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Altair has a certain resemblance to some fringe dwellers that I met. Like to know what changed hands for them to get the permits ...
CEY handling by new mngt of this Burkina assett will be of great interest,
thanks
the Gnome
There are two separate BF issues regarding forfeiture of concessions & assets.
The first is a lost cause because Centamin already forfeited these (we just learned) about two years ago - Mr Horgan spoke of it briefly on the last quarterlies (it's at the 50 minute mark if you want to hear it)
Those gold resources are now in the hands of these guys:
https://www.altairresources.com/the-burkina-faso-opportunity/
Specifics:
- Altair Resources signed a binding agreement for a 90% ownership and 10% Burkina Faso Government ownership for an open pit, 3 deposit, gold exploration project containing 1,388,120 oz of gold (Historic Estimate) at an average grade of 0.95 g/t (COG @ 0.5 g/t).
- The 3 deposits are located in the south west of the country and 35km from Centamin’s Konkera project of 3.1M oz.
- The project is located in the safest area of Burkina Faso, a mining friendly jurisdiction.
Altair has commissioned a NI 43-101 Resource Estimate and completion is expected late 2021 or early 2022. This will be followed by a PEA.
- 387,596 m of drilling & 294,504 core samples completed from 3 deposits.
The second is in regards to the currently held Batie West deposit (which is an exploitation concession - i.e. permitted ready to mine) which is about to expire in November 2021. You are correct in pointing out Centamin has decided not to develop the Batie deposit by themselves and have stated they may want a partner or simply divest it.
By all means I agree with this plan - the trouble is if they wait much longer the only option remaining will be letting the permits permanently expire - which I suggest isn't the smartest path forward. I'd hate to think Centamin's board are waiting this long because they're a) too busy or b) figure it's not worth the effort - as as some current shareholders also seem to think.
Be that as it may, I'm not satisfied that the board is keeping shareholders in the loop as to what the current status of Batie West is and I would like to know all avenues are being pursued to sell/develop before we forfeit said assets, again.
So to recap - tens of millions (more probably hundreds of millions) of potential value has already been lost to Altair and a greater amount stands to be lost (to who knows, maybe Endeavour ?) if Centamin's board of directors don't negotiate a deal very, very soon.
They'll print their way out of bankruptcy.
Cowichan ...are you referring to the gold reserves found of 2.2 million ounces that was mentioned in a previous RNS , earlier in the year ?
My understanding is that it is not economically viable to extract the gold , so it is being held for sale (at its exploration cost of approx $ 36 million ). Obviously if this is the case, then any 3rd party would have to pay for this outright and also be able to extract the gold at a reasonable margin ...a project that Centamin doesn't itself want to do (even at marginal cost )
I am not sure when the deadline that you refer to for forfeiture is , but if it does come to pass then Centamin would have a write off against profits amounting to $ 36 million....ouch !
Are you talking about something completely different ?
The FED is simply trying to cover up the fact that in reallty the US is Bankrupt, from the Amrican public as is their two party political system.
The only ammunition they really have is US $ is World Resrve Currency for the foreseeable future.
Typos corrected
Powell claims the FED acted forcefully once they knew committee members were trading, The FED were aware of the behaviour and what was going on a long time ago. They only acted when Senator Warren took them to task and there was nothing forcefully going on beforehand.
The fact they dress up this statement and present with different rhetoric advertises the complete indifference to moral standards and leadership in that organisation. Powell presents that response in a way as if the global public and media are completely and utterly stupid. Powell has systematically undermined everything the FED was suppose to achieve and trundling along as if nothing was wrong does not cut it. Biden saying he is embarrassed at what happened in the USA Federal reserve Bank is not good enough. To borrow a phrase from Trump, its time to clean up the (FED) swamp.
Yup time to close up.....I m reminded of something i read about Mugabe and how he declared to print away all his problems and we know how that turned out....the US seems exactly the same except they claim now they are just going to go a fraction more slowly down the same road....
Ooops! I can see you’ve responded on the POLY board , thanks. Right, now to watch the footie :-).
He has talked about rates and inflation and he will act to changing conditions. He's said what was expected. He can't spook the markets and there is no reason to. What did you expect him say?
Well done Cowichan!
I am looking at this FOMC baloney 15 billion taper a month and no talk of rates whatsoever.....I am trying to find an analogy..alcoholic cuts out 1 small beer a day and carries on as normal....I'm not sure that really cuts it...alcoholic vows not to drink the last drop in each can ? I am surprised gold hasn;t exploded upwards....inflation is left to roam freely and a taper of no consequence that they will cancel out(and alot more) behind the scenes meaning THERE IS NO TAPER...it;s just for SHOW
In the title.
Vol. Sold 2,571,336
Vol. Bought 7,135,711
https://www.linkedin.com/posts/don-lawson-98619370_gold-burkinafaso-activity-6861711133250723840-sxAa
------------------------------>>>
Tick, tick, tick...
I notice also ,3 from Shalateen Minreal Resources.
I wonder why.
Unless something is blowing in the wind.
https://www.linkedin.com/feed/update/urn:li:activity:6861428239311650816/
27 people from Centamin PLC viewed your post
21 Barminco
14 Maaden
3 Gold Pyramid Group
11 SUKARI GOLD MINES
3 Shalateen Mineral Resources Company
5 Endeavour Mining Corporation
2 Aton Resources Inc.
Plus 11 Executive Directors of unknown origin
------------------------------->>>
Loads of people from Centamin had a looksee - perhaps as expected BUT new to the party is Endeavour Mining - not a positive sign in my book. I very much want Dear Uncle Sawiris to keep his bloody distance!
90p held but if resistance is broke then mid 80's. To buy or not? Go on little lemmings sell sell sell..
Sub 90p it's coming up, it's like taking candy from a baby..
Thanks Mr Bond
No, I was actually looking at sun baking in Khartoum.
I dont think the investment world has worked out, that with the Panama Papers (and alike and threat of more) and the anticorruption legislation, that doing business in a lot of prospective countries is not going to happen. Back in Oz land access, is a joke (drill programs delayed for 2.5 years and waiting), and the politicians dont get it, as they dont have to do it...and are generally of such limited intellect
Love the way the economic modellers have got it so far wrong. Predicted the pandemic was going to decrease house prices by 20 %, but we got increases of 30 %. Their inflation modelling by the econmists is a joke (dont know fuel and house prices through the roof, council rates, food, alcohol etc), and now going to up the interest rates...and lets spare a thought for the inspirde round of tax increases to pay for the bail outs....
I think gold is going to up.
the gnome
I'd love for us to be able to see the chess-board and pieces they are playing. - If we could, I believe it would be a shocking sight, revealing/explaining so much of the mystery surrounding events over the years. - Keep going Cowichan if you can. - Keep throwing your pebble into the Sukari/EMRA-pond. The ripple-effect is becoming quite intriguing.
Cowichan, I love the views and thoughts...
here's hoping for some positive skulduggery
So what's to be done Sotolo?
My word if things get really bad and the POG keeps falling,?
Oh what if he next quarter is worse than you think it may be?
What if it were even more terrible than you thought and AISC rise even more than you feared?
What if Centamin is making a loss?
The United States Won’t Survive What’s Coming?
On Thursday, October 28th, 2021 the SP500, the NASDAQ, and the Dow Jones Industrial Average all hit new record highs. The United States now has more job openings than any other time in history, and to top it all off a cryptocurrency based on a Japanese dog became worth more than 50 billion dollars. What we are seeing right now is both shocking and unprecedented. In today's video, we explore the unexpected developments out there beyond wall street, evaluating a foundation that is begging to show massive cracks, one that threatens to bring down the entire system.
https://www.youtube.com/watch?v=evomCDXiIfI
Goldgnome, don't take your vacation in Egypt, ;-)
All depends on the FED
Possible top up price coming today, let's see?