Centamin PLC Share Chat (CEY)

Which one, the outgoing or the incoming I wonder, they are both very quiet at present?

An amazing effort by our team in #Centamin Chairman’s Challenge marathon (Egypt), they came 2nd in a time of just 18.15 hours (avg 13.2km/hr!). The 240km course begins in Edfu and finishes in Marsa Alam. Every team member ran a minimum of 25km, congratulations to all participants

https://twitter.com/CapitalDrilling/status/1062179580180484096

Can you believe it , this is the 15th conference of this group and what exactly has Egypt achieved! One mine which they then allowed a criminal to throw under a legal bus and couldn't be bothered to even call for an ambulance despite this one mine contributing more than 3% to Egypts gdp. Al-Sisi opened the 15th Arab International Conference on Mineral Resources and its accompanying exhibition, which will be held in Cairo for three days under his patronage. The meeting will be chaired by Minister of Petroleum and Mineral Resources Tariq Al-Mulla under the slogan "Mining Investment and Economic Development in the Arab World" . Minister of Petroleum and Mineral Resources Tariq Al-Mulla stressed that the presence of the Sisi president and his sponsorship of this important regional event for the mining industry on the land of Egypt reflects the support of the State and its interest in the mineral wealth sector. And a clear vision in recognition of the importance of this sector. Minister of Petroleum and Mineral Resources Tariq Al-Mulla stressed that the presence of the Sisi president and his sponsorship of this important regional event for the mining industry on the land of Egypt reflects the support of the State and its interest in the mineral wealth sector. And a clear vision in recognition of the importance of this sector https://www.vetogate.com/mobile/3364059

Yes, you are correct.
This non logic has been going on for years.
😂

The FTSE is riseing on the brexit deal cey is dropping just wait the deal will be rejected in the House of Commons FTSE will drop and cey will rise again that’s my take on it .timeing now is the key

Great to hear from our old friend Siko again and to hear how well his charity work in Egypt goes!

Good point Rebess!
It is situations like this that the https://www.sharesoc.org have been fighting against and some on here may recall I posted a link to a recent campaign to give ordinary shareholder like us the same right to vote on important issues as institutional share holders have at present.
This was supported by supported by the EU but the UK government were not interested, wonder why?
i actually wrote to the Centamin company secretary (twice)asking if the CEY board would sign a letter of support to our UK parliament, I received no acknowledgement or any reply!

https://www.abc.net.au/news/2018-11-22/engineering-firm-rcr-tomlinson-goes-into-administration/10544980?fbclid=IwAR371-sscg2xSHIb2ivFUzzJeEe4av_Qcf0S7FBRLJxPWQ7yFJ_4JzmvJn0

Everything hunky-dory after cash-raising rights issue. - Within a few weeks, guess what? - Now where have I come across this 180degree news before?

With the cost of oil dropping back down I’m guessing our AISC target will be much more achievable if not lower than expected? Can anyone recall what % of our AISC is made up of oil/petroleum? I’m sure I’ve seen it somewhere but I just can’t find it! Cheers.

Good job Rebess!

It would be nice to know what Oct. production figures were.

Cracked it :-)

Gold @ $1200 per oz. - AISC of $775 per oz - Profit of $425 per oz x 48000 = $20.4m
= $9m to them (45%) $11m to us (55%) - near enough.

I've got it I think. - There must be a month lagging in payment. - So, the Oct. payment must be profit on Sept. output.
It's gotta be don' yer think?

I think it more likely that 5 mil in Oct and add sep that would give the 9 mil figure

Hi siko - Many thanks for your post giving us an overall insight.
Regarding us doing the maths in relation to your figures :
In Sept. $4m was paid to EMRA on the back of a production of 48,511 oz
Oct. $9m was paid.to EMRA - Pro rata this would equate to production of 109,150oz - Extrapolated to annual output at this rate would = over 1.3m oz - I think I must be looking at it from the wrong perspective of production/profit. - Any thoughts anyone.

I join my voice with the rest in thanking Siko for his humanitarian work in Egypt - simply amazing!

Also, the profit share numbers & mining law update he has kindly shared are most welcome news...

Thank You Siko!

Thank you both for your positive posts.
I find it amusing that I tend to reach/recomend words of encouragement when the stock is getting knocked back.

My own observation I’d like to point out is although the share price has declined 3.66 % today the share price is in off its lows of a couple of weeks ago and is indeed in recovery mode.
AtbA

Look at the attached. I would say that Wall St stocks are in the "complacency" position while gold and gold producers like Centamin are in depression. I feel that a stealth rally is building in gold miners and very few holders realise. For the first time since H1 2016 headwinds are turning into tailwinds. Gold and miners couldn't get traction when the stocks momentum for FANG and tech were always rising over the last few years except for the 6 months H1 2016 gold romance .

But the end of QE, rising int rates, reducing buy back programmes, trade wars and overvaluation eventually burst a few bubbles all at once : bonds, property, stocks, even FANG stocks. For once it is the US's turn to catch down to the rest of the world which is already in correction mode but I suspect their overvalued markets will have bigger declines :

Shanghai index -22% YTD
German DAX -13.6%
Ftse -9.5%

Wall St's bubble has burst almost a year later yet the signs are that there is much more to come. Despite Nasdaq still +1% YTD it is already -14% from the high of the year. The S&P is unchanged YTD despite all of its stock buybacks - the very definition of a misallocation of capital when in the coming recession and companies have no funds for new plant or acquisitions. DJ is 1% down for the year. The path of least resistance looks down.

Gold and quality gold producers will transit from being optional investments to essential in the next rotation.Centamin's trading over the last two weeks is strong evidence of accumulation before the rush. Centamin will be the largest primary gold producer on the LSE as of February when Randgold is delisted which will bring in new institutional investors.

https://www.google.com/url?sa=i&rct=j&q=&esrc=s&source=images&cd=&cad=rja&uact=8&ved=2ahUKEwiz7Yar0ureAhVCQ8AKHTkeBvUQjRx6BAgBEAU&url=http%3A%2F%2Fwww.onemint.com%2F2010%2F06%2F30%2Fwall-street-cheat-sheet-psychology-of-a-market-cycle%2F&psig=AOvVaw0Dmp33WQLqytQICVIDV17z&ust=1543066912635944

Thats really great news siko, the difference that you and your friends are making to the lives of these children is incredible. It really is heartwarming to hear about the work that you are doing, please keep us updated when you can. And thank you for the news regarding the payments to Emra, I've been trying to find the shipment details for this week on vitogate.com with out any success. With a 9 million payment for October things are definitely back on track. Regards spot 64

Many thanks as ever for the information, Siko. And thank-you again for the charity work that you do.

Many thanks as ever for the information, Siko. And thank-you again for the charity work that you do.

Your charity work is admirable you are without doubt precious in this horrible politically controlled,militarised world..

Thank you Siko, your information is important.
It seems government and decisions are moving in the correct direction. .
Again many thanks for your information,and as always ,all the best to you and all your family

Just came back from Egypt after another successful trip. As I told you earlier I got to know 2 great people, we are working together now, things are progressing quickly at our charity work and its getting bigger and better. Today we opened a kidney dialysis unit in a poor remote village in Upper Egypt where children with kidney failure used to travel a 6 hrs return trip three times a week to the nearest hospital.
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Regarding the latest from Egypt,

https://www.youtube.com/watch?v=zuAe4mR-IkY&t=675s

Egypt is hosting a mineral resources conference 26-28 Nov and president Al-Sisi will be attending. The petroleum minister held a press conference (Youtube link above, but it's in Arabic), the relevant parts he said were:

The only mine we have in Egypt is Al-Sukary, it's working well and moving in the right direction .
All the other mining investments are not doing well, we don't have any new investors coming in, so something must be wrong.
We are working to change the mining law. We are flexible and could adopt the best schemes in the world, but we have to look at what could work in Egypt.
No point of talking about the details of the new law now as it's up to parliament to discuss it, amend it and approve it. The proposed law is with the council of ministers now then will be passed on to the parliament.
The 4 companies that won the auctions last year have not finished their paperwork yet, so now with these amendments to the mining law, we have not decided yet what the final situation is going to be with those agreements because the companies were late in submitting the required documents.
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As to Centamin, I'm always in contact with the people that I know at the mine. Things are going well and production is definitely moving in the right direction.

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http://www.rosaeveryday.com/News/233360/-

Centamin paid EMRA 9 million US dollars for its profit share in October.
May, June and July payments were around 1 million each, August and September payments were around 4 millions each, and now October is 9 millions.
Someone clever with Maths could guess the possible production figures, bearing in mind this is the 45% EMRA's share, but as you can see the figures are progressing well.

Regards,

Siko

In the USA,
Gold seems to be holding ground for the moment and CEY late trades again very encouraging. things are stabilising,with some reasonable production figures and the possible change in the mining sector ,overall everyone should be feeling the future is very good.
Although not dusting off the golden flip flops yet.

GLALTH.

miz