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7 million shares bought tonight , shows confidence !
'If Capital gets another Sukari-type contract in the next nine months (highly likely, say reliable sources) the swing of the needle to the upside would bring about a serious share price re-rating.'
'Contract mining may be the big new thing for Capital, but don't forget assay services, said Berenberg.'
'The broker's mining analyst Richard Hatch has highlighted Capital's geochemistry business, dubbed MSALABS, which he believes could grow group revenue by around 20%...'
https://www.capdrill.com/news/capital-limited-has-never-had-it-so-good-mining-journal-article
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My Thoughts:
Capital's new Egyptian assay lab in Marsa Alam should be up and running within weeks.
I hope it is in anticipation of a BIG new deal with Centamin - expansion has been long overdue.
Dear Don Lawson,
As per our website and corporate communications, Centamin does not hold the exploration licenses you are referring to. Exploration was carried out on these licenses in 2015-17 and no commercial discoveries were made. For further detail on the Batie West project I would refer you to the announcement made on the 27 May this year. For ease please find a link here: https://www.centamin.com/media/2403/west-african-portfolio-confirms-growth-potential.pdf .
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So then we NOW KNOW Napelapara and Wadaradoo are GONE. So I added this question to our LinkedIn thread :
---->>
Will Centamin PLC confirm Altair Resources has now purchased those previously held #burkinafaso resources Centamin PLC's shareholders financed & drilled in 2015 through 2018 as indicated in the press release below?
Altair Res. announces the signing of a binding agreement with three arm’s length private individuals.
Extensive diamond drilling, RC, trenching, air core & auger work totaling 387,000 meters have been completed. Approx. 100km of diamond drill core from previous exploration has been logged, indexed & stored, & are available for Altair’s geologists.
The May 2018 Estimate disclosed in a report by the Sellers does not comply with NI 43-101
Altair will make a cash payment of US$2.3 million to the Sellers, & upon the completion of Form 43-101 additional US$7 million.
At the end of 2nd and 3rd years an additional US$9 million.
At the end of each of the 4th and 5th years US$10 million.
Altair Chairman/CEO, “We are extremely excited to acquire such an advanced exploration asset having nearly 400 km of drilling
https://lnkd.in/eckmrDRv
Martin Horgan Craig Murray Marna Cloete Catharine Farrow Sally Eyre Ross Jerrard James Rutherford Mark Morcombe Norman Bailie Wayne Koshman
------------------------------>>>
My Thoughts:
Until we find out if indeed these Altair concessions are the missing concessions I'll reserve judgement.
But if it turns out these ARE the relinquished concessions - what then? Are shareholders just supposed to yawn and look the other way at Centamin's purposeful silence, denial and indifference?
Does this amount to criminality? Who are the three arms length individuals? Who on the board of directors approved vs resisted allowing these concessions to be relinquished and to what purpose?
Altair Resources is so very excited to get these concessions and are BOASTFUL of all the drilling and exploration work done. They are also in possession of a maiden resource estimate - no it's not yet NI 43-101 compliant but apparently it's just a matter of having the right personnel i.e. qualified geologist crunch the data already available and sign off.
Boom, instant open pit reserve/resource ready to mine.
How is that not a substantial loss to Centamin shareholders?
hi Cowichan,
I assume you submitted this query to Centamin IR?
Best to forget texts for the purpose of this exercise, texts get over used and for purposes that are inappropriate in all walks of life, also they are all to easily lost by all parties concerned.
Hi Candid,
I don't mean to state the obvious but save all your questions & any responses ,or not as the case may be to a file for future reference should they be required.
Altair Resources today announced the signing of a binding agreement with three arm’s length private individuals...
Extensive diamond drilling, reverse circulation drilling, trenching, air core and auger work totaling 387,000 meters have been completed...
...approximately 100,000 meters of diamond drill core from the previous exploration program has been logged, indexed and stored, and are available for examination by Altair’s geologists for further sampling and analyses.
... the Historical Estimate was disclosed in a report provided by the Sellers to the Company with an effective date of May 2018, the estimate does not comply with NI 43-101 on the date the Technical Report was prepared
...Altair will make a cash payment of US$2.3 million to the Sellers, and upon the completion of Form 43-101 with a minimum combined indicated and inferred resource of at least 1.3 million ounces of gold, Altair will issue 3 million shares and make a further cash payment of US$2 million to the Sellers
...on each of the events of reaching commercial production of (1) at least an annualized rate of 90% of the production contemplated by the FS from stable production of at least 6 months, and (2) at the end of the first year of commercial operations, Altair shall pay an additional cash consideration of US$7 million...
...at the end each of the second and third years of commercial operations, Altair shall pay an additional US$9 million of cash consideration...
...and at the end of each of the fourth and fifth years of commercial Operations, Altair shall pay additional cash consideration of US$10 million...
Altair Chairman & CEO, stated, “We are extremely excited to have entered into a Binding Agreement to acquire such a quality, advanced exploration asset in a very prolific gold producing region, having nearly 400 kilometers of drilling already completed on the prospects. Altair believes these prospects are ready to be quickly advanced to the PEA and feasibility stages with relatively minimal additional investment and time requirement. We are also pleased that most of the purchase consideration comes with significant milestones in the advancement of the properties and after the commencement of production.
An arm’s length finder’s fee will be paid in connection with the transaction.
--------------------------->>>
My Thoughts:
If somebody wants to inquire with Centamin all I have to add is:
Who else but Centamin would have drilled and logged that many meters of core samples that close to the Batie deposit WITHOUT issuing a maiden resource estimate for all the time and effort spent?
If this is Centamin's concessions being sold off do the shareholders not have a right to be told?
https://www.altairresources.com/altair-to-acquire-marbera-2-permit-in-burkina-faso/
Yes I have discovered that .
Will do it today. .my texts were addressed to her
Let's see if my email , condensed into three short paragraphs will provide more success
A very fair assumption Candid, seems very logical ,except that the FED Cartel have control of the Comex dumping levers and they care not a jot about the regulators because they control them as well!
email is the more appropriate way .
Please email your questions FAO
Alexandra Carse
Head of Corporate Communications
E: investor@centaminplc.com
Excellent drunkinit, especially the point made in the last line of the last paragraph!
Previous presidents have announced in a run up to elections how they will control government spending and debt but all of them after they get into the White House change their agenda. The question is why? And the answer has to be the Swamp. And the US military and their family are the biggest and loudest members of the swamp. Trump told us he was going to drain the Swamp... and his increasing military spending on new weaponry etc was his first job because he knew the military were a powerful lobby. He bought them off. But not only did the military demand more but he did not realise how wide & deep the swamp is. He told us he was independently wealthy. He was mistaken. He owes money to another powerful member of the Swamp the Banks! Whereas a single individual he may have been able to withstand an attack on his/her assets by the Swamp Trump has a family used to the good life! But now and again he comes out with a quip. He wanted Troops out of Syria and Iraq. But they are still there. When asked why he said Oil, he said ''I love oil'' and strangely that got no exposure and so no angry blow back from the greenies? But an important message he also got out that was again all but not reported was this in 2018. “As of a couple of months ago, we have spent $7 trillion in the Middle East. Seven trillion dollars. What a mistake. But it is what is,” Trump said Monday at a White House meeting on with officials and lawmakers on infrastructure. “”
“Think about it: As of a couple of months ago, $7 trillion in the Middle East and the Middle East is far worse now than it was 17 years ago when they went in and not so intelligently, I have to say, went in. I’m being nice.'' 2/13/18 Newsweek The Saunders side of Trump. (Trump has always admitted to not being able to put his sentences out in the most intelligible fashion)
And we have a swamp of our own.
Yes many thanks goldgnome.
European stocks rose in premarket trading on Wednesday ahead of the United States Federal Reserve's monetary policy decision scheduled for later in the day with investors hoping the Fed will give signals on when it plans to start tapering its asset purchases.
The FTSE 100 climbed 0.37% at 7:37 am CET, the DAX increased by 0.22% at the same time and the CAC 40 added 0.34% at 7:20 am CET.
The euro and the pound were both flat against the dollar, going for 1.17240 and 1.36574, respectively, at 7:38 am CET.
Breaking the News / NP
Happy hump y’al
Hi Mr Gnome,
Thank you for posting the letter, incredible certainly evidence that the ordinary people have little idea of what takes place behind closed doors
Can you see a comparison here between the claimed productivity gains of the internet now, and the same productivity gains hailed during the internet bubble of 1999 ? The same arguments were put forward .
The current PE ratio of the S&P is 38...(Tessla's PE ratio is 349 !!).
The current S&P ratio is 90 % above the historical average pe ratio of 19.6
90% is approaching the all time peak of 132% reached at the height of the US bubble. !
The market will ultimately head for a crash , because at some point it will revert to the mean .
Of course , just because it's high , doesn't mean to say it can't get even higher , but that doesn't take anything away from the fact that the S&P is seriously over valued.
So time to avoid I would say , or if you remain invested then fasten your seatbelts is what I am saying to US market bulls.
It would be interesting to see the respective figures for the FTSE.
Gnome ..Wow ! Is my reaction to that letter . I had no idea that things had got so bad ... How did you get hold of the letter ? Is it in the public domain ?
No I haven't plotted the correlation of the price of gold with increases in debt ceilings ..presumably they rise in tandem as a safe haven ?
Yes, thanks CI. Its not so much the debt now, but the strategy going forward, and the ability to execute the strategy. It does appear to some tht the USA is so divided, that they are only marginally sort of Civil War. The Bernie Sanders coalition of the least able, is one case in point. On the other hand, productivty gains? Achived through the internet? What real productivity gain does Facebook drive? How many buy something advertised on Facebook? Who really knows?
Have you plotted the price of gold versus the debt ceiling hikes?
The latest letter is at
https://home.treasury.gov/system/files/136/Debt-Limit-Letter-to-Congress_20210908_FINAL-Pelosi.pdf
best
the Gnome
To put the US current year debt into perspective , their total national debt built up since records began only stands at US$ 19.3 trillion, this equates to 107 % of their GDP ..They are 13th highest on the list ... The highest is Japan with 227% ..triggered mainly by propping up the banks after their stock market crash back in 1992.
Incidentally the UK Stock indices is the same now as it was at the end of 1999...22 years ago..so no nominal capital growth ..just dividends
UK national debt is about 85 %. It is the 30th highest..
Surprising Russia is one of the lowest at around 25%
According to the report Egypt's Debt is just 9% although I don't believe those figures
https://twitter.com/lbmaexecutive/status/1440243554693963778
Now panellists share their views on challenges facing the industry, featuring Natascha Viljoen (Anglo American Platinum), Martin Horgan (Centamin), Mark Bristow (Barrick Gold Corporation), & Paul Fisher (LBMA) moderated by Roger Baxter (Minerals Council South Africa) #LBMA2021
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My Thoughts:
Wonder if Horgan & Bristow had time to discuss Egypt...
I think the short term optimism might be in anticipation of the forthcoming geology event . Let's hope it's not a damp squid .or the share price will follow it .
Yellen has argued that the US Congress had raised or suspended the country’s debt ceiling about 80 times since 1960, and must do so again! and why not, its the only ting they can do!?
Even though the US government is now only weeks away from defaulting on its debt for the first time – which would, as Yellen warned, probably trigger a meltdown in financial markets – investors have been remarkably calm.
Obviously, yields on long-term US bonds would rise if investors were forced to factor in some default risk.
But even a drawn-out battle over the debt ceiling could lead to another downgrade of the US credit rating, which would also probably push US bond yields higher.
Because the US government is running such massive budget deficits, a spike in borrowing costs – either from an actual default or from a protracted fight over the debt ceiling – will add to its debt servicing costs.
The US budget deficit is expected to swell to $US3 trillion in fiscal 2021 – or roughly 13.4 per cent of GDP – as a result of the stimulus measures Washington adopted to soften the economic impact of the pandemic.
And people think there is a rational basis for gold price in terms of US$ (any $ in fact) is going to go down?
US Congress is so divided and so partisan that rationality doesn’t prevail, and thats been going on for sometime now. No sign of change. No reason to be confident it will change.
And coming up ... Bernie Sanders’s $3.5 Trillion Budget Bonanza
Democrats want free everything with no accountability. Higher taxes will follow, and why not? whats the choice?
https://www.wsj.com/articles/bernie-sanders-budget-spending-taxes-trillion-11628547479
good luck to us all!
best
the gnome
Sorry my original post was too long , I will finish it here .
The other question that I didn't pose but which would emerge naturally from the ten year plan is what is the boards intentions regarding the $300 million cash war chest ...they are portraying it as a badge of honour it isn't ...the company only has a capital base of $1 billion and $300 million or 30% of that remains sat idly in a bank earning zero interest .. it could be put to better use . I am presuming its future use will be identified within the 10 year plan . A small overdraft wouldn't be a disaster if it was to fund future growth
One option for example , could be a decision to buy back some of its shares ...$300 million at the current share price (90 pence ) would enable it to buy back about 20% of its share capital base. This will certainly boost a short term growth in EPS , but it might also signal to the market (rightly or wrongly ) that the company was winding down its operations which would be unwise
Going back to my original point which was the future targeted production levels , This in my view, is the most important question of them all , because it determine everything that follows , but in order to answer it , they need to have a clear strategy for achieving it ..i.e. what proportion of future production will come from the optimal utilisation of their current 3 km footprint surrounding the Sukari operations , and how much beyond that, but within the surrounding larger footprint of their current licence , plus a strategy for the new footprint in the areas covered by the recent granting of new exploration licences
.
For the above reasons I would want to see their future production targets analysed between these separate segments .
I think that will be enough to be getting on with .
I can almost visualise their response...sorry we can't answer that because it's commercially sensitive information, and in a way it is ..but it will send a clear signal to the board that they have their work cut out to satisfy retail investors that they know what they are doing.
It looks really bleak for CEY. Either a great opportunity to buy or wonderful opportunity to short?