We would love to hear your thoughts about our site and services, please take our survey here.
London South East prides itself on its community spirit, and in order to keep the chat section problem free, we ask all members to follow these simple rules. In these rules, we refer to ourselves as "we", "us", "our". The user of the website is referred to as "you" and "your".
By posting on our share chat boards you are agreeing to the following:
The IP address of all posts is recorded to aid in enforcing these conditions. As a user you agree to any information you have entered being stored in a database. You agree that we have the right to remove, edit, move or close any topic or board at any time should we see fit. You agree that we have the right to remove any post without notice. You agree that we have the right to suspend your account without notice.
Please note some users may not behave properly and may post content that is misleading, untrue or offensive.
It is not possible for us to fully monitor all content all of the time but where we have actually received notice of any content that is potentially misleading, untrue, offensive, unlawful, infringes third party rights or is potentially in breach of these terms and conditions, then we will review such content, decide whether to remove it from this website and act accordingly.
Premium Members are members that have a premium subscription with London South East. You can subscribe here.
London South East does not endorse such members, and posts should not be construed as advice and represent the opinions of the authors, not those of London South East Ltd, or its affiliates.
Yep, politics is like every other walk of life and cos humans are involved, there will never be consensus - it's impossible
Absolutely Always , there are lots of other forums to choose from if anyone wants to move out,
Although the information about Centamin on them is'nt really up to much and some of members are usually trying to outdo the other forum experts by boasting about their trading prowess whilst there is quite often some nasty sniping towards anyone who is honest enough to admit making a mistake, or should want to ask questions.
Having witnessed their behaviour at all levels and irrelevant of their party I couldn't disagree with your opinion halfpenny.
It has gotten far worse , it is custom and practice to lie, all that matters is to win!
Quite so Mr Bond,
You have been around the block enough times to know the score .
The idea that any investment or participation in the market casino can exist in some sort of isolation from the influences of the worlds governments political polices is naive to say the least, virtually every movement of the worlds market indices is a result of the effect of a release of some some data, or the media reaction to a governments decision or party political political policy which in turn influences the mood swings of the people and their behaviour ,which in turn influences companies/businesses operational decisions and policies .
However my reply to Mr Gnome was mainly regarding the latest political decisions and mood in Burkina Faso which recently Centamin decided to pull out of despite having spent many millions of dollars on exploration work and gathering we were led to believe very promising drill results.
In view of these recent recent political decisions the Burkina Faso region may become more stable and the Centamin exploration work already done make the prospect of fully developing a gold mine appear to be a much more attractive proposition for other miners to pick up, although sadly Centamin shareholders will have lost out!
I aways say the definition of a politician is snout in trough.
3 bear you made me smile
Anyway, Horgan needs to ensure we have some positive news, please ............
MMmmmm
Good 500000 buy at close of bell.
It would be a pity for anyone to go from this BB
Even though some comments get up many persons noses.
Shame Deepjoy won't read your message has he won't be on this board anymore to read it
I agree 100% with you deepjoy
Well that's me done on this board.. one subject that really gets my goat is people going on about politics. They ARE all corrupt some less than others is not a reason to read this rubbish. Bye
Hi Mr Gnome,
I agree, certainly does'nt feel like the supposed democracy in the UK is anything to inflict on anyone else especially considering the lies that were told pre and post election and by our present prime minister and his cabinet !
But that said the leader of the only opposition that could win enough seats to form government due to our unfit for purpose "First the post" electrical system hasn't got the balls to state the main reason the UK is in a mess is a result of "Brexit" and Boris's "Oven Ready Deal" that never was and will never be achievable!
Instead Labour leader Kier Starmer in the hope that he won't upset those "Sheeple and Brexiteers" who voted in "Billy Liar" will announce proposals to make Brexit workable when in reality his proposals will be just be another fudge that will not be acceptable to anyone!
https://www.bbc.co.uk/news/uk-politics-62034754
https://www.thenational.scot/news/20253407.labour-leader-keir-starmer-unveil-plan-make-brexit-work/
https://inews.co.uk/opinion/keir-starmer-advocating-second-referendum-brexit-1721731
I've been in touch with Mystic Meg, the man down the pub and Tim the magic tortoise. Their guess on Q2 numbers as follows:
Production 107,000oz
Revenue $181m (98,000oz sold at $1850)
AISC US$125m
AISC/oz sold US$1275
Anyone else got a clue what we might be getting?
Don't bring politics into it Mr T ... only causes more bad feeling and there is enough in the market already.
Hi Mr Gnome,
I agree, certainly does'nt feel like the supposed democracy in the UK is anything to inflict on anyone else especially considering the lies that were told pre and post election and by our present prime minister and his cabinet !
But that said the leader of the only opposition that could win enough seats to form government due to our unfit for purpose "First the post" electrical system hasn't got he balls to state the main reason the UK is in a mess is a result of "Brexit" and Boris's "Oven Ready Deal" that never wa
Q2 AISC should be around $1250/oz if he's going to hit mid-guidance of $1350/oz for FY2022
Yes, Mr T is the doyen of Cey
Todays crossword clue . Seizes, wrongfully (6)answer a word never hear of - Usurps
Wondering if that fits with the situation " Malis military regime .......just a crossing thought, anyhow sold Fri trade now kept profit in shares
Agree-
Alas so- but democracy is the best of all options
Q1 revenue was US$174.6m
AISC was US$144m.2m
Deferred capex from Q4 2021, exploration and royalty fees meant the company made a US$21.5m loss in Q1.
Q2 should be better
I often think there must be a better way than Western style democracy for West Africans.
You tend to get incompetent corrupt govts elected which after a few years, everyone gets p$seed off with, protests start politey and then get rough, which gets nowhere and then a coup de'tat..rinse and repeat
the gnome
If Horgan is going to hit the middle of his full year guidance then Q2 production should be somewhere between 105-110000 ozs. AISC for the quarter should fall markedly, both as a function of more ounces produced and lower capex (circa $50million v $72m in Q1). Fingers crossed for some good news and a lift in the SP on July 20.
Thanks Mr. T, on the ball as always :-).
Burkina Faso to return to democracy-
West African leaders on Sunday lifted sanctions on Mali's military regime, accepting a March 2024 return to civilian rule and agreed to allow Burkina Faso two years for its transition back to democracy. https://www.france24.com/en/africa/20220703-west-african-bloc-assesses-sanctions-for-coup-hit-mali-guinea-and-burkina-faso
https://www.france24.com/en/africa/20220703-west-african-bloc-assesses-sanctions-for-coup-hit-mali-guinea-and-burkina-faso
https://www.bbc.co.uk/sounds/play/w172ykqynw90lf6
For newer share holders or to refresh other share holders memory ,
Please see my post from 29/06/2016-
The profit share EMRA is the joint venture partner, ie the government, sits in the 50% owned subsidiary Sukari Gold Mines.
The management board of this subsidiary has representatives of the government and an equal number from Centamin.
All of the investment into the Sukari mine is audited, with Sukari Gold Mines very much being a part of this process.
Similarly, all gold sales go through Sukari Gold Mines, where the operating surplus will be divided 50/50 between the government and Centamin, once the original capital has been repaid back to Centamin and its shareholders.
The 3% royalty has been paid to the Egyptian Treasury ever since production started (this also goes through SGM).
With the above in mind, there is no issue with regards to the money that has been ploughed into Sukari, particularly the costs of Stage 4 (c.$350m) – this needs to be recouped before any of this operating surplus can be shared.
This is not due to kick in until later this year, or possibly in Q1/Q2 next year.
It is all a function of the ramp up in production and the gold price.
There is no dispute between Centamin, the Egyptian government and/or EMRA, nor the 50/50 Sukari Gold Mines subsidiary.
What you are getting is probably a series of people mouthing off that they want profit share now. This is a political game more than anything, as the deal is the deal (in fact Centamin have advanced the country a few million dollars as a demonstration of their faith in this deal – this will also be recouped out of future operating surpluses due to the government).
What is wonderful is that very few people seem to understand what this 50/50 deal is – it is effectively a 50% tax on free cash flow. In fact the 50% will not kick in until 2016, as in 2015 this will be 45%.
To counter this there is no VAT, no corporation tax, no other taxes to pay all beyond the above and the royalty, which on a blended rate compares reasonably well with other 1st world mining jurisdictions (like the US, Australia, Northern Europe etc).
I find the quote “2021 will be seen as a transformational year for the company” to be a little bit off the mark - it is certainly not my view of the year :)