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Hi 3Bear,
Possibly because they have gotten to used to the time scale perceptions of market traders who tend to think 24hrs is long term and so have lost touch with the reality of the time scales outside of their cocoons for any changes to take place or have any effect in the real world!
Tibbs
Fair Comments Dasut,
As you are aware it seems all too often in the past Centamin has been less popular with the market than many other miners, of course this was'nt helped by the events of 2018 which certainly shattered most of any market confidence, so likely it will take a while yet for market confidence to return in any decent measure, quite likely it's the release of results in March that may well have a more significant effect in changing market opinion and elevating the share price!
Tibbs
Agreed Daz!
Spot on Tibbs, world markets realising the plunge in central bank rates they'd all priced in might take a while...
M. Henderson and new member Alhamd,
Thank you both for the updates on Sukari gold production PRIOR to this RNS and for letting us know that targets were going to be met, not an easy challenge!
As I said previously to M Henderson it requires great confidence to contribute information to this forum offered with good intention from one's acquaintances and contacts because there is always the risk that if things don't quite work out then there are some who will delight in offering criticism and ridicule to you.
That said I am sure the majority of members will be grateful for the information you posted prior to this announcement and recognise your credibility and integrity.
Big respect to you both!
Tibbs
Retail sales report strengthens the Feds resolve to slower the pace of cuts
Also Thursday’s CPI (Consumer Price Index) which revealed that inflation did not cool in December, increasing by 0.3% on a seasonally adjusted basis after increasing by only 0.1% in November. Revealing that inflation increased by 3.4% year-over-year. Both reports will guide the Federal Reserve when it convenes at the end of the month.
https://www.kitco.com/news/article/2024-01-17/retail-sales-report-strengthens-feds-resolve-slower-pace-cuts
Hi Dasut - the market often seems to take a while to notice - the morning of Q3 results 2022 which were stellar the SP was bumbling along at 83p but in the following weeks it took off to 125. Also interest rates staying higher for longer acts as a drag on future GP - maybe that's it, who knows?
So what is going on we see positive news strong positive data and the SP isn't moving even with gold price over $2000 sorry I don't get it? Horgan must feel this is like a kick in the teeth what more does his team need to do?
Horgan says of little sukari: "Have we found a smallish plug of interesting mineralisation? That's one end of the spectrum. The other end is have we nicked the top of a LARGER SYSTEM that's then going to have legs to depth and along strike?
(disappointingly) "We've got no idea at this stage (but) we are very keen to follow up. If it's 300,000oz at 1.2g/t it's going to be accretive to the mine plan and we will take it on from there. If it's bigger than that then EVEN BETTER."
Tantalising stuff!
Very impressed with M Henderson's reporting. - Thank you. - So far a very reliable barometer.
That's more like it as we see a greater contribution from underground and a more flexible open pit and making use of the lowest grades on a dump leach. Would love to know the ounces carried over from quarter 3 to provide us with a more realistic performance but guess can be done by looking at the average of the second half of the year.
If we take the performance of second half we are looking at average by quarter of close to 119,000 per quarter so multiply by 4 and we get 476,000 ounces for 2024 so low end projection, not rocket science but looks like we are back to mining at long last.
Capex is still high but if this continues to improve efficiencies therefore reducing costs in the longer term then job well done.
mhendersen I am envious of your close to the face knowledge glad you are on this forum, Horgan and his team are gradually benefiting from the hard decisions that have been taken so credit to the newish team.
We now need the gold price to recover from the very recent nonsense.
Sorry Langford that posted accidentally as I was doing it. So despite increased ounces and gold price up nearly $200 and aisc down nearly $180 giving an extra $370 approx an ounce, and on more ounces, cash has remained the same year on year presumably with the heavy Capex that was supposed to be through by now?
ounces aisc gold price revenue cash
2023 450k $1,220 $1,983 $892m $153m
2022 440k $1,399 $1,794 $788m $156m
2021 415k $1,211 $1,797 $733m $257m
2020 452k $1,060 $1,766 $828m $310m
Yes indeed Langford. looking a bit further
ounces x1000 aisc gold price revenue millions cash millions
2023 450 $1,220 $1,983 $892 $153
2022 440 $1,399 $1,794 $788 $156
2021 415 $1,211 $1,797 $733 $257
2020 452 $1,060 $1,766 $828 $310
Reading the production side is positive but the 2024 Capex is still large which will impact the cash generation for 2024 - something that is not disclosed in the release - gold price as always is key here
Great RNS and spot on Henderson, all looking good for H1.
SteveJones999
Thank you , The best is yet to come.
Bit of a muted reaction so far (but the day is young), high price so far of 93.25, would expect this to go higher- esp as FTSE and gold stopped sliding for now.
Imagine if the results had been bad!
We get 47.5%. The dividend policy is to give a lower share of profits than under Pardy but that is already baked in to our much reduced dividend so with considerably higher profits the dividend should rise, looking forward to Finals. Bought a tiny few more at 92.8 as market really doesn’t seem to get it unless I am missing something. I need a harder look comparing all inc cash to last year
I don't really understand all the stuff in the RNS------but if I am reading it right, for the year the average price pf the gold sold was $1948 and the average AISC was $1220. So that was $728 profit per ounce?
If that is correct, how does that work out after profit share--------and what would the expected dividends be?
I think the "steady as she goes" approach is showing in the predicted 50/50 H1 and H2 ounces mined for the coming year. A more balanced approach gives a bit more confidence than always having to play "catch up" in H2.
Bought a few more at 93.1p a bargain
Phew it has been a long wait. Finally decent AISC, decent ounces and decent forward guidance. On these figures and Cey historic PE our share price is well undervalued. Very much looking forward to the market reaction at the finals, and hopefully starting today. Also a dividend recovery.
The quality of the results have exceeded my expectations and give confidence that the company going forward can achieve materially better profitability.
Well done Henderson, 3bear and Martin Horgan & his team. After a bad Q3 they managed to pull it back.
Good all round. Now looking very cheap
Https://www.lsegissuerservices.com/spark/Centamin/events/7e02f555-5752-4816-ad8a-cc6070561d9b
Webcast link 08:30