Roundtable Discussion; The Future of Mineral Sands. Watch the video here.
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AISC for Q1 1,558 but high end of FY guidance is 1,425 what has gone wrong here? Production Q1 93k which is lower than every quarter last year. FY guidance 430-460 this is really poor, anyone care to explain poor guidance and poor quarter, am I wrong? Does the higher AISC include the stated extra costs associated with the transition to be owner operators, is this a one off or ongoing?
Surface exploration on the 160km2 Sukari Mining Concession continued with the completion of the 10,000m drilling programme, targeting potential satellite deposits for the Sukari processing facility. Initial assay results have been received with promising results, supporting our strategy of generating additional Sukari mill feed through systematic exploration. The remaining results are expected during Q2 2022.
That bit atleast sounded reasonably positive
Massively oversold given cash in the bank and gold prices are so high! RBC upgraded the target from 120 to 140p as well today.
I'm waiting for the turn myself but agree it looks overdone assuming gold continues moving higher in the coming months
Seems overdone...bought some today
Well a 10K top up but had to buy in 4 tranches.
Got to say, the next 2 reporting sessions need now to start showing real improvement mmmmmmmmmm
Best of luck
Watchdog blasts London Metal Exchange over nickel trading debacle https://mol.im/a/10733065 via https://dailym.ai/android
However, they made it clear it was going to be very disappointing and it was in that a lot of costs have front loaded developments. I would like to see the CEO buy shares, like tomorrow before they jump back up 4p.
CEY often disappoints as shown yet again today
OK so Q1 down as far as ounces concerned even on the 45% by mid year so quite some work to do in Q2 to give the resemblance of getting on track for year end guidance.
So even worse than I envisaged can I find any good news other than the jam tomorrow presentation?
Well yes I am very impressed with the tonnes of ore moved. Not so impressed with the strip ratio as this is where the cost per ounce is currently crucifying us.
So question will be how long or how many ounces need to be extracted before we start seeing a break even number ?
I am sure this is uppermost in the mind of the operational team. Which leads me on to another piece of good news and that is that we now have a General Manager at Sukari who is a real hands on General Manager not a political appointee or mouth piece of the CEO.
Martin Horgan is another piece of good news as he definitely has his fingers on the pulse and understands what is happening in detail pretty much on a day by day basis.
Bad news for shareholders is that SP crashes yet again and this was definitely something I was expecting but the traders will love this certainty.
Another three months of wait and see.
Very disappointed with the Q&A session especially from the major investment organisations, does this mean that everything was as expected or do they not understand the need for information?
Joined you Tony - another 20,000 into the pension pot = $1000 divi + min $1000 for 2022 plus expectation of Q2 lower Aisc, higher ounces, higher average realised gold sales. Bing bang kapow.
10,000 shares in the ISA. You have to love the discounts they give on Centamin and you get 3p divi later on. To grow things a seed has to be planted first. Today is planting day on Centamin. We now need good weather.
Roofer good luck, too many people are short sighted and dont see the bigger picture. I'm here for $2500 and above gold prices. Once those gold prices are reached I imagine CEY will be trading considerably higher than now. Especially as things are looking better regarding outlook. Lower AISC, higher production & lowering capex. Its a super level for entry :)
Good entry point or top up point. As the Board says all things still in line......
DYOR
I think i will join you Dusterman , Gla
What did anyone expect its normal, the SP is driven by short term traders, CEY is a paradise for them.
I don't understand your point of view. Guidance is re-affirmed and the contractual issues are now in house so the company has more control. It is good news for me and happy to stick with it. All miners seem to be facing increased costs and re-configuration this is no different but this CEO has at least seemingly got a grip now.
A low production quarter means playing catch-up for the rest of the year. - The usual story. - For me, and I know I may be in the minority, the continuing bad-news is not telling a recovery story. - It is telling a story, but not the one we want to hear.
Great emphasis on Q2 now, they have to pull out of this seemingly uncontrollable dive. - Unless of course it is a controlled-dive. -
There are some films that you have watched a few times and although you know it will turnout OK, it doesn't make the bit you are watching any less scary.
I can't help feel the same about Centamin. I am pretty confident it will turn around but that doesn't make the current level of production and therefore AISC as well as the ensuing reaction to the SP any more pleasant to watch.
Let us hope that this is indeed the nadir and that hereon in we are sailing to a better place.
Best wishes to all,
Prof
We certainly have 1970's style stagflation with higher inflation and low growth.
AISC is going to drop off now, ounces to increase from now onwards. It seems the worst is behind CEY. So a great time to buy if you think gold is going prices are going higher, which I certainly do :))
I knew this would happen that's why I sold on the bell...just bought back in with 7% discount...forward looking statements are getting better, gold to move higher. I'm happy with that....ohh and the divi soon too :))
Might be a great entry point as outlook positive plus you get the divi.
Finding buyer support between 91.5p-92.5p. The company did warn everybody that Q1 was a costly difficult quarter. At some point Q1 is old news and the forward outlook will prevail. 1/3 of the capex is done for the year. Its a good job it was done at a high gold price. Huge amount of stripping out of the way.
Down more than the divi and again when goes ex, not been a good investment at all