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Thank you also for your words dealts,
As I have often said anyone can be whomsoever they want to be on internet forums and in general these types of forums attract a fair number of those who contribute little or nothing of any help, but are hoping for some info on the cheap or derive some pleasure from being spiteful to anyone who should admit to getting it wrong!
This forum at times suffer from an influx of the type who infest some of the tabloid social media type of forums who possibly because of their own insecurity derive some pleasure out of being spiteful to those who have made an honest post to get something off their chest or have been looking for a bit of understanding or support.
Then there are those that boast of their trading prowess and ridicule anyone who have been honest enough to admit they made the wrong call, or simply took in good faith what they were told!
Its during the difficult or challenging times and Centmin holders have known those only too well over the past decade that this forum has provided an avenue for the members to honestly express any doubts, misgivings, regrets, or just their feelings in general, even if such posts might be deemed by some as being off topic, this forum has been a means to give one another some moral help and support which in my experience is often of far greater importance and achieves far more than the spoof and bluster and sheer arrogant nastiness that is all too common place on every other trading forum I have come across!
Also this forum is certainly fortunate in having members from a broad spectrum of life and professions, including some from the mining industry itself who are always willing to educate and share their knowledge and experiences with other members.
As far as Centamin goes this forum sets the standard because of the quality of input and the decency of the majority of its members (dreamers, spiteful buggers, spoofsters, aside)and as such is taken seriously to such an extent the posts are reviewed several times each week by I.R, and some brokers.
Stay well and strong!
Tibbs
Also thank you to the LSE website for enabling our conversations to continue!
Well Sotolo, you have always come across as a clever minded individual in which I have enjoyed reading your posts. It always hurts when confidence in the future doe not turn out as expected.I have also lost many thousands by not getting out when I should, but unfortunately none of us are blessed with hindsight. I really hope for you and the rest of us long term holders that we do get our reward,after all I really do think we deserve it for our patience alone. Keep well and dont beat yourself too much, its being human! Great words from Tibbs and others. G.L.A.
Hi Sotolo,
We were planning to move to Cornwall some years ago but out two little Bichon Frise were diagnosed diabetic and required regular doses of medication, both had cataract operations and very importantly needed the care of a vet who they were at ease with and specialised in diabetes which they had where we live, I won’t go into the fights with More Than pet insurance RSA were obstructive to such an extent that I usually had to resort to the ombudsman who found in our favour every time, our case was featured on Rio Off Britain. .
Anyway Harry & Sophie came first, so house projects were put on hold and anyway Centamin was in one of its recoveries from its latest unexpected drop and seemingly on the way to £2-£3 or more.
We were led to believe that all was well at Sukari, the analysts were predicting great things and it seemed the share price was on the way to £3., but then as we are all aware the malpractice at Sukari, the now apparent deceit or disregard for shareholders trust was exposed by the inevitable crack in the gloss (pit wall) the results of which we are all painfully aware!
So, for many of us the dreams that now seemed me so lose to reality, in reach were snatched away, or put back and on hold again!
Then along came the lock downs, the rise in POG but Sukari was in limp mode, still is to a great extent, although starting to recover, if we can believe what we are told, hope so!
I am sure that you aren't alone in the way you feel, there are others who understand and share your feelings, frustrations, possibly even anger with yourself for not getting out sooner or on a high, but unfortunately just as always in every walk of life as with our present the present situation in the UK with all the other in other ensuing world events we ordinary people hardly ever have access to all the facts, even the truth to be able to make an informed decision.
These are indeed unprecedented times are living through and I agree with Prof things feels strange, almost surreal, but of course they are very real!
But bear in mind the wise and very valid words from Paul and Prof, those wood's, the flowers, the wonderful wildlife, the birds, the steams rivers and fish and all that inhabit our world, must never be taken for granted, the pets that come into our lives for far too shorter time that give us so much and ask so little in return they are the really important things!
If and when Centamin recovers will be a bonus, but for now spend your time enjoying some of those things far more precious than gold about you!
Hope you both keep well!
Tibbs
The stock markets are NOT the economy ElProf- what I've been saying for years.
Sotolo --did you not think to start getting the house built years ago? With your holding the Divi should have helped getting it started.
Someone has bought the woods at the back of me, which are mainly hill and for which he would not be able to get planning permission. But as all he wants it a bit of quite at the weekends, he is building a sort of cabin. Its not bad so far. He put in brick and concrete plinths and is building on top of those. He got some double glazing units off the bay and is building (in new money) an 8metre by 4 metres cabin. its cost him about £3,000.
Anyhow--If I were in your position, and had your sort of money I would be building a pretty decent cabin/chalet to live in in the mean time and once your mansion is built (Ive got my fingers crossed for the £3 a share in the not too distant future), you can keep it as a chalet/ summer house. Im guessing as it would be mainly wood it would be classed as a tempory structure and easier to get planning permisson for. Or you could get a couple of old static caravans ? :-) His and hers?
I hope you get to build your mansion before you get too old------------Mr T gets his gold flip flops---and I can afford gold toe capped boots for the garden.
Morning Sotolo,
Sorry to hear that. I guessed you had taken pain on CEY, like so many of us, but hoped you might have somehow off-set it with gains elsewhere. Good to hear you have the beautiful woods, lovely surrounding areas and the kind neighbours, even if the flat is that small.
Everything is feeling strange at the moment, I agree gold does not seem to be performing as you would expect given the current global situation but then again the stock markets on the whole don't. I can't believe the DOW is within 10% of its high, which was 'high', with everything going on. My personal expectation is that we will see a fall back in stock markets this autumn as the true economic pain becomes clear to all - but then again, when have I ever got my predictions right.
Hope you can keep your chin up and smiling by taking pleasure in the good things you dohave.
Very best wishes,
Prof
Thanks for asking and I guess you can imagine that Centamin etc’s fall has scuppered that; I get berated almost every day as we squish in a tiny flat above the garage in the most beautiful oak wood waiting to get back to the price a couple of years ago and build the house of our dreams. Meantime as Cey has more than halved and hoc worse, building prices soar, it makes me feel an abject failure. I did earn that money myself in a vey successful creative career but feel a big let down to my nearest at choosing to invest in gold, thinking it would be the thing in an increasingly crazy economy and world, and believing that it should rise, when in truth it is only what people think it is a bit like that old emperor… however our wood is magical, weather brilliant, neighbours kind, surrounded by river sea and forests to walk and swim in, though times and some people seem a bit weird as is the nature of this point in the cycle, in fact the world is going entirely as expected in terms of. very long term cycles, just gold is proving rather slow to catch up and it can be decades late which won’t suit me, as I shall be dead! Have a lovely weekend.
Hi Sotolo,
Great to hear from you too. How is the house plan going?
Best wishes,
Prof
Dasut - fingers crossed we're going to see production in Q3 and Q4 around the 120,000oz mark for both quarters + Sukari resource update, Doropo PFS, grid connection study, UG expansion & solar plant commissioned. That is a lot of good news coming down the pipe.
Fair comment Dasut,
As far as I am concerned I don't really care what the corporate analysts think, if Kees Dekker is satisfied with Martin Hogan's new strategy and the progress so far, that's good enough for me!
Tibbs
Hi 3 bear,
No offence taken, I quite understand your reservations, I have the advantage of knowing Andrew better than you and I can assure you that he would understand your scepticism.
To be fair after requests from people like us Andrew has made great efforts in trying to make the content of his weekly broadcasts easier to understand, but I agree its still hard going for anyone not actually in the wholesale side!
As Shane suggest during the introduction to the broadcasts they welcome some feedback or suggestions via Twitter.
Tibbs No I didn't participate in the Q2 phone in as I had an appointment that I couldn't change. To be honest it is the next couple of quarters that interests me more as all being well there are some interesting updates due.
Fair enough Mr T, I may have been a bit harsh, he's just not for me
HI 3Bear,
Ignore Andrew Maguire if that is your preference, but the manipulation is very real.
Anyone that hasn't spent years in this side of the markets is going to find understanding or comprehending what goes on difficult to understand , myself included.
Just to be clear Andrew isn't saying that you should buy gold from him and never has done, as you may be aware there are numerous precious metals dealers out there.
Think back why did Nixon detach the $ from the gold standard?
You are of course entitled to your opinion, but the precious metals price is very real, there just isn't enough actual gold to fill them even if no more paper contracts were issued and precious metals production carried on fr the next 1o years , there would still be a shortfall of physical to fulfil orders much manipulated by paper contracts .
The price of all precious metals is far lower than it should be and the manipulation of silver is by far the worse, Andrew left a very senior position at big city trading bank after he witnessed the destruction of the livelihoods of Chilean communities by precous metals price manipulation and he pledged to fight it.
But just have a listen to a broadcast from CEO of First Majestic Silver Price Manipulation by Keith Neumeyer
https://www.silverdoctors.com/silver/silver-news/mining-ceo-predicts-130-silver/#more-79069
prof lovely to hear from you, I think the point is maybe AM is obfuscating to cloak his simple selling message, that 3bear has deciphered for,us in what looks like complex justification. I got a bit involved in early stages the making of the Millennium Dome years ago, I could never understand what is was supposed to be about as I sat through endless prolix meetings. I thought I was too stupid to understand, but it turns out actually because there was no substance to it, just bogus ideas masked by language. So thanks 3bear, I think your summary is just it even if Prof thinks a little brutal, and agree with you that others shouldn’t be dissuaded, as you say “ if I've got this wrong I don't want to dissuade people from listening”
Hi Tibbs,
I may not view it as strongly as 3bear but I am certainly not entirely convinced by Maguire.
The aim of communications is to communicate. If what he says cannot be understood by the reasonably intelligent layperson, who it seems is his audience, then it is arguably not effective.
Best wishes,
Prof
Apols MrTibbles I don't buy too complex to understand. I don't want to cause any offence but my view is that Maguire can be safely ignored. I'm really happy to be corrected by anybody here, but after doing my best to decipher him, it seems he says this:
1) The true price of gold is a zillion bucks per oz.
2) The only reason this is not manifest is due to a comex/paper gold conspiracy.
3) The answer is to buy physical gold (from me)
4) Repeat endlessly.
5) Use as much indecipherable jargon as poss to disguise 4).
6) Er, that's it.
While this shtick may be comforting to those invested in a poorly performing gold producer, I'm not sure it's useful. Tibbs I mean no disrespect, I'm relatively new here and more than open to counter arguments, if I've got this wrong I don't want to dissuade people from listening to good source, I just don't believe that's what Maguire is.
hi 3bear,
Andrew does try too explain things in layman terms, but too be fair the subject matter is so complex and so far removed from our world its no wonder that people like us find it hard to take in.
How many politicians understand what is going on, very few and likely most of them have vested interests because they realise to challenge it would likely expose just how broken the monetary & market systems are!
This is why the manipulation carries on, very few on the outside understand it and so it doesn't get challenged!
Thanks Dasut,
Very fair comments, who knows where Centamin might be had they had management who really understood the industry from the start , it seems like a decade was wasted in many respects, still find it hard to comprehend
I agree, lets hope hat something can be salvaged out of the Ampella deal!
In some respects what has happened with Centamin reminds me of when I was invested RBS, one rear I went to the AGM in Edinburgh when the shares was around £7 with a handsome dividend, on arrival we were offered never ending filling of our glasses from champagne fountains, the platters were heaped with Scottish fresh salmon and the chef was cutting thick sliced of roasted Aberdeen Angus beef and then Brave Heart played as Sir Fred entered the room, after a speech announcing planned acquisitions and that this was just the start as RBS was going to expand internationally Sir Fred toured the room shaking peoples hands, later there were parties and entertainment into the night!
Then sir Fred bought a bank that everyone else had walked away from!
https://www.spectator.co.uk/article/was-abn-amro-a-deal-too-far-for-fred-the-shred-
Little did I realise that all too soon after such promises my shares would be worth 20p, my broker friend said he would be dead before RBS recovered and that he was going to invest in Centamin, they were a decent outfit ,so I did the same!
How the wheel turns!
Were you the retail investor who called in on the Cey Q2 Q & A ?
I've tried listening to Maguire a couple of times and not understood a word he was banging on about. This bear of little brain needs things set out in simpler terms...
Tibbs thanks for the links but as I say had first hand knowledge of both processes having visited Bogosu many times as they also ran a good size fleet of equipment.
Going back to the Ampella deal I don't see any additional resource added by Centamin at BW so maybe we can give someone the benefit of the doubt and say that someone saw more in the Cote D'Ivoire resources than Burkina.
How much money was spent on drilling in Burkina as against Cote D'Ivoire I don't know.
I am sure it is out there somewhere but history doesn't really interest me because it can't be changed, maybe the salesman in me always looking for the next opportunity.
Likewise at Centamin it looks as though Martin Horgan and his team with fresh sets of eyes are looking forward not backwards and that sort of forward thinking and cutting out the dead wood inevitably ruffles feathers.
What we now need is something to come to fruition with increased grades and production at Sukari with a reduction in costs clearly outlined in a timeline presentation showing when the hurt stops and there are black numbers at the bottom of the quarterly financials. Suggest this will only be possible when the waste contract comes to an end and capital expenditure flattens out.
Likewise a sooner rather than later opening up at Doropo and positive news regarding ABC will only help.
The other opportunities in Egypt are I would suggest long term and a good number of years away even though some positive news from theses areas won't hurt not sure I am looking that far forward.
Much better to listen to the wind.
regards
Gold Gnome
No---I mean Wild Tiger----- or quite Irate Tiger as I've take to calling him. You know ,the one who always selsl having bought in a bit lower last week.
Sotolo,
The majority of long term holders all taken in, me likely more than most was taken in by Centamins promises of good times coming!, the company wasn't being run as it should have been and we were being given the baloney which we all trusted was the truth, but hindsight is a great thing and we were taken for suckers more than once!
But that said at last we do now seem to have a CEO and a management team who know what they are doing, so lets hope this time its very different!
Hi,
I never realised why Tiger was banned?
Thank you