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Cowachin
Here's a rough take, perhaps too rough for most....
As a ~1m share holder, let me share some frank views, apologies for repetition!
The Sukari geological gold asset are outstanding, and therefore I invested. The previous board and previous management were not impressive, rather opportunistic, and I have done well. I expect to continue doing well obviously. Timing is key
The discussion just revealed in the interviews, QandA (etc) are much aligned with my view and adopt a strategy and action plan which I feel comfortable with. There is technical depth and reality in what they propose, and I suspect that they under promise and over deliver, but let’s see. So the day traders (I am not) … watch this carefully.
The previous strategy and plans were not of interest to me. Their assumptions and behaviours were predictable and let’s say “flamboyant”, over promise and under deliver? and they were what they were and are now exposed. The ore is in the ground delivered, to be polite.
Opportunistic mining (high grading?) will end in tears. Does every time, clue is to get out before the tears start rolling. Or wait for reality to catch up.
Interested in some of the more sensible comments on West Africa (remarkably few from previous mngt) There are real hints here. They have done well in terms of acquisition/discovery costs per ounce. No value in SP? They are in one of the most fertile gold provinces on the planet. They are diversifying geographic risk. They need the right management and right operational staff to make a go of this, and if they do, this could be spectacular (see B2Gold into Mali). The previous staff were not the right people,
My guesses are
1. Batie West will not be a Centamin ore body, but will be divested into a situation which will deliver risk free, free cash flow.
2. The Cote D’Voire assets will form a mining operation which will be attractive to Centamin use of capital.
3. Centamin will establish a significant free cash flow operation/s in West Africa, and do very well.
That’s all from me, the new management are doing a solid job, to manage the situation they unfortunately inherited.
Good luck to all, there are a few vocal people who have no idea what they are talking about, other than they need to make a few bucks...cest la vie....
the Gold Gnome
Hi DJRYAN,
What is it that is making you feel optimistic about the forthcoming announcement?
I usually am but seem to keep having my hopes dashed. I thought the Q3 one was going to say the slide was fully contained and the production impact on Q420 was going to be a lot less than anticipated with matters back to normal for Q121. How wrong was I?
Could do with reason to return to optimism.
Best wishes,
Prof
Fingers crossed!
Yes, I am feeling a bit more optimistic after re-listening to our CEO's update & Q&A - thanks for asking!
As far as how realistic a buck a share is — we'd know better if the long awaited Batie West resource update ever was released. There's so much drilling data that was never quantified - at least never revealed to Centamin shareholders.
I remember when Norm Bailey was hired - ostensibly to figure things out in West Africa - then he get's unceremoniously dumped earlier this year. Who knows what funny business he was up to with the whole Endeavour attempted coup. I'm just glad our new CEO keeps populating the ranks with former Toro employees - at least we can rest assured these people have a degree of loyalty towards our leader.
Hopefully we get more than 'old news' on Dec 2nd - Cheers
Cowichan,
I would be ecstatic with that. Do you think it is likely?
Hope you are feeling a bit better after the horrible last week (and the one 2 before that).
Best wishes,
Prof
After listening to our CEO's comments last week about how best to proceed with Batie West I could envision management selling a 50% interest to a major - perhaps Kinross - and distributing a special dividend to us LTH's
Last week's Kinross news for those who missed it -->
'Kinross believes that selling its mines in the Americas and relocating its African and Russian business to London would make the remaining parts of the company more valuable than if all the assets were kept inside one business unit, The Globe and Mail reported.'
https://www.mining.com/kinross-gold-mulling-sale-of-americas-mines/
I'd be happy with a buck a share special divi plus the expertise of Kinross in developing West Africa - sharing the risk/reward isn't necessarily a bad idea