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Would be a brave person to stay in for tomorrow-
Cey is a stock and falling like some other pm’s today despite the gold spiking to ~1960 today, 40usd rise at one point. We know tomorrow is a miss, but jam tomorrow…
GLA in whatever you do :-).
Let's hope that the L.O.M. message wasn't part of a good news/bad-news act. - Softening us up. - We'll know tomorrow. Please God, not another good-hiding day.
Cowichan I am not saying I am happy and certainly not laughing at the current SP but I can do nothing about the issues that have occurred but if the strip ratios from 2025 are 10:1 and above for a few years there is nothing that Horgan can do about it as it is the nature of the ore body.
What we now need to suffer is a longer wait to see what advantages the painful cost of the waste removal contract has on the production in 2024 when the report says they are going to be working with a strip ratio of 6.4:1 which gives Horgan and his team some short term credit and stay of execution, only wish the more important ore grade was more than 0.87.
I certainly am not saying that everything is great because it isn't and won't be until we start seeing the consistency of healthy profits.
News for CEE
Alert Sent 2023-10-18 04:46:24 AM ET
Delivery preference: Immediate delivery
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DJ Centamin Has Several Near-Term Drivers for Upside -- Market Talk
2023-10-18 08:46:00 AM ET (FW)
DJ Centamin Has Several Near-Term Drivers for Upside -- Market Talk
1246 GMT - Gold miner Centamin's new life-of-mine plan for its Sukari mine in Egypt provides several paths to increase its valuation, Berenberg analysts Richard Hatch and William Dalby write in a research note. "We think that Centamin is on track to create more shareholder value over the next 12 months, with plenty of catalysts/upside from the updated life-of-mine plan," the analysts say, also pointing to upcoming updates from a desert exploration program and the completion of the definitive feasibility study on the Doropo project in Ivory Coast. Centamin reports its third-quarter production figures Thursday. Berenberg keeps a buy rating on the stock, while lowering the price target to 130 pence from 147 pence. Shares are down 0.4% at 85.75 pence. (Christian.moess@wsj.com)
(END) Dow Jones Newswires
October 18, 2023 08:46 ET (12:46 GMT)
Copyright (c) 2023 Dow Jones & Company, Inc.DN202310180046242023-10-18 12:46:00.000004624DJNF
GLTA,
Dan
Yep
Am I right in thinking that tomorrow - 19th - is Q3 results day?
Big respect to you for having the courage and integrity to be completely frank and honest in your presentations despite the risk of physical and verbal abuse afterwards!
Seconded!!
Some may find Crux Investor of interest the articles tend to be useful as a comparison with mining companies published quarterly updates. etc.
Over 2,200 published interviews from ~1000 publicly listed mining companies, whilst our experienced team of in-house analysts have assessed and scored 97% of mining companies listed on the major exchanges.
The vast majority of our output is made available to retail investors like yourself for FREE
https://www.cruxinvestor.com/about
Hi Mr Gnome,
Thank you for a very interesting post regarding the initial study and sampling to help decide the commercial viability of a potential and ongoing mining projects..
From my own acquaintances you aren't the first or the only mining professional that has been a recipient of insults or aggression in various forms just for asking awkward questions and giving a truly honest analysis.
Big respect to you for having the courage and integrity to be completely frank and honest in your presentations despite the risk of physical and verbal abuse afterwards!
Tibbs
Thanks Razor- time for everyone to submit their questions :-).
Centamin is pleased to announce it will host a virtual retail investor presentation on Monday, 30 October 2023. The event is open to all existing and potential shareholders. Martin Horgan, CEO, and Ross Jerrard, CFO, will give a brief presentation of the Company's recent results and developments at its Sukari Gold Mine (Egypt) and Doropo Gold Project (Côte d'Ivoire), followed by an opportunity to ask questions.
QUESTIONS
Investors are welcome to submit questions prior to the event through the Investor Meet Company platform or by emailing them directly to the Company at investor@centaminplc.com.
Live questions can be submitted during the presentation through the Investor Meet Company platform.
EVENT ACCESS
The event will start at 18:00 GMT (UK time). Please register here: https://www.investormeetcompany.com/centamin-plc/register-investor.
A replay of the event will be made available through Company's website.
Major European indexes traded higher in the premarket on Wednesday as investors focused their attention on new inflation reports from the Eurozone and the United Kingdom to be released during the morning. Markets are also awaiting a fresh batch of earnings reports from several US companies, including Netflix and Tesla.
The DAX gained 0.40% at 8:00 am CET, while the FTSE 100 increased 0.16%. The CAC 40 went up 0.09% and the Eurostoxx 50 rose 0.15%.
The euro was flat against the dollar at 7:58 am CET, selling for $1.05820. The pound sterling was also flat and went for $1.21859 at the same time.
Baha Breaking News (BBN) / JJ
Happy Hump y’al
Gold currently + .67 %
AusIMM Melbourne Branch, 2013 7
In the 1970s, a study for the World Bank showed
that in the first year of operation after
commissioning, 60% of the mines and 70% of the
treatment plants surveyed achieved a production
rate of less than 70% of design capacity
...(gulp)
and so on ... who counts?.. the shareholders and investors
one of the problems with mine development is that a lot of money is invested on information which is sp**** (drilling, 0.003 % of the volume of the orebosy is sampled), directionally biased (steep and commonly in one dip direction) and sometimes of variable quality (geological logging for example)..and then when you can get to metaullurgical plant design...well that is extremely sp**** information inferred by use of non linear look up tables from geology (read above). in fact i have often wondered how any of the planners can put their hand on their heart and say they think they are within 15%...in realith most of them do not perform to feas study specs!?!
https://www.amcconsultants.com/experience/why-feasibility-studies-fail
https://minassist.com.au/why-feasibility-studies-fail-a-summary/
this is a classic ... so rarely done by the mining industry, and even more rarely (for obvious reasons) made public
https://dokumen.tips/documents/why-feasibility-studies-fail-melbourne201302presentation.html?page=2
for a simple steeply dipping tabular orebody the stripping ratios increase as the depth of the pit increases. basic maths
if you have an irregular orebody, then the stripping ratio can "wander", and be a function obviously of ore geometry, geotechnical elements (steep faults some which might be missed by steep drilling)..but in general there will be a trend of increasing strip ratio with depth.
if you have surprises like you develop into a hitherto unknown steep fault (it happens), you can have wall failure and the stripping ratio goes up...as waste tonnes goes up ...
and on it goes ...
i have given a few talks about dishonesty (and a few related issues) at conferences, only to be mugged in the car park or a public bar not long after ... cest la vie ....
regards
the gnome
When compared to the extreme suffering in the wars of Gaza, Ukraine, Yemen and indeed all the other areas of the world where armed conflict is an ongoing even as we view this forum we can count ourselves to be so fortunate and so rich in so many ways by comparison.
Dasut,
Thank you for your your reply and opinion, Kees Dekker has always been of the opinion since 2016 that it is the underground grades that were never regarded seriously enough, yet they are of paramount importance to supplement the poorer open pit grades if the Sukari mine is ever going to shine!
Considering the gigantic task, time scale and associated expense to rectify the many years of errors by the previous management of the Sukari operation its no wonder if some members and long term share holders are frustrated.
So you literally went from if the strip ratio doesn't come down Horgan should lose his job
to
everything is great now, trust me, i know what i'm talking about
that's laughable
what will your view be next week, i wonder
Cowichan, Of course we can have it both ways it is called moving with the times and the all important mine flexibility coming into play. The new mine plan explains far more than we knew previously and the proof will now be in the future profits.
Yes the open pit production costs will be higher but so will be production ounces but other costs are looking to be reduced.
If Sukari was all about the open pit with grades of 0.9 and strip ratios at 10 then it would be marginal but Sukari is also a good grade underground mine hence being quoted as a world class ore body.
Horgan and his team have now set themselves targets and these need to be met or improved upon so next year is crucial to their and the mines success.
These are YOUR words posted earlier this year:
RE: Regarding Strip Ratio & 2023+ Ore Grades11 Mar 2023 09:10
Cowichan Interesting comment regarding strip ratio suggest you remove the waste removal impact in 22,23 and 24 and the strip ratio definitely reduces. So if average is 8:1 then as I say remove the first 3 years and logic says strip ratio will (should or GOT TO if Horgan wants to stay in a job) reduce.
Excellent news also is the higher grades years 25 through 29 in the open pit (hopefully justifying the waste contract).
Grades lower than 22 for 23 and 24 but increased ore both above and below ground hence forecast of marginal improvement in ounces.
--------------------------->>>>
you can't have it both ways , either you were wrong before , or you are wrong now - saying both are true is a diservice to others LSE posters and shareholders who believed things were headed in the right direction post Capital Drilling contract
Hi Dansul,
Thank you for that, the Cey SP could certainly do with a very considerable rebound!
I seem to recall you and others quite positively assuring others the strip ratio would be reduced significantly due to the costly but quite prudent Capital Drilling contract wrapping up - indeed stating the strip ratio would return near the historic average once complete -
but now - when presented with quite the opposite - it's "just how older mines" operate"
wow, there really is no wrong CEO Horgan and team can do - it's always a 'buy' rating
clearly - these elevated figures which rise year over year is new information to shareholders as nobody, not LSE posters, Centamin management or analysts have drawn attention to it
to state one thing about reducing strip ratios in the past , then pretend one didn't , is the realm of executives with stock options , not simple shareholders like 'us' - but maybe we're not in the same boat after all
Green Flag News for CEE
Alert Sent 2023-10-17 01:50:50 AM ET
Delivery preference: Immediate delivery
DJ Gold Miners Should See Results Supported by Rebounding Prices -- Market Talk
2023-10-17 05:51:00 AM ET (FW)
DJ Gold Miners Should See Results Supported by Rebounding Prices -- Market Talk
0951 GMT - Gold miners should see upcoming results supported as gold prices continue their rebound from a recent seven-month low, Berenberg analysts Richard Hatch and William Dalby write in a research note. "The gold price rise continues a rebound from lows of $1,820 an ounce on Oct. 5--levels not seen since March this year--driven by elevated treasury yields as investors weigh the likelihood of one more interest-rate hike by the end of the year and amid ongoing hawkish sentiment from the Fed," they say. Berenberg's favored gold-mining stock names include Endeavour Mining, Hochschild Mining and Centamin. The German bank has a buy rating on all three, with price targets of 2,400 pence, 130 pence and 147 pence, respectively. (christian.moess@wsj.com)
(END) Dow Jones Newswires
October 17, 2023 05:51 ET (09:51 GMT)
Copyright (c) 2023 Dow Jones & Company, Inc.DN202310170018322023-10-17 09:51:00.000001832DJNF
GLTA,
Dan
Totally agree Gnome and Sukari isn't all about the low grade open pit in the long term with strong grades underground supporting the bottom line.
The price of gold remains bullish as the market remains near the $2,000 level. What looks like a triple top pattern could easily turn into an ascending triangle with a target of $2,300 and above.