Centamin PLC Share Chat (CEY)

Don't forget that it's not a market as such that you are observing. - The manipulation process is always looking for something to latch onto in order to trash the bid to the extent that the market drops through the stops.

There must have been serious pressure put on the White House ,or was it worries about next year's election?

After the news of the deIay of "some" sanctIons on China till December. Gold drops like a stone !
Along with SP.
Amazing how quickly the reaction is to negative news, lol.
"Its a traders world" , brings Abbas rich man's world to mind..
But tomorrow is another new day.

Mizolgit Yes agreed good year end numbers are certainly what we are all interested in BUT share price will still be impacted by whatever numbers are provided at the end of the 3rd Quarter.
Additional good numbers for 4th quarter will be impacting on previous increases from 3rd quarter like Compound Interest over and above Simple interest.
It is of major importance that we see a trend of improved grades in the 3rd Qtr to lessen the impact of the higher strip ratio and as such the next quarter will hopefully show us the direction and give us confidence that we are on the right track because as of end first half as far as I am concerned improvements are only marginally better than last year except quite obviously the excellent Gold Price.

The share is already up 75% helped a bit by recovering production and sentiment, but goes up (or down) like a staircase as the gold price and share price play catch up. But overall mining shares buyers can’t quite yet believe the gold price rise is for real having been caught out so many times. If it sticks then a few more stairs to climb imho. In my simple maths every $100 on gold should be $25m roughly on profits or 1.5% extra annual return per share or around 25% on share price, ....I think ???

Yes I was wondering why sp is dropping given gold price but must be profit taking and nothing more.

Who can blame holders

Prof isn’t it lovely. Even better cey is beginning to seem a bit undervalued. When cey was fair value at 80 or 90 gold was nearing $1250, so it made $300 an ounce profit (halved by profit share). With gold at $1550 profits should be double, so the shares should be double less 7% for the overall falling market and so lower pe’s. Then add 7% back for fall in the pound, and these should be 160+ if gold price is seen to hold.

$1534 and we have not moved hardly !

$1524 , looking strong

Precious metals jump as Hong Kong risk rises
Gold peaked once more on Tuesday at the strongest level in six years and four months and silver surged with investors rushing to preserve value. Markets were rattled by the ongoing trade war between the United States and China and the impact on the economy. In Hong Kong, the dispute about the now failed extradition agreement with the government in Beijing grew into everyday clashes with the police over general matters.

China is hinting at intervening with troops amassed near the autonomous territory, which could worsen further the relations with the US and other Western powers. At the same time, stocks are taking a beating worldwide on an economic slowdown and central banks are racing to provide stimulus and currencies are suffering. Of note, Argentina's markets and currency crashed yesterday after President Mauricio Macri lost a primary election with a wide margin.

Gold advanced 0.56% at 7:53 am CET to $1,520.13 per ounce. It is nearing a record high in euros. Silver soared 1.67% to $17.35 after touching $17.38 for the first time since February 1 of last year. Platinum gained 0.53% to $862.43 and palladium rose 0.62% to $1,440.06 for one troy ounce.

Breaking the News / IT

European shares mixed premarket ahead of inflation data
Shares in Europe traded with mostly with modest gains on Tuesday before the bell as investors awaited inflation data for Germany as well as economic sentiment data from ZEW coming later in the day. Meanwhile, tensions in regards to the trade war between the United States and China continue. Yesterday, Moody's said that the duties Washington is set to implement from September will have an overall negative trade impact and harm growth in both economies. On Wall Street, the uncertainty was boosted by tensions over protests in Hong Kong, where China sees influence from the US.

The DAX added only 0.06% at 7:38 am CET as the FTSE 100 increased 0.16% in premarket trading. The CAC 40 slid 0.06% at 7:42 am CET.

The euro lost 0.20% on the dollar at 7:40 am CET, selling for $1.11915. Meanwhile, the pound was 0.07% lower against the greenback, going for $1.20668.

Breaking the News / NI

$1519.65

Centamin has confirmed that it is listed on the TSX and has been for 10 years now.

Gold in GBP has hit 1257 in the last hour. A few months ago I was hoping it would go back through the 1000 mark!

Thanks Mr T.
Dusut .
Like you,and probably many other lth.
I will be interested more in end of year figures.
If gold continues to perform as well as increasing production ,it is possible an excellent result.
Time will tell.

Thanks Tibbs I hope we see the benefits of lessons learned with the next quarter results as although we saw improvements in the first half of this year I am not as impressed as I had hoped I would be.

AISC includes head office and all costs associated with mining, selling, etc of the gold. Exploration costs tend to get capitalised on the balance. The answer to the quantum is $10.4m for exploration in West Africa.

Firstly, the H1 2019 cash costs of production are in-line with the Company’s 2019 budget and importantly the unit costs (per ounce) are trending towards the lower end of the FY19 guidance range with the increased forecast production in H2. Centamin is a lower half cost curve producer and remains acutely focussed on tight cost management of the bottom line. The Company has flagged that the key driver of increased absolute (US$m) costs is increased volumes. In 2019, Centamin are mining and processing more tonnes, and therefore consuming more input costs, ie fuel and reagents.
Specifically, 12% more material mined from the open pit and 6% more tonnes processed translates into more costs, but costs are within budget and guidance. And these increases in volumes resulted in increased ounces and therefore the unit costs are 9% up YoY, which still has us in the lower half cost curve.
The focus on the company is on producing the most cost efficient ounces.

The challenges of 2018 impacted production but did not impact the geological model and therefore the gold in the ground. In 2019, through improved controls, systems and skilled workforce, higher grades have been delivered across the operations, balanced with the optimal level of output, to maximise margins and produce profitable ounces.

The ongoing ambition of the Company is to maximise free cash flow generation through the production of cost effective ounces.

Hope this helps everyone

Best Wishes

Tibbs

The past 15 months have not been easy and the events of 2018 caused the market and many shareholders to doubt the Centamin management’s strategy.
However the Centamin management have stated that lessons have been learned from the events of 2018 and thus so far it seems that a turnaround at Sukari and promising progress in other areas are indeed taking place.
I do hope that the statement from Centamin and the answers to some of your recent questions will help fellow Centamin share holders to feel more appreciated and certainly more optimistic about the future.
From the company-
Centamin highly values all of its shareholders, large or small, as it understands that every stakeholder is on the same journey as themselves – whether it is in good times or bad. Though the company is now firmly a mid cap and one of the biggest gold producers listed in London, the support of small shareholders, whether it be in London or in Australia in its earlier days, has been the key to getting it into the position it is today.
Very few gold miners get the privilege of exploring, developing, and then producing from an asset, and without doubt Sukari has been a phenomenal success when compared to almost every other peer asset.
We have the added advantage that this privilege has an extended play of over 15-20 years still to come.

Looking good as there is a continuing appetite for gold as it pushes through the $1500 again hopefully we will soon see a similar trend with our SP.

It is normal , traders taking profit , others buying in the dips.
A healthy sign .

Gold bouncing back , nothing goes up in a straight line!

So Fridays gain eroded this morning so far, pushed a few through their stops no doubt!

European shares rally in premarket

Investors took the cue on Monday from the repositioning in Asian markets and sent stock indexes in Europe higher, deciding equities have been oversold in the past month. Gold and silver, the most conventional safe havens, were in the red, also indicating a degree of risk appetite. China set the yuan's midpoint rate, lately one of the most widely watched catalysts amid the trade war with the United States, at 7.0211 per dollar. The level was weaker than Friday's 7.0136 but still a tad stronger than market consensus.

The euro moved just 0.07% up at 8:16 am CET, buying $1.12074, and 0.12% lower to £0.93032. The pound grew 0.18% to $1.20467. Gold slipped 0.14% to $1.495.45 per ounce while silver weakened 0.57% to $16.87 for one troy ounce.

The FTSE 100 advanced 0.41% in London. The German DAX index was 0.61% in the green and the CAC 40 rose 0.62%. The Euro Stoxx 50 rallied 0.52%.

Breaking the News / IT

https://www.mining.com/worlds-thinnest-gold-created-in-the-u-k/

See link chaps, we also get a double whammy with sterling falling and Gold is now up 32% converted back to GBP. Great news!!
https://www.bloomberg.com/news/articles/2019-08-09/hedge-funds-go-all-in-on-gold-as-currency-wars-lift-haven-buys