The next focusIR Investor Webinar takes places on 14th May with guest speakers from Blue Whale Growth Fund, Taseko Mines, Kavango Resources and CQS Natural Resources fund. Please register here.
London South East prides itself on its community spirit, and in order to keep the chat section problem free, we ask all members to follow these simple rules. In these rules, we refer to ourselves as "we", "us", "our". The user of the website is referred to as "you" and "your".
By posting on our share chat boards you are agreeing to the following:
The IP address of all posts is recorded to aid in enforcing these conditions. As a user you agree to any information you have entered being stored in a database. You agree that we have the right to remove, edit, move or close any topic or board at any time should we see fit. You agree that we have the right to remove any post without notice. You agree that we have the right to suspend your account without notice.
Please note some users may not behave properly and may post content that is misleading, untrue or offensive.
It is not possible for us to fully monitor all content all of the time but where we have actually received notice of any content that is potentially misleading, untrue, offensive, unlawful, infringes third party rights or is potentially in breach of these terms and conditions, then we will review such content, decide whether to remove it from this website and act accordingly.
Premium Members are members that have a premium subscription with London South East. You can subscribe here.
London South East does not endorse such members, and posts should not be construed as advice and represent the opinions of the authors, not those of London South East Ltd, or its affiliates.
I have to say I was relieved to be filming shoes in Northampton (Kinky boot factory) rather than making them on repetitive lines inhaling the glues etc, getting aching limbs and stress from boredom. 50 years ago people spent far more on shoes than TV, now we mostly have too many shoes and don’t want leather and we spend more on TV subscriptions than shoes hence the move in labour, reduction in factory accidents and another contributor to lengthening life expectancy, tho I have to say alcohol is a danger in TV. Specialising in services from financial to advertising and TV and of course buying and selling gold rather than the horror of mining it and working in factories making shoes seems to me a plus and has made us richer. More and more automation will help the world move more to services. Look at reductions in car and farm workers as services have soared
Couldn't agree more, 20 years ago I attended some further training courses at he college near the big general hospital two days and evening a week over three years, lovely walk by the river between the main college and the annex, I enjoyed Leicester then, probably changed a lot now though!
Few councils seems to care about doing things properly any more to the basic infrastructure and open spaces in so many of out towns now, ts all about promises on websites and excuses on facebook!
I am glad I was born when I was
Bring back the good old days when Leicester was the heart of textiles and Northampton was the boot and shoe industry
Correct Autonomy1,
Although it might be claimed the case is still going on there is no real progress because there is a fear of spending more money, that the council doesn't have on legal fee's to get nowhere, there is also no will to expose those responsible because it would open even more cans of worms!
Even District Audit completely failed in their duty, if they had acted earlier to all the information they were given the whole affair could have been avoided, but they didn't so they are more concerned about covering their butts now!
It is indeed a sorry, shocking tale that despite the years of ongoing efforts of those former councilors, former officers and towns people that tried to stop the whole thing before the completion carried on to a corrupt conclusion.
In a nutshell the best interests of a bankrupt local football club, it's 2500 members, and the political ambitions of a possibly corrupt council leader to be MP took priority over the best interests of the 250,000 townspeople, that's politics for you!
Also the local /county councils were so inept and wasted so much money they were in effect insolvent ,so they got put into special measures and a new authority has been created,still inhabited by many of the same old lot.
If, and I say if Centamin should get reimbursed some or over a period of time all of the disputed lost fuel subsidy then that would indeed be a nice and substantial (millions of $)boost to the company coffers!
Assuming Centamin was to be paid back the disputed lost fuel subsidy of the original contracts terms the amount is such that it may be difficult or impossible the Egyptian government repay it all at once.
Possible solutions if acceptable to all parties concerned may be
That the amount owing is repaid in stages over an agreed period.
Or might there be another way that is easier and less painful for the Egyptian government to square up the account that would also highlight its success with the latest concession terms in opening up Egypt's unexploited mining reserves to international companies.
It makes sense that all mining concessions should adhere to common or standardised concession terms and so it would seem unwise, even unfair to risk causing operational and potential production/ profit auditing problems by having the longest established mining partner in Eygpt with differing contract terms across its Egyptian concessions.
As we realise the existing Sukari contract on profit share is more generous to the Egyptian government than the latest concession terms, although if the exiting contract terms and conditions of the Sukari franchise were to be brought in line with the latest standard concession terms across Eygpt then a new Sukari concession contract/ license would have to be issued which would then make the court case null and void.
In effect this would solve two long standing unresolved issues ,the court case and the disputed diesel fuel subsidy , although the reduction in profit share on the new terms over a period of time should eventually repay the outstanding fuel subsidy back to Centamin.
Obviously these are just possibility , nothing certain, but possibly Martin Horgan has had similar lines of thought and even been negotiating along these lines, who knows?
Hopefully all will be announced before too long! li
Sorry that is a reply to us becoming tier 1, which we are definitely aiming for. As said:
Currently need to get output over 500k oz, with aisc under $966, so output needs to rise about 20% and costs fall a fair bit more but than that, but that is what we are aiming at for 2023
Mrtibbles
Wasnt this Northampton town and isnt the case still ongoing
Currently need to get over 500k oz with aisc under $966, so output needs to rise about 20% and costs fall a fair bit more but that is what we are aiming at for 2023
I guess/hope we may get some news on court cases and concessions with the results in 10 days, the concessions should lead to a bounce, the interesting thing is what they do to the share price mid term, as the more we get the more capital it will need to develop them and the more risk that capital will go down a hole, but conversely the more opportunity to increase output and make more money. So the shares become riskier but more exciting and presumably the divi goes down again as the money is needed for exploration
The stupidity of it all, is they have a go at the Africans for Nepotism. Who are the gold medalists?
All coming together every well for CEY. I think this is the next major leg up! Could the mining indutsry see Tier One magnement with a Tier One orebody? Certainly hasnt happened with Rio, to name one ...
best
the Gnome
Yeh a sale at 110 so come on you two we have gone up. The sun is shining here. The shops are opening. You may get your haircuts. Have a drink of tea and smile!
Shocking tibbs....I just don’t know how they get away with it....someone should go to prison really disgusting.
Rumours about Liverpool council also and contracts handled out to mates...what changes
Sounds great re cey I could be tempted for another top up ....mmmmm
Your absolutely right on that Mike, they are all up-to having family working for them, you might be amazed if you don't already know what a new MP gets each time to set up an office and pay their staff!
Have a look on the parliamentary website, its all there!
Our Tory MP (Former council leader)was forced to stand down due to agreeing to a local football club owner taking over a £6 million community stadium on a £1.00 a year lease and then arranging a Public Works Board Loan for £11 million through the council so the private owner could develop the stadium facilities for the town football club.
The football club owner was then given planning consent to build ra hotel, retail units and housing on the land around the stadium, so the numbers stacked up!
Although the private football club chairman leased a Bentley, then set up two companies in other peoples names and drew down the £11 million to build himself hug mansion in a village just outside of town, his brother also on the pay role of the developmental company ran up millions of pounds of debt with contracts to the stadium development who stopped work due to non payment.
In the meantime one of the projects partners arrange lavish pre MP election parties with celebrities n London the try get the Tory council leader elected as MP.
Cutting a long saga short the Tory council failed to carry out due diligence on how the loan was spent and the football club owner put the mansion in his wife's name, all the money has gone, the house can't be touched and the council tax payer is now having to repay the loan to central government over 40 years at an interest rate of over 4% rather then the usual 0.5% PWB loan rate because the loan had been obtained under false pretences for use by a private individuals business.
The case went to District Audit and then court , the council lost a million pounds in legal costs, and the £11 million, the private football club owner got off and the former MP got a job in Tory central office.
Our town could have elected a decent local chap who stood for Labour, but instead chose another Tory who lives over 80 miles away, drives a Bentley and claims £130 in expenses and rail travel each time he visits his constituency for a surgery or meeting.
What's wrong with our country, nothing really, it's the 'Fecking' politicians and the way they are elected that's wrong!
Sorry its off topic!
But really good news about Centamin, I think once the full details become apparent ( I heard that Martin Horgan is really excited) to the market then we shall see some positive movement on the SP!
Well small top up 4K at £109.50.....
Small burst of snow which has disappeared....London
Queues in the barbers just tried...desperate
I think most politicians become corrupt after one term..sense of entitlement, ,perks ...my local MP has his wife working for him. And that goes for all side’s.....I don’t think anything has changed in thousands of years.
Anyways, heres hoping for a better 2021 for all