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Hi Dasut,
Thank you for pointing out my error, "In the early years" was part of a sentence uncompleted that I should have deleted!
Yes you are also correct again,I should have quoted the Group Resource and Reserve Statement presented on 19th November.
Kind Regards
Tibbs
Starting from 1 Jan 2004. * half a penny plus gap
25 October 2004 9.75p- 9.88p.
23 August 2005 12.5p 12.75p
3 July 2013 31.15p to 31.75p.*
23 December 2013 41.14p to 41.17p
28 March 2014 49.6p to 49.72p
25 Jan 2016 62.65p to 62.90p
3 Feb 2016 67.3p to 68.38p *
5 Feb 2016 70.2p to 70.3p
15 July 2022 74.42 to 75.26p *
27 Oct 2023 79.9p to 80.1p
17 Jan 2024 91.5 to 92.1p *
and the recent one I mentioned at 93.05p that opened above 94p *
In 20 years we have just 5 years with more than 0.5p gap in charts.
Tibbs As far as I am aware they didn't revise the quarterly report they revised the Group Resource and Reserve Statement presented on 19th November.
You must get your head around the reduction in grades in the open pit during the last quarter as an average impacted by them mining the below low cut off grade and classifying as ore and delivered to the "leach pad" rather than treating this as waste and dumping on the waste dump.
I am not sure what revised quarterly report you are talking about and where you are getting the open pit feed grade of between 1.0 and 1.2 in the early years.
A feed grade isn't an open pit or underground grade it is an average of both.
Regarding the question to close down the open pit and just mine the more lucrative underground. If they did this the number of tonnes through the plant would increase the costs involved in processing by uneconomic multiples and the reduction in ounces would make the mine totally uneconomical.
Hi Guys.
One of my friends asked if I had looked at Centamin because they cant seem make up their minds what they have in the ground?
Oh well seems that nothing has really changed with the share price then?
Cheers for now!
Pam
Wouldn't we all, but doubtful because their RNS Quarterly report update accuracy can't be relied upon it seems!
What else hasn't been reported accurately ?
I wonder if it will be three times the charm here as the stock has made two unsuccessful attempts at busting through and staying above 100p in the last couple of months
Would love a return to 120-125p
I get you Steve - charts, sentiment & a little patience, more often than not is effective for me. As you say, each to their own.
Hi M Henderson,
As you may be aware it seems in the past their plans had higher grades and lower strip ratios which proved wrong!
Also although denied by the company Andrew Pardey the 2015 original analysts modelling it showed the open pit to be very marginal and that was at higher grade and lower strip ratio.
I had written to Centamin IR after the initial and now corrected/revised quarterly report asking if it were commercially viable to keep operating the open pit and would it make financial sense just to close it and concentrate on the underground profitable operations ?
I received no reply from Centamin although by coincidence they issued a corrected quarterly report now showing the open pit feed grade varying between 1.0 and 1.2 g/r in the early years, which is a substantial improvement from current levels!
The original presentation avoided showing the forecast open pit grades as though they were only giving half the story for whatever reason?
Although on this revised quarterly update the grades appear improved should the grade quality deteriorate again or prove unreliable then the financial performance for 2025 - 2028 would likely be disappointing!
Tibbs
Making investment decisions on chart is nuts.
I've proved this so many times on this board.
Each to their own.
Agreed Tony. I’m out for a while, though I’m guessing not too long to wait.
Hi Tony,
Hardly surprising really, Shanta BOD are a shady crew, they have been fudging the facts about their operations for far too long!
91.5 to 92.0p No RNS
93.05p to 94.36p RNS released although not hugely significant.
Centamin has a strong record of back filling chart gaps over its trading history going back to 2013.
Gaps caused by RNS also back filled although sometimes over a longer time frame. We have gap lower than the published RNS.
I am not buying Centamin with such large gaps in the charts.
I recall a while ago Liberum posted a downgraded when others had the opposite and it did go down, then people posted here they were right, they know their stuff and so on. People will do this until they get it wrong and then they say they haven't a clue lol.
Why? The answer is simple- a stock can only go up or down so a 50% chance of being right or wrong.
This always makes me laugh, how people put so much sway in these people is bonkers- algos and AI algos don't yet daft humans do.
Liberum reputation on Shanta Gold board is in pieces.
Major European stock indexes traded mixed in the premarket session on Thursday as investors awaited the European Central Bank (ECB) statement from its latest monetary policy meeting, which should be released later in the day. In addition, the German Institute for Economic Research (Ifo) is expected to publish its report on business climate for January.
The DAX and the FTSE 100 were flat at 8:00 am CET. At the same time, the CAC 40 added 0.06%, and the Euro Stoxx 50 lost 0.08%.
The euro was up 0.06% against the dollar at 7:58 am CET, trading at $1.08959. The British pound gained 0.07% compared to the greenback, selling for $1.27251.
Baha Breaking News (BBN) / JJ
Gold currently $2015.24
I have no opinion on if Liberium are useless or not but they did call a contrarian lower price on Centamin (low 80's) a while back and in doing so were faced with derision but were proved to be correct.
Company asks Liberum CI what is one plus one. Liberum answer is what number would you like it to be. They are useless.
Futures trader likely sold off big time,or dumping !
Jim Wykoff Kitco
Liberum being Liberum Capital Investments.
Apologies if this has slready been posted but only just had time to sit down and read todays Times, in which it has a piece on Gold mining. Quote "Liberum also liked Centamin, which digs for the yellow metal in the deserts of Egypt. Production should increase this year, the analysts said, adding that the company should be able to afford a decent dividend in the future. That was enough to persuade investors and the shares perked up 4¾p, or 5.2 per cent, to 97¾p. "
I am not sure you are right about your topic.: Forward borrowing:
At the end of every fiscal year ,some ingots of ore not purified,do not make it out on time.
So are held in company vaults, or mid travel to be purified. So are held over, to the following year.
Hi Rebess,
On paper the improvement in grade is promising, but past history has shown that they overestimate selectivity of identifying ore from waste blocks!
The result was lower actual grade and lower strip (waste being allocated to ore).
In the latest presentation they show the open pit feed grade varying between 1.0 and 1.2 g/r in the early years, which is a substantial improvement from current levels. Let’s see, the proof is in the pudding!.
So the lift in miners today was down to the China's decision to cut their equivalent base rate by 0.5%. Apols if I missed this on here earlier but at least we now have a proper explanation for today's sudden boost and all the other miners too
Tony, I’m looking at sub 90p. It looks like it was heading there.
No doubt they will do what they do every year in that weighting will be on H2 to deliver FY forecast. - Back-end loading provides a lot of flexibility to navigate the year ahead. - So, it'll be interesting what the mix is this time around. - It's easy to cover for Q1-Q2 low-end production by bolstering in words Q3-Q4 output. - Usually Q3 is when they get found-out.