Centamin PLC Share Chat (CEY)

Wrong board? This is GOLD.

Agree cut in production.
5 percent increase in pries already.

Woohoo go gold!!

On weaker US jobs figures.
It was expected 200000 but Novembers figure 150000.
That along with increasing salaries is possible higher inflation.Putting pressure on the FED,rate hikes and possible slowdown in economy in 2019.
GLA.

Thank you downhill, I take your point and agree with you that the money is of course the overriding concern for us all.
I could perhaps have worded my explanation better, however the point I was trying to make was that we kept our money invested Centamin when the situation in Egypt or the market would normally dictate that we should get out because we had great faith in the management and the company.
As you are no doubt aware we still have that money invested n the company, albeit worth half as much, but percentage wise I feel the hit on our faith and trust in the management has been greater.
Like everyone else I really do hope that they put things right as soon as possible and wouldn't it be great if the management made some efforts to communicate with share holders about how things are progressing, it doesn't have to be in great detail, but just an overview, far better than silence.

In sterling gold is getting near it’s 2018 high

Really Mr T, "more than just about the money" I think it's all about the money.

You are right it will take time for the company to regain our trust. They are working on it and I hope the numbers over the next year will help us to put this unfortunate year behind us.

It's a quality company and even with the problems they have had this year the numbers are still good.

P.S. I always enjoy your input on this board.

TA on gold suggests $1300 quite soon!! When that happens hello 120p for sure then if gold holds over that 140p by results?!

Anyway TA shows a bounce up to 115p on the cards.

All the best to you too Mr T. Yes I've recently joined and am more if a trader I suppose but happy to be long term in centamin should the gold price keep showing strength. And a nice blue day today Mr T. As ever with shares it's all about timing and whilst the share price declined, I believe it only followed other goldies down the downgrades were an excuse for the market. Look you got a bumper dividend so as a long termer you can't be that badly off so live and let live eh?

Dazah,
No disrespect intended towards you, but unless you a long term holder and then you may not understand why some of of us feel so betrayed by the board and let down by recent events.
Investing in Centamin was always about much more than just money, it was about placing trust and faith in the management and holding on firm along an at times very bumpy road.
The ordinary share holders travelled to the AGM's in London and Jersey where they met with the chairman and other board members who assured them that their faith in Centamin was well placed, as it was a company which could be trusted and relied upon to delver on it's promises in the future.
So hopefully before too long it may be possible to increase production to the previously promised levels and restore the company value, but I fear the management will have far greater difficulty in recovering another very rare and precious commodity, the trust and respect of the ordinary company share holders!

Two drivers, firstly the reduction in holdings as you've just seen today, and as per usual when a share price is on its knees (so about the time you should buy) there is a broker downgrade to hold from a broker ive never heard of. There you go two reasons.

Yes Dazah, and given the sharp profit and dividends drop coming in next years figures price seems around right. But why I wonder do more want to sell than buy this week with this old news, gold rising lately and doing esp well in sterling, and oil costs falling?
Is there something we don’t know or are investors just worried by decimated profits and increased EMRA share of the take? While we look further and see recovery?
I don’t see how mm’s can affect the price long term or they would lose loads by under pricing and all of us buying on the cheap, then having to buy back for more.

Sorry I only have a smartphone so don't post long posts. But we make a big thing about the chairman etc but if you look at the hold price, centamin has only really mainly followed that I've the last few years. We were at 160 when gold was hitting $1350 and as it has been said we fayred quite decently on the way back down. It was just the updates were an excuse for the market to drop the price abruptly verses more smoothly with other goldies.

Okay I hear what you say but let's look forward with hope and encouragement. Did you see those wonderful Cleopatra grades? Life of mine has many years to go, and gold appears to be turning. All positives for CEY share price.

Looks like the recent dip was caused by thus fund tweaking their holdings. And in a low traded share causes havoc like it has. Onwards and hopefully upwards.

I think the share price is kept low so that big funds can load up at low price and discourage investors and force them to sell. I can since a rebounce even before a good RNS. I’m a beginner though and don’t ask anyone to take my word for granted :)

Quite right dazah, so you did mention the manipulation going on during the day,thank you for that.
It was'nt my intention to make a contributor to the forum left out.
I don't know how long you have been invested in this stock ,but to my knowledge you have only recently started to post on here.
As I mentioned the other day although I fully understand why, although it is nevertheless sad that so many of the old guard have either thrown in the towel on Centamin or no longer post.
Long term holders of Centamin have had a long journey and on it have encountered many various challenges and set backs that normally would have made many investors throw in the towel.
However they were able to remain firm in their conviction that Centmain would come good one day, not only because they had faith in the management, but more importantly they had the support of fellow Centamin holders who between them provided a very considerable resource of investment experience and knowledge to draw upon.
It is very disappointing to say the least that the Cey former chairman and the board were not deserving of the shareholders faith, three years of glossing over the true facts at Sukari have been exposed, the drilling contractor ran the LHDR to destruction without any spares, the promised production never materialised and so the company has lost half a billion pounds in value, whilst the SP languishes on the shelf of Poundland to be poked about by the "bots"!
in the meantime the former chairman rides off into the sunset with his saddle bags full leaving the management supposedly led by an as yet silent ex ACA man?
Correct me if I am wrong, but isn't ACA the firm that is accused of not being honest about it's profits with it's partner/host government, polluting the local environment and employing thugs to beat up local protesters?
So on a day full of despair over the market manipulation, the price of gold and no reliable news of what is actually happening at Sukari it was great to be given some hope for the future by the post by Marmot, one of the most respected and trusted members of the Centamin old guard!

Rude.

Dazah, you are becoming more irrelevant and embarrassing,to your self as time passes.
Change your name and try again.

Plus my appraisal Mr T...I already said a relatively low value day. Total manipulation. Current TSE price £1.01p

Greetings and thanks. Just hang in there better days are coming. You deserve to benefit from any coming uplift more than most of us. We should all bear in mind what major gold investor Rick Rule said "your gains as a speculator/investor in the gold market are hard won". Amen to that.

Hi Marmot, thank you for your appraisal of the market situation it is very much appreciated and valued I am sure by everyone.

Most Centamin investors sensibly did nothing today. Today's volume at 2.6m was the lowest YTD and just over a third of the average daily vol of the last 3 months.

Gold is looking increasingly interesting, creeping up under the radar in a similar way and from a similar price level to last December. Will they try and sit on it ahead of the NFP tomorrow ? Maybe but if so I think it will quickly bounce back. The reasons for holding gold are moving rapidly from optional to imperative. Take heed of the advice of Ray Dalio and Stanley Druckenberg. A 5% portfolio holding of gold/mine shares is prudent. The US average is 0.4% and for UK investors even less than that.

January and February tend to be very good months for gold price rises. From Dec 2016 low gold rose $130 in 6 weeks to $1365 in Feb of this year. Arguably this 19/12 Fed rate hike is already priced in, so I am anticipating a similar move to lat year which may surprise on the upside because the uncertainties especially from the US just keep rising:

US rule of law: what is coming out next ? What of the political, economic ,financial impact ?
Democrats take control of H of Reps in January. Will they try to impeach Trump and obstruct government bills, budget ?
Bond Yield curve inversion this week- indicates a US recession on the horizon
US twin deficits are out of control now...and always shoot up in a recession. $ to lose market confidence ?
US-China trade war now full on after today's news Huawei CFO arrested in Canada on orders of US D of J
China retaliation : sell T.Bonds ? Stop/disrupt Apple and other high value China production ? Grab Taiwan ?
ECB end of QE 31/12/18
Brexit
Deutsche Bank : closed today at new low 7.70Euros
Italian Banks
Unpayable global debt

Each and all are gold positive and leveraged plays on gold like Centamin should do well in the chaos that I expect in 2019.

Blood in the market today so we should count out blessings also lads and laddesses.