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The 1pm call was advertised online and guess also sweeps up the interest from the US market
Also, have mentioned on here previously how there has been a definite trend on the daily charts of PoG making some nice progress into and through the US opening bell.
Traders start to latch onto these patterns.
Portfoliopower if I may this wasn’t made clear, that there was going to be a separate cc. I guess one could say that it was but because it is new Martin Horgan could have taken a minute in this morning’s conference call to say that the retail cc would be actioned at 1pm.
Anyway to be honest I’m a bit numb probably because of the weak share price reaction to today’s market report.
Here’s a link to the recorded retail cc from 1pm.
https://presentations.investormeetcompany.com/investor-meet-company/CENTAMIN-PLC-Q4-2022-Investor-Presentation?bmid=0f5298f497a4
Bit sluggish breaking 115 but volume is back.
Looking positive now post the earnings call
If I'm calculating right, a 15% fall-off in production between Q3 and Q4 was a surprise, especially as forecast was weighted to H2 . - That was a bit of a shocker. - Again forecast for 23 weighted towards back-end of year. - I wondered what happened?
https://twitter.com/centaminplc/status/1616040871924752384?s=61&t=5xbRHTVmIZAte04FRzXkqw
The only way is UP Now!
Still optimistic for a daily retrace here.
No idea about the drop, but those X2 £4m trades should take it back up the chart.
Looks as if the SP spiked to around 116 a little while ago - and straight down again - what was that all about?
It is all about gold assumptions made by Berenberg. I suspect they are using $1900 gold price average for the entire year with a peak at some point at $2100 and top end of AISC at $1375 an ounce on 460,000 ounces will hit the Berenberg ceiling price. At 112p the model assumes that ceiling is hit with gold t $1800 gold price average for the year and all other factors stay the same.
Centamin remains unhedged. - That answers one outstanding question.
Berenberg raises Centamin price target to 141 (123) pence - 'buy'
3Bear Can’t sell old vehicles clause is wired up!
Look on the bright the government paid £600. Into my bank account this morning as part of its energy support scheme.
Most of the time I am hoping that Berenberg gets it wrong. But today's 141 forecast suits me fine.....:)
So it would appear the Capital Drilling contract is good value after all. To do it in house Cey would have had to buy trucks and excavators with an 8 year lifespan for a 3-4 year job. Then with nothing for the machines to do they would have been handed to EMRA because the terms of the concession prevent Centamin from selling them on.
Initially negative. - Let's see what unfolds. - Quick skim read - 2022, on the face of it, cash-reserves have melted away, have had to borrow for the first time in yonks- Negative cash-flow for the year. Paying dividends out of borrowed money not a good look, so I suspect dividends will/may be seriously impacted due to this. -.Agree with Sotolo - Much depends on the gold-price going forward now.- Essential for good Q1 2023 results to steady the ship. Poor Q1 results and the snake will put in an appearance I feel.
oufc the last question of the webcast was about why they contracted out the waste stripping and how long it has to go - I think he said 18 months to 2 years?
Other similar companies also down today
It is all about the reserves and resources. With the arrival of the solar farm, has it made reserves more economic to mine out. Can that $2,000 an ounce price tag be reduced to $1800. If it can then increase in resources can go into increasing the enterprise value.
I will go back into Centamin if it retreats during February. Although the 92% I sold is now in a savings account, I have cash in reserve in the portfolio to earn a new investment result. I just need them to get rid of that one red flag.
Do we know when the accelerated waste stripping will be completed?
Stitching live
Yep the reality is kicking in, Centamin is looking good but is going to remain a high-cost producer for a while yet.
On mid-guidance for 2023 they're expecting to spend another $600m+ getting the gold out of the ground this year.
So output should be back to 2020 this year, around 465k ounces, but costs are $300 higher an ounce. Gold averaged $1766 in 2020 so to put it all together and if gold were to average $2066 this year we would be back to 2020 profitability. If it averages the same as the last 4 years a fairly consistent $1766-$1794, then profits about 40% lower than 2020, explains the share price of around 120 till/if gold rises further (or falls) imho
AISC :-(.
No uplift at the open but maybe later when the company presents.