Listen to our latest Investing Matters Podcast episode 'Uncovering opportunities with investment trusts' with The AIC's Richard Stone here.
London South East prides itself on its community spirit, and in order to keep the chat section problem free, we ask all members to follow these simple rules. In these rules, we refer to ourselves as "we", "us", "our". The user of the website is referred to as "you" and "your".
By posting on our share chat boards you are agreeing to the following:
The IP address of all posts is recorded to aid in enforcing these conditions. As a user you agree to any information you have entered being stored in a database. You agree that we have the right to remove, edit, move or close any topic or board at any time should we see fit. You agree that we have the right to remove any post without notice. You agree that we have the right to suspend your account without notice.
Please note some users may not behave properly and may post content that is misleading, untrue or offensive.
It is not possible for us to fully monitor all content all of the time but where we have actually received notice of any content that is potentially misleading, untrue, offensive, unlawful, infringes third party rights or is potentially in breach of these terms and conditions, then we will review such content, decide whether to remove it from this website and act accordingly.
Premium Members are members that have a premium subscription with London South East. You can subscribe here.
London South East does not endorse such members, and posts should not be construed as advice and represent the opinions of the authors, not those of London South East Ltd, or its affiliates.
The company has hit guidance on AISC and Production in Q3 and delivered on that promise.
The annual performance targets will be around 445,000 ounces on production which is mid target.
Q4 production to be slightly less as new kit is being commissioned.
Batie West decision was confirmed.
Other targets still in progress but delayed.
Cost savings programme has worked well.
Cash and other liquidity was $153M
Tornado, a bit neither here nor there, but for Centamin that is pretty good, we could do with more unexciting steady as she goes
These numbers are fab!?! Production way ahead of expectations and 126000oz sold for 218m revenue. AISC still scary at $163m. These are significant advances Q on Q and yet the SP has tanked. Bizarre
3Bear are you looking at Cey, and the latest quarter? Production is much as predicted, aisc is at top end as one would expect with soaring inflation since it was predicted, and pretty good to keep it within their predicted figures imho, and with steady as she goes no dramatic change in share price which will be subject to vagaries of gold, but didn't see any tanking this am
Bizzare post
Sotolo - production 127,512oz the best we've seen for a couple of years and we're at 83p. I don't get it even if the gp this morning is 1630.
Maybe 3Bear is referring to poor performance in general over time? The industry has continued to get hit pretty much, inflation and gold price both going the wrong way- I agree with Sotolo in that they've done well with all these considerations taken into account. Equally, good to see continued openness eg finances/options for future financing and equipment issue clarity where things are being highlighted and addressed. So far so good- FTSE down a little and so is gold on open and CEY up as I type.
To clarify, I was saying -
1) These results are very good.
2) Why then is the SP so low?
er, that's it
3Bear
Yes, the results in some respects are very good, especially staff safety and the like. However, they have depleted cash by around $60M, half in divis paid and half on future cost saving investments. A part of the upside jam was given to us. The gold price has also moved sharply down of late and centamin only partly retreated on that fall. 83-84p is priced in unless something more said after 9am that is better explained over what is written in the RNS.
And don't forget world inflation, world interest rates going the wrong way, key causes on top of gold in all the majority of miners.
That was a pretty positive post from Sotolo!
With all the cr-p that we have had the last few years, a nice , boring "Steady as she goes" is welcome. Also, in the long run I think it will give Centamin and Martin Horgan a bit of credibility.
We now know what went on in the past and how we got into the mess that we did and it looks like Martin Horgan has been doing the spade work to put things right.
Did I miss it?? Was there any update on how they are doing clearing the "heap" ?
Hopefully the light bodied trucks and the solar will pay for themselves many times over. Now we could do with the price of gold moving in an upwards direction. Remember when there was talk or $3000, £5000 etc an ounce?
Im sure Mr T is reading and watching------and probably getting really wound up by the recent events regarding the Tories.
Anyhow Mr T, calm down, relax, enjoy yourself a bit and lets hope that in the not too distant future you will be wearing those custom made golden flip flops.
Paul is right, sometimes boring is good
At least the important numbers - production & costs - are improving. It has taken a long time but if we can now see a few quarters of steady & consistent improvement we should see the share price follow suit.
I have waited this long & can wait a bit longer - just hope they don’t do something stupid M &A/capital wise & set us back to square 1 :)
Let's hope this gives shareholders what we deserve - to stay above 90 at least !