Cobus Loots, CEO of Pan African Resources, on delivering sector-leading returns for shareholders. Watch the video here.
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expected a little more 'thrust' in today's SP, given the news flow and the DIV approaching.
I love Goldgnome's idea. Here's my two questions for Centamin's management. If Tibbs could arrange to get these in front of Mr Horgan's eyes then we'll be off to the races.
1) Will Centamin disclose a maiden resource estimate for its other significant gold resources located in Burkina Faso - namely the Napelepera and Wadaradoo deposits? Records indicate hundreds of thousands of meters have been drilled outside Batie West but to date no resource has been reported to shareholders. Why?
2) Will Centamin consider spinning off its Burkina Faso resources into a separate corporate entity partially owned by Centamin and its shareholders? Equinox Gold did this earlier in 2021 when it acquired Premier Gold and separated out its Nevada assets into a new publicly traded company named i80 Gold. This achieved much more value for both shareholders and Equinox than selling the assets to a third party.
Top of the agenda for me has to be the West-African question. Since they have indicated a disposal, it probably means that negotiations have already started and are well underway. - Reluctance/failure to publish promised full-details is extremely suspicious and gives rise to the thought that corporate malfeasance may be in play. - They have to come clean on this issue in order to avoid such accusations. - So, that is the overriding issue for me.
Indeed,an excellent suggestion by Mr Gnome!
Very fair comments Rebess, also Cowichan is indeed to be applauded and owed share holders gratitude for his thorough research and tenacity in seeking truthful answers on outstanding issues regarding West Africa assets.
As we are all aware there are certain market restrictions on closed periods and the type of information may be put into the public domain at any given time and Mr Gnome already stated its important that any of our questions should be constructive, clear and compelling.
So with that in mind I feel the next couple of days may be an opportune time to give Mr Gnome's suggestion some serious consideration!
Mr T
I'm not so sure about the negativity today on this message board on CEY.
As I write:
CEY +0.72%
POLY -0.27%
BHP -0.18%
RIO -0.13%
AAL -0.41%
Much of the mining industry is down today, likely off the back of the ECB increasing talk of tapering and some negative data on china growth.
Gold is currently +0.22% and CEY (now) +0.84%, so CEY is outpacing the gold price...
An excellent idea Goldnome.
As a long term shareholder I would be happy to put my name to such a missive.
Is it possible working group could be set up and to take the prepararation off LSE forum during preparation?
e.g.. communicate by email. I am not tech savy but sure something could be done.
It would do justice to Cowichan's and others efforts and cocerns.
An excellent idea Goldnome.
As a long term shareholder I would be happy to put my name to such a missive.
Is it possible for a group could take the prepararation off LSE forum during preparation?
e.g.. communicate by email. I am not tech savy but sure something could be set up.
It would do justice to Cowichan's and others efforts and cocerns.
It will be bck down on Thursday when it goes ex divi anyway
B of A forecasting 1900 gold by the end of the year,its just a waiting game
Lets do something a little different?!
Lets composite a set of questions for the LOM meeting next, that ARE SENT as a BOARD (the LME BOARD of concerned stakeholders) to the CEY BOARD....
I will take a lead now, and could I suggest that Mr T composites, and submits as our key questions...
Questions
1. The West African properties are described as assets, but are they assets or liabilites? ... and how does the board intend to extract the maximum shareholder value in the shortest time on these assets?
2. There is an understandable focus on reducing costs, but given there is value on extending mine life, what is the plan to add the next 2-5 million ounce reserve onto the books? Time, actionable measurable items ... etc Balance of this objective with creating opportunities....
3. Given a reduction in Op costs is highly desirable, what are your plans to reduce mining costs? When will these happen, what ROI/ROC are attached to each item/s. Costvreductions can be in Miing, metallurgical, waste management etc ....
4. Given pathways for organic growth for CEY and other gold companies have been susect, does CEY have plans in this arena, and can you diviulge what they are, and how much investment in terms of moeny and human resources are directed at this?
...over to everyone to table their pet questions..please table, lets be constructive, clear and compelling ....
best
the Gnoem
Thank you Cowichan!
you keep everyone' spirits up. your glass is always half full, Cheers!
Hi,
please don't take this the wrong way because as a long term holder I only wish well for Centamin,
The market is punishing Centamin and in turn us the long term share holders simply because of the past professional ineptness of the previous Sukari management and what can only be regarded as their less than honest statements about the true state of a Sukari operations, in short share holders were misled, even lied to on occasions!
If you care to look back to around 2016 you will realise that Andrew Pardey and his Sukari general manager Youssef El Raghy ability to actually deliver on what they promised to shareholders fell far short of expectations on a number of occasions to say the least.
Excessive high grading from 2015 to bump up production in the short term with a complete failure by Pardey and Youssef to instigate appropriate waste clearance and water drainage resulted the 2020 RNS of major interruption to production due to the danger of an open a pit wall collapse.
The markets reaction to this may not have been so severe had this been the first instance,or even the second of the lack of professionalism by Pardey and Youssef in the general management of Sukari mining operations, but it was'nt as some research will demonstrate to you.
Unfortunately now the new CEO & his team have quite a task ahead of them in clearing years worth of low grade crap in order to be able to resume more normal production and indeed gain safer and more suitable access and egress to underground production, which is now far more important than had been realised or admitted in the past!
From the information available it seems that the open pit clearance is ahead of schedule, but of course this with the associated reduced production has meant substantial increase of AISC albeit on a temporary basis if all goes to plan!
However possibly the biggest challenge and to our new CEO is the restoration of the markets confidence in Centamin and that will only be achieved by the "Proof in the pudding" or sustainable delivery of promised production!
Happy to go down when POG goes down though! Typical! Thought we might of been on our way to at least £1.05 today! Have a good day everyone. Cheers Welsh.
Hi Cowichan
Your continual snapping at the heels of Centamin over the secrecy and non-disclosure of their West-African asset details is to be applauded. - There is something fundamentally wrong with the clockwork that drives Centamin IMO, it's more than just Pardey, that is too simple an explanation. - So, keep snapping please, I believe you are exposing what could be actions that are counter to shareholder interests. - Good luck.
Not sure why this share does not want to push up and its lagging even when gold is up.
Equities on major European stock exchanges were in the green in premarket trade on Tuesday as traders awaited the Eurozone's inflation data, as well as German unemployment figures. ECB policymaker Robert Holzmann said yesterday that he sees the inflation rate declining in both 2021 and 2022, while Brussels took the United States off its safe travel list.
The DAX grew 0.25%, London's FTSE 100 increased by 0.25% and the CAC 40 gained 0.30% at 7:28 am CET.
The euro was 0.21% higher compared to the dollar at 7:30 am CET, trading at 1.18212. The British pound advanced 0.21% against the American currency, going for 1.37890 concurrently.
Breaking the News / MS
So I tagged these two tweets for Centamin to consider:
https://twitter.com/i80GoldCorp/status/1372926304887181317
Premier Gold Mines - i-80 Gold USA Spinout Set to Replicate Success https://youtu.be/gAZkFzJgByw via @YouTube
----------------->>>
Hey @CentaminPlc - how about asking our director Dr. Sally Eyre about replicating this spinout strategy w/ Centamin's #BurkinaFaso assets?
@i80GoldCorp reached $500 million in 5 months! Surely the best way to reward shareholders, create value & finance production? #CEY #gold
https://twitter.com/DonLawson_/status/1432470019686998020
<<<----------------------
For shareholders who are interested in getting the best return out of Centamin's time & money spent in Burkina Faso - check out what Equinox Gold did after it bought Premier Gold Mines.
In short it spun out some Nevada assets into a new company - retaining 30% equity for Equinox and giving former Premier shareholders .4 of a share in the new entity too. The spinout company i80 Gold now has a market cap of $500 million.
I'd sure rather current Centamin shareholders & Centamin itself be the primary beneficiary of the Burkina Faso assets to the tune of a $500 million (or similar) market cap than sell Batie West for $40 million to a rival West Africa producer. A proverbial no brainer!
Please copy and paste this post to Centamin Investor Relations dept. if you agree. We're running out of time to let our voices be heard.
Another link to Equinox Gold's i80 spinout presentation here:
https://youtu.be/gAZkFzJgByw
Worrying to see regulators way behind PhD students in undertanding what goes ion in the market place! The crypto space is a well known wild space, but there is a large amount of money washing around, and one would wonder why regulators are not watching and regulating.
A UTS business school study has highlighted rampant price manipulation across the $US2 trillion cryptocurrency market “in broad daylight” as regulators and exchanges turn a blind eye.The study by finance professor Talis Putnins and PhD researcher Anirudh Dhawan identified 355 cases of pump-and-dump schemes involving up to 23 million participants using social media or encrypted message groups like the Telegram App.The average cryptocurrency pump-and-dump produced a 65 per cent price rise in the space of minutes, with an average of eight minutes for a coin to reach its peak price on volume around 13.5 times the usual daily volume, according to the research.“Gambling propensity increases during times of anxiety, isolation, and boredom,” he said. “It explains why these games are really popular. They’re a form of manipulation unlike any we’ve seen in traditional markets. There’s no trickery here, the manipulation is in broad daylight.”On average manipulators buy around $US24.3 million ($33.3 million) worth of coins prior to a pump signal. This results in a conservatively estimated profit figure of $US6 million per pump by reconciling the differences in volume weighted average prices before and after a pump signal, according to the research.Pump-and-dump networks can include loose affiliations of social media celebrities, financial or crypto influencers, altcoin issuers, organised cybercriminals, and millions of speculators hooked on meme-fuelled fantasies of instant, easy, wealth.
Plenty of anxiety isolation and borediom around.
One wonders what would happen if we got a few PhD students onto gold price manipulation.
best
the Gnome
African adventure bears fruit for rising star Perseus
Aug 26, 2021 – 11.04am
Revenue ($m): 679.7 up, 15pc from year-earlier 591.2
Pre-tax loss ($m): 163 v year-earlier 126.7
Net loss ($m): 116.2 vs 94.4
Final dividend: nil
Perseus Mining has delivered a reminder to the Australian gold sector that a successful business can be built beyond the security of developed nations, as its long journey in West Africa culminated in record profits and a maiden dividend on Thursday.
Fifteen years after it first ventured into Africa, Perseus now has three gold mines operating across Ghana and Cote D’Ivoire and has staked a claim as an emerging mid-tier player in the ASX gold sector.
Gold was fetching $US1790 per ounce on Thursday...AND NOW HIGHER
Perseus’ persistence in West Africa has run contrary to the conventional wisdom in an Australian gold sector that has rarely looked beyond North America and Australia for growth in recent years.
Northern Star, Newcrest Mining, Evolution Mining and St Barbara all made North American acquisitions in 2018 and 2019, with Northern Star now marketing itself as being the ASX miner with the most gold in “tier one” jurisdictions; a veiled swipe at Newcrest’s reliance on Papua New Guinea for growth.
Perseus’ ability to get three West African mines into profitable production and announce its maiden dividend on Thursday stood in stark contrast to the problems St Barbara disclosed in the relative comfort of Canada on the same day.
Lets watch what happens in West Africa, full of positive surprises for a well managed company
best
The Gnome
thanks for the update.
Equities in Europe traded mixed in the premarket on Monday ahead of the latest reports on consumer confidence in the Eurozone and consumer prices in Germany. Earlier, the European Union granted Berlin €2.25 billion from its Recovery and Resilience Facility (RRF) to help the country recover from the crisis caused by the COVID-19 pandemic.
The DAX stood flat at 7:29 am CET. At the same time, the CAC 40 went up by 0.07%. Meanwhile, the FTSE 100 was closed for Summer Bank Holiday.
The euro gained 0.06% to the dollar to sell for $1.18032 at 7:30 am CET. A minute later, the pound sterling stood flat against the greenback, changing hands for $1.37662.
Breaking the News / JR
Global debt has been rising parabolically since 2016
Between 2012 and 2016, the global debt had increased by $5.6T. Over the same 4 year period between 2016 and 2020, the world debt has increased ten times faster, or $56T.
This parabolic increase clearly shows us that the world debt situation is currently out of control. It represented 365% of the world’s GDP by the end of 2020. Even at the end of the WW2, financial commitments had not reached such a level as a proportion of GDP.
Even more interesting is to look at the details of the debt by country. An infographic from the How Much website allows you to visualize this in the form of the debt to GDP ratio of countries around the world [well worth a visit]
https://howmuch.net/
In all, 32 countries exceed the 100% threshold. The days when having a debt to GDP ratio above 100% was a taboo seem to be over.
The Fed and Reserve Banks are putting on a brave face, but what would you expect them to do?!
Pulling ones hair out in front of the media camera's is not a good look.
the gnome ...
Just to add a bit more, for infotainment, in case your weekend is lost!
First seriosuly...My football team won in its final, and looks odds on to take the premiership, ...whew!
The Central Banks have committed to printing over $10 trillion (half of total GDP) under the auspices of Covid relief. IN Oz we are entering our 2nd quarterly recession resulting from our governments management of covid, have record government and private debt, housing out of reach, outsourced our manufacturing, and on it goes.... [We also have more people dying on road accidents per month than covid, and an obscenely all time high of teenagers admitting themselves with mental heath issues into our hospitals, the cure is worse than the disease?]
The biggest deal on the ASX was the acquisition of AFTERPAY for a cool A$39 billion, which had neither an orginal idea, or a large robust moat, and has just revealed a $156.3 million net loss, 689 per cent worse than its $19.8 million loss last financial year, [BUT of course, with high expectations for growth amid being Australia’s biggest ever corporate takeover!!], and this after the co-founders took $x00m off the table, and they now pocket A$2.7 b each ... great money if one can get it, why bother with mining or finding gold. Eldorado recast/reminted? AFTERPAY is part of the endless credit and debt game that is now part of life, as few now (apart from co-founders) have had a meaningful pay increase for decades, and hence cannot afford the lifestyle they aspire to. Answer: BUY NOW, PAY LATER, and why not?! Productivity gains?
We work hard to not learn from past mistakes, believe what we are told if we are told enough times, regardless of how stupid it is. In fact reminds me of MOBS, MESSIAHS AND MARKETS, by Bonner and Rajiva, and of course
THIS TIME WILL BE DIFFERENT
Enjoy the dying hours of the weekend, for next week is another week in the mystery of the [slightly regulated] market place, and my football team is a other week closer to an appearance in the Grandfinal!.
best the Gnome