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Tibbs why don't you think Doropo is a goer?
To me it looks a straight forward 150/200,000 ounce per annum ore body, OK nothing fantastic but a healthy addition.
Horgan has a pretty good record operating in West Africa which suggests he and his team are well connected.
Coup's occur in Africa it is all part of "development" as is corruption all taught and gleaned from outside influences, certainly not invented in Africa.
Yes agreed it don't come cheap but if investors don't understand that mining is capital intensive and risky then why invest in such ventures?
When was the last time you purched any shares in this company can you remember ? You proudly told us you were out.
:-)
You posted 'seems to me Cowichan is not on our side'
yet , who else on the LSE chat board highlights the data Centamin's management would rather bury in the pages or obfuscate behind a misleading headline ?
if you figure somebody who wants to prevent you and other LTHs from being deceived and ultimately losing money isn't on your side, you have no business purchasing shares in any company - ever
Gold equities don't seem to be moving as convincingly as the gold price. This doesn't seem to be a Centamin thing.
I believe the below from CEY's 2022 annual report is still true?
'(d) Commodity price risk The Group’s future revenue forecasts are exposed to commodity price fluctuations, in particular gold that it produces and sells into the global markets and fuel prices. The market prices of gold is the key driver of the Group’s capacity to generate cash flow. The Group has not entered into any forward gold or fuel hedging contracts.'
I just purchased some more shares at 82p- lets see if the gold equities market wakes up in the coming weeks. I bought some more GDXJ and Barrick a few weeks ago. Barrick up 20% since, CEY up 5% from the same date. Lets see if CEY catches a bid following the some plugging in the Sunday Times etc over the weekend. Back to 100p in the coming weeks?
Gold hits all time high today and Cey is 83p (both in sterling that counts for us). Hoc is leggin it back above us as suggested it would when bought more on Inmaculada permit news, should soon exceed £1
Non of the UK gold mines follow gold price. should have invested in barrack gold instead...
Seems to me Cowichan is not on our side, recently all he's interested in is trashing this stock. There is no bit of news relating to this company that he will report as positive though there has been plenty.
Gold: YTD +0.8% 5yr +60% (note- marginally down though in the past 3yrs)
OK:
All of the below are EXCLUDING Divis- inflation is the key common reason- precious metals nowhere near keeping up with inflation past 5yrs:
CEY : YTD -28% 5yr -19%
FRES: YTD -40% 5yr -40%
HOCHS: YTD +16% 5yr -47%
SRB: YTD +30% 5yr -6%
SHG: YTD +11% 5yr +135%
BARRICK: YTD -7% 5yr +29%
NEWMONT: YTD -21% 5yr +32%
For comparison on some key indices:
FTSE 100: YTD -2% 5yr +7%
FTSE AIM: YTD -19% 5yr -30%
S&P 500: YTD +12% 5yr +61%
Dow J: YTD +1% 5yr +35%
NASDAQ: YTD +27% 5yr +84%
NIKKEI: YTD +22% 5yr +48%
HANG SENG: -15% 5yr -31%
Ignore my last post- pressed wrong button- will complete shortly.
All of the below are EXCLUDING Divis- inflation is the key reason- precious metals nowhere near keeping up with inflation past 5yrs:
CEY : YTD -28% 5yr:
FRES:
HOCHS:
SRB:
SHG:
BARRICK:
NEWMONT:
Hi Rebess, I wonder if the recent Centamin price hedge contract is similar t this ?
https://www.lbma.org.uk/alchemist/issue-12/the-hedging-advantage
Hi Rebess,
Agree entirely!
Price of Gold very close to $2000 now and likely to breach this over the coming days and yet Centamin sp is nowhere to be seen. - People can philosophise all they like and experts can expert all they like, but something doesn't add-up here.
I'm pretty sure that everyone including Cowichan hopes that you are right, shareholders certainly deserve some good news!
All too often Centamin shareholders seem to behave like startled rabbits in the car headlamps, frozen stiff, afraid or unsure which way to move and seem afraid of asking a perfectly reasonable, or possibly awkward question, or even express what may well seem to be a justifiable criticism because they think it might be used by the market or traders to knock the Centamin share price down from its already bottom of the bargain bucket price, this of course is ridiculous to say the least!
The gold price is getting close to $2000 and yet the Centamin share price is less than 85p, that speaks for itself, people understandably remain deeply suspicious of he marketing and slick presentations because Sukari has yet to deliver and the Cemtamin management have gained a reputation for feeding the shareholders baloney, not even good balcony far too many times for far too many years in the past and it seems from this latest Q£ report that they may be trying the same tactics again!.
Cowichan is on our side, he does the research and asks the questions which really Centamin should answer, or at least give a reason why they choose not to, but instead they resort to blocking him on social media and linkedin, one must question the reason why, surely even if the question is based on incorrect information isn't it better to respond in a polite and professional manner, failure to do so does not put the company in a good light!
My emails to Centamin and to FTI now go unanswered , although I am led to believe that this is now the new company policy!
I would be delighted have some substantiated proof, or reason to praise the Centamin management, but as yet I can see no reason to do so, in fact quite the contrary.
Hi Paul,
I suspect they know more than they are letting on now!
How many time have we heard this in the past, how do we know its not more kicking the can down the road or stringing us along again?
Mr T --check the RNS from the other day.
It said "· Doropo Gold Project definitive feasibility study (mid-2024)"
Is that when the deciion will be made one way or another?
Hi Dasut, if Doropo gets the green light there will be a period when tens of milions of dollars are going out the door and into the ground in West Africa every quarter for no return. So the build phase will be a tricky period I guess...
Hi Dasut,
A mining annalist acquaintance of mine from what information has thus far been released described the Doropo projects as "Hardley a dripping roast!"
I realise since then gold prices have risen, but that said they cant be guaranteed and of course there is always the African risk factor of corrupt government, military cue or insurrection by jihadist and other rebel groups.
But those factors aside what should concern any shareholder or potential investor is that Centamin thus far has hardly a good track record regarding the creation of commercially viable mines outside of its Egyptian comfort zone, that said even then the management through a mindset of short term high profits at minimal cost achieved by deliberate bad mining practice and glossing over the true facts has created an appalling mess at Sukari for which shareholders are paying a heavy price!
I remain unconvinced about the Doropo prospects and cant help but wonder if it is being used as a diversionary tactic from the ongoing Eygptian problems at Sukari which has yet to deliver and will Doropo end up as being yet another money pit which will end up being handed over to someone else or just abandoned?
Cowichan it's been only 12 months since Cey cleared 127500oz in Q3 2022 - not so far away from 130. And Horgan mentions new "flexibility" in the open pit as a result of all the waste stripping - meaning access to better grades is available. I say Q4 production , barring further unforeseen production issues, will be very close to or in excess of 130000oz. You say not. Let's see who's right.
Paul right now I would settle for silver toe caps which is far better than the tin that we can maybe afford at the current SP. Will be a while before we get near the gold flip flops.
A question was also asked about when Doropo will influence the SP which again is a difficult prediction.
Initial impact will be when the green light is given to go mining. Then another impact will be when they ship the first ounces. My belief is that both of these will happen but when I have no idea.
Mr Bond tend to agree that is why I am asking where we are hearing that the plant closed for 30 days. As Cowichan rightly says 130,000 ounces is a big ask so they need a kick start of a considerable number of ounces.
Can the plant produce 130,000 ounces at the current low grades I don't know so worthy of a question for the retail presentation.
From my experience I have never ever seen a mine working at 100% of the optimum feed. By this I mean a truck feeding the mill, with the next truck backing up just as the truck feeding is moving away. This allows a percentage of time to feed with loaders from the ROM.
Guess it depends on the overall efficiency of the plant as to whether there is capacity to achieve the necessary ounces.
Https://www.swissre.com/institute/research/sigma-research/Economic-Outlook/us-economic-outlook-september-2023.html#:~:text=After%20an%20estimated%202.1%25%20real,%25%20by%20year%2Dend%202024.
The odds are on Israel going in- the main gold driver at the moment- US remains economically strong, jobless claims, gdp etc/ you can all research.
After going in quick again today- I may hold over the weekend as gold could continue to accelerate on balance. Of course could drop on counter news, but on balance….
With CEY being confident on hitting low end (they must have something up their sleeve like Dasut mentioned)- again on balance more likely than not- get your questions in for the 30th October!
We all know the questions
Yes, strange old world ... Some v interesting if not balanced (there is a lot of unbalanced stuff floating around) conversation ?
We are pleased to announce the release of the next instalment of John Anderson Conversations, with Victor Davis Hanson.
John is joined by military historian Victor Davis Hanson to discuss the escalating conflict in the Middle East. This conversation was recorded on Wednesday the 18th of October.
Hanson argues that Israel is in a unique position to retaliate unencumbered by American opposition, due to the bi-partisan support it currently has in the US. However, he contends that conflicts like this, and others such as the war in Ukraine, would probably not have transpired had President Trump still been at the helm.
Victor Davis Hanson is an American classicist, military historian, columnist, and farmer. He has been a commentator on contemporary politics for the National Review and The Washington Times and is currently the Martin and Illie Anderson Senior Fellow at Stanford University’s Hoover Institution.
In addition to writing hundreds of articles, book reviews and newspaper editorials, Hanson is also the author of twenty-four books and hosts a regular podcast series, 'The Victor Davis Hanson Show'. Hanson was awarded the National Humanities Medal in 2007 by President George W. Bush, and was a presidential appointee in 2007-08 on the American Battle Monuments Commission. His latest book, The Dying Citizen, was published in October 2021.
https://www.youtube.com/watch?v=FG0cgViEcc8
Its good to get away from the trail of the lemmings
best the gnome ... and go gold !!!
Prospects for Gold are significantly improving, and CEY as the best UK listed Gold option here (IMO) is now simply looking way too cheap.