Roundtable Discussion; The Future of Mineral Sands. Watch the video here.
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Aye Mizol,
Lets hope they remember what the company core project criteria is this time!
Bearing in mind that having spent so many years spending so many millions of company funds drilling so many holes on such promising (or so we were told?) West African projects the BOD simply hadn't realised the project they had approved simply didn't fit in with the company project development criteria, they were simply in the wrong places, oh dear it’s hard to tell when you are looking at a Chad Valley world globe in Jersey, it was only tin globe the souvenir shop had!
But possibly an easy thing to overlook when the BOD were so occupied overseeing Sukari operations, Oh no, sorry they hadn't read the warnings of low grade ore in 2015 & 2018 so they hadn't realised that Andrew Pardey was busily burying Sukari under millions of tons of uncleared crap to push up guidance whilst the Sukari police captain, Oh sorry, general manger was off doing other things, or possibly BOD's attention was diverted to making sure the LHDR spares parts were on hand , Oh no they seem to have missed that as well, it self-destructed!
So, what's the BOD to do now, simply claim they are reborn, let the non-fitting core concessions licences lapse, write off the 30 or so million, cut the divi to pay for it and arrange a line of credit to start up another project of promises in Doropo, "Hooray we're off the hook!" more "good times coming!" for now!
In all this celebration of a new "Centamin Utopia" what seems to be over looked is most of the shower of "Jersey Corporate Parasitical Wastrels " that oversaw, approved, ignored and were responsible for so many "F*ck Ups" that has more than halved the share price and the dividend are still in their comfy Jersey chairs!
Agreed none of this is the fault of Martin Horgan, but he is only one amongst a group of "Trossers" who now want to be looked on as savours of the company that their years of professional failings took to the brink of ruination!
What if Martin Horgan gets bored, or simply has enough and decides building a big train set is really more fun than trying to put right so many years of wrong in a broken mining company?
You couldn't blame him, He doesn’t need the money, so I suppose we must hope that he continues to enjoy the challenge!
Despite recent days of announcements of changes and achievements at Centamin if the analysts review thus far were a meal they would be described as "Bland!" and so the share price remains in the bottom of the sick bucket!
In the meantime, I am sure I am not alone in wanting to see some reduction in AISC and resumption of sustainable respectable Sukari output, without these the share price will stay at these levels, unless of course the POG rises $2500, more “pie in the sky", hope not!
A Definateve Feasibilite Study will be the start or end of any further investment.
I can also see the reason for a West African Mine having invested so much up to now, by previos mis management I should add.
Simply if something out of the ordinary happened in Egypt. Lord forbid.
And yes Egypt at and around Sukari is very promising and more controllable/local, if management have finally got their Act toghether. Its about time, instead of their arses in comfy leather easy chairs in Jersey.
Gold will fly if the US comply with Basel 3, if is the question, around the end of this year if not a little sooner.
There is a lot of Paper to back up,at least partially.
The Americans seem to make rules and break them when it suits.
We will soon see,
GLA.
Im sure Martin Horgan knows a lot more about mining than I do Mr T--------but I totally get what you are on about sorting out Sukari rather than looking elsewhere. We could get lucky and get another mine working elsewhere, but I think with the size of Sukari--the full 160 km and not the 3km, there is hell of a lot to go at there.
Im hoping that things do start improving soon and a bigger divi is reinstated. Obviously if the POG starts going up, this would help increase profits.
I still struggle to comprehend how POG has not started to climb sharply, given the current state of the country, economic forecasts and inflation.
From May 2021 although POG has dropped since then!
Just remember that PEA studies have a very positive bias and the NPV numbers will probably come down once feasibility studies have been completed.
A grade of 1.13 g/t for most of the Doropo deposit is not very high grade for African projects with their high cost structure.
The projects will be exciting if they ever get to produce anY gold at a profit, at present all they are is more commitment to spend many millions of borrowed money with only estimated predictions of a return some time when!
Will these projects rend up just like Batie West?
For Pity's sake Centamin get on with restoring Sukari production at reduced AiSC, all we have as yet is a big bill and promises!
Wishing our all our Ivorian colleagues, partners, host communities and friends a Happy Independence Day. Thank you for your continued support as we advance our exciting gold exploration projects in Côte d'Ivoire. #independanceday #cotedivoire
https://twitter.com/centaminplc/status/1556191234951102465?s=21&t=bAMuoKMrA_KHtbxFcjgQZQ