We would love to hear your thoughts about our site and services, please take our survey 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.
Opinion of a very experienced mining analyst-
Demonstrates the new management are dong things properly as this seems to be part of advancing the exploration regionally around the mine.
Not part of life of mine.
It will take a 1-2 months to get the first results, depending how they chose to batch samples: submitting after each hole drilled or combining several holes.
Good news should be a pointer to direction-of-travel. - - Alternatively, if we are being set-up, it could be a clue as to other devious plans. - Let's hope it's the former. - Words don't mean very much to me when it comes to Centamin. - Don't tell me, - show me. - Perhaps then, trust can be restored.- We'll see.
A good question Candid, although this is gold mining and fraught with the unexpected, but that said and even allowing for the fact that the new management may have haven taken every conceivable precaution from past experience targeted production figures have been as reliable as a chocolate teapot.
They will no doubt have that in mind, so even if you do get an answer I suspect it will very much err on the side of caution so leaving plenty of options to delight rather than disappoint the market.
*also see the answer re more drilling at Sukari, very relevant
https://twitter.com/centaminplc/status/1460578772747534338?s=21
Plus .5 % from negative 30 minutes ago.
I will be tuning in and submitting one question.
What are your TARGETED annual production levels for the next 6 years..
We already know the first 3 , they must know what they are for the next 3 years after that.
To me , apart from gold prices which they can't influence , production is the next key driver ( which their efforts can influence )! for future profits.
Let's see if my question gets raised and answered
No doubt you will all have your own questions .
Thanks Razor
Steve personally I didn’t think they’d need a drill, I hold Sukria in such esteem, I thought a leaf blower would have been enough!
Rns prior to today’s mining conference is positive professionalism. I believe.
Perhaps we have nothing to worry about.
Perhaps we and Centamin are in a safe pair of hands.
Perhaps the Martin Horgan effect will begin to shine through.
Thanks Razor
Hello Mark44085 Centamin tweeted about a week ago that they have started fresh drilling in Sukria.
Too early for them to have positive signs?
https://twitter.com/centaminplc/status/1453290250973982727?s=21
Interesting line........... "including further identified opportunities,"
Will it be good news? We'll find out on 1st Dec in the RNS I guess- they call it the flagship asset so this sounds good although what else would they call it lol- no one knows unless on the inside...
Centamin will host a virtual investor presentation on Wednesday, 8 December 2021. Members of the Executive and Senior Management team will present the updated life of mine plan for the Company's flagship asset, the Sukari Gold Mine, including further identified opportunities, framing the long-term vision of the asset.
The event will start at 10.00 GMT and expected to end no later than 11.30 GMT, including a Q&A session.
EVENT ACCESS
To join the webcast: https://webcasting.brrmedia.co.uk/broadcast/618e790238a15b548bb9077d.
Please allow a few minutes to register. A replay of the event and presentation material will be available on the Company's website.
QUESTIONS
Investors are welcome to submit questions prior to the event via the above link or by emailing investor@centaminplc.com.
Major European stocks posted slight losses in Tuesday's premarket trade as investors awaited key data reports on the state of unemployment in the United Kingdom as well as the Eurozone's economic growth in the third quarter of the year.
The previous day was marked by the news that United States President Joe Biden signed the $1 trillion bipartisan infrastructure bill into law, a move that could leave an effect on markets.
The DAX slipped 0.10%, while the FTSE 100 lost 0.11% and the CAC 40 declined by 0.07% at 7:12 am CET.
The euro advanced 0.15% against the dollar to sell for 1.13775, while the pound expanded by 0.11% to $1.34212 at 7:18 am CET.
Breaking the News / ND
16th NOV '21
(today)
RBCCM Global Mining & Metals Conference
Centamin participating, an RNS to coincide perhaps?
I've contacted the market regulators who oversee the TSX and the exchange itself but their reply is generic - expecting the whistleblowers like us to provide specific evidence that incriminates i.e. official supporting documents of a crime - which would be quite laughable if they weren't serious.
That said I suppose there's just not enough resources for the so-called regulators to follow up on such allegations of corruption - especially when acts of bribery etc. take place on foreign soil.
Also, great posts. Rick Rule's commentary is always worth a detailed read.
Just got some local messaging from Burkina, the Head of the Cadastral system in Burkina Faso Government, probably has his hand out, and probably fairly often. Sad state of affairs. The Cadastre Office is the seen of a lot of wheeling and dealing, so it is not too hard to build a case of what happened in regard to the Centamin permits...
Cowichan, is there a mechanism for suggesting to the Canadian regulators that there may have been a bit of funny business going on, and for them to audit the beneficiary company?
For the poor people who continue to suffer,
best
the gnome
The Mayhem Watch is on. Closing arguments in the trial of “Kenosha Shooter” Kyle Rittenhouse are expected Monday, and after weeks of hype, the country is primed to explode again. Wisconsin governor Tony Evers announced 500 National Guard troops will be on hand for potential post-verdict “unrest,” which seems almost guaranteed, no matter the result....and so on and so forth....
Just completed reading the "Perversion of Justice", by an investigative reporter who exposed the Epstein network. Its an appalling expose of the crass desires of a subset of the political and business elite in the USA, and one would suspect elsewhere.
https://www.amazon.com/Perversion-Justice-Jeffrey-Epstein-Story/dp/006300058X
It suggests to me all is in very bad shape in the US, which will lead to greater uncertainty. The country has the potential to breakdown into serious civil and social unrest, all fanned by the social media and the social influencers. The "Perversion" is such a distressing read, as if being poor and from a broken family is not enough. You have the wolves bearing down on your body 24/7, and a suspect justice system
I can see a fair amount of fragility and uncertainty in financial markets, which will nont lead to a strong economic revcovery.
Like to be wrong on this. The supply side of good/parts is tenuous, not only for the mining industry.
good luck those in the US.
As posted previously the MandA hunger is only increasing in the gold industry. Some notes from Rick Rule
Gold miners now seem to be hungry for growth, looking to use their growing bank balances to fund capital investments, mergers and acquisitions.
“I think Australia is particularly ripe for mergers and acquisitions in two senses,” Rule says.
“One, the acquisition of non-Australian companies by Australian companies and increasingly — if the bigger and better Australian companies don’t begin to sell at premiums — the takeover of those companies by foreigners.
“And of course, the lateral and strategic mergers within the Australian Exchange. I think the next 18 months is going to surprise everyone positively with mergers and acquisitions.
“In the near term that benefits the acquiree, but in the long term if it is structured well, it will benefit the acquiror.”
Who are takeover targets in Australia?
Rule has a list of M&A targets he would prefer to keep proprietary, for obvious reasons.
But he does say to look for companies that are simply too cheap.
“Companies where the net present value of their cash flow, particularly where they have long life reserves, are substantially cheaper than their enterprise value,” he says.
“By my way of thinking, the plus $2bn to $10bn Australian gold mining industry – that market cap range – is universally too cheap.
“At current gold prices – not higher gold prices – these companies are all selling at prices that are as cheap as I have ever seen them in my career.
“I also believe that the gold price will go up, so I am attracted to both the numerator and denominator in that equation.”
From talking to industry execs worldwide, Rule knows that they are beginning to work up the courage to do M&A again.
The industry got pretty discouraged from doing that, for very good reason, in the decade 2000-2010, where so many aggressive acquisitions turned out to be disastrous for shareholders.
“But there is a circumstance now where the lack of investment, particularly in precious metals mining, for the last few years has meant that the surviving companies have to acquire, or they begin to shrink,” Rule says.
“They cannot explore and develop fast enough to maintain their current production. And the assets that they need to acquire are, in historical terms, extremely cheap.”
Its useful to have a look at the link below, and ask yourself, where does CEY fit in? Look at Evolution, Mkt Cap A$7.5 b, produces 680k ounces pa, profit after tax $345m, p/e 20.6 (and so on). Developing underground at Cowal, 2.55 gpt Au Resource grade, mining method?, ore continuity? (etc)...lots of risk in the pipeline....
https://stockhead.com.au/experts/universally-too-cheap-rick-rule-says-these-ma-focused-gold-miners-are-also-prime-takeover-targets/
CEY looks good to me
as does gold
best
the gnome
This is interesting:
"Some B2Gold Corp. (TSE:BTO) shareholders may be a little concerned to see that the Senior Vice President of Operations, William Lytle, recently sold a substantial CA$829k worth of stock at a price of CA$5.03 per share. That diminished their holding by a very significant 100%, which arguably implies a strong desire to reallocate capital."
https://simplywall.st/stocks/ca/materials/tsx-bto/b2gold-shares/news/trade-alert-the-senior-vice-president-of-operations-of-b2gol
https://www.b2gold.com/corporate/management/
My Thoughts:
This fella divested all his company shares. Why? Perhaps he's on the way out or perhaps he's reinvest in Centamin ? Pure speculation of course but whatever he's doing this is insider knowledge at work!
Also, the B2Gold LinkedIn post has 40 Executive Director interactions - by far the most of any.
https://www.linkedin.com/posts/don-lawson-98619370_gold-mining-mena-activity-6861428239311650816-_1WY
To me it simply says potentiall private Investors get your act sorted to save wasting our time. Mr Sawaris and others.
But I could be totally wrong.
Politics especially in Egypt ,take great care .
What is awarded can easily be taken away.
That is Centamins huge advantange, learn from history.
-The terms of protocol indicate that the EMRA has to coordinate and take initial approval from the EEAA before contracting or offering any bid for gold mine exploration
- the EEAA would be responsible for issuing environmental approvals within a maximum of 30 days for incoming requests that are in line with its standards.
- On this occasion, El Molla stressed the importance of the current coordination and cooperation between the two ministries in the environmental aspect of mining projects as well as the
optimal exploitation of mineral resources.
My Thoughts:
a maximum 30 day time frame is insanely fast for an environmental approval - hurray!
https://egyptoil-gas.com/news/emra-eeaa-sign-cooperation-protocol-for-environmental-approvals-in-mining-projects/
Implications:
- cut the time to issue tenders by introducing new mechanisms for how the government contracts with private businesses.
- Private-sector players will be able submit unsolicited proposals, while the government would also be allowed to negotiate directly with a sole bidder without needing to take the project through the competitive bidding process.
This should be helpful to Centamin (and others? like Sawiris) wishing to codevelop a project with a government owned enterprise i.e. Shalateen
https://www.masrawy.com/news/news_egypt/details/2021/11/15/2123341/%D9%85%D8%AC%D9%84%D8%B3-%D8%A7%D9%84%D9%86%D9%88%D8%A7%D8%A8-%D9%8A%D9%88%D8%A7%D9%81%D9%82-%D9%86%D9%87%D8%A7%D8%A6%D9%8A%D8%A7-%D8%B9%D9%84%D9%89-%D9%82%D8%A7%D9%86%D9%88%D9%86-%D9%85%D8%B4%D8%A7%D8%B1%D9%83%D8%A9-%D8%A7%D9%84%D9%82%D8%B7%D8%A7%D8%B9-%D8%A7%D9%84%D8%AE%D8%A7%D8%B5-%D9%81%D9%89-%D9%85%D8%B4%D8%B1%D9%88%D8%B9%D8%A7%D8%AA-%D8%A7%D9%84%D8%AF%D9%88%D9%84%D8%A9-
You are welcome Mr T
Regards
Thank you Candid & Sotolo for the explanation re dividend & exchange rates etc.