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It is time for management to have skin in the game sort of speak so that investors have a stronger conviction in the Centamin recovery story.
Thank you to everyone who as expressed their good wishes during my recent absence.
Tibbs
Very fair analysis and comments !
Agree entirely!
A BBC investigation has uncovered new evidence about the corrupt deals that made Roman Abramovich's fortune.
The Chelsea owner made billions after buying an oil company from the Russian government in a rigged auction in 1995.
Mr Abramovich paid around $250m (£190m) for Sibneft, before selling it back to the Russian government for $13bn in 2005.
His lawyers say there is no basis for alleging he has amassed very substantial wealth through criminality.
The Russian billionaire was sanctioned by the UK government last week because of his links to Russian President Vladimir Putin.
Mr Abramovich's assets have been frozen and he has been disqualified as a director of Chelsea Football Club.
https://www.bbc.co.uk/news/world-europe-60736185
Hi Gnome
Another Aussie up when our friends in the mother country are in bed.
Off topic, but have a look at POLY on the LSE - can be hard to find a broker who will buy for you (IBKR & Commsec won’t, NAB will) due to Russian operations but a very interesting play - either lose 100% or potentially gain 1000% + :)
I get the impresssion you might like these sort of plays & reckon you are well capable of satisfying yourself as to whether the risk/return is right for you so I’m just giving you a heads up.
Have a nice afternoon/evening :)
Cheers
Spoony
Horgan has had some time in the saddle, and if he does believe strongly in his rhetoric and the future of the company under his stewardship, then he should put his money where his mouth is. Ditto for the other Directors who clearly have faith in Horgan and his rhetoric. Horgan is getting paid a pretty penny for losing the investor group, value of the company and value of their investment, so far. Ditto for the gender balanced, chair warming brigade.
Rhetoric is wonderful, performance is woeful. SP follows performance and the POG.
He may well end up with the same crebility issues the other mob have. Fed Embarks on Rate Increases to Combat Inflation. Officials signal quarter-point hike, the first rise since 2018, will be followed by six more this year. Biden signs off on another $1.5 trillion relief package... Putin has put the blame on Europe and the U.S. in comments Wednesday. He said the U.S. and European Union “announced the most real default of their own obligations before Russia” when they placed sanctions on Russia’s foreign-currency reserves. He said countries would “convert their paper and digital reserves into real reserves in the form of raw materials, land, food supplies, GOLD (!!!) and other REAL assets, which will only accelerate the shortages in these markets.” RECAP The last time Russia reneged on its foreign debts was after the Bolshevik Revolution in 1918. ... now there is a thought to leave you with
Time for action on all fronts ...
the gnome
Horgan can do as he pleases with his money but he should do his job.
In his results commentary he claims great success in reporting increased resources/reserves when many have known that these were in the ground for over 20 years!
At the same time he continues to hide behind previous management to explain Centamin’s woes despite the fact that he has been in the chair for close to 2 years.
I am tired of hearing promises of improved operational performance when the actual results fail to materialise - it is time for Horgan to achieve some significant advancements or make way for someone who knows how to mine gold rather than do deals and give meaningless investor briefings!
"disgraced oligarch Roman Abramovich" - How/why is he disgraced?
Bonkers - the London biased MSM has always shown him in a very favourable light for whatever their reasons, despite the origins of 'his' wealth being widely known, . I can understand you questioning whether he is disgraced, but then you are bonkers.
Up to him how he spends his money, brave man who'd tell me how to spend mine..
How do we judge a CEO, he has identified a problem in the pit wall and commenced the waste removal but he has at the same time destroyed the share price . To enhance that he cut the dividend 50 % in advance . This guy better buy 500000shares shares soon and get skin in the game soon otherwise for me he is merely an employee milking the cey cow. Jesus I can take a share price from 230 to 88p on a salary of 2.5 million !!
I was a little surprised to see the recent pullback in the metals given recent geopolitical developments, although I did half suspect as much ahead of today's Fed meeting. With gold reacting like this perhaps it will now resume its move higher given the major macro drivers. GLA
I was a little surprised to see the recent pullback in the metals given recent geopolitical developments, although I did half suspect as much ahead of today's Fed meeting. With gold reacting like this perhaps it will now resume its move higher given the major macro drivers. GLA
100% Drop due to results- look at other PMs today.
Just want to say thanks to all posters for shedding light on Centamin's 2021 results
and also to thank the temporarily absent MrTibbles who is even now advocating on behalf of shareholders with investor relations and such
Some are satisfied with the 2021 results, some clearly not - but perhaps it's mostly the weakening gold price weighing on us today ?
Also, a reminder to all - please send in your queries before next week's investor event :
March Investor Presentation
23rd Mar 2022 at 2:00pm GMT
https://www.investormeetcompany.com/investor/meeting/march-investor-presentation-3
I've just added a third question to the platform:
When did the so-called 'bonanza grade' zone(s) actually get discovered? They just sort of appeared with the January 2022 presentation. Was it during the 'relogging' efforts of last year? And if so how did such amazing bonanza grades go unnoticed and unreported for a decade?
Nothing not anticipated- when this announcement is made get some wild swings , then we get the Powell commentary and more swings then the analysts have their take and a few more - then it settles to back to where it was pre announcement ... mostly when the headline was as expected
Watch for the gold move...interest rate rise in the US sucks in all the lambs to go short gold....but long it will go. Always bet on the opposite don't be a lamb :)
OK, well I certainly don't need to bother watching that - you people are funny talking dirty money on a stock market board of all places :)
UK Tax year deadline is 5th April, if you look at last year's director buys they were around late March, would not be surprised to see the same happen again.
https://www.lse.co.uk/DirectorsDeals.asp?shareprice=CEY&share=Centamin-PLC
uncrossing trade 4.6 m- sell
2 minutes later 3 buys of total 5.9 m.
Interesting.
Someone buying.
View BBC Panorama`s - Roman Abramovich`s Dirty Money.
"disgraced oligarch Roman Abramovich"
How/why is he disgraced?
No predictions here but I am optimistic being able to buy today at just under 90p
· Revenue of US$733 million with an average realised gold price of US$1,797/oz and adjusted EBITDA of US$329 million is in line with expectations. Forward guidance suggest an approx 10% increase in production this year (407k to roughly 445k) at higher prices. Cost savings continuing (albeit with the dividend now targeted) means cash and other assets are still $250m+
I haven't checked but perhaps capex is higher than previously suggested? Exploration costs look low. Time will tell if they can achieve the top end guidance but I agree a couple of sizeable director buys would help with sentiment in the short term.
You cut the dividend if you cannot deliver on your plan. The market has taken that view and marked the shares down accordingly and they will stay down. If the company disagrees with the market it must act to correct that misinterpretation. A meaningful buy by Mr Hogan would send that message and the market would respond accordingly. I think that the market is right and has called Mr. Hogan`s correctly.