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Tibbs thanks for the links but as I say had first hand knowledge of both processes having visited Bogosu many times as they also ran a good size fleet of equipment.
Going back to the Ampella deal I don't see any additional resource added by Centamin at BW so maybe we can give someone the benefit of the doubt and say that someone saw more in the Cote D'Ivoire resources than Burkina.
How much money was spent on drilling in Burkina as against Cote D'Ivoire I don't know.
I am sure it is out there somewhere but history doesn't really interest me because it can't be changed, maybe the salesman in me always looking for the next opportunity.
Likewise at Centamin it looks as though Martin Horgan and his team with fresh sets of eyes are looking forward not backwards and that sort of forward thinking and cutting out the dead wood inevitably ruffles feathers.
What we now need is something to come to fruition with increased grades and production at Sukari with a reduction in costs clearly outlined in a timeline presentation showing when the hurt stops and there are black numbers at the bottom of the quarterly financials. Suggest this will only be possible when the waste contract comes to an end and capital expenditure flattens out.
Likewise a sooner rather than later opening up at Doropo and positive news regarding ABC will only help.
The other opportunities in Egypt are I would suggest long term and a good number of years away even though some positive news from theses areas won't hurt not sure I am looking that far forward.
Much better to listen to the wind.
regards
Gold Gnome
No---I mean Wild Tiger----- or quite Irate Tiger as I've take to calling him. You know ,the one who always selsl having bought in a bit lower last week.
Sotolo,
The majority of long term holders all taken in, me likely more than most was taken in by Centamins promises of good times coming!, the company wasn't being run as it should have been and we were being given the baloney which we all trusted was the truth, but hindsight is a great thing and we were taken for suckers more than once!
But that said at last we do now seem to have a CEO and a management team who know what they are doing, so lets hope this time its very different!
Hi,
I never realised why Tiger was banned?
Thank you
Hi Sotolo,
Sorry owe you an apology, I first read your post in haste, you weren't questioning Andrew,Maguires integrity, I was mistaken!
When I read your post more thoroughly I realise you were expressing some quite justified frustrations which most of us l have with the supposedly regulated markets.
Amazing how many successful pundits and treaders boast about their trading prowess post event!
That said I am sceptical about P.R, (public relations)
Sunshine Profits sounds just like so many of these schemes that want your subscriptions!
Tibbs thanks for the link to PR, II don’t follow His advice, if I had I would be far richer, instead I stick around here Hoc and THS watching dreams slip ever further away. If I followed PR I would sell it all now and avoid probably losing another half! All the best and as ever praying your AM is right one day!
Paul do you mean Tiger by the Tail, if so he was banned from LSE for sensibly saying a company’s share price would tumble, many on these boards only approve of bulls. Having sold out of Cey near the top, with his Russian knowledge he did brilliantly at the start of the war, then at the start of April he suggested THS might not be so good (since -30%) SLP better (since flat), also suggested Anglo Easter Plantations AEP (I didn’t buy as palm oil and pretty horrid but since up 20%), Kist (+15%) while Hoc has fallen a further 35% and Cey is about level. You can see him saying all this to me over on the THS advfn board at the start of April so I should say he is pretty brilliant while I am a dunce sticking with THS and HOC tho at least Cey has level pegged.
PM is not a old mate, I have only been reading him the last year, but he seems to call it more right than most of the others having been bearish, then in advance the rise 1680-1800 saying it would be a dead cat bounce and on down again, we shall see. But at least he gives good economic reasons rather than conspiracy theories and tea leaves.. My old mate is Gary Wagner who I have followed for years and seems pretty good, I met him in Hawaii when he took me out for some fab prawns from a van. As for AM he will have to be right an awful lot to draw level with the proverbial dart throwing monkey, hope he finally is even if the explanation will probably be wrong imho
Sorry Sotolo,
Here is the link I should have posed to your old mate PR!
Hi, I’m Przemyslaw Radomski, but please feel free to call me PR. In the next few paragraphs I’ll do my best to describe my personal story and let you know what I can do for you.
https://www.sunshineprofits.com/about-us/company/przemyslaw-radomski/
Looking forward to hearing how PR helps you beat the market!
Sotolo,
You are wrong regrading Andrew Maguire, he has the courage to record the broadcast on a Wed which is prior to the major announcements from the FED etc, and he is also right on issues such as the amount increased illegally mined and under the counter gold being traded and exchanged for oil contracts at 30% profits which is helping to push up energy prices amongst other things.
As the year progresses so does flurry of activity in the exchanging of contracts and closing of positions by big institutions in the lead up to full Basel 3.
It takes a great deal of courage and commitment to speak out against the establishment and any unfair and corrupt practice, far easier to lay down or go away.
But there you go each to there own.
You seen to value this bloke, possibly you will make your fortune following his advice?
Hi, I’m Przemyslaw Radomski, but please feel free to call me PR. In the next few paragraphs I’ll do my best to describe my personal story and let you know what I can do for you.
Przemyslaw Radomski, CFA - Biography | Sunshine Profits
I dont watch the Andrew Maguire things, but he does seem to have been banging on about things changing for a long time.
Kinesis, Basel 3 etc? Not wanting to upset Mr T or anything about AM.
However there is something wrong in a system thats lets many times more "paper gold" be issued than actually gets dug out of the ground.
Regarding people predicting------------maybe it is my perception but there seem to be more wrong calls than right. Im hoping that your call of £3 a share comes true for us soon Sotolo!!!!! I could do with some gold toe capped boots for the garden.
The day traders seem to make good calls but then lose out in a biggish rise. Making Hay used to be like that. I think we are about 1.5 times higher than when he got out many years ago and that is not taking the divis into account.
Quite irate Tiger claims to have been calling it right until recently and will no doubt claim he has made more elsewhere than he has lost in the recent rise here.
I was looking at one of the dividend sites recently and they were proclaiming that they are right 44%of the time. isnt that worng 56% of the time then? Monkey Darts anyone?
Hi Dasut,
Thank you for the explanation , from your explanation which are the most appropriate ore processing methods chosen needs some consideration a technical understanding of mine operations, possibly then the original team were out of their depth and it wasn't until a more experienced team confirmed which plant was the most appropriate that was a deciding factor in abandoning the project .
I assume there are likely operational cost differences between the two different processes
https://www.911metallurgist.com/blog/gold-ore-roasting-techniques
https://www.mogroup.com/insights/case-studies/mining-and-metals/robust-low-cost-biox-process-at-fosterville-gold-mine/
It would have helped share holders understand the Cey managements reasoning to abandon B.W. if a brief explanation of these issues had been given at the time
Tibbs
Talking of all the pundits who tend to be a bit worse than monkey throwing at a dart board with half marked up and half down, who are at least right 50% of the time (but then have no interest in sucking punters in to buy) this from Slater over on the Hochschild board “ I find it comical how Andrew Maguire can still come on every week with such conviction and enthusiasm about 'silver to imminently break the financial system' and pretend that the previous 999 nonsense predictions never happened. Maybe he has amnesia and genuinely think it's the first time he's said it.” So do I and on gold, and all the others who have been calling on it shooting to the stars and then when wrong again blame the lack of buyers on conspiracies, quite Trumpian in this fake news world of his and his friends’ creation.
Major European markets traded higher in the premarket session of Thursday amid the release of a new slate of corporate earnings.
Earlier, Daimler Truck announced its earnings for Q2 2022 rose 18% to €12.1 billion. Siemens AG's revenue climbed 11% to come in at €17.9 billion, while ThyssenKrupp AG and RWE AG posted gains in sales and EBITDA, respectively.
The DAX gained 0.21% at 8:03 am CET, while the CAC 40 added 0.18%, and the FTSE 100 declined 0.17%.
The euro was down by 0.18% against the dollar at 8:02 am CET, selling for $1.02816. In comparison, the pound lost 0.23% to go for $1.21867 simultaneously.
Baha Breaking News (BBN) / JG
Simply Wall St articles seem to be mainly generated by a computer algorithm and all follow the same format / layout. The numbers are generally useful, but the interpretation of them leaves a great deal to be desired (IMO) and always fail to recognise the broader market / global issues.
Yep, like I was saying at the start of the year- inflation would top and start to drop later this year- bit sooner than i thought- let's hope it continues. Again, as I've said many times, any recession will be shallow and it's nothing like 2008 as the drivers are different.
Tibbs I saw first hand the problems related to refractory ore at Bogosu in Ghana where a roaster was installed because this was at the time the way to process such difficult ore that can't be leached using cyanide.
The roaster didn't work so the initial company involved in the mine had to be baled out the funding organisation. Eventually a BIOX plant was introduced and as far as I am aware is still in use.
Reading between the lines because I can't find anything to substantiate the reason for Batie West being non core, would suggest together with Lycopodium , the new team decided the ore body at BW just wasn't viable for Centamin and their knowledge/Experience base.
Hi Dasut,
Thank you, it would be good if at least there is a chance to get something back, lets hope so! Also Centamin's never delivering the promised updates on these projects erodes investors trust and raises suspicions about the managements integrity and professional abilities.
As you rightly point out Egypt has not been without its problems, the farcical court case is still awaiting either a ruling, or declaring null and void should Law 32 ever be ratified by the SCC!
The withdrawn diesel subsidy dispute remains unresolved and although it may only be $20 odd million or so that amount of cash could be very useful at these times , but even though Centamin has a very strong case and would most likely win the Egyptian authorities would then have very great difficulty in paying that amount back all at once!
Tibbs Batie West was only part of the deal with Ampella and as I say if they get a couple of mines up and running we are on the right track. So not entirely a sow's ear but has delayed them getting into production but better late than never.
Exactly ,read kitco gold index.
Inflation was below forecast, reducing pressure to increase interest rates.
Possibly because dollar dropped?
Gold price rose sharply on 1.30pm US inflation news. Explain?