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A very happy bithday Market, have a lovelyday.
Equities in Europe traded lower in the premarket on Friday ahead of the newest preliminary reports on services and manufacturing in Germany, the euro area, and the United Kingdom, as well as the latter country's retail sales. European Central Bank President (ECB) Christine Lagarde and Bank of England (BoE) Governor Andrew Bailey will also give speeches about the current state of the economy.
Earlier, it was revealed that Britain's consumer confidence reached almost a record low in April. Meanwhile, in the field of politics, Ukrainian President Volodymyr Zelensky predicted the war will spread from his country to Russia.
The DAX went down by 1.42% at 7:03 am CET. At the same time, the FTSE 100 declined by 1.29%, and the CAC 40 decreased by 1.75%.
The euro gained 0.16% to the dollar at 7:11 am CET to sell for $1.08512. A minute later, the pound sterling stood flat against the greenback to go for $1.30311.
Baha Breaking the News (BBN) / JR
Happy Friday y’al
Quarts ridge is another pipe dream my friend at the end of the day no expansion has allured as projected to in 2011 and none coming this year----- am sorry to say this is a gravy train for the big boys and loyal investors need to look elsewhere to make money. sad to think this but my old bones are right, 88 tomorrow and still hoping for another flip flop or is dementia
Did you mistake me for your wife again?
They don't share it because they don't have too...they will have a team of lawyers telling them what they need to share...you doing your shee-ra impression on twitter and LinkedIn just makes you look a mug...I imagine they don't even open your messages anymore....you've been holding them to account for years and it's got you a big fat **** all and will continue to get you **** all in the future
I do wish you were in charge Cowichan,at least we would be so much more transparent. Leave out the nastiness for Mr Tibbs and his man on the train,I for one enjoy his posts and so glad I am not the only one suffering owning this share after all we all have the write to air our views regardless of what they are. That is partly what the Ukrainians are fighting for!! G.L.A.
" In 2019 a targeted reverse circulation drill programme was carried out on the V-Shear South prospect, 3km northeast of the Sukari processing plant. At V-Shear South, gold mineralization is hosted by a porphyry unit that has characteristics similar to the Sukari porphyry. Exploration at V-Shear South is at an early stage but the interpretation of gravity inversion modelling* shows linkages to Sukari Hill that extend beyond V-Shear North. The system is open and H1 drilling will target extensions and resource-quality of this mine-style gold mineralization.**
Five holes were drilled at the Quartz Ridge prospect, located 4.5km from the Sukari processing plant to provide material for metallurgical test work. This is a key regional target for potential production development in 2020. Infill resource and grade control drilling, in addition to metallurgical testing is budgeted for completion of a production schedule in H2 2020. *** "
Questions For Centamin Management:
* Why haven't shareholders been allowed to see the gravity inversion modeling data acquired in 2019 ? (No, this is not the same as the seismic survey data, also not shared)
** Why have shareholders not been updated on V-Shear's 2019 RC drill results and apparent 'mine-style gold mineralization porphyry' ?
*** The fact that metallurgical test work, grade control & infill drilling of 'resource' were undertaken indicates the Quartz Ridge project had moved far beyond discovery to readying for production. The plan to extract this 'resource' was in place since 2019 — well prior to Mr Horgan's appointment in April 2020
Imagine - if this plan had been carried out we'd already have higher grade satellite sources of ore feeding the plant - omitting the shortfall in ounces of 2021, 2022 & 2023 and the ridiculously high AISC we are enduring as a result
Obviously somebody was thinking far enough ahead (our old CEO Mr Pardey included?) - forecasting that the open pit wasn't going to perform as in year's prior - and put in place a contingency source of satellite ounces
So why was the above plan not carried out?
To quote a line that keeps replaying in my mind from Mark Bristow's BMO mining conference interview earlier this year "I like investing in projects before the owners realize what they have"
Well Centamin peeps - as shareholders WE are those owners and yes, we don't know what we have - because management has kept us in the dark. It's got to end.
Mr Horgan, please explain given the plan in place from 2019 (thus indicating prior knowledge of the open pit shortfall needing to be supplemented) why are we no further ahead in obtaining satellite feed from Quartz Ridge and V-Shear deposits?
info from page 47 of 2019 Annual Report: https://www.centamin.com/media/1809/cey-2019-annual-report-270520.pdf (published May 27th, 2020)
Mr T------I actually agree with a lot of your political views, I just dont think here is the place to air them. Boris/Farage/ Brexit /Inflation. However (bit political here myself). I will not vote for Labour because I know people who were ripped off by the Pathfinder scheme-------------compulsory purchases of terraced housing in quite a few areas. I hold Prescott in near the same contempt as Mrs T herself!!!!!!!
I am not questioning your integrity at all. Just how much use some of the information is and how accurate. Forgive me for teasing you a little. But I can tell you when the first man will land on the moon :-)
I cannot remember if Siko actually mentioned who said that to him , but I appreciated Siko's input on here and he struck/ strikes me as a decent man.
Regarding posting old information-------you have to remember we are getting old. The attention span of people is so short now. If you watch even a factual program on the telly now, they recap after the adverts. That is how short peoples attention span is..
You strike me as being old enough to remember Spitting Image in the 80s? Do you remember the John Cole puppet talking about calling people a liar in Parliament? He was giving other terms which translated as something like "liar" or "spotty faced liar" .
Dont let things get you down Mr T. It will soon be the Jubilee. Boris will be in his element, with his Chinese made Union jack bowler hat and flag, waving it all about and having sandwiches and a drink. Whatever you might think about him, he likes a party ;-)
Hopefully Mr T, one day in the not too distant future, you and I will be wearing the golden flip flops. "Peace and long life".
If I have to read you say Jersey bod one more time I might have to claw my own eyes out
You're really annoying Mrtibbles and the main reason everytime I try to post here I stop....your man on the train is absolute ****** and has been for the last 10 years I've been watching this board...you know nothing more than anyone else...if you did you'd have been out. The political postings also puts so many off, your constant axe grinding in reply to nearly every message is aweful to read....I'm still holding but off the board...again
For goodness sakes Mr T just stop checking the sp so often you're doing yourself harm. We'll be over the £1 soon enough.
Hi Paul,
Oh I take your point,
You might be surprised to know just the circles that the man on the train moves in and the chap I meet in the pub has always been of the same opinion about EMRA, but the posts by Rebess & Miz reminded me.
Siko is a very decent chap to say the least and you would be very surprised if you knew the identity of the the person who told Siko that the good times were coming because they were certainly in the right place to know, I certainly believed it,but there you go things change.
As to politics well like it or not they are relevant to everything in life and the difficulties the UK is now forced to endure in is because the ill informed,ignorant and inward thinkers chose to believe the lies spouted by Boris and Farage .
I see nothing wrong in posting information on past issues that are still ongoing regarding Centamin in 2014 because new investors need to understand the ongoing long term effects and repercussions that many of these ongoing and unresolved issues still have on Centamin.
I always state that they are a re-post and give the original date of posting,if people can't be bothered to read relevant history about the company they think they are going to make a quick profit out of then they possibly shouldn't be investing in it.
All us long term investors have been let down by people whom we thought had professional integrity but they didn't!
Some of us are frustrated and annoyed at having a lying toerag of a prime minister with cabinet of greedy self serving stinkers with the morals and attitudes of the 18th century running our country whilst Putin carries out Nazi acts of aggression on the innocent decent people of Ukraine which doesn't make any decent person feel any better!
But rest assured there will be no more information offered to me in good faith or even just hearsay from other parties on here , that is the safest option given the circumstances.
There's been a massive effort the last 2 days to bounce gold off of $2000...at 1954 it's been a fair failure, these attacks cost a lot of money.....I expect gold to head back to 2000 over the next week and take it out and then onto a bounce off the all time highs
Can one specify whether the 31m tonnes was total material mined or total material moved. Why is this 37% above Q1 21 22.5 m tonnes when they allege Q1 22 production was planned to be low. How do you get a 37% increase in total material mined with an 11% decrease in gold produced to 93k from 104k Q1 21.
Cowichan I fully appreciate that the Barrick guys are working at Sukari and also appreciate they aren't all Canadian and pretty sure not all of the Canadians are French Canadians. If however there are a few who are then this will be of help when they develop Doropo and ABC because inhouse expertise is better than external hires which takes time to get organised . Filling expatriate jobs in Egypt with nationals will be a priority and pretty much I would suggest a necessity under the employment rules and regulations in Egypt.
Just saying that it provides some flexibility and like you I am not interested in a Barrick takeover far from it as if I had wanted to invest in Barrick I would have done it a long time back I have after all visited many of their mines.
Likewise any other major such as Newmont and I have visited both companies head offices in Toronto and Denver also many other majors they don't interest me as far too corporate for my liking.
Mr T------I was not being sarcastic intentionally. I know you have been here a long time and post often. I dont agree with you posting up political stuff even If I agree with your views. Also putting up stuff from 2014 / 16 etc when it could appear to be new information, can cloud things as well.
I know people cannot be right all the time and often the top share "tipsters " have a less than 50% success rate, which is what you would expect by chance. I think "the man on the train" has a similar success rate? I have previously posted that him, Siko or anybody can only report what they have heard and if the source is dodgy then the information probably is too. I rememer Siko posting that he had been told "Good times are coming. Good times are coming" . I consider Siko to be an honest and honourable man and hope him and his family are well.
Regarding "the man on the train" and "the man in the pub" -----------How well in the know are they if they say these things afterwards? With a little help and research , I could report last weeks lottery numbers, who won the Fa cup in a given year, or a grand national winner. Im sure you will get my point without taking offence.
Probably similar to yourself and others on here, I am hoping tha Martin Horgan sorts things out and that are a few decent sized gold finds at Sukari (in the short term) and other places in the longer term.
Dont worry about putting any disclaimers :-)
Well there you go, a kick in the crotch at the end of the day , Rebess was right this goes from bad to worse every time there is a presentation!
Well there we go, so much for the analysts forecasts and notes of £1.40 targets, etc!
Well my note is Target price -yet to be determined by when we get a BOD who are fit for post and some actual measurable results rather than pie in the sky estimates from analysts who know as much about whats going on at Sukari and other West African projects as the automatic check out at Tesco Express !
Quite so Cowichan,
If you wish let me have the questions you want raised via the usual channel and I will take them up with you know who to see if we can get you some answers.
From the archives circa June 30, 2011
Quartz Ridge
Drilling continued at Quartz Ridge with results confirming continuity of an east-west trending mineralised structure approximately 1.5 km east of the Sukari process plant.
Current intercepts include:
22m 1.11g/t from surface, including
5m 3.90g/t from 17m.
11m 1.08g/t from 58m
5m 2.04g/t from 31m
4m 16.4g/t from 156m
5m 7.03g/t from 42m over a 150m strike length.
A follow up 10,000m RC program to test the strike extent of this zone will commence in the 3rd quarter followed by a resource estimate** which will be included in the overall resource estimate of the project later in the year.
V- Shear
V Shear lays approximately 1km north west of Quartz Ridge and just over a kilometre from the Sukari process facility.
Following initial soil and BLEG sampling programmes 3 RC holes (600m) were drilled during the quarter with the following significant results:
7m 21.4 g/t (from 28m)
16m 3 g/t (from 151m)
The above intercepts as well as the relationship of V Shear to the Quartz Ridge mineralisation are potentially highly significant.
As such a 20,000 m RC program is being planned for this area as well as a soil/rock chip sampling program between the two mineralised zones.
--------------------------->>>>
My Thoughts:
** A resource estimate of Quartz Ridge was never provided shareholders (nor an explanation as to why it wasn't) even though a scholarly paper was written and published by an Egyptian University on Quartz Ridge specifically (outlining several aspects of the other-than-gold geology with mineral grades, too. )
Note the exploration, drilling and assay costs were all borne by Centamin shareholders - yet we are not privy to the summary conclusions, yet.
But, it's only been a decade. I wonder if some gold assay results (and the core sample data) went missing at some point? Some say the reason the security upgrade to the core data computer software (which stores the RELOGGING work of the last 18 months) was made in January was to prevent the same thing from mysteriously occurring again.
Oh - and the underground BONANZA zone we've just been hearing about at Sukari - I never got an answer from management as to just WHEN it was discovered ( or perhaps more correctly — RE-DISCOVERED from old core samples which went 'undisclosed' ) despite emails and queries submitted during the last couple of retail investor events.
Obviously the hunt is now back on for near-plant high-grade zones mineralized from surface while data from the original fieldwork has remained buried for a decade - and just what happened to shall we say 'corrupt' the data was never disclosed, and probably won't be disclosed as new employees are hired to replace old.
How convenient for the BOD none of this is addressed by banking analyst Q&A sessions
paulmetcalf
It's easy to criticise or be sarcastic of any information offered, with that in mind I shall certainly a disclaimer on any future post
But any information in the past I have posted has been offered in good faith and its for you and the others to decide whether or not to take any notice, I would have been delighted to have been able to warn everyone about the crack in the wall, most Centamin investors I know were of the opinion that the share price would fall back to around £1.60, Martin Horgan would issue a statement and the rectification would take a year or so to get things back up to speed.
However at that time the man on the train did say the word was that although a quicker fix may be possible it may not be the best or most reliable option for the long term, so it was a case of have to wait and see what the new man went for, that said no advice one way or the other was offered, or whether to stay in or get out, not that there ever was in the past, so I made the decision to stay, wrongly it would seem at present!
The man on the train was a useful source of confirmation on certain issue such a when the court case started up and there were all sorts of rumors concerning the legality of the 160 sq km and other operational/contractual issues , so no he weren't right all the time about all issues ,but then who is and any source of information are dependent on the accuracy of the information given to them and that like anything else can be subject to change.
Actually Kees Dekker flagged up concerns in 2015 prior to and almost correct to the month of 2018 when Andrew Pardey issued the next RNS of hitting unexpected low grades, etc , etc .
Unfortunately, but understandingly I suppose I chose to believe what a senior director was telling the share holders in preference the opinion of an independent, but highly experienced analyst, I made the wrong choice as did others, but Kees was spot on, although that said how many mining analyst get it right all the time, certainly not most of those giving opinions on Centamin it seems, how many of them when the share price was £2.30 were predicting £2,90 were aware of the state of the Sukari open pit until the wall cracked, so they all got it wrong, with the exception of Kees!
The friend from my local isn't offering advice, he is just repeating hearsay of what goes around the the market he deals in, but that said he isn't alone in his opinion on EMRA.
The man on the train said to me a long time ago that neither EMRA or the Egyptian government had ever put a single bean into Sukari and they never would, but they would take their cut and some, seems Dasut hit the nails on the head there in his reply to Cowichan!
There is lots that I could post on here, which some are already aware of, however I take the point its best not to post some information in an open forum in case things don't materialise as envisaged
*Please note This post does not offer or constitute any investment advice.
Hi DASUT,
The numerous Barrick hires of the past 24 months now work at Sukari in Egypt.
I agree that we shouldn't be surprised or put-off when Centamin attracts global talent - it's just the number of hires and the key positions they've filled at Sukari that gives me pause.
As I've said before a strategic combination of companies - given the right partner - might be sensible - but Barrick acquiring Sukari and all of Centamin's Egyptian concessions at this point would be a huge loss for long term shareholders. The value creation that one or two Sukari sized discoveries would bring is what shareholders have been waiting over a decade to see - not an underhanded Barrick acquisition at 10cents on the dollar of future valuation.
Cowichan, Something that I find interesting is how strong the new team is becoming and yes there are a number of Barrick guys coming on board. I quite like that albeit maybe presupposing too much but Ivory Coast as you know well is French speaking and synergies and flexibility makes sense to me as the business develops and grows.
There are few French speaking countries around the world like Canada producing mining professionals.
Presupposing the new appointees speak French but if they do then hats off to the HR Department or am I being too optimistic?
Miz, Interesting but I don't see EMRA throwing money at Sukari when they get a 50% share of the profits with no investment necessary. Experience tells me when Government nationalise going concerns in particular risky ventures like mines they crash and burn primarily because it is thought to be a license to print money and money means greed.
We know how easy it is to get things wrong even with so called professionals running the show.
Shalateen not sure who they are OK understand what they are but who are they is more important?
https://www.tipranks.com/stocks/gb:cey/forecast
and RBC says 140p
Regarding your 3 posts Mr T. I know you are a long time investor/ sufferer here, and i've been here over a decade myself EEK! But your contacts never seem to flag up concerns before things happen??? Im talking about the "pub contact" and "the man on the train", not Kees Decker and his findings . It is good to know what has gone on, but even better to know about it while it is going on!
Im hoping that Martin Horgan is sorting out the various problems he has inherited. I would assume he is savvy enough to have had a good idea what was going on before he took job.
Lets hope all the bad news is out of the way and things will get better soon. Im not getting any younger.