George Frangeskides, Exec-Chair at Alba Mineral Resources, discusses grades at the Clogau Gold Mine. Watch the full video here.
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I am also in favour the free press and social media however it seems only right that whatever is posted is based on the truth and those making the post are able to justify it with the supporting facts.
You may both be interested to note that the free press has supported the new EU proposed regulation on on social media and even the UK advertising standards authority.
Now why don't you both be honest about why you dislike this proposal so much ?
Europe’s new Digital Services Act
Here’s what the law will do when it goes into effect:
• Detoxify the algorithm ? Online platforms like Facebook will have to take responsibility for the harms they cause to our societies, for example, for the way their systems help spread toxic content across the internet;
• Open the black box ? Allow independent auditors, researchers and civil society to scrutinise platforms’ actions and uncover their wrongdoings.
• Impose big sanctions ? Platforms will face fines up to 6% of their global income (yes we're talking billions of dollars here) if they don’t comply with the rules.
• A step closer to stopping surveillance advertising ? Ban the targeting of people with ads based on their political beliefs or gender, and end the exploitation of children’s data entirely.
Thanks for clarifying that Cowichan, a buy-back of that magnitude wouldn’t overly damage our reserves and may help the share price, it certainly wouldn’t hurt - if the directors don’t want to put their own money in they can at least tip in some more of ours :)
As for the latest motto it is just another example of idiots jumping on whatever the latest bandwagon is and forgetting what they are actually paid to do.
One of the prime outcomes of education (my humble 2 bobs worth) is to give the educated persons the power to be able to see through the mountains of misinformation or manure, and discern the truth and the relevant.
Sadly, the education system has failed many, which does lead to one of the lead assumptions in democracy, ... each person one and equal vote being flawed. So in the end and as we experience it, we have a flawed political system, which produces such natterers and nutters and similarly flawed individuals as we see around the world in democraticised nations...and we get the ludicrous shenanigans that thinly passes for "politics"...lets invade Ukraine, regime change in Libya, Iraq, Afghanistan etc etc...
Lets tune up the education system
Twitter being worth us$45b about sums it up for me ... what a lot of twats
best
the gnome
Sotolo,
Thanks for your kind remarks.
It really comes down to people using this silly term' disinformation' to try to snuff out information they cannot accept. It is the modern day equivalent of putting your fingers in your ears and refusing to listen. I like being challenged by alternative viewpoints, it helps inform me.
As for PMs I still think we have the preconditions necessary for a significant bull run. I don't know how long the Fed will be able to prop up the dollar for but it will not be forever, and when they slacken off PMs will sparkle again.
86p here now, let's hope that long-term support has provided us with the bottom.
Pros and cons. If you were in Russia would you dare criticise Putin using your real name?
Could not agree more Cowichan. The board of Centamin looks
> relaxed and comfortable
> irrelevant
and is underperforming in its key duties to share holders
... lots of senior roles, and lots of professional experience, and member of the right professional societies and tea clubs, but rarely have been leaders and one would wonder how they define success...
I would like to see a large shake of the board and get in new people who are successful in areas of importance to the company.
just passing by
best
the gnome
Hi Spoonington,
Regarding a share repurchase — I too don't want to see Centamin's cash reserves depleted — but I think in Centamin's case just a little spending could go a long way. I would advocate an announcement to the market of management's intention to repurchase between 1 and 5 million shares a month for the next 12 months. It's prudent and hardly aggressive but it will serve to keep a floor under the share price and build momentum in the right direction.
I posted a chart on Twitter** comparing Centamin's performance vs VanEck Gold Miners ETF over the last 5 years. It's completely unconscionable that our board is okay with the last five year's performance (or ten!) and the current share price. As shareholders we must demand more — more accountability, more performance, more professionalism.
https://twitter.com/DonLawson_/status/1526336514535194625 **
Heck, a good example of the board's faulty thinking is the latest motto that Centamin's has apparently adopted (see the corporate website) '"Creating opportunity for people through responsible mining" That is *******s. Centamin is not an NGO or a non-profit accepting donations. The Centamin board is supposed to work in the best interest of shareholders to produce gold, make a profit and grow the business. Creating opportunity for people is a nice result - not the purpose. So whoever is coming up with these ever changing company motto statements must go — and if they don't we're well and truly screwed.
Leadership should come from our CEO and in this regard Mr Horgan must 'educate' the board as to why the company exists. Being a co-founder in his previous life he knows the current board needs a good shaking up - and one that must start immediately. We couldn't do much better if his first order of business was a moderate and responsible share repurchase - followed by changing that damn conceited Londoner elite motto into 'creating shareholder value through responsible mining'
But as always I welcome alternate views, thoughts and input from my fellow shareholders
Shares on the major stock market indexes in Europe traded with gains in the premarket on Tuesday, as the investors awaited the unemployment data from the United Kingdom, as well as an employment change report for the euro area.
The DAX was up by 0.69% at 7:08 am CET, while the CAC 40 added 0.45% at the same time. The FTSE 100 concurrently rose by 0.29%.
The euro strengthened 0.08% versus the dollar, selling for 1.04422 at 7:10 am CET, while the pound increased by 0.19% compared to the greenback, changing hands at 1.23430 at the same time.
Baha Breaking the News (BBN) / BU
Hi Cowichan
I agree with nearly all of your points (including previous posts) but I would not like to see a share buyback entered into as yet despite the glaring opportunity to benefit shareholders.
The big pile of cash we have (which I remind all was accumulated by the previous oft maligned management) is the only thing that has enabled us to get through this ludicrously drawn out remedial process.
I tend to err on the cautious side, wait until we actually see the repeated promises of productivity improvements come to fruition before we spend our lovely cash buffer.
Horgan’s hints towards the raising of debt at this stage scares me, this has the potential to completely destroy the value of what is a magnificent in-ground asset.
I understand completely your desire to take advantage of what a lot of us see to be a chronically undervalued share price but feel that the erosion of our cash buffer that a buy-back would require creates too great a level of risk compared to the reward.
All the best & please keep fighting for those of us too lazy to take other than a passive approach :)
Spoon
What are up against , The panama papers worth a watch and read if you have time 99% of the worlds wealth is owned by !% of the population forget the norm anything can be manipulated the opposite to what you may researching. I don't believe everything I read but I have spent many hours in my rocking chair reading these papers and its extremely disturbing the wealthiest can manipulate more than any government . Don't take my word its all out there.
I agree with free speech but not in total anonymity...if you want to say a thing then you need to own it as you.
Dr Jamain, how heartening to read such a literate post, whether I agree with it or not, which is really its point. It is the dialectic of views on gold and Centamin, and the tolerance of these from most, that makes this board so useful unlike many. Will gold fall further after this brief respite, as seems most likely, or will the day finally come when Andrew MaGuire is proved right even if just by the laws of chance, and gold soars….? Will Centamin contol costs faster than gold falls and inflation rises, which seems unlikely, or will the optimists who look for a doubled share price be proved right? My only hope, against real interest rates now rising, is that sentiment is getting so bearish even here that at some point all the sellers will be out and gold turn up, but not yet imho. Thanks again Dr Jamain for your defence of a free press and the fourth estate, one of the vital pillars of liberty. We have always had ‘fake’ , and certainly highly partial and opinionated, news from the Northcliffe Press more than a century ago to the National Enquirer or the Daily Star, even the government in the war, but the more free press we have the more honest voices can shout against this unlike countries where voices are limited from Russia to China, and investors have a harder life.
Want the dollar below 103.5 that should show it was a false break out and send it to its own intermediate low and with how far it was stretched above the 200 day it's about time....if that happens gives us about 2 months of a falling dollar while it heads back to turn the 200 day downwards and then break it....anything always heads back to its 200 day eventually
A bit early to call but with a $40 swing today that might be the intermediate cycle low...just need the dollar to roll over to confirm it
You may care to call it censorship, it really isn't, users will still have the right to free speech.
Sadly there are a great many social media users who simply don't question the credibility of what they read or the motives of those that post the misinformation.
Also the social media platforms should be made more easily contactable and accountable in law!
If anyone wants to post opinions on line then they should be required to post under their own name and a verifiable email address, even on forums such as this one.
Lets see how many would suddenly disappear once they are required red to stand by their opinions and statements, how many would disappear off this forum I wonder?
Big respect to Donald Lawson for having the integrity to identify himself when making his views known!
There are some on here who claim to put hings in writing to Centamin the reality is quite different,possibly because they lack the courage and integrity to stand by their convictions !
and so it the ££
meanwhile gold is moving - UP !
Mr T,
I'm not going to get into the rights and wrongs of Brexit, Trump, Ukraine, Covid etc. There is plenty of information out there from official and unofficial sources that lead to diverse opinions - and that is how it should be.
Clearly online bullying, harassment, paedophilic content etc needs to be policed - and it is currently. Good.
However plurality of opinion and free access to a wide variety of information and sources is the lifeblood of a healthy culture. You may believe things I disagree with but I absolutely defend your right to believe them and talk about them. We can then debate and the dialectic we have will enrich us both.
This dialetical approach is how science, politics, the arts and all other forms of human enterprise remain vigorous and healthy. No science is ever 'settled' and that is true for all other areas - to say otherwise is to descend into dogma - and that is the lifeblood of authoritarianism.
I am really concerned that a narrow orthodoxy is being foisted on us all - Orwell saw it and raised the alarm, others need to see it clearly now. The powers being taken currently may be in benign hands now, but that is no guarantee for the future.
Dr Jamain,
You don't mind reading the misinformation that is posted on social media?
The safeguards you mention are clearly inadequate otherwise Donald Trump wouldn't have been able to incite civil disobedience and riot in the USA capital.
Boris Johnson & Nigel Farage wouldn't have been able to mislead and misinform the UK electorate over the issues and repercussions of Brexit as they did!
This is a great initiative, social media users in the main are blissfully ignorant of just how manipulated they are.
You may not be aware but as things stand in the UK virtually all social media posts to politicians are ignored because they are posted under aliases, or simply don't comply with parliamentary protocols.
So you see the legitimate debate in Parliament never takes place and the sender of such messages is just not replied to.
Social media giants should obligated to verify every account - and only issue accounts to real people - no anonymity!
After all if one has a strong view or opinion on something then they should have the integrity to post it under their own name!
That one step alone would ensure much less abuse and misinformation .
I absolutely agree that free speech should be protected, however what is the point of free speech for those who aren't prepared to have the courage or integrity to identify themselves? Some form of social media monitoring - as imperfect as it may be - is certainly needed and better than none !
I believe Cowichan makes an important point highlighting the continual flow of 'Bad-news' and the apparent suppression of 'Good'.- It would be easy to think that this is an 'Orchestrated' script. - It's gotten to the point where all news announcements are turning out to be killers.
If they do reply in order to avoid being accused of having something to hide, the veracity of the reply will have to be properly supported. - Therein may lie the problem I'm thinking. - In which case, in expectation, don't hold your breath.
Three Actions Centamin PLC Must Take To Regain Shareholder Trust
1) Release the 2018, 2019 & 2020 drill results (and resource estimates) for the Quartz Ridge & V Shear gold deposits adjacent #Sukari in Egypt. These 'mine-style gold mineralization' ore bodies (management's own language from 2019 Annual Results) are apparently 'hosted by a porphyry unit that has characteristics similar to the Sukari porphyry' So why is the board still hiding this information from shareholders?
2) Release the 2019/2020 Sukari step-out drilling results (see diagram below) which either confirm or refute management's assertion that the Sukari ore body is open along strike. #Centamin shareholders SHOULD NOT be the last to view this data. Centamin's share price has been systematically lowered through allowing the 'bad news' to flow (pit wall movement) and withholding potentially positive news - like the results of this 10,000 meter step-out drilling campaign. This information is material & management is woefully negligent for it being withheld.
3) Implement a share buyback program immediately. Year after year shareholders vote to authorize share repurchases and year after year the board refuses to implement. There are but two reasons the board consistently refuse:
a) the board doesn't believe in its ability to extract value
or
b) some 3rd party wants to keep the share price depressed
Given there are so few long-life tier-one assets like #Sukari a means to bolster the current share price must be found. That is unless it is the board's intention to allow a Barrick Gold Corporation, Newmont Corporation, Harmony Gold Mining Company Limited to make an offer at this artificially depressed value?
Thurlow Williams Brian Nguyen, P.Eng. Colin Thomson Davies Ward Phillips & Vineberg LLP Andrew Malim Simon Morris Bexultan Seisembayev Moaad Taufik Simon El Beze Nicholas Hambleton Varun Talwar Gareth Penny Richard Hatch Lilly Wilson Martin Page Iain Duncan VanEck Europe Standard Life UK RBC Capital Markets Scotiabank Capital Trust Martin Horgan Emilie Hodson Ross Jerrard
https://www.linkedin.com/posts/don-lawson-98619370_sukari-centamin-sukari-activity-6930974548267859968-MehL?
------------------------------------------>>>>
Note: Still no reply from Centamin's new Investor Relations person re: step-out drill results, etc. It should not be so impossible to get answers from a LSE listed company - perhaps Centamin doesn't merit a London listing?
Wonder if the bottom if finally in. Cey looking strong bouncing off that 5 year support and ignoring the further decline in gold. Expecting gold to turn around this week as the dollar bounces off that triple top.....fingers crossed anyway
Legislation to curb free speech online is a VERY dangerous road.
Definitions of what is 'misinformation' or 'offensive' will be open to political control.
We already have legal protections in place for grooming, harassment, hate speech etc.
This is designed to shut down legitimate debate and leave the way open for statism and propaganda. It is only good for control freaks.
Why do we need any form of legislation in this area which essentially is simply a form of censorship? Why can’t we expect people to exercise a modicum of common sense in processing what they read/see on social media instead of blindly following it? Is it that we as a society have just become mindless morons?
(You need not answer the last question I think that one is obvious)