Roundtable Discussion; The Future of Mineral Sands. Watch the video here.
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Last month JPM was predicting 5 US interest rate hikes whereas now they believe the US will see 7 25bps hikes. This was before the invasion of Ukraine.
Rates are still going up.
JPM predict a gold spike but will be below 1900 by year end. Silver follows a similar pattern.
Extended mine life, bonanza zones, yield and growth, West Africa on track to produce by 2025. Pressing all the right buttons there Mr Horgan especially loving the 7 kilo's per tonne part. Good stuff indeed thanks for posting Softrock.
Interesting slide.. Martin Horgan in Highlights and bold, Centamin in lowlights....hmmm a concern.
My understanding: It s a good policy to engage with the Board on a takeover, as the Board is compelled by law to act in the best interests of the shareholders. This plays out informally, but can go to formal and hostile in a public forum, and according to the rules of the Market Place. The offer is in writing and describes in detail the value of the offer. If the board rejects the offer, then they must do so in writing and in the public forum detail why they have rejected. If the Offerer thinks the board is acting unreasonably and not in the shareholders interests, can seek approval from the Market Owners (TSX, ASX) to approach the shareholders individally...and so on.
The Management Manages the operation of the company (hpefully) and does not deal with shareholders or represent the company on such matters.
So if I desired to takeover a company, I would engage with the Chairman or MD in a friendly chat about out the benefits, and if there is an amber light, then put my offer on the table in writing to the Chariman/MD.
the gnome
Factor in that interest rates won't be going up anywhere as much now as originally anticipated just one month ago.
Massive inflation on the way, all the consumer spending stocks are witnessing increased declared short positions opening as each day passes.
Commodities roofing it in general.
If the war wasn't getting blanket news coverage they would be highlighting we are heading into a double digit inflation period.
Strong macro environment for precious metals to just keep on rising further.
Personal targets of Gold @ $2100 & Silver @ $30 over the next few months.
The interviewer retells a conversation he had yesterday with B2Gold CEO Clive Johnson where Clive expressed frustration over approaching other companies with an offer & having that company's senior management not convey the offer to their own board or shareholder base - thus B2Gold is considering having to make hostile takeover offers directly in order to complete a transaction.
The comment starts 7:20 into video
https://www.kitco.com/news/video/show/BMO-Conference-2022/3889/2022-03-03/More-MA-is-on-the-way
Thanks for sharing Softrock!
Mr Horgan presents Centamin's strategy very well - we are fortunate to have his caliber of leadership
Also, nice to hear his confirmation the airborne survey over Sukari was completed in Q1
Yes it could return to 200 if gold price went to 2300, and if not accompanied by a market crash lowering PE’s in a general rush to liquidity imho
See it here:
https://bmo.qumucloud.com/view/2022-gmm-centamin
Interesting comments on capital structure building on previous presentations. Thus outline strategy and possible numbers on a credit facility.
For those interested in M&A, a teaser given on possible project/asset acquisition once Doropo is further advanced.
I understand Endeavor has just joined the ftse100?
Couldthis return to 200+?
Alas following U.K. markets down - gold is ok. US futures turned positive on oil drop earlier- U.K. didn’t doing anything - ltd hope U.K. markets follow US at open
Talks between Russia and Ukraine later but not expected to yield anything - on a humanity note. I really hope it does though
Answered already in below Bob.
For a buyer- it depends on why they want it that dictates the price they are prepared to pay.
Interesting comments and thoughts Steve and Sotolo
I only have questions and not answers
1) With Central Banks having to decrease and or stop Q.E and the consequent drag on the market
2) Increasing inflation
3)Geo-political extremes (Ukraine, fuel prices, exclusion of Russia from the world banking swift system etc and the subsequent hit on the P&L and balance sheet of global Corporates. Plus the reduction of world wide disposable income
What premium will a stung balance sheet. robust dividend policy and a supposedly safe haven investment have when general market value drops like a stone.
Interesting times we now live in.
Bob
How long's a piece of string...
If the price of gold does continue increasing and stays hight, what price could CEY reach?
Tough one to estimate Bob as not on the inside. However, I would not disagree with Sotolo here- rationale: 1)improvements since wall issue 2)met targets since then too (albeit they were very conservative) 3)they don't need to sell out so won't be a low ball bid 4)new Egypt concessions are at improved rate compared to Sukari deal so this can only stay the same or get better, not worse 5)much of what is said in his recent presentation 6)what he said on a results RNS webcast- can't recall exact date but do remember he saying all of work puts in better position to be in the m&a arena
Normally 20 or 25% premium,but with Cey having improving prospects I would say 150p or a bit over would do it as I would put it in an equally bombed out rival but have a third more capital in the new investment to grow.
Hi Steve,
In that the Endeavour take over bid rejected by Centamin and voided by Endeavour on the 27-29 January 2020 at 127p per share, and that gold in January of that year was 1550 - 1580 dollars per ounce what do you feel would the Institutions holding Centamin feel an equitable and acceptable bid price would be now. I ask the question on this basis as although private investors will have possibly strong views the decision would be in the hands of the Major Institutional share holders. The views of others with considerable expertise on this would be most welcome .
Bob
Centamin are trying to divest to themselves of Batie West. Asset divestment is one of the areas of expertise mentioned.
Will larger mining companies try to take over smaller ones in anticipation of rising gold prices?
Not for me would welcome a takeover as expect a nice premium on current sp
Is this potential bad news?
Major stock markets across Europe stood mostly flat ahead of Thursday's session, with investors waiting for the latest PMI data set for release after the opening bell. Meanwhile, German flag carrier Lufthansa reported its fourth-quarter earnings results.
The DAX gained 0.16%, while the FTSE 100 and the CAC 40 traded flat at 8:06 am CET.
The euro lost 0.20% against the dollar to sell for1.11046, while on the other hand, the pound gained 0.11% to $1.34164.
Baha Breaking the News (BBN) / ND
The newest 'poke around' guys checking me out on LinkedIn:
Dimitrios Zouzias, PhD 2nd degree connection2nd
Consultant Geologist in Mining&Metals | Equity Researcher
https://www.linkedin.com/in/dimitrioszouzias/
M&A ADVISORY & CAPITAL RAISING
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Our understanding of the industries where we operate enables us to engage with clients during all stages of the life cycle, and our in-house technical and operational advisory capability provides the skillset needed to optimise the potential returns of a project and / or the value of a mature asset. This, combined with our global network and A&D experience, enables us to deliver high quality advice with regard to financing solutions, joint ventures, asset divestments, the appraisal of investment opportunities and acquisitions.
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And then a new Centamin LinkedIn reply followed (a day or so ago):
"Don Lawson, the Company have not made any false statements. We have clarified this point with you several times but if you have any further questions, our offer still stands to arrange a call."
https://www.linkedin.com/feed/update/urn:li:activity:6904372198862393344
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My Thoughts:
Maybe it's all connected?
Also, while I do appreciate the offer to talk with Centamin - management could just choose to unambiguously answer the outstanding questions re: the missing HiSeis data and the suppressed (vs not suppressed?) multi-deposit discovery.