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Selling a tranche...may struggling breaking thru 120/121
Hi Tibbs. Did I hear £5 - about time. Happy New Year, Hope you are keeping well
Hi Wally,
Happy New Year to you too!
How lovely to hear from you . I do hope that you are well and still walking the dogs?
Yes £5,should have been the case, but then that was dependant upon mining professionals not short term scammers running the open pit, the irresponsible high grading for high dividends and short term has indeed proven to be very costly to the long term holders who lets face it were lied to!
From 2014 on there is little doubt in my mind that the BOD were complicit in running a pyramid scheme by using inside information on Sukari to their own advantage and were also complicit in the deceit of share holders, (Pardey lied to me on two telephone conversations and failed to ever answer m emails on all manner of operational issue.,}
The BOD on admission they failed to notice that there was a failure to clear the Sukari open pit waste, if that is their lame excuse then they are unfit for post, or if it isn't then they were complicit in, or condoned the deception of long term shareholders, the market and the media by Pardey and Youssef El Raghy!
One must also question the professionalism or capabilities of the corporate analysts who visited Sukari for failing to pick up on the absence of sufficient waste ore disposal!
Keep well and lets hope things will be different this time!
Repeating baseless lies over & over again will not make them true Mr T!
As for 5 pound a share, your valuation methodologies are clearly as fanciful as your other meanderings but I wish you all the best in reaching your rather lofty price target :)
Spoonington,
If you had been a member of this board for longer then you would realise that the £5 share price was part of a general discussion based on the opinion of of an old experienced Cornish miner. who knows where the share price would be now if Sukari had been managed and operated properly as it is now.
As to who is telling lies , well you obviously weren't party to what Pardey stated on the web chat phone ins and where the share price has been languishing for over three years with the huge cost of the Sukari clear up is testament to if shareholders were being told the truth or not!
Kees Dekker mining analyst flagged up concerns to the articles of 2015 & 2018 , Pardey stated that Kees had based his conclusions on flawed evidence and tried to get the article pulled, Kees offered to reconsider his evaluations if Pardey cared to supply what he claimed was the correct data, Pardey then ceased all dialogue with Kees and carried on denying what has subsequently be proven to be true, the Sukari mine wasn't being run properly!
I think we'll be hitting this 120/121 resistance for a while unfortunately. Hope I'm wrong
Old resistance has now become support
This looks like it's heading to much higher levels over the coming weeks/months.
I have banked 5/6th of my holding for 23% profit since March 2021. Matches with UK inflation. Letting the rest run and grateful for what I have got. RSI daily at 77 and stochastics running hot on 100. AAZ now catching a decent bid, but Shanta getting precious little for some reason. Assuming new mine comes on in time Shanta is on a 45% growth path. Whatever decisions others make I wish you the best of luck. I will be writing less on the CEY Board. Tony
Good luck Tony.
I managed to take some over at AAZ around their lows.
You accuse previous management of artificially inflating the share price, misleading shareholders, creating a pyramid scheme & numerous other ridiculous claims & that got the share price to a bit shy of 2.50 which you consider to be a sham created by management, the El Raghy family & whoever else you add to your conspiracy theory.
After ranting about the above in the next breath you say that the share price should be double the amount you consider to be a fraud - you trap yourself with your baseless ramblings Mr T.
Instead of utilising the opinions of unidentified Cornish miners why don’t you attempt to back up your 5 pound target with some real analysis detailing the production levels, costs, etc. that would be required to achieve it - I would like to see that!
Most people on this board will be sensible and not let any of the posts affect their investment decisions - however there is an unavoidable risk that some will be foolish & actually pay some heed to the posts, it is irresponsible for you to make such baseless & unsubstantiated price targets - you may be accused of engaging in fraudulent ramping activities!
Spoonigton,
You completely missed the point about the prediction of a £5 share price from the old Cornish miner, this wa part of a light hearted discussion on the board when we were going through some difficult times to try a raise peoples spirits, that said it's not impossible in time if Centamin is run properly as we are led to believe now!
As a matter of interest the knowledge gained in the Cornish mining industry and the expertise of the mining professionals has been drawn upon all over the world, indeed there isn't anything the Cornish industry doesn't know about mining , especially underground,!
Pardy might have done well to take a few lessons from them https://en.wikipedia.org/wiki/Camborne_School_of_Mines
In 2018 the sole underground LHDR running on limits had suffered a critical breakdown with no spare parts or contingency plan resulting in another guidance cut RNS 3 weeks after predicting record output!
So I called Centamin representatives Buchanan and asked how this could have occurred,, the Buchanan representative said that as underground mining wasn't usually done in Eygpt there was limited operational knowledge, Pardey also tried to down play the importance of the contribution of the underground production and the fact that the underground access & egress was severely limited at that time!
Yet as has now been acknowledged by Martin Horgan & indeed mining analyst Kees Dekker the underground grades are of paramount importance to support the poorer open pit grades!
From 2015 0nwards the Sukari management including the unfit for post Sukaru general manager were glossing over the fact that guidance was being achieved by high grading and that they were allowing the accumulation of waste ore, At the same time Pardey and Youssef were making what they knew were were unachievable and unsustainable guidance forecasts in the Egyptian and market media, this is surely spoofing in order fool the market and shareholders!
So I stand by my opinions because they are supported by the evidence of the dire state of the company and the subsequent events, I have posted the links to the relevant reposts and media releases on here recently.
Where is your evidence to the contrary?
You will remember Mr T? Didnt they predict 600K ounces very shortly before one of the major problems?
I think what we really need to do is forget the unfortunate history and the old guard and look to the present and hopefully the future. Forget £5 a share because as far as I can see Centamin don't have the resource in the ground or the resources to move enough ore to produce enough ounces at a profit to get anywhere near £5.
However they have achieved just over £2 so no reason why they can't get there again but only when the waste contract is over and done with because month on month millions of dollars come off the bottom line for zero return in ounces.
Horgan says the waste contract will result in a positive return question is when, at the end of the contract or during the contract, is it already contributing with ore already exposed?
I am fascinated by the current rise in the SP, OK driven somewhat by the GP but not entirely because normally will drop when GP drops but for a week now it is holding/improving through fluctuations. Certainly not complaining and hope Centamin have been able to take advantage of the healthy GP with the most recent ounces.
Now it is so important that the year end numbers presented to us on the 19th are very good and include a set of realistic numbers for 2023, that show a step up over 2022.
Dasut - like you baffled by this really significant and sustained uphill charge after months and months languishing below the 90p mark. The GP alone won't do it. Also we have a long way to go before the AISC is brought under control. The turnaround within the company doesn't seem to explain a 50% uplift since Oct 19. I have a nasty suspicious side that wonders if someone out there knows something we don't. At the risk of sparking off a load of conspiracy theories - could there be a bid in the offing ?
Spoonington,
Pleased to see you have recognised Mr. Tibbles for what he is. Contrary to his claim that he had seen through the previous management and was a critic of their mine plan the reality is that on 8th October 2020 days on this board, days before the issues about the open pit were revealed he was trying to ramp the share price summarising a Jefferies note which contained a target of 240p !
Just to put the record straight if you care to check back several members had quoted the Jefferies valuation but were unable for whatever reason to obtain copies of the the Jefferies note, so for members information I published the more detailed version which was circulated to institutional investors by the corporate brokers who obtain their information from the Centamin investor relations department.
Why not take your ramping allegations up with them ?
Hi Dasut,
The £5 a share has been taken completely out of context because it suits some to do so, that said who knows!
Centamin share holders have been led up the garden path far too many times in the past which is why until more information on many unanswered issues or proof in the pudding they they need to be on their guard !
Remember this Acacia were £5 ish at some points and the shareholders got shafted by Barrick, I think Cowichan is right to be asking Centamin questions ,although they are rarely,if ever given a straight answer!
https://www.barrick.com/English/investors/AcaciaMining/default.aspx
Who Mr Tibbles did the shareholders get shafted as you put it, Centamin or Barrick.
As for your mate Cowichan ,it is hardly surprising he gets no answers from CEY.
Being openly aggressive as well as some may say to the CEO and Board ,is hardly likely
to be conductive , after insults aggresion and slanderous accusations.
Ask yourselfves why no major investors have got out.
Not through ignorance and not knowing , they spend millions on aquiring good information,independantly.
Fair comments Mr Bond,
But how reliable have the corporate analyst sheen so far?
In short they on site visits not one of them raised any concerns about the piling up of waste all over the site?
So why should we trust them now ?
Are we then to assume that the institutional investors are being given exclusive access to information that is denied us retail investors, so we should assume all is well?
Quite the opposite was the case in the past, what is different now?
Or possibly institutional fund managers don't really care a jot about the long term as long as there can be short term trading peaks and troughs!
Hi Mr Bond,
My point was any possible takeover merger needs to be viewed with suspicion after the way Acacia shareholders were shafted by Barrick!