The latest Investing Matters Podcast with Jean Roche, Co-Manager of Schroder UK Mid Cap Investment Trust has just been released. Listen here.
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Sunshine
H1 60-65% annual costs vs 45% annual production. H2 35-40% annual cost and 55% annual production. We have another difficult quarter and the mood may well change here otherwise a lot of heat will be heading on management's door mat as folks will ask what are we paying these folks for if they do not deliver.
Tony
Hi Mrtibbles
Thanks for your reply and great to have you back. I hope and trust that you are fully recovered.
Yes, I have followed this share up and down, including the business of the pit wall, the change of CEO, the West African exploration etc etc.
Over time I have lost £ and made £ on CEY.
For now, I am out. I note that the price is not as low as it was quite recently. All this whilst POG has struggled.
GLA. DYOR
Hi Sunshine,
It used to be more positive, but unfortunately after a narrowly averted open pit wall collapse forced the disclosure of several years gross Sukari mismanagement and the way that share holders trust had been taken for granted and then betrayed by the senior management positivity amongst share holders tends to be in short supply!
Lots of negativity here re. CEY. Not sure its merited, though.
I have no position on CEY long or short so no axe to grind. But I am following the share since I might invest once more in it, depending....
Anyway, it seems to be holding up pretty well to me. POG not great, drifting, CEY price still north of 90p, only a tiny bit down on the day as I write this.
Perhaps there are positive signs for the share, peaking up above the undergrowth?
DYOR
GLA
it isn't just this company that is suffering on the sentiment front; most small producers have had a horrid time lately. I have two others on the flat line for months
Lodan.. I agree with you. The fact that 90% of the MPI business activity reports I've read this week show a decline or slower growth and higher costs doesn't seem to dampen market enthusiasm for piling into general equities. I am seeing red flags across the board for demand reduction in the face of inflation and yet the market; prices it as if people have bottomless pockets. Gold will fly once the ordinary folk vote with their feet on most goods and services; at that point then more than perhaps 1% of americans may realise that bloomberg et al' are talking rubbish. Time will tell but I have gold at a significantly higher level than current prices mid year. The only problem is a weakening dollar at that point doesn't help FX.
Research shows that quality and value are two powerful drivers of stock market profits. After the economic turmoil we've seen over the past year, it's possible that these two factors could have an influence on the Centamin (LON:CEY) share price.
For contrarian investors looking for shares that are being overlooked by the market, quality and value are vital clues. Academic studies show that good quality, cheaply priced shares can deliver outperformance on average over time. While no stock is immune from a sudden setback, focusing on quality and value are used by some of the world's most respected investors - from Joel Greenblatt to Warren Buffett.
The Centamin share price has moved by 1.16% over the past three months and it’s currently trading at 88.6p. But what's interesting about this share is its potential exposure to those influential profit drivers of high quality and a relatively cheap valuation.
Good quality stocks are loved by the market because they're more likely to be solid, dependable businesses. Profitability is important, but so is the firm's financial strength. A track record of improving finances is essential.
One of the quality metrics for Centamin is that it passes 5 of the 9 financial tests in the Piotroski F-Score. The F-Score is a world-class accounting-based checklist for finding stocks with an improving financial health trend. A good F-Score suggests that the company has strong signs of quality.
Fair price
While quality is important, no-one wants to overpay for a stock, so an appealing valuation is vital too. With a weaker economy, earnings forecasts are unclear right across the market. But there are some valuation measures that can help, and one of them is the Earnings Yield.
Earnings Yield compares a company's profit with its market valuation (worked out by dividing its operating profit by its enterprise value). It gives you a total value of the stock (including its cash and debt), which makes it easier to compare different stocks. As a percentage, the higher the Earnings Yield, the better value the share.
A rule of thumb for a reasonable Earnings Yield might be 5%, and the Earnings Yield for Centamin is currently 14.1%.
In summary, good quality and relatively cheap valuations are pointers to those stocks that are some of the most appealing to contrarian value investors. It's among these shares that genuine mis-pricing can be found. Once the market recognises that these quality firms are on sale, those prices often rebound.
https://www.stockopedia.com/articles/why-shares-in-centamin-may-be-able-to-withstand-economic-turmoil-266930/
https://www.stockopedia.com/share-prices/centamin-LON:CEY/?aid=266930&tid=1203&bid=553&sid=58191&ticker=LON:CEY&cta=inlinebutton
Very interesting discussion on gold, monetary systems, etc...by a non gold bug ....
https://www.youtube.com/watch?v=oWba9ixlLd8
the gnome
Major European stocks stood mostly flat in Friday's premarket trading as investors awaited the latest manufacturing and inflation data for the Eurozone, set for release later in the day. As the clashes in Ukraine continued, market estimates suggested the euro area saw another hike in consumer prices last month.
The DAX, the FTSE 100 and the CAC 40 all traded unchanged at 8:06 am CET, with both the euro and the pound remaining flat against the dollar at the same time to sell for 1.10673 and 1.31347, respectively.
Baha Breaking the News (BBN) / ND
Happy Friday y’al
Anyhow on a cheerful note pog is flying up once more just now..
Lets hope so Lodan!
Fair comment , nor when after the true state of Sukari was exposed it crashed down to £1.70., then £1.30ish and then slithered down to 88p!
Unfortunately it will take a bit more truth and proof this time to propel the share price toward to those levels again!
Here's hoping!
Always getting a bad feeling ( corruption? ) with this Co, far too many unknowns … trades and extremely late transactions… how your “ back pocket”
I'm still of a mind that when gold fully breaks out of that long term cup and handle it will all be different....the grind is to break everyone's spirit and make gold seem uninvestable...when it finally happens people will miss the first 40% of the rise as they'll be so convinced that gold and miners are going no where...I've got to admit to being a little dejected to but this has been my theory for a a long time and I still believe it...the longer the grind the harder the slingshot
It's always darkest before the dawn....or something like that
Hardly boring when it went to 220p in 2020 was it?
Hi Mr Bond,
Couldn't agree more!
As you say a terrible 3 years in so many respects!
Until the ll Basel 3 compiance or Centamin geets its improved production back up ,it will be like watching paint dry.
The trading is slow ,with world wide uncertainty.
Hence not much movement in miners.
All in all a terrible 3 years.
Yup, it sure is dull, just treading water waiting for news or gold to move. I'll go and look at the broad beans growing, they are more dynamic than this!!
Really can't be bothered to watch this lately because there seems no point as he company and the share price have been so well and truly buggered, in fact as a result of past professional complacency, ineptness and deliberated deceit by certain senor management the company and share price have been knocked back over half a decade!
Until there is some tangible evidence that things have changed then we are going nowhere. the share price will just bob up and down with the POG .
Centamin in many respects is stuck in a limbo from which its escape is dependent upon Martin Horgan's future announcements of the right news, supported by the right evidence being released at the right time!
Thank you for your thoughtful response, I am certainly no expert on trading tactics, but you raise some valid points that warrant some consideration it would seem.
We can all learn from others experiences on lifes journey in all walks of life!
Tibbs
MrTibbles, you're not the bad guy in some of these recent posts which had become very personal. I have great respect for you and the quality and detail of your posts. Some of these characters should thank you on their behalf for apologizing for their behaviour. However, I have dealt with much worse and it is with regret that I have had to highlight some unsavoury issues that have cropped up on this forum. My belief is that we all benefit from diversity of views. Sometimes it may be good to heed a call. Other times not so good. I like all the cards spread on the table so I can choose the ones I want. In fact, I wasn't going to mention anything about Ukraine, but another commentator encouraged me to refer to the Nord Stream 2 gas pipeline, and this translates to very big time economics. And I did hear that the Russians were considering selling gas for gold, so I thought a post might be relevant. Sometimes, however, a post may be relevant to some and irrelevant to another. But there is absolutely no need to jump on them like a pack of wild dogs. If it is irrelevant, it will just fizzle out. Don't respond, and it will go away. My interests are short term trading which may be over a long period. In my experience, if you are nimble, it is better to sell out on highs and buy on lows, rather than just leave your stock collecting dust. In fact, passive trading is very, very dangerous in these uncertain times. Even if you made an average of £50/day times 300 trading days approx = £15,000 per year. At £100/day x 300 = ca £30,000/year. If, however, you just held stock at bought 100 p and sold 200 p, and for easy maths say you had 10,000 shares that's £10,000 profit/year. If the share price falls to 80 p, you have a £2,000 loss after 1 year. Anyway, each must do what they feel is appropriate. So, once again, thank you for standing in for the people who should have apologized but haven't as yet done so. My targets remain the same as before this unpleasantness took form, and I hope this is the end of it. Happy hunting, but difficult to catch anything this morning.
vonMoltke,
This forum has always and still is open to everyone, obviously something as awful as the Ukraine issue is going to ignite and influence a wide range of different emotions and opinions amongst a wide range of different people which will inevitably feed into a wider hopefully free open debate in all sorts of mediums, possibly even this one.
This forum is, and has always been quite different in many ways that make it stand out from most others that I have experienced, that said I don't think anyone and certainly not Sotolo is trying to bullying you or drive you away, it's just that the basis of the subject matter may well have evoked some sensitive emotions on the part of those involved.
There is a growing opinion that the idea that stock markets and traders should be allowed to operate in isolation and take no responsibility for irresponsible selfish actions that profiteer from causing pain, destruction and suffering to the rest of our planet and its inhabitants as a whole is no longer acceptable!
Our governments, our central banks and indeed in many instances the greedy self-serving and short-term thinking/actions of stock market trading rooms/traders need to be held up to account and that they must take responsibility for the overall effects of their actions.
Your point regrading investors responsibility to carry out due diligence seems fine in principle; however due diligence can only be as effective as the basis of the information made available to those carrying it out!
Unfortunately, the information presented to investors and indeed the markets is all too often not the full pertinent facts, inaccurate, less than entirely truthful, or even just purposely deceitful!
May I suggest that if you intend to stay in Centamin that you research back to some of the statements and reports (2015 on) presented by Andrew Pardey & Youssef El Raghy which may well explain to you why Centamin is where it is today.
Shares on the major European stock market indices traded mixed in the premarket on Thursday as the investors digested the released economic reports from Germany and the United Kingdom.
Reports on unemployment in Germany and the Eurozone are scheduled for release later today.
The DAX rose 0.13% at 8:01 am CET, while the CAC 40 was flat at the same time. Meanwhile, in London, the FTSE 100 slid 0.23%.
The euro was up by 0.07% against the dollar at 7:58 am CET, selling for 1.11661, while the pound slid 0.07% versus the greenback, going for 1.31254 at the same time.
Baha Breaking the News (BBN) / BU
I find there are several people on this communal chat (it's for everyone -- not just a few who think they own it -- EVERYONE!) who have banded together for no reason (NO REASON -- I have tried to be nice) and have directed undue attention towards myself. You may have succeeded in bullying others, but I find this contemptible when I have no quarrel with any of you and i certainly have not been picking fights with any of you. I have responded in a few cases to rudeness, but in an accommodating way. Bullies have never impressed me and I will stand my ground against as many as you can throw at me. I'm a fighter, if need be, and I'll stand my ground. Please check all my posts and you will see that I have never initiated anything untoward. Go check it out. Then, to the minority who have chosen to zero in on me (perhaps I'm not a member of your private club) for no reason other than I am a newcomer who posts in a different way, you can apologize by behaving in a more cordial manner. As I said in my previous post, we should be helping each other. But to cover myself, no one has a crystal ball. So each investor must do their own due diligence. But it pays to keep your finger on the button when you can. I believe I heard recently from the Gold & Silver Club to expect a low in spot Gold next month. No details. Good luck to all you investors out there. I hope you find what you are looking for.