Centamin PLC Share Chat (CEY)

Dealts, I feel much the same. been here for a while & locked in at a higher price. Hope we reject the offer, but all the board member swapping looks dodgy. All that certainly not ethical, but probably legalish in this very crooked trading world.

Well must say really fed up,I too was looking forward to an upturn in our fortunes but must admit getting uneasy about the future, I too have been her for many years and never envisaged that the end game could be close. the thought that I may be forced to sell up with a poultry offer feels me with frustration that loyalty again means nothing! Lets hope the cavalry is over the hill to rescue us (in the form of another offer) Looks like it only happens in films though. Fingers crossed. G.L.A.

Why don’t Cey make themselves less attractive by paying all the free cash flow out in a year end dividend of 20 p a share

As I said Sotolo the likes of us retail investors usually lose out big time with this type of mergers /take overs .
If Endeavour succeed with this take over then all of us long term holders will get shafted, we will have remained true to the stock for over a decade and it will have all have been for nothing!
Forget what some seem to think that this is a good thing, it really isn't unless of course you are on the board of Endeavour, Mr Sawaris , a market maker or a broker.
All the claims made by Endeavour about the advantages of this take over are flawed . they know it and the likes of RBC, Black Rock & Co care not a jot!
As already pointed out on here some of the big institutional holders in both stocks will have been loaning out their CEY stock to shorter's to kick us in the crutch!
The actions by Endeaour is not to celebrated by any retail investor in Centamin, it is pants, pants & more pants and they will have our pants down i they succeed!

With the amount of cash that Crntamin have spare they could easily open a long CFD in Cey leveraged up 10%-20% with negotiate voting rights and blow all these shorts out of the water!

Yes Cey back below even the very basic offer price which is now £1.185. I just hope endeavour don’t manage to buy it (sorry merge) at this derisory price as the Cey holding institutions are happy to have Centamin subsumed in Endeavour which they also hold, along with its cash and cash generation, on the cheap. Also stockbrokers have confirmed I can’t own Endeavour shares so unless they get another listing means lots of us will be forced sellers pushing down the price just when we are forced to sell. And it takes so long to transfer shares.

I just added more today had a hard time adding to my holding. I have a good feeling it is time to buy while the market is in between different type and reasons of transactions. At least I will reduce my losses, I hope so...

GLTA,
Dan

Phil and Lynne I have always thought the same - do they actually always go through. i.e. When Acacia got sold off to Barrick -Blackrock moved their holdings around and used some of their shareholdings for financial instruments and loans the percentages of their shareholdings with voting right reduced as they moved a small percentage over to financial instruments which happened to be exactly the same percentage (surely by pure chance???) as Marshall Wace increased their shorts, and then when MW reduced a reversal took place. Someone explained that B/Rock could get paid a commission for the sale and charge on the loan, MW get paid for the difference if any that they make when the shares are passed back to voting rights? It could be therefore that the price is affected on voting rights, but no actual sale goes through? Allegedly?

Wow. Really taking a hammering now. Didn’t think we’d see £1.15 again.

Just curious if anyone knows. Do short sales show up in the trades. Looking currently, there are more buys than sells, Gold is up nearly 1.5% in the £, yet share price is down over 2.5%. Maybe the shorts do not register as Share Trades?? Any Ideas??
Thanks

Ultra - and Mr T thanks for your comments - I am pleased to see that you agree it would appear we are being shorted by foreign clients which is holding our price down. Keeping looking at the RNS releases to make up your own opinion on this. I found the unowned Acacia shares were being purchased by Barrick (also based in Canada) we even found a London market capital investment co. being used for their consulting by Acacia had a South African office shorting for a Canadian client which was not recorded on short tracker being only for Uk based Comps? A very close market we work in however and I stand by the fact our share price should be 10 to 20p a share higher at this stage. This share is a gamble like any other share. I keep watching the Gold price and feel this could go higher too. I also await the 4th qtr production figs, wait for defensive comments from the BOD and keep my fingers crossed which is all one can do. If volumes are low the shorters actually have more of an impact not less which is another mistake some on here may need to consider IMHO.

Mrtibbles - thank you much appreciated

Yes mrtibbles, agree also because investors selling and buying at the same time for tax reduction purposes, they are loosing nothing but gaining tax losses for next year or lower there taxes for what they gain during the year. It is legal transition to do.

GLTA,
Dan

Yes Dasut another couple of reasons most probably not even considered by the MM & brokers that only those with the mining experience such as you would be aware of.
But then a week is long term investing as far as many brokers are concerned, its not about understanding the long term fundamentals of the investment ,it's just about using hype and panic to churn the shares and make trading commission!

Forget the sale, the offer is absolute pants from a desperate company!
If by any chance it did go through on these terms or even slightly better then I very much doubt it would benefit Centamin share holders

Ultrainvstor,
Remember as Cowichan also pointed out trading volumes this time of the year are exceptionally low indeed,so the trades that do take place effect on the indices are greatly amplified.
Try to stay calm, you may well see many of these positions closed as things close down for Christmas.

Dasut

Lack of underground mining Management and general experience is a major worry, this is hard to come by.

best
the gnoome

Tibbs, All
I have scanned Endeavour's web site and not sure why the Mali mine doesn't contribute anymore and like Centamin their annual production fell and I don't see any experience as far as underground is concerned.
They do however have experience using Contractors on open pit and also owner mining so good for developing new West African projects but this is only a minor plus as Jeremy will also have the same experience. Also there are several Mining contractors that could quite easily take on a new development such as Doropo.
My worry would be lack of knowledge on underground and Centamin's Sukari resource is complex although rich.

Then in this instance the market is an "Ass".
I hive nothing against a tie up or partnership with the right unhedged, debt free company on the right or equal terms.
The proposal by Endeavour does not fulfill any of this criteria.
For Endeavour and its share holders to take control of 53% of the merged company is a take over
Centamin has untapped high quality and unexploited reserves in West Africa.
Endeavour has mediocre mines under attack or threatened by rebel factions.
Endeavour has huge debts and is desperate to feed on the cash pot of Centamin like a parasite on the underbelly of a camel.
If Endeavour take control then dividend payments as we have received in the past may well end and of course if the new company is not dual listed and on the London exchange then thousands of retail investors will have the added inconvenience and expense of having to transfer their holdings to a broker in another country.
My past experience of take overs like this has not been at all good and usually resulted in my shares being sold/dissolved or reduced in value by the predator parasite making the take over.
Of course the market makers ,brokers such as the likes of RBC are keen for actions like this because they make lots of commissions!
Economy of scale in a partnership with a company like Endeavour should not be entertained and should be avoided like the plague!

Does anyone know when the next production update will be?

It seems to be being shorted to me, everything the sp tries to go up it’s beaten down just my opinion

RazorsEdge - thank you for that!! Price seems to be coming down so far today even though there is some buying..I’ll wait and see what happens ATB

If the production is met a trip to the top of the trading range is likely. (1.55) if the production is missed the a trip down is to be expected but with the current interest of a takeover such a trip would be a feeble attempt.
I think the current price is about 3p off cheap. I also am not very impressed with the price action since the takeover by Endeavour became known.
Just my opinion.

Some advice please..

Does anyone think it’s worth while buying these now in the hope of a higher takeover price? My only worry is if the sale doesn’t go through and the price comes back down or the production target isn’t met

Any help from the knowledgeable would be appreciated

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