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Quite so , Thank you to our own Mr Goldgnome for his analysis of the RNS!
Absolutely agree Steve,
As Dasut and others have already said "At last!", a long and somewhat frustrating wait, but that said at least this time the exploration data update seems quite different from those in the past given by Pardey & Co which turned out to be unrealistic and undeliverable!
This time the good news and grade predictions are backed up with credible evidence, it just needs to be delivered on sooner rather than later!
Another six months.
Increase output, reduce costs and gold price up is what will increase sp. Not easy task in today's climate, everything is struggling
What will it take for the SP to be consistently above the 80p mark? This has been meandering this range for ages!
Hi Paul,
Excellent video, Thank you!
What a pity that Boris Billy Liar is to stay on as caretaker, although all this bullsh*t from former cabinet members and senior Tories about doing their duty and acting in the best interests of the country is only because they are desperate to keep their seats on the gravy train!
The odious Tory cabinet party has been complicit in allowing Boris to deceive and lie from pre election, pre and post Brexit, but now Boris has told so many lies that they know that if they don't stab him in the back now they will be out and the the public that voted for them will finally realise what the Tory party really stands for!
It looks like the UK will have a winter of discontent and his time the Tories can't blame it on the other other parties ,or the EU because they are clearly responsible for the UK going down the lavatory!
Remembering BILLY LIAR - Starring Tom Courtenay and Julie Christie
https://www.youtube.com/watch?v=Wz3mBlGrblA
GP tanks.... Cey UP
Bank of America raises Centamin price target to 140 (130) pence - 'buy'
Berenberg cuts Centamin price target to 112 (114) pence - 'buy'
Here you are Mr T Maybe a little smile fron you today? https://www.youtube.com/watch?v=a1zphVSkWx0
Up she goes...
The other good bit of news for the die hards, is dear ol' Boris is going to fall on his sword! LOL. He must have heard that if he didn't resign, he would get some 24 hours of counselling from Nick Kyrgios. Never a dull day?
good luck to us all
the gnome.
I totally agree with "Mouth Watering" and how apt the word "Bonanza" is and this increase in what is effectively asset growth should wake up investors to the true value of Centamin.
No doubt however is that we need an improvement in the Gold Price and a strong set of mid year numbers.
Indeed at last some long overdue good news all round.
Thank you gnome for your knowledgeable interpretation of the RNS and converting it to plain English for us none mining holders.
Mouth watering says it all for me.
Plain and simple, thank you.
Two lots of good news now in a short space of time, all we need now is Q2 to be good and i think we can say for certain that were finally back on track.
Happy days.
Although the gold is within a concentrated large vein it is the 15g/t at 54 metres that gives feed grades of ores that would be eventually blended with open pit grades. Having such underground grades for blending helps provide consistent output overall. Ore used from underground in a quarter production at Centamin peak days was near 7g/t. Other underground existing grades may be 3g/t. So blending just the underground grades from 15g/t to 6g/t is a decent volume of ore to go with open pit grade. The other open pits at 2.9g/t are quite effective in blending open pit as well especially as they have shallow depths to remove waste ore. It makes a big difference to Centamin to have 1g/t open grade being processed than having it at 0.7g/t. Certainly potential to deliver several quarters of reasonable gold output. It also helps replace depletion rates of the Centamin mine.
Latest on Proactive..
https://youtu.be/VZ7D3qlWM8Y
Agree goldgnome- gold price goes up and down as do markets- but growth is the most important thing for the long term and what has been sadly lacking
PaulM
There is a lot to like about the report, including the below, excuse my enthusiasm, but the underground expansion looks to be shaping up comfortably.
HIGHLIGHTS
· Sukari underground drilling. The underground exploration programme at Sukari continued to support our strategy of delineating the full potential of the underground orebody to deliver both mine life extension and operational expansion. Drilling was completed across all areas of the underground, including at Horus Deeps where drilling intersected the highest-grade mineralisation in that zone to date. Horus Deeps remains open to the north, south and down dip and represents the long-term future of the operation. Notable drill results include:
· Horus Deeps - 54m at 15.1g/t Au, including 3.8m at 161g/t Au and 2.15m at 44.84g/t Au MOUTH WATERING!
· Ptah - 23m at 7.2g/t Au, including 2m at 14.29g/t Au and 6m at 17.72g/t Au MOUTH WATERING!
· Amun - 17m at 9.6g/t Au, including 1m at 136g/t Au
· Amun - 8.5m at 7.6g/t Au, including 1m at 52.8g/t Au
obviously a lot of high grade, but interesitng to see how they want to mine this ...
· 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 in the near-term. Drilling highlights include:
· 10m at 64g/t Au, including 2m at 199g/t Au MOUTH WATERING!
· 4.5m at 267g/t Au, including 4m at 301.29g/t Au MOUTH WATERING!
· 17m at 12.5g/t Au, including 2.5m at 6.84g/t Au and 4m at 47.09g/t Au
· Sukari surface exploration. An exploration programme has identified multiple shallow open pit gold satellite targets within the mining concession which have the potential to supplement Sukari mill feed, in the short to medium term, improving operational flexibility. Initial drill results from two of the newly identified areas include:
· Wadi Alam - 22m at 2.9g/t Au from 41m A NICE START
· V Shear East 10m at 2.9g/t Au from 41m DITTO
AND I WILL TAKE A PUNT ON DOROPO STARTING AT 200K OUNCES PER ANNUM IN 2024, WHICH WILL RAISE CEY PRODUCTION, TO 700K OUNCES PA, AND THEN THEY HAVE ABC COMING DOWN THE BACK STRAITS.
LOOKS A VERY ATTRACTIVE GROWTH PROFILE.
best
the gnome
News @ last lol
I'd like to know from one or two of the chaps who know about such things what they make of this update and the figures it contains. We could do with some good news!
I did notice that they mentioned the full 160 km area so Im guessing that is no longer really in dispute and there is no rush (RUSH!!! ha ha) for the courts to sort out the "ongoing" court case about the disputed area?
Any knowledgable views on today’s RNS exploration update and whether it is as expected or better or worse? Thanks
Sadly I think British internal politics has little effect on the gold price any more, we are now less than 2.5% of the world economy, USA and its interest rates etc are a different matter
Centamin announces an update summarising progress on the ongoing exploration initiatives across it's prospective portfolio in Egypt and West Africa. The work completed so far this year has successfully identified the potential for satellite open pit ore sources within the Sukari concession and extensions of the Sukari underground orebody, inclusive of high grade Bonanza zones.
MARTIN HORGAN, CEO, commented: "The team at Sukari continues to deliver excellent results which demonstrate the quality of our portfolio - positive drill results have demonstrated the upside potential in the orebody that can support both life of mine extensions and an increase in underground production . Across the broader concession we identified shallow satellite surface targets, potentially adding growth and operational flexibility to our mine plan, and completed the first airborne geophysical survey in Egypt - a milestone for Centamin and Egypt's hard rock sector.
We also made excellent progress across our organic pipeline of projects that offer growth and diversification. The Pre-feasibility Study at Doropo progressed well with drilling focussed on both converting existing Inferred Resources to Indicated Resources and testing newly identified growth targets. During Q2, field work commenced in our highly prospective Eastern Desert exploration licences. With over 20 years of operating history in Egypt, Centamin is uniquely positioned to deliver the significant potential of the licences in the most cost-effective way."
Equities in Europe traded higher in the premarket on Thursday after the United States Federal Reserve reaffirmed its readiness to adopt a "more restrictive" if inflation continues to rise. The institution also noted the necessity of bringing inflation back to the target of 2% and implementing the steps needed to achieve that goal.
The DAX rose by 1.07% at 7:05 am CET. The FTSE 100 advanced by 1.03% at the same time, while the CAC 40 grew by 1.13%.
The euro gained 0.25% to the dollar at 7:08 am CET to sell for $1.02080. A minute later, the pound sterling went up by 0.25% against the greenback to change hands for $1.19538.
Baha Breaking News (BBN) / JR
One does pause to wonder why the US seems so focussed on yet another regime change when they have an unenviable record of picking the wrong horse, and creating a worse sitauation than that that existed before. Some, of course never learn.
And now we see yet another well worn path of failure, with the sanctions, which are adding to the pandemonium created by the pandemic. Who will suffer the most, and who will benefit?
Sanctions on Russian gold will have even less impact on Putin's war effort. A little like the LBMA "sanctions" on artisinal gold sourced from conflict zones or alike, which simply means the gold goes to willing buyers/processers by another route, without the blink of an eye.
"Compared to oil and gas, [gold] is their third largest or one of the largest export items. I don't think it's that consequential, just like with oil and gas. I imagine that Russia will find another home for it," ..... Pointing out that Russia has in fact been adding to its own gold reserves.
However, long-term, investors can expect an erosion of the dollar's strength. Weaponizing the U.S. dollar is going to damage its status in the long-term as the sole global reserve currency. Damage that is long overdue in my humble opinion. At best an exhorbitant legacy and privilege of years well and truly past.
In gold I trust long term, a bit like the Central Banks,
the gold gnome