Ben Richardson, CEO at SulNOx, confident they can cost-effectively decarbonise commercial shipping. Watch the video here.
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PaulC
That would make no sense. Paper is undervalued.
Have a look at Great Bear Gold takeover in Canada ...
No Resources
No Plant
10 samples for Geomet (probably << ).001% of the volume of mineralisation
us$1.4b upfront
https://greatbearresources.ca/site/assets/files/3750/gbr-corporate-presentation_12-2021.pdf
Anyone like to work the numbers on this acquistion.
best
the Gnome
I was highlighting the ‘potential’ bit.
The transcript was very upbeat and 2022 is going to hinge on evaluation of the bonanza grades. This should offer significant current share price support. Some bears have claimed the dividend is at threat, simply not true according to transcript
Ditto that the capital restructuring will be dilutive
My greatest concern was the risk of CEY launching a paper bid for someone else. Don’t see how they can at this share price but such talk never inspires confidence if current assets are so great. I assume any acquisition would be a producing asset.
Darren your not the only one. I certainly have not seen this coming. We have a rising production base and reserves and resources being developed on a longer life of mine model. To achieve all this takes a higher AISC and not wiping out cash or taking a bank loan from another source to fund it all instead. The up front cost of doing all this is $80M in 2022 and then after that a return of 100,000 ounces in production and a competitive AISC for two years delivering $80M as shared profits. The gold production profit being shared gives a net of at least $12.5M and could be much higher depending on prevailing gold prices. So all that AISC spend in 2022 comes back to us and delivers longer term stability. The financial review will have to look at how Sukari operates if a loan was taken to build another Egyptian asset and what happens to the profit share set up as it discourages investment via a bank loan and encourages a model of doing it all through high future AISC instead and EMRA get less money back anyway via that route. Another factor is how low interest rates remain. If they can not go up much it allows for borrowing as a growth model metric. Of course they need to find that new mine deposit first, but the fact they are thinking this way suggests they are optimistic at least of finding a good source. Tony
This bid was pre the Oct2020 mine issue, and of course, the RNS the other day, the first official update on Sukari recovery and plan for way forward.
As Torna posted, there is a seasonality to it. It always dips into December, then routinely posts some of its biggest gains in january-february.
It's quite concerning that it's testing its key support levels so much, but so long as it's only for a few trading sessions, and ultimately holds around 89p, then I'm happy to let these shares ride into the new year.
How low can this go. Shed loads loss on this
Two years ago:
The Endeavour Mining Corporation has announced that it is looking to agree to a merger with Centamin due to the latter's "compelling long-term value creation opportunity."
A paper deal but opening bid valued CEY at 118p.
How low does CEY have to go before someone steps forward. The net cash pile could easily attract another paper bid from someone looking to reduce gearing?
Equities in Europe traded lower in the premarket on Friday ahead of the release of several economic reports, including the ones on the United Kingdom's gross domestic product (GDP) and Germany's consumer prices. Earlier, Russia claimed it intercepted the United States and France's military airplanes that were flying over the Black Sea, thus tightening the ongoing tensions between Moscow and the West.
The DAX lost 0.24% at 7:22 am CET. At the same time, the FTSE 100 declined by 0.41%. The CAC 40 went down by 0.39%.
Both the euro and the pound sterling stood flat against the dollar at 7:24 am CET, going for $1.12987 and $1.32193, respectively.
Baha Breaking the News (BBN) / JR
Happy Friday y’al
The storm will pass and the stock will trade in a new lower trading range.
Junior Canadian gold mining company Harte Gold Corp. HRT-T N/Ano change
is seeking creditor protection after failing to overcome a multitude of technical problems at its Northern Ontario mine.
Formerly chaired by well-known Canadian mining entrepreneur Stephen G. Roman, Harte put its Sugar Zone mine in White River, Ont., into production in 2019, and almost from the get-go it struggled.
The rookie miner encountered poor ventilation underground, faced equipment failures and even grappled with the freezing of its tailings facility owing to severe weather. In addition, both the quantity and grade of gold recovered at the mine came in significantly lower than expected. Eventually, Harte’s production costs skyrocketed to north of US$2,000 an ounce, significantly higher than the price of gold, and more than double the US$800 that was originally predicted. In May, Harte put itself up for sale but no buyer emerged.
Harte Gold’s filing for protection under the Companies’ Creditors Arrangement Act (CCAA) has an air of déjà vu. Five years ago, another Canadian junior, Rubicon Minerals Corp., was forced into CCAA after encountering serious technical problems at its gold mine in Ontario. Both Rubicon and Harte stumbled after charging ahead on mines after only the completion of an early-stage engineering report, eschewing the industry standard of conducting a full feasibility study – traditionally a backstop against disaster.
Jon Case, a portfolio manager with CI Global Asset Management in Toronto, says Harte’s capital structure was also too heavily weighted toward debt, as opposed to equity. Consequently, it had little breathing room to survive once trouble started. “A company that has a lot of debt doesn’t have the ability to withstand shocks,” Mr. Case said.
Under the proposed restructuring arrangement, Australian miner Silver Lake Resources Ltd. is poised to take control of Harte. Silver Lake is willing to provide a $10.8-million loan, which would allow the mine to continue to operate for now. Earlier in the year, Silver Lake assumed $65.6-million in Harte debt owned by French bank BNP Paribas. It will now take on the remaining debt of approximately $29.4-million, owned by London-based private equity company Appian Capital.
Under the arrangement, common shareholders in Harte will be wiped out. Those include Appian, its largest shareholder, as well as Canadian money managers Goodman and Co. Investment Counsel, and Mackenzie Financial.
Harte’s second biggest shareholder, Toronto-based New Gold Inc., acquired its 154.9 million shares, worth $24.8-million earlier this year, in an apparent bet that Harte could fix its problems.
https://www.theglobeandmail.com/business/article-canadian-gold-miner-harte-gold-seeks-creditor-protection-after-rushing/
So much doom and gloom here today. Especially when some mention that the past 2 years as a CEY shareholder have been awful. How? As long as you got in at or below 100 each time, as a trader you had a good shot at making a healthy 50%+ return in 2019, a 100%+ return in 2020. Or as an investor, you earned a very solid dividend, which, if you include it in your yield, put your performance pretty much in line with other mid-cap single-asset producers. Plus were given upside through trying to get away from the single-country, single-asset profile, which of course takes time, and does so for every company. So overall this has been a pretty okay stock for both traders and investors in the past years. Unless you got in at 200 at the top of last year's gold rally. But then what mid-cap single-asset producer would have left you so much better off?
Sorry . If wrong. Not much.
:-).
Sounds to me like some pro trolls working on CEY. ;-).
Keep it up trolls ,not convincing.
Lol true, damn whiskey.. so 2 years away till we are back at £1
Some dubious date maths going on. Can't see how 2024 is 1 year away unless Dr Who is on the BoD.
TheBeerStalker: are you still invested here? I have been in with CEY for less then a year, I think we will come good in the end, but we will have to be patient, maybe a couple of year (or so). I just upped my investment today.
If you’ve been in this share for a year or two, you won’t be seeing positives right now. We’ve all made some poor purchases, I’m sure, but this one always has you believing it’s about to turn the corner, and reward your loyalty and investment. It just hasn’t delivered, and wears you down eventually; that was my experience. I hope those of you that swapped GSK for it do better than I fear and did with CEY.
Looking at sp chart of all time I can noticed that they have pumped sp twice and than bring it back to the start price....They have done it now again. That can not be a coincidence, especially now when price of gold is much higher. We have been on this sp level in April 2019 when gold was 1270usd so much lower than now. It would be interested to see who has been buying today. At one moment near the market closing there were bought 3 million shares in a second. Another similar purchase has happened few minutes later. If those buys have been made from insiders, we will see that tomorrow, than this is the bottom and whole sp movement is fabricated.
4 December 2013
28 November 2014
18 December 2015
15 December 2016
6 December 2017
6 December 2018
20 December 2019
24 November 2020
Hopefully 9 December 2021
I also think that taking on debt to fund this would be justified , but it would have to be matched by a new dividend policy , rewarding shareholders with a dividend, equating to current interest rate plus 1 to 2 % premium, to give shareholders a greater reward than holding their money in the bank.
I am talking myself into holding on to the share for longer.
By Lorcan Roche Kelly
1 December 2021, 14:31 GMT
Institution bought 2 tons of precious metal in recent months.
Move comes amid increasing concern about the inflation outlook.
The Irish central bank has been adding to its gold reserves as inflation in the euro area runs far ahead of the European Central Bank target.
The Dublin-based institution’s purchase of 2 tons of gold in recent months has ended a more than decade-long period of unchanged holdings of the precious metal.
When asked about the reasoning behind the purchases, a spokesperson said that the central bank’s gold transactions “are commercially sensitive and no further comment can be made at this time.”
While the institution has given no reason for the increase in its stockpile, the Governor Gabriel Makhlouf last week warned that policy makers cannot afford to be complacent on inflation.
Central bankers’ appetite for gold grew in the first half of the year, with global reserves expanding 333.2 tons, 39% higher than the five-year average for the period, according to the World Gold Council, which noted strong purchases by Thailand, Hungary and Brazil.
Singapore increased its gold reserves by about 20% earlier this year in a largely under-the-radar move the central bank says will ensure the resiliency of its portfolio.
https://www.bloomberg.com/news/articles/2021-12-01/irish-central-bank-makes-first-reserve-gold-purchases-since-2009
The new devolved entity will need new competent people to run it ..I am guessing you might know one or two who would fit the bill ?
Cowichan ...I like the idea of spinning off Doropo , Batie and ABC into a separate entity , I would agree with that , but I don't like the idea of raising new equity to fund it , even if it remains a majority owned entity , because how can the equity holders of the new company get their returns without it having a corresponding taking away of returns from current Centamin shareholders ?
Whichever way you structure it , the raising of new equity will dilute the equity of existing shareholders.
My solution would be to do exactly as you say , but treat the new company as a devolved entity ( just like Scotland ) and allow it to manage its own affairs , unencumbered by central board apart from returns targets for the capital allocated to it .
That might just work and buy them more time
Regards
Irontaz: I have got a target of £1.30, so I hope you are right. GSK has been flying as of late, I was going to hold until the split, but changed my mind today. I have doubled my holding of CEY. It's a bit scary!!!
How comes there is no news of future dividends? Can anyone point me in the direction of what we can expect in dividends in 2022?
Kintore,
9 posts in a little over 3 years and this your first one on CEY!
You don't post much but that was a very good post. Welcome to the CEY page.
Best wishes,
Prof