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Yes Razor- hence my post on all others. Take out the Oct2020 and it's not been that bad relatively speaking.
Surely this cannot drop anymore, been in this for far too many years and the torment goes on! Thank goodness I havent been topping up in the last few months. Looks like I will be soon though,will it be another mistake, I sincerely hope not!! Best wishes to all.
While I totally agree with Mr Horgan's reasoning regarding why Batie West might not be the preferred asset to develop first (he cited Burkina Faso country risk) I implore my fellow shareholders to raise the issue of proper disclosure with Centamin Investor Relations a.s.a.p.
By the way Mr Horgan is speaking it does sound like negotiations could have already begun with Endeavour (or someone) for the divestiture of Batie West - this should NOT proceed until the full resource(s) surrounding Batie West have been disclosed.
Think about it - whoever buys Batie West will have Centamin as a neighbor immediately to the south as the Napelapara deposit runs right across the border into the Doropo resource in Cote D'Ivoire.
What kind of future planning is this? Perhaps selling the project to another miner who could raise capital themselves and take on the country risk is the 'zero risk' route but that is no way to protect the greater resource corridor we've already spent a decade trying to secure.
And that does not address the fact that NO maiden resource has been disclosed outside of the original Batie West concession despite years of drilling and tens of millions in spending.
Have your say before it's too late. email or call
+44 1534 828 700
governance@centaminplc.com
alexandra.carse@centamin.je
------------------------------>>>
look at the tweet & like/retweet as you see fit
https://twitter.com/DonLawson_/status/1418698287658401793
.@LSEplc & @tsx_tsxv listed miner Centamin needs to disclose its true #gold resources in Burkina Faso including 600k meters drilling in Napelepera & Wadaradoo before divesting Batie West.
CEO Horgan — where's the maiden resource?
@BloombergTV
@adsteel
@GuyJohnsonTV
@VonnieQuinn
There has been a change of messaging:
"Separate discussions would be held with the government in the event Centamin discovered economically accessible gold at a satellite site of Sukari, said Horgan."
Previously management had said the old agreement would remain (a 50/50 profit share) on the entire presently held 160km2 concession.
Obviously there are already a number of known satellite deposits ready to exploit all around Sukari — so very good news. The anticipation of a 'new deal' has probably been the main factor in delaying the development of these satellites thus far.
https://africanminingmarket.com/centamin-to-begin-gold-exploration-in-egypt-after-government-talks/10761/
Precious Metals
Exactly. Perhaps geologists don't make the best business managers?
I meant it was unfortunate for us as meant the share price halved, I was not suggesting remotely Horgan’s fault, grateful for his honesty and clear up but some don’t seem to have taken his necessary words entirely on board.
Sotolo, On the contrary it isn't unfortunate, it was essential that the management made it clear that Centamin would only make a small profit this year, it is indeed great credit to Martin Horgan for being so honest about the mess that was created by the behaviour of the previous management and the forward strategy that he was implementing to put things right on a sustainable basis for the the long term future of Sukari.
Indeed he is to be commended. as are the teams who who involved in the clear up of the upper and lower shop floor's at Sukari which through their efforts is at present ahead of schedule and should achieve better production efficiencies than originally thought at the clear up plans conception, that of course is subject to final confirmation when the clear up is nearer completion.
The very positive aspect of this clear up operation is that it is revealing some previously unrealised information about the geological state of Sukari which may well bring other benefits once more is known.
Far too many unknowns in the world to predict whats happening with the price of gold, but taking the time to have a good clear up to make Sukari easier and safer to mine puts Centamin in a better place to cope whatever fate brings.
Production might be lower, but that's only on a temporary basis, and at least we can be pretty sure its going to be considerably better and at considerably less cost in the not too distant future and possibly most importantly of all we have a CEO with integrity as well as professional; capability!
Hi Cherryburn,
I agree some of the "Spivsters" you refer to use many different handles on many different forums, some of them have popped up here from time to time, they tend to be the type that contribute very little of any substance, but plenty of chat about their past trading prowess and tell people to to stay on topic or move on, I suppose its distracting them from promoting doom and gloom when they were pushing a short on behalf of some big clients.
Some of the said "Spivsters " on T2W and ADVFN forum's although they change their handles when people start to get suspect!
As I have said before anyone can be whomever they want to be on this type of forum and even a one or two of those who seems to be the good guys are actually sowing the seeds of doubt, but they are masters of the craft and carry out their installing of doubt in share holders minds in very subtle ways that are most convincing, its still happening and will be on the increase now the results are after all in line with what Martin Horgan previously stated.
Looking back through old posts where you will find the clues that will assist you in reading between the lines of the posts of those who are certainly not really on our side or even
actually Centamin investors!
Unfortunately management made it perfectly clear that we would only make very small profit this year and next, (assuming gold doesn’t collapse further) and the figures being right on course to confirm this has depressed the share price further which is hardly a surprise. The second half ( full year ) in jan will be even worse, then we’ll be the bottom and we should pull out and ale obey again in 2023 if all goes to plan, unless gold collapses. As said the management couldn’t have been clearer or more honest
Close Bang on 100p.
Spivs are taking us down a bit more next week.
Harumph.
Jesus wept..
Its really quite appalling that companies like EZY are still getting a bid
Exactly! I thought exactly the same earlier today
Sure.
I'm hoping the gold bounce off the 20MA on the dailies at 1795. It had a quick double bounce 3pm and 3:30pm (UK time) and seems to now be pushing
Strong chart support at £1, double bottom in place if it closes above £1 tonight.
Shorts have had their fun, it's over for them.
If you have met some of the guys at Liberum , I guarantee that you would not want them as your broker. Berenberg is generally a class act and puts Liberum in the shade. Same goes for Peel Hunt.
I once thought owning cey shares was the equivalent of self-flagellation. I’ve now bought a hair shirt in order to increase the suffering!
Whichever company, they had 82p.
Hopefully it will hold 100p. Thats support, for now.
Liberum keeps Centamin at sell while upgrading easyjet to buy, really! Easy jet took out a 1.87 b loan, axed 4,500 staff, tapped shareholders for cash and sold dozens of aircraft. Liberum are having a laugh.
US$1,766 per ounce sold
Basic earnings per share ("EPS") of 13.5 US cents per share
Looking at 10% EPS currently, another takeover bid incoming?
yep
Berenberg and other's have been upping their targets whilst Liberum is pushing the short to 82p.
Date Broker Rating Old Target New Target Change
23-Jul-21 Liberum Capital Sell - 82.00 Reiteration
22-Jul-21 Berenberg Bank Buy 137.00 138.00 Reiteration
13-Jul-21 Liberum Capital Sell - 82.00 Reiteration
07-Jul-21 Berenberg Bank Buy 132.00 137.00 Reiteration
28-May-21 Berenberg Bank Buy 131.00 132.00 Reiteration
27-May-21 Peel Hunt LLP Buy - 150.00 Reiteration
27-May-21 Liberum Capital Sell - 82.00 Reiteration
22-Apr-21 Berenberg Bank Buy 126.00 131.00 Reiteration
All over CEY and the bulletin boards - fact is, from current levels, if gold bounces hard so will CEY.
Cey has now broke down through the ascending wedge.
Berenberg, unfortunately, will get their target.