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Ken,
You may have misconstrued my, it was in response to another member who was puzzled why the share price remained at these levels considering the present POG.
Where is not for the astronomical contract costs of waste clearance and the other essential and long overdue improvements of the Sukari operation as a whole then no doubt the share price could easily be double!
As you refer to hopefully things should start to improve before too much longer!
Mr T
I have a stock list of all the gold mining shares that are available to trade on the UK market I made this list on my hl account so as to keep track of companies that produce gold.
The list was compiled on 5th march2021 which as you know was after the wall movement and centamin is the best performer over the period to today and is only down 14.3% and the only one that beats it is PAF.
FRES down 40.1% HOC 47.1% GGP 55.8% All the others are the dogs and are 50 to 80% down
So I'm a definite holder of CEY for the long term as the next 2 years I'm convinced will come good.
Centamin
Trading at 45.7% below our estimate of its fair value
Earnings are forecast to grow 12.11% per year
Analysts in good agreement that stock price will rise by 45.8%
https://shorturl.at/fpuCM
$2000 dollar and it does nothing.
Past month's performance:
HOCHS +23%
CEY +13%
SHG +8%
FRES +3%
Barrick -2%
Newmont -3%
SRB -12%
Confusing.
Bushy, for some reason (maybe Egypt's proximity to the whole Gaza mess), Centamin seems to be lagging other miners in the sector (see https://www.google.com/finance/quote/HOC:LON?hl=en&comparison=LON%3ACEY&window=1Y ). With gold near, or at, all-time highs in most currencies, one wonders what's holding Centamin back. 159p would appear a tad optimistic near term, but 120-130p should be doable when the market finally wakes up.
Major European indexes were little changed in premarket trading on Wednesday after Israel and Hamas reached an agreement to release hostages and, after that, pause fighting in Gaza for four days. Investors also digested the United States Federal Reserve's latest meeting minutes, which showed the bank intends to keep interest rates high for "some time."
The Euro Stoxx 50, the DAX, the CAC 40 and the FTSE 100 all traded flat at 7:20 am CET.
The euro lost 0.09 against the dollar to go for 1.09023 at 7:21 am CET and the pound declined 0.13% compared to the greenback to sell for 1.25201 a minute later.
Baha Breaking News (BBN) / NP
Happy hump y’al
How is this not back at 159 yet... Really struggling with 90p
Hi Pam,
What Tony has explained is absolutely correct, unfortunately due to the previous management being less than candid about the true state of the Sukari workings the market remains overcautious about believing in the new regimes achievements and so continues to apply a penalty discount to the share price until the predicted results are delivered!
So fingers crossed!
Hi Tony,
Events seem to be following the course that Andrew hinted at!
Kitco News) - Gold prices are solidly higher, hit a three-week high and are back above $2,000 in midday U.S. trading Tuesday. Silver prices are also posting good gains. The precious metals are seeing support from short covering by the futures traders and from some downbeat U.S. homes sales and leading economic indicators data released earlier this morning. Trader/investor notions of no more Federal Reserve interest rate increases on the horizon are also an underlying bullish element for the metals markets. Traders will closely examine this afternoon's minutes from the Fed's last FOMC meeting. December gold was last up $21.20 at $2,001.40. December silver was last up $0.256 at $23.87.
https://tinyurl.com/v4am39jf
Https://www.gold-eagle.com/article/gold-stocks-outperformance-begins-now
Hi Pam,
Centamin bad times involved issues of waste not being cleared up. A programme that began two years ago will be complete by June next year. Clearing waste added to costs and it is 80% finished and this will mean lower costs of production in 2024 for Centamin. The company also spent $50M from its cash to build a solar farm and so it uses 16% less diesel in production in future years also reducing energy costs. The company also completed $125M out of $150M cost reducing programme and the maximum benefits of this will be seen in 2024. The company has Nugris drilling results to be given soon and so a new Egypt discovery of gold is possible which and is located not far from the Sukari Centamin gold mine.
Gold Eagle news recently had an article which had the sentiment on gold miners at a rock bottom low of just 5%. in other words the market hates gold miners at present and that is the best time to buy them. Centamin and other gold miners are inexpensive on many stock picking criteria. Centamin gold production in 2024 is likely to be higher than in 2023.
Tony
Hi, I just read this and it seems as though it's good news, but as the share price has gone down today I'm not really that sure one way or the other?
Have a lovely day!
Pam
For many investors, the main point of stock picking is to generate higher returns than the overall market. But the risk of stock picking is that you will likely buy under-performing companies. We regret to report that long term Centamin plc (LON:CEY) shareholders have had that experience, with the share price dropping 22% in three years, versus a market return of about 17%.
While the last three years has been tough for Centamin shareholders, this past week has shown signs of promise. So let's look at the longer term fundamentals and see if they've been the driver of the negative returns.
https://finance.yahoo.com/news/investors-held-centamin-lon-cey-090015347.html?guccounter=1&guce_referrer=aHR0cHM6Ly93d3cuZ29vZ2xlLmNvbS8&guce_referrer_sig=AQAAAFQXvBbAXhx_E8YaTUe4gAROA_GeEOFp0Pe5lWCDKAhDz9uESTE057JBJaw7HFO1t0QNgptA1R8O0xL6fHapaBFH8KxHbgwpoBKwPeVpzE5TcSp7leLGoiRM5q9CbEp_Y5siX6PrOPmSlSLAV4SmoCV0nJBg7X8S-o3k8iapEs_b
1.1 million ounce deficit in 2023; shortfall continues in 2024
(Kitco News) - Platinum could start attracting serious investor attention as record industrial demand pushes the market into a significant deficit this year and extends through 2024, according to the latest research from the World Platinum Investment Council (WPIC).
https://tinyurl.com/46y5zd2b
Gold currently $1990.62
Major stock indexes in Europe traded mostly higher in the premarket on Tuesday as investors hoped to gain some insights into the United States Federal Reserve's way of thinking from the last meeting's minutes, which will be released later today. On the data front, the Swiss trade balance is on the agenda.
The DAX gained 0.21% at 7:55 am CET, while the CAC 40 rose 0.09% and the Euro Stoxx 50 increased 0.13% simultaneously. The FTSE 100 was flat at the same time.
The euro traded 0.17% above the dollar, selling for 1.09592 at 7:54 am CET, while the pound grew 0.18% against the greenback, to sell for 1.25288 concurrently.
Baha Breaking News (BBN) / AY
Gold $990.62 currently
Powell's dilemma
Federal Reserve Chair Jerome Powell will face a dilemma around whether or not to extend the program in March, said Gammon.
"Powell is trying to reduce liquidity in the markets to bring down inflation. What would happen to the rate of inflation if you let those banks fail? We would see disinflation. We would see a 1930s-type scenario. I'm not saying this is what he wants to do or will do, but I'm saying this is something that people need to think about," Gammon stated.
https://tinyurl.com/39efk2ht
Maguire might be right one day but he might be wrong.
Look at the "game changers" from the last few years. Kinesis and basel 3 . Not much has actually changed.
I'm with you MrBond----------Lets pray they choose re-valuation.
What Andrew says is exactly the same as what I have been saying for many years.
Sadly ,the only other alternative the US has apart from re-valuation is a huge world-wide conflict, the result being shortage of everything, including food.
Lets pray they choose re-valuation.
Tibbs I do find Maguire really difficult to follow but think his central message never changes - the gold price is being secretly suppressed by a FOMC conspiracy and is about to rocket in value at any second . Has he ever been bearish about gold or any other pm?
Just watched the update below whilst enjoying hot croissant's and fresh Cornish cream whilst looking out at St Michaels Mount through the rain!
Only 35 trading days until a possible gold revaluation.
https://rb.gy/vozxwz
Thank you Cooty!
Europe's major stock exchanges traded mostly lower during Monday's premarket session. Investors are anticipating data on German producer prices and Eurozone construction output. Market participants will also get the latest financial stability review released by the European Central Bank.
The DAX lost 0.08% at 7:45 am CET, and the FTSE 100 decreased 0.15%. The pan-European Euro Stoxx 50 fell by 0.13%. The CAC 40 was flat at the same time.
At 7:54 am CET, the euro improved by 0.07% against the dollar, selling for $1.09164.
The pound was 0.14% higher against the greenback to go for $1.24775 simultaneously.
Happy Monday y’al
Gold flat at $1981