Rainbow Rare Earths Phalaborwa project shaping up to be one of the lowest cost producers globally. Watch the video here.
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My view of Centamin is that it is in a geostationary orbit over Egypt. Sometimes things move faster and the price goes up a little, soon to decelerate back to where it was. If you simply hold Centamin long term there's a distinct danger you end up out of pocket. That is why i try and make little bits where and when I can and squirrel them away. These amounts do add up with time. I'm back in the market today but couldn't extricate myself to effect. Probably one of the worse things that could happen is nationalisation by the Egyptian government. So Centamin has to keep them sweet. We need significant news which translates into extra bars of gold bullion for the price to move, or a sharp hike in spot gold price. This share is testing to hold. Anyone else thought of investing elsewhere, eg, currency trading, As regards crypto, I can't make sense of this apparition. I wouldn't touch it with a barge-pole. Anyway, a chance to live and fight (the markets -- not people!) another day on Monday . Very best wishes to all commentators and investors alike and thank you for your rich and varied opinions.
Hi VonMoltke,
My wife's mother had a grandfather who held a commission in the Prussian cavalry and we also had an artist friend Elke who was of Prussian descent.
Anyway I wouldn't worry about nationalisation because the Egyptian government EMRA is already in a legally binding partnership(enshrined in law) with Centamin regarding the Sukari operation.
Also the Egyptian government is keen to reassure international investors that Egypt is a safe and stable country to set up business in, which is on e of the main reasons why the new mining laws were adopted.
If Q1 is equal or better than Q4 last year why wouldn't it be then up we will be.
Let's hope so halfpenny!
My thoughts are it'll be higher production than Q4 as they seem to have hit the ground running since their woes and subsequent quarters will also show improvement.
100250, 103500, 107000 you get my drift?
https://moneyweek.com/22331/centamin-doubles-profits-after-record-quarter-120130-0818-20746
Oops just realized that's for 2012, but the output is rising.....doh!
Hi Halfpenny,
I have a pub friend who works in a mining related industry in Egypt and they get to hear some of whats going on at the sharp end at Sukari as it were.
I don't want to drop anyone in it and obviously this is only what I have heard word of mouth and in good faith, it seems that the previous at the pit face/open pit crews were to say the least certainly not as well managed or incentivized as they should have been and most certainly failed to exploit the riches/reserves in certain areas of Sukari as well as they should have done, and completely missed some!
Since the new management took over the true future and indeed what was overlooked in the past is becoming ever more apparent and hopefully bodes well for the future.
"One that has been swept under the carpet was Cleopatra and the money spent there and why Ross jerrard is still there.?" highlighted in the past by Cowichan
It seems that certain top level employees agree with some of the issues Cowichan has raised in the past (such as the suppressed HiSeis 2D survey, etc) there must be good reasons to question what has been going on at Sukari in the past .?
"Sukari is supposed to be a teir 1 asset and agree it's not the best team to run the asset, there senior management tab on there web site is testament to that
Off site overheads are high as compared against there peers although there official office is in Jersey there is a satellite office in London.
Martin Horgan can sell ice to Eskimo's, he talks the talk, but does he walk the walk, that said with in excess of 10 expatriate staff from Barrick he seems determined to bringing in the much needed expertise and enthusiasm to deliver on his stated objectives!
As for the Barrick recruits , I noticed at least one had attended the Cambourne School of Mining, still one of the best wordwide.
Spot on Mr Bond, don't come any better than Cornish bred miners!
Hi Tibbs
As usual very succinct and well informed information on CEY.
My personal view is that Horgan is playing a blinder. As I have said here before he has accumulated more than sufficient personal wealth as not to be motivated by monetary gain. His previous resistance to severe pressure to float his start up company was both courageous and insightful. I (as I said personal view only) is that status in the business and more especially the mining industry is his prime motivation. As such keeping your powder dry , share price on the floor and then at the right time release the brakes in an ascendant and acclaimed way is where I see the present situation.
More power to the day traders assisting the long term plan but those who post on here are spread betters or trading the wrong side of the book and will join the 60+% who have no concept of the mantra CAPITAL PROTECTION AT ALL TIMES and eventually succumb to the professionals picking their pockets.
Good wishes to all here
Bob
Hi Bobliz,
Personally I very much agree with your opinion of Martin Horgan.