The latest Investing Matters Podcast episode featuring financial educator and author Jared Dillian has been released. Listen here.
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MrTibbles, Sir, Some first class informative and entertaining posts. They really are very good.
A few posts have been about gas, and as it's the W/E, perhaps I may be forgiven for posting a non-gold topic. I heard recently, which I was totally unaware of, that Israel has a deep sea gas field Tamar with proven reserves of 200 billion m3 of gas. That is remarkable enough. But I heard that forward planning includes pipelines to Greece and Italy to tap into European consumers and replace Russian gas supply in Europe. There is bound to be some very serious competition in that case as both gas supplier nations vie for economic dominance.
Hi Cowichan, nice update, can only agree with your conclusion!
Hi Bobliz,
Personally I very much agree with your opinion of Martin Horgan.
CAIRO - 30 March 2022: Minister of Petroleum and Mineral Resource Tarek el Molla on Tuesday discussed in a meeting with Peter Steenkamp, Chairman of South Africa's largest mining company, Harmony Gold, the investment opportunities available in mining and gold exploration, in light of the company's strong desire to invest in Egypt.
Harmony Gold Company is seeking to expand its business portfolio outside South Africa and Australia and is willing to invest in gold exploration in Egypt, Steenkamp said.
Harmony chairman praised the major transformation in Egypt's mining field, in light of the attractive investment climate provided through the recent amendments to the mineral wealth act.
https://www.egypttoday.com/Article/3/114361/South-Africa-s-largest-mining-company-eyes-investing-in-Egypt
--------------------------->>>>
My Thoughts:
South Africa has been such a pain-in-butt country to try and run a business this last decade with legacy mines, labor unrest, power outages, water shortages and general disarray - Egypt would seem a walk-in-the-park...
Hi Tibbs
As usual very succinct and well informed information on CEY.
My personal view is that Horgan is playing a blinder. As I have said here before he has accumulated more than sufficient personal wealth as not to be motivated by monetary gain. His previous resistance to severe pressure to float his start up company was both courageous and insightful. I (as I said personal view only) is that status in the business and more especially the mining industry is his prime motivation. As such keeping your powder dry , share price on the floor and then at the right time release the brakes in an ascendant and acclaimed way is where I see the present situation.
More power to the day traders assisting the long term plan but those who post on here are spread betters or trading the wrong side of the book and will join the 60+% who have no concept of the mantra CAPITAL PROTECTION AT ALL TIMES and eventually succumb to the professionals picking their pockets.
Good wishes to all here
Bob
Many a true word spoken in jest Mr Bond!
I wouldn't be at all surprised to learn that some are already putting rumours about to discredit him for expressing such conspiracy theories and being anti American by exposing too much to potential aggressors!
Spot on Mr Bond, don't come any better than Cornish bred miners!
Cheers Mr T
As for the Barrick recruits , I noticed at least one had attended the Cambourne School of Mining, still one of the best wordwide.
Mr Tibbles .
I didnt find David Tice very communcative.
Propably because of the political climate in the US , he is probably worried about Sanctions on himself , haha .
But cant say I blame him.
Hi Halfpenny,
I have a pub friend who works in a mining related industry in Egypt and they get to hear some of whats going on at the sharp end at Sukari as it were.
I don't want to drop anyone in it and obviously this is only what I have heard word of mouth and in good faith, it seems that the previous at the pit face/open pit crews were to say the least certainly not as well managed or incentivized as they should have been and most certainly failed to exploit the riches/reserves in certain areas of Sukari as well as they should have done, and completely missed some!
Since the new management took over the true future and indeed what was overlooked in the past is becoming ever more apparent and hopefully bodes well for the future.
"One that has been swept under the carpet was Cleopatra and the money spent there and why Ross jerrard is still there.?" highlighted in the past by Cowichan
It seems that certain top level employees agree with some of the issues Cowichan has raised in the past (such as the suppressed HiSeis 2D survey, etc) there must be good reasons to question what has been going on at Sukari in the past .?
"Sukari is supposed to be a teir 1 asset and agree it's not the best team to run the asset, there senior management tab on there web site is testament to that
Off site overheads are high as compared against there peers although there official office is in Jersey there is a satellite office in London.
Martin Horgan can sell ice to Eskimo's, he talks the talk, but does he walk the walk, that said with in excess of 10 expatriate staff from Barrick he seems determined to bringing in the much needed expertise and enthusiasm to deliver on his stated objectives!
Oops just realized that's for 2012, but the output is rising.....doh!
https://moneyweek.com/22331/centamin-doubles-profits-after-record-quarter-120130-0818-20746
100250, 103500, 107000 you get my drift?
EP.67: LFTV - Gold traded for Russian Oil? Paper market left behind. Feat. David Tice
In this week’s Live from the Vault, Andrew Maguire is joined by gold and silver mining stock expert, David Tice, well-known for founding and directing the Prudent Bear Fund (BEARX).
The two precious metals advocates weigh in on reports of Russia trading oil for physical gold, an economic shift with the potential to turn the paper market on its head.
Timestamps
00:00 Start
02:30 David Tice - Who is he and what is his background?
04:30 The Treasury yield curve inversion. What's going on?
05:25 Gold and silver mining - Why is Dave such a big believer?
07:30 Starving commodities. Russia is using gold to escape sanctions.
10:50 A word about paper, physical and stagflation.
12:15 Discounted Russian oil being traded for physical gold
14:50 The dissolution of the petrodollar
16:00 David loves silver in his portfolio!
17:00 Physical silver squeeze - is it possible to happen?
21:12 WallStreetSilver and the SLV Short Squeeze in February 2021
https://www.youtube.com/watch?v=bj9LfsuZEWk
Watch David Tice’s new documentary - GRID DOWN, POWER UP: https://youtu.be/KwBY90a997o
Or, visit https://griddownpowerup.com/
I shouldn't need to point this out, but for the sake of some please note-
"The opinions expressed in this video of Andrew Maguire and any guest,"
My thoughts are it'll be higher production than Q4 as they seem to have hit the ground running since their woes and subsequent quarters will also show improvement.
Let's hope so halfpenny!
If Q1 is equal or better than Q4 last year why wouldn't it be then up we will be.
Hi VonMoltke,
My wife's mother had a grandfather who held a commission in the Prussian cavalry and we also had an artist friend Elke who was of Prussian descent.
Anyway I wouldn't worry about nationalisation because the Egyptian government EMRA is already in a legally binding partnership(enshrined in law) with Centamin regarding the Sukari operation.
Also the Egyptian government is keen to reassure international investors that Egypt is a safe and stable country to set up business in, which is on e of the main reasons why the new mining laws were adopted.
Hi Tornado,
Fair comments indeed,
I recall a very down to earth factory superintendent my immediate boss at the time and at our weekly production meetings he would sometimes refer to his loft of racing pigeons saying how much he cared for them and how he always fed them the best corn, but then on occasions Lou would sometimes refer to some of the shop floor operators as not being worth their corn and that if they didn't improve then although we didn't want to do it we would need to wring some necks!
I am of the opinion that this is the case with our BOD & NED's!
My view of Centamin is that it is in a geostationary orbit over Egypt. Sometimes things move faster and the price goes up a little, soon to decelerate back to where it was. If you simply hold Centamin long term there's a distinct danger you end up out of pocket. That is why i try and make little bits where and when I can and squirrel them away. These amounts do add up with time. I'm back in the market today but couldn't extricate myself to effect. Probably one of the worse things that could happen is nationalisation by the Egyptian government. So Centamin has to keep them sweet. We need significant news which translates into extra bars of gold bullion for the price to move, or a sharp hike in spot gold price. This share is testing to hold. Anyone else thought of investing elsewhere, eg, currency trading, As regards crypto, I can't make sense of this apparition. I wouldn't touch it with a barge-pole. Anyway, a chance to live and fight (the markets -- not people!) another day on Monday . Very best wishes to all commentators and investors alike and thank you for your rich and varied opinions.
Sunshine
H1 60-65% annual costs vs 45% annual production. H2 35-40% annual cost and 55% annual production. We have another difficult quarter and the mood may well change here otherwise a lot of heat will be heading on management's door mat as folks will ask what are we paying these folks for if they do not deliver.
Tony
Hi Mrtibbles
Thanks for your reply and great to have you back. I hope and trust that you are fully recovered.
Yes, I have followed this share up and down, including the business of the pit wall, the change of CEO, the West African exploration etc etc.
Over time I have lost £ and made £ on CEY.
For now, I am out. I note that the price is not as low as it was quite recently. All this whilst POG has struggled.
GLA. DYOR
Hi Sunshine,
It used to be more positive, but unfortunately after a narrowly averted open pit wall collapse forced the disclosure of several years gross Sukari mismanagement and the way that share holders trust had been taken for granted and then betrayed by the senior management positivity amongst share holders tends to be in short supply!