Firering Strategic Minerals: From explorer to producer. Watch the video here.
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Regarding Doropo in Cote DIvoire (7ish minute mark) Horgan says - 'we're hopeful to be able to make a financial decision by the end of this year.'
Horgan's statement is non-sense. The main deposits' permit is defunct June 2024 ( i.e. no more renewals ) and if it's determined to be 'no go' then what - just walk away like Batie West? Horgan should have been searching for a buyer for Doropo over the last 6 months and sold it by now. Incompetence, arrogance and irrelevance on full display. Shareholders are taken for fools.
Watch for yourself https://www.youtube.com/watch?v=Sss6zwnkuus
AHA! Mr Ray O'Sunshine is back! With the GP pushing 2200 and Cey over the £1 mark I did wonder how gnashing must be your teeths? Hahaha.
Having said that you do raise a bloomin good point. Suddenly Doropo is no longer progressing to FID. That is not good news.
Excellent Martin Horgan video interview.
Thank you Cowichan for bringing this to the attention of this message forum.
*This is a must see for anyone who owns Centamin shares.
Cowichan are you saying that a mining licence expires mid year or a prospecting licence expires mid year? As I read it Doropo can still apply for a mining licence after which they have a time period to go mining or indeed as you say sell it on if doesn't fit their core business model. Certainly a good question to ask at the next presentation of results.
what does he really tell shareholders, nothing new same old parrot fashion rushed through rhetoric of what may be coming in the future, nothing certain!
martin horgan well rehe****d sales talk that hasn't really changed in three years, this may as well be a presentation on double glazing or vacuum cleaners!
I think Cowichan has raised a very valid point, considering Centamin Investor Relations have ignored these questions several times when asked directly in writing I doubt we can expect a straight answer anytime soon though!
Anyone that doesn't believe this should email Centamin themselves!
9 Mar 2024
The gold price is hitting all-time highs, but there is still scant interest in junior miners, noted JuniorMinerJunky's David Erfle.
On Wednesday Erfle recorded the inaugural show Digging Deep, hosted by Kitco correspondent Paul Harris at PDAC in Toronto.
PDAC is mining largest annual get together. Over 23,000 delegates attended last year's show.
Erfle noted the lack of love junior miners are attracting despite precious metals jumping higher.
https://www.youtube.com/watch?v=JiBnO0yQiGY
Doropo 03 Apr 2023
In response to your first email around the purpose of the update.
Earlier in the year we had committed to updating the market on the Doropo pre-feasibility study ("PFS"), the announcement was following through on that with an update of the various workstreams and their various stages of completion.
The update also enabled us to communicate the following:
Firstly, that we had identified an opportunity to make significant capital and operating cost savings within the processing circuit.
Secondly that in pursuing this opportunity publication of the PFS was being deferred until we had completed the necessary test work to evaluate the cost saving opportunity, to ensure we published the most comprehensive PFS based on available data.
Finally, the update was also necessary to communicate the updated Mineral Resource Estimate (“MRE”), which demonstrated a significant improvement in grade from the preliminary economic assessment ("PEA")
As mentioned in the recent full year results, we look forward to publishing the results of the completed PFS in June this year.
In response to the second
The grades in the MRE update are correct. The data was prepared by and under the supervision of the Group Qualified Persons, Howard Bills, Group Exploration Manager, Craig Barker, Group Mineral Resource Manager, and Mike Millad, the independent Qualified Person from Cube Consulting Pty Ltd. All are geoscientists who fulfil the requirements of being a "Qualified Person(s)" under the CIM Definition Standards.
In the June 2021, we published the PEA MRE and in November 2022 we published an update. Historically the Inferred Resource grade was at 1.13g/t, and this was updated to 1.14g/t. Previously the Mineral Resources were unconstrained (at any gold price, which is not unusual for an early stage study). When we published the November 2023 update, the Mineral Resources were constrained within US$2,000/oz open pit shells to outline the scale of the Mineral Resource that has the potential to become economically viable to extract at our reserve evaluation gold price of US1450/oz. This is a more rigorous approach involving the application of the Reasonable Prospects for Eventual Economic Extraction ("RPEEE") criterion reflected in most current reporting codes. The June 2021 PEA outlines that the Doropo project is a series of individual resource deposits rather than one singular deposit like Sukari, with deposit grades ranging from ~1.0g/t to 1.7g/t, depending on the way the pit optimisation were run it will have generated open pit shells from those deposits (albeit using updated drilling data from the PFS). The grade dispersion will vary with the geology and the drilling information/density. As such, portions of those pits will be at lower grades and in the Inferred Resource category.
No letter how high the GOP is, if Martin Holgan does not pay investors a decent devi, nobody trust what he said
Martin Horgan has spent a great deal of money ,but as yet the share holders see little improvement in share price or the derisory dividend?
Is this year going to deliver or will the can of promises continue to be kicked down the road?
I think the Q1 results in April need to show better than "Steady as she goes+" . Being on target or better for ounces mined so they are not playing catch up later in the year would help. An update on the waste removal contract end date and a bit of news on "Little Sukari" project would also help. The dividend needs to be upped a bit, which they should be able to do, given the price of gold in the last 6 months.
I asked the question and got a reply that I was expecting as the current licence is valid for exploration and does expire mid 2024 .
The response from one of Centamin's corporate analysts is as follows:-
We have until the middle of 2024 to submit our application for a mining license, with an additional 90-day period taking us to late Q3. However, we intend to submit our mining license application (DFS + ESIA) by the middle of 2024.
We then envisage a 3-6 month approval process, pending approval, we will be in a position to go to the board and make a final investment decision.
We are also considering the potential to expedite the final construction timeline by completing some low cost early works (roads, equipment downpayments, construction camp etc.) ahead of license approval.
So all sounds positive.
Sorry I should have said my question related to Doropo and my question has been answered fully and with a little extra detail than just how the licence expiring is being handled.
Good response received DASUT, thanks for asking them and posting your response- I will post my responses to questions also in the future and they tend to answer the questions.
Thank you for asking Dasut
I have noticed over recent months that any enquiries are rarely answered by either Centamin Investor Relations or their new PR company fti, but instead seem to be delegated to corporate analysts to answer?
Tibbs, I would rather have someone on the ground floor of the business respond to my questions than people on the periphery of the business. The guy who I spoke to knows what is going on and what he is saying makes sense and fits with what I pretty much thought would be the response. Even the early move towards opening up the mine and preparing for the start up process follows what I have experienced previously.