George Frangeskides, Chairman at ALBA, explains why the Pilbara Lithium option ‘was too good to miss’. Watch the video here.
London South East prides itself on its community spirit, and in order to keep the chat section problem free, we ask all members to follow these simple rules. In these rules, we refer to ourselves as "we", "us", "our". The user of the website is referred to as "you" and "your".
By posting on our share chat boards you are agreeing to the following:
The IP address of all posts is recorded to aid in enforcing these conditions. As a user you agree to any information you have entered being stored in a database. You agree that we have the right to remove, edit, move or close any topic or board at any time should we see fit. You agree that we have the right to remove any post without notice. You agree that we have the right to suspend your account without notice.
Please note some users may not behave properly and may post content that is misleading, untrue or offensive.
It is not possible for us to fully monitor all content all of the time but where we have actually received notice of any content that is potentially misleading, untrue, offensive, unlawful, infringes third party rights or is potentially in breach of these terms and conditions, then we will review such content, decide whether to remove it from this website and act accordingly.
Premium Members are members that have a premium subscription with London South East. You can subscribe here.
London South East does not endorse such members, and posts should not be construed as advice and represent the opinions of the authors, not those of London South East Ltd, or its affiliates.
Spoonington take another look he sold many millions in the 170 s.
Josef sold his shares at around the 1.35 mark, a long way from the top.
The sale maybe does not look the best but maybe he wanted a change in life and wanted to cash out, completely understandable & his prerogative.
The repeated insinuations that he entered into high grade ramping & then sold out at the top is contrary to the facts & belongs on a conspiracy theory site.
https://www.linkedin.com/posts/don-lawson-98619370_burkinafaso-gold-mining-activity-6878085630694449152-s3zp
A graph is on the link.
Summary: Doropo is larger than most BUT with zero valuation. Why some mining analysts downplay the significance of Centamin's West Africa growth project(s) is suspect IMO
And there is the next episode .
Where thid come from?
Brilliant ,
Apparently the Konkera (Batie West) mining permit is a twenty (20) year permit - and was signed March 5 2015 #mining #BurkinaFaso #gold Centamin PLC
https://www.itie-bf.gov.bf/IMG/pdf/15-227_octroi_konkera_sa.pdf
https://www.linkedin.com/posts/don-lawson-98619370_15-227octroikonkerasapdf-activity-6878040343296798720-VtAR
After 10 years of this company ,it's surprising there are so many sane long termers left.
Or are there, possibly more than likely masochists .
And likely many passed on.
Bless em.
Still it'slike a Soap Opera ,compulsive.
What next ?
Hi Tibbs
What you say has a lot of merit. However can I add that the Executive Directors have the responsibility to profitably develop the Company but , and this the killer for me!!! The NON EXECUTIVE DIRECTORS ARE APPOINTED TO SAFEGUARD THE SHAREHOLDERS AND QUERY THE BOARD OF EXECS IF THEY FEEL THIS HASS NOT HAPPENIED!!! Their remuneration for minimal effort and work is well documented and HAVE FAILED IN THEIR PRIMARY OBLIGATION. The role of the Non Execs need to be examined in this context in my opinion although they will and or have swanned off to some other lucrative minimal effort company/companies. Apologies for the capitals but does mitigate somewhat my disdain for these leeches on the bosom of many Companies.
Bob
Hi Cowichan,
As a share holder you are entitled to call the management to account, even more so when your concerns are ignored, as has happened all too often in past!
That said, I think many of us long term share holders have also been blind cheerleaders because we tend assume that the directors of the company possess integrity, respect the trust the company shareholders place in them and so act in their share holders best interests!
Had the previous management behaved as it should have done in regard to your questions then you would have no need to have to resort to social media!
Thank you for all you do!
HI Mr Bond,
Absolutely correct, also you may recall when I questioned Josef's share sales the reason offered was that this was all part of Josef stepping down from being chairman as he was going to take was that Josef was now going to take muck more of a back seat now!
But then Youssef was Sukari general manager and he sold his free bonus share's supposedly for property development, what sort of commitment does that show, none at all!
I was also told in the past that the El Raghy family were great supporters of the dividend policy , understandable when considering how many shares the family held.
The El Raghy brothers and Pardey were running Sikari like a pyramid scheme (high grading) and they betrayed the share holders trust, but then Josef was a former stock brokers and Youssef was a former Egyptian police captain!
I record quetions being asked of them as to Joseph selling many shares.
The answer was he has many more in the company, a poor response.
It did not stop him, until ha liquidated the majority.
Now from what I can see he sold the lot at the top.
Very poor PR.
There I have no confidence. Too many conflicting obligations and info from all.
Thank you Rebess, of course I see your point.
After previous ,lies/subterfuge , understandable.
But at this point with the previous faults being rectified ,one has to have some confidence in the current Senior Management.
Patience has been worn thin, but now a little more is needed.
Horgan and BOD ,though costly, did maintain the promise of divided, many would have not.
Thank you for your reply.
Hi Mr Bond,
I agree, it took a narrowly averted catastrophic pit wall disaster to expose the cracks in the glossing over the true facts that Josef,Youssef and Pardey had been party to sice 2015.
I question Pardey in 2018 on a telephone Q&A session about the high grading that had been flagged up by Kees Deker in 2015 & 2018 , Pardey denied all knowledge of the reports and he agreed that I should forward them to him and that he would reply to me.
After I sent the reports to him he ignored all further correspondence from me.
As a matter of interest when the first 2015 report was published Pardey claimed to Seeking Alpa Kees Dekker had used the wrong data , subsequently Pardey entered into dialogue with Kees and agreed to send the correct data, despite several requests from Kees to Pardey for the correct data all communications ceased.
As share holders we quite understandably assumed that Pardey had integrity, he was the senior director on the job and that he would have been telling the truth, possibly the Jersey board assumed the same, or just chose to for whatever reason!
Unfortunately we are now well aware who was telling the truth!
Just after the RNS on the pit wall I was told that until this occurrence the Jersey BOD were unaware of the complete failure to clear waste in the open pit for several years.
So proof of your point about the board being so far away.
But then if you recall there were several brokers analysts site visits over the years from 2015 on and to my knowledge not one of the analysts ever raised any concerns over waste clearance,, so just how much do these brokers analysts really know about mining?
Good morning Mr Bond
Apologies for delay in responding.
My concern would only be linked with the coincidence that Centamin assets were being transferred to a company with links to Centamin's own CEO. - In such circumstances, not unreasonable for eyebrows to be raised, don't you think?
Good morning ,and thank you for your courteous answer.
My only concern is how many Senior ,___competent ___managers are "Hands On",on site.
Jersey is remote.
The past problems were in part caused IMO partly by remote reorting.
I hope in retrospect this has been resolved.
I trust now this has been resolved.
Enjoy the weekend all.
Rebess - I haven't followed Resolute (who picked up Mako mine from Toro) closely but it looks like they've had a complete overhaul of management with CEO, COO , secretary and some directors all jumping ship recently. So I doubt there would be any funny business happening in regards to our West Africa assets.
As a side note I think Resolute's management change was in response to the recent poor performance of the Mako/Toro acquisition - that mine's AISC has gone through the roof as production fell precipitously - in hindsight it was fortuitous that Mr Horgan and team sold the mine in 2019 (good luck or what?)
MrBond - I'll be the first to admit I've been harsh in my criticism of Centamin - to be fair though I think I've been a rather blind cheerleader for the better part of a decade
Bottom line I do think Centamin' prospects are bright - there is vast potential in Egypt as well as West Africa - I just want to try and hold the BOD to account in terms of setting goals and delivering in a reasonable time frame
Have a good weekend all!
Rebess would you be concerned,and why, reasons dear lady.
Glad to hear your boost of confidence.
Moralle here has been dropping to levels that are ridiculous .
I began to think deliberatly induced by outside agencies.
About time we all look at the reality , lifes too short.
Next weeks trading will be much reduced by christmas .
Then a New Year, which would seem cannot be worse than this year.
I still live in hope for the future.
All the best.
Hi Cowichan
Would you be concerned if it turns out that Toro are in the running to to takeover Centamins Burkino assets?
I can't pretend to really understand CFDs or UTs or even Comex very well. What I think I know is roughly: inflation + more QE + central bank repression of base rate + labour shortage = rampant inflation = gold is good. I defy anyone not to go long on gold after listening to this interview, (forgive me if you know it backwards already). https://moneyweek.com/russell-napier-podcast
Thank you Cowichan,
Well done for posting this!
Hi Mr Bond,
Yes , many traders on leveraged CFD close their positions Friday pm to avoid a gap up or down on Monday morning opening.
The two have been working together even before they started Toro Gold in 2009
In this 2018 (pre-Resolute) talk Mr Horgan discusses the process of building Mako from discovery to production. Companies mentioned: Taurus (private equity) , Ausdrill, Lycopodium, Predictive Discovery (and their exploration work in Burkina/Cote D'Ivoire)
Talks about Mako being active exploring Cote D'Ivoire since 2015
Have a watch - it definitely gave me a boost of confidence in the experience and entrepreneurial attitude Mr Horgan brings to his new role as Centamin's CEO
https://youtu.be/FtvRsXaf7YM
HI Marmot,
Hope that you are well , great to hear from you,
Thank you for the summing up of whats been taking place recently in the markets that will have influenced the Centamin share price.
Tibbs
aha thanks - getting an education on here!
A fair proportion of today's volume is accounted for by the quarterly re-balancing of constituent holdings of the gold mine stock ETF's GDX and GDXJ which took place today. Centamin is a constituent of both.
GDX second lowest low of the year 28.91 on Wed 15/12 could have signalled the climax sell-off for gold miners. Because the algos have been positive to gold and miners ever since the Fed glide path was announced.
Today is the last stock option expiry for US stocks for the year and probably the end of US tax loss selling. That sets up the possibility for some sort of Santa rally bounce in to the end of the year.