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Amun / Ptah: Detailed review of the geological database indicates that there is approximately400koz of inferred material located close to existing underground mining infrastructure in the Amun and Ptah areas of the underground. A programme is underway to upgrade the classification of this material with the aim of supporting an assessment of its potential for mining. Given this material's proximity to existing underground infrastructure, if ore delineated can be quickly brought into the mine schedule, not only increasing the reserve base, but improving operational flexibility with limited development costs. (This is where my 150,000 ounces I mention earlier comes from being converted from inferred to proven reserves).
Also signals Central Bank buying! Headlines Bloomberg commodities.
Now got to be a strrrrong Buy!! Spot and Comex just up. Good entry point in my opinion. My wife holds some but I need to buy as I sold sold some at last tax yr end to real back in my Capital gains for the year.
Gold over $2000 will sort everything out..and that’s where it’s heading...don’t panic & buy the dips.
Should turn precious metals to a higher level in half an hour? Fingers crossed. And that's before Biden's open wallet spending!
Lol. That is sure to fire him up CHRI55 !
Where are you? He used to post practically every day about CEY! Anyone?
Everyone has different strokes Mr Bond. That's the beauty of a BB. I post to be either agreed with or contradicted or told to shut up. Spendid stuff.
Every time this company has a blip, there is always a rush of new ,self proclaimed ,"Statisticians" ,explaining the reasons for the SP to drop even lower. ;-)
Strange. Lol.
Hi Sotolo. A very rarely watch the opening bell on L2 but did so yesterday and sold at 8:02 for 1.18956p . As I said , thanks to the poster who alerted re the ridiculous 82p valuation. I will wait for things to calm down.
Shanta looks as if its the only riser. Poly, Fres, Humm, HOC, Serabi, AAZ, Greatland etc all down. Centamin is not alone getting hit.
So frustrating to watch a month's or so profit wiped out in one day on what it seems to me was good/neutral news. POG at $1900 just adds to the frustration - we are basically at the same levels where we were when POG was $1670. Ridiculous. Does anybody have any idea about when the new licenses might be awarded. I think there were posts a couple of months ago with links to Egyptian press saying that there was a lot of progress in there. Don't know - really starting to thing that a bid with 20% premium will save us all from this misery.
Quite so Momo2058,
Although I heard yesterday that the Liberian comedian is working to an agenda, Mr Gnome has the firm summed up perfectly, in a perfect world certain facts wouldn't be know to brokers analyst's prior to official realise by the company, but with a company the size of Centamin and considering the number of "Rat's in the kitchen" in the past, not to mention how leaky things can be in Eygpt it would be naive to assume the release of this note was'nt part of a carefully planned and intended undermining of returning market investor confidence as a result of Martin Horgan's strategy for the future.
Unfortunately the distrust and suspicions caused by the years of Pardey and associates inept mine management,inconsistent performance and deliberate withholding of facts ,or even deceit of share holders and the market has made it all to easy to get a bad opinion accepted about the comapny, rather than a good one, Liberian have exploited this perceived weakness whilst they are able to for whatever reason.
Martin Horgans announcement seemed to be an honest acknowledgment of the state of the West African assets and his intent to concentrate on what is in the best interests of Centamin and dispose of anything that is'nt.
Tibbs
Thank you Mr Tibbs. Some may prefer a %age levy but we are where we are.
Personally it doesn't seem too bad.
All costs covered and 50% split of the surplus after royalties but no tax.
Sentiment changes fast, in my opinion the damage was done due to the ridiculous broker target and not the rns. Nothing is 100% regarding the asset in Africa. They might even oven ready it and sell it concentrating on new assets in Egypt. If they get licences for surrounding lands to Sukari that would be fantastic. All other brokers employ a buy rating much higher than today’s crazy price....it’s a good entry that’s for sure
Marybr190 understood but the topic is Fair Value SP not valuing a Company.
There may be similarities but the two are not same and should not be confused
Of course the Fair Value SP consists of facts + subjective / reasoned variables
It is a calculation from which a maximum, minimum and likely can be produced.
As Tornadotony and Sotolo have kindly explained
Nothing to do with Market Price.
Aha playingtheoods, maybe I bought the shares you sold yesterday morn, I payed 114.6
AS usual a well reasoned explanation. Thanks Sotolo.
The frustration is well understood and shared Palayintheodds.
I am well invested and sometimes buy and sell but tend to take a longer view.
Don't beat yourself up too much. It is very difficult to predict a banana skin event as happened this week.
Thanks very much Tornadotony much appreciated.
A sensible and reasoned calculation.
It helps tremendously to understand and gives credibility to your figures.
Also to serve as a basis for some "what if" calculations for Fair Price SP
It's burst back through the 50day EMA twice now. So frustrating !! Sorry to all non chartists but had to rant. I was lucky to sell yesterday about 8:05. Many thanks to the poster who alerted us all to the 82p farce following a less than encouraging update. Going to watch for now. I was so convinced to stay long. I will be back in at some point. Good luck all.
News is already in the market.
Based upon a long term price of $1750 gold per ounce.
1. Sukari measured resources at 7.45M last year. $125 x 3.725M on 50% conversion to reserves = $465M.
2. Indicated and inferred Resources at Sukari $60 x 2.75M= $165M
3. West Africa assets value at least $100M.
4. The company has $313M in the bank as of 30 March 2021.
5. Sukari Reserves are 4.4M ounces and with a full mine fleet and plant in place x $200 = $880M (50% depreciation of all plant and property is $400M value).
$1923M = £1354M shares in issue = 1157M = 117p
Liberium assumed no additional ore bodies which I fundamentally disagree and the company March issue said there was from exploration work done in Q1. Say it is a reserve of 150,000 ounces found over two years. 117p+ 2p = 119p
All Liberium has actually done is take last year published net assets and took last year sterling dollar rate at 1.35 instead of 1.42 and guess what you get 82p.
If he does there is talk of another USD6 Billion then it will be interesting to see if this has a positive effect on Gold prices -should do.
Perhaps then we will return to full value rather than a discounted one from what one analyst has said!
Thanks for the reply.Your comments make very good sense.Technically, a bounce around 110p is seeable.But with the negative broker comments and the steepness of the fall,one wonders if if it can build a base from here,from which to continue upwards.
It could well be a bumpy ride,at least in the short term.