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Following all other PMs today.
The only way is UP!!
Indicators at oversold and Gold is bullish again so there is only one way for the share price UP.
Resume of SP movement:
The tide has been turning for the last couple of days but today is the day for the big push.
The order book has been strong after opening and keeps this way till now as the share price is rising.
3 days chart ... https://uk.advfn.com/p.php?pid=legacyintra&epic=gdr&type=1&size=2&period=c&freq=1&ind_type1=0&ind1_1=&ind2_1=&olx_1=&scheme=&delay_indices=1
Hi Dasut,
Thank you for taking the trouble to submit those questions , I must admit to also asking some of the same questions. or along those lines, in particular about the open pit on a couple of previous occasion via I.R.
Fair comments Halfpenny,
I hope that you are right,
However in the past we were in some respects treated like mushrooms (kept in the dark) so we mustn't be complacent and continue to ask questions as part of our quest for transparency
Cowichan glad at least you had replies to a couple of your questions it does at least prove that we can access the board.
Unfortunately I had an appointment at 2pm yesterday so very disappointed that there is no transcript of the Q&A's so no idea whether my questions were asked and answered.
I have registered my disappointment to Centamin so hopefully in the future they will record the presentation.
If you or anyone else did listen in my questions were as follows do you know if they were asked and answered : -
"Since the issue relating to the instability of the west wall we as investors have seen the value of our investment more than halved.
“Exactly” when are we to see a strip ratio in the open pit at Sukari that resembles what is acceptable for a profitable mine?
The resource at Batie West in Burkina Faso said to be non core had an exploitation license valid until November 2021 so does this impact on the value and if so by how much and when are you going to realise a value for this resource? Are you under pressure from the BF Government to develop the resource or pass it back to them for development by another mining company?"
Give the man a chance. As stated by Mr Horgan for example if the Doropo premium isn't factored into the sp later this year, which it currently is not, then share buybacks are on the cards. 2021 was obviously annus horribilis but this was as stated the reset year. 5c is the minimum divi for this year and Doropo may be a game changer so let's see.
Quite so Stock, lets hope the BOD & Martin feel the same way, if not why not?
So if Martin Horgan and the rest of the BOD are reading this over to you!
Fair comments Dealts,
Lets face it buying a million shares is small change to Martin Horgan & Ross Jerrard and others could buy meaningful amounts, surely if they have any confidence in their new strategy as they have the potential to double their initial stake in two years or so if the bullish statements are to be believed.
Bullish statements are fine, but in this case much harder to belive as we have been given far too much "Bullsh*t" for so long previously!
its "Bullish results that are required now and some demonstration that the BOD believe in what they are telling us shareholders!
European markets mostly rose in premarket trading as investors awaited preliminary PMI data and continued to focus on the Ukraine conflict. Overnight, reports emerged the United States is preparing its strategy in case Russia uses chemical, biological or nuclear weapons in Ukraine.
The FTSE 100 increased 0.25% at 8:00 am CET, the CAC 40 added 0.12% at 8:01 am CET, while the DAX traded flat at the same time.
The euro fell 0.17% against the dollar to sell for 1.09837 at 8:02 am CET and the pound lost 0.07% compared to the US currency to go for 1.31956 at the same time.
Baha Breaking the News (BBN) / NP
Well Tibbs, I am getting a little worried now as your posts were generally optimistic, it seems even your patience is wearing thin,mine has been like tissue paper now for ages, been here far to long after buying in the very high pounds many years ago feel let down by endless promises that never fully deliver, oh well glad you are back,so keep posting. Always interested in other opinions also, and has been stated the directors should be showing their commitment in purchasing shares at these supposed bargain prices! If they dont think its a good buy why should we. I wish all well.
I have topped upped. Can't fault what I have seen. I can understand shareholders who bought in at £2 per share being unhappy. Buying in at sub £1 is a no brainer in my view. DYOR
Sotolo - another two valuable posts today. Rarely appreciated but invariably accurate. Having been in and out of CEY (though not a trader) in recent years and having managed to get out PDQ with comforting profits when the wall problem became apparent, I now feel that CEY is more than well worth a medium/long term investment at this price. Like many of you, I wish Horgan did also.
Hi Mr Bond,
Baron Rothschild, an 18th-century British nobleman and member of the Rothschild banking family, is credited with saying that "the time to buy is when there's blood in the streets."
He should know. Rothschild made a fortune buying in the panic that followed the Battle of Waterloo against Napoleon. But that's not the whole story. The original quote is believed to be "Buy when there's blood in the streets, even if the blood is your own."
This is contrarian investing at its heart--the strongly held belief that the worse things seem in the market, the better the opportunities are for profit.
Most people only want winners in their portfolios, but as Warren Buffett warned, "You pay a very high price in the stock market for a cheery consensus." In other words, if everyone agrees with your investment decision, it's probably not a good one.
This will fly tommrow!
Well as the mine is producing less gold than it was previously claimed to be capable of , (remember 560,000- 600,000 oz p.a so it seems logical as they are extracting less per annum then what gold there is will last longer, so extending the mine life!
It's much easier to be spot on when the output/performance isn't what it was once cracked up to be!
Sotolo ,I agree overall.
A surprise no doubt.
As Buffet always says buy when the blood is on the streets.
This year in particular will be like that, with sheep panicking.
Gopd health to you and may you recover to yours and mine ,on paper , value.
In reality the value of the mine has not diminished.
What on earth could they possibility justifiably be awarded bonuses for after halving the share price and dividend?
Certainly not for increasing share holder value!
How many times have we been presented with "Bullish statements " in the past only the a few weeks/months later be presented with guidance warnings or other letdowns and excuses!
Its "Bullish Results that are absent at present , when are we going to see actual evidence that things are improving?
Martin Horgan is a great salesman who could sell ice to Eskimo's and sand to Egyptians, but its gold that's needed, lots of it at reduced AISC!
Quite so Marmot, I think that there was some inaccuracies /confusion or jiggery pokery included in that estimate of how many share have directors actually purchased !
Nomad, nor have I seen such low sentiment here, but that for me is a good contrarian sign; over the past 18 months as I have been a near loan voice calling Centamin down from over 200 I was criticised for pessimism by the Panglossian and wishful thinking holders, looking back to how we mined, not forwards. Now I call a bottom as so many are now negative here, looking back at these horrid times, I am criticised for being over positive. However I am hoping I shall be calling this share up for the next couple of years and Horgan's shareholding is immaterial. Of course I may well be wrong, but sell when all are buying and buy when all are selling seems to work as long as don't jump the gun. Well this is now down 60%. Yes it will have used up the cash and yes it may raise money but as halfpenny points out it pays to invest and if that is n Egypt that it knows a rather necessary thing, the mine life keeps extending, the board that has been pretty spot on with its guidance says costs should tumble and we should end up a rare Tier 1 miner, I'd hold on for the ride.
Horgan and Gerrard got 59% bonuses for 2020 plus very generous share options. The year's performance highlights were flat production and the pit wall slab slide. The share price set a record high(on gold's rally) but closed the year 123.70p, unchanged from Horgan's appointment.
Today Horgan presented a bullish outlook (albeit jam 2023-25) and described last year as a good year of resetting Sukari and W.Af prospects. No mention was made of the woeful share price performance over the last 15 months below 120p and below the price when he joined the company. In an interview in late 2019, after he sold Toro, Horgan said the beauty of running a private company is you didn't have to worry about the share price. But as CEO of Centamin plc he doesn't talk up the value of gold or the share price.
Am I alone in expecting that Horgan and Gerrard will be awarded a higher salary bonus for 2021 ? But will they dare to award themselves more share options after cutting the dividend.
The choice : more corporate executive entitlement or steer a course of shared contribution and risk with long suffering loyal shareholders?
Two of my four submitted questions were addressed.
1) The HiSeis 2D survey was apparently a proof of concept - the zones of mineralization meant to confirm what they already knew was present (to the extent they knew - how they knew - and why these zones aren't included in current resource presentations remains a mystery)
But if we take this answer at face value it would seem the original HiSeis undertaking was purely superfluous -which lines up well with the board's historical record of approving projects that lack oversight, planning and ultimately execution.
2) Mr Horgan did not personally host a Sukari tour for Barrick. I'll not pick that statement apart. All I will add is that Mr Horgan acknowledge a couple recent key former Barrick employee hires. I documented six individuals while another source close to Centamin recently confirmed in excess of ten former Barrick hires. Make of that what you will.
All in all kudos to Alex and Martin for hosting this investor meet presentation. I hope they will continue to engage using this convenient format. Best wishes to Alex in particular who will soon be a new mum ;-)
As to the questions that did not get addressed - hopefully they will soon be rendered irrelevant with some positive results both on the production and exploration side of the business.
Free beer tommorow, but its tommorow equal to never.