Centamin PLC Share Chat (CEY)

Hi All

What a ride its been for the long term holders some got out at the top some took a bit of pain on the way back. But its unlikely to reach the highs again even our good friend Siko is out and by his own comments unlikely to come back. Mr Tibbs is a wealth of info and opinion as our many others, maybe its time for this great board to find a new venture and pool our resources time for a pasty and a pint in Cornwall and wave goodbye to a company that is stiffing you

US$1418, please!

Oz interest rates going down new record 1%, only 2 more stops.
https://www.abc.net.au/news/2019-07-02/interest-rates-at-1pc-may-be-new-for-australia-but-not-overseas/11271268

but then can we catch the Swiss
"SNB meets this week, expected to keep deposit rate at -0.75%"
https://www.bloomberg.com/news/articles/2019-03-19/world-s-lowest-interest-rate-brews-trouble-for-swiss-property

Denmark -0.65%, Sweden -0.5%

..>>>> A MASSIVE STATEMENT OF LACK OF CONFIDENCE IN THE GOBAL ECONOMY! Low interest rate environments are meant to stimulate economic growth by making it cheaper to borrow money to finance investment in both physical and financial assets. One special form of low interest rates is negative interest rates..AND THE BAND PLAYED ON, SO BADLY, THAT PEOPLE BOUGHT GOLD BARS?
“Robust economic growth is essential to reducing poverty and boosting shared prosperity,” said World Bank Group Vice President for Equitable Growth, Finance and Institutions, Ceyla Pazarbasioglu. “As the outlook for the global economy has darkened, strengthening contingency planning, facilitating trade, and improving access to finance will be crucial to navigate current uncertainties and invigorate growth.”

The international economic order is on thin ice>>

Governance of the global economy is fragmenting as multilateral institutions become less representative of current realities and economic integration becomes more regionalized. The potential demise of the post-World War II economic order would herald weaker long-term prospects for global economic growth and prosperity as well as a more complicated international regulatory environment for companies.
The global trade system is at most acute risk of unraveling. Protectionist policies, violations of both the rules and the spirit of free trade agreements, and a looming risk that the World Trade Organization’s dispute settlement mechanism will cease to function create profound risks for the current system of international trade. In addition, the US–China trade war threatens to weaken global growth prospects while raising costs and creating supply chain disruptions for many companies.
Companies need to adjust to slowing growth in a multi-local world. It is becoming clear that the new age of multi-localism—characterized by the preference for local communities, industries, products, cultures, and customs—is extending into international economic governance. National governments going it alone to implement policies outside the structures of the traditional multilateral institutions and are pursuing regional economic integration as global agreements become less desirable or untenable. To compete in this environment, companies may need more regional supply chains and greater devolution of management and operations to the local level!
https://www.atkearney.com/web/global-business-policy-council/article/?/a/global-economic-outlook-2019-2023-on-thin-ice

GOOD LUCK all!
THE GNOME.

Knocking on the door of 1400.
With buyers in US.

I agree entirely,it was an American sub contractor who didn't do their job properly that caused the leek although I agree BP should have supervised them better, but never the less BP and its share holders got spanked.
The US court made it impossible for BP to refuse to pay any claims from US businesses,even from the fishermen who hadn't been to sea for years because of unseaworthy boats!
Look at VW absolutely spanked for using default software and yet GM have been doing it for years!
Now Trump is putting more tariffs on European products because Europe won't buy Boeing planes that have faults which cause them to crash and kill people1

Gold did have rather a good run, I guess that a pullback and consolidation is healthy, before the opportunity to rise further.

Unfortunately the Mms don't use rationale ,they use any little thing to push the prices in both directions depending on their current position. And the sheep follow.
So there must be collusion ,as they share information ,the cartel.
Look at the number of institutions that have been fined over the years.
The problem is the punishment is not equal the crime.
The fines and compensation , should be equal to BP s Deepwater horizon ,then they might take notice.

I agree, lets hope we are in the right miner...

So what has happened over the weekend to drive gold down?
1. Trump and Xi agreed to talk again and not make matters any worse on the protectionist side for the time being (but broadly not make them any better either, leaving existing tariffs in place). Well we all know how well that went last time they had talks.
2. Trump walked 30 paces into North Korea for a photo opportunity and agreed to talk again with Kim. Well we all know well that went too last time they had talks.
Meanwhile world growth continues to be downgraded, the US continues to run an enormous deficit, the US and Iran are at fundamental loggerheads, we have two candidates for UK PM with policies that the current Chancellor says are unfundable and polices for Brexit that few believe in, Hong Kong in riots, ice storms in Mexico and record heat waves in Europe.
I think I am fine in gold and gold miners for now!

Europe higher in premarket ahead of data

European equities rose in premarket trade on Tuesday following yesterday's strong session as the United States and China made progress in trade talks. During the G20 summit in Osaka, US President Donald Trump announced he agreed to delay any new tariffs on Chinese goods and ease restrictions on American companies from selling products to Huawei.

On the data front, investors awaited retail sales figures for Germany, UK housing prices and construction PMI, and the PPI for the Eurozone.

The DAX gained 0.11%, the CAC 40 advanced 0.16%, while the FTSE 100 climbed 0.28%. The euro was virtually flat against the dollar at 7:52 am CET, buying 1.1287, while the pound declined 0.06% versus the greenback, going for 1.2633.

Breaking the News / JC

+ 0.54%. + $7.42 $1391.37

High of the day $1393.31

Tibbs OK thanks I didn't read this as a 3 year plan but will be interested to see how much detail the guidance provides.

Dollar index +0.70%
https://www.bloomberg.com/quote/DXY:CUR
Live spot GOLD
https://www.bullionvault.com/gold-price-chart.do

HI Dasut,
Yes, you are correct Mr Pardey was dead against the idea and then did a complete U turn during the very last presentation
Page 35-36 Deliver 2020 – 2021 guidance in Q2 2019

At least there has been some progress in the SP of late, recovering some of the opening slide. - The big question now is 'Will Q2 allow us to hang on to it and progress from here, or, will they send us back down the mountain where we have been so many times before, leaving us a vertical cliff-face to once again attempt to climb?

Tibbs where did you pick up on a 3 year plan being presented as I can't find anything on their web site? I know it was asked for at the last phone in but thought Pardey was pretty adamant that he wasn't going to provide a 3 year plan.

I agree it is impossible to accurately predict things such as the POG over three years.
However it should be possible to give some idea on when they are actually going to start bringing some ore out of other areas they have been drilling in West Africa.
After the events at Sukari in 2018 I have lost much of the faith I once had in Centamins management and I wonder if all this drilling and exploration is just a diversionary tactic.
Of course it may provide work for Capital drilling, but then that may be in Centmins interest!
Giving share holders lots of colored detailed reports on finds is all well and good, but its time that they started to get the gold ore out and shipped to market!
Investors want production not promises!

Hello Tiger...
I am of the same faith as yourself as far as Cey is concerned.
Over the years the rant that they the come out with on any conference call proves to be just noise for the day. No follow up.. ever!
I’m also out at the minute and tbh would find it a big decision to reinvest.
I also feel if someone had told me not so long ago when gold was circa $1275 and Cey was circa that gold was going to go off the richter scale the way it has, I’d have been picturing Centamin at £1.40’s

I’m not of great faith at the minute.

Well, the Q2 results should arrive on 18th July, according to Centamin's website.
To be frank, I don't place a lot of weight on the missing 3 year outlook, in itself. It's hard to predict gold production accurately that far in advance.
But the fact that it was promised, and then not delivered on time, well, that makes me uncomfortable and suspicious. I sold out last week, and I think I'll give Centamin a miss until the Q2 results.

From Buchanon,

Centamin will probably do this in conjuncture with Q2 production results.
This will probably be next week or the week after.

Deep down in our minds we have come to associate silence with failure and ultimately shareholder punishment. The current perception is that there has been a change of tac in the way the company are now to report going forward. There is a general acceptance that this must good for everybody, that the company has learned lessons and has turned a page in the way it communicates. - The first chapter in this new book is about to be read. - We'll soon know. - Let's hope we are not once again, victims.

I asked them a few times when this report was coming. No answer. They are letting the market and shareholders down yet again. Why report that you are going to do something, then don't bother. Very poor IMHO.

Now late, what is the reason ?

Bigoted hypocrite Trump goes out of his way to meet with the leader of one of the worlds most repressive regimes which has actually launched missiles capable of carrying nuclear weapons to mainland America, yet he put sanctions on Iran and threatens other counties that fail to do the same despite Iran's regime becoming more liberal, Iran has also has stated that it has no intention of developing nuclear weapons.
This is all about Trumpos re election campaign and helping to support the dollar and shale gas exports!

European stocks jump premarket on trade optimism

European markets rose in premarket trading on Monday on fresh hopes the United States and China will resolve their trade dispute following a meeting of their presidents, Donald Trump and Xi Jinping at the G20 summit. At the meeting, Trump agreed not to impose further tariffs on Chinese goods and to allow US companies to sell equipment to Huawei. The two leaders also agreed to continue with trade negotiations, but the US president noted he was "in no hurry" to reach a deal.

Investors also digested Trump's meeting with Kim Jong-un at the Demilitarized Zone (DMZ), where he stated Washington and Pyongyang will resume denuclearization talks in the coming weeks and invited the North Korean supreme leader to visit Washington "at some point."

The FTSE 100 climbed 0.90% premarket at 7:52 am CET, the DAX surged 1.31% and the CAC 40 jumped 1.05% at the same time. The euro fell 0.39% against the dollar to sell for 1.1326 at 7:53 am CET.

Breaking the News / NP

— 1.72% — $24.90. $1386.01

High of the day $1409.77

Low of the day $1384.26