George Frangeskides, Chairman at ALBA, explains why the Pilbara Lithium option ‘was too good to miss’. Watch the video here.
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Sadly Liberum were right a couple of years ago ? When we were over a quid and they targeted low 80's?
As you know Mr T , I've always said that i would like to see moire director buys and on a regular basis. With the money they are on, I'm sure that there could be a buy of say 50,000 to 100.000 by at least one of them a month. A few buys over that would give a bit of confidence.
I'm hoping that we do start to get a good bounce up from here and then a steady sustained increase without any drama.
I would have more faith in Martin Horgan's statement that Centamin looks very cheap in the 80's if he bought a million or two himself, words are cheap when your shares are free though!
What purchases senior directors have made so far are "Chickens feed!"
So far Liberum have been far more accurate about the Centamin price than any of their corporate brokers and analysts who are after all "Bumming the company load!"
Sotolo,
Centamin production is 22% higher in H2. Pound sterling may also retreat as the currency is heading into a recession. The company earns in USD. Centamin also declared an increase in 1.8M reserve ounces of gold in the ground equivalent to 3 years production. It does not make sense to be as low as this. 87p is sub 1700 gold price.
Tornado, I think the the market looks forward and it is concerned/ factoring in that if gold keeps falling and costs keep rising that H2 profits may be considerably lower that H1 which ends tomorrow and should be pretty good when revealed in a month.
It has retreated again this morning. We are witnessing kitchen sink bear market. I still have cash in the portfolio to support positions. Awaiting to see how crazy this may get. At some point Centamin will turn and it will have a very powerful rally behind it. The company will report significant H2 earnings with average gold sold over six months above $1930 an ounce. My timing as usual was on the early side. Horgan was right when he said Centamin on the 80's handle is very cheap.
Major European markets were mixed in premarket of Thursday amid the latest data and discussions on inflation.
Investors remain attentive to the data and possible actions to be taken by the European Central Bank (ECB) after President Christine Lagarde indicated that there is still work to be done. In this regard, the German and Spanish CPI reports, and the Eurozone business and consumer survey are expected today.
The DAX lost 0.07% at 8:07 am CET, while the CAC 40 added 0.07%, and the FTSE 100 was flat. The pan-European Euro Stoxx 50 inched down 0.05% a minute later.
The euro was down by 0.16% against the dollar at 8:09 am CET, selling for $1.08957. In comparison, the pound was flat to go for $1.26285 at the same time.
Baha Breaking News (BBN) / JG
Posted June 27
Allied Gold Corporation joins us at the Egypt Mining Forum as a bronze sponsor. Allied Gold Corp is a private equity and industry-backed specialist in transforming gold mining assets in Africa. With a focus on turnaround projects*, they have successfully operated three producing mines and have had two development projects in Africa for over a decade. Their operations span Cote-d'Ivoire, Mali, Ethiopia (under construction), and Egypt (early exploration)
https://www.linkedin.com/posts/egypt-mining-show_egyptminingforum-mineralwealth-miningindustry-activity-7079440537166000128-VzF7
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Background Information:
Note the line from above * "with a focus on turnaround projects"
Allied 'was' a private company but is going public soon and will have a multi billion dollar market cap. Additionally they've already raised $300 million cash in a bought deal to use in acquisitions/ development.
https://ca.finance.yahoo.com/news/allied-gold-corp-limited-allied-145100716.html#:~:text=As%20previously%20announced%2C%20Allied%2C%20AMC,combination%20and%20Going%20Public%20Event.
Coincidently, Allied's Chief Geology & Strategic Officer Greg Winch was at one time the exploration manager at Sukari - and was gifted a generous package of shares for his troubles. Funny how these things come full circle...
Series 30: 400,000 shares were issued to Greg Winch under the ELFSP on 21 June 2011. The share based payment arrangement was exercisable on 30 Sept 2014
https://www.annualreports.com/HostedData/AnnualReportArchive/C/LSE_CEY_2011.pdf
https://www.linkedin.com/in/greg-winch-885b013b/
Thanks TerryMC1
and who knows what the final cost for Doropo would end up being - given inflation , perhaps another 10 - 15% by decision to proceed(abandon) next year
Steve
We all invest in ways that we are comfortable with. I am quite happy building my positions and if I have to wait awhile to an exit time so be it. Just under 6% of my portfolio is in rainbow rare earths and I am quite happy to let it sit there for the next 3 to 4 years and do nothing with it. Centamin I titrate in and out of the stock and it has worked well for me over many years. I do recall on one occasion probably December 2015 when the RSI touched 18. It was of course a major bottom. The RSI on the daily is around 23 and that is not that common and very low for Centamin. Tony
Tony, this sort of info doesn’t influence my trades.
80,000 of those I bought the other day sold when S/L hit alas today :-(. The rest could go early doors tomorrow.
I have strict loss rules as well as T/P rules, although, as most do, I’m a bit less strict on the T/P ones. I do it in blocks, without a huge change in SP sell %wise so as to get best price as cost per trade for me is low. Was close to my T/P yesterday morning, but heyho, can’t win them all. So long as you keep winning more than losing, profits increase. I got burned here a few years ago by simply just holding. When I go back in again isn’t on absolute price it’s when my markers and data points get hit- I go in either higher or lower than previous sell price- not fussed on what the SP is, my only interest is the next trade making a profit.
What a horrid couple of years, even the dividends are poor. My new hope is the yield curve inverting snd a possible drop in interest rates if we look like a recession, apart from that i don’t trade this anymore, I just wander and hold aimlessly waiting for a direction and some good developments from the BOD.
9 days in a row of continuous selling on Centamin. There has never been 10 days of retreat since 1 January 2019. The last at 9 days was the 106p to 80p drop December 2021. Still bought another tranche at 89.22 today.
Alas as I’ve said before Tony, it doesn’t work like this- this is why PMs are such a high risk.
It was only worse then currently when movement was discovered in the Sukari wall 2 October 2020. Gold was at it its lowest in the past 4 years around April 2019, 1270 ish per ounce.
The last two occasions the Centamin technicals on RSI and slow stochastics managed to get lowere then now was around 10th October 2020 and 18th April 2019.
So what happens? the company not turning into fres is it?
Posted 1hr ago
It's been a pleasure to meet you in person James Siddorn. We had lots of insightful discussions 💡 that really helped me see things from a different and more wide perspective 🧭. I'm looking forward to next time we meet 🤝🏼. My best wishes for you Mr. James🍀
https://www.linkedin.com/posts/mohammed-el-shinawy-3bb73810a_its-been-a-pleasure-to-meet-you-in-person-activity-7079814094735704064-xOEk
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James is just the latest specialist brought on site to 'teach' the locals how to interpret the Sukari deposit (it was Bret last month). James creds:
I am a specialist in the structural analysis of ore deposits, focused on deciphering the deposit-scale controls on ore plunge, geotechnical domains, seismicity, and hydrogeological pathways. I am also an expert in the applied geological interpretation of aeromagnetic data, and have extensive underground and surface mapping experience, and a broad mining experience in conventional and mechanised underground mining.
I have spent 20 years in the structural analysis and 3D geological modeling of gold...
https://www.linkedin.com/in/james-siddorn-11174614/
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I do hope these international pros help decipher Sukari's potential , cuz...
https://www.youtube.com/watch?v=zTcu7MCtuTs
89p Centamin is usually $1810 gold price. At 1915 it should be 103p.
While it is a bit political Mr T. I agree. Personally, after the bank bail outs, I couldn't understand them selling the shares back to the RBS for less than they paid?? They should have at least kept hold of them until they had made a good profit and even better if they had just kept hold of them. Water companies and rail should be nationalised again. How many times has the east coast railway been nationalised and then privatised again. They get it running at a profit and then privatise it again??
Ok --enough of the politics from me for now. :-)
To be fair Berenberg commented yesterday.
27-Jun-23 Berenberg Bank Buy - 145.00 Reiteration
Mr Tibbles , Martin Horgans original announcement clearly said "Possible Bonanza grades".
Seems some people forgot that "Possible".
I trust the vast majority of brokers like a rattle snake at a lucky dip and the corporate analysts are in the pockets of the companies they work for, so i would just like to see some actual measurable proof , that is the AISC dropping as a result of a firm notification of cessation of waste clearance , some news of if the bonanza grades do actually exist and if so how are the benefits being utilised and how much is being saved by running on solar, rather that endless sales talk and promises!
Hi Paul,
Yes lets hope that we start to see a sustained share price recovery once, yes once it becomes more than just yet more promises that fade away like a desert mirage!
On another note what about the bosses of the water companies proposing to increase bill by 40% to do what they have supposed to have been doing since privatisation in the eighties, that is comply with the environmental and public health laws!
The water companies should not have been paying any shareholder dividends or directors bonuses until after they had achieved network that doesn't leak, they was no pollution of natural water ways or raw sewage being dumped in the sea , all dividends and bonuses should be stopped until the water companies are delivering what they are supposed to.
Of course the obvious answer is too announce renationalisation of all the water companies then the market will go short on them thus reducing the share price enabling the government buy back at a fair price , once back in public ownership all the revenue raised can go back into running the mesylate, the same should be done with every other industry that was privatised, it really is the only way to provide fit for purpose public services!
https://www.sharesmagazine.co.uk/news/market/1687948001995710400/update-nationalisation-plans-being-drawn-up-for-thames-water-collapse
https://www.energylivenews.com/2023/06/28/water-bills-set-to-soar-brits-face-up-to-40-increase/
I’m surprised we haven’t gotten a mention from the brokers/analysts this morning.