Ben Richardson, CEO at SulNOx, confident they can cost-effectively decarbonise commercial shipping. Watch the video here.
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I wonder how goldgnome is doing, the last time he posted was on February 11th when the share price was 91.5p.
I do hope our Aussy friend is okay!
“Gold miner Centamin (CEY) rose 3.9%, or 4p, to 110p after reporting higher gold production last year and kept guidance on track for this year as the price of the precious metal continues to hit fresh highs. It reached a record of $2,222.39 (£1,741) per ounce on the back of the Fed’s interest rate meeting.”
Gold currently $2180.56
https://citywire.com/funds-insider/news/ftse-flies-2-higher-on-fed-rally-and-as-bailey-primes-bank-rate-cut/a2438809
I did say that you were wrong about Capital Drilling
I didn't *** you off or get offensive?
It means production will be lower than expected. ie, less than 25% of annual guidance.
Horgan says this is because of maintenance issues in Q1 and the rest of the year will be better. Many on here suspect it's because he somehow grabbed a few thousand Q1 ounces to help him meet the FY23 production guidance of 450,000oz which he met by a very narrow margin indeed (58oz.) (Yep 58. Count 'em)
In simple terms: what does softer quarter mean? - That's a new one on me. - It always worrying when inventive language is used as an alternative to plain speaking.
Tibbs sorry what report are you looking at because what I read and what I heard during the call in they have delivered and delivered bloody well. GP down and SP up seems others are thinking the same. Yes Horgan admits first 3 months slightly behind personally this doesn't surprise me because 4th Qtr 2023 was bound to be a good one given the carry over from 3rd Qtr but no change to year end target.
I am expecting the times to start looking good at end 3rd Qtr when the waste contract ends.
That doesn't have any detrimental effect on the dividend, its the management that decided that!
Promises all very well, its the delivery on them that's lacking!
Dividend is very poor, but the result is promising, hope this was not Horgan made
Inflation in Egypt is running at 35/38%; risk of currency devaluations?¿?
Hi Mr Henderson,
Just had a look at my emails, just as I thought really another divi cut, another softer quarter, what a surprise, just as Rebess suspected more excuses, the Cleopatra hill has always been problematic and likely always will, slightly softer at 25% of the annual target, that a good one, a quarter less !
I wonder just what decade Martin is planning to ever deliver, four years on many millions spent clearing Pardey crap and still its going to take a bit longer but never mind these things take time , like a thousand years at this rate.
Although they are consistent in cutting the divi, spending millions and making excuses that the good times are just a few more quarters on!
This report is pants!, ust excuses or a cover up of problems that will become apparent as the quarters roll by!
Fair enough, but if we arent getting a decent divi and we arent really getting capital growth, even against inflation, whats the point in holding them? Been so many crap years since the high in 2021
Hi m yes definitely more to it so I did ask him the question and he said, lower grade oxides at Cleopatra area and also development work related to the underground reducing tonnes/ounces so a combination of things. Slightly softer than 4th qtr 2024 and slightly lower than 25% of the annual target. Don't find that a surprise unless you know there is something more sinister!
Paul, sorry forgot to add even at 103 you are still in at a profit, so not all bad.
Paul, Thanks for your words and as I have just mentioned I did ask for clarification on the soft start to the year and Horgan did give some detail but this doesn't worry me because the reasoning is basically sound and following plan and helps to pave the way to the full year numbers. The good thing was that he was prepared to answer what was a pretty detailed question.
DASUT,
(1st qtr. will be a softer month due to mill work/maintenance !! )
to hide a lie, a thousand lies are needed.
I am just digesting the FY report and it strikes me that CEY has a busy year ahead!
Waste Strip completion - Mid ‘24
Doropo DFS - Mid ‘24
EDX exploration update - H2 ‘24
Solar field expansion study - H2 ‘24
Grid connection - H2 ‘24 / H1 ‘25
Reads like continuous progress on top of positioning to be a consistent deliverer of oz’s.
I sat through the presentation and to be honest nothing really new but certainly some excellent slides showing the how and why. 1st qtr will be a softer month due to mill work/maintenance but when I asked if this meant tonnes delivered also down Horgan said it will be a combination of factors lower grades as they remove oxides at Cleopatra and also some underground development. So don't expect anything special in April as far as production ounces but didn't touch on how this might be offset by gold sales at increased GP levels.
Worth a look/listen when it is posted on their web site.
Out again for a sweet 6%, I’m happy with that. Thank you gold and Centamin.
Hi Steve. I meant Dasut. He has worked in the business I believe. And he explains things very well. Enjoy your golf.
Not far off that 120 Ken
Thanks Paul- coffee before tee off time lol.
You did very well getting back in.
Good to see the market agreeing with my view of the RNS :-).
Laters.
I am pleased you are happy with the RNS and hope that you will be happier with the Q1 next month. You understand the business and your posts are always interesting to read.
I am not too happy with the dividend being reduced again and I hope the dividend will start to grow pretty quickly. After this one, the next will be September? -----------and it is a long wait after that to see ---and we are not getting any younger!
For me it is fingers crossed that the POG stays high (I'd be happy if it hovered at $2150 for the year) . IF it does, and the other things fall into place for Centamin, then a special dividend as a "Thank you. We appreciate all the crap you have put up with over the years" would be nice.
With a high gold price and lower AISC, they should be able to increase the dividend a bit and still have money to invest.
Did I see in the RNS that production is slightly weighted to H2?
On a slightly different note, I sold some at 99.5 on the 5th of March, hoping to get back in at a couple of pence lower. It didn't happen and I had to pay 103.5 :-( . Oh well.
What a crap dividend. Wont buy anymore.