Ryan Mee, CEO of Fulcrum Metals, reviews FY23 and progress on the Gold Tailings Hub in Canada. Watch the video here.
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Centamin have said they would be hunting for acquisitions every year since I remember.
Just listend.
it was along with my thinking.
Will it happen now.
More likely, gradually, I think.
glath.
Similar style of mineralization as Sukari, grade is good, not sure how robust the geo model is, but @ 1.9 m ozs indicated and 1.9 m ozs inferred, it should g close to having scale. Big issue is why has it not grown, as my thinking would not be the first along these lines. Hint: https://globaledge.msu.edu/countries/ethiopia/risk
Reported Gold reserves and estimates?
The indicated resources of the Tulu Kapi mine as of March 2014 stand at 21.2 million tons (mt) graded at 2.73g/t Au. Inferred resources are estimated to be 2.89mt graded at 2.03g/t Au.
The total indicated and inferred resources in terms of gold equivalent are estimated to be more than two million ounce (moz).
Gold Mineralisation occurs in veins, breccia and crackle zones of the Proterozoic syenites along with intrusions of porphyritic syenite, diorite and dolerite. Sounds very interesting...
But political risk on a scale with Burkina Faso and Mali?
the gnome
Hi Cooperman,
At first glance it doesn't look like the Kefi project would meet Centamin's IRR hurdle — whereas the Tietto project has an over 50% IRR at $1300 gold
Hi cowichan
For my sins I own a number of shares in kefi , they came about because I owned shares in another company , can’t remember their name , but from my recollection they gifted the company to kefi. My point is that when they were not kefi , CEY want wanted to buy the Tula Katie mine. This has took an eternity to get to financial close and is still up in the air . Any thoughts ?
Trying Tibbs! My latest attempt here:
https://www.linkedin.com/posts/don-lawson-98619370_egyptian-gold-miner-centamin-considers-debt-activity-6918224927737225216-zJU3?
The problem is we want Centamin to grow (I think?) and get out of the one asset risk category - but how can we trust the BOD not to squander more capital on exploration dead-ends?
It is entirely unacceptable to not apprise the market of the latest Batie West happenings - if it has been relinquished as was Napelapara and Wadaradoo - then say it
The dereliction of duties has got to stop - it's to the point of criminality - when material details are hidden from view then brushed under the carpet never to be admitted of spoken of again
It's a shame Mr Horgan has to be the voice for these 'potatoes' sitting on the board when it really isn't his fault - but past decisions and years of mismanagement must be addressed asap - so if the IR dept is reading this - disclose what happened to Batie West - before you go and spend hundreds of millions in borrowed funds
22.6K subscribers
In this week’s Live from the Vault, Andrew Maguire unpacks the Bank of Russia’s shocking decree, declaring the bank will accept only gold or gold-pegged Ruble payments for oil, energy and commodities.
The precious metals expert explains how Russia’s attempts at bypassing recent sanctions could trigger huge arbitrage opportunities, bolstering the Ruble’s value in the process.
Timestamps
00:00 Start
01:30 Recap on the main market drivers in the past weeks
05:50 The Nuclear Option: Three things forcing the gold revaluation
16:15 How do these developments value gold in the medium term?
25:20 GLD ETF under attack! How Basel III fits into the gold revaluation?
31:40 The connection between the silver and nickel market
40:30 Looking into the 2nd quarter of 2022
https://www.youtube.com/watch?v=9YIkmYsZq74
(As always please note- The opinions expressed in this video of Andrew Maguire and any guest,)
Quite so Cowichan and I hope that you will keep continue to hold the company to account via social media!
Rebess,
Had a look to see who Centamin might have an eye to acquire - somebody already operational or soon to be operational in Cote D'Ivoire would seem a good bet.
Tietto Minerals is currently setting up their processing plant - expecting first gold production in Q4 2022
Interestingly Paul Kitto is on Tietto's board ( former CEO of Ampella 2008-2014 until Centamin bought them and their Batie West deposit! )
$500 (Aussie) million market cap - the latest presentation here:
https://wcsecure.weblink.com.au/pdf/TIE/02504400.pdf
If acquired Centamin would also pick up a tried and true West African mine builder in Matt Wilcox (current COO) if he stayed - which wouldn't be a bad thing going forward with Doropo needing to be built soonish
https://www.linkedin.com/in/matthew-wilcox-2a731624/recent-activity/
Also, Tietto has quite a few concessions in Cote D'Ivoire - they talk about exploration plans in this video from last November https://youtu.be/Q86Bqya58p8
Could be a good way to diversify in a hurry ?
WW3 started several years ago, economic war.
So - Debt-free status about to change, supposedly for acquisitions. -- We'll see. -
Russia ties Ruble to gold, now America is very angry WW3?
In an interview with @TheAfricaReport our CEO Martin Horgan discusses how maintaining financial flexibility is key to achieving Centamin’s growth strategy. #CEY $CEY #growth #strategy #gold #mining
https://twitter.com/CentaminPlc/status/1512392528267460610
Posted on Friday, 8 April 2022 06:00
Egyptian gold-miner Centamin considers debt facilities for acquisitions, says CEO
Centamin, which operates Egypt’s only gold mine, is reviewing its capital structure with a view to creating flexibility for possible acquisitions, CEO Martin Horgan tells The Africa Report.
Setting up credit facilities would allow Centamin to take an “opportunistic” approach to buying assets, Horgan says. The company would be able to bid with a combination of unused debt and shares if a target became available. “It’s far quicker if you have the banking relationships” already in place....
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My Thoughts
The IR person taking over for Alex is keen to increase the # of social media posts - that's great.
However, the Annual Report mentioned the preference of management to 'communicate' with shareholders via 'trusted 3rd parties' - that's not so great IMO
What is the point of signaling intentions thru backdoor channels? New IR person - if you're reading this - shareholders want more direct accountability from the BOD - not another layer of shielding or more avenues of conjecture
Nice to see a good afternoon trading on breaking 94p again
Some large-size buying, I see on the last few minutes 2x30k and one 25K buys
and order book strong on the bid side
https://m.youtube.com/watch?v=XDw7PR6rrHQ
If charts interest you
Think the break out is happening now..gold going up alongside DXY is a good signal
I took a final lot today at 92.88. Fully stocked now until divi payout which will be re invested. I think we're on the verge of a pretty large move in metals. I've been wrong quite a few times :) but I've loaded up the last few weeks on top of my core holding in the hope that the decent move happens...if and when gold breaks the all time high well be off to the races
Major stock indexes in Europe traded higher in the premarket on Friday, as the tumultuous situation in Ukraine continues. The British Defense Ministry shared that the Russian army has completely withdrawn from the north of Ukraine. Earlier, the European Union agreed on the fifth sanction package against Russia.
The DAX rose 0.51% at 7:08 am CET. London's FTSE 100 increased by 0.45% at the same time. The CAC 40 was up 0.55% at 7:08 am CET.
The euro lost 0.16% against the dollar at 7:20 am CET, selling for $1.08615. The pound was flat against the greenback to go for $1.30705 a minute later.
Baha Breaking the News (BBN) / AY
Enjoy your weekend y’al
David Payne, commercial executive, has benefited from the company’s recent performance and the share price movement. He sold half a million shares at 96p a share on 25 March, which came shortly after he offloaded 1mn shares on 22 March at 95p a pop. This means that he has sold £1.4mn-worth of shares in recent weeks.
https://www.investorschronicle.co.uk/news/2022/04/07/capital-exec-cuts-stake-as-shares-rise/
Thank you Cowichan for posting the announcements and your thoughts, you raise some relevant points.
I share your opinion on the ability of the BOD, I doubt they will notice anything has been announced for some time, they have seagulls to watch!
Lets face it from past experience the BOD move slower than the Egyptian judicial and the SCC system!
So I think its pretty certain that any negotiations will be left up to Martin Horgan.
The agreement enumerated the importance of the draft law, foremost of which is the control of indiscriminate exploration (civil mining) for gold ore and the accompanying minerals, explaining that the full funding of research and exploitation expenses falls on the shoulders of the Shalateen Company without the government or the authority bearing any expenses or costs. (1) Government participation in production from the start of the first production to be achieved.
The parliamentary report indicates that the government receives (2) a royalty of 5% of the total production before deducting the value of the recovery costs, pointing to the establishment of the Shalateen Company, a factory or factories to produce gold, either by itself or in partnership with other international companies or companies operating in Egypt in the mining sector.
The report noted the commitment of Shalateen Company to market mineral ores in the local and international market and to complete all sales on the best terms that can be obtained in accordance with the prevailing market conditions at the time of sale, and (3) the transfer of ownership of fixed and movable assets automatically from Shalateen Company to the Mineral Resources Authority when the company has recovered the cost of these assets in full or upon the expiration of this Agreement.
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My Thoughts:
(1) Unlike the Centamin agreement - benefits to gov't from start of production
(2) A royalty of 5% is pretty dang low - how can the EMRA justify anything more from its ongoing negotiations with Barrick, B2 and Centamin ?
(3) 'transfer of ownership of assets after cost recovery' This is like the Sukari arrangement only with less 'profit share' - so Shalateen (and any mining company that partners with it) will have an advantage over the new terms offered to the last concession bidders Barrick, B2, centamin, etc. in that cost recovery will be allowed AND at a much reduced 'profit share'
https://pigthumbs.com/amp/africa-news/egypt-news/parliamentary-committee-the-gold-industry-has-become-active-in-egypt-thanks-to-the-attractive-mining-climate/
Sounds like everything is up for negotiations with the Egyptian government - one only has to be willing to ask - fairly confident our current BOD's are NOT up to the task - but maybe Mr Horgan is - we'll see
Al-Sisi ratifies seven laws allowing Petroleum Ministry to search for gold in Eastern Desert
President Abdel Fattah Al-Sisi ratified seven laws allowing the Ministry of Petroleum and Mineral Resources to contract with the Egyptian General Authority for Mineral Resources as well as Shalateen Mineral Resources Company to search for and exploit gold and associated minerals in the Eastern Desert.
This includes research and exploitation of these minerals in the area of ??Jabal Iqat, Jabal Al-Jarf, Jabal Masih, Jabal Elba, the Aswan region of the Eastern Desert, as well as the Hamata, Atoud, and Wadi Allaqi regions.
The laws were published in the Official Gazette on Wednesday.
The presidential ratification came days after the House of Representatives — headed by Speaker of the House Hanafy Al-Gebaly — approved a number of laws allowing the Petroleum Ministry to research and exploit gold and minerals.
It is worth noting that the Jabal Iqat mining area is a promising area in terms of of natural resource deposits, the most important of which is gold.
The ministry asserted that Egypt has a minimum reserve estimated at more than 1m ounces of gold, with total investments exceeding $1bn.
https://www.linkedin.com/posts/petroleumtodaymagazine_al-sisi-ratifies-seven-laws-allowing-petroleum-activity-6917753297089032192-vPZv?utm_source=linkedin_share&utm_medium=member_desktop_web
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My Thoughts:
1) Why was it necessary to create new laws?
2) I thought the new mining code was a done deal - intending to draw new foreign investment - why would the EMRA need to partner with the Ministry of Petroleum?
3)Who would finance? The Ministry of Petroleum never self-finances - always has a foreign partner.
4) If Siko is reading this perhaps some insights?
5) I thought the EMRA was taking a backseat in future gold projects i.e. not needing to 50/50 partner with new explorations and developments - this seems to be a step backwards.
6) As far as Shalateen goes - do these new laws make it more attractive to the likes of Sawiris/La Mancha?
April 2022
I’m happy to share that I’m starting a new position as UG Mobile Fleet Maintenance Planner at Centamin PLC!
https://www.linkedin.com/in/jacobus-richard-thorne-70378666/
That makes TWELVE former Barrick employees now working at Sukari...
Hi Halfpenny, I agree a buy rating is beneficial, my point was the analysts don't really have an in depth knowledge of work in progress at Sukari and it is now apparent that during the annalists Sukari visits in the past that the analysts weren't looking where they should have been or didn't ask the right questions, or perhaps they simply didn't realise that the site was being high graded and that it was in danger of disappearing under a decades worth of uncleared waste, just like the Jersey BOD who were watching the seagulls!
Although when you consider the value the analysts are putting on the company is barely what it was when stage 4 was still under construction and the repayment of CAPEX not to mention profit share was somewhere in the future, the share price was over a £1 when the first revolution was taking place in Cairo .
Yet even though there is the temporary increased AISC and profits are being split 50/50 the CAPEX has been repaid,no company debt, Sukari reserves life is better than previously estimated and underground grades better then expected ,solar soon to come on stream and there is the likelihood of some good Egyptian reserves being announced.
This company is making a profit and will no doubt make a lot more and yet the analysts come up with piffling targets of £1.20, well big deal!