The latest Investing Matters Podcast episode featuring Jeremy Skillington, CEO of Poolbeg Pharma has just been released. Listen here.
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Definitely Rest of the World 1 Russia nil
Great news in my view- Putin would have not let him back off “prosecution free” if he was not totally concerned. I’ve no idea whether this Wagner group and what would have followed would have been worse than Putin, but on the face of it, don’t have to worry. Putin has completely lost face (“treason” only yesterday and today “no prosecution”). This surely will impact morale in the country and political cohesion. My view is that these recent events are good not bad, and weaken Russia’s fight and good for Ukraine. Yevgeny Prigozhin said he didn’t want to shed Russian blood which does makes sense- but Putin to back off so dramatically showed weakness. What does all this mean for gold and cey- no idea. I would have thought my markets would like Putin being weaker, but inflation etc remains the main play in town (for this second lol!)
That would be B2Gold and Barrick - one has since abandoned all talk of Egypt exploration
B2Gold's AGM report is 91 pages - not a word about Egypt...
Jun 12, 2023
https://www.b2gold.com/_resources/FINAL%20Circular.pdf
but B2Gold has decided to diversify into Canada (for the first time) and will spend $675 million US to build a mine. That's on top of the $1.2 billion they spent last year to acquire the Canadian deposit from Sabina.
NB
When B2 originally won the concession in Egypt I was excited to have a secondary way to invest in Egypt's gold scene. Today, I have no confidence in the EMRA's ability to attract new investment. On the contrary, 2 and half years have passed and the EMRA refuses to finalize exploitation terms. It's like the EMRA wants foreign investment to fail.
Thanks CEY mmm All ££ in , Another good div . paid out on friday £££.
Hope everyone is happy with their Div Payment ;-))
Yet another "Jolly" to enable group hugging and patting one another's backs!!
So what did this achieve as far as we retail shareholder's are concerned?
I don't disagree when compared to Martin Horgan & Ross Gerrard, but that said for these guys already on very nice little earners with expenses!,buying at these piffling levels doesn't show any real commitment when compared to the likes of some retail investors on here.
After over decade of broken promises, missed targets and underhand deception about the true state of Sukari I remain very suspicious of recent changes such as changing to a PR company with little experience in Egypt and track record of making a worse service or company or service appear a bearable alternative, not to mention being possibly a case of the "Old pals act" is this all part of the plan to make it easier to string us along?
Fair comments Cowichan,
One can't help but be suspicious of the lateness, possibly even unwillingness to update on Doropo.
I asked an independent and experienced mining analyst to look at the information the company has released so far and the analyst concluded that on the information available Doropo is mediocre , or "Hardley a dripping roast!".
That said the analyst did feel the information released so far in many respects it was vague and lacking any real substance, would have been good to see a detailed mining plan, but far too many companies never provide one because its not in their interests if they want to reel in the investors!
So it seems we are really still being kept in the dark, why?
Mining deal-making declines, but Beaty and others see opportunities
June 23, 2023 | 10:40 am
They say share prices are reasonable or low for their assets while commodity prices have been high
Companies on his radar include Endeavour Mining in Côte d’Ivoire, Burkina Faso and Senegal; Omai Gold in Guyana and Centamin in Egypt.
“Centamin, they were ballsy enough to go into that country and now I see that Barrick Gold is going in,” he said. “That’s what I’m looking at, companies with potential that can grow, then they will be a tidbit for some of the intermediates or the majors.”
article continues here:
https://www.mining.com/mining-deal-making-declines-but-beaty-and-others-see-opportunities/
Bottom Line: the gold deposits not already held by the majors are on sale
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Given the above, it's reasonable to defend one's rationale for holding Centamin. It's even reasonable to get annoyed at those posting negativity on a forum dedicated to investing in a company.
However, nobody who posts only good, positive vibes here is going to compensate you as a Centamin investor if you continue to hold while the share price drops further & further.
Therefore, why not consider all aspects of a company and not just the positive? That is unless the pro-invest crowd is willing to compensate those they've lulled into a state of security when it turns out Centamin might just as easily:
1) lower or cease dividends
2) have less than anticipated growth (the Doropo project is anything but a sure bet)
3) lose money if gold drops to nearer AISC levels
The stock price at £2 then the news broke about the waste mountain causing the price to drop by 1/4 to £1.50 then James Rutherford bought his first lot of 100k no matter the price continued to decline and he then bought a second 100k at £1.20 and once again when the stock hit lower he bought another 50k
When you consider that he bought the shares in the same fashion as you and I would, through his broker with no bonus scheme involved I think his support demonstrates exactly how the chairman of a company should behave in a time of crisis and uncertainty.
I think his support was strong enough and well received as they happened in a time of crisis and uncertainty in the stock, when posters with unfamiliar names were posting crap like “Holding off — 60p soon.
Yes compared to Ross Gerard and Martin Horgan’s recent purchases. How do you think James showed excellent leadership and at exactly the right time.
-Mar-21 23-Mar-21 Buy James Rutherford 103.85 GBX 50,000 250,000
08-Dec-20 07-Dec-20 Buy James Rutherford 120.10 GBX 100,000 200,000
06-Oct-20 05-Oct-20 Buy James Rutherford 151.68 GBX 100,000 100,000
Hi Razor's
As far I can see from the directors buys list Jim has only bought 150,000, no great shakes really considering his position!
We should have Trevor Stanley Schultz as chairperson,not only has bought considerably more shares but he has a greater understanding of actual mining!
Then we have Josef who has sold over 30 million in six tranches or so usually just before some unforeseen circumstances decimated the share price!
Mrtibbles Centamin’s chairman, our Jim Rutherford put his hand in his pocket several times during the stocks trip from £2.00 down to 80p
I found his indulgence very reassuring at the time.
It’s much more supportive for senior management to display ‘skin in the game’ in times of uncertainty than when holders are just disappointed at a slow recovery, like what we all are in the middle of right now.
5,000 of those buys went into my ISA. Averaged down to 95.x on all the holdings. 60% in so far.
Yep plus the Ukraine war pushing up energy and food staples, shutting and opening economies multiple times at a whim causing massive supply chain issues pushing up prices. And of course brexit. I do recall the word “transitory” being used a lot on the rise, but alas now I hear far more “sticky”…
If Mr Rutherford were a meal to be described in gastronomic terms then "Bland" comes to mind!
The two old friends scrutinise the FDIC’s rapidly swelling list of “Problem Banks” that are on the brink of bankruptcy, discussing the deepening American banking crisis which has seen 4 too-big-too-fail institutions collapsing in a 6-week period.
https://www.youtube.com/watch?v=xa_Zwl9l3sw
With mainly Berenberg employees
https://www.linkedin.com/posts/berenberg-conference-and-events-952398215_yesterday-we-hosted-the-annual-berenberg-activity-7077918193209499648-NMnK?
posted 9h ago
Yesterday, we hosted the annual Berenberg Thematic Mining Afternoon and Summer Drinks Reception at the Marylebone Hotel. The afternoon consisted of two panels; 'The Energy Transition Theme: Assessing Where We Are in The Journey' and 'Funding The Next Generation Of Mines To Drive The Energy Transition', followed by a drinks reception in the courtyard.
Thank you to our excellent panelists and to everyone who joined the event.
First panel: Paul Gait (Anglo American), James Whiteside (Wood Mackenzie), James Rutherford (Centamin PLC)
Second panel: Marc Bishop Lafleche (Ecora Resources PLC), George Cheveley (Ninety One), Menno Sanderse (Rio Tinto)
------------------------------->>>>
but also reps from Centamin's 7th largest shareholder Ninety One
https://ninetyone.com/en/united-kingdom
THU., JUNE 22, 2023 MARKETBEAT
OLD Mission Capital LLC bought a new stake in shares of Centamin plc (LON:CEY - Get Rating) during the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund bought 31,143 shares of the mining company's stock, valued at approximately $579,000. OLD Mission Capital LLC owned approximately 6.23% of Centamin at the end of the most recent quarter.
https://www.oldmissioncapital.com/who-we-are/
https://www.marketbeat.com/instant-alerts/lon-cey-sec-filing-2023-06-22/
------------------------------->>>>
Not sure if the % owned is factual/accurate - as a "a privately-held firm" are the disclosure rules for Centamin different? But if true it would put their ownership stake equal with Blackrock - thus 2nd or 3rd largest ownership - yet not included on the following disclosure page
https://www.centamin.com/investors/shares-dividends/shareholder-information/
ps don't shoot the messenger - just reposting what's on the www for all to search
Vol. Sold 832,379
Sold Value £761.82k
Vol. Bought 2,190,038
Bought Value £2.00m
Sudan’s brutal military dictators have opened the floodgates for Russian mercenaries, providing them carte Blanche to plunder Sudan's precious gold.
What do they gain?
Sudan’s dictators get weapons—weapons that fuel a civil war where hundreds of innocent civilians are losing their lives and millions are made homeless.
The Russian government sells the blood-soaked gold and uses the money to avoid sanctions as it murders Ukrainians.
But hear this: Together, we can choke the life out of this bloody gold trade.
Front companies tucked away in the United Arab Emirates are cashing in on Sudan's gold, carrying out these transactions under a veil of secrecy.
US President Biden and EU Commission President Von Der Leyen wield the power to end this blood gold trade. They can cast the UAE into the glaring international spotlight, forcing and end to this trade. But they won't take a stand against their fossil-fuel rich allies in the UAE unless we make them feel the heat of our movement’s worldwide pressure.
https://shorturl.ac/7ajbs
The Bank of England has printed £895 BILLION of new money since 2009, most of it in 2020. You cannot swamp an economy in almost a trillion quid's worth of mickey mouse cash and not expect inflation to tick up a bit.
That’s a great name for it Tony- not heard the phrase but 100% agree with what you are saying. I was playing golf earlier and we talking about the brexit debate on question time last night- I said I thought inflation remains sticky as it’s flipping high and many people are just whacking up the prices a bit as people are expecting a rise- it’s disgraceful but alas a consequence of rapid inflation rise. People are running out of money and this will bring it down, so then prices will fall- this is why I don’t follow and haven’t followed, the bail out of equities some people bang on about.
Steve have you heard about all the greedflation by SP500 companies. They have been pumping up prices all over the place especially staple foods, pepsi cola, consumable durables and the like. Companies have been bragging about it in financial reports and then doing share buy backs with some of the money.