Gordon Stein, CFO of CleanTech Lithium, explains why CTL acquired the 23 Laguna Verde licenses. Watch the video here.
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But does it taste good ?
Its usefulness is derived from a diversity of special properties. Gold conducts electricity, does not tarnish, is very easy to work, can be drawn into wire, can be hammered into thin sheets, alloys with many other metals, can be melted and cast into highly detailed shapes, has a wonderful color and a brilliant luster.
Equities in Europe traded lower in the premarket on Friday ahead of Germany, the European Union, and the United Kingdom's latest reports on their manufacturing sectors. Germany will also post its latest results in retail sales, while the bloc will do the same for consumer prices.
Earlier, Brussels halted its trade negotiations with Australia due to the rift between Canberra and France over the terms of the so-called AUKUS deal. Across the pond, the United States Senate failed to reach an agreement on the social spending package.
The DAX sank by 1.09% at 7:04 am CET. At the same time, the FTSE 100 declined by 0.86%. The CAC 40 fell by 0.97%.
The euro stood flat against the dollar at 7:08 am CET, going for $1.15789. A minute later, the pound sterling lost 0.14% to the greenback to sell for $1.34555.
Breaking the News / JR
Happy Friday y’al
Razors.. my take was different. He explained that the $300 million was split between $100 million rainy day money , the remainder set aside for capex and exploration expenditure , which would result in the cash reserves reducing to c $200 million ..
The dividend policy would remain in place and would be funded from operating cash flow from profits in that year. .
He maintained that the company could make dividend payments plus finance capex too...in other words he was implying that they could have their cake and eat it.
He then hinted that as surplus cash built up , it might be feasible to engage in M&A activity .which lit up my eyes, but then he went on to explain that as things stood there were few other opportunities around which might interest Centamin ... He did point out that the company would essentially remain a gold mining company . He also hinted that if the cash remaining exceeded what was perceivably required , then the extra cash would be returned to shareholders.
Jack be nimble, we should all consider the fact that gold has bugger all utility value, many **** off crypto for the similar reasons but fail to apply the same critical thought to gold simply because it is accepted, it was accepted that the world was flat for a long time, doesn’t make it true.
This stock is undervalued now so a good buying opportunity but don’t hold too long, the world changes & if the human race manages to survive for too much longer (undeservably) gold will become a relic.
Just a thought & probably won’t happen in our lifetimes but stranger things have happened so be cautious before betting the farm :)
Good returns to all
Bleary..the new CEO knows how markets work. Under promise and over deliver. "It's the way you tell it'. you can sell the under promise part as being prudent, cautious but achievable and then the subsequent over delivery part can be hailed a success , and the share price takes off
It always works .. you only need to look at the rapid fall of the share price , when the reverse happened last year
For those wanting to see one of the most exciting GOLD DISCOVERIES OF THE LAST 10+YEARS...(very few of these!)
https://www.youtube.com/watch?v=2iikY6964Eo&t=74s
https://www.investi.com.au/api/announcements/pdi/fd77fa78-685.pdf
Predictive Discoveries finally comes through, and what a fabulous ore system, and my bet is the system will grow past the magic 5 million ounces...!!! Ahead of myself, but the aroma's are very positive and a maiden resource of 3.65 m ozs,, in 17 months in these times in Guinea defies imagination, although the Geology has always been very good ....
best
the Gnome
I think the CEO is clearly a risk taker, however he does like to understand and quantify the risks before jumping in. I have no problems with that. One of the big negatives in the gold industry is the propensity of many of the MD's/CEO's, to jump in boots and all (using shareholdereds money and script), bid assets up, jump before measuring...etc
Some highlights form the last few decades ...
> significant impairments totaling USD 129 billion since 2011, as fallout of the previous MandA
> gold reserves have declined by approximately 26 percent to 713 MOZ, due in part to an approximate 70 percent
reduction in exploration expenditure as companies sought to preserve cash.
> the average price paid per ounce reserve in the period was often more than 300 percent higher than deals
executed a decade earlier
> 70 percent reduction in exploration expenditure as companies sought to preserve cash, and drive down the AISC
(so short term gain for long term loss)
> what money that has been spent on exploration has come up virtually dry of new tier one discoveries (and here lies another sleeping giant - all the low hanging fruit has been picked over, at least once!)...maybe 5 discoveries of 5+ M Ozs since 2005...and it looks like DOROPO IS ONE OF THEM!
This raises the uncomfortable prospect of a looming reserve crisis.
https://www2.deloitte.com/za/en/insights/industry/mining-and-metals/tracking-the-trends/2021/mining-mergers-and-acquisitions.html
No growth? I doubt it, perhaps listen more carefully to the presentation and consider history of the gold mining and exploration industry. The last thing the company needs is a risky CEO..they have been there and done that!! Learn and move onwards and upwards.
best
the Gnome
He said sub $200, but the thing that I picked up from the presentation was that the west wall movement was in fact only the potential for movement in the future, so the higher grade wall was closed down more on a whim. It seams that our new CEO cannot be concidered a risk taker so I do not see the company advancing strongly or quickly
Couldn't agree more Cowichan. I have never been impressed with Norm Baillie, and I am not alone. With the strong and rightful emphasis on robust Geology in exploration and mining, things had to change.....and yes, it does take a whole lot of time to clean the cupbord out, so to speak, and I think we are just about there.
BUT very impressive on the shareholder/owner communications, and really hope this continues!!!
> well structured
> content is excellent
> delivery excellent
> very clear sense of strategy
> very clear sense of priorities and action plans
> Very clear annunciation of future events
As far a gold mining companies go, this is an excellent start and first in class, and obviously a robust way of building investor confidence.
I like the way the team is looking at Doropo, and their description of the project, hurdles for projects etc gives me a lot of confidence. Backed by the Toro (now CEY) development team, this should fly. Did you pick up the fact that they had been heavy handed in CAPEX?
I think they could now build the assets into cash producing assets, which was always what they wanted to do...BUT you do have to have the right people in the right team to do this, Sounds easy? It is not!
All from your faithful correspondent in the colonies, but perhaps one last thing for those cynics and skeptics. A review of the 10 most powerful people in Australia has yielded the state premiers!....With the authority to shut down our biggest cities and keep millions trapped in rolling lockdowns (which they did and still are doing despite strong evdience that their strategies were not the best!!), the premiers of Australia’s most populous states harnessed COVID-19 fear and loathing to become the nation’s most powerful people in 2021. What a sad state of affairs in the Un-United States of Australia. Good luck to the next few generations, hope they can do a lot better than this mob, but they are starting the race with their 2 legs tied together and dragging a heavy anchor.
best
the Gnome
The weakest point in today’s presentation was Ross Jerrard talking about the $300m cash reserve/ dividend going forward.
My interpretation is he hinted that if the divi is to be maintained over the next few years that the cash res may reseed to $200m + divi.
Probably an over analyzation but they sounded like it is a possibility.
New Business Development manager (from February 2017 to June 2020) is now...
Principal Geologist at Nautilus (a division of EBDAA Egypt ) these two sister companies applied for several concessions in the last Egyptian bid round and won the 'Olymp' concession which is right adjascent to Sukari's adjascent concession 'Nugrus'
see map here: https://ebdaagoldmine.com/exploration/
So this must mean (based on his departure date) Centamin's top exploration guy aided EBDAA in picking out which concession they should bid on in Egypt while he was an employee at Centamin! No wonder Mr Horgan sacked him!
And it wasn't just Centamin's former Exploration Head but this guy too --> Mohamed El-Fazary : Centamin's FORMER Supply Chain Superintendent at Sukari !
see Bio's here: https://ebdaagoldmine.com/board-management/
When our CEO Mr Horgan talks about spending the last year or so cleaning up and putting the right people into key positions he isn't making an overstatement!
Going forward I would guess keeping staff loyal in Egypt could be an issue. We have a veritable gold rush going on - given Barrick, B2Gold, Altus and the others all eager to strike it rich...
As a side note - I really enjoyed today's Retail Investor presentation. Mr Horgan is representing our company well and I hope all the changes he brings will equal success as we start growing.
Further note - Mr Bailie is currently Cora Gold's Head Of Exploration - I suspect he doesn't get out in the field much these days but has more of an advisory (spy, mole?) role...
https://www.coragold.com/management/
Good point Halfpenny, I have in the past sat watching punters post they had received their dividend and as I deal through a broker felt I was getting typical broker service but the money did arrive (as you say) in a couple of days, so what if it takes a while so long as it’s coming.
Viable- it’s easier to widen the target area however it’s worth looking up the following all slightly different:
ATM (last RI 6p) good potential SACOR (RSA state company) in the past drilled extensively, so geology well known to mgt.
KAV in early stages of exploration a wild card, also has support from POW. Some others in the area have good finds.
ARCM interesting geology, failed to sell to AAL earlier this year, recent spike 6p on new drilling, there is a legal tussle too.
I do own all 3, and CEY, JAN, CORA, OMI, POLY, HOC, look them up and glance at the LSE chats for links and reading between the lines. GL
thanks halfpenny dividends not my thing 212 still not paid so ill give a few days then
Came in mid morning on Halifax and AJ bell. Gold is rising qell today and USD falls against major currencies...
Can take 2 working days though so don't push the panic button just yet.
Think the 95p is set up and in place now. Need support and can kick on the next few days - just need pog to hold, which I'm banking on it doing for the rest of the year.
Looking good - I think we may have our bottom for Gold ...
The g/f likes CINE too but I've told her to wait for 68p ;)
Recieved from Halifax
Barclays-still waiting.
still waiting for my divi on 212 anyone been paid on there?
Berenberg far more professional than Liberum in any event and looking forward to breaking up through £1 in the not too distant future. Dividend hit my KIllik account a short time ago.
Interesting comments in West Africa
Firstly review the value realised in the Toro, Mako Gold Project, 6 year mine life etc...US$274 m acquisition
https://www.rml.com.au/mako/
The Toro development team, has perfromance credibility in francophone West Africa, and now largely in CEY
Doropo would seem to be twice the scale of Mako...12+ year mine life etc
How much value has Doropo got on CEY market Cap?
Other development opportunities.... in their held ground....
Game on in West Africa
best
the gnome
My divi in now