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Hi Tibbs
What a succinct evaluation . In my experience (albeit in a different industry) sub contract exposure was limited to short term contracts whereas long term such as Sukari would undoubtedly benefit from "in house " exploitation. I take much confidence in Hogans management so far and his now more public and Investor oriented visibility. Softly softly catchee monkey.
Regards
Bob
Here is another take on the stupidity of the markets and the money men...from Ray D
It seems to me that people who received a lot of money and credit and felt richer, central bankers and central government officials who created a lot of money and credit and said that it wouldn’t create a lot of inflation, and people who believed what these officials said would all do well to review the lessons from history.
More specifically, this time around (i.e., since early April 2020) central banks (most importantly the Fed) and central governments (most importantly the US government) gave people, organizations, and state and local governments a huge amount of money and credit, and now most everyone is surprised that there is a lot of inflation.
What is wrong with these people’s thinking? Where is the understanding of history and the common sense about the quantity of money and credit and the amount of inflation?
Indeed whats is wrong with these people?
https://www.linkedin.com/pulse/where-we-big-cycle-money-credit-debt-economic-activity-ray-dalio/
If you dont believe Ray in 2022 try 1852, the EXTRAORDINARY POPULAR DELUSIONS AND THE Madness of Crowds.
Part of the human condition. The trouble is with the people who read the true history and recognise the madness and delusions for what they are worth ...
"This time it won't end in tears" etc "Things always go up" "Bubbles dont burst"
the gnome
Hi 3bear,
I apologise for butting in but re your question regarding current share price weakness, on the contrary if done properly and as proposed then taking services in house will have exactly the opposite effect .
The opinion of a highly experienced and respected mining analyst-
Using contractors for mining is almost always a bad idea. Only when there is a short term mining project such as the pushback at the open pit there, you could argue to use contractors. It is not worthwhile and efficient to equip and staff up for such a project.
When you have a longer term mining project you should use an owner miner approach for the following reasons:
- Mining is the core activity of any mining business. If you outsource this activity you never build up an in-house expertise. It would be similar for an information business to outsource design of information system and programming activities.
- It is more expensive as the contractor will build-in a profit margin. Should they miscalculate and go under, you will have to take over at short notice, which results in a shamble, loss of revenue, appointing another contractor which knows it has you by the balls, or you have to equip and staff up quickly, which in practice is impossible!
There is a general loss of control in directing mining activities when having to work through another party.
Should be a good 1st quarter given that 20k oz was carried over from last year. Gold price is up which goes straight into the cash register for no extra work.
Egypt International Mining Show
530 followers
5h • 5 hours ago
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We are excited to Welcome Centamin PLC as Featured Gold Sponsor for 3rd Egypt International Mining Show - Virtual Connect 2022.
Centamin's principal asset, the Sukari Gold Mine, is a long-life, bulk tonnage open pit and underground operation. It began production in 2009 and is the first large scale modern gold mine in Egypt, as well as one of the world’s largest producing mines, forecast to produce in excess of 400,000 ounces per annum with a 12 year life of mine. The Company’s solid financial position, strong cash flows and development and operating experience provide us with a significant advantage in acquiring and developing other gold projects. We recognise our responsibility to not only deliver operational and financial performance but to create lasting mutual benefit for our stakeholders through good corporate citizenship. Website:- https://www.centamin.com/
Register here:- https://bit.ly/3qauUcp
Martin Horgan | Emilie Hodson | Howard Bills | Alexandra Barter-Carse | Amr Hassouna | Ross Jerrard
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It seemed so odd they never participated before - wonder what has changed?
Mr T I was suggesting that the big thing that would make Centamin come good is a higher gold price, rather than improvements in its output and costs which are rather limited. I was also suggesting that the rises because of events like Ukrine are often short lived and that I hoped this time the rise was partly because of economic events which we all believe should drive gold higher and might finally be beginning to do so. We shall see if indeed this gold pullback is temporary. Of course I am also sure that most of us would prefer a much better economy that didn’t raise gold, but most of us see the terrible economic situation that should at sometime make our insurance policy payoff
Russian army returning to barracks apparently which is great news for us all. Pog obviously retreating too but I'd rather not profit from war anyway. Centamin will come good on its own back given time.
I didn't know the Sun has developed some kind of mind readnig machine that can read Putin's mind lol
I have no idea why it goes up as the same percentage as gold when increasing in price yet falls at 3:1 ratio whatever gold price retreat does. Perhaps its a rush to sell by those who bought on the way up, but everybody tries to fit through the exit door at once.
According to the latest reports of British media, Russia is to attack Ukraine on the night of Tuesday to Wednesday, reported the tabloid 'The Sun'. Sources close to US intelligence say up to 200,000 people could participate in the invasion. Russian soldiers.
Tony do you think current share price weakness is linked to the decision of taking underground ops in house? Cannot understand why cey so cheap at the minute - if I had any money left I'd buy more and get my average down from 94 which is already super cheap in my view
I expect the world will change on April 20th when Centamin release their Q1, 2022 report, provided the company has managed to increase production as previously forecast.
Centamin having been pulling in the dosh and producing more by all accounts. This should be at least 100p. We have been done over just as the girls say in the Little Mix breakup song.
Hi Sotolo,
I'm sure we all agree that its by far preferable that Centamin will come good out of it's performance rather than because there is a risk of a nuclear war in Europe.
We have friends in Germany and its widely known across Europe that UK Governments ministers have been regarded as a joke by the Russians in the Ukraine negotiations, however the Russians do treat the German representatives with great respect and take their views seriously.
It was always going to be a case of wishful thinking on the part of those that popped in here hoping for a sudden meteoric share rise, but then had they obviously hadn't realised the severity of the loss of market confidence that the behavior of the previous management had brought about.
The BOD realise they are in "The Last Chance saloon" and Martin Horgan in many respects has Carte blanche" in order to turn things around and to be fair so far as the available news suggests he appears to be doing just that, look at Cowichans post ,some remarkable and measurable progress has been made at Sukari in the clean up operation which so far is well ahead of schedule!
Thinking back the reasoning for Centamin to embark on so many projects outside of Egypt in most respects is no longer valid, in fact quite the contrary would seem to be the sensible and certainly less risky option to follow now and for the foreseeable future.
I wonder if any of our short term traders had bothered to buy any Shoe Zone (SHOE)aim market
Just over a year ago?
Last year I was sitting in a pub in our otherwise run run down town center opposite one of their stores ,I noticed just how busy they were and the flow of shoppers was pretty constant, I watched the shop on several other occasions before deciding to go in.
Whilst trying on some £6.99 deck shoes I asked the assistant is she had been busy, she replied that they were always busy everyday, I bought two pairs of deck shoes for £10 and left.
Next day I bought in @61p and sold around a year later at £1.52.
Just luck maybe, or possibly taking the trouble to do some on the ground research helped?
Quite agree Steve, but then Americas presidents are really chosen and controlled by the shadows behind the closed doors, those with all the vested interests and money in keeping things the way the are which will ultimately destroy our planet.
So now they got Biden lol
I didn't want either Clinton or Trump , neither were fit for office,certainly the latter has proven that!
interesting call wildtiger. The USD money supply expands without limits. It floats on trust, which must surely be in short supply. If you think trust is well founded read on, and watch the disgraceful revelations now hitting the street in the US
The latest from the US about their former leaders ...
The 2016 Hillary Clinton campaign’s bogus Steele dossier of allegations against Donald Trump deserves its infamy in the annals of political abuses. But if a Friday filing by Justice Department special counsel John Durham is accurate, the creation of yet another Clinton-backed bundle of deceptions was no less appalling.
To sum up the special counsel’s argument in this case, an appalling abuse of private and public resources to gather dirt on Donald Trump did not turn up any dirt. So the alleged perpetrators just pretended they had found something significant and tried to persuade federal agencies that Mr. Trump had disturbing connections to Russians. Mr. Sussmann maintains that he is not guilty and deserves the presumption of innocence just like everybody else.
As for the political campaign that was paying the bills, was there anything that Hillary Clinton would not do to her 2016 opponent?
More at ...
https://www.wsj.com/articles/hillary-clintons-other-dossier-11644852226?mod=trending_now_opn_4
You trust the US Govt? Many wouldn't. Good luck
https://www.washingtonpost.com/world/2022/02/01/what-is-nato-treaty-article-five-russia-ukraine/
the gnome
Depends how much of the gold price is because of being a safe haven and Ukraine, and how much is beginning to catch up with increasingly negative real interest rates: if the latter the pullback may be short lived IMHO
Unfortunately gold is no longer the best safe-heaven asset, I personally rather hold US dollars than gold as a hedge.
Its good that the invasion wont happen, but bad for safe havens like gold when everything else goes back up. Ah well, will continue to hold.
Glad I sold my last lot this morning at 93.3 with a small profit. When I saw the Chinese confirmed they're not moving anyone out of their embassy in Kyiv that was a clear sign Russia won't invade
Already markets turned positive- at the beck and call of the Ukraine situation at the moment.
European exchanges were lower on Tuesday as market participants remained squarely focused on developments concerning the standoff between the West and Russia in Ukraine. Investors will also keep their eyes on Eurozone's GDP, employment, trade balance and economic sentiment data, all set for release early in the trading session.
The DAX declined 0.46%, London's FTSE 100 decreased 0.26%, and the CAC 40 lost 0.14% at 8:00 am CET.
The euro was 0.26% higher against the dollar at 7:59 am CET, trading at 1.13238. The British pound was flat compared to the American currency, going for 1.35309 at the same time.
Baha Breaking the News (BBN) / MS
3 hours ago 2 applicants
Metallurgist
Metso Outotec Marsa Alam, Al Bahr al Ahmar, Egypt On-site
Full-time
https://www.linkedin.com/jobs/view/2916774808/?refId=4USijEYQQ9uHhS3t8%2FdwrQ%3D%3D
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Previously all I've seen of Metso involvement at Sukari was supplying new mill liners. Does this mean there could be processing plant expansion plans at Sukari? Or perhaps some different ores to be processed? Other??