Stephan Bernstein, CEO of GreenRoc, details the PFS results for the new graphite processing plant. Watch the video here.
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Tibbs why so negative it is an extra years gold doesn't mean they have to mine it at the end of the life of mine, it is called adding to the flexibility.
Paul sorry I can't answer your question because I haven't been directly involved for many years but if my old firm is doing their job then yes they will be badgering the production guys on a regular basis advising them on equipment needs to achieve the required production. I would hope the Centamin production guys are using the Cat dealers combined with Cat skills because the software that they run with is very powerful.
What gives me some pride is that they are running in the open pit with the same equipment size match and type that we originally recommended for the Life of mine.
It does look as though the relationship between Mantrac (Cat dealer) and Centamin is very good as they have added Cat to the new owner miner underground fleet.
What will be interesting is how they configure the 5 new Trucks as for some unknown reason they went with non Cat light weight bodies which is a big gamble and I hope this time around they go with Cat design Mine specific bodies. There is a lot more to the engineering than is first thought as very fine balance between taking weight out of the body and durability.
Something that could also be in their favour is a fleet of equipment coming to the end of it's contract namely Capital's fleet, already on site similar spec, still relatively young and operators already trained that know the mine layout (another flexibility plus).
Good grades are few and far between at Sukari open pit the icing on the cake is now the underground. The secret to 2024/5 will be more trucks mining the ore and less moving waste as ore is profit and waste is cost.
When I put sales forecasts together I liked to be conservative because my markets were so volatile and mining was one of my markets. I can fully understand Horgan and it is better to achieve and have the opportunity to over achieve than always be missing the target.
Yes for now, but Van Eck still hold 10.014 million.
The next time we will be seeing them is when they buy back,.
The end of years profit should be very healthy. And next year should be far better production figures.
Be interesting to see if they take up the option of Capitals machinery when the contract is finished.
This sounds as though they are struggling to come up with some good news!
Unfortunate to see Van Eck Associates selling as they are generally regarded as the good guys !
Currently + .73 % $2041.35
"The only important aspect of this announcement is the growth in Reserves of 0.5 Moz at Sukari, which adds at least one more year to the LOM. Just remember the discounted value of an additional year at the end of LOM is much reduced. Say, it extends the LOM from 10 to 11 years. The discounted value at 5% of cash flow in year 11 is 58% the value of the cash flow in year 1."
That's the seller out of the way...
Hi Dasut. I think you are right about scraping in at the lower end of guidance. I don't think Horgan likes to promise much as if you don't meet the figures the market reacts very badly. With the price of gold recently that should help with profits.
I think they were working on an average price of $1850 and I'm pretty sure we have been above that more often than not this year.
I sometimes wonder if Horgan holds something back "just in case", to help smooth any bumps?
There is something I wanted to ask you. Does Sukari have enough machinery to cope with any more material or if they dig more out, will they need more machinery? I suppose the best thing is good grades so you don't have to process as much material to get the gold.
Thanks
Reduce their holding from 10.014% to 9.620 %
Re: Centamin Plc - Group Resource & Reserve Update 2023,
On first impressions this appears to be encouraging news, however as I'm not a mining analyst I really wasn't sure so I asked someone who has the appropriate mining industry experience for their opinion, Please see their comments below -
"The only important aspect of this announcement is the growth in Reserves of 0.5 Moz at Sukari, which adds at least on more year to the LOM. Just remember the discounted value of an additional year at the end of LOM is much reduced. Say, it extends the LOM from 10 to 11 years. The discounted value at 5% of cash flow in year 11 is 58% the value of the cash flow in year 1."
Very good news it isn't often that you will add another years production in a 2 month period of exploration. the market however aren't interested as the majority appear to be using algorithms that don't read the fine detail.
My thoughts are that they will scrape in with the low end forecast production numbers but with a small profit boost based marginally lower costs and some good gold sale prices. You have got to live in hope!
I am with you on this Rebess, I am dreading the year end annoncement.
Centamin has a habit of snatching defeat from the jaws of victory.
Sadly good news (EDX, end of court case, increase in reserves) doesn't have a positive impact on share price.
Only gold price and ounces, so far shy of 500k and always at the bottom end of range.
Good to have positive news for a change although my jaded-Centamin view will remain on red-alert for now. - I'd like to get 2023 out of the way without an RNS informing of production set-backs. - A few days still to go. - I hope this isn't a set-up to cushion bad news. - Paranoid or what? :)
Yep- looks good to me :-). Here’s hoping market agrees Razor :-)
Https://www.marketwatch.com/story/centamin-s-gold-reserves-rise-significantly-063d10d3
I think there is a tremendous amount of sceptiscism in the younger generation, as to what the market is about, and just how efficient and trasparent it is....contrary to their reputation for being a generation of spenders – 43 per cent of millennials are investing their money, with property and shares revealed as the most favoured investments. And those that are going into shares are going into ETFs in a large way, with a minor investment into the Junior Exploration "Casino"..high risk bet on the winner in a sector full of losers and loose governance, with a probability of success of 1/10,000....they are not really that stupid, the ones I know, diversify well, are sceptical, ...
Used of things going up, sure process go up every day, and they are told inflation is 5 or 10%, what a joke...
The reason prices go up, is the value of the fiat is going down ... an they all get that very well. They look at the leadership in the government, and decide there is not much there to invest in, and the corporates tend to look after themselves first second etc ....
good luck go gold
~the Gnome
European stock indexes were in a upward trend during premarket trading on Tuesday, as investors awaited the release of the latest Eurozone inflation data later in the session.
The German DAX gained 0.12% at 8:05 am CET and the UK's FTSE 100 rose by 0.06% at the same time. France's CAC 40 was 0.23% higher while the Euro Stoxx 50 increased by 0.31%.
The euro was 0.06% up versus the dollar at 8:04 am CET to sell for 1.09254. At the same time, the pound sterling added 0.08% against the greenback to sell for 1.26565.
Baha Breaking News (BBN) / RR
Reserves increased by 28% to 7.7Moz, including 10% growth at Sukari versus new life of mine plan
https://www.lse.co.uk/rns/CEY/group-resource-reserve-update-2023-qamgt0f0kbgv2u1.html
This made a lot of sense to me. I like grant williams, whether you agree with him or not, he expresses his views very clearly.
https://www.youtube.com/watch?v=BHQpVMsm5d4
But then, it wouldn’t make sense to have sold off a tranche a few months ago. Let’s see, if anything, the whole play is interesting and there’s been plenty of trading opportunities over the past weeks.
There are restrictions on directors buys when in possession of facts that are likely to move the SP... just a thought... here's hoping it's the new gold.
Hi Dasut,
Thank you as always for sharing you opinion , which based on what we know of Horgan's past tactics and what operational information is available seems very reasonable and I am inclined to agree with you.
The board of directors have displayed little confidence in purchasing shares, since Horgan sold a lump of his own a little while back, at around 91p. I would have expected more action from them around the 75p mark, if news was looking good. But let’s see.
The mine works 24 hours a day and I believe for 365 days per year as not sure they even close for Christmas day given the very varied religious groups that are employed. Buster if you have visited the mine more recently than I you might be able to confirm or otherwise. By now I would suggest management will have a very good idea of 4th Qtr. production given only 13 or maybe 12 days to go.
Horgan taking time out to attend the talks in Saudi says to me that he is quite relaxed about the situation and maybe we will get an early taste of things to come when he speaks.
You need to visit the mine and you will believe in them Hills , Once the results come back we will go well north of here .
Gold price will take off as well next year as Yanks lower rates , Bailey talks bollocjks but will follow Yanks as no choice .