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bit late to the party, but previous message from AUSON
"SOTOLO, Do you happen to know if there was any fuel hedging this year ?"
Kudos to that question, preferably around the -$40 mark? that would be good for AISC!
With inflation really kicking off worldwide, it would seem imprudent not to be hedging fuel costs, especially as its looking like oil is probably going to test its previous $100+/bl high from near the 08 crash.
Good points Tibbs.
The key is good communications and rationale from CEY keeping all informed of the business reasons for key decisions.
The problem has been the mismanagement, the various shenanigans which does not help with confidence and giving away assets over a number of years. As people have mentioned, trust is key for the SP and meeting our aims and objectives.
I think that CEY have come a long way with the new MGMT team and hopefully 2 years down the line we will really start to see the share price at all time high.
bests
Hardly- no travel stocks are bargains right now with lockdown on the agenda for so many countries 'caveat emptor' springs to mind.
Hi MrBond,
Thank you, sorry I should have made it clearer!
Not my words, but part of the three paragraphs from a well respected and highly experienced mining analyst and geologist, see below-
"You need good grade in Western Africa to pay for extraction there. There is such a thing as an African cost structure and it is relatively high. To that you need to add the security risk which is increasing annually with the fundamental islamist insurgency. Sure, the comment below about forfeiting 1.4 million ounces may be true, but are they economic ounces? It may well be a case of preventing throwing good money after bad money."
"Funny how often people believe that management makes decisions unfavourable to the company and, by extension, them."
"From recent actions it seems that Centamin management has decided to rather focus away from West Africa with all its problem back to Egypt where they have a strong foothold, existing government relations, knowledge of the geology and it being a country with very little historical exploration. Without knowing the details I would think this is a very sensible approach."
Hardly- Austria only 65% vaccinated- there’s ur problem! Dow futures down ~0.6%, s+p ~0.25%, nasdaq +0.5- hardly dramatic.
Still, wouldn’t want to be in travel stocks unless long term- there are some bargains but it is, like always, a timing thing.
I toally agree with your sentiments MrTibbles especially you sentance stating "Funny how some people".
Unless they have some ulterior motive.
There are times I despair at some statements made.
Pre market Dow at -250 and Austria to go into full lockdown. Hard hat time once again?
Dec will b an opportunity for an update on how the open pit rectification work is going and a look forward.
Also there may be new data available from the geological surveys that are now ongoing, these results will be much more up to date and so offer more clarity compared to what was available in the past,this should enable better production planning which should also reduce AISC and help to achieve more reliable future guidance.
Gold should have breached $2000 by now, but as we know we live in a world manipulated by those that don't want change for whatever reason.
Possibly you have an opinion on these issues that you would care to share?
Dec will b an opportunity for an update on how the open pit rectification work is going and a look forward.
Also there may be new data available from the geological surveys that are now ongoing, these results will be much more up to date and so offer more clarity compared to what was available in the past,this should enable better production planning which should also reduce AISC and help to achieve more reliable future guidance.
Gold should have breached $2000 by now, but as we know we live in a world manipulated by those that don't want change for whatever reason.
Possibly you have an opinion on these issues that you would care to share?
Looks at most PMs all the same today
Do you really think that after the December update it will go up because i certainly dont just look at today opened near to 106 and now back to 102
I think it will be another 12 months before we see any movement unless you belong to the Andy Maquire club with gold at 2300 by early next year
Courtesy of Stevea171 on ADVFN HOC board
hTTps://www.youtube.com/watch?v=43OH0pONDUE
It's time that some of the other mining companies, especially the huge multinational's,started treating their workers and their host countries environments properly, with respect, proper wages, H & S , etc.
Also far too many mining companies are good at squandering their investors money on dreams pumped up by paid media hype and using analyst's with little or no actual "On the ground" experience.
Thankfully Centamin sets the standard in the way it treats host countries environment and its workers and long may that continue!
It is also fortunate that we now have a CEO and management team who rather than like our politicians claim "Don't blame us, it's that last lot!)but instead they have the integrity to acknowledge past imprudent behavior and have set about putting things right! for the future.
With this in mind I sought the thoughts of an independent and impartial, but highly experienced mining analyst on Centamins past and present activities in West Africa.
"You need good grade in Western Africa to pay for extraction there. There is such a thing as an African cost structure and it is relatively high. To that you need to add the security risk which is increasing annually with the fundamental islamist insurgency. Sure, the comment below about forfeiting 1.4 million ounces may be true, but are they economic ounces? It may well be a case of preventing throwing good money after bad money."
"Funny how often people believe that management makes decisions unfavourable to the company and, by extension, them."
"From recent actions it seems that Centamin management has decided to rather focus away from West Africa with all its problem back to Egypt where they have a strong foothold, existing government relations, knowledge of the geology and it being a country with very little historical exploration. Without knowing the details I would think this is a very sensible approach."
In my opinion very wise council and sometimes although it sticks in one's craw it's better to face facts and stop throwing more good money after bad!
In al honesty and however good the resource, what real safeguard's are there against "Johnny Jihad", even corrupt governments just deciding to take control of the mine and then we shareholders would lose even more, so why be sensible,get what we can and let other's take the risk whilst Centamin concentrates on what it knows best in a safer and more stable environment
shareminator,
FRES was quite heavily shorted ( possibly because of the new labour laws about to take effect in Mexico ) HOC ( we all know about the political wranglings over in Peru ) POLY ( possibly risks due to Russia, and the CEO said the chip shortage would effect production ) HUM ( well perhaps lets not go there, are they not from the Jewelery Quarter in Birmingham ? )
Back to where the sp was a week past, roll on Dec until we finally see where it's going.
Equities on European markets traded higher in the premarket session on Friday, as investors waited for the latest data to come in from the United Kingdom and Germany. Beforehand, data showed that consumer confidence in the UK improved for the first time in four months.
Meanwhile, Germany hit a new pandemic record, while France commented on the difficulty of imposing lockdowns. In politics, a compromise may have been reached on one of the most problematic points of the Northern Ireland Protocol.
The DAX increased 0.39%, while the FTSE 100 was up by 0.39%. At the same time, the CAC 40 gained 0.35%.
The euro traded 0.17% lower against the dollar to go for $1.13538 at 7:32 am CET, while the pound stood flat against the American currency to change hands for $1.34942 concurrently.
Breaking the News / OL
Have a good weekend y’al
Thanks Razor - I hadn't realized. - Well, there we have it.
https://www.investorschronicle.co.uk/news/2021/11/17/markets-waking-up-to-inflation-threat-and-sending-gold-higher/
"Polymetal’s (POLY) forward price/book ratio is 3.3, although this is also well below its peak last year of over 4.5 times, while silver miner Fresnillo is at 2.4 times, down from 3.6 times. Hochschild Mining (HOC) is at a similar level to Barrick on this metric. Single-asset operators such as Centamin (CEY) and Hummingbird Resources (HUM) could be among those targeted in the next stage of consolidation – both trade cheaply, at 1.2 times and 0.5 times book value, respectively, but each one experienced production difficulties right as gold was soaring last year.
Shares in Europe traded mixed in the premarket on Thursday amid the ongoing economic difficulties caused by the COVID-19 pandemic. The day before, the United Kingdom revealed the highest monthly rise in inflation in ten years. Meanwhile, it was reported the European Parliament has agreed on the rules concerning the big technological companies' anticompetitive activities.
Lastly, Germany's ThyssenKrupp AG stated its net sales in the fourth quarter of the year saw yearly growth of 18%.
The CAC 40 stood flat at 7:03 am CET. At the same time, the DAX gained 0.07%. On the other hand, the FTSE 100 lost 0.12%. Both the euro and the pound sterling stood flat against the dollar at 7:10 am CET to go for $1.13194 and $1.34894, respectively.
Breaking the News / JR
Tietto Minerals - Cote D'Ivoire
- In Q2 2019 Abujar gold project gets updated JORC resource
- In October 2020 project receives environmental approval
- In December 2020 project receives mining license approval
- In October 2021 Definitive Feasibility Study Completed
- In Late October 2021 Tietto announces it will fast-tracking the development of the Abujar Gold Project in Côte d’Ivoire, West Africa, targeting first gold in Q4 CY2022.
https://www.tietto.com/investor-centre/presentations/
-------------------------->>>
My Thoughts:
Behold! Tietto's clear, concise timeline. No ambiguity. No infinite delays. Actual communication with shareholders - delivering on all that 'creating value' talk.
Contrast that with Centamin's progress (or lack thereof) in Cote D'Ivoire.
- In 2017 Doropo Project, Côte d’Ivoire gets an updated JORC resource est 1.35Moz indicated
& 0.9Moz inferred
- years and years pass...
- In May 2021 Doropo PEA was released - at which time
- Board approves US$14 million spend to advance the project to PFS stage by mid-2022
Whoa! Slow down there cowboy - are you sure we can handle moving that fast?
It really is total BS - and I say it's time the current slate of Centamin board members bugger off to another company and SLOW THEM DOWN. Please and thanks.
Now I'm sure somebody out there is going to say Centamin takes their time so they don't rush in and make costly mistakes. Ya right. They can make costly mistakes just fine after a decade of wait-and-see delays.
Somebody please share this post with Centamin.
I note the 400k buy @ 17:36 £424.45k originated from Canada (Can$1.79).
If gold makes a break, its price will superimpose the CEY fundamentals on top of a rising price curve, else the reverse. It's that simple.
OK, balls-on-the-line now. It would not surprise me to reach $1,900 within the next week! Any other news is peripheral to the CEY price now.
Excellent article shared by Goldgnome re: West African Resources.
Details the success that can be had with MODEST operations in Burkina Faso - compare that with Centamin's debacle in Burkina Faso.
To ignore the past is to repeat it!
"If you had invested in [West African resources] the company five years ago while it explored, studied, funded and delivered its Sanbrado gold project in Burkina Faso, you would be sitting on a more than 400% gain."
So where are we with Batie West TEN years later? Zero value creation so far. Can't even get a response from management as to the status. Are we selling? IMO some new Centamin directors are needed, pronto.
https://www.westafricanresources.com/investor-centre/presentations/
Any progress with the Batie West #gold deposit? The directors needs to act before relinquishing more gold reserves - just as they lost the 1.4 million ounce Wadarado deposit 2 years ago. $CEY
@northernminer @CityAM @MiningNewsNet @PanmureGordon @PerseusMining @SIBSTILL
@MinesAndMoney
https://twitter.com/DonLawson_/status/1461030247151800328
https://www.linkedin.com/feed/update/urn:li:activity:6866653693563985920?commentUrn=urn%3Ali%3Acomment%3A%28activity%3A6866653693563985920%2C6866798950725259264%29