Charles Jillings, CEO of Utilico, energized by strong economic momentum across Latin America. Watch the video here.
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Thank you Mr Bond,
This confirms what I asked Kees Dekker explained to me around four years or so , he also explained about the importance of not allowing the pit wall to become too acute!
Kees seemed to think that some analysts wouldn't know what they were looking at anyway and relied upon what the management showed or told them!
So one must ask the question Is it really prudent to put any reliance upon the majority of number punching corporate analysts when considering whether to invest in a mining company!
Actually Steve I make it with 10% inflation and 4% divi taxed unless in ISA it is about a 7% real erosion of capital
A bit of positive news for everyone!
200, 000,000 shares snapped up by bargain hunters.
I meant SP not CEO lol
CEO flat in last 12months and approx 4% given back in divis, so past 12months is an approx 4% gain on this stock.
As I said, it's irrelevant who are the top shareholders UNLESS you value their views, when, of course it is. I would be happier with higher risk ones- you have to question their capability if they were holding during the wall issue.
Major stock equities in Europe were lower in the premarket hours on Tuesday ahead of the release of inflation data in Germany. Meanwhile, investors digested Bayer AG second-quarter financial results.
At 8:00 am CET, Frankfurt's DAX dipped 0.12% and London's FTSE 100 lost 0.46%.The Euro Stoxx 50 fell 0.16% and the CAC 40 was down by 0.30%.
The euro was flat against US dollar, selling at 1.109996 at 8:02 am CET. The pound traded 0.19% lower versus the greenback, going for 1.27592.
Baha Breaking News (BBN) / AB
The CEO always needs to put on a show. If he or she does not, then its time to go.
Very simple. Everyone is replaceable ...
the gnome
During the last 12 months. 200 million shares!
Many of these companies like Blackrock, abrdn, Schroders, Vanguard, etc had held for over ten years - through thick and thin - collectively owning 524,413,488 shares
So then, to collectively sell 200,000,000 Centamin shares in such a short period of time is THE strongest sell signal an investor will ever witness and the biggest indication CEO Horgan actions' have not won their confidence -
6 analysts have raised Centamin earnings forecasts in the last 30 days. (1 was raised a week ago). 4 analysts have raised earnings for 2024. The increases are 50% higher per share than in 2022. It appears only 1 analyst has earnings may be lower in 2024.
Centamin book value has declined 10% in the past six weeks. It now trades 1 times book value. It usually trades above 1.1 historically since 2019 although a low of 0.76 was reached in 2022. Not one analyst has given Centamin a sell rating at this current time when quite often one or more could be found.
The SP performance is now 43% lower than the mean of analyst forecasts and this has sharply widened over recent months. In the past, Centamin performance was either below analyst forecasts (10-15%) or actually as they predicted as was the case pre-2020. This of course may relate to what analysts may also think on future gold prices in the coming months.
Tony
Fair points. 👌
To me,I imagine Horgan is confident of achieving and is not interested in showing anyone he needs to put on a show .
It could be shown as a weakness trying to convince anyone. Playing to the audience of investors.
More importance the final result.
The final result will prove competance.
We’re on the way Tibbs. Anyhow, you must have made a nice bundle from trading here over the years. This Egyptian gold pit has been generous to me too.
We’re all running on the blind, that’s why I’d like to see large Horgan and Jerrard share purchases. It eats at me that they’re possibly not fully committed.
We need skin in the game, the more the better.
And yes Horgan and crew ,I feel ,more than capable .
Proof is in the pudding.
Yes I wonder how long it had been since they visited sukari.
Thank you mrBond, what I can understand is that I’m not knowledgeable enough to understand. But I still feel “Alias Horgan and Jerrard” are capable of correcting matters. And with Cote d’lvoire have a possibility of catapulting the company ahead of where it was prior to the crack in the wall news. Leapfrogging all previous valuations.
A stepped pyramid upside down
There was nothing obvious to see in the open pit.
The removal of the waste was hidden within the wall of the open pit, which was a sharper angle than the accepted 45 degrees.
thus making it unstable.
So it was clear the angle of that face had to be reduced.
Difficult to achieve, some from on top and much more no doubt from below mabe in stages ,having to cut roads into the faces ,though no doubt many existed from the original cut.
I hope you can visualise it.
Quite so Daz, he appears to be doing a good job, but is it just another desert mirage or wishful thinking that this time it is different!
The past has delivered far too many glowing reports full of promises of good times coming the very neat quarter that delivered disappointment instead!
When we see the AISC reduced by a third and the delivered guidance of good quality grade ore with the share price at least 50% more only then I will be glad to acknowledged a good job done, but until then I remain cautious!
Absolutely Razor's,
Unfortunately this type of sharp practice of hiding an unavoidable, but a considerable proportion of the full operational cost of mining operation is used by a number of unscrupulous mining companies to reel in the uninformed and naive investors, the environmental damage is huge,, as is the cost of putting things right,but by the time it becomes apparent the directors have usually filled their saddle bags with swag and moved on to another project!
Absolutely correct Goldgnome :-). There’s of course always a list of the highest holders and they frequently alter marginally % wise- it all depends on how much you value the view and what the drive is behind the current high list - I would welcome new higher risk holders holding sway, but that’s just my view
Cowichan, the question is….who is scooping up those shares…
It is interesting to search on google images or for mining videos on YouTube so you can get a visual of what a waste mountain at a gold mine actually looks like.
I mentioned a while ago and was Johannesburg South Africa which was founded by gold and diamond mining. They have always had and still to this day have problems with the gold mining waste. My point is the previous management got away big time by not removing the waste.
It’s bing corrected now, but surely there must have been a massive visual.
Saved a fortune by not employing a waste removal contractor, enough to make up £300m.
B’Nora!
But there you go again Tibbs, it’s old news and water under the bridge. We’ve all read the recent RNS, they’re clearing the waste and hitting targets. ‘Hannibal’ Horgan appears to be doing a great job and appears an effective leader of this new and improved ‘A-Team’.
On Centamin , and you're right - they have sold out
while Centamin's website still lists its MAJOR holder data as thus :
#1 VanEck Inc 111,244,970 shares 9.62%
#2 BlackRock 75,482,689 shares 6.53%
#3 abrdn plc 59,896,169 shares 5.18%
#4 Dimensional Fund Advisors 57,019,844 shares 4.93%
#5 The Vanguard Group, Inc 52,983,780 shares 4.58%
#6 Schroders 45,208,584 shares 3.91%
#7 Ninety One 43,647,274 shares 3.77%
#8 Aberforth Partners 41,332,214 shares 3.57%
#9 Wellington Mgt 39,703,129 shares 3.43%
#10 Hargreaves Lansdown PLC 39,227,049 shares 3.39%
Marketscreener lists Centamin's MAJOR shareholder data as thus :
#1 Van Eck 110,273,580 shares 9.519%
#2 Dimensional Fund Advisors 47,425,970 shares 4.094%
#3 The Vanguard Group 41,000,780 shares 3.539%
#4 Hargreaves Lansdown 3.386%
#5 Aberforth Partners 38,141,675 shares 3.293%
#6 Norges Bank 2.811%
#7 Schroder Investment Management 31,157,324 shares 2.690%
#8 Ninety One UK Ltd. 27,128,540 shares 2.342%
#9 BlackRock 18,356,831 shares 1.585%
#10 Abrdn 18,275,264 shares 1.578%
https://www.marketscreener.com/quote/stock/CENTAMIN-PLC-9730915/company/
----------------------------->>>
Thus unless Marketscreener data is bad , which it probably isn't ( note: Centamin's website data hasn't changed in a long, long while) Centamin's MAJOR shareholders have sold down massively -
Blackrock SOLD 57 million shares
Abrdn SOLD 41 million shares
Vanguard SOLD 12 million shares
Dimensional SOLD 10 million shares
Schroders SOLD 14 million shares
Ninety One SOLD 16 million shares
Wellington SOLD a minimum of 21 million cuz they're no longer in the top ten
Yes, VanEck and a few others are holding steady - but to present this current weak share price as a buying opportunity , and then pointing to the larger players as proof - is not accurate, in fact it's just the opposite