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No predictions here but I am optimistic being able to buy today at just under 90p
· Revenue of US$733 million with an average realised gold price of US$1,797/oz and adjusted EBITDA of US$329 million is in line with expectations. Forward guidance suggest an approx 10% increase in production this year (407k to roughly 445k) at higher prices. Cost savings continuing (albeit with the dividend now targeted) means cash and other assets are still $250m+
I haven't checked but perhaps capex is higher than previously suggested? Exploration costs look low. Time will tell if they can achieve the top end guidance but I agree a couple of sizeable director buys would help with sentiment in the short term.
You cut the dividend if you cannot deliver on your plan. The market has taken that view and marked the shares down accordingly and they will stay down. If the company disagrees with the market it must act to correct that misinterpretation. A meaningful buy by Mr Hogan would send that message and the market would respond accordingly. I think that the market is right and has called Mr. Hogan`s correctly.
This drop is regarding last year's performance. It was mostly expected...what important is the future and as far as I can see production will now start to increase and costs come down. I'm back in at 88p as I see this as an opportunity.
The divi was 5 cents what did folks expect.
The decision of the directors to potentially cut the dividend by 45% although it has ample cash available. has unsurprisingly been very badly received by the market. It has been taken as a tangible loss of confidence by the directors in the future of the company.
Mr. Hogan must immediately make a significant purchase of share. I would suggest 500,000. His current holding of 41,000 shares is derisory.
I believe that Mr. Hogan`s remuneration is in the region of £2,500,000 per annum and he will not be paying PAYE due to the company`s residence in Jersey. He has ample resources to make that commitment and back up his words with a tangible display of confidence.
The Chairman, Mr Rutherford, should convey that message at once. Unfortunately Mr. Rutherford has had to resign as a director of Evraz. A company controlled by the disgraced oligarch Roman Abramovich. Mr. Rutherford`s judgement in ever taking that appointment calls into question whether he continue as Chairmen of this company.
Something to ponder: When US CPI was last at 7.5% the Fed funds rate hit 15%. Yet today the Fed is likely to proclaim a 0.25% lift off from a zero rate as evidence that they are taking the fight to inflation. Yet the CPI is likely to be even worse next month when the war price spikes of fuel and foodstuffs are included.
The Fed cannot get out of the trap they set. Tackle inflation and stock, bond and property markets break. Or pay lip service to Interest rate rises in the hope that investors and consumers can be conned that inflation is temporary and lower than actual.
So where should investors invest to at least retain their capital ? By holding physical gold, silver and PM mine shares. As Rick Rule has noted 99.5% of US investors don't have any PM exposure...yet.
18:00 GMT today- pretty much nailed in amount, anything else will cause wild swings- shame this always occurs when UK markets shut
Yep agree 100%- they all need to buy more shares and with what he has been saying for some time now on turn around etc timing would really help provide a much needed underlining demonstration of confidence
Martin Horgan needs now to put his money where his mouth is and buy CEY shares. - The fact that to-date he hasn't, sends out an extremely-negative message. - A meaningful investment in the company he manages would help in the restoration of confidence I feel. His reluctance to do so is tantamount to waving a red-flag. IMO
It was 106-110 due to the spike in gold nothing to do with spivs.
No - pretty much same dip as all PMs up until todays results
Agree, brought some more to average down. Good medium to long term hold.
GLA
I remember Horgan saying the dividend will be maintained through development needs. I hope there is more explanation of the lower dividend in the presentation.
Rebess.......I am now more sure that some City spivs knew these results were coming a week ago. Shares were 110 then !
short term, medium term? gives a divi, cash flow, no debt, making money. divi might now not be as good but gold price drives these shares and i'm confident within three years it will be higher. i'll wait three years for a 20% gain mi
Ive been in here about 10 years as well. Its been a rocky road. Im hoping for growth and good dividends as well. If you think about it, long term "investing" in shares should be about the dividends as otherwise it is buying/ selling/ trading and a bit like a pyramid scheme, someone gets in at the wrong time and loses out.
I cannot afford to put anymore money in here although i would have liked to this morning.
Im hoping the past and all the dodgy stuff that we have seen, although not at the time, is behind us. I think the next one is the one where Horgan starts to take reponsiblilty and not blame things on the past.
It is a pity that Egypt/ Erma have not been prepared to take a smaller share of the profits or at least defer them so money could be spent on exploration and development. Sorting out the whole Law 32 thing would be a sign that they are at least trying to do something positive.
In the mean time, Im sure things will carry on as normal here with people saying they sold near the top, called the bottom , got back in and top sliced.
Mr T If you are reading this, I hope you are soon in good enough fettle to return to the board and post.
Got to say after 10 plus years that would be a kick in the ball..... with very little to show apart from a few dividends and either a break even or a small profit for me.
That would of course mean some one has got paid well.. maybe new position. Like many I prefer a growth story and divi's to come for the future or a take over when the SP is £2-3 plus
MMmm great having some insight from so many people
Gold is Bullish back to 1pound
Again a pint of dividend costing a gallon of share-price. - A share-price that is firmly under control. - With planned lengthy time horizons before any meaningful recovery/stability, definitely being set-up for takeover in my opinion.
I keep dipping into the overdraft £5K at 90.5
You often seem to get the double whammy hit re projections.
Hopefully, from here on we can start to build Horgan and the team its probably all down to them from here on (the past failures have been highlighted).
Lets be honest of course I would like 9c 2022/23 but 5c and progression to another mine or expansion at Sukari. It has been a long 10 plus years
Are we Buying XD today?
Thx
"Not sure ?? dividend will be half this year’s payment."
What you meant to say is that the dividend will be no less the 5 c....it could of course be significantly more. I find it reassuring that the BoD are able to confidently predict a minimum.....there are a great many shares that cannot even guarantee that...
Surely, they've signalled only the "minimum" dividend for next year? Those who don't have much faith in the POG, can at least bank on this amount. Those who believe that the gold trend is up for the coming year might be hoping for more, when the mining and selling is done. I wouldnt be selling at today's sale price on treating a future variable, albeit guided probably lower, as a cast in stone.
oversold with an RSi of 40!! get real at least if you are intent on pumping ...
Can see this closing above 95....