Stephan Bernstein, CEO of GreenRoc, details the PFS results for the new graphite processing plant. Watch the video here.
London South East prides itself on its community spirit, and in order to keep the chat section problem free, we ask all members to follow these simple rules. In these rules, we refer to ourselves as "we", "us", "our". The user of the website is referred to as "you" and "your".
By posting on our share chat boards you are agreeing to the following:
The IP address of all posts is recorded to aid in enforcing these conditions. As a user you agree to any information you have entered being stored in a database. You agree that we have the right to remove, edit, move or close any topic or board at any time should we see fit. You agree that we have the right to remove any post without notice. You agree that we have the right to suspend your account without notice.
Please note some users may not behave properly and may post content that is misleading, untrue or offensive.
It is not possible for us to fully monitor all content all of the time but where we have actually received notice of any content that is potentially misleading, untrue, offensive, unlawful, infringes third party rights or is potentially in breach of these terms and conditions, then we will review such content, decide whether to remove it from this website and act accordingly.
Premium Members are members that have a premium subscription with London South East. You can subscribe here.
London South East does not endorse such members, and posts should not be construed as advice and represent the opinions of the authors, not those of London South East Ltd, or its affiliates.
Guys may I just add a few notes of optimism?
1) Horgan is open about the fact they don't know how big the ore deposit at Sukari is. "It is not geologically constrained, it's drill constrained. We haven't found the sides or the bottom yet." Just think about that for a minute. What they do know is Sukari will produce around 500k for 12 years. The only unknown is how much more is to come. This is good.
2) They have been given some of the best prospective ground in the Nubian shield. From what I can see, this is priced into the closing SP today at less than zero.
3) The first analyst on the results call is scratching his head saying, hang on, at these numbers, Doropo's potential is not priced in to the SP at all?
4) I said a few days back that if Cey maintained the divi at 9 for 2022 I would be turning cartwheels of unexpected joy. But this company is where it is because the previous management prioritised dividend over good practice.
5) Yep, if you're sitting on losses, or in any case, a divi cut is a kick in the b*llocks. FWIW I think Horgan is putting together a sensible plan that must result in share price growth. I can't see a better one, but I know nothing about mining. If anyone out there has a better one please can we hear it?
6) I like the fact that Horgan features prominently at every presentation the LTI rate.
7) 90p is a ridiculous price for a company of this quality. But we knew that anyway.
8) Horgan announces a minimum divi of 5c and Alex B-C asks him how will the expected upside on that minimum be paid - special dividend or share buyback? Horgan nearly chokes. This tells me to expect a full year divi for 2022 of exactly 5c. Let us hope that one year from today that equates to a shockingly low yield.
Comparing tax & royalty by country (excluding short term incentives)
Egypt 22.5% & 5%*
Côte d’Ivoire 25.0% & 6%
Mali 25.0% & 6%
Burkina Faso 27.5% & 5%
Guinea 30.0% & 5%
Senegal 30.0% & 3%
Australia 30.0% & 5%
Canada 31.0% & 3%
Ghana 35.0% & 5%
USA 47.0% & 5%
* Egypt's final gold royalty rate still in negotiations but minimum for gold set at 5% and maximum 20% according to the revised mining legislation
There is a precedent in the mega Nevada USA operations where Barrick and Newmont share ownership 60/40 - as well as the pair's joint venture at Pueblo Viejo in the Dominican Republic - and both parties are pleased with shared ownership in all the updates I read - so it's really no different with the EMRA 50/50 profit share - actually it is different in the fact that Centamin's capital expenses are fully recovered from the EMRA portion of profits - a big plus to anyone thinking to build another processing plant somewhere on the existing Sukari concession site
Anyways it's possible Newmont's new interest (or should I say newly *publicly* revealed interest - not to ruffle feathers ) could indicate Barrick would like Newmont to join them in any plans they have for Egypt - scuttling any Centamin M&A ideas I may have presumed
Whatever transpires clearly I'll be among the last to know - yet I'll read about how some others on this forum positioned themselves well in advance to take full advantage - such is life :-)
Have a good weekend all -
Stranger things have happened..
Lots of news coming up these next few months and who'd want to be out if there was a good RNS just around the corner?
17m UT sell :( I hope q1 results will be good here…
Under the new arrangements, what will the equivalent split be I wonder? - 60/40 - 70/30 - 80/20 - I seem to recall some pretty hefty royalties and taxes being bandied about and also a suggestion that calculations based upon gross output.
Anyone know or have an inkling how it may all pan-out?
Agree too Paul- nuts.
Agree Dasut- my comment on renumeration was merely a statement of what I would like to see in a public company and not big salaries with zero risk.
2021 reported today.
https://www.barrick.com/English/news/news-details/2022/barrick-set-to-deliver-substantial-future-free-cash-flows/default.aspx
Now that's a report and a half. - If only. - Centamin has been asleep at the wheel., or something more sinister.
Steve, I know Newmont as a company and they are extremely conservative and agree that a 50% share of their net profits after what would be a sizeable purchase price doesn't compute.
To think that it is only now that Newmont is interested in Egypt is way off beam, they will have been monitoring what has been going on for some considerable time. I am not sure that even the new revised terms of business will actually suit their business model. As for how Newmont will if they feel it is of interest enter the Egyptian market it will be on their terms and I have serious doubts they would need to spend millions on buying Sukari. There are a number of junior mining companies with large areas to prospect and Newmont will be closely monitoring developments in these areas.
As for the comment relating to the boards buy in and high salaries I suggest you send a question to the board but this is something they might find difficult to answer in open forum because a negative response could have an adverse impact on the SP and a positive response well could that be bordering on insider trading, not sure.
You would think that after all the money that erma has had from centamin, that they would be doing all they could to help Centamin out, regards reduced profit share, favourable rates for fuel, Cough cough Law 32 .
If they took a reduced share but Centamin could expand and produce more gold at lower costs, then they would get it back in spades.
Only proper that cey can review and renegotiate their terms for Sukari on the back of better terms for new mining entrants into Egypt.
First sentence should say "why would I buy CEY when I lose half my profits".... when "if I go into Egypt and are lots of new concessions out there, and I don't get battered with the 50/50 share, in fact a lot better deal"
Yes, but I maintain "hey would I but CEY when I lose half my proftis"... when "if I go into Egypt and there are lost of new concessions out there, and I don't get battered with the 50/50 share, in fact a lot less"... so my question remains, why would I buy CEY? I'm very disappointed that has the 50/50 didn't change when new concessions were offered at a much better rate- especially have CEY have constantly given a lot of money to Egypt with the 50/50--- what price loyalty? Where's the loyalty benefit? As for the SP, the "jam tomorrow" remains. Need s strong Q1 and Q2 and so on to demonstrate the turnaround. Sorry to sound less optimistic, but this is how I see CEY- am frustrated about the lack of share purchases by the Board- especially as they are so well renumerated- I'd sooner see Horgan's salary slashed by 80%, along with the rest of the board, and have them being paid on SP performance. Have been trading this one over the years, and accept the poor management in the past, but do think they owe more to the average shareholder.....
Sotolo, your post is so very considerate and reflects very well on your. My best wishes to everyone recovering from illness.
In terms of CEY, I have been out for a while now but am considering whether and if so when to re-enter. GLA. DYOR.
They have told us that going forward the dividend is likely to be upto 45% lower that`s why the share price is over 10% down !
they haven't cut the dividend they have hedged the dividend going forward.. at least... means at least so under promise and over deliver which is about time for this company albeit from a low point.
By cutting the dividend at this stage the directors and their advisers have lowered the takeover price for an acquirer by over $100 million. It was essential the the management maintained the dividend at least until the higher productional levels come through. By cutting the dividend now they have reduced the market cap. by at least $100 million and consequently reduced takeover price which would be paid. Fools or knaves?
Major European stocks saw gains ahead of Friday's session as the ongoing Ukraine crisis kept unfolding, with air raid sirens and explosions being reported in the Western part of the country. Additionally, Ukrainian President Volodymyr Zelensky has been nominated for the Nobel Peace Prize by a group of European politicians.
The DAX gained 0.48% or 29 points at 8:01 am CET, while the FTSE 100 rose by 0.17% and the CAC 40 climbed 0.44% or 120 points.
The euro lost 0.08% against the dollar to 1.10832 at 7:58 am CET while the pound inched up by 0.09% to $1.31606 at the same time.
Baha Breaking the News (BBN) / SP
Have every faith, Cey will come good.
Y’al have a great weekend.
What happened re Tibbs? Need to catch up.
Market. Always such a gentleman you are actually very on topic, as your and Tibb’s views like all others here are so very welcome, and it is important to all of us you are both better. Market I am particularly pleased to hear from you after your long battle and given your rare posts, Tibbs I hope your short break means nothing too awful? One gets to know voices here, and many who have gone for different reasons are sorely missed, including those who sold out and moved on. I bravely made two further small purchases yesterday.
Makes one cry ... the LONG bets make a fistful of money, the SHORTERS cry for help ... LOL What a market structure! I could bet that there are few people who get paid a lot of money who would not be able to organise a raffle for the local primary school.
Hedge funds that placed bullish bets on commodities are notching sizable returns from the biggest rally in decades following Russia’s invasion of Ukraine.
Soroban Capital Partners LP, a $10 billion stock-picking hedge fund in New York, is one of the biggest winners, making at least several hundred million dollars on the trade since February, a person familiar with the matter said. Other winners include New York macro fund Castle Hook Partners and value investor Pilgrim Global. The bet was that a yearslong drop in spending on new commodity supply and efforts to limit carbon emissions would push up materials prices and shares of producers, according to people familiar with the firms.
Commodities-focused funds that made similar wagers are posting outsize returns—about 30% in the first two months of the year in some cases—after years of poor performance.
no symapthy for the commodity middle men , they deserve everything they get, and so does their market ... with a few simple rules it could be so much better, rather than its present chaos/structure.
the gnome
Europe’s largest energy traders have called on governments and central banks to provide “emergency” assistance to avert a cash crunch as sharp price moves triggered by the Ukraine crisis strain commodity markets.
EFET wants state entities such as the European Investment Bank, or central banks, such as the European Central Bank or the Bank of England, to provide support through lenders, to soften the impact of margin calls.
Ructions in commodity markets stemming from the invasion of Ukraine are starkest in nickel, an important Russian export. Global markets for the metal were shut for a week after prices shot higher and left those with bearish bets struggling to meet banks’ demands for cash to cover derivatives positions, known as margin calls.
Of topic hope all well Tibbs , you can bounce back i am proof of that .
Geodrill ??
The “mining club Egypt” monthly event is growing at a rapid rate. #alhumdulillah
Last night especially was filled with many esteemed guests, investors and industry leaders from Saudi Arabia, Australia, South Africa, Texas, Canada and Egypt ???? , this months event is kindly sponsored by mining gurus and Industry Experts, Geodrill.
https://www.linkedin.com/posts/raadiyah-e-23410019_alhumdulillah-miningexploration-egypt22-activity-6910306582371196928-3HJP?
---------------->>>>
I'll see if I can identify some of these 'industry leaders'