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Old resistance has now become support
This looks like it's heading to much higher levels over the coming weeks/months.
I think we'll be hitting this 120/121 resistance for a while unfortunately. Hope I'm wrong
Spoonington,
If you had been a member of this board for longer then you would realise that the £5 share price was part of a general discussion based on the opinion of of an old experienced Cornish miner. who knows where the share price would be now if Sukari had been managed and operated properly as it is now.
As to who is telling lies , well you obviously weren't party to what Pardey stated on the web chat phone ins and where the share price has been languishing for over three years with the huge cost of the Sukari clear up is testament to if shareholders were being told the truth or not!
Kees Dekker mining analyst flagged up concerns to the articles of 2015 & 2018 , Pardey stated that Kees had based his conclusions on flawed evidence and tried to get the article pulled, Kees offered to reconsider his evaluations if Pardey cared to supply what he claimed was the correct data, Pardey then ceased all dialogue with Kees and carried on denying what has subsequently be proven to be true, the Sukari mine wasn't being run properly!
Momentum building nicely on the chart and the macros do indeed set up the scenario for something of a breakout rally throughout 2023.
Hi Dan, love the 'we demand more' sentiment but think you're being a bit harsh?
The simple moving average of the London fix for Q4 was $1730 and the price realised usually comes in a touch below this number - hence my guess of $1721 for Q4 sales.
Also Horgan went to some length to stress they boosted production in Q3 to give themselves an easier run in Q4 and still expected to hit mid-guidance for FY22 - implying production around 114,000oz for the last quarter.
You can't seriously be accusing the management of corruption if these sort of numbers come in?
Well we are in interesting times
1. The USA is printing another trillion or 2 us$, and no one seems to care? BUthe chickens will come home to roost
2. The world is now out of love with Crypto
3. The Central Banks have yet again shown their ineptness
4. Political leaders are shown to be not up to the job, most have never had a job.
5. Uncertainty is now the order of the day
6. There are more disparate opinions than you can poke a stick at
The old reliable keeps shining and smiling at us, and I am happy to be in CEY
good luck to us all
The Gold Gnome
Equities in Europe traded lower in the premarket on Thursday ahead of the freshest reports on Germany's trade balance, the United Kingdom's services and manufacturing sectors, and the euro area's producer prices. The markets also reacted to the United States Federal Reserve speaking against cuts in interest rates and in favor of new rises in 2023.
The DAX traded 0.23% lower at 8:04 am CET. The FTSE 100 fell by 0.12% at 8:00 am CET. At the same time, the CAC 40 dipped by 0.08%. The Euro Stoxx 50 declined by 0.13% at 8:01 am CET.
The euro stood flat against the dollar at 7:58 am CET to sell for $1.06058. At that minute, the pound sterling lost 0.27% to the US currency to change hands for $1.20256.
Baha Breaking News (BBN) / JR
Repeating baseless lies over & over again will not make them true Mr T!
As for 5 pound a share, your valuation methodologies are clearly as fanciful as your other meanderings but I wish you all the best in reaching your rather lofty price target :)
Hi Wally,
Happy New Year to you too!
How lovely to hear from you . I do hope that you are well and still walking the dogs?
Yes £5,should have been the case, but then that was dependant upon mining professionals not short term scammers running the open pit, the irresponsible high grading for high dividends and short term has indeed proven to be very costly to the long term holders who lets face it were lied to!
From 2014 on there is little doubt in my mind that the BOD were complicit in running a pyramid scheme by using inside information on Sukari to their own advantage and were also complicit in the deceit of share holders, (Pardey lied to me on two telephone conversations and failed to ever answer m emails on all manner of operational issue.,}
The BOD on admission they failed to notice that there was a failure to clear the Sukari open pit waste, if that is their lame excuse then they are unfit for post, or if it isn't then they were complicit in, or condoned the deception of long term shareholders, the market and the media by Pardey and Youssef El Raghy!
One must also question the professionalism or capabilities of the corporate analysts who visited Sukari for failing to pick up on the absence of sufficient waste ore disposal!
Keep well and lets hope things will be different this time!
Happy New Year all, I wish you all the best of Health, Happiness, Success, Love, and Money.
Why it should be good? the $US rate to the Egyptian pound went more than 60% which means the expenses for Centamin should go lower and maximize the profits as most expenses are paid in Egyptian currency and gold around $1,775.
Add to that the production as they announce will be higher this Q and by 2022 year-end.
The only thing I can say if they come up with something different; it means that the management is corrupted.
GLTA,
Dan
Hi Tibbs. Did I hear £5 - about time. Happy New Year, Hope you are keeping well
The only possible big positive is averaging down having a few at £0.45 from years ago and having bought in the 80/90/120/160 -I think I am finally up 10% or so
Anyway, lets hope for a positive 2023 and SP cimbing back to £2.00 ish sometime soon and no takeover.
Wishing all health and happiness for 2023
Selling a tranche...may struggling breaking thru 120/121
Agreed Cowichan, if the previous management & BOD had been as good as at delivering sustainable and reliable guidance as they were at delivering disappointment, excuses and ever increasing amounts of "Bull****e" then this share would have been over £5 by now!
Hi Dasut & Mr Gnome,
Obviously its difficult to judge without knowing all the details or even the company criteria of how the decision to award Capital the contract was reached, although when considering the factors we do know, not least the urgency of the situation then it would seem to make sense to go with a known contractor who has the equipment available a working knowledge of Sukari with whom the company has an established a good working relationship.
Indeed in local and central government when considering contractors it isn't always necessary to go out to tender if for instance speed is a priority and it can be shown that the contractor has a proven track record (i.e. already a known company/contractor on the "Preferred List").
Unfortunately during the "Pandemic" the government of the day used 'Urgency" as an excuse not to go to tender, or even use companies on the preferred list and in the majority of instance used newly setup up outfits with no track record who charged exorbitant prices for unfit for purpose products and services!
So It is always prudent to be able to justify the contract award which it seems is where Centamin is failing at present.
goldgnome I thoroughly agree although item 2 can be overcome by employing the local dealer responsible for the equipment supply clearing customs, delivery to site and assembled ready to go.
New companies entering any new developing market is very difficult and Capital would have gone through this in their early days. As we both agree this is where they had a considerable advantage over others wishing to compete.
As a Cat dealer I was often confronted with a tender for equipment that included many items that we normally wouldn't get involved with and advised if bidding it is all or nothing.
If Cowichan has proof of wrong doing then I would suggest he writes personally to Horgan naming names but I don't see what advantage would be gained by Centamin's new team offering a sweetheart deal to Capital.
Unless there was a need to make an upfront deposit that has been misconstrued.
Yep, the only thing that moves the SP is economic data primarily from USA (there's a fair bit out this week so check your calendars). This impacts stocks in general and commodities eg. The other is RNS and we all know the date of the next scheduled one here. The rest of the rumours, twitter stuff, detail etc is all pure speculation and does zero to the SP.
See this moving much higher through the levels
Return to 200p+ is on the cards this year imo
Plus a veey healthy dividend from the present entry.
Spot on Goldgnome.
In 3 months CEY is up 30 pence.
Price is due to sentiment, its clear not many listen to this BB.
European stock markets are on track for a positive open on Wednesday, with traders awaiting the release of a new batch of economic data, as well as the latest minutes from the US Federal Reserve's latest monetary policy meeting.
Markets in Europe are also in a positive momentum following yesterday's publication of Germany's preliminary inflation report, in which the figure is set to decline more than expected.
The DAX gained 0.10% at 8:07 am CET, while the CAC 40 added 0.33%, and the FTSE 100 rose 0.28%. The pan-European Euro Stoxx 50 increased 0.14% a minute later.
At 7:59 am CET, the euro improved by 0.17% against the dollar, selling for $1.05702, and the pound grew by 0.11% to go for $1.19866.
Baha Breaking News (BBN) / JG
Happy hump y’al
Gold pushing $1850’s
Plus over 1/2 a %
Perhaps I am missing something. To go into Egypt and set yourself up as a Mining Services Contractor, you would need to have a "contract in hand". To have a contract in hand in a competitive bid process is interesting when one has no experience in the country, but does have an inkling that there are lots of speed humps...
This could be problematical if you do not know the "Egyptian system", and lets just pick a case in point...or 2...
1. employing local people (for every expat I think you have to employ 9 local people - who have next to no skills in mining services when there has not been a mining industry in Egypt?). Just how is this factored into the work flow and management structure, the bid price, the project risk analysis etc...
2. getting equipment into and out of the countries. Knowing it is a problem is not solving the problem. How do you factor this into your bid price as it represents a potential significant risk
and so on and so forth. Working in Egypt, is a very Egyptian affair, and the Mining Industry really does not exist, apart from Centamin.
So to get a new Mining Services contractor into the country, one would have to work with the contractor, and try and tie up as much alignment as possible, knowing the alignment will not be perfect.
The risk must be dealt with somehow.
What have I missed...I have tried to be brief
regards
The Gnome
I agree with what you are saying about the waste there Mr T. If they had been clearing it as they were going along, it would not have become a problem-----AND it probably would have been cheaper than doing it in one massive effort.
We would probably not have gotten the same OZ's of gold out of the ground, or the decent dividends, but things would have been going along a lot smoother and the share price would be higher than it is now. SO--swings and roundabouts but generally we have lost more by the drop in the (artificially high) share price (or even a true one) than we gained in dividends.
The high share price and dividends suited the people who got out in time and had the knowledge to do so.
Lets hope that things start to get better for us soon. I think a bit of cheer would do us all good.