Gordon Stein, CFO of CleanTech Lithium, explains why CTL acquired the 23 Laguna Verde licenses. Watch the video here.
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Ye Razor as said at 9am going ex div today accounts for about 2.1p of today’s fall. We are now very near the cliff edge, if gold breaks $1675 the multi year bull will be through says TD securities today and they say it is not if but when and likely very soon. As said before, Cey may halve again or worse, but as long as Horgan doesn’t start spending money and stops the unaffordable dividend we should sail through to the uplands later this decade or next…Egypt willing.
https://www.google.co.uk/search?q=centamin+ex+dividend+date&ie=UTF-8&oe=UTF-8&hl=en-gb&client=safari
Rio Tinto Group agreed to buy out Turquoise Hill Resources Ltd. in a deal valued at about US$3.3 billion, securing more control of a giant copper mine in Mongolia.
The deal comes two weeks after Montreal-based Turquoise Hill rebuffed a lower offer from the mining giant and ends almost six months of takeover talks.
The final deal represented a 67 per cent premium on Turquoise Hill’s share price before Rio’s first offer on March 11
https://www.bnnbloomberg.ca/rio-tinto-to-buy-balance-of-turquoise-hill-for-us-3-3b-1.1813320
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mining executives looking to buy and not grow their production organically more often than not buy high and sell low - i.e. copper was near all time highs in March when Rio first approached Turquoise Hill Resources , copper/gold has since dropped and yet they ponied up more $$ to finalize the acquisition
Yes Doc ,almost forgotten about them.
Now time for them to save for their Christmas vacation to the Carribean.
Fuel for their luxury yachts ihas got more expensive.
A well-earned breakfast for our #EDX sample prep team. Working from our lab in Marsa Alam they carefully prepare all the soil samples collected from our Eastern Desert Exploration blocks for analysis. More about our EDX project: https://loom.ly/lK4Ropg
#goldexploration #egypt
https://twitter.com/CentaminPlc/status/1565263338753376257
The big swinging dicks are back from holiday and engineering fear
It's just the normal response to the FED last week and markets need to move to make money. When, for example, the S&P dropped to around 3,666 everyone was saying sell sell sell- but it jumped back unexpectedly for all the doomsayers-
Now it's retraced about 50% of the gain. The FED has vowed to hit inflation, had they not been so hawkish the markets may have risen but could also have fallen harder as FED would be seen to ignoring. Inflation will top, and drop like I've been saying all year- nothing this week has altered my strategy on my main investments - had a little gamble as normal though. Agree with Sotolo and many others here, that CEY has turned- and well positioned when overall markets improve. Bonds are a waste of time- yield is dire - and with interests rates still way low, Equities remain the place for investments long term. It's not like we're back to 1990's- in the scheme of things rates are soooo low.
and Silver price is falling daily too. Are the US Hiking Interest rates to 10% or something? Strange recent falls from the precious metals.
It seems many investors are selling stocks to move into US Government Bonds.
Nothing suspicious in that.
Van Eck made a normal small adjustment ,for them.
Goes on occasionally.
I wonder if the prices dropping in general are the start of the ressesion many have been expecting.
2.1p of todays fall is going ex div if I have it right so Cey is actually down about 1.3p just now, it has held up remarkably well SO FAR in the face of tumbling gold that the majority of economists seem to think will fall further as real interest rates rise. If you look at the inflation indexed 10 yr tip, ie the real interest rate, it is remarkably inverse to gold over decades. It was rising and hit positive real rates through this year, had a respite in August and gold did a recovery, and now on real rates are the way up again ie treasury investors, a massive market, expect rates to rise more than inflation on a 10 yr frame, so not good for Cey. A bit like 2013-15. However at some point that will turn, could be next year could be later this decade and baring political catastrophe I expect Cey to be around to do well. Another thought, if Cey has held up this well since the last results with collapsing gold, think how much it would have risen with rising gold, the market is finally buying the Horgan story. The big question for us is how low Cey will go and which of us will be frightened out when, and who will stay the course and alive chattering away here about Centamin, it’s prospects the metal it sells, and the economy it sells into
Equities in Europe traded lower on Thursday ahead of several economic reports that will be released throughout the day, most notably on the unemployment rate in the Eurozone. Others include those on activity in the manufacturing sector in the euro area, the United Kingdom, and Germany and retail sales in the latter country.
Earlier, member of the European Central Bank (ECB) Governing Council Francois Villeroy de Galhau warned that the rising trend in inflation has started affecting gravely several fields of the economy, including the services sector.
The DAX declined by 0.51% at 7:47 am ET. At the same time, the FTSE 100 decreased by 0.50%, and the CAC 40 fell by 0.68%.
The euro lost 0.35% to the dollar to change hands for $1.00163 at 7:56 am CET. A minute later, the pound sterling went down by 0.32% against the greenback to sell for $1.15856.
Baha Breaking News (BBN) / JR
One of the good aspects of Centamin growth pipeline is htat there are few exposures to permitting delays.
The demise of St Barabara's foolish foray into Canada (they are not alone but thats another story) to purchase Atlantic Gold, is that the permitting times have blown out considerably (years), and they still think they will make a decent return on investors money? One can appreciate the significant cost of delays (often not talked about in Mining Circles for obvious reasons) by reference to the below article, which although talking about innovation (what was that again?) projects applies equally to Mining Projects and investments.
https://www.linkedin.com/pulse/aware-financial-impact-slow-project-execution-your-npv-de-kempenaer/
"If you allow the timeline to slip by just 6 months (10% of the lifetime of your product), your NPV will have declined by 20%. So avoid unnecessary delays, make innovation (OR MINING) project decision at the time when they are needed, not a week or month or quarter later. Those decision are on your future cash flow!"
What you rarely see is a reworking of the mining projects financial metrics when such delays occur !!! Water under the bridge, or off a ducks back!
Perseus has demonstarted the ease of permitting in Cote Ivoire, and has had a win for investors
https://www.afr.com/companies/mining/gold-s-rising-and-fallen-stars-cross-paths-in-reporting-season-finale-20220831-p5be57
St Barbaras share price went from $4.50 to $0.74 at the same time period Perseus went from $0.40 to $1.80-$1.60. Know which investor group ois happy?
SO I AM FAR MORE RELAXED ABOUT THE QUANTITY QUALITY OF CENTAMINS GROWTH PIPELINE,
best
the gnome
December 2021.
In all fairness to Horgan ,he only said there was a possibility of a Bonanza grade accessed by mainly the open pit next year.
These high grade deposits being in narrow veins and erratic.
So best for now ignored ,If they happen a bonus.
I agree Mikefreedom - Mr Horgan must be careful not to protest too loudly or push too hard for change if he wants to keep his job - assuming he's committed to working in the best interest of shareholders and not personal side deals
One battle I would like to fight is for more details on the so called 'Bonanza Zone' supposedly discovered late last year - how was it discovered? So far we have no actual drill results - so who's to say it is real ?
There is a public message to Centamin here for those shareholders who want react or comment further on the subject:
https://www.linkedin.com/feed/update/urn:li:activity:6970421600387010561?commentUrn=urn%3Ali%3Acomment%3A%28activity%3A6970421600387010561%2C6970664994208112642%29&replyUrn=urn%3Ali%3Acomment%3A%28activity%3A6970421600387010561%2C6970772361243500545%29
I am sure Martin Horgan is walking a fine line also ..... and I hope he is engineering a change in the board and future of the business. This all takes time and you decide which battles to fight to bring about change..
I am hoping he is in it for the long term to turn the minnow into a mid size powerhouse.
And yes, some more transparency would be good but it could also be just dragging up the failures/incompetence and big bonuses to the board/prior CEO bonuses. It would be good if the fund managers would give some strong words........
Anyway, any short/medium term predictions re gold
I am hoping one day for some gold covered flip flops
Analysts at Liberum raised their upside case target price for shares of Centamin to reflect the saving that could accrue from its 'in-house' underground mining, solar generation and grid electricity.
That was despite their "conservative" assumption that inflation would erode half of the projected savings.
The annual savings were pegged at up to $60m or $133m/oz and had yet to be reflected in post-2022 guidance, they wrote in a research report sent to clients.
Nonetheless, the Egypt-focused gold miner's unit costs were seen falling by $42/oz. as a result in 2023 and by $64/oz. from 2024 onwards.
In turn, their upside case net asset value-based target was bumped up from 102.0p to 121.0p.
At their current price, the shares were discounting a gold price of $1,525/oz..
Liberum also reiterated their 'buy' stance for the shares.
European markets traded higher in premarket trading on Wednesday following yesterday's volatile session. During the day, Germany is scheduled to publish its latest data on the unemployment rate after previously registering higher-than-expected inflation in August. Europe is also set to announce its latest Harmonised Index of Consumer Prices report.
Frankfurt's DAX was up 0.45% at 7:23 am CET, the CAC 40 increased by 0.28%, while London's FTSE 100 rose by 0.13% at the same time.
The euro was higher against the greenback, to change hands to $1.00412 at 7:35 am CET. Two minutes earlier, the pound sterling traded 0.27% higher against the American dollar, selling at $1.16869.
Baha Breaking News (BBN) / MM
Happy hump y’al
China has significantly stepped up its gold purchases from Russia amid a Western ban on Russian gold following its invasion of Ukraine.
China imported $108.8 million worth of Russian gold in July. That is a 750% jump from the previous month’s total of $12.7 million and an increase of 4,800% from $2.2 million reported during the same month a year ago, Russian media RBC reported citing Chinese customs data
https://www.kitco.com/news/2022-08-30/China-s-gold-imports-from-Russia-surge-750-in-July.html
This Thursday I’ll be heading out to Egypt on an ESG internship with Centamin PLC, an opportunity created alongside Women In Mining UK (WIM UK). I will be working on site at the Sukari Gold Mine on projects relating to supplier due diligence and social performance monitoring. I’m very much looking forward to this experience!
continues here:
https://www.linkedin.com/posts/phoebe-d-01aba2115_esg-development-womeninmining-activity-6970421600387010561-eI2f?
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A great opportunity for this academic but also a bit of a conflict of interest.
How free will this person be to criticize (or more likely how motivated will they be to see the glass half full) when the benefactor Centamin is paying your way ?
Regardless, it baffles the mind how much oxygen the ESG narrative devours in the absence of real shareholder accountability. Some will say leave the past missteps and waste buried - as it doesn't apply to the present lot of directors and CEO. Fine.
But here is an obvious misstep - having a subjugated intern study one's ESG practices when only an arms-length 3rd party could be impartial is nearly pointless.
Kinda like expecting a reply from Centamin's IR dept regarding the long stalled Batie West divestiture, the competitiveness (or coziness) of the Capital waste moving contract, and the existence of real drill results from the Bonanza Zone. Is integrity, transparency and disclosure not part of the ESG agenda?
Come on Mr Horgan, do better than your predecessors - if you've no answers for shareholders on these questions we can't help but assume the reason you are silent is because the truth won't stand up to 'ESG' principles - emphasis on the Governance.
I agree MrBond - good points you make
No different than politics ,when there is a re-election you rely on your major backers.
Sawaris and Endeavor learned the power of the large holders.
But then he was not well liked in Egypt. EMRA also have the power of large investors.
Bristow has led a succesful company but his personal like of hunting wild animals would not go down well with large or small investors in this world now.
But CEOs can be got rid of, he is not the company .
And of course large investors enjoy dividends ,unlike small traders.
then small shareholders like us really have little sway.
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Aug 29, 2022
“Copper has always been part of Barrick. We need to grow more and copper helps you. We will keep investing in Zambia but our other focus is the Nubian-Arabian shield, which is western Saudi Arabia and Egypt, where we have our toe in the *water.”
Bristow reckons there is going to be an inevitable convergence of gold and copper mining. Not long after Randgold had merged with Barrick – and Bristow took management control of the new group – he was involved in talks over a possible merger with huge copper producer Freeport-McMoRan during a “window of opportunity” in 2020, when the copper price was depressed at levels below $3/lb.
Nothing eventually came of it and, asked about this during a press conference at the Mining Indaba, Bristow replied: “I tried. Everybody *****es at me, but I tried. It was a damn good idea but the guys who stopped us were the big funds.”
https://www.miningmx.com/news/base-metals/50369-zambias-long-neglected-copper-riches-are-turning-heads-again/
<<<------------------------
* Also, how warm is the water in Egypt?
Thankyou Spoonington for the tip, IDX have been punished, certainly interesting figures, and there seems to be a solid progression in last few days ...
Self evident, I wish it was that self evident to those in the pollies positions.
best
the gnome