Centamin PLC Share Chat (CEY)

MrBond, Disclaimers and forward looking must contains those statements by law as there are many risks for any kind of business.

Read Disclaimers of forward looking estimate.
Page 1of the presentation,underneath the colourful picture of Sukari at night.
The only figure worth reading are actual year end figures.
Not guesstimates company or others.

For those of us who ponder whether there is a conspiracy among Centamin's management to conceal lower grades, hide dire technical issues and otherwise bamboozle investors into believing all manner of untruths — I submit the following: It is but human nature to think the worst and attribute malfeasance to an otherwise innocuous event.

Now don't get me wrong. It is obviously in the best interest of management to paint a rosy picture, to maximize their credit and minimize their responsibility but at some point we just have to see the current production situation for what it is — completely normal.

Per ounce costs have increased and that hurts our bottom line but at least we can now see there is a master plan to add high grade ore. Will it be possible to hit 490k by December? Who knows, and does it even matter when you consider the tenement area is likely to produce gold for another 40 years?

And while we're on the subject of setbacks, perceived incompetence and geopolitical risk let's remember it's by no means a phenomenon unique to Centamin or Egypt...

Sept 16, 2019 Mexico
An earlier blockade began on March 27, led by a trucking contractor and some members of the Cedros community who had separate concerns over water supply issues, with Newmont suspending operations on April 29.

The mine came back online in mid-June after the blockade was lifted and government-sponsored dialogue was established.

However on Sunday, Newmont said the dialogue had been suspended and the blockade had resumed.

"The company remains willing to continue good-faith discussions and will be available to resume the dialogue once the other parties recognise their interests are best served by returning to the government-sponsored discussions and not through illegal and unproductive blockades that hurt local communities," Newmont said.

"In order to ensure the safety of people, assets, and the long-term viability of Peñasquito, the company has temporarily suspended operations for as long as the illegal blockade persists."

https://www.mining-journal.com/gold-and-silver-news/news/1371610/newmont-suspends-pe%C3%B1asquito-again

Sept 16, 2019 Greece
Eldorado Gold Corp is open to discussions on potentially paying higher royalties in Greece as it seeks permits needed to restart work at its stalled Skouries development, chief executive officer George Burns said on Monday.

The Canadian miner will also seek a strategic partner to help fund the $680 million remaining development cost for the project, Burns said on the sidelines of the Denver Gold Forum.

Greece’s new conservative government wants to secure higher royalties from its mining development projects and new jobs, Energy Minister Kostis Hatzidakis said on Monday.

https://www.reuters.com/article/us-gold-conference-eldorado-gold/eldorado-open-to-greece-royalty-talks-seeks-partner-at-skouries-idUSKBN1W124N?il=0

Hi Dansul,
Thank you for you thoughts on these issues, you raise some very valid points , I find it helps a great deal to discuss these things especially with other long term members!

mrtibbles, I believe that CEY and AAN management and investors are telling the world with the lower performance don't invest in Egypt. Unless the Egyptian authorities get the message and solve & clean their laws and be open minded to the world for investments. It is a political all a long. No matter what their president say but there are more in parliament and Ministers are coward to face the truth of world investments; I can read that from CNN interview with Naguib Sawiris.

Still very mad at CEY management and hope they do work better for all the salaries and bonuses the grab from us.

I am very patient to see the good results by end of year. Don't forget that AVG gain from $300 to $500 per ounce for the second H2. Gold for H1 was AVG about $1250 and $1450 for H2.... That will make a huge difference on Dividends.

GLTA,
Dan

So how many years now have they been considering this, if Egypt wants to encourage more foreign investment sorting out this lazy shower should be a top priority!

Nearly all gone now though, probably end up wiping our face again if we are lucky!

....but we will have to wait till next year and the Q4 results as no one will now believe it till it happens, hence my post this am that current price is a fair one but it may come back a bit more particularly if gold is weak on lack of trust and the usual overshoot. However IF Q4 matches or beats last year, and gold price is just correcting but marches further north, then next year could be good.....I am sticking

They made just about that if I remember in Q4 last year

Hey Rebess,
Looking at those figures again. They say Q3 below Q2 but do not mention Q1. Say that Q3 is between Q1 and Q2, say 116,500oz. That would leave 139,404 for Q4 to hit 490,000 for the year. That is only a 21,491oz or 18.23% increase on Q2 or an 18.45% increase on Q3. That does not seem inconcevable. We know that they are capable. Although this all seems very strange, for them to estimate Q3 before it has actually finished.

I would of thought using drones is pretty sophisticated technology. I'm guessing they're not the ones you buy off of Amazon. Nevermind who used them, who supplied them?

So world production of oil down 5% yet initially in Asia trading the price of oil increased by 20% before dropping back to around 15% by close, MM making a killing!

Week end shrikes on the heart of the Saudi oil industry forced the kingdom to shut down half its crude production, amounting to a loss of 5.7M barrels a day, or roughly 5% of the world's daily production of crude oil. Yemen's Iranian-aligned Houthi rebels claimed credit for the attack, saying they sent 10 drones to strike at important Aramco (ARMCO) facilities, including the world's largest oil processing plant and a major oil field. The disruption sent WTI futures as much as 15.5% higher overnight to $63.34, the biggest intraday percentage gain since June 22, 1998, while President Trump authorized a release of crude from the Strategic Petroleum Reserve, as necessary

But I thought Saudi Arabia had already cut back production a few months ago, this seems like a another convenient opportunity to push up the price of oil and for Trump to have a go at Iran

Hi goldnome
I usually refrain from making political comment on the thread, but your post makes some very valid points. - It shows what the powers that be can get away with when they can influence/control the media. Social media apart that is.

Attack Iran? Like to see the evidence that it was Iran, or as to what Iran is supposed to have done, as it would not make a lot of sense. The Yemenis have bombed sensless by Saudi using arms from the US and UK. Hope we dont see another Weapons of Mass Destruction debacle again.
"As of November 2018, 6,872 civilians had been killed and 10,768 wounded...The actual civilian casualties are likely much higher. Thousands more have been displaced by the fighting and millions suffer from shortages of food and medical care."
https://www.hrw.org/world-report/2019/country-chapters/yemen
How do they fight back against overwhelming firepower, but its a large jump to blame Iran..what exactly did Iran do? Could anyone imagine what the Middle East would be like without the need for any Oil?

Good for gold. A lot of things are good for gold but hopefully this does not become one of them.

the gnome.

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!!!!

Hi MrBond
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.
Quality counts.
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.