Roundtable Discussion; The Future of Mineral Sands. Watch the video here.
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...based on what?
Does anyone know when is the next dividend due to be announced? I have found sources saying it is 28 July -- that seems very close to the last payment.
Thank you.
This should bottom around 60p level. Be patient guys and wait for that to come
Razor should be up a bit more before downward trend resumes. Question is whether to take advantage and get out or hang on to the gold recovery after interest rates top maybe next year, which I probably will imho
Major European stock markets traded mostly lower in the premarket session of Monday amid the new earnings season and updates on the global economic outlook and the war in Ukraine.
Earlier, Ryanair Holdings reported that its net loss fell to €170 millions in the first quarter of 2022, while Royal Philips N.V published downbeat data. The company's sales went down 7% to €4.2 billion in Q2 due to "supply chain shortages and COVID lockdowns in China." In other news, European Central Bank Governing Council member and Austrian Central Bank Governor Robert Holzmann stated that the bank's future rate hikes would depend on the state of the economy in September.
The DAX lost 0.74% at 8:02 am CET, while the CAC 40 fell 0.69%, and the FTSE 100 was flat. The euro was also flat against the dollar at 7:57 am CET, selling for $1.01983. In comparison, the pound lost 0.27% to go for $1.19732 at the same time.
Baha Breaking News (BBN) / JG
Happy Monday y’al
I’m looking forward to seeing if a new upward trend shows signs of forming this week.
Diabetes unable to absorbe sugar ie glucose.
But so much produceds in Pharoes times from Sukari Mountain ,Hamash and Wadi al Aqui, by artesan miners .
120 ancient mine sites in those areas.
Google translate always refers to Sukari as diabetes, exposure has had a wearing affect on my health but thankfully nothing so extreme.
Good to see that its living up to its name Sukari ( sugar mountain)
I think it is interesting they are getting high grade quartz veins (more of?) than they were probably expecting? If these quartz veins are subvertical there is a high chance they did not know much about them if the resource drilling was subvertical.
potentially could be very nice
the gnome
Hi Cowichan
I have always thought that Horgan’s strategy was to do far more waste movement up front than was needed.
The advantage to Horgan is that when things improve they improve dramatically as he has already moved waste that would otherwise have been moved as part of the ore mining process thus meaning his incentives will kick in in a big way.
The people who wear the cost of this are of course is shareholders as usual both in terms of poor results & accordingly poor dividends & of course depressed share price which means we can’t access our capital without taking a nasty haircut.
I am still quite confident that the quality of the Sukari deposit will shine through & we will receive our rewards but I won’t be placing much credit for this on Horgan as I feel he has done little but attempt to feather his own nest at the expense of shareholders thus the reason for keeping us in the dark on key operational issues.
My big concern is that the short term managed suppression of our share price will give rise to an opportunistic predator will mount a takeover bid which is getting harder to defend due to shareholder disappointment & dwindling cash reserves, Horgan wouldn’t care about this as he would no doubt parachute out well taken care of but we would end up getting significantly less than what I consider to be fair value for our assets. I know this is a concern of yours as well.
That is my rant for the day & it is time for dinner, good luck to all.
Tibbs Not sure I agree with the comment regarding Sukari having relatively low mining costs in their open pit. With a strip ratio over 10 to 1 their costs are currently much too high and this is where I would like to understand in more detail the cost per ounce of Capital's waste removal. This will then hopefully provide us with something to look forward to at the end of the contract, a more realistic strip ratio and reduced cost per tonne/ounce. Or will it and is this high strip ratio more realistic given the age of the open pit?
Unfortunately I was laid low with covid so wasn't able to participate in the phone in maybe next time especially as next quarter will hopefully provide some important updates.
Hello Mark99999,
Oh dear, I seem to have pushed the right buttons again!
Had a bad week have we, come on here to spread a little venom around have we,never mind if it makes you feel better, get it all out of the system that's that thing!
Pop in again anytime to let off steam!
Cheers for now!
Your old mate Tibbs!
Calm down Whopa , unless I misunderstand you seem to be insinuating that crooked markets and the exploitation of other ordinary people who are denied equal access to information or even opportunity is in some way acceptable?
You might be astonished at the number of investors and even really rich people who don't share your opinion.
Possibly you are frustrated/ depressed that Boris will be known as the biggest liar ever to be a British PM , his oven ready Brexit is now going to cost another £10billion which could instead have been spent on reducing NHS waiting lists and social care .
UK firms cant get staff because under Tory legislation the terms and conditions of employment have been systematically worsened to a state where the employee is in many cases exploited by unscrupulous and uncaring management who give no commitment to their staff ,but expect them to be at the companies beck and call when required!
Those foreigners who were villainized and so despised by some of the extreme Brexiteers are no longer there to be exploited by unscrupulous employers and now the British Brexiteers are seeing just how much they were dependant upon those foreigners who were supposedly pinching their jobs!
So it' most likely we can expect a winter of discontent,
Great Britain is down the lavatory and the Tories can't blame anyone but their own party this time!
Agree with you entirely Cowichan, the more recent update presentations don't give enough information to substantiate the claims that things are improving!
After all that has happened they still expect shareholders to take the company claims at face value, not good enough!!
An awesome day to remember with our #exploration family, greatful time to swim and get alot of relaxation and it is a coincidence when you meet some friends of exploration team of #Lotus.
https://www.linkedin.com/posts/abdelhamid-rabie-1220801a3_exploration-lotus-activity-6956647251817431040-YInt?
and
some members of the blasting team at Sukari
https://www.linkedin.com/posts/mohamed-risha-0b8445229_activity-6956644195423916033-goGX?
--------------------->>>
Good to see coworkers who get along at work and in their free time
tibbles the lefty liberal, has to put his filth on here again! he has only one goal, and its nothing to do with gold!
in this week’s Live from the Vault, Andrew Maguire sits down with the director of ‘The Paradigm of Money’ documentary, Pete Antico, to talk about the unprecedented transfer of wealth between the shrinking Middle-Class and the financial elite.
The macroeconomic scholar exposes Wall Street’s corruption, drawing attention to the trillion-dollar government bailouts profiting ‘Too Big to Fail’ institutions while regular Americans struggle to face inflation.
Timestamps
00:00 Start
01:20 Introducing Peter Antico. ‘The Paradigm of Money’ teaser.
04:00 What inspired Pete to create his movie? America’s financial condition
10:30 Big bank’s bailouts! JP Morgan racing to exit the silver market.
22:22 Naked Short. Sanctioned stealing!
26:10 Educating the wider audience about money
https://www.lse.co.uk/ShareChat.asp?ShareTicker=CEY&share=Centamin-PLC
When the UK left the EU, it still had some financial commitments to the bloc, which were estimated to come to around £32.9 billion. On Thursday, a statement from the government admitted that the figure is now £42.5 billion – an increase of almost £10 billion.
The announcement was made very quietly, after the start of parliament’s recess, cunningly avoiding coming under fire from opposition MPs – or even Tory bankbenchers, such as Theresa May.
https://www.thepoke.co.uk/2022/07/22/brexit-divorce-bill-another-10-billion/
https://www.bbc.co.uk/news/uk-politics-62263972
"This Conservative government's terrible deal, backed by [Conservative leadership contenders] Liz Truss and Rishi Sunak, is costing British taxpayers billions of pounds," Liberal Democrat foreign affairs spokesperson Layla Moran said.
"This is the price of years of Conservative chaos and neglect."
Yes an upbeat presentation, unfortunately not enough of the right information!
In reality its only going to be possible determine whether the Open Pit is really worthwhile when the company produces a long term plan for it that is made public.
Centamin need to make available their long term plan and studies in which they motivate resources/reserves, there really is no good reason they shouldn't do this.
Hi Cowichan,
I remain suspicious that we shareholders aren't being told as much as we should and that the analysts involved in these presentation sfor whatever reasons never seem to ask enough of the right questions!
I won't go into details at this stage, but after Wednesdays Q2 2022 update I am somewhat concerned because it seems ever more apparent why the high grading grading in the open pit carried on for so long, or until the crack in the open pit wall brought about some forced admissions!!
The board in Jersey claimed they were unaware that the waste ore wasn't being cleared in the open pit , so admitted complacency or laziness on their part, even so a failure by them to carry out their responsibilities of acting in the best interest of share holders, which is bad enough, but hard to believe, although better to admit to that failure than to admit being complicit in or condoning such bad mining practice at Sukari to bump up the guidances, at least until the crack appeared in the gloss!
The BOD must have been aware since 2015 of the grade problems in the open pit, and again in 2018, Andrew Pardey was certainly aware since 2015, he was challenged by an investor on the 2018 Q & A quarterly update where he lied, claiming he was unaware of the Kees Dekker reports, he also tried to play down the importance of the contributions from the underground mine and the pole axed underground LHDR
in the light of what has been disclosed in this latest update possibly all that money and time spent on the open pit clearance would have been better spent on developing the under ground operations and possibly potential new reserves elsewhere?
With the current gold price much lower than the average price of US$1863/oz achieved in Q2, they will need to do much better production wise in Q3 to improve on Q2.
Noted -More open pit material mined, but with a drop in ore pushing the strip ratio up.
Being 11 is very high for open pit operations at a grade of around 1 g/t Au.
So difficult to make money as things stand!
On the plus side there is stockpiled material in both periods and at relatively good grades.
-Substantially more underground ore mined at a better grade which likely means all the free cash flow comes from underground mining.
I am told reporting such as “cash cost” and AISC per is pretty pointless as these can be manipulated and are to a large extent out of control of management with grade having a major role as has book entries to re-allocate cost to capex.
Far more preferable is unit cost for:
- Underground Mining
- Open Pit Mining, preferably distinguishing between ore and waste, and before any reallocation to Capex as “deferred stripping"
- Re handling Cost
- Processing Cost
- G&A - annually
Technical reports on reserves usually give such costs, but financial and/or MDA reporting does not.
Centamin has relatively very low open pit mining cost compared to their peers,which is good!
https://twitter.com/centaminplc/status/1550754889927720961?s=21&t=eD-SUA0mMgbeIFdLuCWFvA
Couldn't agree more Cowichan!
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https://www.newcrest.com/sites/default/files/2022-07/220721_Newcrest%20Jun%202022%20Quarterly%20Report%20-%20Exploration.pdf
<<<<-----
To present quarterly exploration results;
- comprehensive drill data
- in-context diagrams / maps
- explanations of geology encountered
- plan outlines going forward
Centamin actually 'used to' give much better updates similar to Newcrest's prior to Mr Horgan's arrival - especially in West Africa - ultimately it did us long term shareholders no good, but whose fault is that - geopolitical risk? poor ROE? mismanagement of concessions?
Regardless, going forward can we expect more thorough updates, Mr Horgan?
From what I read the latest RNS made no mention of :
- the much touted gravity survey results around Sukari
- Sukari satellite ore deposit progress/timeline
- the Egyptian royalty terms progress (which was supposed to be completed within a year - so now overdue)
- divestiture of Batie West progress (very, very overdue)
- and all the questions raised with Investor Relations re: the Capital waste removal contract particulars
- plus several other outstanding questions
Hey Emilie @ Centamin Investor Relations , why the silence ? A response to shareholders regarding our emails would be appreciated !
Current betting is 75 but also some are 50, depends on which newsfeed you read... there's seem to be more on 75 then slowing the increases until a decline again from Feb2023... Newmont and Barrick not doing so well today but there's a few hours til close.