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LONDON, Jan. 12, 2022 /CNW/
Asked to identify the top trends in the M&A market in 2022, responding CEOs said that they expect :
- an increase in hostile and competitive bidding (72%)
- private equity to be a major acquirer (70%)
- an increase in cross-sector (68%)
- and cross-border (65%) dealmaking
- as well as more megadeals (56%)
As the world enters a new phase in the global COVID-19 pandemic, the majority of CEOs are ready to accelerate plans for investment and mergers and acquisitions (M&A) in their pursuit for growth. These findings come from the inaugural EY 2022 CEO Outlook Survey, which recorded the views of more than 2,000 CEOs across the globe on their prospects, challenges and opportunities.
https://www.newswire.ca/news-releases/over-half-of-ceos-to-step-up-investment-and-m-amp-a-in-2022-but-headwinds-remain-878818743.html
Hi Rebess,
I am having trouble verifying that. Can you provide a link clarifying the position?
Jan 7 , 2022
#DPG MINES AND CAREERS
"In recent years, the mining industry in particular has contributed to improving the resilience of our country in the face of the various crises it has experienced." So my government is committed to increasing its share in GDP by 20% on average per year for the period 2021-2025 We are also aware that this cannot be done without greater efficiency in securing mining sites. Regarding the plowing, my government will work to frame and modernize the artisan exploitation of gold in order to preserve the environment, protect the health of the population, and to be able to better control the income generated by the small ones xploitation. "
Lassina ZERBO
https://www.facebook.com/energieminescarrieresbf/?ref=page_internal
https://twitter.com/sinazerbo?lang=en
(He's the newly appointed PM - with great credentials )
Also, Razor - I miss those gold shipment posts too!
I always enjoyed reading about the monthly gold shipments that were flown to Canada from Cairo airport but out of the blue the media stopped reporting the details.
I believe this is the last one reported, dated January 2nd 2018.
https://www.egypttoday.com/Article/1/39083/405-Kg-of-pure-gold-arrive-at-Cairo-Airport-Monday
Building a small gold refinery is all of the rage ..
https://www.reuters.com/article/us-gold-africa-refineries-insight-idCAKBN1ZE0YG
pluse there are runours of a few small ones. Even a rumour that the former Presdient of Burkina Faso, family had their own which processed the small scale and artsinal gold from the country. These people number about 2 million peple, and may produce up to x00k ozs gold per year, all illegally. The refinery does not exist now, due to the coup d'tat.
https://voxdev.org/topic/firms-trade/gold-mining-burkina-faso-who-wins
best
the gnome
Thank you Don.
That info was posted last Wedneday twice by both myself and Mr Tibbles and was pubished on Enterprise Egypt befre that.
Te new Board members were also published on RNS s so were hardly secret.
So to me ,to call it a conspiracy , does not wash yet with myself/
If I get egg on my face,so be it.
Sleep well.
Oh I forgot your time difference, have a good afternoon.
Hi Kenj
The Net Stable Funding Requirement (NSFR) , the part that affects the value of paper-gold contracts held, comes into effect from Jan 1st. 2022. - Gold contracts held on books that are unallocated gold must have 85% of their value covered by 100% liquidity assets. That is to say assets that can immediately be used for settlement, e.g. cash or proven allocated-gold contracts. - This is the significance of the new NSFR ruling and marks the beginning of the end of paper-gold as an asset-class. - This is what Andrew Maguire is referring to and it has started this month. - Once bedded-in it will change the way gold is priced and move the fulcrum away from Comex futures and more towards physical-deliverable-gold as the spot-price setter.
Egypt intends to establish its first gold refinery with costs reaching $100 million as a part of its strategy to develop its mining sector, Minister of Petroleum and Mineral Resources Tarek El Molla told Al-Sharq on the sidelines of the Future Minerals Forum held in Saudi Arabia.
The minister declared that this project has not been started yet, but they are structuring the company which will be responsible for this refinery. This refinery will serve the region as a whole.
El Molla clarified that the sector’s development projects will be funded by the government, private sector, and international development organizations. He added that Egypt is producing around 15 tons of gold annually from Sukari Gold mine and still has great potentials in the Red Sea and South Egypt.
https://www.linkedin.com/posts/egypt-oil-%26-gas_egypt-to-establish-its-first-gold-refinery-activity-6888508548419067904-zae-
------------------------------------>>>>
Egypt must be very confident a large number of African/MENA mining companies will utilize their refinery to spend that much to build it.
"15:05 Basel III now goes fully into effect!"
Mrtibbles,
If that is what Andrew Maquire is saying then he is wrong.
Full implementation of Basel 3 has been put back a year to 1 Jan 2023, due to Covid delays.
https://www.fsb.org/work-of-the-fsb/implementation-monitoring/monitoring-of-priority-areas/basel-iii/
Also the LBMA are still trying to water down the percentage of real gold they must hold to be classed as a Tier One asset. The game goes on!
Agree with Mr Tibbs - The admission by the BOD and NED's that they were unaware of what was going on at Sukari, is of itself a shocking admission of 'Gross Negligence' on their part and I mean 'SHOCKING' - They receive 'Golden hellos' - lucrative salaries - freebies, bonuses and free-shares in between and then Golden-goodbye's, yet, they don't know what's going on. - Kinnell!
Very fair comments Tony,
We had the choice in the past to believe either the CEO of the company that we had invested in or a reputable and very experienced industry independent annalist , unfortunately our CEO at the time wasn't being truthful.
You made the right choice , although as you refer to at least now Kees is in complete agreement with the changes that are now taking place .
Hi Miziolgit,
Also very relevant points, always a balancing act at times like this, as you point out, its important not to make the company appear weaker to the market which may well assist any would be take over or potential predator!
Hi Bob&Liz
Also very fair points and certainly very relevant observations to the debate , which I agree with.
Tibbs
Hi Cowichan,
I appreciate your theory is primarily conjecture of a Barrick take over is and open to debate, although after the recent admissions or pretty startling excuses that the BOD & NED's in Jersey failed to realise that the Sukari management were guilty of sharp practice (high grading and failing to clear away years worth of waste)to enable continued spoofing of the market and share holders that Sukari was capable of what is now proven to have been unachievable guidance, then indeed any long term share holders concerns or suspicions given present circumstances are justifiable, or at the very least understandable.
As Rebess and other have pointed out, as yet all we have is promises that things are changing, the proof will be in the pudding (IE a respectable rise in share price)
Long term holders have given the management the benefit of the doubt on many occasions after various promises predictions have failed to materialise , I will not be alone in recalling what Josef stated in the 2014 Jersey presentation and his predictions of 560,000-600,000 oz as being the norm to a number of share holders during the after presentation chat session, it seems now that Josef had our leg's up!
I still recall Pardey lying on a 2018 Q&A session stating he was unaware of the 2015 & 2018 K.Dekker reports ,this despite him having tried to deny the conclusions to the media and complaining to the editor of Seeking Alpha!
in 2018 Pardey failed to manage Barinco underground contractor properly, or at least failed to ensure that the one and only running on limits,but critically important LHDR had essential spare parts available which meant that the impact of low grade open pit ore could nor be mitigated by supplementing higher grade underground ore, so instead share holders were given lame excuses. promises that lesson would be learned and kick in the crotch for the share price!
Fast forward to 2020 the full scale of the sharp practice, corner cutting and spoofing by Pardey and his Compadre's was exposed by a crack in the wall delivering another 50% kick in the crotch to share price!
So although share holders want to have faith in the new regime, its certainly no time for complacency about anything!
Barrick has Centamin surrounded:
It's a bit like the Russians amassing troops on the Ukrainian border. - Will they or won't they? - We should soon know if there is a cunning-deceitful-plan in play or not. - Wednesday's results will be interesting and may provide a clue. - Trust is a big issue here. - Frankly, after my own experience with Centamin, I don't trust anybody. - Many are already praising Horgan and I hope their faith is rewarded. - For my part, I'll bide my time and award medals after the battle.
Mizolglit
I hardly think I would suggest the whole Centamin board resign if (like I said in my post) the board need not be aware of Barrick's purpose in having former employees apply for jobs at Sukari in positions of influence/power.
As far as institutional firms being aware - I wouldn't know except to say I do converse with individuals working at several smaller firms out of London and Toronto - they read my LinkedIn posts with interest.
As far as informing Centamin's board - each one has a LinkedIn account and I tag each one at the bottom of the LinkedIn post - so yes, they all see my post. Is that formal or official ? Not really. But it is PUBLIC - and in my opinion FAR better than an email sent to Centamin's IR dept. which does nothing at all.
I notice Conjecture .
You did not anser my questons, did you .
Then to say An aquisition is not inevtable,
SO once again ,what do you suggest, ,
Have a good evening.
I appreciate my theory is primarily conjecture and open to debate.
I suppose if we hadn't experienced the Endeavour bid (was it even a bid?) and Pardey's hasty 'retirement' I'd not be as paranoid as Tornado puts it. But like you Tornado I still believe in the potential of Egypt, of Centamin's concessions and of Sukari. All I want is the promised 'value' creation we've been waiting over a decade to achieve - not for another company to steal it away. Think about it - we long term shareholders are now shouldering the cost of a massive waste clearing project. Nice for Barrick to swoop in midway through and not spend a dime!
To Mizoglit - I don't know if Centamin's board would even need be aware for such a scheme to be pulled off my Barrick/Mr Bristow. Given the aforementioned Kees warning and our boards' apparent indifference just how much attention does the BOD give to running the company?
To Bobliz - Same as what I said to Mizoglit. Mr Horgan need not be aware of Barrick's scheme. I'm sure it is seen as something of a coup when former Barrick employees apply for jobs at Sukari. Their talent would certainly be welcomed by any company - and all the more by little ol' Centamin!
Look - here is what we know for certain - Mr Bristow/Barrick wants (and needs!) to acquire another big tier 1 asset. Now Mr Bristow is publicly on the record calling Sukari just that. Take that news - add it to the four Barrick hires in the last 12 months and what other conclusion can a shareholder come up with?
That is not to say an acquisition is inevitable - only getting more and more likely. But long term Centamin shareholders like me will gain very little (if anything) should Mr Bristow succeed while we are at such a low market cap. That is why I will continue to question Centamin (through social media) and seek to find out if there are plans in place to welcome a Barrick bid with open arms.
Already my LinkedIn post has several Centamin employees engaging - as well as 15 executives
- some from Barrick, Centamin, Barminco, Nordgold and others. One thing I know - it's harder for a blindside to occur when somebody shines a light on a situation well before it happens.
https://www.linkedin.com/posts/don-lawson-98619370_rgn-magazine-on-twitter-activity-6887841878079864832-A_UA
I feel some people are playing that paranoia card here with what Barrick may do or not do. EMRA, the Egyptian Government, Barrick staff and Centamin are not stupid. The value failure on Centamin was inherited and Kees warned everybody here of the problem way before it became known. I listened to him and sold and may have missed the peak in price, but have always gained on my Centamin investment and avoided the huge drop from 203p to 119p on this share at least. I think the company is on the right track. Centamin is an opportunity to create value and the present team are working on it and if they succeed it looks great on their CV to leave Centamin and go and run Barrick (Eric Bristow will retire in a few years or at least go and run a consultancy). Kees according to Mr Tibbles is more positive on Centamin. That is good enough for me. Centamin at least are giving a vision and a story. Without those the motivation to invest is zero. We have something we can choose to believe in or not. The believers buy shares and those who don't go short.
All the best for the 19th of January. I think we will go up from our closing price. Tony
Hi Cowichan
A very succinct case for a Barrick endeavour to achieve CEY on the cheap. However although external forces apart Hogan is a wealthy man in his own right and unlike Pardey does not need a brown envelope to do the bidding of others. have a look at his C.V history to understand his rejection of pressure to float n a desire to succeed at Toro. My belief is that his driving force is to expand his ego and professional standing in turning round a downside company with mega upside potential. A hero in the making. With such a reputation and ego at stake does he wish to be remeberes as a pawn in Barricks portfolio. I think not. Perhaps wishful thinking but as long as Blackrock and the Institutions also have faith in the upside then he will have their continuing support and where the real power lies. Not with Barrick. The FED may run but they cannot hide against the inflation surge and when rates dont rise against the inflation bubble the explosion (having lived through inflation at 20+%) gets exponentially greater. Servicing Government debt when rates rise by say 2% will be crippling Where will the smart money go. Crypto, I dont think so, and Governments will be swift to own the source or tax the returns +++++ big time.
Just my personal thoughts and how I wish the majority does not transpire as the resulting recession and unemployment will be dire to a lot of ordinary working people.
Kindest regards to you and this wonderful board.
Bob
I wonder if the institutional share hoders are aware Cowichan?
Have you informed them?
Perhaps they dont know.
If you think the whoie Board should resign that may drive the price down even further.
What do you suggest?
A decent bid would be nice
I posted the following* on LinkedIn. https://www.linkedin.com/posts/don-lawson-98619370_rgn-magazine-on-twitter-activity-6887841878079864832-A_UA
I'll just add this:
a) the first Barrick hire was Craig Barker* in October 2020 - the SAME month Centamin advised shareholders 'pit wall movement' was detected & production would be impacted. Craig's official role: 'oversee group resources and mine geology.'
b)two months later a mega million dollar Capital Drilling contract to move waste rock was announced.
a + b = CEY market cap collapse
------------------------------------->>>>
* How Barrick Gold Corporation Can (Will?) Takeover Centamin PLC For A 'Steal'
1) Fabricate a 'pit wall' incident that takes down the share price by half
2) Formulate a lengthy & expensive 'fix-it' project to span several years
3) Concurrently 'install' key #Barrick employees in strategic leadership roles at flagship mine #Sukari
4) Talk up the asset as 'world class'
5) Make an offer Centamin's board would 'look foolish' to refuse
Playing a long game is how Bristow makes the big deals. Unfortunately for #Centamin's long term shareholders - they might just get played. #gold #Egypt #mining #M&A
Four Key Hires At Sukari In The Last 12 Months (formerly Barrick employees)
1) Pierre Kanku Mineral Resource Manager ( formerly of Randgold/Barrick from Sept 2011 - March 2021 )
2) Gustav Du Toit Sukari General Manager ( formerly of Randgold/Barrick from June 2016 - November 2021 )
3) Rolly Wasonga Chief Resources Geologist ( formerly of Randgold/Barrick from Feb 2012 - Feb 2021 )
4) Craig Barker** Group Resource Manager ( formerly Barrick )
James Rutherford Martin Horgan Ross Jerrard Sally Eyre Mark Bankes Marna Cloete Catharine Farrow Hennie Faul BNN Bloomberg Financial Conduct Authority Toronto Stock Exchange LSEG (London Stock Exchange Group) Ontario Securities Commission MINING.com
https://lnkd.in/gtTmvCKQ
Hard to believe that this case has been going on for 9 years , I bloody remember the share price drop at the time it raised its head. Whatever happened to the final few weeks after a new law had been introduced and a report recommendation was being written by elders/law lords for incorporating the law. This scenario truly reflects the unstable environment of Egypt and why owning 1 mine is precarious to the share price.
We need gold to help this share price out because the CEY PR dept is non existant and mr Horgan may be the right guy but his refusal to buy a significant chunk of shares is baffling
If the healthy dividend wasn’t being paid I would have sacked this share off by now and saved myself tonnes of frustration but as I say to my daughter who is on the promise of a £1k when we hit £2 again , you gotta be a belieber
Please note The opinions expressed in this video are of Andrew Maguire and any guest.
Ep.58 Live from the Vault: Gold and Silver Price Outlook 2022
https://www.youtube.com/watch?v=Ua-eP-zz5W0