Centamin PLC Share Chat (CEY)

Aberdeen have increased their holding from 4.83% to 5.07%.
Have a good day.

I call upon my erudite colleagues to translate what todays RNS is revealing. - For the life of me I can't make it out. - So, explanations in simple English as though I were a six-year old would be appreciated. - Don't have a go if you don't understand, that will only create more confusion. @-)

According to S&P Global Market Intelligence data, the deal value of Barrick-Randgold merger represented 47% of the US$24.89 billion total value of gold and base metals deals in 2018. The price buyers paid per ounce of gold jumped 178% year over year to US$88.85/oz, an eight-year high and above the 10-year average of US$64.20/oz, as gold prices continued rising in 2018.

Applying this in ground value to Centamin
Ounces Value
M and Ind 15,200,000.00 $1,352,800,000.00
Inferred 2,870,000.00 $255,430,000.00

Grand Total $1,608,230,000.00

Adding $ for plant and equipment, and exploration potential, by as much 25-30%.

At a Mkt Cap of $1.2b, CEY appears v undervalued ....

So as a thumb suck, GBP 1.30 coming up?

Europe trades lower premarket, Brexit in focus

Markets in Europe traded in the red during the premarket trade on Thursday as investors focused on economic data releases due for release later today. The United Kingdom's divorce from the European Union also remained in the spotlight as members of the British Parliament debated yesterday on Brexit, with Labour looking to stop a no-deal scenario with motion in Parliament even before the Tories pick their new leader who will take over in Downing Street from Theresa May.

In Germany, the DAX declined 0.21%, the French CAC 40 lost 0.22% while London's FTSE 100 fell 0.25% at 7:54 am CET.

The euro added 0.10% against the US dollar to go for 1.1299 at 7:56 am CET.

Breaking the News / VK

+ 0.21% + $2.78 $1336.34

High of the day $1337.80

Paul Tudor speaking.....President Donald Trump's tariff battle with China boosts the chances of a Federal Reserve reduction, setting the stage for the strategy. The trade is part of a standard playbook he calls "first rate cut 101". That includes being long rates, gold and "at some point short the dollar", Jones said on Tuesday in an interview.

Gold is his favourite pick in the next 12 to 24 months. If it hits $US1400, it will quickly move to $US1700, he said. It now trades at about $US1334.

Jones said the Fed is "probably on the cusp of the first rate cut after a long hiking cycle".

MORE to come....thanks to crazy bullying TRUMP!!!

Many of the problems in the world are caused by US foreign policy because it wants to continue to sell arms and get other countries hooked on the petro dollar.
Iran has made no threats in fact the government is comparatively moderate when compared to other governments in the region.
Iran was supplying other countries the EU and UK with cheaper gas and oil than the US could , Trump wants to get other countries dependant upon US shale gas, an industry that causes considerable damage to the environment and has long term implications for the environment.
The US is no friend to the rest of the world ias t manipulates the rest of the worlds currencies and trade markets by keeping the reserve currency dollar artificially strong.
Perhaps if Trumps governments Foreign policy didn't prop up corrupt dictatorial governments and promote war, unrest and instability in other countries there wouldn't be so many poor people trying to seek sanctuary in the US.
Trump claims that global warming is fake news, this despite the fact that world are already suffering the consequences and whilst most other countries including China are working towards cutting environmental pollution Trump is reopening filthy coal power stations and coal mines just to keep the thick and stupid red
neck voters happy.
Trump is a bully who misuses his power of office, he is certainly no devil that I would care to know thank you.

mrtibbles - better the devil you know. As bad as Trumps rhetoric and political acumen is, he will be voted out at some point. And we need US influence and support when it comes to the global stage in facing down perceived threats.

Sadly even our prime minister makes false claims about the true state of the UK economy!
https://fullfact.org/news/theresa-mays-resignation-speech-factchecked/

Shame that some of the candidates for our next prime minister are prepared to do deals with Trump, how on earth can they hope to be treated by such an odious obnoxious person?

United States President Donald Trump warned additional tariffs on Chinese goods would go into effect if his Chinese counterpart Xi Jinping doesn't attend the G20 summit. "Tariffs are a great negotiating tool, great revenue producers and, most importantly, a powerful way to get companies to come to the USA and to get companies that have left us for other lands to come back home," he tweeted on Tuesday

Trump has no idea of diplomacy or how to behave, what a complete and utter disgrace to have this arrogant sexist racist as an American president!

Trumps' supporters have been making false claims about the support Trump has in the UK
https://fullfact.org/online/old-videos-pro-anti-trump-protests/

Gold prices rise amid new trade developments

Precious metals traded mostly in the green on Wednesday with gold prices jumping after hitting a one-week low during the previous session.

Earlier this week, United States President Donald Trump warned additional tariffs on Chinese goods would go into effect if his Chinese counterpart Xi Jinping doesn't attend the G20 summit. "Tariffs are a great negotiating tool, great revenue producers and, most importantly, a powerful way to get companies to come to the USA and to get companies that have left us for other lands to come back home," he tweeted on Tuesday

Gold jumped 0.75% to sell for $1,336.57 per ounce at 8:22 am CET and silver climbed 0.70% to go for $14.85 per ounce at the same time. Meanwhile, palladium declined 0.07% to change hands for $1,392.48 per ounce at 8:23 am CET, while platinum advanced 0.57% to go for $819.67 per ounce at the same time.

Breaking the News / JC

Europe trades lower premarket

European equities traded in the red in premarket on Wednesday amid ongoing trade tensions. Earlier, United States President Donald Trump said that China wants to make a trade deal, but that he will not accept any deal that's bad for the US. "Tariffs are a great negotiating tool," he wrote on Twitter.

Markets in Asia traded lower as well after official Chinese inflation data revealed consumer prices were up 2.7% in May year over year.

The DAX was down 0.50%, the CAC 40 lost 0.45%, while the FTSE 100 fell 0.38%. The euro gained 0.09% against the dollar at 8:03 am CET, buying 1.1338, while the pound traded flat versus the greenback at the same time, going for 1.2723.

Breaking the News / JC

+ 0.49% + $6.54 $1333.21

High of the day $1333.81

Definitely worth a listen to this guy, one fo the useful economists!. > Gary Shilling says the U.S. entered a recession in the second quarter this year. He gave a 66% probability lats in Jan 2019 ....He explains why he expects it to be a mild recession and outlines the potential crises he sees on the horizon

https://www.thinkadvisor.com/2019/01/02/gary-shilling-sees-two-thirds-chance-of-recession/?slreturn=20190511194805

https://www.financialsense.com/podcast/19156/gary-shilling-us-has-entered-recession

his track record...looks something like this

In the spring of 1969, he was one of only a few analysts who correctly envisioned the recession at year's end, and was almost a lone voice in 1973, when he forecast a monolithic international inventory-building fling, followed by the first significant recession since the Great Depression.

In the late 1970s, while most analysts presumed that waxing inflation would go on unabated, Shilling was the first to predict that America's infirm political climate would impede it. He also foresaw various dangerous economic readjustment problems and a shift in investment strategy from a preference for tangible assets to an increased emphasis on stocks and bonds.

In June 2011, he predicted a 20% drop in housing in 2012 with a resulting global recession. In October 2012 he predicted a global recession in 2013.

In August 2015, he predicted that the price of oil "is headed for $10 to $20 per barrel" (it was $43/barrel at the time) due to higher productivity through fracking and OPEC not limiting production.

IF THE EXPANSION IS ON THE SAME LEASE, AND TH EASE IS STILL CURRENT, THE OLD LAW WILL STILL APPLY, UNLESS CENTAMIN WANTED TO CHANGE THIS, AND THEN A CHANGE MIGHT BE MADE TO COMPLY WITH ANY NEW LEGISLATURE. WORKS LIKE THIS EVERYWHERE I HAVE BEEN.

Yes indeed a big thank you Cowicahan for this news!
Considering that "Al Fakerani" case claimed that the terms of the present Sukari concession agreement weren't fair to the Egyptian people when it is compared to these new terms the present agreement seems to be more than fair towards the Egypt!

The way I read the law,was ,current agreements will stand until renewal of licence.
Which means expansion from within the 160 km square area will not change.
New exploration outside that area means new terms..
That is unless they give up the current disputed area and are allowed to re-license under the the new terms.
IMHO.

I think some of the info dribbling out to the media is partly stone quarry related.

That said I would expect with all the professional consultations, and input from the gold mining players (namely Centamin!) we'll get away from the current profit share scheme. Doesn't that sound good on our frequently boxed ears?!

The real trick or treat will be what becomes of Centamin's current arrangement. Will an expansion rewrite the agreement completely? What would that do to the share price?

We're somewhere we've never been before — POSSIBLY on the cusp of good news. I've got a bottle of champagne ready just in case. ;-)

Than you Cowichan for your excellent information. I'm sure I speak for many in expressing my gratitude.

The 5% - 20% payments based upon annual-production with an additional 6% to home governorate is an interesting one. - I though payments linked to productivity had been knocked on the head, or am I misinterpreting?

LEGISLATION WATCH- Mineral Resources Act amendments expected to receive House sign-off before the summer recess: The House of Representatives is expected to give its final approval on the amendments to the Mineral Resources Act before it goes on recess in July, an Oil Ministry source told Al Shorouk on Monday. The amendments received committee-level approval last week.

*Expect tenders to be issued soon after the law is passed. The source revealed that the ministry is planning to issue new mining tenders some time this year once the law is approved.

The ministry source spilled the beans on other amendments:

1) There will be separate contracts and agreements for exploration and extraction.

2) Companies will have to pay a minimum royalty of 5% of annual production, with a 20% cap being set.

3) Mining firms will have to pay 6% of a mine’s annual production to the home governorate.

4) Governorates can recommend amending this “rent” but a final say can only come from the prime minister. Under current legislation, governorates had the power to dictate the payout every four years.

https://enterprise.press/#tldr-story-07

Cairo: Centennium Egypt spent about $ 100 million to develop the sugar mine in 2018, according to Shadi Al Rajhi, director of the company's internal audit department.

Al-Rajhi said in statements to «Al-Mal» that what was spent last year raises the company's investments in the mine to 1.3 billion dollars, equivalent to about 23 billion pounds, since 2010.
The company began operating in Egypt in 2010, despite the signing of the production agreement in the mid-nineties of the last century by a law issued by the President of the Republic.

Al Rajhi pointed out that the company will not inject any new investments during 2019, explaining that it has broken down about 17 million tons of rock during the last quarter of 2018.

In 2018, the production of pentamine dropped to 472.
4 ounces of gold in its sugar mine in Egypt over the course of the year, compared to 540 thousand in 2017.

Al Rajhi explained that the company is currently developing a strategy for the fifth and sixth stages of mine development, which will start implementation next year, pointing out that the total cost was not monitored for them.
He revealed that the total production of the company from the sugar mine amounted to about 117 tons of gold by the end of 2018, and plans to increase in the coming years.

He pointed out that the full shipments of sugar project gold are exported to Canada for purification at the laboratories of the metal, and sell them at international prices.

The sugar reserves are estimated at 15.5 million ounces of gold, making it one of the largest gold mines in the world.
Al-Mal said last week that Sentin-Egypt gold mines were targeting between 540 and 550,000 ounces in 2019, an increase of 80,000 from 2018.

Exports of sugar mine represent about 2% of Egypt's total exports, according to official data from Sentinam. Two Egyptian gold companies are currently operating, namely the Australian Pharaonic Australian and the Makhzulding,
.

European shares trade mixed premarket

Shares on the Euronext Paris stock exchange traded in the red on Tuesday while Frankfurt and London markets posted gains in premarket trading, as investors digest comments from United States President Donald Trump made in an interview on Monday. Trump criticized the European Union's treatment of large American tech companies and billions of dollars of fines that have been imposed on some of them, noting that the US should be doing the same. He also praised trade tariffs as a policy instrument and warned that more duties on Chinese goods would be imposed unless China's President Xi Jinping attends the G20 summit later in June.

Investor confidence data from Sentix is due for release later in the day, as well as the International Labour Organization's unemployment figures for the United Kingdom.

The DAX was up by 0.65% at 7:43 am CET, as the FTSE 100 added 0.18%. The CAC 40 dipped 0.08% at the same time.

Both the euro and the pound traded flat against the dollar, buying $1.13144 and $1.26799 at 7:45 am CET, respectively.

Breaking the News / NI

+ 0.07% + $0.97 $1329.04

High of the day $1329.94

Note: article #13 should be useful to negate that licence awarded to a phony English Lord !

------------------------------------------------------------>

Article 31 of the draft law states that "the competent authority may, after the approval of the board of directors of the Authority for the mines, issue a decision to cancel the research or exploitation license for mines or quarries, as the case may be, if any of the following conditions exist:

1: Non-payment of rental value or royalty within sixty days from the date of maturity

2- Violation of any provision of this law or its executive regulations

3: Violation of any of the conditions or provisions of the license

4: Issuing an enforceable judgment by declaring the bankruptcy of the licensee

5: Liquidation, dissolution or expiration of the licensed company

6- The business shall not start the license for a maximum period of one month from the date of receiving the area for reasons due to the licensee or stop without the written permission of the Authority or the competent authority, as the case may be for a period of 6 consecutive months.

7: Waiver of the license to third parties or sublease without the written consent of the Authority or the competent authority, as the case may be.

8: If the licensee to create the extracts on land outside the boundaries of the area licensed without obtaining a lease

9: If the licensee is proven to extract materials from outside the licensed area

10: If the licensee dies and the license is valid and the heirs or one of them did not ask for the solution within 90 days from the date of death or requested solutions.

11: If the licensee violates the conditions of operation and does not remove the violation within sixty days from the date of his warning by the Authority or the competent authority, as the case may be

12: If the pollution of the licensed area is proved for a reason due to the licensee and did not treat it despite the warning thereof from the body or the competent authority, as the case may be

13: If the licensee submits false data or documents proven to be falsified by the licensee or the competent authority, and informs the Authority of the cancellation of the research and exploitation license for the quarries and ship

https://www.youm7.com/story/2019/6/7/%D8%AA%D8%B9%D8%B1%D9%81-%D8%B9%D9%84%D9%89-13-%D8%AD%D8%A7%D9%84%D8%A9-%D8%AA%D8%AA%D8%B3%D8%A8%D8%A8-%D8%A5%D9%8A%D9%82%D8%A7%D9%81-%D8%AA%D8%B1%D8%AE%D9%8A%D8%B5-%D8%A7%D9%84%D9%85%D9%86%D8%A7%D8%AC%D9%85-%D9%81%D9%89-%D8%AA%D8%B9%D8%AF%D9%8A%D9%84/4275528