Centamin PLC Share Chat (CEY)

range bound at the moment.

Needs to hold 1480 area

Dividend Pay Day today - 27th Sept

(4.0 US cents per share)

For those shareholders electing to receive a sterling dividend, the USD quoted exchange rate of 1.2344 will be applied by the Company when issuing sterling.

Tibbs I have read the DRC article and there is a mention to "this is Africa and it is easy to smuggle" this is so common not just to smuggle but to by pass the law.
Why is it easy it is because the police, border patrols often are low paid for their responsibilities so guess what it is easy to evade the regulations.
Not difficult to understand that something isn't right as even though the Ugandan's legalise the gold as it is deemed sourced from Uganda but to the best of my knowledge Uganda doesn't have a producing gold mine.
Right no but how is it sorted out, I have no idea.

Tibbs I thoroughly agree but the developing countries in the likes of Africa always seem to be at the back of the queue when it comes to what you suggest as ways of survival.
It would take me hours to explain the issues I will mention "access" to water to communications to health to education to power and the list goes on, grow their own food all well and good but if it doesn't rain there are no food banks. I met with really sensible helpful people who remind me of Siko who get among the people to find out what is needed. One old couple from Dorset retired farmer and his wife living in mud huts teaching how to grow food and best plants to survive drought. Is there a worldwide programme are there local programmes yes there are but is enough being done sorry no there isn't.
I was in Sierra Leone shortly after the civil war although the war was influenced from outside rather than within. We would all think charities are the way to go and we all contribute but ignorance of the real needs can do more harm than good.
One of the quick to get back on it's feet was the cloth making businesses, these are very small one or two person businesses. In come the do good charities donating clothes and I mean loads of clothes so what happens the small businesses are out of work.
As you rightly say I have experience and there are far more local people who have far more experience of what is needed but they don't or I should say didn't get asked, I say didn't as I am talking about past experiences.
Somewhat off subject but just a way of explaining that it isn't straight forward.

Gnome, your son is a brave man. Three girlfriends?! I can barely handle one.
Joke aside, I think trading/investing for a living works but usually you need to have a big initial sum to start with. Otherwise you have to work hard and save a lot to create the capital you need in order to make investment worthwhile. Or you have to start at a very early age like Warren Buffet.

Europe traded with modest gains before the opening bell after it was reported that high-level trade negotiations between the United States and China are scheduled to continue on October 10. Yesterday, China also said that it's willing to buy more American agriculture products, which was praised by Larry Kudlow. Meanwhile, US President Donald Trump faces an impeachment inquiry over conduct with Ukraine, in relations to Joe Biden's son Hunter.

Investors will also be looking at import prices data for Germany before official trading starts, as well as consumer business climate for the European Union later in the day.

The DAX added 0.13% at 7:44 am CET, as the CAC 40 rose 0.25%. The FTSE 100 was up by 0.22% at the same time.

The euro was flat against the dollar, buying $1.09195 at 7:45 am CET. The British pound climbed 0.08% compared to the greenback at the same time, going for $1.23316.

Breaking the News / NI

These people are not living in Europe and not privileged to live in the 21 C .
And not in cities.
They survive as they have always done.
Hard and dangerous work,to keep their families fed.
It was no different in mines in UK before nationalisation in the UK.
In the mines strikes and previous depressions people picked coal of waste tips and dug holes ,they knew where the seams were.
That is survival.
It for much of the 2 nd world is normal and likely to continue.
At least Centamin employ Egyptians for the majority .
I have seen it ,my grand parents did it.
I survived by that knowledge.
The University of life.
And did well.
After starting in accountancy of all things.
LOL

Dasut, You have personal experience which I don't but but the local people shouldn't ned to take such risks just to survive, there are better and safer ways to provide employment and income for them in the 21st century.

https://www.business-humanrights.org/en/drc-illegal-gold-mining-in-the-north-east-continues-to-fuel-conflict-despite-conflict-mineral-regulations

Tibbs a really difficult subject as quite often what is called artisan or illegal mining, is seen by locals as employment for local people and going back generations. When I first visited the likes of Tanzania I toured areas that were likely to develop mines. On my various trips I visited small villages and saw men, women and children manually digging very deep holes and getting up and down with hand built ladders. Extremely dangerous but this was pretty much the only way the village could survive and much of the gold was used to barter for water from another village that had a bore hole.
Over time mining companies interacted with the local villages many interactions went quite well with whole villages being relocated and some financial benefits. However whether this was/is good for communities is debatable as when mines close the local areas struggle.
What also happens for the duration of the mine is the influx of people from outside the area as finding local expertise/workers can be very difficult as the only mechanical piece of equipment they will have seen or worked on would have been a bike.
Always two sides to the story.
I remember chatting with a geologist who would disappear into the bush looking for mining opportunities and much of his knowledge would be his gathered by talking to villagers who had been digging for gold for many generations and he showed me trinkets that he had gathered in Ghana. Pieces of jewellery that would have been involved in trading with desert travellers with Middle East connections maybe more than a hundred years old, so local communities surviving for many generations from local gold albeit mined using very dangerous methods of extraction.
Do local communities benefit from the arrival of mining companies "yes and no" depending on duration of the mine and time and money allocated to education of in particular the younger generations to survive when the mine closes.

Hi Dansul
Financially, supported by an increased gold price, it could well be. - However, since the company has engaged in the science of 'Hintology' in letting us all know that Q3 production will be lower than Q2 and therefore under forecast, I believe this is the metric that the market will pick-up on. - IMO

I believe Q3 will be the best in financial outcome although was said production lower than Q2.

GLTA,
Dan

Sorry Typo below - should read "What about the huge environmental damage and the exploitation of workers and local communities caused by artisan and illegal mining?"
So much corruption in many of these governments with senior officials making money out of illegal mining and yet they also want to take a cut from the companies that mine legally and make some effort to comply with environmental standards.

(I do wish that this site had an edit facility on the posting section)

What about the huge environmental damage and the exploitation of workers and local communicates caused by artisan and illegal mining?

Stocks on major European markets posted slight losses on Thursday in premarket trading, after United Kingdom House Of Commons went back into session yesterday. The UK Supreme Court ruled the suspension of Parliament illegal, and Prime Minister Boris Johnson is now pressured to reveal proposals for a withdrawal deal with the European Union.

Investors will be looking at the consumer confidence survey from GfK, to be published before the opening bell.

The DAX declined 0.0.06% at 7:33 am CET, as London's FTSE 100 sank 0.13%. The pound recovered from yesterday's slump, adding 0.10% on the dollar at 7:34 am CET to go for €1.223628. The euro climbed 0.13% against the greenback at the same time, buying $1.09570.

The CAC 40 lost 0.23% at 7:34 am CET.

Breaking the News / NI

Australia is far likely to have some veyr significianct claims against mining companies and governments
"When respected elder Dr Galarrwuy Yunupingu announced his intention to lodge a native title compensation claim against the Commonwealth over minerals on the Gove Peninsula"
https://www.abc.net.au/news/2019-08-07/cultural-loss-payouts-likely-to-cost-billions-how-does-it-work/11389052

https://www.abc.net.au/news/2019-08-03/gove-traditional-owner-to-launch-compensation-mining-claim/11381034

Be great day for the lawyers, very bad days for the miners...I suspect

regards
Peter

Thanks Cowichan for sharing, I was looking for such report.

GLTA,
Dan

According to this particular report Egypt, Burkina Faso & Cote D'Ivoire are as safe as Canada & Australia when it comes to the likelihood of resource nationalization.

Tanzania has lurched up the risk scale to number 2 representing extreme risk - good luck to Mark Bristow over at Barrick!

https://www.mining.com/rising-resource-nationalism-in-africa-ups-stakes-for-miners-report/

Agree. Another middle east event and i think gold will "pop"

WHERE, WHAT, WHEN AND WHO? – HIGHLIGHTING KEY GLOBAL EXPLORATION OPPORTUNITIES, TRENDS AND A PERSPECTIVE ON THE CYCLE OF MINERAL EXPLORATION
Posted on:October 15, 2018 Written by:Richard Schodde
PRESENTATION AT THE INTERNATIONAL MINING AND RESOURCES CONFERENCE (IMARC), MELBOURNE, OCTOBER 2018

Download Slides
This presentation gives an overview of recent trends in global exploration as well as the outlook to year 2025. For the first time I have included bulk mineral discoveries in my analysis.

Key observations are:

Over 1100 mineral discoveries have been made in the last decade … but only 15 of these were Tier-1. 4 each were found in Canada and China, 2 each in USA and DRC and zero in Australia.
Exploration expenditures are driven by changes in commodity prices and are highly cyclical. After peaking at US$31.0 billion in 2012 global expenditures fell to $10.5 billion in 2016. Since then it has rebounded to $11.8 billion in 2018. Based on fairly conservative commodity prices MinEx forecasts that expenditures will rise by 32% in real terms to $15.6 billion by 2025. The strongest growth will be in Base Metals and “Other” (ie battery and advanced minerals). And the strongest growing regions will be Latin America and Africa.
At present around 40% of all expenditures is directed towards gold exploration. Not surprisingly, gold currently accounts for around half of all mineral discoveries made in the World.
There appears to be a drop in the average size and quality of recent discoveries. It’s getting progressively harder to find a Tier-1 deposit.
With regard to the exploration methods used, at the project-scale level (i.e. where to take up leases) the main success factor for discovery was the presence of prior known mineralisation. At the prospect-scale level (i.e. where to site the drill rig) the two most successful techniques were geophysics and geochemistry.
With regard to who made the discoveries, prior to 1990 the scene was dominated by the Major Companies. However, in the last decade Junior Companies have become much more important and now account for 65% of all deposits found.
After several years of cut-backs and hibernation, in 216 the Junior Companies started rebuilding their cash reserves. They are now much more active in the field.
Based on analysis of gold sector spanning several business cycles over the last 40 years, MinEx found that the discovery performance (as measured in ounces found) peaked before the peak in exploration spend. Maximum performance was in the first couple of years after the market bottomed and turned
To expand on the last point … exploration performance is adversely affected at the top of the business cycle by the high salary and drilling costs and an over-investment in mediocre projects. https://minexconsulting.com/where-what-when-and-who-highlighting-key-global-exploration-opportunities-trends-and-a-perspective-on-the-cycle-of-mineral-exploration/

Good point Mr T.

You really do NOT need to do work, just trade now. Last year I made 3 times more in 5 times less...just trading,... than working. Sadly, but perhaps not in some respects, my son is now a professional trader. Very smart young man, could have been a great engineer/scientist (still time), ..."but whats the point Dad? "

"You can live where you like, just have internet connection and make suree its secure, trade (work) a few hours every day, be careful about asset allocation and outlier investments, have one girlfriend for mornings, another for the afternoon, and then one for the evening ...I suggest Tai Chi..."

"Dad, your problem was that you worked too hard, never understood the system, and never had the right work life balance! But I understand, its not your fault. You did the best at what you knew, ..back then. Times are different Dad, and you have to adjust, move on"

"You still got time Dad, I can see you're learning fast, you can make it"

And in the other ear I hear the economists talking about a productive economy, about how we need to achieve producitivty growth, to justify wages growth...blah , blah"

"Mr PhD Economist, your problem was that you worked too hard, never understood the system, and never had the right work life balance! But I understand, its not your fault. You did the best at what you knew, ..back then. Times are different Mr PhD Economist, and you have to adjust, move on"

"and now Mr Johnson...?"

Its a strange old world, for sure.

go gold, I understand you.
the gnome.

European equities were lower in premarket trade on Wednesday as MPs in the United Kingdom were set to return to Parliament following the Supreme Court's ruling.

The court unanimously decided Prime Minister Boris Johnson's suspension of Parliament ahead of the scheduled departure from the European Union was unlawful. Meanwhile, world leaders gathered in New York for the United Nations General Assembly.

The DAX slipped 0.23%, the CAC 40 dipped 0.31%, while the FTSE 100 moved down 0.28%. The euro lost 0.21% against the dollar at 7:45 am ET, buying 1.09979, while the pound fell 0.24% versus the greenback, going for 1.24634.

Breaking the News / JC

The way that American banks are buying up water rights & companies (including the UK) it seems likely that H2O may well be a contender to replace oil.
The whole financial and monetary system needs changing, it is unfit for purpose, it is immoral that whilst so many live in squalor and extreme poverty that so much money is made by the privileged few that trade just for the sake of trading!
Most of this commodity trading is unnecessary and pointless ,it is wasting, destroying and exploiting the ever diminishing natural resources of our planet.
Time to shut down the casino comex & forex trading rooms!

A new report from the World Gold Council with lots of charts and data sets comparing gold to other commodities, cash, stocks...

One point I see as interesting: When the day comes the world uses much less oil (10-20 years?!) what will replace oil as the world's most traded commodity? (Right now gold is a not too distant second) All that hot money (tens of billions a day) will need an alternate roulette wheel...

https://www.gold.org/goldhub/research/gold-when-investing-in-commodities

See the response from Centamin regarding the conflicting media reports on the recent anti Sisi riots, I find it somewhat reassuring and certainly confirmation of what Siko was good enough to post.

Centamin have kept an eye on events in Cairo of course. Closer inspection would lead us to believe there is a great deal of false reporting going on – which Aljazeera has since apologised for. There was a protest of about 40 people for half an hour that had been magnified by international media.

Centamin does not have any operations in Cairo and of course the safety of its staff remains of paramount concern, yet this ‘disturbance’ has had no effect on Centamin nor its staff, so subsequently there was no merit whatsoever on making any public statement on this.

Thanks for your concern though, it is appreciated.

Will Boris try to delay coming back to face parliament by claiming he was booked on Thomas Cook?