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Looking on the bright side at least with Centamin nearer the bottom it doesn't have so far to fall !
Hi Dasut,
I agree no magic wand could fix Sukari, but that aside if a few would be suitors expressed interest in buying out Centamin it may at least be a catalyst to invigorate the share price or at the very least encourage others to look at the true potential and value of Centamin.
Yes Steve, I tend to agree.
They have to keep their balancing act toghether to prevent more fragile banks from going over the edge.
Bidens re-election now on the horizon, which is already on a downbank path.
My view is FED will keep rate the same, with the same message "will do what is necessary" and hike again if needed- which will be unlikely. Will the markets interpret as hawkish or dovish? Place your bets...
More emphasis on short end rather than long end. Q1 2024 is end of peak issuance. This takes a lot of pressure off the equity markets as we run towards Christmas.
Hi Paul,
i honestly don't know. what I do know is though that it seems that those running mining companies , indeed most plc's always seem to do very well even in the bad times and do even better in the good times, despite being paid very handsomely they get awarded bonuses when tomes are bad and even more when tomes are good and all for just for what they are paid to do anyway.
Of course its not just industry now our chancellor Jeremy Hint who has frozen the income tax threshold for most ordinary people for the next six years wants to lift the cap off bankers bonuses, the very ones who who are usually responsibly for most of the financial crises and whom the ordinary people have to bail out time and time again!
Tibbs
Share prices lower today,though CEY holding up better than many.
FED utters at 2pm EST so early evening we should Know.
Hence traders will be on edge ,poor things ,all day.
Yes Mr T--they do seem a very long time ago. We have been bent over and shafted by the last lot. It shows that even people "In the know" didn't know that much. As with most people "in the know" and people predicting, they are right until they are wrong. I think of all the people and all the stuff that has been said on here , even the last few years ------and how often it has been wrong.
Maybe Dasut will step in with something a bit more positive after he reads the next bit?
Gold is hard to find.
Centamin found gold at Sukari and managed to mine it.
Sukari is still the 3Km bit, not the full 160km bit.
Law 32 is either forgotten about or just wont matter.
Therefore there should be the full 160km to go at when they want to.
I am assuming that there will be similar amounts of gold in the full area as the current Sukari area?
So should we be positive about that?
Hi Paul, fair comments , those times seem so long ago now and show how wrong one can be at times, especially when it comes to knowing who really has integrity.
Dasut also has a point about whoever took over Centamin as Sukari was in a bad state, but then Endeavour also has its problems!
The presentation was OK and they did try and tackle most of the questions (there were a lot!), although possibly blaming the market for the lack of share price performance is an easy ‘out’ and the value catalysts looking forward seem OK ,but not massively value changing, unless there are things yet to be disclosed.
Martin and Ross are well paid execs – look at the annual report and you will see what they earn, so they should buy when they can, but that said that they are so often ‘inside’ so it may be difficult for them to do that., or maybe what they see from the inside makes them want to keep their compensation in cash…who knows?!
It's nice to have a positive few on here Dasut.
Obviously we only know what we are being told, but it was the same with the last lot. Remember people were talking of "golden flip flops" , saying "Josef (joseph?) is an honourable man, "Good times are coming. Good times are coming", "Turning out cash like a demented cash machine" and saying they would not consider selling their shares for " less than £5"
So among all the gloom now, it is nice to have your view on things.
I would still like to see regular director buys though.
Major indexes in Europe traded with gains in the premarket trade on Wednesday as investors analyzed yesterday's reports on Eurozone inflation and GDP. In addition, market participants are anticipating fresh data on UK housing prices and manufacturing PMI that will be published today.
The DAX gained 0.38% at 7:24 am CET. The Euro Stoxx 50 increased by 0.35%. The CAC 40 was up 0.36%. The FTSE 100 gained 0.25% at the same time.
The euro was down 0.05% against the dollar at 7:28 am CET, selling for 1.05704. The pound lost 0.12% against the greenback and went for 1.21393 a minute later.
Baha Breaking News (BBN) / DD
Happy hump y’al
Tuesday 31 Oct 2023
Egypt lowers natural gas supply to fertilizer companies amid severe shortage.
The news came amid media reports that gas supplies to fertilizer companies had been cut by 30 percent. The news led to a sharp decline in the stocks of petrochemicals companies including Kima, Misr Fertilizers Production Co (Mopco), and Abu Qir Fertilizers (ABUK), which dropped 11.82 percent, 13.11 percent, and 11.49 percent, respectively.
El-Mahdy said there is no cause for alarm, suggesting the market will self-regulate.
“Affected petrochemical companies might have backup plans for such shortage. Also, the lower supply of fertilizers will result in higher prices so the profitability of these companies will likely double,” El-Mahdy added.
Egypt is suffering a severe shortage of natural gas supplies after Israel’s war on Gaza led to the suspension of gas supplies from Israel, down from 800 million cubic feet per day.
As a result, Egypt extended the duration of gas-saving daily power cuts -
many Egyptians complained on social media that power cuts are exceeding four hours -
Other users have complained of twice-daily blackouts lasting nearly two hours each.
https://english.ahram.org.eg/NewsContent/3/12/511318/Business/Economy/Egypt-lowers-gas-supply-to-fertilizer-companies-am.aspx
----------------------------------------->>>>
Let's see, major Egyptian manufacturers given the middle finger from government in the midst of a growing energy shortage - and saying to those companies they might have back-up plans? and if that fails 'be happy, you'll make double when there is a shortage of fertilizer to sell' is just ignorance on top of insult
CEO Horgan would be wise to read these tea leaves before trusting in Egypt's energy grid
So Tibbs what magic wand would Endeavour have used to get the mine back on track? The good news as I see it is that Horgan and his team are close to the end of their 3 year investment plan and on track to get the mine back to generating cash.
Guess as I have said before we will have to wait to see if we are close to coming out of the dark and the next three months will be the next start hopefully of getting back on track .
Horgan said it often enough "Exciting" "Fantastic" hopefully we will be agreeing with him in the not too distant future.
Fine talk ,but I'll wager that Sisi won't be in the front line he will be leading from the rear!
"If nothing else works, a total pig-headed unwillingness to look facts in the face will see us through!"
https://www.youtube.com/watch?v=rblfKREj50o
Nor will Israelaes dare cross that border.
No.
2023-10-31 | 05:58
In a resolute statement from Sinai, Egypt's Prime Minister, Mostafa Madbouly, affirmed the nation's unwavering commitment to protecting its land and sovereignty.
He declared, "We are prepared to sacrifice millions of lives to ensure that no one encroaches upon our territory."
The Prime Minister reaffirmed that Egypt will never allow any imposed situation or the settlement of regional issues at its expense.
https://www.lbcgroup.tv/news/middleeastnews/731828/egypts-prime-minister-from-sinai-we-are-ready-to-s/en
-------------------------------->>>
Egyptians, ever the masters of hyperbole.
However, the important question is, whose millions of lives are they willing to sacrifice? Palestinians, Jews or Egyptians? An aptly creepy statement for Hallowe'en -
I listen last night and all looked good apart from the rationale for the dire SP.
It's "jam in the future" but the future is getting ever closer and is consistent with what has reported thus far, so good.
My first question 1) was confirmed as "will meet" but detail as to how which was disappointing
My second question was also partially met, eg 80% through, although I can estimate at the rest of the questions based on the project AISC drop
I gave feedback at the end of the webcast as they requested, this was my feedback "The reason the SP is so low is because the costs have risen faster than the gold price has due to inflation pressures, and production is yet to get back to the 500k. Futures look good and in control though- just would have liked these reasons and not geo political and mid cap stuff which doesn't seem correct to me."
On Jan 20 Centamin is likely to announce gold production of around 130,000oz and revenues potentially in excess of US$250 million. (130k x 1900 = 247million). At that point 83p is going to start looking absurdly cheap.
Tibbs, electricity from the grid is close to half the cost of diesel generation on site. The 40-odd million buck cost of grid connection will be recovered in just over one year - ONE YEAR.
Sukari will call on it most at night when load demand from the rest of Egypt is low.
In the case of power outage or blackout they can revert to diesel generation anytime it's needed.
Grid connection is a superb development and absolute no brainer, it cannot happen soon enough.
I don't mind "boring" if the results start to pick up along with the dividends and the share price. I'd much rather that that what the last lot did. Wasn't there a special dividend one year which took the dividend up to around 12p? While it was a nice dividend to have, the money could have been put towards keeping on top of the waste. I'm guessing the reason it wasn't, was because the high dividend suckered people in, the share price climbed and the last lot did one with lots of quids in their pockets.
As I've previously mentioned, Martin Horgan is going to a lot of trouble, with opening up the mine, new trucks and solar.
Maybe it is a cunning plan to switch from mining to producing electricity from solar? ;-)
Excellent post Tibbs, I think that sums it up perfectly, perhaps it was the wrong move being against the takeover, I cannot see how it could have been worse for us!
RE: Berenberg raise target price to 173p23 Oct 2023 06:47
More detail this morning from Berenberg on Citywire:
Https://citywire.com/investment-trust-insider/news/expert-view-aviva-moneysupermarket-gb-group-firstgroup-capital-ltd/a2428592?re=114049&refea=218441
"Don’t ignore Capital’s investment portfolio, advises Berenberg
With the gold price at $2,000 now, PDI shares rose 6% overnight to A$0.245, which is its highest for almost 2 years and getting towards its highest ever level from around that time.
At current exchange rates that's worth £18m against the £148m m/cap:
Https://www.asx.com.au/markets/company/pdi
Allied Gold's shares have also bounced 14% to C$4.80, so this holding is worth another $10m or £6m.
Pity Centamin share holders don't get some uplifting news instead more of the same old boring spin which if it were a meal would be described as "Bland!" at best!
Major indexes in Europe traded flat to higher in the premarket on Tuesday in anticipation of the newest reports on Eurozone inflation and GDP. Heading into another day full of earnings reports, BP, Stellantis, and Caterpillar will also reveal their results for the third quarter in the coming hours.
The DAX gained 0.12% at 8:03 am CET. The Euro Stoxx 50 increased 0.18%. The CAC 40 and the FTSE 100 were flat at the same time.
The euro was down 0.07% against the dollar at 7:58 am CET, selling for 1.06081. The pound lost 0.17% against the greenback and went for 1.21489 at the same time.
Baha Breaking News (BBN) / DD
Wish we were only down as much, from the highs Cey is down well over 65%, the free cash flow is now a trickle and the dividend is table scraps!
Possibly Endeavour will make a bid again!