Centamin PLC Share Chat (CEY)

Up and down all over the place today, hopefully finding new lows to break into 1900+ GLA

From tomorrow and "into the weekend" does not mean today. Judge it on Monday's share price.

Kando
Gold just sunk so that's your prediction out of the window

The damage caused by Brexit pales into insignificance compared to the damage done by the Governments deliberate policy of destroying the UK economy, hundreds of thousands of businesses and millions of jobs and of course half a trillion added to the debt pile. Massive profits made for the all ready super rich whilst Joe and Jane Bloggs loose their jobs and homes. Nothing changes.

Kando,
A deal was never possible because Boros and his chums want all the benefits of EU without being a paying member, whilst I could never support Thatcher she did negotiate an exceptional discount on the UK membership fee which made our terms the envy of many other members.
But Boris and Farage have never been honest about the benefits to the UK on being an EU, they peddled lies and innuendo to the masses and unfortunately out of laziness or frustration, even pent up hatred and racism they swallowed the lies and voted to leave.
So Boris and his clowns are now using the pandemic as a diversionary tactic but after January it will become apparent just how far back the UK has gone and just what a mess has been created by Boris & Farage, but they won't care because they have done very nicely !

I think it's fairly obvious to everyone that there will be no last minute trade deal, but for whatever reason it's not yet fully priced into the market, given that it still bounces around on the cyclical abandonment and resumption of talks. Come tomorrow, however, and the inevitable impasse reiterated in Boris and Ursula's meeting tonight, one might expect to see a decent rally into the weekend for both gold and this share. Over $1900 gold, and above 135 here.

Mr Gnome,
I think as far a Centamin is concerned" nefarious" evil or wicked is somewhat harsh true Pardey was somewhat devious, but I would agree that nefarious is an appropriate way to describe the behaviour of some some mining companies and certainly some governments and insurgents

Appreciate your morning update.

Major European stock market indexes were up during the premarket trading on Wednesday as the investors had little to distract them from the late-stage Brexit negotiations. British Prime Minister Boris Johnson and European Commission President Ursula von der Leyen will hold face-to-face talks later in the day.

Optimistic news from the COVID-19 vaccine front helped the traders shake off some of the negative sentiment caused by new lockdowns introduced across the continent.

The DAX gained 0.50% at 7:30 am CET, while the FTSE 100 advanced by 0.48% at the same time. In Paris, the CAC 40 jumped 0.62% at 7:29 am CET. The euro strengthened 0.31% versus the dollar, selling for 1.21453 at 7:30 am CET, while the pound rose by 0.26% compared to the greenback, to go for 1.33920 a minute later.

Breaking the News / BU

Happy hump y’al

That is right and very good news. Horgan also mentioned that there will be $90m non aisc Capex on top for the next three years, which is like an extra $200 on aisc, so I reckon it will be 2024 before costs are back again, and who knows what will happen by then. However I am thrilled that the board is concentrating on costs and getting $100m out, as these are a most important part of making profit. Of course most bosses start saying they will reduce costs and increase shareholder value. I am interested in the numbers and impressed about the increased clarity. Glad that was helpful Sirius, appreciate it. Sleep tight all..

I always worry when the cost breakdowns are not clear. To state the obvious something/s are hidden, and then the question comes, as to why?

The gold miners generally, have been only a whisker short of nefarious reporting of costs, which was one of the reasons for bringing in the AISC.
....so much money injected into the monetary system by central banks, hard to see the value of any decent hard assets decreasing in the near future.
cheers
the gold gnome.

Martin Horgan ha stated is committed to reducing AISC and increasing shareholder value, I believe he will do just that given the chance, worrying and whingeing about it on here will achieve nothing apart from possibly cause you sleepless nights!

I’ve been holding a leveraged position at 122 for circa 1 month now, so happy to have cashed that in today at 127, as I had higher short-term expectations when I opened that one. Still holding shares for long term however, and won’t be parting with those and will be monitoring closely.

Roger that Sotolo.
(Nice one!)
S

See below: it'd be really nice if Sharecast could get its facts straight, especially since Sharecast News is what feeds HL's newsfeed - either he's Bought or Sold!!!???

Centamin revealed on Tuesday that chairman James Rutherford had disposed of 100,000 ordinary shares in the FTSE 250-listed miner.
Rutherford, who joined the firm back in January, sold the shares on Monday at an average price of 120.10p each, for a total value of £120,100.
Just last week, analysts at Berenberg upgraded mining firm Centamin to 'buy' from 'hold' on Friday, stating the group's new mine had rebased their expectations.
With Centamin releasing a new mine plan for its Sukari mine in Egypt, Berenberg now expects production of 452,000 ounces for 2020 versus guidance of 445,000-455,000 ounces.
As of 1630 GMT, Centamin shares were up 3.09% at 126.80p.

Top Director Buys
Centamin (di) (CEY)
Director name: Rutherford,James
Amount purchased: 100,000 @ 120.10p
Value: £120,100.00

https://www.sharecast.com/news/dealings-round-up/director-dealings--7740710.html

It was the key question I emailed to the presentation, as there is a total Capex figure of which a large part should be included in the All in Sustaining Cost, but some is beyond. The answer he gave seems to be an average $90m Capex a year over and above aisc over the next 3 years which in simple terms means adding $200 an ounce to the Aisc cost. Then it is supposed to come down, but the key metric for miners is these costs which are alway supposed to come down again but end up going up more. It is why at the same gold prices most miners steadily fall in value, the big question is whether gold will rise faster than costs. I always hope so. At least Centamin is now clear about how much of the Capex they include in aisc so can work out true costs, defeats me with Hoc etc

The market is a forward looking instrument, golds starting to fly again , we all know that it will be approved and so does the market. No effect for me. If their is it will be temp.

Vaccine euphoria is now replaced with vaccine realism that it will take 6 months and many business failures to roll out the administration of the vaccine. In the mean time the printing press’s are getting turned on. Gold on its next leg up.

I knew this would be an easy ride to 135

Should be there by the end of the week.

It is more than likely to be used as an excuse to manipulate the POG, but even if the US approves the vaccine think of the problems they are going to have trying to inoculate so many people over such a huge area bearing in mind the low temperature storage and transportation requirements of each batch.

Annual average capex from 2014 to 2019 is $64m (according to TradingView) (2019 = $73m.)
Berenberg pricing capex at "materially above" prior expectations of: $225m in 2021, $195m in 2022 and $175m in 2023.
Obviously a significant difference of 4x.
What does this BB think is CEY`s BAU capex spend is (historical and moving forward)?
S

Hi Razor,
Many countries recognise the FDA as the main approval.. The MHRA is not known or recognised as high as the FDA in many countries (Egypt and the middle East for example are some of them)..
Also with Pfizer being an American company, so the USA approval is what other countries are waiting for.. The UK approval would not have a big effect..

Hello Siko Pfizer’s vaccine already in the U.K.

Covid-19 vaccine: First person receives Pfizer jab in UK https://www.bbc.co.uk/news/uk-55227325

USA is widely expected to approve Pfizer vaccine on Thursday or Friday, which could lead to many countries approving afterwards as many countries are waiting for USA decision..
Do you think this could have a very bad effect on gold price? Especially on the day of approval?

Not thick, just market manipulators that are onto a good thing!

Not thick, just market manipulators that are onto a good thing!