Firering Strategic Minerals: From explorer to producer. Watch the video here.
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https://www.tietto.com/projects/abujar-cote-divoire/
Diagram intended for those who know Côte d'Ivoire.
[None too pleased with today's SP. Tenacity required.]
wow - a lot of effort to keep this supressed.
Short tracker only shows net short positions above 0.5% so when World Quant dropped to 0.46% it shows as zero. Euro clear shows all stock on loan ( so not just net short ) it shows all stock lending and it has reduced over August by nearly half a percent to 4.04%
Short tracker now showing zero. If that is accurate Worldquant have closed their position.
Stock on loan down to 4.04% end August from 4.51% and end July
Just noticed no short positions now.
"Open Short Positions in Centamin PLC
There are currently no open short positions in Centamin PLC."
It's the silly boys pushing it down. Good time to top up if you can wait a bit I believe. That's what I'm doing! Gold might not be quite as sexy as it was. But it hasn't gone away. And this share seems priced pretty low despite the unknowns and risks.
Sotolo,
The problem with analysts is they all have different assumptions about the future gold price and then base any analytics on that outlook and hence you get a vast array of price ranges for Centamin. Tony
Analysts haven’t a clue
Somnamna
For an African asset, the value of a measured and indicated gold resource has a value in the ground. The lowest price is $20 per ounce for the 2 million ounces at the current high gold price. Sometimes it may be $30 per ounce depending if roads or some infrastructure where miners and so forth can live nearby and the deposit is deep enough to defer antisanal mining but not so deep as to have high stripping costs. Tony
Major European stock markets were unchanged during Friday's premarket session as investors awaited services PMI data reports set for release shortly after the opening bell. Later today, Eurostat is expected to publish its July retail sales report for the Eurozone.
The DAX, the FTSE 100 as well as the CAC 40 all traded flat at 7:33 am CET. At the same time, the euro and the pound stood unchanged against the dollar to sell for 1.18788 and 1.38358, respectively.
Breaking the News / ND
Happy Friday y’al
Hi Totnado Tony, how did you calculate the figure of USD 40M for Batie West?
It seems now that we've gone ex-divi a new bottom will form. Analysts vary with the lowest at 82p which seems possible.
Gold is a good hedge at present and should uptick. On this basis only CEY position should improve. Will the SP change. Unlikely until we get Q4/21 numbers that may give improved divi guidance.
Tough share to hold. Best option is another offer that is acceptable put us all out of our misery.
All theory of course but divi cover remains solid.
HC
I guess final dividend for 2021 could be delayed but in previous years it came a bit earlier going ex in Feb or March. Funny times so anything can happen...
Wiscos
There is no divi until May June next year
Eagle
I am no accountant so i stand to be corrected,but free cash flow of 320m are you sure
Sensible stuff. As so often happens these days the share price drops excessively as the stock goes ex. I sold about 75% of my holding in the last few days at just over 100p so very happy to buy it all back today and get back more than the div. Happy days. Can't see this share staying so low for long... And the next div of 5c isn't that far away... Can't lose!
Thanks for sharing Tornadotony, food for thought.
Thanks Tony for your thoughts and calculations very appreciated.
Roll on 1900/2000 USD per ounce.... far to low SP unless I am topping up
And hopefully CEY are conservative with guidance but start to exceed mmmm
Hopefully, some good news with licenses soon and maybe an uplift
bests to all
Apologies for the odd typo in previous. One day this site may allow corrections.
1. A significant history of accumulated waste has been stripped out. The first two quarters removed nearly 9 months of previous waste ore not processed.
2. A significant amount of waste ore at 0.47g/tonne was processed. Again fixing the roof as the sun shines.
3. A solar farm contracted that saves $13M in costs per annum. This equates to $30 off AISC costs per year. After 5 years all the capex costs are recovered. The company reduces its carbon footprint.
4. The company is keeping to its targets on production and AISC costs for this year. Future two years give a 7% growth in production per annum and 10% compound savings on AISC for 2022 and 2023.
5. The company has assets to sell of around $40M (Batie West) and on the basis of measured resources in Doropo has $4.8M value of in the ground NPV. It has a future post 2023 potential of $234M at $1450 gold price that may be added in as offset to Sukari mined out material that is not replaced so helping keep a sustained share price value.
6. The west wall drilling which starts again in late Q4 has 2g/t open pit resource of up to 90,000 ounces that facilitates the nest two year growth targets and is far higher than the current open pit drilling that is not from waste is 0.7 g/tonne.
7. The Sukari underground mine plan is to be delivered in late Q4 say to give a post 2023 outlook on production. Investment in Q3 and Q4 exploratory drilling has received a budget increase from $5M to $17M which is likely to yield more ounce and value for Doropo and Sukari underground.
Overall, this is quite a robust stock to invest in and has quite a lot going for it. At a gold price of $1600 in 2022 for example, should earns $96M after profit share or 8.3 cents per share or 90p target price at 15PE on £1.38 to the pound. The value increases 22% for every additional $100 gold price so $1700 average gold gives 109p at $118M earnings and 128p is the $1800 average gold price.
Eagle,
I didn't say anything of the sort. I simply suggested that if you were referring (By your comment 'Unsurprisingly we have posters who've just come up and make weird price drop predictions') to Wildtigers comment on the SP, (85p or some such) that Tigers opinion may be based on the Liberum price target, rather than just having made a price drop prediction.
I agree that the current SP is bonkers and makes no reflection of the future.
Almost a year ago cey was at it's high of 223p and now it's at it's yearly low at 95p. Where to from here one wonder's?
A really interesting, if somewhat scary read. I do wonder when these particular birds are coming home to roost. What, if anything, can be done to change the situation, or have we already crossed an invisible tipping point?
And the next question I guess, as an investor, is what can I (we) do to avoid the worst of the fallout. Diversification of investments into scarce assets?
Not really when you take out the divi- broadly in line with all other PMs as has been the case YTD.