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Most likely to meet prod as expected, and we also expect news on licenses this month but may not be in the RNS. Yes, we are all nervous before an RNS- our positions are set, so fingers crossed and good luck everyone!
Hi DaggerMal,
I like to think it is just nervousness ahead of tomorrow. After October's awful news I know I held off buying today out of fear of a repeat even though I was really tempted.
Let us hope that tomorrow we get a double lift: good news and a boost from no bad news.
Best wishes,
Prof
I think it will be a great day tomorrow in fact I have put an order in for tunnocks.
What's the mood music for tomorrow's update?
What are we expecting news wise? Pit wall update? BFaso?
Or is the update tomorrow more results based, rather than wider strategy?
Hope you're all well
DaggerMal
Bonker99
Yes, I agree with you. My query was with FireAnt. Why wait for gold to hit resistance before buying your shares? If you were a trader, you'd be buying shares now and selling them at resistance, surely?
Anyway, it wasn't me who put that big order in at the bell - some hope!
Regards
Aoife
Am I alone in being a tad disappointed with lack of sp movement today?
I'm happy to be educated as to why. Thought we may be around 1.17- 1.19. But hey ho its a slow race. Hopefully the coming weeks and tomorrow may help( or hinder@!)
DaggerMal
C$1,825 is the Double-Bottom target from the c$1,680 low so it's reasonable to expect it to be hit and then who knows after that.
This is all small beer of course - I'm looking for anything from $2,200 - $3,000 in Q3.
I don't quite understand the logic behind that. I think $1825 will be the first big resistance as it was a large accumulation on the way down. Hence, weaker hands shedding shares just thankful for getting their money back and being out. Then having regrets a few weeks later when the shares are well up and holders getting the nice dividend.
I could be wrong, of course. Time will tell.
Aoife
One day when I grow up I'll also be able to buy £959k worth after the bell :)
I feel gold just needs to get rid of these weaker hands at around the $1800 mark. It shouldn't be too long to see them out of the way. That's what I'm thinking, anyway.
A
Very nice, ElProfessor. Apologies - price paid just under 114p - just updating my chart.
A
Arfur,
You just tempted me to go and find a Tunnack's caramel wafer, albeit more in hope than expectation. Amazingly I found a stray one at the bottom of the cupboard that Professor Jnr and Professor Minor had missed on their last ransacking.
Yum, yum!
Prof
Arfur,
How was the Tea Cake?
Prof
Just added 10% to overall holding - nabbed just under 113p. Those must be short term - after ex div otherwise I will be so overweight Centamin. Mind you, if they keep rising, I may wish I added more. I've been know to change my mind.
Anyway, such courage deserves a Tunnocks Tea Cake at 3. Now, where did I put them?
A
Thanks Dasut, just so
Sotolo OK get what you are saying and this is entirely why I say how important the ounces are and as far as Centamin Sukari are concerned this is dictated by grades and more ounces pretty much means more efficient use of the equipment and this means costs reduced.
When making recommendations on equipment fleets the mining engineers will get deeply involved with the equipment manufacturer's representatives and the aim should be to achieve the lowest cost per tonne.
Sukari has to be all about efficient use of all of their assets and the hole that current management are currently in is they struggle to maintain efficiency and therefore consistency because they don't have the flexibility of numerous "faces".
My hope as you mention is that the unstable wall has been over stated but more so that the time and cost to get back to the annual 500,000 ounces plus has also been exaggerated.
There have been some major decisions made by the new management team over a very short period of time one being the introduction of a contractor dedicated to waste removal or opening up additional "faces". Any contractor worth their salt will be looking to impress and if they are working on a tonne moved contract then it is in the contractor's interest to impress.
What I also like is that there is now an additional fleet of equipment on site at a known cost based on performance and allows for growth if required at a later date to utilise and quickly mobilise this fleet for mining the all important ounces, at Sukari or open up a new concession area.
Tomorrow's the day :-).
I recall on the last web call, there were no prod issues and inline with forecast, and there wasn't much of the Q1 to go at that time- you can see the date of this call from the RNS
Gold Price is going to sustain between 1800 and $2000 if not major fluctuations upwards. Average realised Gold price to be achieved around $1817 in 2021.CEY and POG are worth around £4 billion
Also agreed Mr Bond!
Agree Somnamna,
Even the MM and some analysts fail to regard free cash flow as seriously as they should!
Indeed there is a general lack of understanding that t's all about the free cash flow in which Centamin excels above so many of the other miners that less well informed and researched investors get caught up in!
Well said Sotolo of course ounces matter but Free Cash Flow is the ultimate measure. The one cannot exist without the other. We need both ounces and an AISC + non sustaining CAPEX at an acceptable level.
Sorry Dasut I was trying to reply to your post yesterday when you wrote that ounces were down but not profit so our share fall was mostly due to PR mismanagement and we should be far closer to £2, by saying I didn't mind about ounces but the increased costs meant profits would be halved, explaining the share price fall, although it should climb back up with expected return to full profitability over the next two years. However I am also sorry if I didn't phrase that more clearly: many concentrate on miners' ounces as with other companies they concentrate on sales, however I think that costs matter even more as if the costs are more than sales then the more a company sells the more it loses. Same with quantity of ounces mined though of course increased ounces can increase efficiency but not necessarily and fewer ounces lead to higher costs. Part of Cey's problem now is with the wall fall they are mining more expensive ounces as well as costs being spread over less of them for now, but our costs look like they will be much higher this year despite cost cutting measures, hence the price. Taken to extreme I once had shares in a goldmine in which it turned out that costs were higher than the MD said and the company went bust as they turned out to be higher than revenue. In quarter 4 Cey had an aisc of $1613 an ounce plus was spending more on non aisc Capex so making very little per ounce, so even with quite a lot of ounces was doing terribly, this year costs should be about $1400 per ounce inc Capex, which means last month we were making around $300 an ounce compared to $1000 last summer. Therefore it is not ounces but profits per ounce that I really worry about, in Centamin the increase costs are a greater reducer on profits than the reduced ounces hence they matter more, so I am not worried by Centamin reduced ounces but their much increased costs although I know the two are connected, and I will have my beady ey on the cost on weds morn as ever. However thanks for your post they are always informative and helpful even I think if our profits will be down a fair bit more than you and I hope you are right that they overplayed the wall drama and will give us some much better figures on Thurs
Sotolo I am sorry but ounces mean everything to me and the cost per ounce moved even more important as without a sound base and cost effective mining operation there is no business.
That is a complete load of baloney to say the ounces don't bother you and yet you are concerned about all AISC?
Of course you could have AISC of zero if the mine shut down and produced zero ounces and you would be happy?
Sotolo
Sotolo, most holders are well aware of your suppositions ,but still hold and buy.
I wonder why?