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An excerpt from Centamin IR latest reply (parenthesis all their words - not mine)
" Accusation of misleading statements in the Annual Report - Centamin have not made any misleading statements in the Annual Report... "
"... the Sukari 2D seismic was a trial of the technology. That means the technology was trialed over known gold structures. No material information from that study has been withheld. The technology confirmed several of the structures, but management concluded not to allocate capital to the 3D seismic survey..."
-------------------------->>>
My Thoughts:
Figured I needed to keep fellow shareholders in the loop as to Centamin's replies. If anybody has had other replies regarding the HiSeis survey and they would like to share - please do.
A few points of contention:
1) The original response I got from Centamin said "in 2019 we trialed a 2D seismic survey to see what the data showed. The quality of the data was inconclusive"
How then in their latest response can they say the HiSeis survey "confirmed several of the structures" Either it did or it didn't!
2) Remember that Centamin's Audited Annual results of 2019 states " ...initial data interpretation is very encouraging, identifying multiple potential gold systems and exploration targets..."
3) To date NO HiSeis data, graphs or details other than that extremely positive statement in Centamin's Annual Results has been shared with Centamin shareholders or the general market.
The HiSeis survey results however can and probably already has been shared with interested 3rd parties.
4) The 10k meter brownfield drill campaign around Sukari (which is now likely concluded) relied on the data obtained from the HiSeis survey to pinpoint drill targets - which makes the seismic survey data highly, highly relevant and most certainly 'material' which means they are legally bound to share it with the market
I continue to call on Centamin's management to release the results of the HiSeis survey to its shareholders and the general market immediately.
Please share this chat post with Centamin IR if you too agree
here's the linkedin post IR has an issue with
https://www.linkedin.com/posts/don-lawson-98619370_centamin-sukari-gold-activity-6897246917709955072-Mzmo
Sotolo,
Shareholders were all made of the reason that AISC would increase albeit in the medium term in order to make the necessary changes to Sukari for the benefits of the longer term.
I couldn't care a jot about HOC, it's a pile of poo in comparison to the potential prospects for Centamin.
As Dasut explained on several occasions there really is no alternative way of rectifying the results of years of bad mining practice than what Martin Horgan is doing now.
As Kees Dekker remarked with the new strategy Centamin investors can now just sit back and enjoy the dividends whilst the recovery takes place!
You really are worrying about things you have no control over,and its pointless, just wait and see, or bail out into some other mining company, but most likely they have their problems which they won't tell you about.
Options Expirey Day.
Will be interesting/
As for CEYs AISC, that is temporary.
maybe some good news soon.
This share. is always following others and AU like the proverial tortoise.
Unless there is crap news then it drops like a stone.
Thanks Prof, I think the big disappointment is the hui gold mining index is up 15%, the Gdx over 20% so we should be laughing, yet Centamin and Hochschild lag way behind with Cey up 10% and Hoc up a measly 2%, partly I think as their high costs mean investors seem to think there are better mining alternatives immediately than speculating on shares like these coming good. Let’s hope they start playing catch up, who could have believed both these around £1 with gold at $1900 but then who could have believed costs also going up to 50% higher obviating the gold rise.
If this continues surely £1 a share must be a strong possibility…
Gold at 1901 now
Sotolo,
I agree that pessimistic comments on this boards are key to balance. It is very easy for us all to end up rebreathing each other's overly optimistic air. After all most people who are on a company BB hold that company and are therefore (presumably) positive about it.
Let us hope that we have many more days like today. Gold just at few hundreds of a cent off $1900 a short while ago.
Best wishes,
Prof
M&A takes time, and it could happen at any time, as we won't be privy to this info.
Any concrete rumour causes a jump (if a favourable one of course).
You won't get advance notice unless on the inside- so if you don't hold stock, you miss out.
Bristow the typical narcissist loves himself and hearing himself pontificate even more on just how great he is !
Anyone who thinks that Centmin have poor at investor communications should try getting anything other than corporate baloney and bullsh*te out of Barrik, truly an awful company specialising in exploitation of employees, shareholders and the natural environment!
If there were M&A or takeover talks going on , and I very much doubt there are, then they would be subject to the usual market rules of disclosure, so much as we would like to know more sooner than anyone else it ain't going to happen until the regulations allow by the appropriate means.
Yes Bristow is 7% up as well , his own ar*se that is !
patryk, yes gold up 7% but so is inflation
Well Prof it has been a lousy year with this which has fallen more than two fold, and worse Hoc, as you mention, down by over three fold, both hit by lower ounces and more important much higher costs that will only be rising further with inflation. So the question with both is can they and the gold price improve faster than inflation pushes their costs ever higher; ever hopeful but what a hit! The good thing has been what is now my largest holding and I have mentioned a few times here, Tharisa that has risen 25z since Xmas, and 50% since Nov and is still super cheap valued at under half Cey while pushing out much bigger profits, that are fast growing; and my investment is entirely thanks to Tiger on this board, who did sell out around 200 and recommended Tharisa here. It shows how useful pessimistic comments are on these boards as well as the more usual optimists
And Cey up 4p from 90p this is crazy…
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Hi Sotolo,
Thanks. Not sure about the wise though. That would have seen me out when we were over £2.
How are your investments going? I am taking quite some pain on FRES although fortunately did not put too much in. HOC is a car crash although made enough there on short term trades before it dipped badly and was not particularly exposed at the time. SLP getting better but still down. THS about level. RMM level pegging(ish) but expecting great things. JLP the golden child.
Are the investments enabling the build yet?
Best wishes,
Prof
Russia's claim that it is moving troops away from Ukraine's border is "false", according to a senior White House official, who added that 7,000 extra troops have arrived in recent days.
The US official also said that Russia could launch a "false" pretext to invade Ukraine "at any moment".
Moscow says it is moving troops away from the Ukrainian border after the completion of military exercises.
But Western officials say they have seen no evidence to support the claim.
"Russia must take real steps toward de-escalation," US President Joe Biden and German Chancellor Olaf Scholz agreed in a phone call on Wednesday, according to the German chancellery.
https://www.bbc.co.uk/news/world-europe-60407010
Since the start of the war in 2014, almost 1.5 million people have been internally displaced in Ukraine.
As tensions rise over a potential escalation with Russia, families who have fled once before are worried they will have to run again.
https://www.bbc.co.uk/news/av/world-europe-60370227
https://www.bbc.co.uk/news/av/world-europe-60403848
Video released by the Russian defence ministry appears to show tanks crossing the Crimean Bridge on a train heading to Russia. The convoy of the Russian Southern Military District units were leaving the peninsula after "planned drills," the ministry said.
https://www.bbc.co.uk/news/av/world-europe-60400649
On Tuesday, Moscow announced it was withdrawing some forces near Ukraine. But, US President Joe Biden said more than 150,000 Russian troops were still amassed near Ukraine's borders.
https://www.bbc.co.uk/news/av/world-europe-60382182
I see your snap and raise you one ditto
Prof, snap (and lovely to see you and your wise words here)
But what should they say?
If they had said and some thought, interest rates go up .5 in March- gold and stocks would have dropped a lot...
Am happy with what was said.
I note -
Fed officials issued a statement saying that it would "soon be appropriate" to raise the central bank's benchmark overnight interest rate from its near-zero level.
also that "any decisions would depend on a meeting-by-meeting analysis of inflation and other data," according to the minutes of the Jan. 25-26 policy meeting.
Was that referring to "Pre FED massaging " or "Post FED messaging " of the true facts ?
Wonder when exactly, same old song, same old bluffing from the same old bunch of crooks!
...
Gold is up spiking because of Russia/Ukraine but more fundamentally because of inflation now being acknowledged. With the regards to Russia, regardless of whether they invade or not the relations East/West are going to be in the doldrums for many a year. Even short of war there are a whole spectrum of interventions that both East and West can to, short of war, that will cause serious economic damage from gas pipeline energy restrictions to freezing of assets and of course cyber disruptions. With regards to inflation well what did we expect with the amount of money printing over the past few years.
Now turning to Cey I think Hogan is slowly getting their house in order. He is taking the hits early (ish) in his tenure which is what a good turnaround CEO does. I was hoping we would be starting to see daylight this year so was shocked by AISC up over $1400. I think by next year we should really see a difference but my worry is that I could be wrong and it could be another year still.
So in short yes I think the opportunity is there and the market will cotton on an rerate this. But no (if I can be disciplined) I won't buy anymore.
Obviously just my slightly rambling views and would really like to hear what some of the other posters think.
Best wishes,
Prof
Hi Early Bird,
That is the million dollar question. Although with inflation running at current levels a million dollars is not what it use to be!
A few years ago you would not have put any money on Cey being well under a pound with gold just short of $1900. Then again a few years ago you would not have put money on the monumental mess that previous management have left current management to clear up.
I am very tempted to buy some more however:
1. I have rather a lot already
2. What if gold falls back before the market moves Cey back up?
On balance I suspect we should have a good year.
And so after the most ridiculous of rubbish since Saint Princess's ANDREWS forays into innnocent young women, we are now suggested that the Fed (owned by private intsutions) is a magnificent guiding force and there will be nothing but good things for all. The fairies at the end of the garden have never looked so attractive?!!
Russia is continuing its military buildup around Ukraine, Western officials said, even as Moscow announced it had begun drawing down some troops and released footage of tanks and armored personnel carriers departing Crimea. LOOKS CAN BE DECEIVING !
On Wednesday, the day some U.S. intelligence officials had said a Russian invasion was likely to occur, Ukrainians rallied across the country in a display of solidarity and defiance in morning ceremonies. A cyberattack rattled the country the previous day, targeting the Ministry of Defense and two of the biggest banks, temporarily disrupting payments and showing zero balances on accounts.
And the band played WALTZING MATILDA
1...
A very hunger travelling worker (swagman) is resting under a shady eucalyptus tree (coolibah) by the banks of a watering-hole (billabong). He has lit a fire and is making himself some tea in a tin can (billy) that he is using as a kettle. While he is waiting for his tea to boil, he is singing a phrase that asks, " who will keep me company—who will be my friend?"
2nd Verse
While there, he notices a sheep (jumbuck) wandering down to the watering-hole for a drink. The swagman is starving, so he catches the sheep, kills it, eats what he can, and stows the rest in his backpack (tucker bag).
3rd Verse
Unfortunately for the swagman, the wealthy landowner (squatter) comes to the water-hole. He is mounted on his expensive horse (thoroughbred) and is accompanied by three policemen (troopers). They catch the swagman red-handed with the remains of the sheep in his backpack and try to arrest him for killing the sheep.
4th Verse
Preferring death over imprisonment for his crime, the swagman jumps into a water-hole and commits suicide. Ever since that day, his ghost still haunts the waterhole and can be heard singing. "Who'll come a-waltzing, Matilda, with me".
and on it goes,,
stupidty reigns supreme !
the gnome
ie don’t shoot the messenger, we need them!