Sapan Gai, CCO at Sovereign Metals, discusses their superior graphite test results. Watch the video here.
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Depends on the interpretation of 'Outperformed" and differentiating fact from fiction (spin) even cutting corners (waste clearance) to excite the market in the short term.
Why was Endeavour so desperate to squire Centamin, might it be the £300 million cash pile, superior reserves and an established profitable mine and further opportunities n Eygpt?
Endeavour has a very different and possibly in many ways less prudent business model and method of operation than Centamin.
You make your choice and pay your money.
From what I know of him I have every confidence in Martin Horgan!
OK no problem, ;-).
Those figure would not stand true apart fro the failure to correctly remove waste and make sure the overall mine safety regulations were being followed by Pardey.
And where did he end up?
In a subsiduary of END.
That more than smelled of deliberate.
But lets be kind and call it incompetence by himself snd collegues most who also left CEY.
IMHO.
Sorry Mr B remove ‘rejected the bid’ from the sentence, but the rest stands, Endeavour has outperformed us by over 50% In the 2 years since the bid, with great latest results and W African success, and time for Mr H, hopefully having got most of the bad news out and underplayed expectation, to start catching up a bit I hope!
Martin Hogans appointment was after ENDs attempted takeover.
He was not chosen till April 20. END had already given up. January 2020.
If they have sold Batie West we know what they will spend the money on in finding 3 million ounces of gold eslewhere to add to reserves.
Thanks as ever Cowichan, viz your reference to Endeavour interesting to see it go from strength to strength up over 50% since the bid while we of course are down, so presumably if the bid has happened we’d be about 25% better off with growing rather than shrinking profit and lower overall cost. time Mr Horgan, having rejected that bid, to catch up.
Thanks- what is the likely impact on the SP on this outcome, and rationale?
Thank you Cowichan for your relentless effort to protect and improve Centamin’s clarity, focus and share price.
Totally indebted to you. Cheers.
Shares in Europe traded mostly higher in the premarket on Friday after Germany reported yet another highest level in its incidence rate, the number of people per 100,000 inhabitants infected with COVID-19. Meanwhile, Deutsche Telekom AG unveiled an annual rise in its third-quarter revenue by 2.1%. AstraZeneca PLC will reveal the same update later in the day.
The FTSE 100 stood flat at 7:01 am CET. At the same time, the DAX gained 0.13%. In the meantime, the CAC 40 went up by 0.06%.
Both the euro and the pound sterling stood flat against the dollar at 7:17 am CET, selling for $1.14409 and $1.33662, respectively.
Breaking the News / JR
Someone posted on Monday “This will be a £1 by Friday.”
How right he was… and the rest.
Happy weekend y’al.
MINISTERS COUNCIL MINUTES FOR WEDNESDAY, NOVEMBER 3, 2021
C. MINISTRY OF ENERGY, MINES AND QUARRIES
The Council adopted two (02) decrees. ** / ++
The first decree appoints Mrs. Aminata OUEDRAOGO / SEMDE, Mle 54 661 J, Inspector of the Treasury, Administrator representing the State, under the Ministry of Economy, Finance and Development to the Board of Directors of the mining company KONKERA SA (note: this is Centamin's local company name**), for a first term of three (03) years.
The second decree appoints Mr. Salif OUEDRAOGO, Mle 56,702 G, Administrator of financial services, Administrator representing the State, under the Ministry of Economy, Finance and Development to the Board of Directors of the mining company RIVERSTONE KARMA SA (note: this is Endeavour Mining's local company name++) for a first term of three (03) years.
https://www.gouvernement.gov.bf/informations/actualites/details?tx_news_pi1%5Baction%5D=detail&tx_news_pi1%5Bcontroller%5D=News&tx_news_pi1%5Bnews%5D=664&cHash=eac01bf272c89e3dfe83b96c06a83f21
------------------>>
My Thoughts:
Remember - The above decree is only a week old...
So to summarize for those who are unfamiliar - Konkera is the Batie West project in Burkina Faso that Centamin decided they weren't going to develop alone - due to lower than required rate of return. Thus they were going to find another company to develop it or divest it - although the time they have left to do so is fast running out.
The fact that the Ministry of Mines has just appointed a representative to Konkera's Board of Director's (to represent the state's 10% free carry interest) is significant - meaning talks must have concluded successfully regarding the 1) disposal or 2) joint development of the Batie West/Konkera deposit.
However, the significance of the second decree issued on the same day/same meeting may indicate some type of deal has been struck between Centamin and Endeavour regarding Batie West. I don't know HOW I feel about that possibility yet.
Regardless, I've posted a picture of the mining decree & map showing the current state of Konkera's mining permit here:
https://twitter.com/DonLawson_/status/1458953135217545224
Other thoughts welcome!
As per an agreement signed in July 2019 between Nubian Mining Co and Shalateen - Nubian Mining Co shall:
- DIRECTLY EXPLOIT AN AREA OF 15 KM2 (EXPLOITATION GRANT - DUNEIBET EL QULEIB BLOCK) “PRIORITY”, AND
- PROCESS AND EXTRACT GOLD FROM ORE.UNDER THE SUPERVISION OF SMRC.
(Sorry for the all caps - just copy/paste from web pages!)
Various consulting/exploration work is currently being done by SRK - see pictures here:
https://www.linkedin.com/posts/ahmed-atito_after-an-exciting-career-as-an-exploration-activity-6864525244611227649-7Y6w
Just how this skirts or embraces the new royalty and rent scheme I don't know but it would seem plausible a similar arrangement could be signed between Centamin and Shalateen for the areas below and above Sukari which were just 'given' to Shalateen.
Nubian Mining Website https://nubianmining.com/
The US premarket 13:30 data points and 19:00 FeD announcements are the key points in the US that dictate the movements- some of which also latterly sometimes have an impact at US market opening times
Edit, sentement has changed.
Just realised that the man currently bankrolling Aston Villa, who have just signed Steve Gerrard as manager, is (according to Wikipedia )the richest Arab and second richest African, being worth $8.7b and is called Nassef Sawiris and is the brother of our mate Naguib.
I agree Herbie, probaly on time at US opening ,or maybe overnight.
It will be an interesting test.
Unless their sentiment ,but thats unlikely,.
Plenty of paper left dump on mugs.
Its always all about pog. US shorters could put the boot in anytime. Lets enjoy it while it lasts...
Another strong day and pog currently making new days high.
Keep going Cey, still cheap.
I agree gjsrg........that's why i bought in!
1. 15 is very cheap it really worth more than £2.50 when price up from .90 p to 1.15 p we all think good price. CEY IS zero debt gold mine company profit-making, dividend-paying. Market cap less than 1.2 B extremely cheap.
best of luck
Someone at Blackrock’s in for a *******ing…
It needs to fly a bit more i need £1.15 to break even!
Of interest to some of us.
Naguib Sawiris.
Egypts Sawawiris looks to battery metals ,awaits nod on gold concessions.
It seems to me that in selling Golden Star Reseves for 291 Million, he see's better prospects in Egypt.
That takes a lot of cash.
He streches his tentacles even further.
Hope he dosn't come acropper,;-).
But if he caught a cold ,new investors whold likely pay.
My CEY is now ahead of my POLY today :-)
Looks like the start of a rotation into base- and precious metals miners, at least in the Canadian markets. EVERYTHING gold/copper is flying.
Prepare to grow gold horns then as I see a move to $1900 before Christmas.