Centamin PLC Share Chat (CEY)

Check out the RNS CORPORATE UPDATE & DIVIDEND DECLARATION 14th January 2020 at 11:40

JEph thanks is that for the 2019 ?

Ex-Div Date: 21 May 2020

Record Date: 22 May 2020

Last Date For Receipt Of Currency Elections: 26 May 2020

Pay Date: 12 June 2020

when CEY planning to pay the divi and when does it go ex divi ?

Attention Centamin shareholders — please let the board know you expect the following THREE concerns to be addressed concurrent with the Q4 results announcement January 30, 2020

1) Why has the Scoping Study for Batie West Project been shelved? It was promised to be released in 2018. We paid for it - so where the h*ll is it?

2) Why has there not been an UPDATED Resource Estimate in Burkina Faso despite a vast amount of exploration drilling and tens of millions in expenditures over numerous years?

The standing resource estimate is grossly irrelevant as it only contains drilling data prior to 2014 - all of which is exclusively Ampella's drill results (i.e. 2013 and older) Not acceptable!

3) Why has the Doropo economic feasibility study been delayed? It was promised to be released in October 2019

Releasing this data AS PROMISED will have a significant effect on the share price & subsequent value of any further merger proposals - which WILL arise ANY TIME NOW that the Egyptian mining executive regulations have been approved (thanks Siko for keeping us posted!)

**We need to remember this is a total game changer in Egypt because it brings the era of profit sharing to an end and makes Egypt extremely competitive. Many companies will be eager to invest.

** Centamin's failure to publish this information on January 30th will constitute a serious breach of trust towards shareholders and a critical failure of disclosure to be addressed by market regulators in Canada and the UK. **

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I encourage all shareholders to contact IR immediately
Investor Relations
Alexandra Carse
Email: alexandra.carse@centamin.je
Telephone: +44 (0) 1534 828700

Better odds in Vegas. Was there in September and as always came home penniless.

Bob

Haha like going to vegas Bob

Hope you are winning

bests Mike

Very impressive finish to the year end results have given us all a hearty kift in sentiment (just like Hochschild today) and what with as Razor said a trade deal being signed today which will push demand, talk of a cut in UK rates to boost growth which will also help with dollar earning Companies and we should be worth more.
We also have lost the Elephant in the room (for 6 months at least) and hopefully by then our share price will be out of sight for Endeavour or anyone else.

AIM is in the hands of the nominated company brokers who set bid ask levels and who maintain sufficient liquidity for the market to operate. Most funds wont touch it unless aimed at New market entries. Casino Royale territory.

Sorry to hear of your bad experience. Look on it as payment for education which might help.

Bob

Cheers Bob

I recently bailed out of Bidstack with a £10K loss (aim) and have another dog Orm with the same again.

Got to say AIM is general is like a casino

Anyway looks like a postives for Egypt and CEY

http://gate.ahram.org.eg/News/2349424.aspx

Just some bits and pieces of the executive regulations, can't find yet the full financial details..

Hi Tibbs, Mikefreedom

A very good confirmation of "DONT DO IT" and similar life experience as mine.
However long term investment has paid off for me as in CEY at start 33p (and do I remember the drop to 22p --oh yes!!!)and Johnson Mathey at about 900 (currently 2920) and who paid 86p per share divi in 2019

Bob

Rebess I understand your worry but it is seldom that we have had the guy on the ground responsible for operations voicing his thoughts at a phone in and as I say I hope he is involved on 30th because this will give us a great deal more of an insight, especially as he will already be a month in.
I am sure there was a great deal of scraping around for ounces to get close to the bottom end forecast but they don't have to achieve the same results to meet the 2020E forecast and this needs to be borne in mind to achieve 540 they need 45,000 a month and 510 they need 42,500 per month so bottom end or somewhere in between puts us on track.

Thanks Siko
Encouraging news - maybe it is all beginning to happen.

The PM has just approved and released the executive regulations of the new mining law. The news are just coming out so I will try to find the details and let you know.

Sorry to hear that Tibbs

but glad you closed your position for your own health and sanity.

Wish I never invested in anything (over the last 30 years) as I have only ever made six figure plus losses-I hoping that CEY will provide some help with the golden flip flops eventually

Hello Dasut
Yes I am in agreement with the points you make. - I was of the opinion after Q3 that it was impossible to achieve anywhere near 490k to achieve lower-end forecast. As you say, all credit to the team that did it. - Mind you, it depends how they did it. That is the unknown at this stage. - If you recall, it happened last year as well in Q4 . only to be followed by a quarter that by contrast was so low as to collapse the Sp, thus undoing the progress we thought we had achieved.- Q1 forecast will reveal much I feel. If it follows the pattern of last year, our celebrations could be short-lived. If, on the other hand, Q1 indicates that Q4 wasn't a one-off, then we could be looking at a whole new ball-game. IMO

Repression,
Stop losses are a con, the MM and others can see them, one of the reasons so many CFD traders close their positions on a Friday is because the market can Gap down over the weekend and although you have set you stop loss at £1.20 the market could open up much lower and you are still commit ed to paying that extra loss!
If you have margin on your portfolio they will take that , if you lose all of your portfolio (which some traders have done)then you will still be required to pay the debt, so you have to raise money against your home or other property , whatever you are in big trouble , just as though you had bet against the roulette wheel and lost big time!
As an example Logic Investment rang me several times in a morning advising me to go short on Travis Perkins, I was against the idea as I said it was a quality company, Darren the broker kept calling me stating they knew what they were doing, in the end I relented and let them open a short position at around mid day, we went to Salisbury's and at around 1400 hrs whilst in the supermarket I received a call from Darren saying that the market had moved against my position, so taking his advice cost me £921 in less than two hours!
This is just one example the mess you can get into CFD trading and in my case the incessant calls from the broker to trade and the worry and stress I went through over many weekends including a Christmas break caused me to become very ill and my doctor advised me most strongly to close my CFD trading account.
Taking my doctors advice cost me around £31,000 to close all my positions and the account with Logic Investments,but it was the only way to stop the merry-go-round and regain my mental health!
So before entering into CFD trading consider very carefully the true risks involved to you and your family!

Rebess there has been some interesting input over the last days and I think we need to give some credit to the Cey team many of whom are new in the job but the turn around over JUST 3 months is nothing short of outstanding.
As I have pointed out there was always a good chance of getting close to the 50 thousand ounces a month if the ratios worked and all I can say is hats off to the operational guys for a very good job well done.
Yes I know that we have seen many ups and downs but right now I am more than pleased with what has been achieved so as I say pat on the back for Jeremy and his team.
Yes 30th is now crucial and hopefully we will get the same positive vibes that I felt when listening to the last phone in with Jeremy participating.

Hi Repression

Re reading my post I didn't adequately explain the finish .

Assume your short has gone well and the share price has declined from 100p to say 95p then judiciously you take the profit which you exit by closing your open short by putting into the sell side an offer to buy at 95p. When taken up then if you had 200000 shares profit less costs would be 10000 pounds for your original deposit of 20,000. However alternatively if it goes against you by 5p then you have lost 10,000 from your deposit.

Market manipulation can occur if using CFD successive lower entries to buy are entered into the sell side. eg you are asking the market to sell to you at successive lower price.

Not a very adequate explanation but hope shines a little light on the market options. As said previously glad to hear you will keep clear unless you enjoy hanging one handed on a cliff face whilst throwing large denomination notes into the void.

I always make the right decisions in hindsight. Example No brainer for a CEY rise this am. Hope now for a steady rise into the end Jan statement and as Rebess wishes.
Bob

Thanks Bob. I undertand the mechanics of essentially spread betting, but I didn't know the part you explained about how losses are covered, but I do now. Very interesting but deffo not for me!

We are where we are, as has already been said 'We dodged the bullet', - So now what? - Where do we go from here? - The new mining law, when we get it, could create expansion opportunities in Egypt. Hopefully, we can take advantage here if and when it presents. In addition, we have our 'West Africa 'assets.- However, it's unlikely that we can have expansion in both mine assets and dividend growth. So let's get real. - What is the priority? - For me it has to be expansion. We have to change the 'One mine status vulnerability' - We are already exploring the 160km beyond Sukari, even though it is still the subject of unresolved legal-dispute. Still an achilles heel this one. - The immediate future is our focus for now. If we are to maintain progress, Q1 needs to be a reflection of Q4 success. - A low-ball forecast and back-end loading, will affect our current status i feel and likely send us down a big fat snake, from where, we spend the rest of the year playing catch-up.

Hi Bobliz!
Thanks for the explanation.
I've never traded CFDs, and I don't think ever will. They negate the biggest advantage we have as PIs - that is, time. If we are trading our own money (unleveraged) we can choose when to buy and when to sell and when to simply wait things out. IMO, this freedom to choose makes a huge difference to our odds of long term success.
BTW, if anybody is feeling utterly and financially-suicidally reckless, one of the all-time great short squeezes is currently underway at TSLA (Tesla). How high it will rocket before it inevitably tumbles back to earth is almost anybody's guess...

Hi Repression

Ok will try to explain re Leveraged CFD shorts and Longs.

Unless you are a financially secure Institutional investor with a guaranteed credit line with a Broker you would need to lodge as an individual a sum of money
(GNI touch used to bottom limit this to circa 20000 + and may have changed probably upwards of this now) There are of course other Banks ,brokers who offer similar access directly into the "BOOK" the BOOK is the trading platform provided by the London Stock Exchange . All shares are categorised as to Market value. FTSE 100 comprises are the top 100, FTSE 250 is the next and then the remainder listed on AIM the Alternative Investment Market. The FTSE 100 and 250 are open shout markets where shares owned or wishing to be bought are registered. The AIM market is supported by a broker or brokers who will set bid and offer to enable liquidity in a small share.
The book has 2 columns a buy side and a sell side. This is where having opened a trading account directly into the book it gets complicated. The buy side (sell) and ask(buy) is the price you will get as a private investor if you buy or sell a share. For example currently CEY you buy at 1.22 and if you sell 1.20. This is called the spread. With direct acess if you wish to buy CEY you would put the number required into the sell side . eg you are offering to the market to sell to you at 1.20. You effectively have the advantage of buying at the lower end of the spread. The opposite if you wish to sell, Difficult to get the head round I know.
Now if you wish to go short you do not need to own the shares . Your broker will either from their own or arranged sources lend you the shares to sell. This is called an open short. If you have a CFD account (Contract for Difference) then you have a leveraged opportunity . This can be as high as 20 times for a FTSE100 company or 10 times for a FTSE 250 company (set by your broker) Therefore if you wish to utilise your 20000 pounds to the full you have buying or selling ability of 200000 to 400000. If you go short then the value of the sale will or used to accrue interest in your account. Similarly if long then you will be charged interest on the purchase amount.
Assuming the trade goes against you and the price rises against your short or drops against your long this will be measured against the funds in your account until the loss cannot be covered , At that time the broker will make what is called a margin call on you to put up mote funds or close out the trade without further reference to you. Leaving you wit the loss.
I am sure there are others on this very well informed board who will correct or add to my explanatrion but hope it helps somewhat. All education in the market is of value. I stopped CFD trading after taking a big hit with Abbey National and to preserve my sanity. I fully endorse Tibbs caution in this respect.
Bob

Centamin – Endeavour deal off, ups dividend, shares down. BUY

Worth a read if you're a subscriber.

https://www.*************.com/views/46852/centamin-endeavour-deal-off-ups-dividend-shares-down-buy