Petro Matad CEO Mike Buck confirmed that he believes the Exploitation Licence for Block XX in Eastern Mongolia is likely to be awarded in Q2. Watch the full video here.
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So what do propose to do about it ,than whinge.
You have had ,not a good year along with Tibbs, with your crypto.
So off your twisted knickers ,put them on again.
We all make mistakes.
Portfolios values fluctuate with the insane market.
Or is it time to sell everything and invest in physical gold.
At least then you can buy food from the mafia pirate banksters.
Lol . The reallity, maybe.
Hi Tibbs - If the hint they gave in the recent investors presentation proves correct, then it is an impossibilty that even 490,000 can be reached. - Back-loading their forecast to the second-half of the year, gives them time to construct a strategy that allows the deceit to continue until it can't. - Q3 was/is the moment of truth and now they have sneakily dropped the hint. Yes an RNS will be winging our way with a reduced target/profit warning.
Quite so Rebess, so some task even to reach 490,000 oz?
Do they have something up their sleeve that we don't know about as yet or will it be another RNS that will warn of reduced output, I do hope its the former!
Also in the light of the present situation why were the directors awarded bonus shares recently?
Error: Apologies, Q4 will require a 40% uplift just to meet the minimum of 490,000 not the 22% I posted. Got my knickers in a twist confusing previous calculations. - So, 40% not 22%- well, nobody need respond becaus it's an impossibility. - Just like last-year, the Autumn put down, to cover the deliberate lies and deceit that they call their forecast and upon which millions of £'s worth of investors money has relied.
Q4 last year produced 137,600 oz, a 17% increase on the previous qtr., only to collapse by around 16% going into Q1 of 2019.
This time around Q4 will need a minimum of 22% increase to reach lower-end 490,000 and that assumes that Q3 is equal to Q2. Anything less, which is muted, then clearly the % required increases. - Any takers?
Q1 came in at 116,183oz - Q2 at 117,913oz - Total for H1 of 234,096 oz - However, only 224,129 oz were sold in the period due to timing of closing weekly gold-shipment. ??? - Ok let's see how that fits-into the financials next time around.
So, if Q3 is likely to be less than Q2, obviously it depends upon how much less. - But even if it's the same, bringing total production to around 350,000oz, this would leave a Q4 requirement of 140,000oz to reach the lowest figure in the forecast of 490,000oz .- Clearly, every oz below Q2 that Q3 comes in, adds to this figure. - Never mind the 500,000 oz that Dasut would like to see, does anybody think it's possible to reach 490,0000z? - There will be a new warning winging our way any time soon I fear. Guess what that will do?
Tibbs KD is right about many things but I don't really hold much store by any reports that are based on other reports and he lost credibility because his early predictions were somewhat premature.
What I like is to listen to people who walk the site and talk to people working on the project regarding questions that arise from site visits.
Guess my recent rants are borne out of the frustration of not getting the opportunity these days to visit sites and learn first hand the pros and cons for myself.
Personally I wouldn't be disappointed at closer to 500,000 ounces by year end as this gets back to earlier realistic predictions.
Sorry state of affairs really if after all this time and all we have been through that our investment in Centamin is now so dependant upon the one factor POG which is so open to corruption and market manipulation.
If you recall last year just after the guidance cut announcement in 2018 Alexander of Cey investor relations explained that although the production teams were at that time ahead of schedule in stripping through the low transitional grades, also it was the intention to deploy extra crews and resources to help speed up the process.
So was I being spun a line a that time or didn't they realise that the low grades were much more of a problem than they envisaged?
I am no mining expert, but I would have thought the equipment they have available today must be able to give them a pretty accurate idea of when they will hit the higher grades, but of course I accept may be naive in assuming this ?
Like many other long term holders I really want to believe that the management have learnt lessons and have my faith and trust in them restored to what it once was in the past, but I must admit that this recent announcement and the market reaction is most disappointing, after this the management really need to deliver some real results rather than more promises that turn into disappointments!
I appreciate that some don't like me mentioning the Kees Dekker reports of 2015 & 2018 and I would really like for his opinions and perditions to be proved to be inaccurate, but unfortunately after this last announcement I cant help thinking he does seem to have been quite accurate in his conclusions so far.
I look forward to some thought from those of you who are more experienced and better informed than I on these issues.
September 14 2019 09:37 PM
Executives headed to the Denver Gold Forum a year ago were hit with a startling bit of news as they stepped off their planes: A merger made public that afternoon was set to create the world’s biggest gold company.
Now, a year after Barrick Gold Corp agreed to buy Randgold Resources Ltd, and in the wake of a second huge megamerger, executives are once again travelling to the Denver meeting, which opens today. Only this time, the industry will be watching to see if mid-tier miners concerned about losing out to larger rivals are ready to jump into the M&A game....
article continues/ link
Will there be any big deals announced this year?
That is of course you are a trader and got your fingers burnt.
Get real .
Try another miner.
This bunch are far from perfect.
But who tells the complete truth.
Its no different than politics.
Investing is a theatre ,there are few if any opinions to be trusted.
Take the divi and buy premium bonds..
Or physical gold.
Yes, I agree the POG could be a straw to clutch. - But all it means is that Centamin continually negates a benefit that we should have had anyway. - It's just the perpetual continuam of 'Down a snake' syndrome.
Q3 was always going to be the 'Acid-test'. The Quarter that tested the veracity of the narrative contained in their forecast. Q3 will tell the truth more than any fine words or phrasing. - It's the Quarter that will provide the clue as to whether they really can increase productivity by as much as 22%, to meet the 45%/55% H1/H2 split. - If they can't, then it reveals the deceit contained within their forecast. - And deceit and misinformation are characteristics they have perfected. IMO
Of course Dasut. - Twas ever thus. Just like last year, a double good-hiding for every bit of negative news. - We thought the 'New-look Centamin' had learned from this and had tailored their new methodology of 'News dissemination' into avoiding this phenomona. - So far there has been total silence in between quarterlies. Not a whisper and then, 'Wham, take that'.
sorry no idea why I was stopped mid rant. should go on to say
So it is a double dip situation yet again. I am however not quite as pessimistic because surely the ounces drop can't be as great in percentage terms as the increase in GP, so maybe not making as much profit as could but still reckon financials should be OK?
Rebess I understand where you are coming from and I can't believe how ridiculous it is of so called senior managers to include a negative that will be repeated when they officially announce the 3rd quarter results so it is a double d
Wouldn't mind betting that a revised forecast/profit warning will be forthcoming in the coming weeks. - Watch this space.
Hi Dasut - Indeed, the reference in the presentation to Q3 being less than Q2 and that year-end is likely to be at the lower end of forecast, is actually a veiled threat. Bearing in mind, it is contrary to their earlier statement that output would grow Qtr. on Qtr. -It's almost a repeat of last-years contradiction. Of course investors are going to sit-up and take note of this and as you suggest, take flight/panic. Taking account of this managements history of double-talk, the reaction is understandable. BTW, it wasn't a mistake in my opinion, it was, by design, a deliberate action. Make no mistake, they knew what they were doing and there actions and the uncertainty they have spread, will probably, now, have thrown a dampner on the SP for the forseeable future. Probably until the annuals next-year. - Does it all sound familiar? - It should.
Cowichan Exactly Exactly Exactly!!! BUT they don't make emphasis of the good they open up with a negative statement and this sets off the panic because this is in fact the only thing that is understood by many shareholders. When will the naive management learn that they are actually in the public domain not talking to their like minded colleagues?
So an opportunity to buy more at a knock down price safely tucked away in your ISA wrapper!
For years Centamin under promised and over delivered and I suppose like the management at one point we became complacent and expedited to past custom and practice to continue.
Long term holders have come to realise that the MM always spank the share price that bit harder because the company is so dependant upon Sukari, although as rightly highlighted bt Cowichan it does have lot's more iron's in the fire and any one of those or even more could soon be contributing to overall output!
My old broker friend Peter who put me into Centamin more years ago than I care to remember is absolutely certain that the unresolved court case is still being used by many brokerages as a reason to discount the SP by between 12%-15%.
During last nights discussion at the local Peter explained that there were several large institutional organisations that are wanting to invest in Centamin, but due to their constitutional restrictions they are unable to do so until the court case is resolved.
Thank you to everyone for all your contributions during yet another I believe avoidable set back, or at least one which would have been far less sever if the presentation had been handled more competently!
Would HAVE thought
Great posts Dasut, Cowichan and of course Sotolo.
Bringing insight and calm which is needed
I was thinking share price could go lower, now in the short term not so sure. Due a possible correction in gold with the Fed meeting next week possibly being the catylyst and the drone strike in Saudia Arabia can only aid precious metals I would of thought. Thought it was a good thing to be out over the weekend seeing what happened on Friday with gold/silver and expected carnage in the miners on Monday, but maybe more so Fres and Hoc. We'll see.
Thanks for posting Sotolo you do bring calm to the board, I must admit it did cross my mind to sell on Friday and in the end I bought a few more (Will I ever learn) I always enjoy reading the board as there are so many varying views and different ways of looking at things, fingers well and truly crossed for Monday,just a pity the gold price has slipped a little lately, as at the moment we need as much help as we can get! GLA.
Great post sotolo,
I think this price is slightly below fair value, It may pull back further as the next 2 months have historically been weak for gold price. By next February we will be back testing resistance at 1.50