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My 2 cents worth. - Agree with Gnome's use of words - a 'Steady as she goes' Q3 report. - No negative shocks as in previous Q3's - thank the Lord for that. - Thanks Mr Tibbs for Kees Decker response, for me at least, that is reassuring. - One big plus I feel is the new Nugrus concession can use Sukari facilities for processing. - That for me is a 'BIG DEAL'. - Potential for significant capex savings and an enhancement to Sukari output. - This appears not to have been picked-up by the market as yet. - Finally, I note that the Umrus concession has replaced the previously awarded Samyoky block. - There's been some back-door dealing on this one I feel, I wonder who with? - I'll leave Cowichan to perform the forensics here, but there may be some significance in this. - December 1st now looms large as an important date in the calendar. - Let's hope it turns out to be as important as December 25th is to all of us.
Hi Dasut,
Thank you for your informed and valued opinion, as you point out a great achievement by those on the ground!
SP could just be reacting to the movement in the gold price , which marched up the hill overnight and is marching back down again . The SP will go back up again I think , when the full contents of the Q3 report have been digested .
Thanks Mr T and Dasut ...
Yes it does help my understanding. Thank you
Tibbs agree with Kees and doff my cap to Horgan as if his recent trip is his first in a long time the management by wire has in my opinion been very successful, in what looks to be getting the mine on track.
I must also congratulate the boots on the ground as they sound as though they are doing an exceptional job, there aren't many companies around the world that haven't been effected by the pandemic in some way.
If the employment of Capitol costs on average $2 per tonne moved for the duration of the contract it is a worthwhile necessary evil. To get back into the Phase 4 workings, West wall and bolster grades is a bonus and a necessary bonus to actually turn a profit this last quarter.
All in all an acceptable set of numbers and impressive material moved only wish it was ore rather than a very heavy bias towards waste which is as I say a necessary evil but in the long term with careful management should come out the other side with a far better structured resource.
Looking forward to 1st December and think Horgan is ready to "hit it out of the park".
Just the usual sell on the news reaction..
Hi Candid,
Kees Dekker's thoughts on today's Q3 report,
This was flagged by the company: short term pain for longer term gain. Higher stripping to correct the pit wall slippage and give access to higher grade open pit material. It seems they are accessing the higher grade now!
Hope that helps Candid?
Tibbs
You are right to be cynical though ...they borrow shares that they don't own , sell them on the market , spread malicious rumours about the company , wait for the share price to fall , and then buy them back again at a profit and hand the shares back to the lender, (complicit fund manager ) some observers suspect , a friend of theirs..?? ..
The immoral part about it, are that these shares belong to innocent investors held in pension funds etc ..I think the practice should be stopped
I have though commented on a previous thread about looking at what the value of the shorts outstanding are, as it pays heed to know .
Yes very unloved share for some reason
Pathetic response. Gold price up, production up (and better than expected) and sp flat….
What a dog.
Cover drive for 4 ? Not if James Anderson is bowling...
Yes that's correct , but the good news about the bleak quarter on quarter comparisons with last year , is that they have now come to an end at last .
Production during the 4rh quarter last year was only 69,000 ounces , so the 4th quarter production figures this year should bring huge cheer .. Also going forward into 2022 the bleak comparisons to previous year (ie current year)) will cease (all other things remaining equal ) because the resetting of production levels will then be one year old .
There is still one bleak comparison yet to be declared , which will be the final year end results.
Thereafter, hopefully , things should improve and be reflected in the share price going forward .
Mr Gnome--that made me smile " I suspect they might play the cover drive in Dec 1."
In cricketing terms, I think Martin Hogan has seen off a pretty hostile opening spell, while managing to keep the scoreboard ticking over. A cover drive might be nice but a forward push past the bowler that trickles over the ropes is still 4 runs.
Id be quite happy for him to send for another pair of gloves :-)
Hi Mr T....yes you are probably right .. patience has never been my strong point.
(Reuters) -Centamin Plc expects annual gold production at the midpoint of its previously forecasted range, the gold miner said on Tuesday, after reporting a rise in quarterly gold output driven by higher grades of mined ores.
Centamin, which operates the Sukari gold mine in Egypt, said it was aiming to produce 415,000 ounces (oz) in 2021, the midpoint of its projected range of 400,000-430,000 oz.
Third-quarter gold production at 103,546 ounces was, however, 19% lower from last year, largely due to a planned cut in production at Sukari.
https://uk.finance.yahoo.com/news/centamins-sees-annual-gold-production-064153497.html
Nails on the head, Nails on the head, as usual for you Mr Gnome!
Hi Candid,
Thank you for your initial and valued analysis of the Q3 results.
We are where we are because of the impatience of previous CEO's to impress the market with exaggerated guidance predictions leading to operational corner cutting in their desperation to try and deliver on their predictions.
As you are a relatively new holder I can understand your disappointment to some extent, but I'm certain that long term holders will be relieved and reassured by this quarters results .
Liberum's agenda is simple
x% cut on any buy (other peoples money) they make
x% cut on any sell
doesnt matter a lot if it goes up or down, but sometimes the brokers recomend to sell what they want to buy and on the game goes.
so a cynical man like me might think they have got set after shaking the tree with their 82p, and now they will recomend a higher price, and on the circus goes...
Solid report. Solid mngt, steady hands, steady ship. Building trust. Get one's eye in, so to speak.
Good lot of exploration ground,
I suspect they might play the cover drive in Dec 1.
best
the gnome.
One fund manager will tell you that it is going to be a sunny day , so put on some suncream ..another will tell you that rain clouds are approaching so take an umbrella out with you
We know something about weather forecasters ..they have a habit of being right 50% of the time (maybe a little harsh )
So where does that leave us with fund manager predictions ? I read them in the same way as I read my horoscope for the day. Read into them what you will .
My first impressions with 3rd quarter results ..
...a little disappointed that production wasn't a little bit higher (approaching 110,000 oz which has increased marginal cash cost and AISC up slightly
...good news re Egptian exploration and bid round terms signed and finalised securing 3000 Kms of highly prospective Greenfield landholding within Nubian shield...these kinds of agreements tend to attract last minute snags and hurdles , so the fact that it didn't is to me, hugely positive..I don't think that the significance of this has yet been reflected in the share price
..lastly gold price increases by 1 % overnight. .I can't see that this has been reflected anywhere in the current share price
Initial conclusion .. good update overall. .although .slightly disappointed that production wasn't higher. .the under pinning works are more progressed now..shouldn't that have led to higher production by now or am I being too impatient ?
All things considered though , I think that once the market has digested all the contents in the report, the share price should rise further .but only a fool tries to second guess market reactions, so I am keeping an open mind
Liberium are working to an agenda, their views seem to differ depending on the client.
Centamin on track after 'solid' Q3
(Sharecast News) - Centamin said it was on track to meet its guidance for 2021 after a "solid" third quarter of operations.
The FTSE 250 gold miner said gold production was slightly ahead of schedule in the three months to the end of September at 103,546 oz, taking production in the first nine months of 2021 to 307,821 ounces.
Revenue rose 3% to $182.9m from gold sales of 103,514 oz at an average price of $1,764 per oz, down 3% from a year earlier. Gold sales rose 6%, offsetting the lower price.
Cash costs fell 4% to $846 per oz and adjusted free cash flow was $6.9m - unchanged and ahead of budget. Centamin stuck to its annual production guidance of 400,000 to 430,000 with a midpoint target and costs guidance of $800-900 per oz produced. Exploration spending will be about $17m, the company said.
Chief Executive Martin Horgan said: "This quarter marked another period of solid operational delivery. We entered the final quarter in a good position and remain firmly on track to meet our stated guidance for 2021."
:)
Ignore them just look at he RNS
What garbage will they come out with today after these results...reiterate a sell at 82p ?