Charles Jillings, CEO of Utilico, energized by strong economic momentum across Latin America. Watch the video here.
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✅ Our first Eastern Desert Exploration (EDX) drill campaign is now complete! The 16,000 metre programme focussed on the Nugrus block, immediately adjacent to our #Sukari Gold Mine.
👏👷 Kudos to our dedicated #exploration team for their hard work and unwavering commitment to #health and #safety, resulting in an incident-free campaign.
We look forward to sharing the results soon!
👀Read about our #EDX project: https://loom.ly/lK4Ropg
#CEY #Growth #People #Protect #Gold #Geology #NubianShield #Egypt
https://www.linkedin.com/posts/centamin-egypt-pharaoh-gold-mines_eastern-desert-exploration-edx-centamin-activity-7123216658998923264-dHVC
Steve I was not referring to Centamin back in 2011 but the FTSE 100 gold miners at that time.
Just noticed SP 500 has lost the support lines and starting to break down. Next line to hold is at 4116. Something big is starting to unfold.
JamesLavish .
US debt piral to trigger major credit event.
But then of course these commentators have to stay in the limelight.
CEY the trades are down each day, a reflexion of the nervousness on all markets in general.
I tend to ignore "fair value" as it's meaningless- the only value that matters is the actual value.
For the SP to rise, it needs the correct indicators to produce and then it will move up- "fair value" is not an indicator or figure, it's just an opinion...
Tony,
CEY dropped about 20% between June2011 and September2011, it didn't rise 50%.
None of those figures matter, I feel like a broken record.
Inflation, inflation, inflation, inflation!
Gold has not risen a the same rate since the CEY highs in Septmeber2020, but the costs have as inflation has added a clot here (on top of the additional stripping of course).
What's key is going to be what % of CEY cost base will deflate- eg what are their cost items eg fuel that will actually deflate, rather than simply inflate at a slower rate than now.
If the product you are selling doesn't rise at least as fast as the costs you bear- you are not in a good place.
The rise in oz's helps with volume against certain costs but not all costs.
Equally, as GDP continues to rise and the US economy doesn't seem to suffer due to the FED rate rises, the FED will keep rates higher for longer in fear of greater inflation so other costs go up.
Need a step change- and these must be in ACTUAL RNS release with ACTUAL results, not promises alas.
A decent UT/Closing price for the day in the end with Gold prices holding firm, CEY is undoubtedly trading very much under “Fair Value” here, particularly if Gold extends gains above the $2,000 resistance (a connecting bullish trend line is forming), GLA.
I do not recall Centamin trading below 7.2 PE rates. The company is earning far more than last year on the bottom line and we are trading at 20% lower valuations on the mean 2022 share price. Free cash flow is far higher than last year. We shall learn more on Monday. To go through major support lines on no volume where the descent breaks bollinger bands with no real news is staggering when gold is not that far off $2,000 an ounce. The suppression on gold miner stocks reminds me of what happened in May and June 2011. The suppression resulted in a 50% rise by September that year.
The market has not ignored the growth- this is why it’s down as it supports to the current native which is rates higher for longer - so gold and markets have responded and gone down in line with this
MrMyth
Your first message and welcome aboard. Centamin is sitting just above a major support line 78.8p area. The SP 500 4152 support line held a couple of hours ago. A fifth support line exists at 4149 and the next stop down is 4116 area. The only remaining areas of support are at 4045,3900 and then down to 3500. The reason why I am watching this is that gold may move sharply in response. This morning gold rose higher as SP 500 was going lower.
Hi guys I see lots of discussions on here and I am new to the website.
To me Centamin can be viewed as a company that gives you great exposure to gold due to its current and potential resources, and strong balance sheet. The way I see it is if the long-anticipated recession hits there will be money pouring into Gold ETFs and Index Funds causing gold prices and gold stocks to raise all whilst we get modest dividend. In addition, the spike in gold prices during economic downturn will provide us with one or two quite high dividends. If the potential undiscovered resources prove to be high Centamin could provide even greater value.
I bought it at £0.82 and probably should have sold it when it was £1.15 but there is still value to be gained from this company.
Steve
Not real growth and the market response has ignored the GDP print. On zero hedge they show how health care data is manipulated in the Bureau of Labour Services (BLS). So 4.7% health care inflation is manipulated by different measurements down to -2.6% by all the data now excluded. This actually has a huge impact on distorting GDP calculations. If GDP was so great then USA investment would be going up and now sharply falling. Unemployment numbers would not have been revised up 70,000 and companies in most sectors are reporting lower earnings. Sad to say the GDP number is completely wrong. The inventory increases always happen in October as they have Thanksgiving Friday sales and Christmas.
Another 3 years, t hope they find something because the mine will only have another seven years left!!
US 3Q economy grow at GDP 4.9% annual rate
Hi Sotolo,
Yes strange that, must be because the market has yet to be convinced, it will take more than slick presentations whilst the can containing the "Good Times "keeps getting kicked fever further down the road!
Hi Paul,
I believe you are correct $1850
Tibbs
H1 was around $1934 area sold and last quarter was around $1923 with the hedging.
How does it effect Centamin's profits?
I think they were working on an average gold price of $1850 this year.
Does anybody know what the average price of gold has been so far this year? I know we have had a few dips but I would have thought we are above the $1850?
Amazon should be charged an up front license to operate in the UK based on a percentage of global turnover. Then whatever magic tricks they pulled on PL accounting we'd have our cash already. Another benefit is that watching amazon's accountants scrambling to disguise global turnover would then become event television, ozarks eat your heart out. Sorry this is off topic
Small buy average down.
US SP 500 has 5 central support lines between 4186 to 4149. They are all contained in a 1% spread in the index. If they all go it is a major breakdown in the USA markets. Next support is somewhere near 3500. Could be a black October Thursday.
Gold at new all time sterling high, centamin at 79p
Bonds and gold go higher. Everything about to hit the fan.
European stock market indexes traded mostly lower in premarket trading on Thursday as investors anticipated the upcoming announcement of the latest monetary policy decision by the European Central Bank (ECB). Additionally, Mercedes-Benz, BNP Paribas and Volkswagen disclosed their earnings data for the third quarter of 2023.
The German DAX was flat at 8:00 am CET and the UK's FTSE 100 lost 0.32% at the same time. France's CAC 40 was 0.25% down while the Euro Stoxx 50 decreased by 0.48%.
The euro was 0.23% down versus the dollar at 7:59 am CET to sell for 1.05425. At the same time, the pound sterling lost 0.27% against the greenback to sell for 1.20790.
Baha Breaking News (BBN) / RR
Gold currently + .3% at $1985.
PhD project: Structural control and geological evolution of the Sukari gold deposit in Egypt
ECONOMIC GEOLOGY - MINERAL EXPLORATION
The position will be available from 1 January 2024.
BACKGROUND:
The proposed PhD project will focus on the Sukari gold deposit and involves detailed mapping of underground and open pit levels, diamond core logging, petrography and a variety of geochemical analyses in order to:
Establish a lithostratigraphic model for the deposit and the surrounding rocks which make up the Sukari Melange.
Construct a structural database and framework that allows the 4-D geometric reconstruction of selected gold lodes and the deposit.
Constrain the paragenetic evolution of hydrothermal alteration including hydrothermal veins based on, and in conjunction with, the structural evolution of the Sukari gold system, and the chemical controls on gold deposition.
Establish relative and absolute timing of hydrothermal alteration/mineralization/fluid events based on the relative timing established by mapping and petrography and absolute timing by geochronology, and
Establish a genetic model for the evolution of the entire Sukari gold system that can be ** translated into a robust and cost-effective exploration model **at the mine scale. The latter is aimed at the identification of extensions or concealed gold lodes in the deposit and surrounding area.
Samples for geochronology, hydrothermal alteration and fluid investigations will be selected based on detailed mapping and core logging within a mineral system framework.
Start date: As soon as possible
Fixed term: 3 years PhD plus 6 months extension (if justified)
Salary: The candidate is asked to apply for a UWA PhD scholarship
Place of work: Perth, Western Australia
https://www.earthworks-jobs.com/mining/uwa23101
------------------------------------->>>>
Not a bad idea to enlist a PhD candidate for free. They'll have unfettered access to the geophysical survey data (and more!) Centamin shareholders have yet to see (don't think we'll ever)
But surely this in-depth analysis to develop an exploration model for greater Sukari could, should, would have been done by now, no ? Or perhaps this will be a sober (& cheap) second opinion ?
So the clocks ticking and in only ten years Sukari is finished , ironic in some ways as at this rate they will have likely just about sorted the pit operational problems got the power supply sorted just in time for the gold to run out!i
So Sukari wont be any use other than some sort of extreme cycling park unless hopefully some meaningful reserves are discovered in the newly acquired blocks surrounding the main mine.
If that doesn't happen then no more profit share, no more DOD bonus shares and no more divi for shareholders, not mention a share price of zero!