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1 with Centamin's accounting firm PWC
1 with UK's accounting firm watchdog
1 with FCA
1 with OSC
and 1 with what I'll call 'other' for now
that's probably keeping Mr Horgan busy ( so busy the CFO gave the Denver Gold Forum talk?)
A word about current CFO Ross Jerrard - he did serve as Interim CEO from December 2019 to April 2020 while the last CEO Mr Pardey considered his retirement
Caveat: I'm not downramping as some like to comment - I've no intention of buying shares until the important accounting questions/concerns I've alerted regulators about are addressed publicly
Yes indeed Steve, and more the 10 year Tip real interest rate is now 2.2% a rate not seen since rates shot temporarily higher in 2008. Interesting thing is gold then soared 250% to 2011 as interest rates fell. We are not there yet, as you say, but when….. it is this that will have a far bigger effect on Centamin than mining a few more ounces or slightly lower Aisc
Great interview - a must watch for any mining CEO (or resource extractive investor!)
the fixable problem is never the gold price , but managing corporate expenses - if enough thought is given to building in profit - to h*ll with 'market manipulation' , the US economy or triple witching expiries - cuz it won't matter
why the gold mining industry is fraught with pump & dump share $ disasters is probably the caliber of executives lured into the industry , for some reason there's always a fresh crop of 'end of the world - gold is going to the moon' types ready to give them their money
Https://goldseek.com/article/comics-bidenomics-all-revisions-go-down-all-time
This is a good article that sums up how bad things are getting State side. Looting and shop lifting is getting so bad over there that retail in USA is going to the web and avoiding physical contact. Gangs are now targeting delivery drivers and the distribution system. USA is reminding me of what happened in South Africa in July 2021. How the currency can go higher is just unbelievable.
Whatever game they are playing on gold they certainly used up 20% of their fire power on open interest this week.
I'd never have predicted the US 10 year a couple of years ago to be at this level- why buy gold... this will, of course, change at some point!
Its the selling in the form of paper gold in order to encourage the buying of US debt in bonds order create the illusion that the dollar is stronger than it really is, that is the problem.
Run it like a real business' - B2Gold's Clive Johnson has a fix for the sector's slump
https://www.kitco.com/news/2023-09-29/-Run-it-like-a-real-business-B2Gold-s-Clive-Johnson-has-a-fix-for-the-sector-s-slump.html
Could it be the US have deliberatly driven gold down ,so it can be bought cheap ,to help cover bog paper they like trading called futures .
Their economy is grim, their debt dire.
Yep they keep stockpiling and yet the price is still below it was 3 years ago.... real terms with inflation factored in, gold has been a poor investment in last 3 years.
Looming credit collapse sparks rampant Eastern gold stockpiling.
Alasdair Macleod to examine the East’s blossoming relationship with gold as they’re beating the markets by securing local currencies and commodities against its value.
https://rb.gy/o6053
Centamin Plc
@CentaminPlc
🥳☀️⚡Celebrating 1yr of #solar power generation at #Sukari. Since commissioning last September, the project has successfully saved ~22m litres of diesel and lowered emissions by ~59kt CO2-e.
➡️Plans are underway to expand it!
#CEY #SolarEnergy #decarbonisation #Mining #Egypt
----------------------->>>>
the Centamin PR team hard at work on twitter (earning their well deserved share bonuses)
You can make money on trading this stock- but you have to trade it- I work on my strict rules on S/L and T/P, but sometimes let the T/P run over and this is sometimes a mistake.
I don't make all the time, for example, I got it wrong the other day and lost 1% which is a fair slug to some, eg I traded £88k that day.
I so not trade randomly, but around key data points and markers.
This represents a very small part of my overall investments, as I've said before- balance is key, and PMs are my second highest risk next to crypto.
I see PMs as a very high risk, but with every high risk there is, of course, very high reward.
Everyone has there own investment demands and strategies, and I wish ALL good luck with however they invest. It makes the world go round.
Have a good weekend and GLA.
Wait and see Raz, next year when the extra waste clearance contact concludes the CAPEX will fall off to more normal levels and AISC should reduce which should increase profits.
The thing is Mr T -----You, me . "the man on the train", Siko etc believed what we had been told and were holding at 220 and looking towards 300 plus. We are now almost a third of that price. Without checking, I think my average is around 105ish now, with today's dividend. You always get people who come on and claim they have made money trading and "This share is so predictable". Years ago, " Making Hay" seemed to call this share very well and put up his dealings in real time, but then he got out around the 55p mark and so missed the rise to 220 plus. Having said that, he also missed the fall! BUT we are 60% higher than when he got out and that is without all those dividends.
As has been said many times, either the share goes, up, down or remains the same. Some people claim to be right more often than they are wrong (lets give them 70 to 30%) but I find it hard to believe that people got out near the top and have been successfully trading it on the way down. I know a couple who put up that they were getting out near the top and I think one made a few quid on THS which has now halved from it's peak and it about 30% or so below when they recommended it.
With anything, people will make predictions and the chances are half will be right and half will be wrong. I think some people were saying that inflation would peak and rapidly drop by September last year. Also a year or so ago people were predicting gold at $3000 dollars an ounce and others, a bit later on at $1500.
Have a good weekend and lets hope that we get to some brokers target of 320 sooner rather than later.
And add Mr T- with your attitude, I'm gobsmacked that you have held all these years.
CEY only recover with the recovery of Western nations.
This isn't on the horizon unfortunately
My attitude to this share Mr T? Have not read any of my comments over past few years?
I'm a TRADER!
I go in and out a lot.
So, had you had my attitude to this share, you wouldn't have been out a long time ago, you'd have been in and out multiple times over and still doing so.
Dividends in acc ,waiting to be reinvested now, hoping Sp stays low then....shameful...atb
I took a punt on this a few weeks ago despite it being on a downward path. Was just hoping it may return to £1+
Simplywallst says its undervalued. So we're &*£@ed!!
Fair comments Somnamna,I am certainly guilty of becoming too emotionally attached to this share and far too trusting in the integrity and indeed mining professionalism of the previous management, but that said credit where credit is due Pardey and the previous senior management were certainly dab hands at glossing over the true facts and stringing the share holders along with promises of good times just around the corner!
In hindsight long term holder are now all too aware of just what was waiting for us around the corner and it certainly wasn't a good time but a very costly and drawn out reality check!
But possibly its understandable why long term holders should forget the danger of becoming emotionally attached to a share when considering the Eygptian political turmoil and all the other challenges they faced together and got through!
I realise had we had Steve's attitude towards this share then likely most of us would have bailed out a long time ago along with Josef and the others, but we were all far to decent and far too trusting, but as we now know the market and certainly the company directors have scant regard for either of those virtues or qualities!
But that said it is they who are still the stinkers!
Lets hope though that at last before too much longer Centamin will finally deliver rather than disappoint!
The point about grid connection is that whatever energy is available it will be much cheaper and much greener than trucking diesel to sukari and running piston-engined generators off it in 45C.
European stock market indexes traded higher in premarket trading on Friday as oil prices slightly decreased but were on track for a 2% weekly increase. Investors are currently analyzing inflation data from Germany and Spain and consumer confidence in the Eurozone. Furthermore, a significant amount of economic data awaits investors in the region, with particular focus on the September inflation report for the eurozone.
The German DAX gained 0.59% at 8:00 am CET and the UK's FTSE 100 rose by 0.16% simultaneously. France's CAC 40 was 0.13% higher while the Euro Stoxx 50 increased by 0.23%.
The euro was 0.11% above the dollar at 7:59 am CET to sell for 1.05766. At the same time, the pound sterling gained 0.15% against the greenback to sell for 1.22214.
Baha Breaking News (BBN) / RR
Happy Friday y’al
*Dividend Day 🔔
Enjoy your weekend!
Of course, the process of getting to this position has been very complex.
As for future… GLA… stick your own markers and data points
Yep- gold price is lower than 3 years ago, the bond yields are massively higher, and due to inflation the costs of mining are massively higher.
No wonder the SP is suffering like the whole sector.
Basic economics- when your costs rise much much much more than the value of the product you are selling.
I don't doubt what you say Tony, but as a, partly unintentional, long term investor I am wary of buying more.
My own fault but for part of my investment I have been caught in the it will be better in two years syndrome.
My current average is 110 per share. In the more recent past I am using a more focused and unemotional approach to trading, so may top up, but when is the right time to do so.