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One fund manager will tell you that it is going to be a sunny day , so put on some suncream ..another will tell you that rain clouds are approaching so take an umbrella out with you
We know something about weather forecasters ..they have a habit of being right 50% of the time (maybe a little harsh )
So where does that leave us with fund manager predictions ? I read them in the same way as I read my horoscope for the day. Read into them what you will .
My first impressions with 3rd quarter results ..
...a little disappointed that production wasn't a little bit higher (approaching 110,000 oz which has increased marginal cash cost and AISC up slightly
...good news re Egptian exploration and bid round terms signed and finalised securing 3000 Kms of highly prospective Greenfield landholding within Nubian shield...these kinds of agreements tend to attract last minute snags and hurdles , so the fact that it didn't is to me, hugely positive..I don't think that the significance of this has yet been reflected in the share price
..lastly gold price increases by 1 % overnight. .I can't see that this has been reflected anywhere in the current share price
Initial conclusion .. good update overall. .although .slightly disappointed that production wasn't higher. .the under pinning works are more progressed now..shouldn't that have led to higher production by now or am I being too impatient ?
All things considered though , I think that once the market has digested all the contents in the report, the share price should rise further .but only a fool tries to second guess market reactions, so I am keeping an open mind
Liberium are working to an agenda, their views seem to differ depending on the client.
Centamin on track after 'solid' Q3
(Sharecast News) - Centamin said it was on track to meet its guidance for 2021 after a "solid" third quarter of operations.
The FTSE 250 gold miner said gold production was slightly ahead of schedule in the three months to the end of September at 103,546 oz, taking production in the first nine months of 2021 to 307,821 ounces.
Revenue rose 3% to $182.9m from gold sales of 103,514 oz at an average price of $1,764 per oz, down 3% from a year earlier. Gold sales rose 6%, offsetting the lower price.
Cash costs fell 4% to $846 per oz and adjusted free cash flow was $6.9m - unchanged and ahead of budget. Centamin stuck to its annual production guidance of 400,000 to 430,000 with a midpoint target and costs guidance of $800-900 per oz produced. Exploration spending will be about $17m, the company said.
Chief Executive Martin Horgan said: "This quarter marked another period of solid operational delivery. We entered the final quarter in a good position and remain firmly on track to meet our stated guidance for 2021."
:)
Ignore them just look at he RNS
What garbage will they come out with today after these results...reiterate a sell at 82p ?
Pog plus .8% going into the open
Any views on the exploration note? "Note: The previously announced Samyoky Block (705km2) has been relinquished for the preferred Um Rus block"
3% production improvement QoQ and life of mine report dated in early December.
There’s a definite positive “air”
Mary did you trim yesterday or scale in
This is the boringly positive rns I hoped for.
“Looks like we’re in clean air.”
Jam today jam tomorrow with no debt and cash a plenty for future dividends Looks rosy to me.
GLA
Some hint of a good on-going 4th quarter regarding production outlook (aiming for 108,000) and AISC (to target $1200 for entire year).
At first glance looks fine and on track for previous guidance for 2021. AISC looks fine and so long as gold price stays north of $1750 the cash machine is spinning hard enabling the company to get some serious exploration under its belt in the next 6 months. Shares should tick up today on this.
Has dropped quite hard overnight pushing gold higher so should be a good day guys
European stock exchanges were mostly higher in premarket on Tuesday ahead of the release of the Eurozone's construction output report and Kering's third-quarter results. United Kingdom Prime Minister Boris Johnson revealed that recent foreign investment in the British economy totaled £9.7 billion as Downing Street prepares for a major business summit, while France reportedly set a November 1 deadline for the UK to expand access to its coastal waters to French fishermen or risk retaliation.
The DAX advanced 0.14% and London's FTSE 100 increased by 0.06% at 7:28 am CET. The CAC 40 climbed 0.12% at 7:08 am CET.
The euro was up 0.33% compared to the dollar at 7:30 am CET, trading for 1.16485. The British pound was also 0.33% higher against the greenback, changing hands for 1.37724 at the same time.
Breaking the News / MS
Good luck today all
Can’t help but comment on the msg board improvement of late.
Some seriously good quality posts and worthy topics.
Thanks y’al and again good luck at 7am
A pivotal company statement I hope.
At Global Mining Symposium 2 Weeks Ago
"...the company was constantly reviewing mergers and acquisitions activity but remained highly selective about it. “Really, B2Gold was built through M&A. We’re always looking, but we have stringent parameters as to what we would engage in.
“Obviously, it must be accretive. We’re open to looking at different situations that perhaps the markets are not giving value to, and we feel that we could add something that would add value to justify the purchase price. And then beyond, we’ve been able to optimize and or discover more ounces at all the projects that we’ve acquired over the years,”
https://www.northernminer.com/global-mining-symposium/global-mining-symposium-b2gold-expects-robust-h2-performance-on-all-metrics/1003834948/
MandA activity occurs in waves in the gold mining industry. Like a rinse. Its the preferred and only way to grow, after a company gets to a certain size. Discoveries need to be very big to make any SP impact on the large companies,and these are not happening, and havent for a decade now. No end in sight to the dearth of big discoveries.
Have a look at the below link if you have not seen this
https://minexconsulting.com/trends-in-gold-exploration-with-a-special-focus-on-quantifying-discovery-performance/
There are other interesting publications
best
the gnome...
hi Candid,
the situation with the share price is direst result of the spoofing by Andrew Pardey and Youssef El Raghy both promoted way above their mine management capabilities, complacency to the long term erm folly of their behaviour sheer arrogance in many respects towards share holders and the advice of more experienced mining professionals
Although they were both aware in 2015 of "The writing on the wall"but chose to deny it and carried on glossing over the true facts for another five years until the writing (Or crack could be denied no more)
From 2015 Kees Dekker
Management has put a gloss over this in their latest 5-year production plan, artificially holding down the strip ratio and assuming continuation of underground mining at a very high level, without having the mineral reserves to sustain this.
Should this 5-year plan be implemented, the life of the operation will be curtailed to only these five years, unless there is a major increase in the gold price.
The table below illustrates that open-pit ore is uneconomical at current mined grade at the required strip ratio and a price of US$1,200/oz. The current good financial performance of Sukari can almost fully be attributed to underground mining.
https://seekingalpha.com/article/3695246-centamin-get-out-while-going-is-good
Updated 2018 The financial performance of Centamin is highly leveraged to the gold price
with NPV5 changing by 5.5% for every percentage point change in the gold price.
https://seekingalpha.com/article/4229201-kees-dekker-reviews-centamin-plc-analysis
https://seekingalpha.com/author/kees-dekker#regular_articles
Martin Horgan certainly has his work cut at Sukari and if he can get that back on an even course I think he will have achieved a far more than any of his predecessors and proven himself to be a safe pair of hands for the long term future.
We don't need any more baloney or pie in the sky,, just good honest stable and reliable production at Sukari for the time being, the rest can wait for now.
Yes. .well if the statistics are true that 80 % of the world's gold deposits has already been mined and that only 20 % is left , then there will be more companies searching for less and less gold.
What usually happens in this scenario is that industry participants will make their way through the whole spectrum of corporate structures .. starting with alliances , leading to partnerships and joint ventures , then on to mergers and then outright acquisitions , until full market consolidation has taken place
The end result will be far fewer but larger gold mining entities . This transition will take place over several years , it won't happen overnight , although transactions are already beginning to emerge.
Regards
The MandA growth machine is starting up, and the gold industry is up for it, as usual. Exploration results not good enough to drive the SP of the miners...
Apollo consolidated just been brought for $160m oz, has a RESOURCE of 1.1 m ozs (mostly indicated category), no plant and equipment, not even a preliminary economic study. Begs the question of the value of CEY with 10m ozs RESERVES, plant, equipment, operating etc etc?
https://www.rameliusresources.com.au/wp-content/uploads/bsk-pdf-manager/2021/10/Corporate-Presentation-Tokyo-Acquisition-Final.pdf
Other smallish mergers
Sept 2021 AngloGold Ashanti Signs Definitive Agreement to Acquire Corvus and Consolidate the Beatty District of Nevada
SEPTEMBER 7, 2021
Aquila Resources to Be Acquired by Gold Resource Corporation to Form Diversified North American Precious and Base Metals Producer
Previous larger mergers
C$33b Kirkland Lake Gold merger with Agnico Eagle Mines
A$16b merger Saracen and Northern Star Resources announced the plan in October 2020
Even the Royalty companies are doing it!
Gold Royalty, Abitibi Royalties & Golden Valley to Combine to Create a Leading Growth and Americas-Focused Precious Metals Royalty Company
Interesting to watch, perhaps coming to your screen soon?
best
the gnome
Yes, Thanks CI
One of the remarkable figures (and there are a few there!) is the premium for Rio. Blowing up sacred caves, blowing out the project in Mongolia, no resolution at Resolution...and so on
remarkable stuff
best
the gnome
Cheers Dagger we all have to start somewhere. ??