Centamin PLC Share Chat (CEY)

Often, mick :-)

THANKS for the TA 1onic
Hope you don't regret....which is the danger if no skin left in the game
ATB

I'm out aswell. Put my money in another gold miner. GGP could have one of the biggest discoveries in recent times. Dyor

To everyone, that's me out today, 100 and 200dma hit. A break of those two signals a good upside but for the moment I'll take that. Been an absolute bugger to chart imo.

Here's the latest daily https://ibb.co/sQ7t9xj

I notice in Cowichan's post tthat it syas "The amendments to the third article include licenses being valid for mines, quarries, and navigators if they were issued before the law was in force." This would lead me to believe that Centamins licence would be updated and the old one destroyed.

Is this how the court case ends? Not with the bang of an Egyptian judge's gavel, but with the shuffling of some papers and a parliamentary rubber-stamp?
If and when the new mining regulations are passed into law, what is to stop EMRA, using its new powers, simply reissuing the 160km2 licence to Centamin, thus bypassing the courts and making the court case redundant?
(FWIW, I don't think these Egyptian legal developments are behind today's rise, because nothing is finally decided yet in Cairo, but hopefully good news should be coming from this quarter soon. IMO, today's rise is simply Centamin bouncing back after a big seller took the share price down from about 91p to 84p PLUS the effect of the rise in the gold price of the last few days. I'd love to speculate about the forward production outlook having leaked, or about a takeover in the works, but I think that is making things too complicated.)

nice lets hope it keeps going this time

Up 10% and roaring again!!
GAME ON mrtibbles.....

Thanks Cowichan for the update. - Things are progressing then? - Based upon past experience, I won't hold my breath but your report is encouraging.

Re Trump - Usually I avoid political discourse on this forum, however, in respect of Trump/America trying to buy-up our NHS, all I will add to this is, if they do try, I have no doubt they will be ably assisted from some ministers/politicians from within to achieve this goal. - It's only people first at election time. Other than then, it's direct the wealth of the nation into ones own pocket time.

The irony that it's President Trump, little loved south of the US border, who is pressing for more rights for Mexican workers is not lost on Bensusan.

"The only thing we can thank President Trump for is the fact that he's making us have a national debate over our economic model," she says.

For labour experts, despite the US government's ulterior motives, it still provides hope that the NAFTA renegotiations might be the spur needed to act against "ghost" unions and get a better deal for the country's workforce.

https://www.aljazeera.com/indepth/features/2017/08/nafta-ghost-unions-exploit-workers-mexico-170831110315826.html

Sadly we have to put up with Trump in the UK for the next three days, Trump is poking hos nose into UK affairs in oder to serve his own greedy interests, he is promoting a complete idiot "Boris" as being the best choice for out prime minister . Trump also wants the UK to leave the EU without a deal so that US companies can buy our NHS on the cheap.and sell the UK chlorinated chicken and other inferior US farm products that do not have to comply with the same stringent animal welfare and food hygiene as those produced in Europe.
Triump claims that everything the US produces is the best, shame about the Boeing aircraft that keep crashing killing passengers because of faulty software!

I think what Trump has done with Mexico is brilliant? US is Mexicos biggest trading partner by a country mile. Save money on not building the fence? Or use the extra tarriff income to fund building the fence.

More to it than meets the eyes of the mina stream media wiht their plethora of agenda's

Good SP and Gold price rise and a nice resolution of the law in Egypt. Should fly now

best
the gnome

Well done Cowichan!

Excellent news, it seems to confirm what the 'Gnome" was told at the conference he attended that the proposed changes would take place quickly!

Nice find Cowichan. Should be significant. Gla

Europe lower premarket as trade war continues

European stocks traded lower in premarket on Friday amid continuing worries over Brexit and the trade war between China and the United States. An expert warned that the trade dispute between the two countries could impact the global macro outlook and send the world economy into a recession within nine months. In other news, US President Donald Trump was due to arrive in England later in the day to begin an official three-day state visit.

The DAX fell 0.69% while the CAC 40 decreased 0.76% at 7:36 am CET. In the United Kingdom, the FTSE 100 was down 0.43% at the same time.

The euro and pound were both flat against the greenback to go for $1.11752 and $1.26390 respectively at 7:58 am CET.

Breaking the News / DZ

Gold trades above $1,310, highest since March

Spot gold traded above $1,310 per ounce, highest since March as global trade worries pushed investors to turn to gold and other assets.

Gold climbed 0.37% to go for $1,310.67 per ounce at 5:01 am ET, while silver jumped 0.37% to sell for $14.64 per ounce at 5:07 am ET. Palladium went up 1.42% to go for $1,347.34 per ounce at 5:07 am ET. Platinum gained 1.27% to change hands for $804.22 per ounce at 5:08 am ET.

Breaking the News / KP

+ 0-32% + $4.26 $1310.10

High of the day $1310.70

June 2, 2019

(MENAFN - Daily News Egypt) The specialised committees at the parliament have initially approved the amendments of the New Mineral Wealth Act No 198 for 2014 which included eliminating the issuance of agreements to look for gold for companies in order to facilitate measures and encourage investors to look for gold in areas of their choice.

A source at the petroleum sector told Daily News Egypt that specialised committees approved in sessions held mid-last month to amend the law.

*He added that it is planned to hold the next meeting mid-month, to explain the most important amendments to the parliament before the adoption of the law and issuing it before the end of the parliamentary session.

The source pointed out that the amendments made to the draft law on mineral wealth were prepared by the consensus of all stakeholders in the sector of investors and the government.

He pointed out that a number of governors in their governorates have been consulted about the amendments, in addition to the Federation of Industries and the Chamber of Building Materials industries.

The source stressed that the amendments were made to a number of acts in order to suit and match the state's trend at the current level so as to specify clear controls to utilise mines, quarries, and navigators while avoiding any negative effects of the current legislations, in line with the current social, economic, and political conditions.

The source said that some of the most prominent amendments to the law include establishing a new specialised body that handles issuing licenses for mines and quarries without being limited to specific areas after the specific area was about 16 sqkm.

Also, the licences' period was extended to several terms instead of one and can be eliminated if works were halted for six continuous months after the law stipulated previously that halting would be only for a period of three months.

The amendments to the third article include licenses being valid for mines, quarries, and navigators if they were issued before the law was in force. The controls in the law related to the value of annual rent, royalty, and licensing fees for research and exportation also remain in force.

The source pointed out that the amendments have stressed the specialty of the Egyptian Mineral Resources Authority (EMRA) to conduct the research and exploration operations of mineral wealth as well as its right to handle the technical supervision of the operations of utilising mines, quarries, and navigators.

The law comes within the framework of the state's attempt to achieve the development plans and keep up with global updates in the field of mining, as well as restructuring and developing the sector of mineral wealth, as the goals of the law are focused on optimal utilisation of mineral wealth.

https://menafn.com/1098599967/Egypt-Parliament-initially-approves-amendments-of-mineral-wealth-act

Signed petition and passed on !

https://petition.parliament.uk/petitions/242399

Note 4 September 2019 deadline.

Although I know CEY is not in AIM, thought you might be interested in this (for any other share holdings you may have)

https://uk.finance.yahoo.com/news/top-shares-june-2019-050117515.html

The end will be in sight when the 'Regulators' and 'Directors' are in the criminal-dock, alongside the minnows who have to take the hit. - In this regard, don't hold your breath. - Any slap on the wrist that may come their way will be in the form of a fine and not a jail-sentence.

Great to see the PM of Malaysia soming out again about the ridculous rigging and spoofing int he trading sector...Malaysian Prime Minister Mahathir Mohamad on Thursday mooted the idea of a common trading currency for East Asia that would be pegged to gold, describing the existing currency trading in the region as manipulative.
https://www.reuters.com/article/us-malaysia-currency/malaysias-mahathir-proposes-common-east-asia-currency-pegged-to-gold-idUSKCN1T00FX

and the song remains the same in the west, where we simply cannot learn from history....last week the European Commission announced that it’s fining five big banks for rigging the international foreign exchange (forex) market. As many as 11 world currencies—including the euro, British pound, Japanese yen and U.S. dollar—were allegedly manipulated by traders working at Barclays, the Royal Bank of Scotland (RBS), Citigroup, JPMorgan and Japan’s MUFG Bank.

...a 36-year-old Brooklyn resident, pleaded guilty in October 2018 to fraudulently manipulating the precious metals markets from 2009 to 2015. He admitted working with “unnamed co-conspirators” at his former employer, J. P. Morgan, the Justice Department made public Nov. 6, when it unsealed the case in U.S. District Court in Connecticut....and then what happened....

....gold price suppression (“fixing,” “rigging,” “manipulating” or however else you want to think about it) is not just a conspiracy theory. It’s a well-documented phenomenon, with real actors and real ramifications. In 2014, Barclays was fined nearly $44 million for failing to prevent traders from manipulating the London gold “fix.” Late last year, a former JPMorgan trader pleaded guilty to manipulating the U.S. metals markets. Remember the gold futures “flash crash” of 2014?

makes yu wonder?

the gold gnome

https://www.bullionvault.com/gold-price-chart.do

DOW crashes again....bodies well for gold next week

I'm hauling out an old Elton John LP for a spin - you know - Madman Across the Water ...

Gold reaches $1,300 as US announces Mexico tariffs

Spot gold traded above $1,300 per ounce on Friday, reaching levels last seen in April, as trade tension fears loomed in the markets following the decision of United States President Donald Trump to announce additional tariffs on Mexico from June 10 as a response to illegal immigration from the country. Investors also paid close attention to economic data after Treasuries started trading higher on Thursday on slower inflation reports and the yield curve between the three-month Treasuries and the 10-year bonds remained inverted.

Meanwhile, Wall Street started the day in the red, with all major indexes falling more than 1%.

Gold jumped 1.20% to $1,303.85 per ounce at 10:42 am ET. The yellow metal is 1.57% up over the past month. Silver prices also increased on Friday as it rose 1.12% to change hands at $14.68 per ounce at 10:44 am ET. Platinum was 0.10% in the green, going for $796.98 per ounce at 10:43 am ET, but palladium dropped 1.89% to $1,342.61 per ounce at the same time.

Breaking the News / VP