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Yes I agree, and your comments about Mr Horgan are acknowledged and stored
Candid
I agree with you re the FTSE...the overall value doesn't appear to stack up with individual earnings updates
Regarding your comments on Cey , I know exactly where you are coming from.
There has been a steady downwards momentum , with a few false dawns, since it's 27tn May update on the project that cannot be named..this might just be a coincidence , but the price at the time was £1.215.
I can see signs that the trend is reversing , but my guess is as good as anyone elses is as to what happens from here in the short term
However IMO I think that an end to institutional SELLS combined with a positive update on something or other should bring about a re-rating of the share ..
Only time will tell
Hi Candid,
Always glad to be able to help in some way if I am able to, unfortunately on the net you can never quite be sure if whom you are communicating with is whom they claim to be, although after so many years of holding Centamin and being a forum member I have a good idea of the genuine forum members and have also gained some friends too who I am fortunate to be in touch with by other methods.
Believe it or not Martin Horgan is well aware of retail share holders frustrations and really does value and consider their opinions far more than they may realise at present.
Tibbs
Thanks Mrtibbles. Have been in & out a few times on this one but once out, dont bother keeping updated unless i see big price movements either way. History has been and gone and Egypt has had its fair share of bad news but seems to be fairly stable at present hence Western Companies investing there. A new Management can often work wonders if they have a good understanding of PM mining and also of the Country that they operate in. Hopefully they can get this Company running better and more efficiently but i invested mainly because i feel that gold is undervalued so will hold out for a big upside correction in 2022.
Hi Rocket,
How long have you got?
No seriously I think you may be a relatively new holder there are many changing factors over the years that have contributed to us being where we are.
Unfortunately share holders good nature and trust was thoroughly exploited by certain members of the previous management, although there comes a point (in this case a crack in the wall) exposes the true state of affairs and when the market is deceived it demands a severer retribution in the form of share price repression!
Please have a look back through some of the previous years annual reports and quarterly updates on the Centamin home page.
But on a brighter note I have great confidence in Martin Horgans new strategy and his team, so I remain very optimistic for the future!
On the Chart,the pullback from the 89p low,doesn't look very good pattern-wise.Tho,are these up moves being mistaken for Bull market moves.And are they really Bear Market rallies ?.
The move up in markets from the pandemic low look a lot like a Bear Market rallies,chart-wise.
Thanks Auson. Looks like it will need gold prices to be kept at this level or above to maintain resonable profits then if production is down. Still a low price IMO given issues that will be resolved. Made profits in all others that you mentioned, more so in PAF which i believe is one of the best miners to be in at present. As they say, buy when out of favour and hold.
ROCKETVI,
Well production is down ASIC is up, issues with movement in the forth wall halting mining in a high grade area until its safe. Then an increase in stock lending of nearly 1% and Blackrock selling 3%. Yes we are undervalued but look at HOC FRES and POLY also undervalued for different reasons. Sentiment still not with Gold due to crypto hype, rate hike expectations and yield curve, but I don't see any Central Banks buying Bitcoin.
Thanks Mr T for explaining the background situation .., it's just that I don't like my integrity being questioned, but I agree that it's time to move on .
I must add that your tact and diplomacy skills in handling this situation have been second to none..maybe you are the one that Centamin needs to handle the high level discussions that need to take place to resolve the Batie West situation !
Best
Candid .
Strange share is this one regarding low S.P. as over £2.00 fairly recently and now look at the price given the price of gold. Not sure why this isn`t moving but have bought back in again as it is worth more than £1.00 on current values. Anybody know why this is at such a low price ?
Fair comment's Candid,
I once worked under a factory production superintendent (Lou)and sometimes on our Monday mornings reviews of the previous weeks output Lou would question certain operatives worth,( Lou kept racing pigeons)
In short if a racing pigeon isn't worth it's corn you give it another chance, if it does'nt improve you wring it's neck!
I think Lou's philosophy should apply to company directors!
Also politicians!
Hi Candid,
To be fair to Mr Bond and explain to you over the years especially when the share price is shall I say rather depressed and especially during times of attempted hostile take over's or ridiculously low broker ratings this forum has suffered from new members popping up who are suspect in their intentions , i.e.working to an agenda to discredit Cenatmin and unnerve any waiving share holders.
I fully appreciate that your trading method is not geared towards long term investment, but to buy in to a stock when the fundamentals suggest it is undervalued when the available data and market conditions suggest the strong likely hood of a sharp rise to your decided exit level.
This is possibly why you may be regarded with some suspicion by some long term holders and can only suggest to try be more sympathetic or understanding of their investment strategy.
Mr Bond is a long term holder who has always been supportive of fellow forum members and fellow share holders and is held in high regard by the majority, in short a very decent chap!
I agree with you Mr Bond they should .
Regarding the mechanics of how this might take place in practice , in a country which is 1053rd out of 1085 most difficult countries to do business with ( I think Mr T reported) ..well a route might be as follows
Yes , working in a country such as this, obviously has its hazards , but it also presents opportunities ..
Influence can be bought ..some people refer to it as behind closed doors acts of diplomacy
if they can't secure that influence , or achieve the same outcome in an alternative way, then they shouldn't be operating out there .
Warm words of comfort are cheap ..as shareholders we want results , how they achieve that is down to them .
They are paid big bucks..they need to earn it .
1823 then 1835.
I can see CeY closing 1pound this week.
Why should I answer a hyperthetic question.
The CEO/BOD will act with far more knowlege than others.
They have to answer to Shareholders big and small ,that is their job.
Wobbly no, just buying them back cheaper than they sold..
blackrock have a wobbly?
Shares on the major stock market indices in Europe were flat to higher in the premarket on Monday, after virus concerns intensified in the bloc. Data compiled by Germany's Robert Koch Institute (RKI) showed that the seven-day COVID-19 incidence rate in the country reached its highest level since the start of the pandemic, as investors prepared for the results of the European Union Sentix Investor Confidence Survey to be released later in the day. Meanwhile, the United Kingdom reported having administered 10 million COVID-19 booster shots and third doses, as the country revealed plans to roll out Merck's COVID-19 drug molnupiravir by the end of the month.
The DAX remained flat and London's FTSE 100 increased by 0.14% at 7:26 am CET. The CAC 40 grew 0.11% a minute later.
The euro and the pound stood flat against the dollar at 7:18 am CET, selling for 1.15680 and 1.34900, respectively.
Breaking the News / TT
Fair comments Mr Bond, it would be ideal if we could get all/something back, although developing the mine to have it snatched by some militant group or corrupt regime so to lose even more doesn't sound an appealing or sensible option.
Assuming there is a willingness then what could be negotiated with whom and with what assurances?
I agree with Cowichan on the strategic spent $36 million exploring and developing it to its current potential and the estimated Net Present value (NPV) of $282 million at consensus gold prices is a very considerable sum and should/will I hope be taken very seriously by the present management.
Also negotiation if at all possible to recoup some/all of this would be preferable to a legal challenge.
Agreed Razor's!
That is the general general opinion amongst the UK/EU wholesale precious metals dealers, Swiss refiners already have lengthening back orders times in excess of six weeks, the big banks trading desks are now trying to unwind their short positions on the Comex and many central banks (not UK)are accumulating bullion.
Opinion is divided on how much of this is a result of Basel 3 or the worsening economies and ever increasing debt of major governments, supply chain issues, increasing wholesale energy/ commodity prices, resurgence and ongoing pandemic, so probably a combination of all of these issues and others!
Mr Bond ...
I was not suggesting that EMRA own 50 % of Centamin ..only that they share 50 % of the profits , and that they would be taking a 50 % hit on the $ 36 million already spent on the Batie West project .
Actually , on this point you are right. .they won't ..any hit will be borne solely by Centamin, as the expenditure is not related to Sukari , (which comes under the ring fenced profit share concession agreement).
This only adds weight though against the ' do nothing ' option . The interim accounts stated that they had established a development team to look at potential partners or a buyer. The results of this review have not been published..so we are in the dark as to what the outcome of that review is
My question to you was a simple one ...do you want to walk away from a $ 287 million positive NPV project empty handed ?
Yes or No ?
To put this into perspective ..this amount is the equivalent of approaching 3 years worth of CEY annual profits ..
Let me repeat myself . Yes or No ....a simple question. Just requires a one word answer .
Conspiracy theories relate to me being a paid troll . FFS!!
But at least you have been entertaining.
Not much on TV here .
I did not name another . Nor have I been personal
I think you Petulant , and now aggressive.
It is for you to calm down.
What qustions have you asked ?
It is you that cannot accept question, and make statements lile EMRA own 50% of Centamin.
Take a look a yor previous poxrs..
You go to bed .
I do as I see fit.
If your final sentence is read by others it will seem strange.
What conspiricy theory was that ?
You are the one not likeing questions.