Roundtable Discussion; The Future of Mineral Sands. Watch the video here.
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The key aspect of the gold assay is not the total amount of gold in the sample, but rather the total amount of extractacble gold. Its the extractable gold you make money from, the total gold can be misleading.
The other v important part is the sample size, especially with nuggety gold.
The delays in the Lab are not suited to the gold industry, and really prohibit true optimisation of various processes.
cheers
the Gnome
For an admirer of Barrick.
Not surprising connard. :-).
Hi Cowichan
Firstly please ignore the trolls on here who are not on the same game plan as the serious investors on this board . Your professional insights as to the mining industry I for one take very seriously albeit lacking the in-depth knowledge you have.
I do however have a good memory and the diesel subsidy was an integral part of the Centamin start up. As this was a contractual obligation (now subject to litigation I believe) I am at a loss as to why the IMF has not raised this in respect of its ongoing funding of the Egyptian industrial future.
Regrds
Bob
https://www.centamin.com/media/2873/cey_sukari-site-visit_presentation_011122_final.pdf
It would be nice to know which companies/people are coming to visit Sukari
For what it's worth Barrick's CEO Bristow times his yearly MENA visit (Ma'aden/Jabal Sayid)
around now. Plus he'll be in London Nov 3
"Barrick Gold will release its Q3 2022 results on Thursday, November 3, 2022. President and CEO Mark Bristow will host a live presentation of the results that day in London, UK, at 11:00 EDT / 15:00 GMT, with an interactive webinar linked to a conference call."
Yes, I said the same thing last year - so it's weak, yawn. There, I said it for you connards
Weak.
https://youtu.be/sYtwtLnm-k8
how-does-it-work @ 10:55
how-does-it-compare to fire assay (FA) & benefits @ 16:40
plug & play usability - no technical ability required to operate @ 28:00
accuracy @ 37:20
cost comparison $10 per FA sample vs $18 per Chrysos sample
machines are leased not purchased so all maintenace is handled by Chrysos
Summary: environmentally friendlier than FA (no reagents i.e. lead in waste), no destruction (pulverizing) of drill core samples, utilizes much larger sample size therefore better representative of real-world in the ground resource, no variability assaying course gold samples unlike FA (think Sukari Bonanza zone) , assay in seconds per sample saving weeks/months of waiting for results
Bottom Line: the longer miners/explorers wait to transition to the Chrysos system the more time, opportunity (& ultimately money) they will have wasted
https://chrysoscorp.com/
You obvously think the company and CEO stupid.
Oct.29, 2022
"He added that as part of the initiative, the state will provide investors with energy — gas or electricity — at reduced prices."
------------------------------>>>>
This (as we LTH's will remember ) was part of Centamin's original production agreement at Sukari - subsidized energy in the form of diesel.
I don't think it's fair for Sisi to make the same promise today to lure investors when Centamin hasn't been compensated for its energy subsidy being revoked.
Perhaps our CEO can negotiate a subsidized rate from Egypt's electrical grid to make up for the cancelled diesel subsidy and thus extra costs to Centamin that occurred over the last 6 years?
https://www.arabnews.com/node/2190316/business-economy
Its clear -
Wait a few more months.
then guess.
Andrew Schectman - Live From The Vault Ep:97
https://youtu.be/UgPxdaFKAhQ
Chart gap is 92.74 to 94.06. The gap is significant. At some point Centamin back fills the chart gap and has a near 100% record for doing so when not induced by an RNS. I therefore do not mind Centamin sliding down for awhile so that we can all add in lots of buy shares and await the gap to be back filled. I have written the gap event in the title. Tony
Yep- we are but passengers... in the mining space, broker recommendations seldom make an SP difference (some get it right, some wrong like us, it can either go up or down), unlike in other stocks, when recommendations generally hold more sway. Unless you're on the inside, or an institutional investor, all we can do is follow our own data points and markers. The prob with mining, is that it's massive risk, but of course, equal potential reward.
Pure Gold had three analysts covering their company in 2022 and their advice was as follows:
1 buy
1 outperform
1 hold
https://www.marketscreener.com/quote/stock/PURE-GOLD-MINING-INC-22072037
On Sept. 12, 2022 Pure Gold's CEO reported record production (for August) and reiterated they were on on track to meet yearly guidance.
https://www.juniorminingnetwork.com/junior-miner-news/press-releases/776-tsx-venture/pgm/127699-puregold-announces-record-gold-production-in-august-reaffirms-q3-2022-guidance.html
Six weeks later the mine is closed...
Oct 24, 2022 4:30 PM
Pure Gold suspending operations of Red Lake mine
Company announced it's suspending operations and placing the mine on care and maintenance immediately
https://www.northernontariobusiness.com/industry-news/mining/pure-gold-suspending-operations-of-red-lake-mine-5998535
Bottom Line: analysts miss the mark constantly, look at what's happened to the major US tech companies esp. Meta & Amazon, whom the majority of analysts failed to change their glowing ratings on until after the carnage has happened
But back to the gold space, I will post two more examples of analysts' shortcomings, specifically in analyzing gold M&A deals
Why are they so often wrong, you ask?
Analysts (financial conglomerates) aren't paid to criticize - they are paid to promote. That's why Centamin now has half a dozen on their payroll
https://www.puregoldmining.ca/
Whatever you both think ,is not that important.
It is the anylysts and brains of institutinal investors that , in reality are worth watching, not small investors on BBs.
Cowichan is more like a bee than a mosquito, it may sting occasionally (well once) but provides lovely honey and I am thankful for the info which you can disregard if you want
European stock exchanges were lower in the premarket on Friday with Airbus releasing its third-quarter report and companies such as Volkswagen, Sanofi, Eni and Natwest due to post their latest quarterly results before the start of trading. Furthermore, investors will monitor economic reports, including inflation figures for France, Spain and Germany, as well as Germany's GDP and Eurozone consumer confidence data.
The DAX and London's FTSE 100 were both down 0.57% and the CAC 40 lost 0.43% at 7:06 am CET.
The euro was 0.16% higher against the dollar at 7:14 am CET, trading at 0.99802. The British pound was flat compared to the American currency, going for 1.15642 at the same time.
Baha Breaking News (BBN) / MS
Friday y’al..
Enjoy your weekend.
Thought you had given up.
But no you are still here, to irritate, like a mosquito.
For those of us owning Yamana and/or Gold Fields shares and are uncertain how to vote on their proposed merger — an interview with Van Eck's Joe Foster. His job: portfolio manager and strategist for gold and precious metals strategy at VanEck, oversees the firm's gold investment team responsible for asset allocation, company research and stock selection.
Oct. 27, 2022
The top gold fund manager with the firm that owns the largest amount of shares in South Africa’s Gold Fields Ltd. and Toronto’s Yamana Gold Inc. is denouncing the proposed merger of the two companies as Gold Fields struggles to win shareholder support for the deal.
Joe Foster, portfolio manager with New-York-based Van Eck said in an interview the deal is “poorly structured,” received a “horrible market reaction” and he cannot comprehend the rationale for the multibillion-dollar transaction from the viewpoint of either the acquirer or the target.
Johannesburg-based Gold Fields in May said it intended to acquire Yamana for a 42-per-cent premium to its stock market value in a share swap worth US$6.7-billion. The company said buying Yamana would help address long-term growth challenges in Gold Fields itself.
But Mr. Foster said there had been no indication Gold Fields was facing a growth problem and, in fact, the opposite seemed to be true.
“It really was unexpected, and the market didn’t, and maybe still doesn’t, understand the strategy behind the deal,” he said.
Mr. Foster was also critical of the large premium Gold Fields has offered, and said transactions in which the acquirer pays no premium have proven to perform far better in the long term.
Gold Fields shares lost more than a fifth of their value the day the deal was announced, and have lost about a third in total since then, amid a broader sell-off in the gold mining sector.
Van Eck owns about 5.9 per cent of Gold Fields’ U.S.-listed shares, and has a 10.6-per-cent stake in Yamana. (and 9.71% of Centamin)
Within Van Eck, most of the Gold Fields shares are owned by the firm’s passive funds, which track stock indexes, rather than the active fund Mr. Foster manages. Van Eck’s passive managers are free to make up their own minds when it comes to shareholder votes, but Mr. Foster is the gold industry expert within the firm, and he gives his opinion to the passive managers before any votes.
The concern from Mr. Foster about the merits of the merger is another blow to Gold Fields as it attempts to convince its shareholders to back the deal. Earlier this week, its chief executive, Chris Griffith, said in a Monday media call that while the company was making headway in its marketing efforts, he hoped a few of Gold Fields’ major investors might step up and endorse the deal publicly.
https://www.theglobeandmail.com/business/article-gold-fields-yamana-acquisition-shareholders-reaction/
In anticipation of the Doropo PFS coming out soon I read thru last summer's PEA and it appears the whole estimate ($275 million) was based off the now defunct Batie West project in Burkina Faso. Was that appropriate given Batie's differences? Economics ?
You can search for 'Batie ' references in the Doropo PEA or just look for the ** below : https://www.centamin.com/media/2439/doropo-project-pea-report-2021_01_updates_190921.pdf
The Capital Cost and Operating Cost Estimate for Doropo has been based off the Batie West** Optimization Study which was developed by Lycopodium Minerals Pty Ltd with input from Knight Piésold on various infrastructure. Centamin PLC provided project specific portions of Mining and Owners costs.
The engineering cost estimate and design status for Doropo is preliminary as it is based off Batie West**. However, the basis of design is a Lycopodium derived basis which includes completed facility designs and modified construction and as-built drawings of current and past project facilities.
The capital cost estimate was based off Batie West** and was prepared in accordance with Lycopodium's standard estimating procedures and practices. The basis and methodology are summarised in Table 21.3
Cube Consulting was engaged by Centamin PLC to carry out Mine Engineering Services as part of this PEA effort for the Doropo Gold Project. The work involved open pit optimizations, based on supplied preliminary resource models, with operational costs and geotechnical parameters based on the recent Batie West** Optimization study, which geographically, is located approximately 30 km to the East of Doropo.
The comminution circuit design is also based on Batie West** where OMC modelled and selected all comminution equipment for the circuit.
An airstrip with a runway length of 750 m to accommodate aircraft such as Cessna Caravan which is a Class B1 to BII aircraft. This is based off Centamin’s Batie West** study.
Following a detailed power study for Batie West** by ECG engineering, considering a range of power supply options, the current intent is for an Independent Power Provider to build and operate an LNG generator power station
And there's more similarities, re: water supply, etc. in the PEA above
I ignore the price of price of gold by currency- if it goes up in usd so does cey and vice versa in general of course :-).
Gold price is a bit misleading at the moment, weak in USD but if you look at AUD or GBP chart it is pretty good (especially GBP).
Unfortunately when the gold price goes up in USD it is likely to be in concert with a drop in the USD cross-currency values so the GBP price of CEY won’t benefit in the same magnitude.
Still, it is nice to see the share price edging back up :)
Yes, it does make one wonder what the SP would be if gold was at $1850 with positive momentum.
Workers in Oz being told to tighten their belt, no pay rise for another couple of years (whilst inflation increases). A lot of what is happening now, is very poorly thought through, and is not sustainable. The low gold price will be in that category.
best
the Gnome
Equities in Europe traded lower in the premarket on Thursday just as companies such as TotalEnergies SE and Shell PLC were about to reveal their third-quarter financial results, which in turn came out in the midst of the ongoing energy crisis. Investors were also gearing up for the European Central Bank's (ECB) latest decision concerning its monetary policy.
The DAX traded 0.08% lower at 8:01 am CET. The FTSE 100 declined by 0.15% at 8:02 am CET. At the same time, CAC 40 stood flat.
Both the euro and the pound sterling stood flat against the dollar at 7:58 am CET, selling for $1.00770 and $1.16263, respectively.
Baha Breaking News (BBN) / JR
The prices of precious metals recorded gains on Wednesday, with gold rising by more than 1% and silver by almost 2%. Palladium, on the other hand, registered losses after Apple Inc. reportedly decided to cut the production of its iPhone 14 Pro due to insufficient demand.
The increase in the prices of other metals came after a series of companies, such as Alphabet Inc., Microsoft Corporation, the Coca-Cola Company, and the General Motors Company (GM), posted growth in the third quarter, leading to investors' optimism.
Gold gained 1.06% at 5:35 am ET, 11:35 am CET to sell for $1,670.64 per ounce. At the same time, silver rose by 1.81% to go for $19.70 per ounce. Platinum advanced by 1.96%, selling for $937.57 per ounce. Meanwhile, palladium declined by 0.43% at 5:36 am ET, 11:36 am CET, going for $1,948.81 per share.
Baha Breaking News (BBN) / JR
Is the top and drop finally gaining momentum? Here's hoping :-). The indicators started before, but gaining more momentum now- let's hope traction is gained this time, the dollar seems to concur :-)