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The shackles will be off then for sure Mrtibbles.
Be great if I’m right.
EMRA is a very old school, and the new Government should notice that they are doing nothing toward the Metal Mining sector, they achieved zero advancement but losing good miners names, which can be a very enhancement to Egyptian incomes that need it for their economy.
certainly hope so Razors!
Absolutely, the 3km case was always a complete red herring!
The proof of license submitted by CEY at the end of 2012 was for the whole 160km.
This has been acknowledged by the admin court and all of the judges in the supreme court - if this was not so Cey would not have been able to have continued mining, which does as we speak.
There was always lots of noise around what the arguments are about, almost all of them wildly inaccurate, but his being probably the most farcical of them all.
Cey has always and continues to adhere to all of the conditions set in the original rule of law when they were granted the license.
If they have transgressed this they would have been shut down a long time ago, let alone having spent over $1bn on developing Sukari.
Nice idea Dansul, but very little hope of any change there!
Hi Cowichan,
A court case based on the admitted lies and innuendo of a corrupt politician now a convicted felon living in exile stick in limo for a decade !
$20-$25 million of disputed withdrawn diesel subsidy stick in limbo for a decade!
Law 32 , whatever happened to that Oh yes the SCC went away how many years ago to think about it and never came back, they just can't be asked to rectify it, so its stuck in limbo!
Think about it over a decade now and despite so many announcements of proposed changes and speeding things up at mining conferences there is really no will to change things it's mostly just window dressing!
You are right we all know there are currently artisanal miners across Egypt's eastern desert plundering tax/royalty free gold 24/7, but how many local officials are in on it?
Most of these concession winners won't ever be producing gold, just pie in the sky!
Agree with you Cowichan, This Mulla guy should be removed and a new set of staff for EMRA to manage the sector with an open mind for business and investment.
GLTA,
Dan
The exploration update states:
"During May 2022 the final environmental permits were received, enabling the commencement of exploration activity on the Nugrus Block."
So, we all know there are currently artisanal miners across Egypt's eastern desert plundering tax/royalty free gold 24/7
But somehow it's taken nearly a year since Centamin's Nugrus concession was awarded just to get an environmental 'permit' to BEGIN exploration. Think about it. How serious or inept are these Egyptian officials in running the whole damn operation?!
One thing is clear - if the EMRA doesn't get its act together we will continue to see frustratingly slow progress.
I see the Calvary coming in the the production numbers.
If they only meet the company estimate all the analysts that are covering the company have to rejig their recommendations.
It makes for exciting anticipation for July 20th.
Delivery preference: Immediate delivery
Centamin Keeps Outperform Rating at BMO Capital Markets Following Exploration Update
2022-07-07 11:23:27 AM ET (MT Newswires)
11:23 AM EDT, 07/07/2022 (MT Newswires) -- BMO Capital Markets on Thursday reiterated its outperform rating on the shares of Centamin (CEE.TO) with a GBP1.30 price target after the miner offered an update on exploration programs at its properties.
"Impact: Slight Positive. Centamin announced an update on the exploration work currently being undertaken across its portfolio of assets," analyst Raj Ray said in a note. "Results from Sukari underground exploration continue to highlight potential for near-term addition to reserves and resources at better grades, which bodes well for increasing production and margins for the company. The Sukari surface exploration program has also identified potential satellite targets that can help improve operational flexibility. Centamin is targeting completing an updated reserve and resource estimate for Sukari by Q4/22 based on the drilling completed to date."
(MT Newswires covers equity, commodity and economic research from major banks and research firms in North America, Asia and Europe. Research providers may contact us here: https://www.mtnewswires.com/contact-us)
Price: 1.25, Change: +0.06, Percent Change: +5.04
GLTA,
Dan
Dipped off a bit but hold for me - especially after the RNS- needs more time to sink in
80.76
+4.68 (+6.15%)
*Interesting that Bank of American cut a string of miners right across the board but raised their target price for Centamin.
I trust Centamins down days are number.
Great to see the original 160km Sukari concession now being mentioned with some fantastic grades. No longer confined to the 3km by the sounds of things and a huge potential beyond that. The big players are clearly fishing for intel with staff poaching. Lets hope we dont succumb to a silly offer before we realise everything out there. Be nice if we hit some really big bonanza grades in the next couple of quarters.
Mmmmmmm China doing a bit of sabre rattling atm.
Lol DJ- just ignore what you don't want to read
Most likely dj tried the rest but realised that LSE Cey is the best!
yep... but foolish me thought the share related news today was good, so wanted to read about our Channel Island registered, Egypt centred mine. And yet here were are still reading loads of rubbish and opinion on UK politics. All politics is crass and just noise. I suppose one thing about a dictatorship is that you have more stability like in china , cant argue with that over a ballot box or opposing veiws... :) LOL
Thought you said you were gone DJ lol
This board should be re-named 'Tibbles political news and views thread'. He can't help himself, such is the need to be seen as a self appointed moderator. Of course none of his readers could possibly get the same news from elsewhere, it is not as if it is on main stream media anywhere. What a public service you are doing! sad.
Wall Street Breakfast Thu, 7 Jul at 12:36
U.K. Prime Minister Boris Johnson resigns,Sterling regained some lost ground on the reports, with traders pricing in an end to the chaotic situation on Downing Street. On Wednesday, Johnson saw more resignations from his Conservative government in one day than any other prime minister in history, but was defiant and stressed his intention to stay on as leader as of late last night.
Commentary: "The U.K. political soap opera doesn’t matter much for sterling unless it opens a door to easier fiscal policy (sterling-positive) and allows a more constructive approach to trade relations," wrote Kit Juckes, chief FX strategist at Societe Generale.
Johnson has faced increasing pressure to resign after a series of scandals, including "Partygate" and allegations of misleading the public over the appointment of former deputy chief whip Chris Pincher. The momentum to oust Johnson grew with the resignations of Chancellor of the Exchequer Rishi Sunak and Health Secretary Sajid Javid on Tuesday, but quickly escalated into a full scale party mutiny. Nadhim Zahawi, who was appointed as Sunak's successor, even issued a letter this morning saying the prime minister must go following an announcement last night that he and Johnson would detail a plan to combat economic problems in the U.K.
What's next? A Tory leadership content will now ensue, with bookmaker William Hill putting Sunak as the favorite at odds of 4-1. The new prime minister will have to contend with a troubled economy, with persistently high inflation that reached 9.1% in May. A spike in energy costs from the war in Ukraine is plaguing many industries, while the country is still dealing with the full impacts of Brexit more than two years after leaving the European Uniion
Yep Q2 is critical- a good one will cement all that's been said recently
A good Q2 report
Quite so , Thank you to our own Mr Goldgnome for his analysis of the RNS!
Absolutely agree Steve,
As Dasut and others have already said "At last!", a long and somewhat frustrating wait, but that said at least this time the exploration data update seems quite different from those in the past given by Pardey & Co which turned out to be unrealistic and undeliverable!
This time the good news and grade predictions are backed up with credible evidence, it just needs to be delivered on sooner rather than later!