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Gold price up Cey down, one would expect the opposite here esp with news on the 1st Dec… we are way undervalued and yet no reversal of downward momentum…
Patryk depends on whether Dec 1st news is better or worse than expected. We know what to expect but not which way it will differ, not how investors will react when we see the figures in Black and White. The price says the market is a bit worried….
Sotolo
The GDX ETF chart for the last 3 months is virtually the exact of Centamin. So your comment about the company being a concern specifically is not correct. Tony
I view it very much simpler:
- If gold drops, CEY will drop.
- If gold rises, CEY will rise, except when there's negative CEY news
Gold looking positive for the past few 'hours'. Let's hope it can hold it for more than 1 day.
Yep Canetoad- there’s enough uncertainty out there to see a rise in gold - here’s hoping…
Hi Tony,
Thank you for reminding us of this, you may recall how at times in the past "Uncertain" referred to this correlation between those charts and the Cey share price, seems more prevalent when there is some apprehension about what is happening at Centamin.
I remain very optimistic about the future, not least because Kees Dekker who knows his profession inside out is of the opinion from what information is available that Martin Horgan's operational strategy at Sukari is best practice and that as long as the POG remains around these levels Centamin will easily cope with what need's to be done whilst still making money.
But whatever happens at the present time things will get better and Sukari will emerge a far more efficient and indeed profitable operation on very much more sustainable basis.
Sotolo,
Wouldn't you be more content investing in something else?
Tornado over 3months Cey has underperformed gxj by -13.4% to -9.8%, year to day -31.4% to -17%, 2 years -32% to -1% and 5 years -41% to +30%. The price is an expectation of profit cemented by what profit actually is. A poster suggested we should shoot up on Dec 1st news, all I said is this is not definite and the continually falling share price compared to Gdx suggests we need a larger gold price rise than we are having to get us going. I think Dec 1st is likely to make a difference but more the end of year financials but which way I don’t know, nor how badly the news will be taken. Of course gold is a huge influence on the shares but as the above figures show rising gold does not convert to rising profits IF ounces fall and costs rise faster. So we badly need to see how bad the figures are, we have been told but will they be better or worse, which could give us a rerate to gold, tho hopefully not in the usual direction…down
We have performed in line with pretty much all PMs ytd- sector remains unloved for now. As we all know prod dip from oct2020 caused the other exceptional drop. Dec 1st is important as I’m hoping on good news on Sukari, where we’re at and what future holds- it was Sukari that caused the dropsonof importance. All financials can be estimated - of course we are still in YoY comparisons so each quarterly RNS can cause a drop, as can full FY results.
I think the share price action since the update says it all.
Just so Steve, roll on Dec 1 for better or worse, and roll on gold finally getting off on the fast falling real interest rate, I expect a market tumble taking us down as investors raise liquidity and PE rates rise, even if gold rises at first, but then is to come very good as rest of market suffers. The big question is when, and maybe not quite yet as Powell is still letting real rates fall
"I think the share price action since the update says it all."
You mean the CEY price action: +0.48% ? OR gold.
Gold is looking better, but it NEEDS to maintain some momentum. It's not exactly an explosive move yet. I'm going to get excited if we break $1830 and crack open the champagne if we get to $1900.
Cane, I meant the Q3 update on the 19th October - it’s since been falling.
A sustained rise in gold until December 1st would certainly help then it’s over to CEY to hopefully give some positive news to ignite the SP out of this down trend.
I think CEY is secondary to gold at the moment. Lots of investors (including ME) view CEY and other miners as a geared exposure to gold, not that interested in minute details on the company, as long as it's solid.