Centamin PLC Share Chat (CEY)

Nothing from Alex but a reply from Buchanon

Deal

Thank you very much for the email. As you know, the management team has stressed regularly over the past couple of years the importance of returning cash to shareholders, with Andrew Pardey stating “Centamin is not a bank”.

That said, at present there is no plan for a share buyback although this is a matter for the board to consider. As you may be aware, the company does have the authority to activate a buyback programme as per the recent AGM.

The company will be issuing its interim results on Thursday 2 August and looks forward to providing further updates then.

Many thanks,
Chris

Re -Request to the Centamin Board for a share buyback.

Dear Alex,

In the light of the recent problems at Sukari and the subsequent drop in company value and share price many long term share holders feel that it is time that the management took our concerns to heart and supported the share price at every opportunity.

The recent production and geological problems at Sukari are very unfortunate, the effects of which are not only felt financially, they are also confidence sapping to existing and off-putting to potential investors , but this situation has presented a great opportunity for the company initiate a share buy back!

A share buyback now would send a clear message to the markets, existing investors and potential investors that the management board is confident in its strategy and for the long term prospects of Centamin and Egyptian gold mining.
The share price would certainly be invigorated benefitting the company and the share holders!

A new dynamism is needed from the Centamin management to restore the value and credibility of the company, the faith of the share holders, not to mention the future guidance for Sukari!

Yours Sincerely

Dear names
I have trying to understand more about gold mining methods and came across this study , I wondered if any of this is relevant to the methods employed by Centamin at Sukari?

Best

GENERAL PAPERS

A review of real-time optimization in underground mining production
http://www.scielo.org.za/scielo.php?script=sci_arttext&pid=S2225-62532013001200004

mizolgit - hi - Yes I'll go along with that. - Misinformation has been the order of the day here and shareholders are the victims. - Such actions and the people responsible should be called to account and if necessary be subject to criticism.. To raise such matters and make comments about them on this forum is quite in order in my opinion.

What have you got against Andrew a chap that has been telling the truth for so long, it's actually KWN website that is publicising the news.
Hedgehog , I don't know have you ever tried fighting an established but corrupt system where those that control it have vested interests to keep things as they are, it's very difficult.
Some choose to believe what the corrupt system wants them to because they are afraid to admit who is actually controlling things, how can it be fair that we are locked out of trading over a weekend and yet the big trading banks are able to carry on behind the closed doors and manipulate things up or down for Monday morning opening to the plebs?
Is that fair or honest market regulation?
I have seen support from regulators that confirm what is going and some politicians are afraid of the consequences when the lid finally comes off all of this which will be another crash.
However things are changing some uk politicians who are concerned will be raising the issue in the house for debate after the summer recess
If Andrew Maguire is so wrong all the time he wouldn't still be business or have the client base that he does.
Pushme seems to forget that those that are controlling the system are also very good sales men of the corruption and they use slick PR departments with unlimited budgets to control and pull the strings of journalists who are spoon fed info making life easy for themselves and keeping up advertising revenue from those who run the system at present.
Those that claim that the system isn't manipulated though such as pushme never produce any evidence to support their case?
Te CEO of First Majestic silver is certainly not a crank, he used to hold a senior position in the Goldmans and gave it up because he refused to go along with it any longer

http://www.dailymail.co.uk/news/article-5946135/The-world-running-GOLD-Mining-experts-warn-discoveries-shrinking.html

https://thedailycoin.org/

That may be true tibbles, but I’d like to see it anywhere but on Andrews website, ie mainstream press

Surely it is more important to concentrate on the cause our discontent..
The company is that cause.
They solely ,by issuing a report ,then completely changing in a few weeks is the cause,, as was pointed out yesterday.
That is not acceptable from "professional people".
I think Buchanon will try to cover this ,that's what they do.
So vent as much wrath as you wish at them., not that it will do much!
As long as it is clear to all here the blame is management, and let them cleary know their honeymoon period is over nothing will be done to change incompetence ,within the structure of the company.
Fighting between each other heer, though understandable,will accomplish nothing.
GLALTH

If this is the case it is not adding to gold demand. This gold that is already bought. Same as cash, everyone can’t withdraw all their cash at once then you get a run on the bank. However I really am not sure there is any evidence of a run on gold, and banks buying tons of it for savers who want to withdraw, and if there were the price would be rising. Occams razor again.
Andrew MaGuire like many gold salesman has said gold is about to soar for years. Instead it has remained much in line with inflation for a long time, and certainly last few yeats.
Oh it would be so lovely if Mr MaGuire was right and we were all suddenly very very rich, but in the mean time we are gently losing money as demand for gold falls.
Oh I so hope I am proved wrong but I fear you will be.

Pushme pullyou. Please could you then explain this if nobody wants gold

https://kingworldnews.com/major-alert-andrew-maguire-says-major-german-bank-just-refused-to-hand-over-clients-physical-gold/

“It’s important to understand that these cash withdrawal limits also determine physical gold withdrawal limits. It is the strictly enforced physical gold withdrawal limits that have our attention. Following at least 10 similar reports to us of banks refusing to deliver clients’ physical gold bars, this week a very wealthy client sought to remove 500 kilos of his physical gold from a German bank for safekeeping in a secure, independent vault. The bank refused delivery of his gold bars.

These refusals to deliver bullion are now resonating loudly enough to prompt something to be officially sanctioned soon. Cash restrictions are already in place, however, the problem officials potentially face is being forced to go to market to buy thousands of tonnes of gold bullion to meet the surge of requests to withdraw bullion. That is simply not going to be allowed happen as the bulk of unallocated exposure sits on the balance sheets of the too-big-too fail bullion banks…

Yes you are right all this talk of lack of supply and huge demand must be nonsense. In fact maybe gold is falling becuase of is lack of demand not lack of supply which is just what you would expect so well spotted Rebess and welcome to the land of Occam’s razor which say it is usually the simplest explanation that is true, in fact it seems supply is marginally up, but investment demand is down because of economic news and forecasts. this simple explanation would mean falling gold which is what we have:
Gold demand 2018 Q1 of 973.5t was the lowest Q1 since 2008. The main cause was a fall in investment demand for gold bars and gold-backed ETFs, partly due to range-bound gold prices. Jewellery demand was steady at 487.7t, as growth in China and the US compensated for weaker Indian demand. Central banks bought 116.5t of gold (+42% y-o-y). Technology demand extended its recent upward trend, growing 4% y-o-y to 82.1t. The total supply of gold increased by 3% to 1,063.5t, primarily due to a modest increase in producer hedging. Mine production was fractionally higher at 770t.

My kindest regards to you and your family!

As most of us already know, Siko works really hard to help the poorest and deprived children in Egypt. Any money that he made from investing in Centamin went to help these vulnerable kids. He is a vey kind and decent man who worked incredibly hard over the years to find out accurate information that has helped all of us despite the recent drop make a lot of money. Even though he had spent hours and hours finding information for us he felt uncomfortable mentioning his charity work. But i don't mind mentioning it. If anyone could help Siko's work and give something back to someone who has helped so many of us then here's the link. https://www.gofundme.com/2dj3maew

I saw the news of the big oil blaze at the airport,and wondered abut you all.
Kindest regards to all of your family.

Hi Siko,

I hope all is going well for you and your family. we wish you all the best and I hope to hear from you again.

GLTA,
Dan

which began with steel and aluminium tariffs, may end up having wider economic fallout. Photograph: Bloomberg via Getty Images
https://www.theguardian.com/business/2018/jul/13/trade-war-brexit-economic-effects-tariffs

As with Brexit, the economic effects of uncertainty over tariffs will take time to appear
Fri 13 Jul 2018 10.16 BST

Hi Sotolo
Goddbyee, don't cryee, there's a silver lining in the skyee.
Bonsoir old thing, cheerio chin chin, nah-poo, toodle-oo, goodbyee .:-)

Hi MrBond,
I'm fine and everything is going very well at my end. Thank you very much for asking about me.
I would rather not to explain why I decided to disappear from this BB, but I can reassure you that it had nothing to do with Centamin.
I hope the SP recovers and you all do very well.
Thanks again,
Siko

A man and wife decide to call it a day and apply for their marriage to be annulled. - Appearing in court the judge asks the man why he should grant the annulment. - The man replies: 'During the six weeks we've been married there has not been a single issue on which we've agreed. - The wife chips in, 7weeks your honour.

When you are unfortunate enough to top-up at bargain prices when it seems silly not to at the time and the SP continues to drop like a stone, it's only natural for frustration to surface.IMO

Some things are best not said in the public domain,n as one never know who reads them on the web, specially those who are employed to distort the truth or honest opinion.
It is a great pity that our old friend sinnerthesiant decided either to move on or not post any more, he seemed to feel that not enough was being done to resolve the court case.

Note on the Centamin website the role of Youssef El-Raghy Designation : General Manager – Egyptian Operations
Designation Time Period : Since January 2010
As an officer graduate of the Egyptian Police Academy, Youssef El-Raghy held senior management roles within the Egyptian Police force for a period in excess of ten years, having attained the rank of captain, prior to joining Centamin.
Mr El-Raghy has extensive contacts within the government and industry and maintains excellent working relationships with all of the Company's stakeholders within Egypt.

So no mining qualifications so I suppose he can plead some ignorance as to why the LHDR was being worked outside reasonable limits with no back up and he may not have known or understood the implications of the lower ore grades reported in 2015, so he didn't mention that in the media report of March 2018 but instead went along with The Sukari Gold Mining Company targets producing around 560,000 ounces of gold in 2018,,

But never the less,a senior manager/director drawing a big salary and benefits for his other local government knowledge,expertise and diplomacy skills, although he does not appear to be very successful in negotiating with all his contacts to help move along the court case which has been stuck in limbo for six years.

Especially when considering the extensive media coverage
EMRA takes $6.2M on profit account from Sukari Mine a coverage of how much profit is drawing out of the agreement https://www.egypttoday.com/Article/3/45628/EMRA-takes-6-2M-on-profit-account-from-Sukari-Mine
EMRA takes $195.1M on profit account from Sukari mine
https://www.egypttoday.com/Article/3/50539/EMRA-takes-195-1M-on-profit-account-from-Sukari-mine

I wonder if any other share holders are of the same opinion?

POG taking a hiding again. - All this talk of not being able to take delivery of the stuff, with long queues and three-month waiting times must be all nonsense. - Everybody knows that if there is a shortage of supply the price goes up not down.

A lot of talk about holes on here.

'Out of his hole to steal he stole
a bag of chinky chunk
Many a smirky smile he smole
and many a wink he wunk.

From my perspective.there is value and entertainment in all the posts. I love reading them, the comments, the angles, the education and so on and all in their individually differing styles. - I love the irony of posting criticism of those who criticise. - The BB's are where it all hangs out. A modern-day phenomena, ever evolving, providing pleasure, entertainment, education and valuable information.

Another good post but please don't go anywhere. It is folk like you that make this a great forum, especially for the many people who, like me, are long term holders but rarely post.

I can't say I've seen a great deal of nasty or rude posts. Maybe it's because they pale into insignificance when compared to the thoughts I hear in my head concerning one particular poster, that I've so far refrained from having a proper go at. He's the only one whose never-ending drivel has forced me to use the block filter. I just have to remember to log in when coming here.

You're one of four or five who make it worthwhile visiting this forum. Thank you for your contributions and long may they continue.

Spot on Sotolo - As they say to voice and opinion should invite (constructive) criticism not rebuke, or worse sledging. This is a trying year for all of us but my best guess is that, POG et al allowing, we will be back to 1.45+/- by the end of this year. I do miss Uncertain's posts, he/she has made some great PI calls over the years.

Hi Somnamna another article about falling gold production on kwn so it must be true (um) https://kingworldnews.com/this-is-going-to-create-parabolic-gold-moves-expect-5000-10000-gold/