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Thanks Tibbs as I say I haven't missed anything and a lot of positive maybe's without any details so hopefully we will hear something in the next quarterly statement/presentation. Or who knows EMRA might one day share with us the outcome of the bids.
Egypt Daily News has Centamin in the ftse 100, that would be nice!
https://dailynewsegypt.com/2020/06/24/egypt-extends-closing-date-for-new-gold-exploration-bid-to-september/
https://see.news/top-gold-mining-co-to-enter-egyptian-market/
https://www.egypttoday.com/Article/3/82344/Newmont-Mining-to-participate-in-bidding-for-gold-in-Egypt
https://www.sis.gov.eg/Story/144000/Mulla-discusses-with-major-int%27l-firms-investment-opportunities-in-mining-sector?lang=en-us
https://www.ft.com/content/dce12c9a-d57d-11e9-a0bd-ab8ec6435630
https://www.forbes.com/sites/greatspeculations/2020/03/09/is-newmont-goldcorp-set-to-dominate-the-gold-industry-by-2025/#1f27fa663d40
https://www.nationalgeographic.com/magazine/2009/01/gold/
Dansul thanks yes I did hear that Newmont were looking at throwing their hat in the ring and they are a formidable company. The thing is did they actually take make a move and as I say it is somewhat surprising that we can't find out who actually made bids and when will we know the outcome of such bids. Siko if you are still reading the forum comments and questions do you have any feedback?
I found this but then came COVID-19, and you may seen it before;
https://see.news/top-gold-mining-co-to-enter-egyptian-market/
It is noteworthy that Newmont is one of the top gold mining companies with the largest proven gold reserves in the world and is one of the biggest companies operating mines worldwide.
GLTA,
Dan
OK thanks Cowichan, Tibbs it seems I haven't missed something and there hasn't been any official releases from EMRA advising of participants. Also still can't find anything that relates to award dates or timelines, I find this very surprising because Government tenders are normally gazetted.
The conditions of the auction are in the interest of the company and the state together
My attempts to participate in the auction were unsuccessful
http://www.youm7.com/story/2017/7/8/%D8%A7%D9%84%D9%84%D9%88%D8%B1%D8%AF-%D9%86%D8%A8%D9%8A%D9%84-%D8%A7%D9%84%D9%86%D8%A7%D8%AC%D9%89-%D8%B9%D8%B6%D9%88-%D9%85%D8%AC%D9%84%D8%B3-%D8%A7%D9%84%D9%84%D9%88%D8%B1%D8%AF%D8%A7%D8%AA-%D8%A7%D9%84%D8%A8%D8%B1%D9%8A%D8%B7%D8%A7%D9%86%D9%89-%D8%A7%D9%84%D8%B1%D8%A6%D9%8A%D8%B3-%D8%A7%D9%84%D8%B3%D9%8A%D8%B3%D9%8A-%D9%85%D8%AB%D9%84/3316888
Sunday,, the owner of Veritas - Lord Elnagy- spoke of how fantastic the T&Cs of the tenders were, his company would complete the exploration in 3 years instead of 7,if they were fair with Egypt then Egypt would be fair with them and investors should not only think of their own benefit..
We compete in the new gold bid to win two regions
A member of the British House of Lords, Lord Nabil Al-Naji, carries a love for Egypt not only because he holds her nationality, but he also owes her a favor from his birth until his arrival in London, so according to what he says, “I owe Egypt everything. England received me 100% ready, young, educated, university degree holder It is time to give back the credit, he says.
Nabil Al-Naji, who won the title of Lord of the British House of Lords in the mid-eighties, the company headed by "Virtias Mining English" won the right to prospect for gold in the Umm Al-Rous region in the Eastern Desert, after the results of the global bid for gold prospecting in the Eastern Desert were announced. He believes that Egypt has changed a lot. Politically, economically and security-wise, after the events that it had witnessed since January 25 and the accompanying events that made Egypt not the preferred destination for capital owners and investors, until June 30 came, which worked to change this negative outlook.
The economic decisions taken by Egypt caused an echo among foreign investors
"The process of convincing his partners and friends to inject investments to the English company Vertias in Egypt was not difficult," especially in light of the recent economic decisions taken by Egypt, which caused a very large resonance among foreign investors, adding that we decided to work in the mining sector because we see it as an expected success for our company. And for Egypt together
Engineer / Tariq Al-Mulla - Minister of Petroleum and Mineral Resources announced today, Monday 3-2-2017, the results of Bid No. (1) for the year 2017 to search for gold and accompanying minerals, and to exploit them, in 5 regions in the Eastern Desert and Sinai, where it was awarded to 4 international companies .
The result of the auction included the awarding of the Bukari and Umm Samra regions to Resolute Egypt Limited, the Umm al-Rus area to the English company Vertas Mining Limited, the Umm Oud and Hanjaliya areas to the East Gas Company, and the Dahab area to the Spanish Ghassan Span Investment Company.
And it comes on top of the winning companies:
1- Resolute Egypt Limited, affiliated to Resolute International Company, its head office is in Australia. And it has gold mines in Australia, South Africa and Central Africa. I advanced to the competition for 4 regions, which are Bukari, Umm Samra, Umm Oud and his throat, and Umm Al Rus. Bokari and Umm Samra won. Competed in Block Bokari, Master Gold, and in Block Umm Samra, B2 Gold Cup.
2- The English company Vertas Mining Limited, affiliated to the international company Vertas, headquartered in the United Kingdom. Among the founders of the international company is an English lord of Egyptian origin. And it has mining sites in Canada and Australia. It advanced to one region and won, which is the Umm Al-Rus region. 3 other companies competed for this area, namely the Spanish company Ghassan Spain, the Australian Resolite, and the Egyptian Sun Company.
3- The Egyptian East Gas Company, one of the Egyptian petroleum sector companies based on 100% Egyptian investments. It was established in 2001, and it works in the field of buying and selling surplus gas for export and transporting it through the construction of land and marine pipelines inside and outside the republic, as well as establishing gas liquefaction units and all works related to the company's activity. It won in Umm Oud and Hanaliya, which is very close to the Al Sukari mine site. It presented a memorandum of understanding with the Canadian company, NESCO, to benefit from its experience in the field of mining. The Egyptian company is the only winner in the global auction of gold, and the company's victory is an opportunity for Egyptians to enter this field to gain the necessary experience in the field of mining, especially in light of the intention of the Ministry of Petroleum and the Mineral Resources Authority to launch a new bid for gold prospecting next month in five new areas in the Eastern Desert. It was competed for this area by Canadian company Resolute and Egyptian Mining Corporation of Wealth and Resources
Remember Lord El Nagy (Veritas Mining) won a concession in 2017
Somebody dobbed Fake Lord El Nagy in to EMRA
EMRA to hand over concessions from 2017 gold tender after Mineral Resources Act is amended: The Egyptian Mineral Resources Authority is holding off on handing over the five concessions awarded in its 2017 gold exploration tender until after the amendments to the Mineral Resources Act are finalized and passed, an EMRA source tells Amwal Al Ghad.
The winners of the tender were UK’s Veritas Mining Limited, Ghassan Spain Investment, Egypt’s East Gas Company, and Resolute Egypt, who will collectively invest USD 41.3 mn.
Background:
The government has sent the amendments to the act to the House of Representatives for review, Oil Minister Tarek El Molla said last month. El Molla reiterated that the amendments — the details of which remain unclear — were made primarily to draw investments in the flagging mining sector, which has been hobbled by an outdated economic framework better suited to the oil and gas industry.
Wood Mackenzie has been contracted by an affiliate of the Oil Ministry to lay out an appropriate development strategy for the sector.
The firm identified four key challenges facing Egypt’s mining sector, and its suggestions have largely been incorporated in the proposed amendments to the Mineral Resources Act
https://enterprise.press/#tldr-story-09
http://en.amwalalghad.com/
I found these articles which mention Newmont, Sprott, & Kinross in addition to the ones we already have confirmed Barrick , La Mancha & Centamin
https://www.egypttoday.com/Article/3/82344/Newmont-Mining-to-participate-in-bidding-for-gold-in-Egypt
http://english.ahram.org.eg/News/364671.aspx
I realize we all hope Centamin has the best shot at getting the prime location(s) BUT there is a benefit to Egypt's international standing as a place to attract foreign capital if they welcome some new companies. That will no doubt factor into the EMRA's final decision.