The latest Investing Matters Podcast episode featuring Jeremy Skillington, CEO of Poolbeg Pharma has just been released. Listen here.
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Yet our UK Government won't make Amazon pay its fair share of tax let alone share its profits!ay.
a new Channel 4 documentary shows that Amazon wouldn’t be able to make its huge profits without using our UK oads, but they refuse to pay their fair share in tax to contribute to maintaining roads here in the UK. That’s why over 52,000 of us have signed the petition started by Tax Justice UK, demanding that the Chancellor close the loopholes Amazon has been taking advantage of.
But if we're going to get Jeremy Hunt’s attention, it's going to take even more of us speaking out. So, will you sign today and tell the Government to make sure Amazon pays their fair share of taxes? It will take 30 seconds. After you sign, will you share with 5 people so we can get the petition as big as possible?
https://tinyurl.com/9bf27wdm
[1] UK Parliament: Why taxes?
The Guardian: Amazon’s main UK division pays no corporation tax for second year in a row
[2] YouTube: I Went UNDERCOVER Inside Amazon | The Great Amazon Heist | Channel 4 Documentaries
The Telegraph: The Great Amazon Heist, review: ingenious exposé gives Jeff Bezos a bloody nose
Hi Dasut,
Agree entirely, although over the past decade or so shareholders have endured some very challenging periods to say the least this next quarter possibly ranks as one of the most critical phases in regard to the future fortunes of Centamin, certainly as far as we shareholders are concerned!
Tibbs
Sorry should read $125.7 million
So far there hasn't been an issue to the just in case worse case situation on various impacts and whilst not great currently they have cash or cash equivalent (internal liquidity) of $125.7 according to 3rd qtr report.
However this next three months are critical.
Major stock indexes in Europe traded lower in the premarket on Wednesday as investors braced for the European Central Bank's newest interest rate decision, which will be revealed tomorrow. On the agenda today is a report on the business climate in Germany. Meanwhile, Deutsche Bank and Santander both released their quarterly earnings results.
The DAX lost 0.11% at 7:43 am CET. At the same time, the FTSE 100 edged down 0.06%, the CAC 40 declined 0.20% and the Euro Stoxx 50 fell 0.17%.
The euro was up 0.10% against the dollar at 7:43 am CET, selling for 1.06001. The pound traded 0.09% above the greenback and went for 1.21703 a minute later.
Baha Breaking News (BBN) / AY
Happy hump y’al
The Legacy play of Bitcoin via portable multi key possible via Swan or other partners interface may be possible ?
BlackRock may dominate Bitcoin Etf funds?
Bitcoin ETF approval could come at the end of this year. However, Livera doesn't expect this to happen until 2024.
"Although many experts predict that [a spot Bitcoin ETF] will come in three to six months, I don't believe it will happen this year. Next year is the more likely scenario … in the first or second quarter of 2024, which would coincide with the halving cycle, which is expected in April," he said.
Next year's halving and the approval of a spot Bitcoin ETF are the key triggers in opening the floodgates into Bitcoin, Livera pointed out. "There will now be so many more people investing in Bitcoin through that spot ETF," he said.
Is Outlawing Bit Coin likely?
Steven Livera's of Swan reasons why he sees $500,000 as the peak level in the next bull market followed by an 80% sell off?
watch the video https://tinyurl.com/58kbfstc
Another way to anticipate the year end cash balance is to look at historical precedence -
from the same page as last post :
https://www.centamin.com/media/2940/centamin-ar22.pdf
Centamin's cash and cash equivalents :
at the beginning of the year 2021 $ 291,281,000
end of year 2021 $ 207,821,000
2021 burn $ 83,460,000
at the beginning of the year 2022 $ 207,821,000
end of year 2022 $ 102,373,000
2022 burn $ 105,448,000
end of year 2023 $ ???
2023 burn $ ???
Interesting comment Cowichan
I notice the gold price they use is $1600 per ounce. I would suggest it would be a bit more than this. Impact?
..and where will the POG be in a year?...
Mr Hockey (Oz´s ambassador to the US) lamented that Western governments of both the left and right had lapsed into an “abyss of populism”, one in which politicians readily racked up debt instead of making difficult decisions. He said this was a trend that could “come to an end” through a debt default....painted a picture of a Latin American-style future for the US and Europe, if the markets ever lose confidence in those spendthrift nations’ ability to service their ever-expanding debt.
Mr Hockey told the Institute of Economic Affairs in London on Tuesday (AEDT).
“Political leaders are afraid of hard decisions, when everything can be bought with borrowed money. That sense of entitlement, that you can give people everything they want, is a cancer in our community.”
As a result, even though the US capital market was the world’s most important, and the country’s markets were still the go-to safe haven, “the risk of default has unquestionably increased”.
“The US keeps going because the US dollar is the default currency of the world. Until it’s not. And you can see other countries starting to gather around alternative currencies. I think markets are more liquid and wider and broader than ever before. So it can come to an end,” he said.
I believe the world has got to move off its unhealthy devotion to the US$. It is singularly unhealthy, and the moves have been underway for a time now.
The war drums are again beating in the usual places, a bit louder than previously. More debt for the US as it limps from one war scene to the other...and why? Plenty of things to divert people analysing the unserviceable debt build up ... its great when you can print as much money as you like as you own the currency ... sure you can huff and puff about it, but you print it anyhow...and kick the tin down the road to future generations.
So we have the situation where the young fight the present wars, and then pay the future debts. Well done governments of today. History wont judge you well.
the gnome
Forecast estimate taken from page 161 of Centamin's 2022 Annual Report here:
https://www.centamin.com/media/2940/centamin-ar22.pdf
The scenarios and impact on liquidity is as follows:
- Base case: No change to parameters, expected closing cash balance of US $52 million
- Fuel price increase to US $1.25/litre: resulted in a closing cash balance of US $9 million
- Processing capacity reduction by 20%: resulted in a closing cash balance of US $ 10 million
- Processing plant recovery rate reduction to 85%: resulted in a closing cash balance of US $37 million
--------------------------------------->>>>
My Thoughts:
Centamin's current cash burn rate is high, even given a no problem base case being met. What if it doesn't meet 130k in Q4?
A potential Q for CEO Horgan next week , what is the plan to reverse the cash burn rate ?
Granted the Capital waste moving contract is scheduled to end mid-2024 and could help the burn, however, the Capital contract may be extended, to deal with escalating waste stripping ratios now baked into the new LOM
Oops yes it should have been 500 kt what a mistype. They have probably mined out 1500 kt of ore ready for processing from the open pit. It therefore is down to underground grade being used in the mine plan and KT uplifted above the usual 220-245kt range.
Tony 500 tonnes is only 3 and a bit truck loads and at less than 1 gramme a tonne we are talking less than 500 grams or about 14 ounces. So they need more like 280/300,000 tonnes on the ROM to get close to the 10,000 ounces if we are talking open pit.
Now if there is 30,000 ounces we are talking getting on for a million tonnes of ore which is a hell of a lot of ore to be loaded into the hopper(s) and we are talking double handling albeit a short haul distance. it is still over 6,000 truck loads or 30,000 plus loader passes.
Hence my question being similar to Steve's.
All doable and not overly difficult but it does mean diverting truck(s) and a loader, however not sure if the plant can process this extra tonnage to achieve the 128/130,000 ounces needed to make bottom end target.
Agreed underground tonnage and feed grade will be all important.
So will be interested in hearing what their answer is.
Happy
WEll Mr T you got two likes from your friends Cowichan and Rebess.
Now you can go to bed ;-)
The only chart gap created this year is between 100.5p to 101.1p created on 2 June 2023. Sharing this to save those interested from checking it out. At some point that gap will get filled as it is above 0.3p, typical difference to ask and bid.
Yep- well they’ve responded to my questions before- maybe if your emails to them were constructive, concise and relevant, they might respond to you and your mate Cowchain- who’d I’d ignore if I were them too.
If you read my past posts correctly you’d see that sometimes I hold for longer profits, but am strict on stop losses- I ask concise questions that can provide SP movements, and not lots pointless meaningless detail.
Very impressive, especially considering you have told us more than a dozen times that you are day/momentum trader?
Cey have confirmed my questions will be answered on the 30th
For every 500 tonnes sitting on the ROM pad they have 10,000 ounces of mined out gold ore for processing. If they have built up lots of low grade ore as stated in Q3 then around 1500 tonnes in total amounting to 30,000 ounces is in the back log of milling. The milling down time appears to be 18 days for one mill and directly created a 500 tonne processing shortfall and dropped Q3 output by at least 10,000 ounces. The capacity of the mills could recover the 10,000 ounces in Q4. However the underground feed grade has to be higher or they pull up more tonnage of usual grades. The future of Sukari was moving underground mining rates at 220 kt and future targets are at 385 kt. However, that may impact on the grade going into the feed. I wonder if they will try and deliver 290 kt underground feed in Q4. Hopefully, the CEO may give a hint if that is what he is doing when he replies to Steve's question during Q4.If so then I believe 450,000 target remains possible.
OH, sorry DASUT, I mean $US equal 34 Egyptian Pounds
What has management got to do with it??? The middle East including Egypt is on the brink of major conflict and the UK will be on a different side to them. Who think its conducive for business here?? All the more gold is languishing and all miners are suffering. Yes some positive news would be ideal but this is a mine way past its operational prime and the AISC is going one way which is up over time. I don't think this is realistically touchable. Further, if management start shouting loudly about success or increased dividends what do you think will happen?? Same as what happened in Tanzania with a mine that isn't part of a more powerful group, the rules will change and they ll come for more cash. I will but at 60p if it gets there around 10Ks worth and if it doesn't no regrets. I'm sure the sp will go on a march at some point but this is a risky stock.
Gold - 0.60% today
Gold up, Cey down, Why?
Dan, sorry I don't understand one US $ is worth 0.82 Pounds Sterling. What does 34GBP mean? Thanks
Steve, I have asked similar question to your 1. Good question 2. I have previously asked the cost per tonne for the waste contract but haven't received a direct answer although there was at one of the phone ins a throw away number $2, but not confirmed.
All you have to do is email to: investor@centaminplc.com
I sent in the 2 questions below- under the name Steve Jones/Steve Smith:
Question 1:
On the 26th July 2023 “Interim Results RNS Update” RNS reported total production for Q1+Q2 was 220,561oz, and you were on track for mid point of yearly total circa 465,000oz.
Q3 RNS update stated 101,370oz, so YTD of 321,931. RNS stated new YE forecast of low point would be met, so 450,000oz minimum, which now leaves Q4 requiring 128,069oz minimum.
Please describe and demonstrate why you are confident you can deliver 128,069oz minimum in Q4, when this will represent the largest Quarter this year by ~12% (over Q2) and ~19% over Q4 in 2022.
Question 2:
Since the wall issue in October 2020 which called Share Price issues, I understand the AISC have been high due to the additional stripping work required. You state in early 2024 that this excess work will be completed, so I can conclude there will be a reduction in AISC- what is the approx. reduction in AISC attributed to this issue ONLY.