Cobus Loots, CEO of Pan African Resources, on delivering sector-leading returns for shareholders. Watch the video here.
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C&p of email exchange:
Dear Sir/Madam
Please can you tell me is the life of mine report now due on the 1st or the 8th of December?
Thank you for your kind help.
Regards Xxxxxx
————-
Dear Xxxxxx,
The Sukari life of mine presentation will be hosted on Wednesday 8 December. Please find attached the details of the event.
We hope you can join us.
Best, Xxxx
Centamin displayed a notification on their calendar of upcoming events that they would release the “life of mine” report on December 1st then about ten days after REMOVED the note and replaced it with a note stating on December 8th they would hold a conference call to discuss the report.
Later they circulated an email which didn’t exactly clarify the date issue.
I could be wrong but it is my belief, even though other media sources are still dating December 1st that the release date for the report and the cc are one and the same, Dec 8th
With you Cowichan
I would like to see some disruption on the more than comfortable board of underperformers. Nice to have gender balance and whatever balances you want, but better to have a company whose share price is flying...and we havent seen this with the incumbent comfortable board.
Lets get traction, rubber onto the road ...
Gin and T anyone,
best
the gnome
Spoon,
The problems inherited cannot be fixed in a day. Having said that the walk needs to follow the talk (been plenty of the latter, not much of the former), and 12 months is not a bad time to achieve some evidence of the walk.
He is an inclusive manager, which means things will take longer, whilst he on baords all on the new journey. .. and off boards those that cant make it.
But he is also expected to be a leader, who gets things done, at the pace the market needs. Pushes the boundaries ...
Key things to watch is Dec 1 report and the presentation. We should hear the talk but ALSO see very clear evidence of the walk
At the moment is walking like a cautious government employee
All honeymoons come to an end sometime ... and it is about that time i feel
best
the gnome
Ho hum ...
A US inflation measure closely watched by the Federal Reserve posted its biggest year-on-year jump since the 1990s last month, adding to pressure on President Joe Biden as his White House scrambles to tame rising costs.
The Commerce Department’s core personal consumption expenditure index, which strips out volatile food and energy costs, rose 4.1 per cent in October compared with a year ago.
Battling high prices has become a central focus for Joe Biden’s economic team after recent data showed US consumer price growth jumping at the fastest pace in roughly three decades. AP
The jump represents a significant increase from the 3.7 per cent annual rise in September, and was in line with consensus forecasts.
When energy and food prices are included, the PCE price index rose 5 per cent compared with October 2020, faster than the 4.4 per cent rise in September. The data was released as part of a report that also showed personal income rising 0.5 per cent in October compared with the preceding month, while consumption rose 1.3 per cent.
Battling high prices has become a central focus for Mr Biden’s economic team after recent data showed US consumer price growth jumping at the fastest pace in roughly three decades, confounding hopes that inflationary pressures would be shortlived.
Wont be long before the new pandemic hits the next country/s
Hang onto your hats
the gnome
Shares on the major stock market indexes traded in the green in the premarket on Thursday as the investors anticipated the data on Germany's third-quarter gross domestic product growth, as well as December's consumer confidence estimate.
On the COVID front, Germany's weekly virus incidence rate reached a new high, while Italy introduced fresh restrictions for those who haven't been vaccinated.
The DAX gained 0.51% at 7:06 am CET, while the FTSE 100 moved up by 0.31% at the same time. Concurrently, in Paris, the CAC 40 advanced by 0.56%.
The euro strengthened 0.08% versus the dollar, selling for 1.12142 at 7:09 am CET, while the pound increased by 0.14% compared to the greenback, going for 1.33494 a minute later.
Breaking the News / BU
Hi Cowichan
I agree whole-heartedly with your comments but I cannot understand why you (and many other posters on this forum) seem to exonerate Martin Horgan from any responsibility & treat him as some sort of "sacred cow".
He has been CEO for an ample period of time now & I am yet to see any significant results - a lot of talk & "engagement with stakeholders" but very little in terms of actually setting & accomplishing meaningful goals which is what will drive improvement in share price.
In my experience, when you take on a distressed work out role as Horgan did with CEY, whilst it has its difficulties, you are pretty much given carte blanche to implement programs to achieve the turnaround which, if you know what you are doing, makes the task relatively easy. As is reflected in the share price, the progress of the turnaround so far has been pretty lacklustre.
I am not saying he is doing a bad job (not when compared to previous incumbents) I just feel his performance to date has been ordinary at best thus raising my question as to why he is treated with such reverence by some members of the forum?
No matter the progress I shall maintain my CEY holdings as I believe it to be undervalued & it continues to provide a healthy yield. However, improved performance of the board including & most importantly the CEO is needed on all fronts if we long suffering shareholders are to have any hope of a share price recovery.
RazorsEdge,
Its an absolute tragedy, those poor soles who paid big money to trafficing gangs only to be put in an overloaded inflatable and left to captain it themselves. Ended up paying the ultimate price. Action needs to be taken immediately against these people smuggling Mafia groups.
A look at the lack of progress Centamin PLC's board of directors (BOD) has managed since the Denver Gold Forum Presentation of 2018.
- Doropo in Cote D'ivoire was listed as a 'Medium' term growth project. Turns out the BOD is no more confident today as to the project's viability. Only informal comments to date place production post 2025
- Cleopatra in Egypt was listed as a 'Near' term growth project. Still waiting to hear if Cleopatra will even be added to low grade open pit resources.
- Batie West in Burkina Faso wasn't listed as 'Near', 'Medium' or 'Long' term - even though at the time it was the most advanced, shovel-ready project. Why?
- Sukari regional exploration was listed as a 'Long Term' growth project. Turns out this might provide truckable ounces to the existing plant BEFORE all the other 'Near' or Medium' term projects are even approved.
This backwards planning and execution shouldn't occur with a functioning, competent board.
#mining #gold James Rutherford Martin Horgan Ross Jerrard Sally Eyre Mark Bankes Marna Cloete Catharine Farrow Hennie Faul Capital Limited Buchanan Barrick Gold Corporation Endeavour Mining Corporation Mining Weekly
https://www.linkedin.com/posts/don-lawson-98619370_doropo-project-centamin-activity-6869379913082826752-htcA
Denver Gold Forum slide presentation image here:
https://twitter.com/DonLawson_/status/1463615318341808129
-------------------------------------->>>>
Apologies to those CEY investors wanting to turn the page on all this ancient history.
Don't get me wrong, I have great expectations for our new CEO - but I have very little faith in his old board of directors. But, miracles have been known to happen... especially around Xmas
I feel everybody's pain that is invested here as I have shares in POLY which has been hammered this week. I am looking very closely at CEY as I think the fact that its mine is in Egypt and that it only has one producing mine means that a lot of investors would consider it too risky which probably means this is the most undervalued UK listed gold producer. I dont expect the price of gold to go anywhere for the remainder of the year now as central banks are not going to make any new big decisions before the end of the year, it has been a very frustrating year for gold investors as we have watched all sorts of assets such as bitcoin and some low quality companies share prices jump whilst our main holdings of gold and gold miners have done very little for months. I am going to have a long think about whether to sell some of my bluechip shares to buy CEY because I think the possibility of this company being severely undervalued is quite high.
Anyway, this video is a great reminder to why we are betting our financial future on this yellow metal: https://www.youtube.com/watch?v=5_l-3vEGy8g
Some other things to think about when we have poor weeks like this:
commodity prices are going nuts causing consumer price inflation, this has happened whilst the dollar has been strong, what will commodity prices do should the dollar fall?
I think the case for $100bbl oil is high. Governments are patting themselves on the back for turning their back on oil and trying to stop funding for the oil industry. The world is not ready to be weaned off oil. Electronic vehicles are a long term answer but we are a long way off. Also all that electronic vehicles are doing is making natural gas the new crude oil because they run on electric that is produced mostly by gas-fired power stations. If and when oil prices go to $100bbl then I see inflation going much higher which will be good for gold
I think my message is keep the faith and think longer term when invested in gold miners. Whilst the share price does not look cheap historically, when you consider the price of gold now and the price of gold when the miners had a lower share price you will see how undervalued the sector is in relation to the price of gold.
Hoping to join you all as CEY shareholders real soon!
Thirty-one migrants headed for the UK have drowned in the English Channel near Calais after their boat sank.
I see two ways forward:
A) Gold is finished in the short and medium-term
B) Nothing changes at the Fed; inflation goes berserk and gold finally moves
It's not looking good for CEY in the short-term. Maybe late in the year/early next year and/or if the equity market crashes.
I look forward to the USA Senate hearings on the FED appointments. I hope Senator Warren is in fine form and again rakes over the Cabal corrupt activities and how self serving they are at the FED and being led by the 3 monkeys management oversight rule of see no evil, hear no evil and say no evil. I hope she calls for a full blown FED audit so everyone can see the mess they created and ask where has all the gold at Fort Knox gone.
Feels relentless for goldies at the mo, just relentless… the new fed chair overreaction is nuts and yet the nuts simply continues each day- at some point will reverse
Well, tell that to the 90,000 Russian troops now stationed on the Ukrainian border. Cutting gas to Ukraine doesn't stop them joining NATO. This is geopolitics, not economics.
Why would Russia need to go to war, all they need to do is cut back gas supplies leaving Ukraine needing subsidies fro the US . Ukraine may default on payment but it would be shrugged of.
Putin clearly sees Ukraine's nearing accession into NATO as a casus belli with an expiration date. Once they're in, they're in, and they're safe, but prior to formalized membership there's going to be this awful window of inevitable escalation where Russia considers the expansion of NATO to its borders as an unacceptable intrusion on its sphere of influence.
How it's going to go is unclear but the sooner they join NATO the better - it needs to be months now, not years, if a conflict is to be avoided, but that seems unlikely given NATO's timescales. So perhaps the next best thing is withdrawing from the process completely and remaining a buffer "third world" country. Barring accession or withdrawal from talks, Russia will unfortunately probably look to play the cards in its hand - which at present, are an overwhelming military advantage against a still isolated opponent.
Tomorrow is U.S.thanksgiving holiday. - Might this be a good time to make a move? - I'm sure they'll be watching-out for it.
I think price and volume are equally important.
This is due to the fact that revenue ( and profits ) is the product of them both
I like to equate things back to impact on earnings per share ..
Each $100 rise or fall in the price of gold, increases (or decreases ) the EPS by 3.7 cents per share .(if my rough calculations are correct ) .quite substantial in terms of the previous forecast EPS of 10 cents per share for the whole year .(assuming constant production levels )
$100 is about 5.5 % plus or minus the current price of gold .
On the other hand if production rises by 5.5% from 400,000 to 422,000 but gold price remains the same then EPS will rise , but only by 1 .5 cents per share
The reason is because extra production ounces incur extra CASH production costs of circa $1,000 per ounce (with fixed costs remaining the same) , whereas increases or decreases in gold prices increase EPS by the whole amount if that makes sense
What we really need is both higher gold prices and higher production levels to state the obvious.
On Monday, Ukraine conducted fresh military exercises outside its capital, Kiev. This was accompanied by fresh airstrike drills along its border region today. The escalation comes as thousands of Russian troops remain massed along the border between the two countries.
The head of Ukraine's defence intelligence agency, Brigadier General Kyrylo Budanov, warned an invasion could come early next year.
The latest drills conducted by Ukraine have involved airborne troops.
Ukraine has also moved armoured personnel carriers into positions within its territory,
The combined units then conducted a simulated attack on an enemy target,
The drills were filmed and the footage showed the landing of troops supported by helicopters and other aircraft.
Ukrainian Brigadier General Kyrylo Budanov announced that intelligence reports suggest that more than 92,000 Russian troops have gathered in the area of the border between both nations.
Ukraine stated that the troops could be preparing for an attack by the end of January 2022.
This isn't about the changing fortunes of Cey, it's about reinforcing the Liberium brand in the investors domain..think of it in terms of free advertising
Today Wed
WTI crude rose more than 4% over the last 24 hours to retake $79/bbl after the Biden administration announced plans to release 50M barrels of oil from the U.S. Strategic Reserve, along with China, Japan, India, South Korea and the U.K. While the move was meant to lower prices, the volumes announced were much less than the market was expecting and would need to be sustained over a longer period of time. Many of the barrels will also need to be returned by the refiners who buy them, leaving traders forecasting tighter balances.
Quote: "I told you before that we're going to take action on these problems. That's exactly what we're doing," President Biden said from the White House. "It will take time, but, before long, you should see the price of gas drop where you fill up your tank, and in the longer term, we will reduce our reliance on oil as we shift to clean energy."
Meanwhile, a large portion of the barrels is set to be exported to China and India. That's because the supplies will comprise of sour crude, a type of oil that many American refiners are avoiding due to its high sulfur content, which makes it more expensive to process. Foreign buyers are also attracted to the oil since it's cheaper than the global Brent benchmark.
Go deeper: Following the decision, some are even referring to the U.S. emergency stockpile as the Strategic Political Reserve, with the president under pressure to tamp down inflation. OPEC+ is also scheduled to meet in a few weeks and could unveil a counterpunch if the group feels threatened. The cartel would need to give up two months of output increases to offset the 50M barrel release, after snubbing several requests from Washington to pump more oil. The U.S. national average price for a gallon of gas was $3.40 on Tuesday, according to AAA, more than a $1 increase from a year ago.
Fair comment's Somnamna,
Martin Horgan is a very decent chap, professionally experienced and very capable of doing what needs to be done at Sukari.
I once worked in the public transport industry and I feel confident that when Martin Horgan's bus finally arrives it will have been worth waiting for and the ride will be comfortable and very reliable for many years to come!
I agree far too much worrying about the daily POG and lets face whichever US president has been in office the FED & the Wall Street cartel have always hammered the POG to promote the dollar.
Martin Horgan is a man who only has one way of doing things, properly!
Anyone would think Liberium have an alterior motive.
Seems a little strange reiterations then changing by just a few pence. While the coverage is still sell. Why does 88p target need to be changed to 87p strikes me as odd. Can't think of any other stocks where a 1p change would require an update.
24 Nov Sell 87.00
16 Nov Sell 87.00
19 Oct Sell 88.00
23 July Sell 82.00
13 July Sell 82.00
I agree the people really desperate for a mirraculoue rise in the SP are traders and short term investors. But with all farness Hogan cannot rush anymore the production .
They have put in place measures to cure the predicament,and offset that by continued divi's.
Which give reassuance to Institution as well as private investors.
The real graft moving waste ,is in place. It's difficult for patience but a little more of that is needed.
Once production starts rising then lower costs ,the new prospect can be futher invested in WA and Egypt.
Although I suspect prospects close to Sukari are already being looked at carefully.
IMO.