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Hi Paul - the mine is fully off grid and all of its energy is provided by burning 200 million litres of diesel a year - to power the trucks and plant but also to generate electricity. This is inefficient, polluting, expensive and about as bad as it gets from a carbon emissions pov. The only way to be less green I can think of would be to build a coal-fired power station on site. Solar will save 20million litres of diesel per annum, which is great but still leaves a 180m litre fuel bill. Grid connection would eradicate diesel generation of electricity - cheaper, more efficient and significantly greener. No-one asked how much fuel it would save - I'd like to know the answer to that.
Next stop, detailed half-year financials and declaration of the interim dividend on 4 August 2022.
Hopefully the solar will help bring down costs. There was something about connecting to the National grid?? I wonder if that is just about going over to more electric because of fuel costs or actualy feeding into the national grid?
Also I saw mention of taking delivery of some more of the alloy bodied trucks, so that should help. I would assume that the more waste from that pile they shift, it should get easier, quicker, cheaper?
I'll admit I dont really know how to read the figures, but it looks like Martin Horgan is just trying to keep things steady, regarding the RNS and there are no extravagant promises or last minute kicks in the nuts like we have had previously.
Obviously we could do with the price of gold rising and us hitting some good good grades along the way would help.
I find it hard to understand why gold isnt higher, especially with inflation running amok.
martin horgan....on sky news now
Sotolo thoroughly agree AISC at the higher end of $1275 to $1425 is a worry and how much of this is caused by the Capital waste project? There again a necessary evil and is this an ongoing cost with strip ratio closer to reality than earlier years where cut backs kept to a minimum?
Guess we won't know until 2024 when the waste contract has come to an end.
All in all a good RNS, sukari is looking in good shape to weather the current world problems.
I like this paragraph.
Sukari Bonanza zones. The Bast area between Ptah and Amun continues to return high grade underground zones of Bonanza style mineralisation. Drilling in this area demonstrates a consistent geological host within 100m of existing infrastructure which could improve underground operational flexibility through the development of a new high-grade mining area.
Remember that old joke: Two blokes are walking across open ground when suddenly they come across a tiger. One of them starts running and the other one shouts after him: 'You can't outrun a tiger' to which he answers back: ' I don't need to outrun the tiger - I just need to outrun you'
So what is the connection to Centamin?
Well to SteveJones' point, the SP is in the toilet. So what CEY needs to outrun in order to start moving up is the absolutely awful current expectations of the company. If it can perform mildly less rubbish than is expect then we will move up.
Martin Horgan definitely seems to be a 'tell us what we will deliver ' and then a 'deliver what I have told you' kind of guy. I really like the fact that once again there are no surprises and I think the market will too after so long when each update contained curve balls.
So far today the market seems to be responding positively.
apologies, 4.1m less capex than Q1
True- but the SP is in the toilet plus meeting expectations now and expansion possibilities there now, plus the changes they made will give greater control of costs
Just the increased AISC inflationary woes and pog to be of concern from now on then lol
big concern is the AISC - US$150.7million this quarter and that's with 20m less capex in it than Q1.
Production v good on the bright side.
Not bad results but the gold price is not looking good. I can see 1500-1600 in the short term
Solid and clear update
This quarter $1357/oz
For rest of 2022:
· AISC of US$1,275-1,425/oz sold. Given the current inflationary operating environment we continue to monitor consumables pricing and review opportunities to offset price increases with cost savings initiatives such as the solar power plant
Yes no surprises, the metric that I always worry about most aisc is now likely to be at high end of 1275-1425 which at these gold prices might give near £50m profit afte the Emra share, so considerably lower than historical and even at this fallen share price a higher PE than historical, in expectation of better times. All depends on those costs going down, and faster than gold does , I wonder if there will be much market reaction as all this is known?
Good morning Xxxxx
This morning’s numbers seem inline with what is expected.
Production was as projected and not above so I don’t expect anything exceptional from the market today.
(Famous last words)
We’ll see what happens.
Regards Xxxxx
Not too bad, steady going
no alarms and no surprises....
on target
unhedged and debt free
lets see how the market reacts.
Why, there won't be any big surprise
Equities in Europe traded higher in the premarket on Wednesday ahead of the newest reports on the United Kingdom's inflation and Germany's producer prices. Later in the day, the European Union will publish its freshest result in consumer confidence.
The DAX went up by 0.54% at 7:13 am CET. At the same time, the FTSE 100 rose by 0.46%, while the CAC 40 grew by 0.34%.
The euro gained 0.15% to the dollar at 7:16 am CET to sell for $1.02429. At that moment, the pound sterling increased by 0.28% against the greenback to go for $1.20283.
Baha Breaking News (BBN) / JR
Gold slightly better than flat at + .07% $1712.76
Drumroll for an extra special hump day, may the hump be extra large and in our favour.
Good luck today y’al
Hold on to your hats
Spot on,
My prediction based on previous RNS are if if its a positive one then we will have a slight lift but finish lower due to the traders who have already positioned them selves for the anticipated good news rumour and will sell then sell on the news.
Then we can hopefully look forward to a steady climb back up over the coming months.
Fingers crossed for tomorrow and good luck to all us battle weary LT holder's.