The latest Investing Matters Podcast episode featuring Jeremy Skillington, CEO of Poolbeg Pharma has just been released. Listen here.
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Shane's biggest regret was Liz, a true love lost like a stone thrown could not be returned.
May cause a few rumblings.
https://www.centamin.com/investors/investor-calendar/
Major indexes in Europe traded mostly flat in the premarket of Monday ahead of the release of Germany's producer price index and amid the continued escalation of the Ukraine crisis.
Early in the morning, the British Defense Ministry said Russian forces stalled 25 kilometers from the center of Kiev. It was also announced that United States President Joe Biden would travel to Poland for talks with his Polish counterpart, President Andrzej Duda. Yesterday, Johnson vowed to "advance Ukraine's interests" ahead of this week's Nato and G7 meetings.
The DAX and the CAC traded flat at 8:01 am CET, while the FTSE 100 rose 0.07% two minutes later. The euro was down by 0.13% against the dollar at 7:58 am CET, selling for $1.10371. In comparison, the pound lost 0.22% to go for $1.31502 at the same time.
Baha Breaking the News (BBN) / JGA
Happy Monday y’al
On there website, CEY shows a mineral resource of 10M oz at the end of 2021 with 4M oz already mined.
Going back nearly 20 years I have seen very compelling information indicating there was a resource of at least 20M oz just in Sukari & not even counting the huge & largely unexplored surrounding area, a lot more than the 14M oz combined total.
Of course you are not allowed to claim that level of resource with out doing significant drilling & it is not cost effective to do all that drilling up front just so you can lay claim to a resource, however, I am extremely confident that there is gold in the ground to keep us all in generous dividends & an accordingly decent share price for many years to come - they just have to stop fannying about & dig it out of the ground :)
‘‘We’re having to be very nimble because we’re seeing very large price movements on a weekly basis. We think we’ve probably just gone through the retracement period, so now we’re starting to rebuild some of these positions again.’’
Some investors are positioning their portfolios towards gold, betting the geopolitical tensions that have driven commodity prices to near-record levels are unlikely to abate in the near term.
‘‘We believe that geopolitical risks will continue to grow into the future, and as such we maintain an exposure to quality gold companies as a hedge against this uncertainty,’’ Franklyn says.
‘‘We currently have a weighting to gold of just under 20 per cent.’’
Even with prices sitting at their highest levels in years, investors still appear confident the long-term structural trends around electrification will mean base metals and other ‘‘transition’’ commodity stocks remain good investments.
Finally come clean with the costs of living in Oz....for me the last 12 months well over 10%, and depending on wieghting to housing, could be nearer 15%.
Moving tribute to Shane Warne on the weekend ... a life well lived, but way too short.
best
the gnome
Not new news but worth a ponder no doubt.
https://www.benzinga.com/pressreleases/22/02/n25331866/geodrill-wins-usd-54m-five-year-underground-drilling-contract-in-egypt
https://www.benzinga.com/quote/GEO
Glad to have you back Mr T- hope alls well
Thank you Mr Bond , also thank you to Market for his good wishes and to everyone else for all their kind thoughts, they mean a great deal.
More importantly the sp will increase on the back of increasing ounces mined which we have been promised will be happening by Mr Horgan going forward.
I hope you are feeing better.
The Sea is crahing into the cliffs here intent on winning.
As eventually it will.
The same on this BB ,in realliy will out, the real truth.
As it is gradually.
Not conjecture.
good night.
Stay strong.
This company will be accelerated in sp if gold does well and let’s face it you don’t get in gold shares if you don’t think this will happen. I’m long on gold, it’s bull run continues
A good summary 3bear, thanks for sharing. Point 7 is why I am terrified of a take over. We are beset by one cell brain short term traders.
"7) 90p is a ridiculous price for a company of this quality."
Guys may I just add a few notes of optimism?
1) Horgan is open about the fact they don't know how big the ore deposit at Sukari is. "It is not geologically constrained, it's drill constrained. We haven't found the sides or the bottom yet." Just think about that for a minute. What they do know is Sukari will produce around 500k for 12 years. The only unknown is how much more is to come. This is good.
2) They have been given some of the best prospective ground in the Nubian shield. From what I can see, this is priced into the closing SP today at less than zero.
3) The first analyst on the results call is scratching his head saying, hang on, at these numbers, Doropo's potential is not priced in to the SP at all?
4) I said a few days back that if Cey maintained the divi at 9 for 2022 I would be turning cartwheels of unexpected joy. But this company is where it is because the previous management prioritised dividend over good practice.
5) Yep, if you're sitting on losses, or in any case, a divi cut is a kick in the b*llocks. FWIW I think Horgan is putting together a sensible plan that must result in share price growth. I can't see a better one, but I know nothing about mining. If anyone out there has a better one please can we hear it?
6) I like the fact that Horgan features prominently at every presentation the LTI rate.
7) 90p is a ridiculous price for a company of this quality. But we knew that anyway.
8) Horgan announces a minimum divi of 5c and Alex B-C asks him how will the expected upside on that minimum be paid - special dividend or share buyback? Horgan nearly chokes. This tells me to expect a full year divi for 2022 of exactly 5c. Let us hope that one year from today that equates to a shockingly low yield.
Comparing tax & royalty by country (excluding short term incentives)
Egypt 22.5% & 5%*
Côte d’Ivoire 25.0% & 6%
Mali 25.0% & 6%
Burkina Faso 27.5% & 5%
Guinea 30.0% & 5%
Senegal 30.0% & 3%
Australia 30.0% & 5%
Canada 31.0% & 3%
Ghana 35.0% & 5%
USA 47.0% & 5%
* Egypt's final gold royalty rate still in negotiations but minimum for gold set at 5% and maximum 20% according to the revised mining legislation
There is a precedent in the mega Nevada USA operations where Barrick and Newmont share ownership 60/40 - as well as the pair's joint venture at Pueblo Viejo in the Dominican Republic - and both parties are pleased with shared ownership in all the updates I read - so it's really no different with the EMRA 50/50 profit share - actually it is different in the fact that Centamin's capital expenses are fully recovered from the EMRA portion of profits - a big plus to anyone thinking to build another processing plant somewhere on the existing Sukari concession site
Anyways it's possible Newmont's new interest (or should I say newly *publicly* revealed interest - not to ruffle feathers ) could indicate Barrick would like Newmont to join them in any plans they have for Egypt - scuttling any Centamin M&A ideas I may have presumed
Whatever transpires clearly I'll be among the last to know - yet I'll read about how some others on this forum positioned themselves well in advance to take full advantage - such is life :-)
Have a good weekend all -
Stranger things have happened..
Lots of news coming up these next few months and who'd want to be out if there was a good RNS just around the corner?
17m UT sell :( I hope q1 results will be good here…
Under the new arrangements, what will the equivalent split be I wonder? - 60/40 - 70/30 - 80/20 - I seem to recall some pretty hefty royalties and taxes being bandied about and also a suggestion that calculations based upon gross output.
Anyone know or have an inkling how it may all pan-out?
Agree too Paul- nuts.
Agree Dasut- my comment on renumeration was merely a statement of what I would like to see in a public company and not big salaries with zero risk.
2021 reported today.
https://www.barrick.com/English/news/news-details/2022/barrick-set-to-deliver-substantial-future-free-cash-flows/default.aspx
Now that's a report and a half. - If only. - Centamin has been asleep at the wheel., or something more sinister.
Steve, I know Newmont as a company and they are extremely conservative and agree that a 50% share of their net profits after what would be a sizeable purchase price doesn't compute.
To think that it is only now that Newmont is interested in Egypt is way off beam, they will have been monitoring what has been going on for some considerable time. I am not sure that even the new revised terms of business will actually suit their business model. As for how Newmont will if they feel it is of interest enter the Egyptian market it will be on their terms and I have serious doubts they would need to spend millions on buying Sukari. There are a number of junior mining companies with large areas to prospect and Newmont will be closely monitoring developments in these areas.
As for the comment relating to the boards buy in and high salaries I suggest you send a question to the board but this is something they might find difficult to answer in open forum because a negative response could have an adverse impact on the SP and a positive response well could that be bordering on insider trading, not sure.
You would think that after all the money that erma has had from centamin, that they would be doing all they could to help Centamin out, regards reduced profit share, favourable rates for fuel, Cough cough Law 32 .
If they took a reduced share but Centamin could expand and produce more gold at lower costs, then they would get it back in spades.
Only proper that cey can review and renegotiate their terms for Sukari on the back of better terms for new mining entrants into Egypt.
First sentence should say "why would I buy CEY when I lose half my profits".... when "if I go into Egypt and are lots of new concessions out there, and I don't get battered with the 50/50 share, in fact a lot better deal"