London South East prides itself on its community spirit, and in order to keep the chat section problem free, we ask all members to follow these simple rules. In these rules, we refer to ourselves as "we", "us", "our". The user of the website is referred to as "you" and "your".
By posting on our share chat boards you are agreeing to the following:
The IP address of all posts is recorded to aid in enforcing these conditions. As a user you agree to any information you have entered being stored in a database. You agree that we have the right to remove, edit, move or close any topic or board at any time should we see fit. You agree that we have the right to remove any post without notice. You agree that we have the right to suspend your account without notice.
Please note some users may not behave properly and may post content that is misleading, untrue or offensive.
It is not possible for us to fully monitor all content all of the time but where we have actually received notice of any content that is potentially misleading, untrue, offensive, unlawful, infringes third party rights or is potentially in breach of these terms and conditions, then we will review such content, decide whether to remove it from this website and act accordingly.
Premium Members are members that have a premium subscription with London South East. You can subscribe here.
London South East does not endorse such members, and posts should not be construed as advice and represent the opinions of the authors, not those of London South East Ltd, or its affiliates.
"No reason to be as low as 92-93p. Constantly undervalued."
I disagree. There is every reason. All gold miners are suffering. Even the best-of-the-best, multi asset miners are heavily depressed. The only gold miner that I've been really successful with in the past 6m is Fiore Gold and that's only because they're being bought out. The rest are being buffeted by the expectation of the future gold price movements.
"This thing is so predictable lol"
I disagree. It's just bobbing about in a holding pattern like gold. I'm braced for the Fed taper, which could be terrible for gold. I **still** believe that gold should be rallying, but it's not corresponding with the market reality and there might have to be a time when I adsmit I was wrong and sell out here. If this continues for too many more months, it's psosible that the gold rally will not happen for this cycle.
You'd probably have got em cheaper tomorrow afternoon as Fed taper talk on the agenda..
Just bought back in again at 92.5 after selling at 100. This thing is so predictable lol
Exactly 007 now any newbies know this important nugget of information too. To emphasize any discovery now made in the new concessions will be on great terms a maximum of 20% profit share.
Certainly attracting such value before like in October. No reason to be as low as 92-93p. Constantly undervalued.
Stock exchanges in Europe traded mostly lower in the premarket with tensions between the United Kingdom and France about access to fishing waters in the spotlight. Investors will monitor manufacturing data reports for Germany and the Eurozone that are set to be released after the markets open.
The DAX lost 0.11% and London's FTSE 100 decreased by 0.13% at 7:28 am CET. The CAC 40 was flat at 7:07 am CET.
The euro was flat compared to the dollar at 7:29 am CET, trading for 1.16019. The British pound was 0.14% lower against the greenback, changing hands for 1.36450 a minute later.
Breaking the News / MS
I believe the main driver to improve CEY share price will be an increase in the number of ounces produced. This will have the advantage of proportionately reducing costs and increasing overall profitability but until that happens the SP will bob around where it is +/-.
Gold price to stay where it is would be great and to increase would be money for nothing. For it to fall back is a risk and something I very much hope doesn’t happen.
Sadly long awaited news of new licenses and positive news about Doropo were both damp squibs.
Although end of year results should be ok the market will still probably see a reduction in number of ounces produced year on year and less profit than the year before. Even if know it is actually a new dawn.
Like others I am anchored in, but content to give CEY SP time to mature, if nothing happens by end of 2nd quarter next year I will reappraise my position.
CAIRO – 1 November 2021: The House of Representative passed 10 draft laws on Monday regarding gold and mineral exploration and traffic.
Seven draft laws have been passed on licensing the Minister of Petroleum to explore for gold and minerals in the Eastern Desert.
The minimum age for riding a motorbike has decreased from 18 to 16 years old per an amendment approved by the House of Representatives.
Gold mining
The draft laws all allow the minister of petroleum to contract out excavation to the Egyptian Mineral Resources Authority and Shalateen Mineral Resources Company. The laws specify the locations in the Eastern Desert as Alaqy Valley, Om Jrayat, Fatiry, Hamata, Hanjaliya, Om Oud, Otoud, Baramiya, Eiqat Mount, Jarf Mount, Maseeh Mount, Elba Mount, and Aswan area.
Sukari gold mine is the Eastern Desert’s most famous mine, and it is excavated by Australian company Centamin. In 2020, Sukari produced 452,320 ounces of gold. excess of 4Moz of gold, generating $1 billion free cash flow, according to Centamin’s website.
In July 2021, Egypt signed four contracts with Centamin and Canada’s B2Gold to explore for gold in the Eastern Desert. It also signed four other contracts with Canada-based Barrick Gold corporation, the world’s second largest gold excavator. Other companies, including Egyptian companies, also won concession in a 2020 tender.
The Eastern Desert is known to be a vast untapped resource of gold and other minerals such as copper.
https://www.egypttoday.com/Article/1/109458/Egypt-s-House-of-Representatives-passes-10-draft-laws-on
--------------------------->>>
Only thing that's certain - young Egyptian motorcycle riders will be pleased
Do a little more homework, new concessions are on new terms. From earlieir this year or was it last year.
It suited Centamin at the time ? 2005.
Now they have Sukari.
Not that bad for a newly organised company, a foothold, not perfect, but worked.
Hopefully then in any further tie up between cey and Egyptian government on newly won concessions will be on more digestible terms?
Shaeteen are a strngely run company I researched almost 2 years ago.
With strong Government and Military connections if yo look carefully.
Wouldnt be surprised to see Naguib Sawaris funding the concessin or conceeions for a good return. IE a lot o dosh.
The location may not be a mystery Cowichan, but everything else is. It always has been. - It just goes on and on.
Giving newbies a tie up with the Egyptian government of royalties for 20% or less whilst cey pay 50% is just not cricket though?
Yes Sherlock, just giving other investors a little bit of its history :-)
Article dated June 30, 2020
Egypt has been trying to lure foreign investors to its mining sector with new regulations introduced earlier this year. They eliminated the need for miners to form joint ventures with the Egyptian government and limited state royalties to a maximum of 20%.
https://www.mining.com/egypt-says-1-8bn-gold-deposit-found-in-eastern-desert/
Egyptian House Of Representatives approves that Shalateen deal with the EMRA today. The locations are not a mystery but just how Shalateen will remain involved is another question. I can't see Shalateen operating outside the commercial framework the EMRA has finally established with the likes of Barrick & Centamin - so the question who will finance Shalateen's exploration? And what does Shalateen offer besides the physical location?
https://www.linkedin.com/feed/update/urn:li:activity:6860976021571821568/
The $ 60 million half year profit can be seen in the interim half year accounts.
Sorry my stupidity but where did you read the $60m profit for the first half? My second point below that you refer to was predicated on this year's earnings per share being quite a bit below the average eps of 11cents over the last 5 years when ave share price has been about 140, all best
Sotolo. The half year showed net profit of approx $60 million , which equates to 5.16 cents...if you simply double up then it will be approx 10 cents .. not unreasonable assumption, production should be up slightly in second half of year and gold price stable .
I don't understand your comments about earlier years .
I am pointing out that EPS this year of 10 cents with a current share price of £0.94 is an extremely low share price in comparison to years 2017 to 2019 when EPS only averaged 7 cents per year ..but the share price during those years averaged much higher than the current share price of £0.94
Hope that clarifies things
So does Candid or Sotolo need to sharpen their pencils, I wonder, but couldn't possibly comment!
Now where is that top hat?
Well Paul ""You might very well think that; I couldn't possibly comment!"
https://www.youtube.com/watch?v=Oz8RjPAD2Jk