Centamin PLC Share Chat (CEY)

Yes the price tumble 20% and more and it has stayed around there. In the meantime Hoc and Fres, both now digging lots of gold have fallen over 20% too, just over. A longer period, and other gold miners more. Many had already falling more than cey back in late May, which had some catch up to do, in my opinion.
It is not my eyes aren’t open, just that I see things differently to you and Tibbs
That is why there are buyers and sellers in markets, competing with opposing views to create a price.

I respect your views which are just as likely to be right as mine. Kinesis might take off but if I read it right you get 70% of an ounce of gold for 100% of the price, though maybe I read it wrong, and I am not at all keen on A.M who keeps calling soaring gold, though hopefully one day he will be right, and as Keynes would say, hopefully before I am dead. But maybe AM will suddenly turn out right and Kinesis will soar? This board in my opinion benefits hugely from multiple views with respect for, and listening to, each other.

I wonder where that mine might be. - Any ideas Cowichan? - If it's a Centamin project. - I'd be sending someone from Sukari to set it up initially. - It's a big job.

Some unnamed company is looking to build a West Africa mine from scratch - Globe 24 just dropped about ten positions onto their website including this gem...

OPERATIONS MANAGER - MINING
. Lead a multi-cultural mining team in an open pit operation
. Manage the mining department including mine engineering, geology, survey, geotechnical, hydrological technical work
. Manage the open pit operations contractor
. Lead set up of mining department
. Lead recruitment of mining team
. Set up all production and technical services procedures, data recording, storage, analysis and reporting
. Set up all quality control procedures and contractor performance controls
. Establish strong links to all departmental managers and be a key member of the site management team
. Ensure production targets are achieved in a safe manner
. Ensure risks are identified, controls established and maintained to minimize safety, environmental and business risks, considering environmental and mining legislation
. Develop department's personnel through on-job training and constant coaching
Manage the Operations budget

https://globe24-7.com/job-search/BBBH3281_153358864793050

Thanks Cowichan - Joking aside. - The snippets you've been posting of late are encouraging signs that there may be some sort of initiative in play. - They lift the spirit, so keep them coming if you can.

In the shorter term, production numbers are at the forefront and we need some pretty strong numbers to be coming through in order to meet the newly revised forecast. - In that regard, all eyes will be on the weekly shipments to serve as a clue/indicator. - Irrespective of what our opinions may be, the second-half of the year will tell it's own story, restoring trust or otherwise.

On 25th May, the day of the profit/production warning RNS, the SP cascaded dramatically lower over that day and the following two trading sessions, falling from 159,35 to 121.05 . A dramatic plunge of 24% in the blink of an eye. - Talking of eyes, to maintain such an event has nothing to do with todays SP, might be considered a bit short-sighted.

Ha! You just don't want me to get my hopes up (and then dashed!)
But I don't think we'll be disappointed this time around.
I can see an expansion at Sukari coming sooner rather than later...
Just imagining that solar power project being linked to increased power needs...

Hi Cowichan - Interesting info. - If they are serious about it and start to make moves in the next year or so, since it will require changes in laws and regulations our great-grandchildren might benefit. - I only put that as a might mind you.

Recently, Egyptian President El Sisi’s directed the Minister of Petroleum Tarek El Molla to commission Wood Mackenzie to prepare a report on how to improve Egyptian regulations for mining. Aton CEO Mark Cambpell told me that this was an unprecedented development over the 23 years he's been involved with mining in Egypt

The goal is simply to build a robust exploration and mining sector and hiring WoodMac big step in right direction. The Government announced,

"The project is being carried out in two phases. The first includes the work of diagnostic studies and the development of a strategic vision that ends in August 2018. The second phase consists of several operational projects based on the results and recommendations of the first phase, which is due to be completed by the end of next year."

In simple terms, Egypt stands to benefit by moving from production sharing agreements to tax and royalty along with other incentives for minerals exploration and development. They need to bring terms and conditions into line with the rest of the world to create an investment-friendly sector and do it as soon as possible. Mining bull markets can run quickly and it's essential that Egypt doesn't miss out completely on the next phase of the market cycle.

With the IMF involved in the Egyptian macroeconomy, it is essential to have mining industry experts involved in helping the government understand the mining industry. There are myriad issues to consider from taxes to a national geological survey to avoiding conflict with local communities and much more. WoodMac is the right choice for their job -- look to their recent success with Ecuador, where they helped guide transformational mining reforms.

You'll be pleased to know that the same team at WoodMac who helped Ecuador is now working with the Egyptian to overhaul the exploration and mining sector.

article continues here...

https://ceo.ca/@Newton/woodmac-to-help-the-egyptian-government-understand-mining

will become of this...

.'..Under the contract, Wood Meckenzie will study the mining sector in Egypt and lay out an appropriate development strategy by August....'

https://www.egypttoday.com/Article/3/45936/Petroleum-ministry-gearing-up-for-first-strategy-to-develop-mining

Wake up Pushmepullyou
This "Blip" was certainly expensive at half a billion ponds!,
Remember that cash pile has also gone down to £303 million!
The Kees Dekker report in 2015 made it quite clear that these lower grades would be hit in around three years time!
The claim that Kees withdrew his report because it was incorrect isn't entirely accurate, Kees asked Centamin for the statistics-to back up their claim that his 2015 report was incorrect.
Instead Centamin chose to break off the dialogue with Kees..
So Kees was unable to produce an entirely accurate and conclusive final report, which he later stated.
Yet despite the ore problems in Q1 the Sukari general manager was still trumpeting 260,000oz to the Egyptian media for 2018.
In the meantime back at Sukari the one and only LHDR on which so much depended to hit targets was working at its limits, without critical spare parts or even any back up!
The lower ore grades are very important, but they weren't the real cause of this avoidable catastrophe for which share holders now suffer, it was the complete failure of the so important poor old overworked LHDR that was the straw that finally broke the Sukari camel’s back!
Complete failure by the management to mitigate production risk, or slimly running things on "A wing and a prayer" to save a few quid?
Either way they are to blame and arses should be kicked and bonuses lost!
As to the gold price the management could if they chose get together with other mining companies to launch a consented challenge to the corrupt market manipulation of precious metals prices.
We need some management board members more like Keith Neumeyer CEO of First Majestic who recognises that this vile and corrupt Comex market manipulation is detrimental to the commercial viability of their mining operations and exploiting other countries natural resources and their people...
True diesel has gone up in price, (thank you Mr Trump) but the diesel subsidy case could be settled by now if there had been the will rather than complacency.
The share holders have been thrown scraps off the director’s top table and fed PR baloney for far too long!

point taken
I was looking at moves of PM miners' I know from their tops, so RRS around 35%, FRES 40%, HOC 50% OMI 80%, many of these moves have accelerated recently while CEY has only been falling slightly, and the fall from its top is similar to RRS even if more of it was in May and June, but often these shares play catch up

Hi Pushme - Yes agree a fall of 30% - But comparing with peers on LSE I think you'll have to calculate again
Over the exact same period, date for date: RRS -4% Hgm -18% POG - 0% ACA, although this is an oddball -7%.

To imply that the production/profit warning has had no impact is being a little blinkered I would suggest.

As said before the production fall was a blip that is now gone from the share price that looks forward.
You can put cey’s share proce fall from before the production announcement, around 30% to date, entirely down to the lower price of gold and mining inflation. This is shown by rivals having fallen as much or further.
Management sadly has no control over the price of gold or oil.

Sorry typo in title below!

Centamin's strategy is to maximise the value of our asset base and promote further growth of the business by:
Setting and delivering on challenging targets
Maximising profitability and maintaining a strong balance sheet to enable growth, exploration and acquisitions
Resource expansion and project evaluation in Burkina Faso.
Development and first production in Burkina Faso.

Trouble is the management will now struggle to even hit their usual quite reachable targets because some of the number couldn't be asked to mitigate the risk to underground production at Sukari!

I agree that directors bonuses should be linked to the company share price,and I made this view know to Alex of IR.

However it seems that instead Cey directors are instaedi commuted to something called TSR , total share holder return?

Quite how this TSR works when because of directors failure half a billion pounds is wiped of the value of the company?

Thing is Sotolo A. M. has integrity and is telling the truth, but those doing the paper manipulation have no integrity and control the markets.

At present the so caked regulators and custodians of gold market fairness are not allowing large orders for actual bullion go through it the buyer intends taking delivery ,instead they want the buyer to take a cash settlement with interest rather than delivery, why is that I wonder

So this makes getting hold of large tonnage very time consuming. asways have to be found around the obstacles put in the way of buying bullion.

of real gold down!

Still no manipulation in the gold markets then?

https://www.bullionvault.com/gold-news/gold-prices-080620182

"It still feels like a test of the psychological $1200 level may be on the cards in the near future," writes the Asian trading team at Swiss refiners MKS Pamp.

"But given how short specs are on Comex, we wonder whether a fall through that level will have legs or just be a good buying opportunity."

Latest data from US regulators say that hedge funds and other large speculators grew their net bearish position on Comex gold futures and options to a new series record last week, equal to a notional weight of 127 tonnes.

That 'Managed Money' position has been net bearish in only 15 of the 634 weeks since the CFTC began collecting these figures.

The average position among money managers has since early 2006 equated to a bullish bet worth 377 tonnes.

Hi Sotolo - OK - fair enough. - Considering the blue-print is a lengthy detailed document that takes some time to absorb and appreciate the unique opportunity that is on offer, you seem to have come to a very quick decision. - I wasn't expecting you to come back for a few days at least. - Also, really, it isn't about Andrew Maguire, but never mind, good luck anyway.

Thanks, have just done so, problem is I don’t ryaenAndrew MaGuire, and also still feel too exposed to gold with nearly 30% of my portfolio still in PM miners

Elected June 29 at the head of the Professional Coalition of Miners of Ivory Coast (GPMCI), Ibrahima Danso, General Manager of the Ivorian subsidiary of the group CENTAMIN, talks about the sector and its future.

Barely elected, you talk about a change of image, speaking of the bad reputation that is made to you. What policy do you intend to lead in this direction?

Forty years ago, when the mining industry began, it did not do anything for community development and was not involved in environmental conservation. It has changed, but this negative image sticks to our skin. Even today, some people say that community development does not interest us, whereas the mining industry is more and more concerned, as well as the preservation of the environment. But only a part of the population and elites can see it...

http://www.jda.ci/news/economie-financebusiness-2464-ibrahima-danso-les-miniers-ne-sont-pas-que-des-profiteurs#top

Hi Rebess, here's what's been sitting on the website gathering dust for at least two years...The first one is a joke, like when is the last time they set a challenging target?

OUR STRATEGY
Centamin's strategy is to maximise the value of our asset base and promote further growth of the business by:
Setting and delivering on challenging targets
Maximising profitability and maintaining a strong balance sheet to enable growth, exploration and acquisitions
Resource expansion and project evaluation in Burkina Faso.
Development and first production in Burkina Faso.

I encourage every one of us investors - especially the long term holders to email Centamin today . copy & paste this strategy if nothing else - ask them when we can expect some challenging targets to be set & delivered

info@centamin.com

alexandra.carse@centamin.je

Hi guys,

Based on the rising trend line, dont be suprised to see this trading in the 90p area. Gold taking a beating until the Fed reverses course on tightening. Trump's tax plan has extended the pain for another year.

IC View tip update

The share price, nearly a quarter of which is covered by net cash, is 18 per cent adrift of its two-year enterprise/cash profit multiple relative to peers. BUY

Last IC view: Buy, 126p, 30 May 2018

This is so cheap....💰

Hi Cowichan - I'd forgotten about that appointment but it actually falls into line with my thoughts on the 'Professional' management of the companies finances. - Since, so far, we've heard nothing about new ventures/new uses of company funds going forward, presumably he is still contemplating.

Hi Sotolo - I think Kinesis might be worth looking at from your point of view. - The only thing at presenttime is running-out with regards to the purchase of tokens. - Visit kinesis.money and if you're interested I can supply you with a link that will prioritise your purchase plus a 2.5% discount. - In the light of your investment style, it might be worth a look. - cheers