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Gold feeling a bit week if it doesn’t really get it up for the Saudi attack and the ramifications you point out. On the share price, Blackrock may have contributed to the fall of 10% before the poor presentation, though lower gold price didn’t help,, and again on 12th when the nes on quarter 3 came out, but I think cey is around fair value now, so needs higher gold or the 4th quarter to deliver as promised to rise, or might go a bit under fair value for now. Could just be a bounce this am, hope not
C'mon Mr Bond. Get your goldfinger out.
Get that SP back up there!!!!
You will note that the bulk of my construct is based upon figures and not just criticism. So, let's see your figures, let's see how you see it all panning out. - I don't mind you having a go at me personally, but sniping from the sidelines is not much of a contribution is it? - So, come on then, I invite to trump my post by laying out your arithmetic.
My guess is that the Blackrock news is now "olds".
I don't see how Saudi Arabia and the U.S. can leave the drone / missile attack on their oil facilities unanswered. And if they do attack Iran, then surely we spiral down towards a war in the Middle East?
Bad for everybody, but "good" for oil, the dollar, and gold.
Blackrock are still dumping shares then
I guess that is where the selling pressure came from, last time they did that they brought them back at a lower price later on...
European markets traded with losses on Monday after oil prices jumped over 15% overnight following attacks on Saudi Aramco oil facilities that disrupted half of the country's output capabilities. Silver increased over 2% and gold prices were up 1%, remaining above $1,500 per ounce. Meanwhile, United Kingdom Prime Minister Boris Johnson is set to meet outgoing European Commission President Jean-Claude Juncker later in the day to discuss the Irish backstop.
The DAX fell 0.79% at 7:25 am CET and the FTSE 100 was down 0.30% at the same time. France's CAC 40 lost 0.15% at 7:26 am CET.
The euro was flat against the dollar, declining 0.04% to 1.0705 at 7:28 am CET. The pound was 0.27% in the red compared to the US currency, changing hands at 1.24658 at 7:27 am CET.
Breaking the News / VP
The price of gold climbed over 1% at the start of the trading week. Saturday's attack on Saudi Aramco's oil facilities propped up safe-haven assets as tensions between the United States and Iran mounted.
Washington accused Tehran of orchestrating the strikes, which halved Saudi Arabia's crude capacity and disrupted global oil supply, to which Iran responded by stating that it is "ready for war." Meanwhile, Yemen's Houthis claimed responsibility for the attacks themselves.
Gold jumped 1.15% to $1,505.11 per ounce at 6:57 pm ET.
Breaking the News / JC
Those who live in glass houses may do well not to throw stones Mr Bond!
I recall your comments regarding Josef's past share sales, the Kees Dekker 2015 reports warning of ongoing low grade problems and on Black Rock possibly getting the nod & wink just before the most recent production presentation was released.
So what have what have you actually done on any of these issues apart from stir on here and make sarcastic remarks towards other members?
In the past Rebess has been more than willing to trust and give the benefit of the doubt to the management and he has never been slow acknowledge their achievements.
So in the light of this latest presentation Rebess makes some very valid and justified observations that need to be considered by all Centamin investors.
As to Kinesis, there are those that are desperate to see it fail because it presents a very serious and viable alternative to the present unfit for purpose and in some cases corrupt trading and monetary systems.
You seem to assume that I have some vested interest in Kinesis, on that I I couldn't possibly comment, although I will admit to having a vested interest in getting at the true facts and in the overall success of Centamin!
So what do propose to do about it ,than whinge.
You have had ,not a good year along with Tibbs, with your crypto.
So off your twisted knickers ,put them on again.
We all make mistakes.
Portfolios values fluctuate with the insane market.
Or is it time to sell everything and invest in physical gold.
At least then you can buy food from the mafia pirate banksters.
Lol . The reallity, maybe.
Hi Tibbs - If the hint they gave in the recent investors presentation proves correct, then it is an impossibilty that even 490,000 can be reached. - Back-loading their forecast to the second-half of the year, gives them time to construct a strategy that allows the deceit to continue until it can't. - Q3 was/is the moment of truth and now they have sneakily dropped the hint. Yes an RNS will be winging our way with a reduced target/profit warning.
Quite so Rebess, so some task even to reach 490,000 oz?
Do they have something up their sleeve that we don't know about as yet or will it be another RNS that will warn of reduced output, I do hope its the former!
Also in the light of the present situation why were the directors awarded bonus shares recently?
Error: Apologies, Q4 will require a 40% uplift just to meet the minimum of 490,000 not the 22% I posted. Got my knickers in a twist confusing previous calculations. - So, 40% not 22%- well, nobody need respond becaus it's an impossibility. - Just like last-year, the Autumn put down, to cover the deliberate lies and deceit that they call their forecast and upon which millions of £'s worth of investors money has relied.
Q4 last year produced 137,600 oz, a 17% increase on the previous qtr., only to collapse by around 16% going into Q1 of 2019.
This time around Q4 will need a minimum of 22% increase to reach lower-end 490,000 and that assumes that Q3 is equal to Q2. Anything less, which is muted, then clearly the % required increases. - Any takers?
Q1 came in at 116,183oz - Q2 at 117,913oz - Total for H1 of 234,096 oz - However, only 224,129 oz were sold in the period due to timing of closing weekly gold-shipment. ??? - Ok let's see how that fits-into the financials next time around.
So, if Q3 is likely to be less than Q2, obviously it depends upon how much less. - But even if it's the same, bringing total production to around 350,000oz, this would leave a Q4 requirement of 140,000oz to reach the lowest figure in the forecast of 490,000oz .- Clearly, every oz below Q2 that Q3 comes in, adds to this figure. - Never mind the 500,000 oz that Dasut would like to see, does anybody think it's possible to reach 490,0000z? - There will be a new warning winging our way any time soon I fear. Guess what that will do?
Tibbs KD is right about many things but I don't really hold much store by any reports that are based on other reports and he lost credibility because his early predictions were somewhat premature.
What I like is to listen to people who walk the site and talk to people working on the project regarding questions that arise from site visits.
Guess my recent rants are borne out of the frustration of not getting the opportunity these days to visit sites and learn first hand the pros and cons for myself.
Personally I wouldn't be disappointed at closer to 500,000 ounces by year end as this gets back to earlier realistic predictions.
Sorry state of affairs really if after all this time and all we have been through that our investment in Centamin is now so dependant upon the one factor POG which is so open to corruption and market manipulation.
If you recall last year just after the guidance cut announcement in 2018 Alexander of Cey investor relations explained that although the production teams were at that time ahead of schedule in stripping through the low transitional grades, also it was the intention to deploy extra crews and resources to help speed up the process.
So was I being spun a line a that time or didn't they realise that the low grades were much more of a problem than they envisaged?
I am no mining expert, but I would have thought the equipment they have available today must be able to give them a pretty accurate idea of when they will hit the higher grades, but of course I accept may be naive in assuming this ?
Like many other long term holders I really want to believe that the management have learnt lessons and have my faith and trust in them restored to what it once was in the past, but I must admit that this recent announcement and the market reaction is most disappointing, after this the management really need to deliver some real results rather than more promises that turn into disappointments!
I appreciate that some don't like me mentioning the Kees Dekker reports of 2015 & 2018 and I would really like for his opinions and perditions to be proved to be inaccurate, but unfortunately after this last announcement I cant help thinking he does seem to have been quite accurate in his conclusions so far.
I look forward to some thought from those of you who are more experienced and better informed than I on these issues.
September 14 2019 09:37 PM
Executives headed to the Denver Gold Forum a year ago were hit with a startling bit of news as they stepped off their planes: A merger made public that afternoon was set to create the world’s biggest gold company.
Now, a year after Barrick Gold Corp agreed to buy Randgold Resources Ltd, and in the wake of a second huge megamerger, executives are once again travelling to the Denver meeting, which opens today. Only this time, the industry will be watching to see if mid-tier miners concerned about losing out to larger rivals are ready to jump into the M&A game....
article continues/ link
Will there be any big deals announced this year?
That is of course you are a trader and got your fingers burnt.
Get real .
Try another miner.
This bunch are far from perfect.
But who tells the complete truth.
Its no different than politics.
Investing is a theatre ,there are few if any opinions to be trusted.
Take the divi and buy premium bonds..
Or physical gold.
Yes, I agree the POG could be a straw to clutch. - But all it means is that Centamin continually negates a benefit that we should have had anyway. - It's just the perpetual continuam of 'Down a snake' syndrome.
Q3 was always going to be the 'Acid-test'. The Quarter that tested the veracity of the narrative contained in their forecast. Q3 will tell the truth more than any fine words or phrasing. - It's the Quarter that will provide the clue as to whether they really can increase productivity by as much as 22%, to meet the 45%/55% H1/H2 split. - If they can't, then it reveals the deceit contained within their forecast. - And deceit and misinformation are characteristics they have perfected. IMO
Of course Dasut. - Twas ever thus. Just like last year, a double good-hiding for every bit of negative news. - We thought the 'New-look Centamin' had learned from this and had tailored their new methodology of 'News dissemination' into avoiding this phenomona. - So far there has been total silence in between quarterlies. Not a whisper and then, 'Wham, take that'.
sorry no idea why I was stopped mid rant. should go on to say
So it is a double dip situation yet again. I am however not quite as pessimistic because surely the ounces drop can't be as great in percentage terms as the increase in GP, so maybe not making as much profit as could but still reckon financials should be OK?
Rebess I understand where you are coming from and I can't believe how ridiculous it is of so called senior managers to include a negative that will be repeated when they officially announce the 3rd quarter results so it is a double d