Centamin PLC Share Chat (CEY)

As always, known news priced in. Costs may not “soar” over and above what is expected on ASIC. Equally, price will be measured against what was in last RNS and what was said in the webcast and on new license progress. Essentially, zero difference than any other rise/fall following RNS- exceed expectation is a rise, miss is a fall. You could argue it will rise meet expectations as last 2 RNS took
the hits, and meeting is a success as confidence returns. Take your pick!

Report next Tuesday Jan 19th shortly after 7am. The key thing to watch is not ounces mined but profitability of those ounces, ie how much costs have soared, profit is likely to be very low which some don’t fully expect. However the share price is almost half August, and the key is how next year looks. Plus when we eventually get news on new concessions and w Africa

Major European stock market indexes were lower in premarket trading on Friday after Spain reported a new daily record of registered COVID-19 cases while worries emerged about the vaccine rollout in the United Kingdom and the United States. Before the session, investors will be looking at trade balance and industrial production data from the UK.

The DAX fell 0.69% at 7:38 am CET and the FTSE 100 lost 0.50% at the same time. France's CAC 40 was 0.70% lower at 7:38 am CET.

The euro declined by 0.21% against the dollar to 1.21384 at 7:30 am CET and the pound lost 0.16% compared to the greenback at the same time, going for 1.36709.

Breaking the News / VP

Happy Friday y’al

IMHO negative news not priced in but I expect Q4 to be at the upper end of expectations. Does anyone have a definite date for this?

DYOR

Hey guys, I’m looking to invest into centamin prior to the Q4 report, I’m new to the company but can see that there is no debt and the fundamentals look good. I do understand that Q4 production guidelines have been cut due to issues at the mine. The share price looks cheap... but is it a risky time to buy before the report? Or is the negative news already priced in? Any help would be massively appreciated.

https://kinesis.money/webinars/
In the first instalment of gold and silver market analysis of the New Year, Andrew Maguire highlights the important stair steps and anticipated prices for gold and silver over the next two quarters, and breaks down the impact of official intervention on the first week’s trading of 2021.

The precious metals expert answers some of your questions, addresses the concerns around the supposed bearish nature of the latest COT report and explores the diverging market influence of strong physical demand and new US dollar strength.

There has become obsession with COVID. Once vaccines are rolled out, there will be, like other diseases, an acceptable death rate. The way the media (who like the politicians, public workers etc are generally not impacted financially yet), report on this, any deaths are not accepted. If people don’t get back to work soon the amount of for the NHS via tax will be so low many, many, many more deaths will occur from other causes, the death rate of under 60s is arguably higher now because of the COVID focus. On CEY, watching Powell speak as I type, of particular relevance to gold and markets.

No one has suggested Variants are vaccine resistant ..yet.

With new variants appearing worldwide we will need new vaccines as the strain mutates. It could even become deadlier, we may be in and out of lock down for years if the governments continue with the same approach. Market valuations are suspiciously high especially in the US. How can Centamin be bullish when reality is devastation with no certain end in sight, one event will pop the bubble but what event and how far away is it. What's everyone's opinion and strategy?

MarkBellUK,

He might find his 'wallet' has been hacked anyway , it would be the perfect crime !

Brilliant. I can only imagine how many other people will be going to that landfill site now, with or without permission

Any idea where it is ;)

Hi Tornado,

A man who threw away a laptop hard drive containing bitcoin he believes is now worth about £210m wants his council to let him search for it in landfill.
James Howells had 7,500 bitcoins, a virtual currency, on the hard drive, which he mistakenly threw away in 2013.
www bbc co uk/news/uk-wales-55658942

Tibbs re mine spot on incompetence over many years -should be sacking the Capt taker must be due to his famous connections!! Certainly likes the limelight

and good to see possible TA torntony regards the SP and your views

https://newsgrowing.com/2021/01/12/founder-of-a-147m-crypto-ponzi-scheme-sentenced-to-10-years-in-prison/

I think the difference is that Rio Tinto is of gargantuan proportions in comparison and so although the implications and costs of this mess are sizeable and serious, the effects on Rio Tinto overall will be negligible and the market will take it in its stride, not least because Rio Tinto will have its PR department on the case.
In comparison Centamin is a minnow Company dependant upon a single source mine where bad mining practice has been allowed to carry over the years creating so much uncleared waste the open pit is almost unable to function safely or produce the promised guidance and a totally inept general mine manager making damaging PR statements to the Egyptian media!!

May have hit the bottom. We should know in the next 5-10 minutes.

Bitcoin is more like a pyramid scheme, with bitcoin right at the top supported by 5000 plus increasing cryptocurrencies below it, for some to get rich just create your own cryptocurrency and then pay a celebrity like elon musk to do a twitt about your cyptocurrency then money start flooding in.

>Centamin aims to produce 430,000 ounces of gold from the Sukari mine in 2021

So at my calculations we need $1900 an oz to hit median Broker revenue estimates

Shares in Europe traded higher in the premarket on Thursday after the United States House of Representatives voted in favor of impeaching President Donald Trump. Senate Minority Leader Chuck Schumer described the move as an act of defending democracy, and President-elect Joe Biden praised the bipartisan support to the call. Meanwhile, Johnson and Johnson's vaccine against COVID-19 showed efficacy in early trials.

The DAX traded 0.43% higher at 7:42 am CET, while at the same time, the FTSE 100 went up by 0.32%, and the CAC 40 rose by 0.39%.

Both the euro and the pound sterling stood flat against the dollar, selling for $1.21511 and $1.36306, respectively, at 7:29 am CET.

Breaking the News / JR

Centamin aims to produce 430,000 ounces of gold from the Sukari mine in 2021

Posted by Nermin Ibrahim in Masrawy 01-12-2021

Centamin, which is responsible for managing the Sukari mine for gold ore mining, expects the mine's gold production to decline this year by between 4.9% and 11.6%, compared to production in 2020.
Eng. Yousef Al-Rajhi, General Manager of Centamin Egypt and Managing Director of Al-Sukkari Gold Mines Company, revealed to Masrawy that the target production of raw gold from the Sukari mine during 2021 has decreased to between 400 and 430 thousand ounces (an ounce).
Al-Rajhi said, to Masrawy, that the total production of the mine reached 452.3 thousand ounces (an ounce) during 2020, compared to the production of 480.5 thousand ounces in 2019, a decrease of 5.9%.
The Centamin Company announced last October that it expects gold production from the mine to decline during the fourth quarter to 70 thousand ounces compared to about 120 thousand ounces (preliminary estimates) in the third quarter of the same year, and compared to about 148.4 thousand ounces during the same period of the year. the past.
The company returned its expectations, according to a previous statement, to its decision to immediately postpone the surface mining operations in one of the mine areas after monitoring movement in the aforementioned area of ??the fourth phase of the Western Wall, which may threaten the security and safety of workers in the event that mining continues.
The company said postponing mining in this area is a precautionary measure to protect the health and safety of the workforce and the potential for diabetes in the long term.
According to what Youssef Al-Rajhi told Masrawy, Sukkari mine operates 24 hours a day, despite the Corona crisis, and production was not affected at all by Corona, whether in the first or second wave.
Al-Rajhi stressed that the company has taken a structured approach that includes a set of precautionary measures to prevent the emerging corona virus, whereby periodic checks are made on workers by conducting a "pcr" analysis, taking into account the current crisis management plan, business continuity plan, and emergency response measures to ensure worker safety. .
Centamin is among 11 foreign and Egyptian companies that were announced to win last November in the first bid put forward by the Ministry of Petroleum and Mineral Resources to explore for gold during the year 2020.
However, Al-Rajhi told Masrawy that his company has not yet been notified of the sites where the drilling operations will be carried out.
Egypt had signed an agreement with Centamin, an Australian company, to explore for gold at the Sukari mine, which is a huge gold mine located in the Red Sea Governorate, and is among the 10 largest gold mines in the world.

https://www.masress.com/masrawy/701950029

However, Al-Rajhi told Masrawy that his company has not yet been notified of the sites where the drilling operations will be carried out.
Egypt had signed an agreement with Centamin, an Australian company, to explore for gold at the Sukari mine, which is a huge gold mine located in the Red Sea Governorate, and is among the 10 largest gold mines in the world.

They need to put out some better PR on this .

Here is the article.

Related topics
CNBC: The quality of the gold from the Sukkari mine has become poor
Centamin expects to produce 420,000 ounces of gold at the Sukari mine in Egypt in 2015
Centamin expects to produce 420,000 ounces of gold at the Sukari mine in Egypt during 2015
The development of gold production in Sukari mine since the beginning of 2020 and expectations of its decline (interactive shovel)
Centamin expects to produce 420,000 ounces of gold at the Sukari mine in Egypt in 2015
Centamin aims to produce 430,000 ounces of gold from the Sukari mine in 2021
Nermin Abraham will be published in Masrawy 01-12-2021
Centamin, which is responsible for managing the Sukari mine for gold ore mining, expects the mine's gold production to decline this year by between 4.9% and 11.6%, compared to production in 2020.
Eng. Yousef Al-Rajhi, General Manager of Centamin Egypt and Managing Director of Al-Sukkari Gold Mines Company, revealed to Masrawy that the target production of raw gold from the Sukari mine during 2021 has decreased to between 400 and 430 thousand ounces (an ounce).
Al-Rajhi told Masrawy that the total production of the mine reached 452.3 thousand ounces (an ounce) during 2020, compared to 480 production.
5 thousand ounces in 2019, a decrease of 5.9%.
The Centamin Company announced last October that it expects gold production from the mine to decline during the fourth quarter to 70 thousand ounces compared to about 120 thousand ounces (preliminary estimates) in the third quarter of the same year, and compared to about 148.4 thousand ounces during the same period of the year. the past.
The company returned its expectations, according to a previous statement, to its decision to immediately postpone the surface mining operations in one of the mine areas after monitoring movement in the aforementioned area of ??the fourth phase of the Western Wall, which may threaten the security and safety of workers in the event that mining continues.
The company said postponing mining in this area is a precautionary measure to protect the health and safety of the workforce and the potential for diabetes in the long term.
According to what Youssef Al-Rajhi told Masrawy, Sukkari mine operates 24 hours a day, despite the Corona crisis, and production was not affected at all by Corona, whether in the first or second wave.
Al-Rajhi stressed that the company has taken a structured approach that includes a set of precautionary measures to prevent the emerging corona virus, whereby periodic checks are made on workers by conducting a "pcr" analysis, taking into account the current crisis management plan, business continuity plan, and emergency response measures to ensure worker safety. .
Centamin is among 11 foreign and Egyptian companies that were announced to win last November in the first bid put forward by the Ministry of Petroleum and Mineral Resources to explore for gold during the year 2020.
However, Al-Rajhi told Masrawy that his

Yes Dasut, I tried to look at the link again, but comes up as invalid, so can't re-read (probably my computer!). From memory, yes, the negative junk was already reported, hence the hits in October. So I see it as good news if numbers correct as "the slide" has stopped and they are back to meeting what they say. On top of this was the last webcast from the CEO and top team, I posted a while back my views on this and they were all positive, eg cost savings, futures etc and we are still awaiting outcome of licences negotiation finalisations. So, for me, as I haven't seen any bad news, I remain hopeful. On gold- stimulus will undoubtedly come in the USA

Steve If the numbers are correct I thoroughly agree they did better than I expected so lets see a positive spin why talk down the achievements with negative verbiage that has already been reported?

Thank you Siko for your update,
Keep well and safe!