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At present Egypt's economy seems to be going from bad to even worse which is a great pity for the ordinary people!
It's hardly surprising that Cowichan and other long term shareholders who quite rightly expected that they were being told the truth should after the crack in the pit wall and the narrowly avoided collapse forced the confession by the BOD and the management that they had condoned and been complicit bad mining practice whilst deceiving the shareholders on guidance that some long term shareholders should no longer have the same trust or confidence in Centamin.
Quite likely if Centamin Investor Relations had answered the questions put to them, or at least offered a reason why they couldn't hen trust in the company would be much improved, sadly that hasn't been the case!
It seems a great pity that some have to resort to "ad hominem" attacks against those that have that least taken the trouble to do some research and then question the company via the Investor Relations department .
Cowchain was pro CEY before the wall collapse, look back at his/her posts, then vehemently anti CEY on his/her posts after this. He/she lost a packet, and his/her narcissistic anger flipped over.
A bit of dollar consolidation today in advance of tomorrow's inflation data perhaps
Cowichan-Pangloss - so they should have ignored a pit wall in danger of collapse and bought some other mine somewhere else - seriously? Horgan and his team have done a fantastic job turning the Sukari mine in reality into what Pardey and crew were pretending it was.
So not much growth no, but SGM is fundamentally sound in a way it simply wasn't in years past.
You mean went up to $2181
Big drop on Gold ($179)!!!!!
To be clear I am referring to Mr Cow-Tibble-chan not forgetting Covgas from 2005.
I forgot.
Never argue with stupid people because they will drag you down to their level and then beat you with experience--------Mark Twain
Major European stock markets fell on the premarket trade on Monday in anticipation of the fresh German and United States inflation data that will be published during the week. The United Kingdom will reveal its GDP, industrial production, and trade balance report on Wednesday.
The DAX declined 0.29%. The CAC 40 fell 0.28%. The FTSE 100 was down by 0.31%. The Euro Stoxx fell 0.42%.
The euro rose 0.06% against the dollar, selling at 1.09426 at 7:58 am CET. The pound sterling was flat compared to the greenback, changing hands to 1.25846.
Baha Breaking News (BBN) / DD
Happy Monday y’al
Gold currently $179.60
Banks Federation head urges caution as hot money flows into Egypt after flotation, rate hike
Ahram Online , Sunday 10 Mar 2024
The pound lost nearly 60 percent of its value recording approximately EGP 49.4, from its previous value of around EGP 30.9, against the US dollar.
In recent years, Egypt has faced economic shocks caused by the sudden exodus of hot money, which is short-term, high-interest-rate investment certificates.
https://english.ahram.org.eg/NewsContentP/3/519171/Business/Banks-Federation-head-urges-caution-as-hot-money-f.aspx
Horgan's interview was made a few days prior to Egypt's latest currency devaluation. He spoke of the stability of Egypt's economy, as compared to some West African countries. Fair enough. But shareholders deserve some genuine stability - actually safe jurisdictions like Australia, Canada & the USA - for diversification that was touted over a decade ago. Horgan said he's still open to consider M&A opportunities, but only within the general UK region's time zone. What a flipping loser - obviously Horgan's beauty sleep overrides his responsibility as Centamin's CEO. It's been 4 years of zero growth at high expense. If the 100's of millions wasted on expedited contractor pit clearing was instead spent on an already producing M&A shareholders would be far far better off. Time to dump Horgan & his inept management.
No one here wants to hear from you mrbond/mizolgit ++ other user names no doubt
it is against LSE rules to have multiple accounts pretending to be different people
and liking your own posts to boost your self-esteem , anything you say is a lie , liar pants
No letter how high the GOP is, if Martin Holgan does not pay investors a decent devi, nobody trust what he said
Doropo 03 Apr 2023
In response to your first email around the purpose of the update.
Earlier in the year we had committed to updating the market on the Doropo pre-feasibility study ("PFS"), the announcement was following through on that with an update of the various workstreams and their various stages of completion.
The update also enabled us to communicate the following:
Firstly, that we had identified an opportunity to make significant capital and operating cost savings within the processing circuit.
Secondly that in pursuing this opportunity publication of the PFS was being deferred until we had completed the necessary test work to evaluate the cost saving opportunity, to ensure we published the most comprehensive PFS based on available data.
Finally, the update was also necessary to communicate the updated Mineral Resource Estimate (“MRE”), which demonstrated a significant improvement in grade from the preliminary economic assessment ("PEA")
As mentioned in the recent full year results, we look forward to publishing the results of the completed PFS in June this year.
In response to the second
The grades in the MRE update are correct. The data was prepared by and under the supervision of the Group Qualified Persons, Howard Bills, Group Exploration Manager, Craig Barker, Group Mineral Resource Manager, and Mike Millad, the independent Qualified Person from Cube Consulting Pty Ltd. All are geoscientists who fulfil the requirements of being a "Qualified Person(s)" under the CIM Definition Standards.
In the June 2021, we published the PEA MRE and in November 2022 we published an update. Historically the Inferred Resource grade was at 1.13g/t, and this was updated to 1.14g/t. Previously the Mineral Resources were unconstrained (at any gold price, which is not unusual for an early stage study). When we published the November 2023 update, the Mineral Resources were constrained within US$2,000/oz open pit shells to outline the scale of the Mineral Resource that has the potential to become economically viable to extract at our reserve evaluation gold price of US1450/oz. This is a more rigorous approach involving the application of the Reasonable Prospects for Eventual Economic Extraction ("RPEEE") criterion reflected in most current reporting codes. The June 2021 PEA outlines that the Doropo project is a series of individual resource deposits rather than one singular deposit like Sukari, with deposit grades ranging from ~1.0g/t to 1.7g/t, depending on the way the pit optimisation were run it will have generated open pit shells from those deposits (albeit using updated drilling data from the PFS). The grade dispersion will vary with the geology and the drilling information/density. As such, portions of those pits will be at lower grades and in the Inferred Resource category.
9 Mar 2024
The gold price is hitting all-time highs, but there is still scant interest in junior miners, noted JuniorMinerJunky's David Erfle.
On Wednesday Erfle recorded the inaugural show Digging Deep, hosted by Kitco correspondent Paul Harris at PDAC in Toronto.
PDAC is mining largest annual get together. Over 23,000 delegates attended last year's show.
Erfle noted the lack of love junior miners are attracting despite precious metals jumping higher.
https://www.youtube.com/watch?v=JiBnO0yQiGY
I think Cowichan has raised a very valid point, considering Centamin Investor Relations have ignored these questions several times when asked directly in writing I doubt we can expect a straight answer anytime soon though!
Anyone that doesn't believe this should email Centamin themselves!
what does he really tell shareholders, nothing new same old parrot fashion rushed through rhetoric of what may be coming in the future, nothing certain!
martin horgan well rehe****d sales talk that hasn't really changed in three years, this may as well be a presentation on double glazing or vacuum cleaners!
Very profound , :-)
How can you lose anything ,when not even invested !!!
I only saw what I wished to see
and only heard what I wished to hear
those were the mines where I lost money
but it all depends at what $ you bought in
and if you are an insider like Horgan , well
obviously the glass is always going to be half full
shareholders, united to determine fact from fiction works best in forums
divided and opposed to inquiry, who benefits ?
that said the polite & composed responses to the latest interview sure is appreciated
best all
Cowichan are you saying that a mining licence expires mid year or a prospecting licence expires mid year? As I read it Doropo can still apply for a mining licence after which they have a time period to go mining or indeed as you say sell it on if doesn't fit their core business model. Certainly a good question to ask at the next presentation of results.
I hear this as a buoyant and positive affirmation from Martin Horgan that all is well in Doropo with a FID at the end of the year (around 7 min mark). He sounds very upbeat about the project, feasibility finished mid year, then permit applications and renewals preceding FID, what’s not to like!
https://www.youtube.com/watch?v=Sss6zwnkuus
Excellent Martin Horgan video interview.
Thank you Cowichan for bringing this to the attention of this message forum.
*This is a must see for anyone who owns Centamin shares.
AHA! Mr Ray O'Sunshine is back! With the GP pushing 2200 and Cey over the £1 mark I did wonder how gnashing must be your teeths? Hahaha.
Having said that you do raise a bloomin good point. Suddenly Doropo is no longer progressing to FID. That is not good news.
Regarding Doropo in Cote DIvoire (7ish minute mark) Horgan says - 'we're hopeful to be able to make a financial decision by the end of this year.'
Horgan's statement is non-sense. The main deposits' permit is defunct June 2024 ( i.e. no more renewals ) and if it's determined to be 'no go' then what - just walk away like Batie West? Horgan should have been searching for a buyer for Doropo over the last 6 months and sold it by now. Incompetence, arrogance and irrelevance on full display. Shareholders are taken for fools.
Watch for yourself https://www.youtube.com/watch?v=Sss6zwnkuus