The latest Investing Matters Podcast episode featuring Jeremy Skillington, CEO of Poolbeg Pharma has just been released. Listen here.
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Thank you Bobby,
Looking forward to hearing some more detail on how this is proposed to work.
Not to worried about the POG, we all know the reasons why the POG is being held back, the house will let it rise when its ready and in any case Basel 3 is due for full implementation in 2023.
Martin Horgan has been on schedule with most things so far, although why worry about Doropo , from the information available the grades aren't anything spectacular anyway, so possibly better not to rush things, personally I cant really see much point in spending the money on Doropo , it might be lots of expenditure for little return ,or worse?
After past experience I really cant get excited about West African projects.
Concentrate on Egypt, get the Sukarii ATM working properly, getting linked up to the main power grid is logistically retentively straight forward and is going to have the support of EMRA because AiSC will fall meaning their profit share will rise and the Egyptian government will also be selling Centamin the electrify at off peak times when there would be a surplus on the national grid, so win win!
From Proactive this morning.
https://youtu.be/7UIK6RO30f8
Cheers Razors!
To return the compliment one of yours made me cheer yesterday!
The only thing you can do wrong with Centamin in the near future is not have your line in the water.
Hi Sotolo, yes I think your fears about the gp may be warranted but if it does go that way there's not a lot the management can do about it. That said, production is heading up, should be c120,000oz in Q3, and the AISC is starting to come down albeit from historic highs. All this money pumped into the business is not a dead loss, it is significantly improving production and efficiency which will help to limit costs in the medium term?
I enjoyed the positivity and am of the same opinion as your August 2nd post.
“ I'm convinced he wants to grow this company into a beast…”
Cheers!
SotoIo thought you reduced your holding here to go into Hoc and THS?? I seem to remember you using you Centamin Divi to buy those? Also didnt you buy some more here in the low 90's around March/ April. I may be confusing you with someone like MaryBri on that score.
Im hoping gold will hold these levels if not actually start climbing. But with talk of 13% inflation, surely we must be due a rise.
Watching this board for a good few years, I notice that predictions of gold, share prices etc, rising / falling are only right about half of the time.
Gold to hit $3000 some were saying earlier in the year. Yourself , pre wall fiasco, predicting £3 a share! ( i wish you were right on that one) ------Quite Irate Tiger predicting 60p a share.
Prof, the impediment is not just potentially falling gold but rising prices, we are sadly no longer a low cost producer, despite solar. Double the ounces at a quarter of the margin or less doesn’t really help. So I just hope costs begin to turn down as we have become a high cost producer with them up over 50% obviating $500 rise of gold.
The company is on the up and as we always expected it would be, also as Horgan got the bad news out of the way first like any good incoming chief executive and also always promised a recovery to above 500,000 taxes after a couple of years. The fly in the old meant remains the price of gold, if you remember I bought more CEY at 77p a couple of weeks ago and when gold hit 1680 as I suggested it would recover to 1800 before falling again and further. Most hopefully I am wrong in the second half of this expectation, but if I am right sadly more ounces at much lower margin would lead to even lower profit and share price. So is this just a fortnight when we can feel cheery or the real thing? Obviously it is better to be in a recovering and hood mine with falling gold than one like Hoc. Why I keep holding, now over 600k so most ever.
No prob - yes absolutely, there seems to be a real sense of a gathering momentum within the business. Let's hope the good news keeps on coming
3Bear,
Thanks for getting back to me. If the discussion was just before the hour mark then I got diverted onto a phone call so obviously missed it. Will listen to the recording.
Even with a 6 month delay that would still be great news.
Thanks again,
Prof
The UBS analyst challenged slide 6 as "fairly optimistic" due to estimated construction period for Doropo to full production in 12 months. Horgan immediately concedes there is "probably a six month shift on slide six effectively" (around 53'20 on the presentation) but then goes on to say they can begin construction of basic infrastructure at Doropo before completion of the DFS, something he managed successfully at Toro Gold to speed construction.
"That’s….. uncrossing trade" Cheers Jandialbi, always wondered what UT stood for. I always thought it was a big order being worked.
THanks Goldnome ,very intersting ,the Geology.
Reminds me of CEYs start of drilling all those years ago.
There were photos of core samples to make anyones mouth water.
Ands of course you Razors for your dogged consistancy.
Much appreciated.
Link to presentation that I just mentioned:
https://www.centamin.com/media/2853/cey-1h22-results_presentation_20220804_final.pdf
Morning 3Bear,
Thanks for confirming that is also how you saw it. Yes I agree that there was a real feel of 'progress on all fronts'.
I was particularly excited by slide 6 of the presentation which, if I read it correctly seemed to show a return to c500k oz per year as early as FY 2024 through Sukari, a rise to c700k oz by 2025, through Doropo and a peaking at 750k oz by 2028. The notes on that slide seem to suggest that the Sukari uplift is from underground improvement of both mining rates (1.5Mtpa to 1.875) and a 15% in reserve grade to 4.1 g/t.
Again I would be grateful to know if others understood this in the same way because if I am right in what this says then I would have expected more to have been made of it in the presentation by CEY as well as more focus to have been on it in the analysts' questions. Clearly if the intent is to get Doropo producing within 3 years then you can see why there is a need for major investment and why therefore MH is talking about CEY's capital structures.
Best wishes,
Prof
Major European stocks saw slight gains in the last premarket session of the week as investors digested economic data and corporate earnings released over the past days. While the session ahead will also be filled with economic data, the previous day was marked by the Bank of England's warning the United Kingdom will likely enter a year-long recession by the end of this year.
Meanwhile, concerns over the global monkeypox outbreak expanded in the United States, as the Biden administration confirmed yesterday it plans to declare a public health emergency to curb the spreading.
The FTSE 100 gained 0.15% at 7:18 am CET, while the DAX rose 0.09%, and the CAC 40 increased by 0.08%.
Baha Breaking News (BBN) / ND
*No currency market data?
Have a good weekend y’al
Certainly some very exciting numbers in the mine exploration, and even some fo the extensional exploration around Sukari are not shabby,
Diagrams which show the scale are mandatory in under-graduate geology courses...the very difficult to see the scale in the diagrams they have in the exploration update, which is not good enough for a professional company.
Gripes aside, the thicknesses and grades are very exciting, and I think this will continue to surprise on the upside in the future,
Perhaps a long bow to draw, but there are some potential simialrities with Fosterville...the worlds highest grade underground gold mine...Mining at Fosterville has been focussed underground since 2008, with the Phoenix and
Harrier systems being the main focus of exploration and development. Mined grade from both
orebodies in the years between 2009 and 2014 achieved an average of 4.7g/t Au with
production consisting of sulphide ore from surface to an approximately 800m depth below
ground.
Fosterville Gold Mine celebrated production of its one millionth ounce of gold based firmly
within this history of refractory sulphide gold mining. Compared with other Victorian gold
mines, the disseminated nature of the sulphide gold allows for a deposit that exhibits low
estimation variance combined with systems and processes established to accurately
delineate the controlling structures. The systems in place had been established and worked
for the majority of the 1 million produced ounces.
In late 2014 diamond drilling intercepts into the Lower Phoenix system started showing
coarse visible gold hosted within quartz carbonate veins. Fosterville had several historic drill
intercepts showing visible gold. However, the occurrences were found to be localised and
were not reproducible with follow up drilling, so the initial intercept was received with some
reservations as to the significance. Drill holes continued to target the Lower Phoenix mineral
resource corridor with results continuingto reveal the presence of a coarse gold orebody, growing in magnitude with each subsequent intercept.
By the end of 2016, Fosterville Gold Mine’s Mineral Reserves increased from December 31, 2015 by 66% to 643,000 ounces of gold, with Mineral Reserve grade 9.2 g/t Au from 7.3 g/t Au (Fuller et al, 2017). These increases firmly secures Fosterville’s position as one of the highest grade gold mines in the world and is on the back of sustained
world class drill intercepts including 1,429 g/t Au over 15.15m (Estimated True Width "ETW" )
They will be mining at Sukari and surrounds for many decades to come remains my guess. Q?: Will they have a Fosterville equivalent emerge at depth???
https://smedg.org.au/wp-content/uploads/2020/07/papers-2017-pdf/3_orogenic-deposits/1_Fosterville%20Gold%20Mine_DFoulds.pdf
best
the gnome
Hi Prof, I wasn't able to listen live to the presentation but have just listened carefully to it and yes of course you are spot on (I expect this from a professor). So connection to the grid would be equivalent to another solar farm in terms of savings on diesel 40-45million bucks a year for solar+grid combined and (relatively) quick and easy to do. Just shows you what an awesome project (on time and on budget) the solar farm is - offering equivalent power to the national grid - and almost for free once built. What was so exciting about this presentation for me was the progress they are making on all fronts. Really very encouraging.
“Some huge after hours trades showing up, including a massive 1,575,800 shares buy. “
That’s….. uncrossing trade .
Some huge after hours trades showing up, including a massive 1,575,800 shares buy.
Ok I'll do, Freddie...
Let's hope we can ride this wave of momentum and the SP gets in to mid 90's next week, from there anything can happen...
The shackles are off!
It feels like a corner has been turned here - solid update, decent progress, positives in the future, chart looking less appalling. It's a hold for me.