Roundtable Discussion; The Future of Mineral Sands. Watch the video here.
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Steve, thoroughly agree SP is and has been dragged up as with pretty much all gold miners by the upward trend of the gold price which I would hope still has legs, given the state of world economies and fragility of pretty much all currencies.
Like you I am holding because I see no reason why under Horgan's leadership and strong team of guys on the ground that Cey shouldn't blossom.
We have taken a great deal of hurt in getting back to basics and I hope that the hurt will stop once Sukari is structured both above and underground and can move forward from strong foundations.
We want to see more ounces mined at a lower cost. The Rns does seem good news and maybe a few director buys (it's been a while since we had any of those and I think we were in the 130's then?). BUT, along with the solar, it looks like things are getting better.
Oops Dasut- our posts crossed lol- I agree with your post having just read it and to be clear my disagreement was with Dave and Badgernator's posts- (in a nice way :-))
Don't agree- pretty much all miners have risen recently along with the major indices and gold price caused by topping and dropping of inflation- this SP has risen due to the same reasons as the rest.
Sometimes RNS doesn't get the rise you think immediately for a number of reasons- one here could be is that it is a prediction and not yet a fact- for sure, once they become fact in ensuing RNS results, the rise will for sure change- of course, not saying we won't get further rises today etc. I'm holding for the reasons I have been banging on about for months- this RNS helps and doesn't hinder that direction
Will the good news do much for the SP? I doubt it but, it is however definitely good news. The proof will be in the production numbers and therefore the efficiencies in extraction.
We need to keep getting good news such as excellent ounces for the 4th qtr. supported by a strong set of numbers and positive timeline in the Doropo PFS.
We definitely need to see an end of the Capital contract and get back to a straightforward mine.
None of the good news will count for much unless the numbers stack up at the year end.
I’m with Dave, the sp isn’t moving today because we are obviously the last to get this news. I’ve sold this morning as well.
Sadly market seems pretty uninterested
It will shake out those nervous investors which bodes well.
Good news and it explains the rise over the last week. Unfortunately lost trust here now and will need to sell-up.
Should make for a great day for Centamins share price.
Major European stocks traded mostly unchanged
premarket with two major Eurozone economies, France and Spain, set to unveil their latest inflation data on Tuesday. The new preliminary data for the third quarter Eurozone gross domestic product is set to be released today, with analysts expecting it to match the expectations provided in the prior reports.
The traders keep holding a close watch on the second day of the G20 Summit in Indonesia, with the Ukrainian crisis and its effects on the ongoing economic turmoil in focus.
FTSE 100 and the DAX remained unchanged at 8:08 am CET. The CAC 40 concurrently gained 0.36%. The euro was sold for 0.18% more against the dollar at 08:10 am CET, while the pound traded 0.37% higher at the same time.
Baha Breaking News (BBN) / MX
Happy Tuesday y’al
Martin Horgan ya legend!
Finally , cey should jump
Lol Mr Bond
What ,another good news story.
What a pleasant change.
HIGHLIGHTS
Sukari underground expansion drives further production growth
Initial evaluation based on the current resource model exceeds the necessary return threshold to be advanced to the next phase of engineering.
Increasing underground ore mining rates to 1.5Mtpa, a 31% increase to current life of mine average.
Low capital intensity with an estimated US$25-35 million additional capital expenditure.
Increased gold production driven by higher-grade underground tonnes displacing lower-grade open pit and stockpile mill feed.
Safety, cost and productivity benefits with the use of underground portals from the base of the open pit.
Short project delivery time, targeting steady state for full year 2025.
Next step is to fully engineer and schedule the expansion in H1 2023.The Company has completed an independent option study carried out by Entech, the mining consultants specialising in resource geology, mining engineering, geotechnical and ventilation services based out of Perth, Australia, and supported by site management. The study included extensive scenario modelling assessing cut-off grade analysis; optimal ore mining rates ranging from 1Mtpa to 2Mtpa; geotechnical risk analysis; orebody geometry; mining methods; existing infrastructure and fleet capacity requirements.
Using the current cut-off grade of 2.2 grams per tonne of gold, the study recommended increasing ore mining rates to 1.5Mtpa as the optimal expansion-cost-risk trade off, with no material change to mining method. The expansion is facilitated through the use of portals into the open pit which will significantly reduce haulage distances and improve productivity. This will allow the trucking fleet requirement to remain reasonably consistent even as mining continues to depth, and from a safety perspective it provides an additional means of egress.
The capital investment is estimated to be between US$25-35 million and will primarily be spent on ventilation upgrades, underground development, additional fleet items (two trucks, one development drill rig and a loader) and potential increases to the paste-fill plant capacity.
As part of the study, a base case mining and development schedule was produced for the expanded 1.5Mtpa mining rate utilising the 2021 underground resource model. The next step is to deliver a fully engineered mining schedule by mid-2023, incorporating the upcoming 2022 Sukari mineral resource estimate, scheduled for publication in December 2022. Given lead times for equipment delivery and infrastructure implementation, it is estimated that underground mining rates will gradually ramp up throughout 2024 and reach the increased steady state for 2025.
Centamin plc
("Centamin" or "the Company")
LSE: CEY / TSX: CEE
CENTAMIN CONFIRMS POTENTIAL TO EXPAND SUKARI UNDERGROUND
Centamin is pleased to announce the potential to expand the Sukari Gold Mine ('Sukari') underground mine to 1.5 million tonnes per annum ('Mtpa') of total ore mined, as supported by the independent option study. This is at the upper end of the previously indicated range and represents a 31% increase in ore mining rates from the current life of mine average of 1.1Mtpa. Total material movement (ore + waste) for the expanded underground would be approximately 2Mtpa.
MARTIN HORGAN, CEO, COMMENTED: 'Expansion of the Sukari underground mining capacity is a significant step towards delivering on our commitment to consistently produce 500,000 ounces per annum from the Sukari Gold Mine. The ability to expand the underground is a result of our transformed approach to mineral resource management which delivered a doubling of the underground reserve in 2021, coupled with the productivity and cost benefits that are being realised following the transition to owner mining. The expansion option that we are taking forward to the next phase of mine planning offers both low capital intensity and a lower level of execution risk.'
For those wishing to have another look at the fiat system ...
The financial enigma resolved: A debt laden-money system
The Money Myth Exploded, written in 1936, is one of Louis Even's first articles and it remains, to this day, a favorite to explain how money is created. It is available in several languages: English, French, Spanish, Italian, German, Polish and Portuguese. For those that struggle with the understanding of the system, you can go to
https://www.michaeljournal.org/articles/social-credit/item/the-money-myth-exploded
Chapter 1. Shipwreck survivors
An explosion had blown their ship apart. Each one held on to the first bit of wreckage that came to hand. And when it was over, there were five left, five huddled on a raft which the waves carried along aimlessly. As for the other victims of the disaster, there was no sign of them.
For hours, long hours, their eyes searched the horizon. Would a passing ship see them? Would their make-shift raft find its way to some friendly shore?
Suddenly a cry rang out: “Land! Look! Over there, in the direction the waves are taking us!”
And as the shoreline draws nearer, faces brighten up. There are five of them:
Frank, the big and energetic carpenter; it was he who had first cried “Land!”
Paul, a farmer, whom you can see front and left in the picture, kneeling with one hand on the ground, the other gripping the mast of the raft.
Jim, an animal breeder, is the one wearing striped pants, kneeling and gazing in the direction of land.
Harry, a plant specialist, a little plump, is sitting on a trunk salvaged from the wreck.
Tom, a geologist, is the big guy who stands in the back with his hand on the carpenter's shoulder.
There are about another 19 short chapters, very simple writing. Probably 15 -20 minutes read
On the other side
https://famguardian.org/Publications/InThisAgeOfPlenty/plenty.htm
The system we have is flawed, opaque, and favors a small minority
Enjoy!
the gnome ...
For those interested in the role of gold in decarbonisation, please read on.
Gold and climate change: Decarbonising investment portfolios
Key findings
• The findings indicate that holding gold can contribute to
portfolio alignment with climate targets and a Net Zero
scenario. The benefits of gold allocations on a global
multi-asset portfolio (of equities and corporate bonds)
include:
– Reducing the portfolio’s overall carbon footprint
– Increasing portfolio alignment to climate
decarbonisation – Net Zero – pathways
– Reducing the vulnerability of the portfolio to climate
transition risks and shocks, such as the introduction
of a carbon tax
• A range of measures were used to quantify these
impacts, showing a consistent trend.
• We also found that these positive climate impacts
were achieved without adversely affecting the riskreturn profile of the portfolio. In fact, there were strong
indications that an allocation to gold would improve the
performance and risk profile of the portfolio, in addition
to its climate transition benefits.
• While the latter finding needs to be qualified, given
the limited (five-year) time frame of the back-testing
and gold’s relative outperformance during this period,
longer-term testing found that the performance and risk
profile impacts of gold allocations on the portfolio were
similarly favourable, although to a lesser extent.
https://www.sprott.com/media/4496/wgc-gold-and-climate-change-decarbonising-investment-portfolios.pdf
Any comments?
cheers
the gnome
Ha Ha, Goldnome.
A sense of humor ,it is clear.
A company ,with their '' Invest advice'', have only one way to end up.
Seriously without investor support.
Or are there suffucient to continue. That would not surprise.
Below is an excerpt from a Senegal newspaper regarding Endeavour's latest results. Instead of celebrating a foreign investment success story, harsh criticism against the company. If anything, these complaints must be addressed to the government for setting royalties/tax at an unpalatable level. But alas, what foreign investor would take the risk to build a costly mine in a undesirable setting with uncompetitive ROE metrics?
------------------------------------>>>
Questioned about these performances of the company with the billions of dividends distributed to shareholders, the coordinator of the Civil Forum Birahime Seck "I think it is indecent, inadmissible that such amounts are shared between shareholders, at a time when the populations of the mining areas are sinking into precariousness, without water or electricity. This shows sufficiency that the communities, like those of Saraya, are left behind, that they are the least of the worries of these multinationals who like to boast of the crumbs injected into the communes. This is unacceptable.''
According to the coordinator of the Civil Forum, we must be very careful about the abyssal gap between these ostentatious demonstrations of the companies and the precariousness in which the populations impacted by these exploitations live. “This glaring manifestation of social injustice, says Mr. Seck, could disrupt social peace. People in mining areas deserve respect and consideration. Why should shareholders continue to reap such large revenues and leave people with crumbs? This shareholder bulimia is a challenge to the constitutional principle that "natural resources belong to the people".
more:
https://www.enqueteplus.com/content/distribution-dividendes-endeavour-plus-de-300-milliards-f-cfa-aux-actionnaires-entre-2021et
(Endeavour bought this Senegal mine thru its acquisition of Teranga in 2020/2021)
Is this the Marshall Wace you refer to?
https://www.mwam.com/about-us/
Some interesting action in the markets and the "market makers and influencers". Elon Musk is hinting he may have believed his own image one too many times, and his Twitter investment maybe a bit more than he can manage, LOL. Perhaps he is mortal? It might be his "management style" is not as all conquering as what he thinks it is. Love the BBC documentary on him...a hootin tootin $ootin man.
Looks like there might be more investment money looking for a more reputable home (GOLD!), as the crypto world splutters again. Investors began pulling funds from Singapore-based Crypto.com on Monday, questions on the exchange’s handling of a $US400 million ($600 million) transfer, in a sign that the dramatic collapse of FTX.com last week is sparking contagion among more digital asset exchanges. FTX’s offshore status and its willingness to keep American traders off its Bahamas-based exchange (and why would one not do that) in large part shielded the company from strict U.S. laws that govern trading and how investments can be sold to the public (one wonders when the investors are going to wake up to the shonk moves, and we wont mention legislators).
FTX’s implosion last week and reports that it used customer funds to back an affiliate’s risky venture investments have exposed the company and its founder to potential criminal liability?. Again the darling young things thinking they have some sort of divine powers?
The narratives built up around the special powers and superhuman characteristics of some of the market players by the US propaganda press does get a bit tedious? LOL
And to remind everyone of the workings of the press: Tutankhamun's tomb is not inscribed with a curse on those who disturb it. This was a media invention of 20th-century tabloid journalists.
However the Egyptians did have a healthy respect for gold going back a few Millenia, and this continues to this day. "Gold is a good investment at a time when the world is concerned about inflation", Egyptian billionaire Naguib Sawiris recently told CNBC, and this is where his money seems to go. The ancient empire of Egypt, made gold the first official medium of exchange for international trade in about 1500 BC. OLD HABITS DIE HARD?
Sawirus recently created a $1.4b fund to invest in gold abd battery metals. La Mancha’s gold mining assets include a 19.1% stake in Endeavour Mining (TSX, LON: EDV), 33.4% in Golden Star (NYSE, TSX: GSS), and a 35.1% interest in Altus Strategies and another investment in Elemental Royalties [now merged into Elemental Altus Royalties Corp. (ELE on TSX.V)]
happy reading of the press, but please have a few buckets of salt at your side.
go gold!
the gnome.
Ha! Eat my Shorts, er, shorts.
Lol
Marshall Wace have lowered their short posittion.
I could smell the singe from their tail. ;-)
Shanta Gold just tweeted.
https://twitter.com/shanta_gold/status/1592087806800986114?s=61&t=gHuRLLXk9tc3RC_UPrU_JA
Shanta are off by 11.5% on the news today’s announcement.
On the subject of M&A, calendar wise since Endeavour bid for Centamin on December 4th so if there’s a sweet spot for a bit I think we’re in it.