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Good points MrBond.
Also, in many of these border areas the Sudanese artisanal miners (or marauders?) have been exploiting the surface gold deposits for decades.
I have included a few screen captures* from the EMRA site - you can easily see the mounds where artisanal work has been ongoing.
In some respects though it means much of the exploratory work is done in advance.
Simplistically speaking all that's left is seeing how deep the resources run...
https://twitter.com/DonLawson_/status/1450918273478840320 *
From memory and research well over a year ago.
The mineralisation of that area to the south on the border of Sudan,is nothing like Sukari .
They originally tried to sell it after claiming an incredible new find of gold reserves .
The Militaries Pension fund had an investment in it. Difficult to find the figures !
It did not make much profit and Gold was not it's primary resource.
Many semi precious minerals and such.
The new resour was questionable and there was much ,shall we say secrecy.
I do not think Centamin will be interested.
Sawaris made an offer that was refused then walked away.
Not without reason.
IMHO.
Thanks Cowichan- interesting for sure!
Interesting Candid.
Do you have a mental sell price for CEY? If you wouldn’t mind sharing…
I also have a small holding in NRR (at 90p - so at a loss) but wondering where it’s going. A line on that would be interesting too if you have a moment :-)
Oct 20, 2021
The Mineral Resources Authority of the Ministry of Petroleum, in cooperation with the Shalateen Company, is preparing to supply and offer the 7 most important gold exploration areas in Egypt in the Eastern Desert, in a new global bid before the end of this year 2021.
These areas belong to the Shalateen Company, according to a cabinet decision, which stipulates their exploitation to search for gold and associated minerals
https://www.dostor.org/3604405
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My Thoughts:
So this means Naguib Sawiris wasn't able to secure Shalateen's concessions through the back door.
That's good news for all legitimate gold miners involved... now, will Centamin bid?
Map of Shalateen concessions here:
https://twitter.com/DonLawson_/status/1450898424593666048
Thanks Steve ...you are a man of few words...I missed it..
Irrelevant in my view, hence my earlier post.
Do you believe that Cey is exposed to allegations of similar practices in their activities ?
Sorry ..I posted this on the wrong thread
https://www.google.com/url?sa=t&source=web&rct=j&url=https://amp.ft.com/content/f9afe5b0-2167-11ea-b8a1-584213ee7b2b&ved=2ahUKEwiD-66DvNnzAhUUoVwKHcMMCvUQFnoECCYQAQ&usg=AOvVaw0TSAIcFBcEcO_3eq09TJcG&cf=1
Sorry posted on wrong thread. ..it was Muddy Waters not clear waters
https://www.google.com/url?sa=t&source=web&rct=j&url=https://amp.ft.com/content/f9afe5b0-2167-11ea-b8a1-584213ee7b2b&ved=2ahUKEwiD-66DvNnzAhUUoVwKHcMMCvUQFnoECCYQAQ&usg=AOvVaw0TSAIcFBcEcO_3eq09TJcG&cf=1
Should have said Muddy waters report
Mmm...NMC Health comes to mind where even the auditors were involved .. I sold after a damning report by Clearwater ... dismissed at the time..but later turned out to be true ...shareholders lost everything.
Yes I agree with you totally ...well , the vast majority of the time . Patience is always the key
I bought Ferrexpo for £1.02 ! write at the bottom during Covid ...I sold months later for £2.10 ish but then just a few months later it hit £4.75 !!
One vastly under priced , the other vastly over priced ..it has now fallen back to £3 .17
I did the same with Polymetal...sold way too soon , and Plus 500 too..
Likewise though , others I timed just right like NRR
I also made very shrewd moves, even selling at a modest (less than 10% loss ) with Saga, Carillion , Amigo and NMC Health ..I picked up very quickly on dangerous shifting fundamentals and exited. I did tell other investors on those boards what I was doing and why , and I was ridiculed and insulted ..lots of paper tigers on investor chat forums like this.
Too true MrBond.
The shareholders are left unaware until it's too late but the culpable parties seem to get off without suffering damage to their wallet or reputation!
Just like Pardey and others involve in this company in the past.
Not really, if it's wanted by a buyer, it will still be. Be thankful we didn't mine...
Don if only they had to pay a tiny fraction for their past sins.
The Shareholders ,yes.
But the Boards and their type ,are able to pocket their remuneration and walk away shrugging their shoulders ,waiting for another deal to appear ,rinse and repeat but never acknowledge their culpability, unfortunately.
October 18, 2021
False Invoices In The Mining Sector: More Than 300 Billion In Budget Revenue Losses Between 2014 and 2019 (Ren-Lac)
Notwithstanding these figures, the question of transparency in mining remains raised by several actors. Civil society organizations such as REN-LAC, ORCADE and the press continue to draw the attention of the authorities in charge of the sector to cases of embezzlement, fraud and opacity in certain operations. export of gold. The so-called “fine coal” case perfectly illustrates this state of affairs. A study carried out by the Center for Studies and Applied Research in Public Finances (CERA-FP) showed that the Burkinabè state lost more than 100 billion FCFA in 2017 due to tax exemptions enjoyed by mining companies. To this study is added the report of the Parliamentary Commission of Inquiry of 2016 on the management of mining titles and the social responsibility of mining companies which points to “a dubious reliability of the declarations on the quantities of gold produced”. This parliamentary inquiry results in a shortfall of more than 500 billion FCFA.
The Story Conitues Here:
https://www.leconomistedufaso.bf/2021/10/18/fausses-facturations-dans-le-secteur-minier-plus-de-300-milliards-de-pertes-en-recettes-budgetaires-entre-2014-et-2019-ren-lac/
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This may put a hold on any sale of Batie West - really poor timing for such a report to go public.
The only upside - maybe now Endeavour and its questionable CEO Mr Montessus will have to pay for their past sins...
The local farmers where I live have a saying… “the day you buy, is the day you sell “
It means if you manage to buy at a lowball price you’ll always make money even if you don’t sell at the top of the market. I think this very much applies to share trading.
If you buy them cheap it doesn’t matter if it takes 6 months or a year to reach their your always gonna win!
This could be a slippery slope - also subject to vague interpretations (and possible litigation from disgruntled locals?) What is the recourse should fallouts occur? Opening a can of worms so to speak...
---------------------------------->>>>
Sept. 22, 2021
I.5. IN RESPECT OF THE MINISTRY OF ENERGY, MINES AND QUARRIES
The Council adopted a decree establishing the conditions for local supply in the mining sector.
This decree aims at the application of article 101 of law n ° 036-2015 / CNT of June 26, 2015 on the mining code in Burkina Faso which provides that "holders of mining title or authorization as well as their subcontractors give preference to Burkinabè companies for any contract for the provision of services or the supply of goods at equivalent conditions of price, quality and deadlines ”.
The adoption of this decree promotes the local supply of mining goods and services, facilitates the transfer of skills and technology for the benefit of nationals.
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=632&cHash=76bc0f3913aad5f9c23f8c52c3128c0a
Steve ...yes I think the reason why I like the mining sector so much is that very few people understand it (and I include myself in this ) and the few people who do are on this board !!
This lack of knowledge out there is probably what creates the huge disconnect between a mining company's share price against its fundamental value.
Prime hunting ground for me ( and you presumably ) no doubt the "buy and hold forever " type investors may have a frown on their faces at that .
My approach is similar -
Also with Cey ..as you can see , its share price doesn't go up in steady incremental steps ..it goes up and down like a heart beat ..from March to September 2020 for example , it more than doubled , from 98p to £2.20 then it lost 50.% of its value over the next 6-8 weeks ...yes overshadowed by production problems ..but mining shares in general do tend to go up and down in similar fashion , reflecting the markets tendency to overreact , sometimes quite significantly, in the face of both good and bad news .
This suits my investment style perfectly . I buy shares when I think they are undervalued against their fundamentals , and then sell them , when I think they are over valued .
I go for 'stealth' moves ..in and out within a year , I usually make a profit , but I do tend to exit too soon and miss out on larger gains , but hey , a profit is a profit as they say .
I don't ever get emotionally attached to a share , so if the fundamentals take a significant turn for the worse , them I am quite prepared to sell at a loss , rather than having blind faith in it .
As I say , I usually come out on top , some may say luckily...well I do tend to find that the more research I do , the luckier I get ! .
I have made money on other mining shares using this approach ( but lost money twice on Fresnillo which I now avoid ).
This is my first investment in Centamin ..lets hope luck holds.
Good luck to all.
Warren Buffett quotes on CryptoCurrencies :
(1) I can say almost with certainty that they will come to a bad ending
(2) Cryptocurrencies basically have no value and they don't produce anything. They don't reproduce, they can't mail you a check, they can't do anything, and what you hope is that somebody else comes along and pays you more money for them later on, but then that person's got the problem. In terms of value: zero
(3) It's ingenious and blockchain is important but Bitcoin has no unique value at all, it doesn't produce anything. You can stare at it all day and no little Bitcoins come our or anything like that. It's a delusion basically
(4) If you and I buy various cryptocurrencies, they're not going to multiply. There are not going to be a bunch of rabbits sitting there in front of us. They're just gonna sit there. And I gotta hope next time you get more excited after I've bought if from you and then I'll get more excited and buy it from you. We could sit in the house by ourselves and we could keep running up the price between us. But at the end of the time there's one Bitcoin sitting there and now we've gotta find somebody else. They come to an end
(5) In terms of cryptocurrencies generally, I can say almost with certainty that they will come to a bad ending. If I could buy a five-year put on every one of the cryptocurrencies, I'd be glad to do it, but I would never short a dime's worth
(6) Probably rat poison squared
(7) It's a mirage basically. It's a very effective way of transmitting money and you can do it anonymously and all that. A check is a way of transmitting money too. Are checks worth a whole lot of money just because they can transmit money? I hope Bitcoin becomes a better way of doing it but you can replicate it a bunch of different ways. The idea that it has some huge intrinsic value is just a joke in my view
(8) it's not a currency. It does not meet the test of a currency. I wouldn't be surprised if it's not around in 10 or 20 years. It is not a durable means of exchange, it's not a store of value. It's been a very speculative kind of Buck Rogers-type thing and people buy and sell them because they hope they go up or down just like they did with tulip bulbs a long time ago
(9) A rising price does create more buyers and people think 'I've gotta get in on this' and it's better if they don't understand it. If you don't understand it you get much more excited than if you understand it
(10) it will feed on itself for a while and sometimes for a long while and sometimes to extraordinary numbers. But they come to bad endings and cryptocurrencies will come to bad endings
The same old people saying the same old rubbish about Bitcoin. It keeps bouncing back and will be 100k year end as I said back in March. Thank goodness for Bitcoin as opposed to my CEY investment. How much was CEY 12 years ago? 80p. How much was Bitcoin 10 years ago.....$0. I just wish I had invested more :(