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"There is a precedent of sorts for Cairo winning favors as a regional war raged.
Egypt secured forgiveness of half its $20.2 billion debt owed to the US and allies in 1991 — one of the most generous incidences of debt relief creditor nations have granted — in exchange for support for the anti-Iraq coalition during the Gulf war."
"The US wanted to reward Egypt’s President Hosni Mubarak for his pivotal role in lining up Arab nations against Saddam Hussein and to reimburse Egypt for heavy financial losses in the war. Egypt also sent armed forces to participate."
"Replicating that scenario would be difficult though. Back then there was general consensus that since Kuwait had been invaded, it needed to be supported, and while Egypt’s participation “was not met with any great joy in military circles, it was not a particularly hard sell and the debt relief was an immense added incentive,” according to the Middle East Institute’s Mabrouk"
https://fortune.com/2023/10/22/will-egypt-take-palestinian-refugees-from-gaza-israel-hamas-war/
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Too often in life picking sides, showing compassion, spreading hate - comes down to $$$ and not principles or religious convictions, as the case may be
CEO Horgan and his trusty investor relations team will let you know if anything of relevance happens in Egypt. Now sit back and enjoy Centamin's Rugby Update --->>>
@CentaminPlc
7h
#CEY has been a sponsor of the Alexandria #Rugby Club since 2003. This #diverse club plays an important role in the increasing popularity of the sport in #Egypt.
Congratulations and we hope to see Egypt in the World Cup before long! 👏😀🇪🇬🏉
#Community #Sport #Inclusion
https://twitter.com/CentaminPlc/status/1716376348879401109
🏉🏆 With the #Rugby World Cup final this weekend, we want to appreciate the grassroots rugby clubs that raise the profile of the sport and enable people to come together as a team to play and develop their skills. 💪
Centamin PLC has been a founding partner of the Alexandria Rugby Club in #Egypt since 2003, and remains a proud sponsor today.
This club of #male and #female players and staff has grown from strength to strength, playing an important role in the increasing popularity of the sport in Egypt.
Keep up the good work and we hope to see Egypt in the World Cup before long! 🙂🇪🇬🏉
#Community #Inclusion #CEY
https://www.linkedin.com/posts/centamin-egypt-pharaoh-gold-mines_rugby-egypt-male-activity-7122142086060986368-qgx5
Bears are always right - in the end.
Re what will it take ?
1) Q4 delivery on guidance with strong production and revenue.
2) A more peaceful world.
3) More doveish central bank rate policies.
4) No global recession.
5) No G7 debt trap doom loop.
Not much to ask is it?
Schiff not Schaffer lol
As always- choose who you listen too wisely , make your own decisions then you only have yourself to pat on the back or criticise
Every time markets and geopolitics gets spicey, everyone wants your clicks to make their money-
Schiff certainly not spot on-
This time last year he said
“ This was not the first time that Schiff has voiced his concerns about the U.S. economy. At the end of last year, he said that inflation was about to get much worse, and the U.S. dollar will face one of its worst years ever. In October last year, he said the dollar will crash and the U.S. is going to default on its debt. He also predicted that the Federal Reserve’s action could lead to market crashes, a massive financial crisis, and a severe recession.”
Schaffer said recession worse than 2008 would happen in Jul 2022 and we’re still waiting
schiffGold…. Hmmm what possible reason could he have for dissing equities lol
Last sentence should read
“… and anyone who has invested over the past 30years has massive outstripped the doomsayers - even though were correct in 2008”
If I believed this I’d dump all my investments now and cash hold
Tony- if you believe it- I suggest you do just this.
If rates go up again this will only be because of inflation - so your money cash will be worth less also
Crypto anyone ?
I’ve downloaded this and look forward to measuring this over the next 12months - the reason no one listens is cos the doomsayers keep on and on and on predicting when in reality are very very very rarely correct and anyone who has invested Uber there past 30years has massive outstripped the doomsayers - even thought were correct in 2008
Also worthy of a mention is our cash exposure to risk.
With no dividend of any significance my money is lying naked to whatever happens with Centamin of Egyptian politics or any order of the day that the market deems is negative for the share price.
Some lazy ass can buy Centamin today for 79p having not endured the two years risk (& counting) I’ve ran.
Screw it if someone in the Egyptian government decides to back Russia tomorrow I dread to think!
It’s no laugh this carryon!
Mrtibbles, ye should all take a flutter in GCAT Caracal Gold which went over 20% today !!
Https://www.zerohedge.com/markets/peter-schiff-most-obvious-financial-crisis-nobody-sees-coming
Spot on zero hedge with Peter Schiff. A case of holding on and join nearly everybody else State side and take cash out of the banks.
Yep like I said, yield, topped 5% earlier
For fun try plotting Centamin against Bank of America shares as they have followed the same pattern for 3 months. The share performance is nothing to do with Egypt or Centamin or what gold is doing. It has a lot to do with increasing long term Treasury bond rates. At some point the USA economy breaks and the Biden administration pretence is revealed for what it is. Banks are seeing 85% of the money in saving accounts withdrawn in 3 years or around $5.2 trillion dollars and are now at extreme lows with around $800M left State side unless the FED print money on the side-lines to maintain bank solvencies. The USA has forgotten how to save for anything and generate growth and a recession is rolling down the hill. 67% of the USA consumer economic engine is begin to stall like a plane engine at a great height. On Bloomberg they pretend all the jobs data is real and the collapse underway in the USA housing sector is just temporary as higher wages will save the day. I am amazed they can say it with a straight face especially when they deny all the loan non-payments and delinquencies rising through the roof. Time to check out zero hedge.
Agree Razor - Absolutely - No matter how you try to dress it up, it was a failure to meet forecast and the market usually takes a dim view - Also agree, a surprise on the upside is usually well accepted and supported. - When was the last time CEY did that?
It’s the higher for longer… look at the yield, topped 5% today although dropped a little- and we all know this implies across everything - it’s a consequence
Yes Clued ,the market looks at risk.
The risk is a Middle East War.
Even though Egypt is unlikely to be directly involved .
The uncertainty is what drives sentiment, it does not take much risk as we have seen many times.
Trading is sluggish because of the worlds and US debt problems, even commodities are struggling.
Jeeze, noooooo- looks fres and so on- look at the markets and so on
S & P said today that Egypt's economy could suffer due to the Gaza conflict. Could that be dropping the sp here, and even though the gold is mainly exported, CEY has the Egypt label ?
We need dovish fed Tony, anything other and this will go for a lot longer and will not be “the bottoming process”- costs have to drop.
I hope you all submitted your questions for the 30th October
I certainly hope that you are right Tornado!
Agreed Razor's & Rebess,
They needed to surprise over the last quarter, had they done so then the share price may well have risen by a respectable amount now because people would have not wanted to miss out.
Unfortunately It seems that Centamin has morphed back into its old guise of treating share holders like mushrooms and glossing over the true facts, but despite a slick presentation with the pet corporate analysts onside the market hasn't been fooled and is punishing the share price!
Very bad form Centamin, time to start delivering more than promises sometime whenever in the future and deliver some really good results with reduced CAPEX and AISC!
That’s what I’ve been saying for months and yet some persist in simply seeing issue as a cey one
On 3 year graphs Endeavour mining , Shanta Gold and Centamin have outperformed Fresnillo, AAZ, HoC, Sol Gold, Hummingbird and GGP by a reasonable margin. On a 3 month graph HoC and Shanta Gold have outperformed other UK listed precious miners with Centamin and Endeavour holding joint third place.
The problem is not so much with Centamin as it is to do with all UK precious metal listed stocks. None are higher than their listing 12 months ago.
Centamin has a lot of intermediate positives for 2024. It is likely in a bottoming process. The most it may go on for is around a month. The next rally for Centamin could well deliver a 25-30p increase on the current price.
This is not in reaction to your comment Rebess, just my opinion on the matter in general.
No matter what way Centamin tried to dress it up the company missed their Q3 guidance, and this is being reflected in the share price.
I think unless there’s something positive in Mondays conference call or in the time thereafter, I think the market won’t credit the pps until April when the Q1 2024 numbers are released which according to recent guidance should be circa 125k ounces.
I think the current price is an unfair disgrace, but I guess we are where we are.
Sadly April is the first definite marker where the price should rise failing anything prior.
Alas it’s PM’s- cos we are a stock and most are suffering - my stop loss cut in earlier today - twice in row I’ve lost in day trades- tough market at the mo, crypto going well though as is gold .
Just an opinion, but I think Centamin trashing its credibility in recent years and blowing its piggy-bank reserves has a lot to do with market-sentiment here.