob
Yes, we have the vote to kick out one group of nutters and vote another group of nutters in, thats our lot these days in the democratic world. We have to be far better at attracting a better class of people to do the job, obviously.
Well the quick anwer to your question, is I dont favour or see as even slightly attractive any of the governments you mention. What about Egypt?
Regardless of this, I also do not see much attractive about the UK system which delivers up an array of buffoons of various flavours and ideologies, and I wont speak about the US.
I would far rather a proper system be put in place to have potential politicans go through a rigorous x-year education and training programs which teach them how the world works, how businesses actually work, and give them a decent understanding of ethics and morals (etc) Now wouldn't that be fun.
It is extraordinary how politicians (esp in the southern penal colony) can be elected, who have no significant education, no life skills, few morals, basically unemployable, serve with distinct incompetence, some even have relationships with Bikies whilst serving on the parliamentary law enforcement committee that was gathering material about outlaw motorcycle gangs in an inquiry into online drug trading?! and then retire on a handsome pension, free air travel etc. whilst consulting and being paid a fortune to lobby on behalf of any foreign powers and cronies wandering the streets. LOL
As commented previously the lunatics are playing a brilliant game, and if we dont watch out we will be wiped out.
Thank goodness for the younger generation, who will put all this right, and wonder constantly about what the older people (who will be locked up in Aged Care homes) were ever thinking about? Or even if they were thinking at all.
Back to my medicine, I might have taken an overdose with my porridge, in between rain showers down under.
cheers
the Gnome
Hi Gnome,
As in Aus the people have the vote to kick out whichever Gov't is in power for the prosctribed period or before if sufficiently alienated. Try that in Russia , North Korea , Iran Venezuela and your dead or worse as is your family. With all its failings the present system (warts and all) suits me and the majority of the democratic world just fine. Happy to here and consider your defense and views on those Governments listed above
Regards Bob
.
That was a solid report by Centamin, and some very interesting comments on the exploration, in particular the airborne TEM surveys at Sukhari. My read was that they provided very insightful data, such that will may see more focus, and more results coming from exploration.
Lithium has run so hot, its a good thing to get out of, and gold has run so poorly (against logic), thats its a good thing to get into now!
I think with Centamin obviously turning a corner now, its a great time to reposition it in your portfolio! and I say that not calling for a small fee?
Not sure how the UK can go through so many PM's, so quickly, each being a few cents short on the dollar, not to mention Chancellors,
Kwasi Kwarteng
2022
Nadhim Zahawi
2022
Rishi Sunak
2020 to 2022
Sajid Javid
2019 to 2020
and now we see Boris being touted as being a front runner to be new PM...and certainly not by the people, matter of fact in the UK the vote of the people seems to count for nought? An odd state of affairs all round to see the least.
https://www.youtube.com/watch?v=qWMvFPoBuvg
best
the Gnome
Wall Street rallied after a muted start on Friday, with the Dow adding more than 700 points and both the S&P 500 and Nasdaq up around 2.4% as investors reassessed the outlook for monetary policy. The trigger for the abrupt upside move was a report from the WSJ that showed that some officials are signaling a desire to slow down the pace of the increase soon to gauge the impact of such tightening on growth. The market movement came in tandem with easing Treasury yields, which brought some respite to growth-oriented stocks. Still, volatility showed no signs of abating amid Friday’s $2 trillion options expiration. Meanwhile, a slew of negative quarterly results from corporate America capped gains. Snap crashed 28% after the company forecasted zero growth for the current quarter, triggering a selloff among other social media companies dependent on advertising revenue. All major US indices closed in the green for the week with the Dow gaining 4.9%, the S&P 4.7%, and the Nasdaq 5.8%.
The debt facility was ALWAYS an ace move- this was viewed as a risk when it was first muted, I recall the CFO's less than convincing verbal performance on the webcast, plus CEY weren't delivering as they are now so at the time was construed by some as being needed to get out the hole(or dig a deeper one, pardon the pun) rather than build futures on many fronts. To me, it is only what an sane company does and demonstrated correct drive for expansion, much needed from the high risk, single mine approach. It's good to see that since this was first mooted it is continually mentioned and couple with very good performance keeps away from being seen as the former concern. CEY comms have improved, not perfect but miles and miles better than previously.
Fascinating stuff. It'll probably cost even more by the time they do it - no wonder they want a debt facility. I hope they're open with the results and detail of the PFS
Comparing two very similar mines to be constructed in Cote D'Ivoire.
Endeavour's Lafigué -->
4Mtpa CIL plant; 203k ounces/yr ; AISC $871 ; 12.8 year initial mine life
Costs Breakdown Millions: Treatment Plant 75.9 ; Reagents/Services 20.6 ; Infrastructure 74.7 Mining Facilities/Establishment 21.5 ; Construction Distributables 36.3 ; Management Costs 33.3 ; Owners Project Costs 71.9 / Freight 26.4 / Tax/Duties 5.6 ; Contingency 43.0
Project cost $ 448.0 million after-tax IRR of 21% and NPV $477m at a $1,500/oz gold price
VS
Centamin's Doropo -->
4Mtpa CIL plant; 208k ounces/yr ; AISC $904 ; note: initial mine life & AISC to change as Doropo grade & resource has improved since PFS ;
Cost Breakdown Millions: Treatment Plant 71.33 ; Reagents/Plant Services 14.23 ; Infrastructure 30.75 ; Mining 22.86 ; Construction Distributables 17.62 ; Management Costs/Specialist Consultants 19.62 ; Owners Project Costs 59.80 ; Contingency 38.98
Project cost $ 275.2 million ( IRR & NPV to improve as Doropo resource has grown considerably therefore better metrics ) at $1450.00/oz gold price
----------------------->>>
So why does Centamin's near identical project cost so much less? It was calculated in Q2 2021 prior to the worldwide inflation explosion whereas Endeavour's project projected costs were recalculated (updated) just this month (Q3 2022)
(( So then, compare Endeavour's OUTDATED Q1 2021 PFS estimate 74.4 Reagents/Plant Services ; 14.4 Infrastructure 70.4 ; Mining 50.3 ; Construction Distributables 23.5 ; Management Costs 24.5 ; Owners Project Costs 34.2 ; Working Capital 4.8 ; Contingency 37.7 ; DFS Costs 3.8 Project Total $ 338.0 ))
Now you can see it was once a much closer amount
Bottom Line: Doropo's estimated cost to build is EXTREMELY OUTDATED. One must expect the updated PFS coming in Q4 to reflect the new reality of inflation and be revised to nearer Endeavour's Lafigué DFS costs - namely add another $100 million or so.
Also note: It appears Endeavour included some costs Centamin neglected to account for in its initial assessment i.e. freight/tax/duties, perhaps a cynanide recovery system, etc. If a more exact comparison was made perhaps an addition $150 - $175 million is needed.
But, the good news is Doropo's resources have been growing - perhaps making the case for the considerable extra spend easier to swallow.
Yawn...
Apologies
I am an idiot
I was looking to see if my 'last' post was deleted - and indeed it was, again - but nonetheless I looked further back and saw the original offending post (which on reflection was not that offending) and alas it was NOT from you.
I will shut up now and simply post this for Rebess or whomever else appreciates poetry on a Friday. Have a good weekend all. (I will do some self-reflection!)
----------------------->>>>
Not from the strife itself to set thee free,
But more to nerve--doth victory
Wave her rich garland from the ideal clime.
Whate'er thy wish, the earth has no repose--
Life still must drag thee onward as it flows,
Whirling thee down the dancing surge of time.
But when the courage sinks beneath the dull
Sense of its narrow limits--on the soul,
Bright from the hill-tops of the beautiful,
Bursts the attained goal!
If worth thy while the glory and the strife
Which fire the lists of actual life--
The ardent rush to fortune or to fame,
In the hot field where strength and valor are,
And rolls the whirling thunder of the car,
And the world, breathless, eyes the glorious game--
Then dare and strive--the prize can but belong
To him whose valor o'er his tribe prevails;
In life the victory only crowns the strong--
He who is feeble fails.
I was checking shorting and the methods earlier.
There s a very good article on Wikipoedia, Short and Distort: Bear maret Manipulation.
Read all it had many similar features as with CEY.
Including paid bloggers and their tactics.
I leave it to you canny gang to decide.
GLA LTH
Let's hope for the top/drop of inflation then the normal FED lag to slow rate increase and drop too- as I've said all year in will happen back end of 2022, although time is running out. To be clear the impact is generally actual v forecast!
Useful if you're interested:
https://tradingeconomics.com/united-states/consumer-price-index-cpi
As you say 3Bear- CEY well positioned now to keep on climbing now, they are now doing as well as saying their bit and gaining credability.
Major European stock indexes traded below the flatline in premarket on Friday ahead of the release of economic data due for release later today.
Investors will receive updates on the United Kingdom's retail sales and a preliminary report on consumer confidence in the EU. In addition, Germany's Bundesbank will reveal the country's economic outlook later today.
Frankfurt's DAX dropped by 1.14% at 6:53 am CET. At the same time, the CAC 40 slipped by 0.83% and London's FTSE 100 fell by 0.41%. The euro traded 0.21% lower against the dollar, to sell for $0.97657 at 7:11 am CET.
The pound sterling slumped by 0.45% to change hands for $1.11857 a minute later.
Baha Breaking News (BBN) / AB
Happy Friday y’al..
Enjoy your weekend.
Steady as she goes my AISC.
Production 127,512oz best since Q3 2020 (128,240oz)
Revenue $218m, best since Q3 2020. ($230m and that was on an average realised GP of 1933/oz)
With these numbers, Horgan has basically guaranteed that he will hit FY guidance for 2022. That's great. But get ready cos he admitted in the presentation that he will use these stellar Q3 results to buy him time and leeway for the rest of the year. So Q4 production will be down - to around 114000oz if he's going to hit the middle of guidance for 22. As to revenues that depends on the GP.
For AISC in Q4 expect to see US$165m spent in spite of solar saving truckloads of diesel - around 300 truckloads (5.5m litres and around 5m USD) over the quarter.
To my mind these results show that this company has turned a significant corner in terms of consistency and general competent management. Horgan was more guarded and less enthusiastic during the presentation today which worried me somewhat, but overall he gave me enormous confidence that my too large investment in his company is a sensible thing.
Some people on here remind me of a story told by the RAF Tornado pilot Pablo Mason who worked for a budget airline after surviving the first Gulf War in 91. He was flying a bunch of Brits down to the Costa del Sol and came on the intercom thus: "This is your captain speaking. I have never seen a more miserable bunch of people boarding my aircraft in my entire career. Cheer up you miserable bunch, you're going on holiday."
A passenger complained and Pablo was sacked. These results look to me like a sunny weekend in Majorca. As far as I'm concerned we're on our way to glorious sunlit uplands and razors has got it right - the only mistake to make on this stock is not to have your line in the water.
Good luck all.
https://twitter.com/centaminplc/status/1583096510849642502?s=46&t=8FV3K4p0AiagJcSlAJoxfQ
We get a new Prime Minister in a week.
Downing Street statement about to happen.
Let's hope this gives shareholders what we deserve - to stay above 90 at least !
At least the important numbers - production & costs - are improving. It has taken a long time but if we can now see a few quarters of steady & consistent improvement we should see the share price follow suit.
I have waited this long & can wait a bit longer - just hope they don’t do something stupid M &A/capital wise & set us back to square 1 :)