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Interesting chat
https://www.youtube.com/watch?v=Q2vqnpXWM0Y
The best is the magic wont be able to happen, recesson for Europe, UK.
History’s Biggest Credit Bubble Bursting at the Seams Feat. Bill Holter
https://www.youtube.com/watch?v=PDT9GhkDJds
https://www.omnicalculator.com/finance/inflation
Gold Forum Americas 2022
Martin Horgan, CEO, Centamin plc Live In-Person
Broadmoor Hall A&B, September 20, 2022 at 4:00 PM (MDT)
Andrew Breichmanas*, Managing Director, Equity Research, Stifel GMP
Questions can be submitted to Centamin plc from Sep 18, 2022 - Sep 21, 2022.
https://www.goldforumamericas.com/program-agenda-gold-forum-americas/
https://stifelinstitutional.com/meet/andrew-breichmanas/ *
andrew.breichmanas@stifel.com 44-20-3465-1110
Hi Tornadotony,
Thanks for your outline in response to the Sukari waste clearing tender process — a detailed reply from Centamin on any of those points would suit me.
Entertaining ,makes one think.
But so much hangs on the truth, for everyone
Open mind is important.
Cowichan,
Asking who failed the tender is unlikely to get an answer. Those applying would not likely their ability in not getting a tender being advertised as dozens of experts in writing tenders could bother them.
What is appropriate is to have the published specification of the tender document. This would not be an in commercial confidence. The professionalism of that document and any supporting papers they gave to the bidders is important. The second question is who was on the commissioning panel and did it include those with relevant expertise who supported the tender process advising the panel. The final question was the marking and decision making criteria. Hopefully at least 3 or 4 people gave their advice and views on each tender and graded them. The final question is knowing the difference in grades between a first place and second place tender. Sometimes the winning tender is genuinely 99% ,but the one in second place could be 65% as they failed on something major like on significant safety concerns and others following them may have misread parts of the tender and scored far lower by leaving gaps or were trying to add in costs by changing the specification. Hope that helps. Tony
Theres a saying .
Quality will out.
This applies to investments.
The state of the Economies of most countries is dire.
The west is in a critical state ,no matter what we are fed through the media.
Then talk of trying to control the oil market.
Be interesting to see where this ends.
I hope it is not a diasaster.
FOR IMMEDIATE RELEASE
2 September 2022
Capital Limited is pleased to announce the appointment of Mr Peter Stokes as Chief Executive Officer with effect from 03 October 2022.
Mr Stokes will also join the Board of Capital as an Executive Director with Jamie Boyton remaining as Executive Chairman.
These changes represent further steps in reshaping and strengthening the Company’s leadership team while also adhering to the Company’s commitment to the highest levels of corporate governance. **
Jamie Boyton, currently Executive Chairman, will oversee a handover period
with Mr Stokes over the ensuing six month period. *
https://www.capdrill.com/media/investors/Announcements/CAPD-2022-08-CEO-Announcement_20220902_Website_FINAL.pdf
------------------------------>>>>
So, neither Centamin nor Capital have made any reply to the questions I raised over the last 12 months in regards to:
1) was there a competitive bid process carried out prior to the awarding of the waste clearing contract at Sukari, and if so who were the other unsuccessful bidders
2) was a 'finders fee' paid in return for the contract being awarded
now, it seems that a key individual critical to the contract being negotiated is leaving* in six months
I did contact every board member at Capital & Centamin with these questions among other stakeholders in both companies. Did any of them too have unanswered questions/misgivings as to lucrative side deals ?
It is strangely specific wording used in Capital's press release:
"while also adhering to the Company’s commitment to the highest levels of corporate governance."
I'd say this change is therefore a good thing but perhaps this guarantees shareholders will never be given the facts - which is unfortunate for all.
Was unable to get above 30min, 1hr and 5 hr down channels, but came close to the top and pushed back into the close. All depends what happens over the weekend and Monday on gold. USA market is closed on Monday.
Yup costs spread amongst more ounces will lower aisc, but I hazard that inflation will raise it more.
Precious metals traded higher on Friday in a bid to reverse the recent downward trend. The geopolitical situation remains tense with the G7 agreeing to impose a price cap on Russian oil, pointing to potential market instability ahead. In the United States, nonfarm payroll employment rose by 315,000 in August, largely in line with expectations, indicating that the US labor market does not seem to be getting hotter.
Gold rose 1.19% to sell for $1,717.86 per ounce at 10:54 am ET. Silver gained 2.67%, going for $18.28 per ounce at the same time. Platinum was up by 1.77%, selling for $846.38 per ounce at 10:56 am ET, while palladium improved by 0.59% to go for $2,022.30 per ounce.
Baha Breaking News (BBN) / DJ
Hi Sotolo, hoping for lower AISC per oz sold compared to Q2 due to higher production.
If guidance on track my fag packet says total Q3 AISC should be around 160m v 150.7m in Q2
lower aisc? with increased oil, labour costs etc won’t this obviate the much needed aisc reductions. I shall be happy if aisc just doesn’t rise in which case we should be able survive with $1500 gold and maybe make £20m with $1600 gold if doesn’t go on capex.
....also increased Q3 production and lower AISC should give us another boost on Oct 20
Yes, unfortunately any one who has not gone with the party line has committed suicide and there have been many-very sad.
Cowichan , sorry for the delay in further replying, you do an amazing job, I dont know you get your energy/insight but CEY do have to have some accountability and it is good to keep up the PR and pressure. I would also like to thank other key people on this BB who bring knowledge and experience.
I cant say I bring much apart from occaisional humour
Sotolo,
We could see a low in gold over the next six to eight weeks. After that, my outlook remains positive. I am holding core positions in Centamin. I am pleased the solar farm is now coming on line. I look forward to the link up on the Egyptian grid at some point.
European stock exchanges were higher ahead of the last trading session of the week, as traders awaited the July data report on Eurozone's producer prices, set for release before noon local time. German trade balance figures for the same month will be published ahead of the open.
The DAX increased by 1.28%, London's FTSE 100 rose by 0.52% and the CAC 40 advanced by 1.05% at 7:02 am CET.
The euro was 0.24% higher against the dollar at 7:17 am CET, trading at 0.99692.
The British pound was flat compared to the American currency, going for 1.15502 at the same time.
Baha Breaking News (BBN) / MS
Happy Friday y’al
Enjoy your weekend!
Aren't we making a killing as we approach dollar/pound parity?
8th Russian energy executive to die suddenly this year
https://www.cnbc.com/2022/09/01/lukoil-chairman-ravil-maganov-is-the-8th-russian-energy-executive-to-die-suddenly-this-year.html
Poor chaps. Nowhere to hide from the Kremlin.
Ye Razor as said at 9am going ex div today accounts for about 2.1p of today’s fall. We are now very near the cliff edge, if gold breaks $1675 the multi year bull will be through says TD securities today and they say it is not if but when and likely very soon. As said before, Cey may halve again or worse, but as long as Horgan doesn’t start spending money and stops the unaffordable dividend we should sail through to the uplands later this decade or next…Egypt willing.
https://www.google.co.uk/search?q=centamin+ex+dividend+date&ie=UTF-8&oe=UTF-8&hl=en-gb&client=safari
Rio Tinto Group agreed to buy out Turquoise Hill Resources Ltd. in a deal valued at about US$3.3 billion, securing more control of a giant copper mine in Mongolia.
The deal comes two weeks after Montreal-based Turquoise Hill rebuffed a lower offer from the mining giant and ends almost six months of takeover talks.
The final deal represented a 67 per cent premium on Turquoise Hill’s share price before Rio’s first offer on March 11
https://www.bnnbloomberg.ca/rio-tinto-to-buy-balance-of-turquoise-hill-for-us-3-3b-1.1813320
----------------------------------->>>>
mining executives looking to buy and not grow their production organically more often than not buy high and sell low - i.e. copper was near all time highs in March when Rio first approached Turquoise Hill Resources , copper/gold has since dropped and yet they ponied up more $$ to finalize the acquisition
Yes Doc ,almost forgotten about them.
Now time for them to save for their Christmas vacation to the Carribean.
Fuel for their luxury yachts ihas got more expensive.
A well-earned breakfast for our #EDX sample prep team. Working from our lab in Marsa Alam they carefully prepare all the soil samples collected from our Eastern Desert Exploration blocks for analysis. More about our EDX project: https://loom.ly/lK4Ropg
#goldexploration #egypt
https://twitter.com/CentaminPlc/status/1565263338753376257
The big swinging dicks are back from holiday and engineering fear