Centamin PLC Share Chat (CEY)

I'm still cautious here. I suppose for three principal reasons, two of which are not directly Centamin related:
1. At some point soon a "no deal" Brexit will be ruled out by Parliament. This will cause the pound to jump against the dollar, maybe by as much as 3% to 5%, which inevitably will have an effect on CEY share price.
2. IMO, Trump now needs a China trade deal politically. If one is concluded, even a partial one, then "risk on" market sentiment will return, and the price of gold will probably fall back - not to the levels of last year, perhaps, but still fall.
3. I am still worried by the "grade" issue that was a major factor in the three production guidance warnings we received last year. For me, that's the reason why production guidance has been delayed this year. Also, how will the market react when either: a) the dividend is cut, or b) Centamin dips into its cash pile to fund it?
I'm out at the moment, and looking to buy back in at some point. But I think I'll wait and see for a couple of weeks.

Well, a steady as you go message with no veiled warnings attached. - As mizolgit has said, what a relief. - I think we can interpret the message as saying - 'We have weathered the storm' - 'Hoist the mainsail, set course for the future' I won't get carried away but rather await Feb. 'Annual statement' and 2019 guidance. - When interviewed in December Josef El-Raghy indicated 544-560 ounces for 2019. We'll soon know and if we encounter another storm, let's hope it's the 'Perfect storm' where a healthy production guidance for 2019 is announced along with exciting news about BF and CdI. :-)

Hi Dasut, you can listen to the conference call until around 1300 hrs normally as it is recoded.
Results today show some improvement , grades still a problematic though, lets hope they improve some more as we progress into 2019.
Still at least the chairman is back in the front seat for the time being so that may help?

Better than we feared,although it seems that the grades are still a cause for concern, perhaps goldgnome or others have some thoughts on this?
spare LHDR now on site as stated by Mizolgit which is good news
MM kept the SP where they wanted,perhaps waiting until until Feb. so unless POG drops then I suppose we may languish around here?

I missed the 10 minute window this morning and would be pleased to hear from anyone who did listen to the conference call as to anything interesting on 2019 predictions particularly in areas of additional resource.
I was relatively pleased with the prelim production numbers it proves that they can move material and multiply the tonnage by higher grades (I hope) and all looks good.

I feel relieved and satisfied that we can now move on into a fresh year..

Conference call

A conference call will be hosted by the Company at 09.00 GMT (UK) today to discuss the results and answer any questions. Please dial in 10 minutes before the start time using the details below:

Participant code: 31935882#

UK Toll: +44 (0)3333 000804
UK Toll Free: 0800 3589473

European stocks rise in premarket trading
European stocks posted gains in premarket trading on Wednesday on hopes the talks between the United States and China will result in a trade deal.

The latest round of negotiations was set to last two days but has been extended, sparking optimism an agreement will be reached. US President Donald Trump praised the progress in talks with Beijing and China's Foreign Ministry noted both sides are willing to resolve the ongoing disputes. Furthermore, Apple CEO Tim Cook also stated he is "very optimistic" the two countries' will strike a trade deal. On the data front, investors awaited German trade balance figures as well as the European Union unemployment rate .

The FTSE 100 rose 0.85% premarket, the DAX jumped 0.97% and the CAC 40 added 0.78%. The euro was up 0.17% against the dollar to sell for 1.1460 at 7:48 am CET.

Breaking the News / NP

-.22% $2.77 1282.66
High of the day 1287.13
Low of the day 1281.32

http://otp.investis.com/clients/uk/centamin_plc/rns/regulatory-story.aspx?cid=1756&newsid=1223039

And that was very clearly stated,from the company.

Or multi miners in Egypt.
That is not difficult.
Cey have survived different governments ,I do not see much change in the future.
Yes it would be excellent for mines elsewhere ,then it would gradually become a major player,in mining.
What to me is correct ,each new mine after construction pays for itself.
Or pull the plug.

"Centamin is in a very strong financial and operational position and we respect that this year is the right time for Josef to hand over the reins to a successor as we enter the next stage of growth in 2018 and beyond."

Well, Andrew Pardey said that at the start of 2018 - Does anyone think 2018 proved to be 'next stage of growth' worthy?!

Neither do I BUT I hope to see the headline 'Centamin Transitions To A Multi-Mine Producer' in the coming hours, days or weeks...

I also think we’ll be knocked back tomoz, I’m hoping by not very far, would be delighted to be proved wrong.

It will make the open tomorrow a little higher, but then it can go either way depending on the news.

Yes I agree with you both.,but now being pessimistic ,is ok ,after all the crap we have had to swallow this last year..
Who knows ,it is remotely possible , it could be a decent report.
No real point in trying to guess as LTH ,we all know that.
A little clarification may clear the fog.

There seem to have been a number of quite large late buys - any significance?

I'm afraid I am of the same opinion Rebess, that we shall get knocked back tomorrow, even the chairman getting out of the back seat for whatever reason may not save us, obviously I hope I'm wrong!
But today's spanking late in the day could be so the MM can keep the SP where it is if things have improved at Sukari, although if not then the SP will be in for a severe spanking all the way down again!

I have a feeling we might take a hit tomorrow. - Going on the uncrossing data there's clearly some hefty selling orders on the books to be filled. - At least we've built-up a bit of a cushion over this last week to help mitigate any adverse reactions. - Always a chance of course that I've misread the tea-leaves here. - I hope I have.

http://www.cityam.com/270672/acacia-shares-drop-amid-reports-fraud-office-probe

Shares in Acacia Mining dropped earlier amid reports that the Serious Fraud Office is looking into the company’s affairs in Tanzania.

The London-listed miner fell 3.76 per cent to 185.45 after the Wall Street Journal claimed an SFO investigation will focus on claims that the company’s employees bribed Tanzanian government officials and consultants.

The SFO told City AM it is unable to comment and cannot confirm or deny the existence of any investigations.

Acacia said it “is not aware that the SFO is investigating the company. However, Acacia has been in contact with the SFO about the allegations of corrupt activities in Tanzania which are the subject of proceedings in Tanzania.”

Last week Reuters reported that Acacia’s main shareholder Barrick has made progress in discussions with the Tanzanian government, however no deal has been reached yet.

Two years ago the government slapped Acacia with a tax bill claiming it had underreported the amount of gold coming out of its mines.

Officials hit the miner with a $190bn (£150.5bn) bill.

Four of its local employees and former employees were arrested in Tanzania in October, and three are still in detention, charged with so-called non-bailable offences.

In October 2017 the executive chairman of Barrick agreed a framework deal with President John Magufuli to pay the government $300m and give it 16 per cent ownership in the mines. Just weeks after the deal, chief executive Brad Gordon and head of finance Andrew Wray stepped down.

However the deal has not yet been implemented.

All three markets up 1\2 a percent, gold although consistently off by .4% for most of the morning may continue it’s upward trend after the US opens.

——————
Wall Street up in premarket amid US-China trade talks
US stocks rose in premarket trade on Tuesday as the world's two largest economies continued the two-day round of talks aimed at easing their trade tensions. Also, it was reported yesterday that Liu He, a top aide to Chinese President Xi Jinping, got involved in the talks, a move taken as a sign of openness for solutions that would end the trade dispute.

The Dow Jones Industrial Average climbed 0.64% in premarket trade at 6:32 am ET, the Nasdaq 100 gained 0.51%, while the S&P 500 was up 0.61% at the same time. The euro lost 0.26% against the greenback, changing hands for 1.1461 at 6:33 am ET.

Breaking the News / GG

European stocks rise slightly in premarket trade
European stocks were slightly higher in premarket trade on Tuesday as investors closely monitor the latest news surrounding the United Kingdom's departure from the European Union. After Prime Minister Theresa May's cabinet confirmed yesterday that the meaningful vote on her Brexit deal will take place next week, most likely on Tuesday, it was reported that both the UK and the EU are considering an extension to the Article 50.

On the data front, German industrial production figures came out before the bell, while the UK house prices and the EU consumer confidence are expected later today.

The FTSE 100 was up 0.04% in premarket trade, while the DAX gained 0.09% before the opening bell. Meanwhile, the CAC 40 was 0.12% in the positive territory. The euro was 0.33% lower against the dollar to sell for 1.1439 at 8:06 am CET, while the pound remained little changed versus the US currency, going for 1.2768 at the same time.

Breaking the News / FH

-.49% -6.29 1282.58
low of th day $1281.89
high of the day *1290.26

There should not b a surprise we all know they will not be brilliant but no worse than expected so we all can all look forward to a rise towards end of month as divi is announced and Brexit vote is heading toward no deal never mind Trumps next tweet on China etc.

Maybe MM shaking the tree or perhaps knocking the price back so if the results are better than anticipated then they can raise the SP back to where it should be now, or of course if the results disappoint then MM can really spank the SP!
As we have all know Centamin is really difficult to call even at the best of times!