George Frangeskides, Chairman at ALBA, explains why the Pilbara Lithium option ‘was too good to miss’. Watch the video here.
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Centamin should have an uplift at the open. Gold recovery held up. Solar plant delivering savings and keeping AISC lower. Guarantees 6% plus improvement plus 5% growth. Gives a price floor around 104p instead of 78p in 2022 in my opinion. Uncertain where the ceiling is but currently 125p.
Looks steady and as expected, including aisc for 2023 now up to 1250-1400. Still as expected is great for Centamin
Looks good, UP we go!!
https://www.lse.co.uk/rns/CEY/quarterly-report-3oi6jypll9r652h.html
Equities in Europe traded mostly lower in the premarket on Thursday ahead of the release of the minutes from the European Central Bank's (ECB) latest meeting on monetary policy and the newest sessions at the World Economic Forum (WEF). Thursday at Davos will be marked by mostly economic topics led by the leaders of the ECB, International Monetary Fund (IMF), and World Trade Organization (WTO).
The DAX traded 0.55% lower at 8:00 am CET. At the same time, the CAC 40 fell by 0.68%. The Euro Stoxx 50 dropped by 0.86%. Meanwhile, the FTSE 100 stood flat
The euro stood flat against the dollar at 8:01 am CET to sell for $1.07908. At that minute, the pound sterling lost 0.09% to the greenback to go for $1.23273.
Baha Breaking News (BBN) / JR
Good luck today y’al
2022 was the first year ever that Sovereign Wealth Funds (SWFs) shrank in value. The scale of the drop is debatable as most SWFs report with significant delays, if at all – but Global SWF estimates the impact totaled US$ 1 trillion. Similarly, Public Pension Funds (PPFs) have reduced their assets by US$ 1.3 trillion, with the subsequent worsening of funding ratios.
https://globalswf.com/reports/2023annual
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Lots of charts and data, some ideas for investing in 2023/trends too
But if Centamin reiterate their 2023 guidance of 450-475k ounces at an AISC of $975 - 1200 maybe I'll get religious.
Sadly I think they led us astray in their forecasting...
Hi Mr Bond,
The mistake was to ever go in there and spend so much money
Conflict in Burkina Faso has forced nearly two million people to flee their homes (
https://www.bbc.co.uk/news/world-africa-64285344
The army in Burkina Faso has called on companies to provide for free lorries and drivers to transport food and other essential items to volatile areas.
Militant groups have been blockading parts of the country and frequently target military convoys delivering supplies.
Last week about 50 women were kidnapped by suspected jihadists while foraging in the north of the country.
An airlift is under way to take food to the area.
Burkina Faso's military leader, Capt Ibrahim Traoré, said the Islamists had entered another phase, focusing their attacks on civilians.
https://www.bbc.co.uk/news/topics/ce1qrvlelrrt/burkina-faso
What's behind the coup, in Burkina as in Mali, Guinea and elsewhere in Africa where such things seem to be endemic, is an under-developed political culture on the citizens' side ; armies and governments that are led by people who do not understand the value of legal-based political frameworks. As a result, corruption is far more reaching than even so-called experts are aware of, and this corruption like a sociological infection, undermines all attempts at nation-building.
https://www.youtube.com/watch?v=TCzvyTSslKk
Of course if Barrick/Bristow ,and others are not interested ,it shows ,as I expected. That Centamin were right to not mine it ,or put more money in.
It was previous management that spent so much ,and as the previous CEO found his niche in a subsidury of Barrick ,that tells a lot.
https://www.kitco.com/news/2023-01-18/Davos-2023-Egypt-sees-high-demand-from-investors-after-currency-drop-minister.html
We shall see if there is high demand tomorrow.
https://twitter.com/centaminplc/status/1615765706506702848?s=46&t=Azc2raNacHOPAWkH6QrJYg
well, they did, fudged it as usual.
DJIA is down $358.37
GLTA,
Dan
Midas ramp - love it.
If the market is efficient all cost increases should already be priced in.
Earnings call tomorrow should hopefully provide details on guidance for 2023 and market should be able to take a read across from this onto the rising PoG as it starts to play out.
I suspect there will be plenty who sliced some after the midas ramp and will be waiting to re deploy once any uncertainties are removed.
So far so good- google it- let's hope the analysts don't fudge intrepatation! Downside on PPI and on Retail Sales.
I have faith ,still after 11 years or more,cant remenmber exactly :-)
Dasut ,I do not want to own Barrick shares either.
I meant , if they wanted Batie ,ok ,offload it to them, then it gives them more camoflage and showing better reserves for them.
What it will cost to mine is another subject.
Good day to you and all.
You may be right 3bear, we have certainly paid and paid again for '"Cherry Picking" years by the previous management.
The originally agreed but then withdrawn and now legally uncontested diesel subsidy worth around $367m would have gone some way to paying for the Sukari clean up.
In my view the decision to "Roll over" on this should have been voted on at an AGM but instead it was ticked away in the 2022 annual report, why?
FY22 results will show increased production and revenues but AISC up at least 20 per cent. As a result profits will be down on last year. As the full extent of the cost of production sinks in, I think the SP may take a hit.
The good news is that Horgan said he would use Q4 22 to set up for a good Q1 23. So we should see strong production numbers in April and if the GP holds up, revenues close to record levels.
As Dasut says: Keep the faith - Centamin is going in the right direction.
MrBond46 I really don't want to own Barrick shares managed by Bristow and his board. They are struggling to keep costs down and have issues at several of their mines so production is also an issue.
I have visited several Barrick mines and their head offices in Toronto and if I had wanted to buy Barrick shares I would have done so already.
Give it time and keep the faith Centamin look as though they are going in the right direction.
Cholly I completely agree with your logic I only wish the market were thinking along the same lines. Keep the faith.
Ideal candidate for Bristow and Barrick ,no doubt.
Batie is ideal for Bristow.
C mon Bristow make an offer.
;-)
Major stock markets in Europe mostly rose in Wednesday's premarket trading as investors continued to focus on the World Economic Forum in Davos with German Chancellor Olaf Scholz and NATO Secretary General among today's speakers. On the data front, the United Kingdom is set to release its latest inflation numbers, while the EU is scheduled to publish a report on construction output.
The Euro Stoxx 50 added 0.20% at 6:59 am CET, the DAX was up 0.22% and the CAC 40 rose 0.19% at the same time, while the FTSE 100 lost 0.07%.
The euro declined 0.11% against the dollar to go for 1.07817 at 7:01 am CET, while the pound gained 0.06% compared to the greenback to sell for 1.22865 at 7:02 am CET.
Baha Breaking News (BBN) / NP
Happy hump y’al
Full Year 2022 Exploration Spend Estimate
page 26
Batie West Project, Burkina Faso $ 3 million License & Admin ( what changed, and when? )
Doropo Project, Cote D'Ivoire $ 7 million PFS & $ 8 million DFS (we didn't even get the PFS completed, let alone the DFS ! )
taken from page 24
2022 Production 430-460k AISC $1275 - 1425
2023 Production 450-475k AISC $975 - 1200
https://www.centamin.com/media/2477/centamin-investor-presentation-jan2022.pdf
------------------------------------>>>>
That was a dreamy AISC estimate for 2023
What did management expect to save money on in 2023 ( even while the waste clearing contract is operating until 2024 ) ?