Charles Jillings, CEO of Utilico, energized by strong economic momentum across Latin America. Watch the video here.
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Thank you Razor's ,
Fingers crossed that this happens, even better with a high POG and with a decent reduction in AISC would be even better!
Tibbs
Major stock market indexes in Europe traded higher on Tuesday's premarket ahead of the Eurozone consumer confidence data scheduled to be revealed in the coming hours. Investors also awaited the latest lending survey report of the European Central Bank which should give more information on bank lending conditions in the area.
The DAX gained 0.18% at 8:01 am CET, while the CAC 40 added 0.05%, and the FTSE 100 increased 0.30%. The pan-European Euro Stoxx 50 rose 0.13%.
The euro and the British pound improved by 0.27% and 0.30% against the dollar at 7:58 am CET, selling for $1.09136 and $1.27461 at the same time.
Baha Breaking News (BBN) / DD
Gold currently + .75 $2036.21
Shall have to clean my keyboard,I am actually a good speller, ,magnaminus, ;- )
Thank you Mr Tibbles ,for a maggnacious response.
Hi Alhamd,
Good to hear from you and we are all hoping that your prophecy for Centamin for the future comes true yet again!
Kind Regards
Tibbs
Well said Mr Bond,
As we all know it is'nt the dollar that's strong at all considering the US national debt, if it wasn't for the dollar being the worlds reserve currency it would be almost junk status, the real strength lies with the FED cartel because to them the truth is whatever they want it to be and they really don't care a fig because they have the power to pump up or squish what ever commodity or currency they choose!
(Kitco News) - Gold prices are being held back by the strong U.S. dollar, while weak physical demand for silver could be offset by the return of investment demand, according to the latest precious metals report from analysts at Heraeus.
https://www.kitco.com/news/article/2024-01-22/gold-prices-restrained-dollar-strength-silver-investment-demand-could
Another year for success is waiting , all who trust in Him will be rewarded
Sukhari is the mine of great happening , gold is the only true method of trade for many centuries , as believers here say
waiting for rich news here , all hope is good hope , thanks to Allah he will faithfull provide
This week according to Kitco reports is they they dont have a clue.
Thats anylists for you !f
Clueless ,but it keeps down Spot prices for Gold ,this shows the power , for now. Of the US traders.
The Brokers are happy with all this in and out ,more commissions, ;- )
Under this pressure Gold has done very well . As for CEY SP, maybe final yearly report will finally inspire .
I have copied you this time.
Https://www.marketwatch.com/economy-politics/calendar
Thurs key day this week and then Friday which is even more key.
Did expect a bigger gain on Thurs RNS- but this is why I trade it- not many RNS in a year but shed loads of data movements points...
Yes.
Waiting for the next key data.
As you know I use S/L and T/P to trade and follow my trading strategy.
Steve
Have you closed out your trade on Centamin?
Tony
Stock equities in Europe traded higher in the premarket hours on Monday with European Union foreign ministers expected to convene a meeting addressing the crisis in Ukraine and the Middle East.
European Union's High Representative for Foreign Affairs and Security Policy Josep Borrell is expected to present his peace proposal for ending the war in Gaza. The week will be marked by earnings releases around the world, with consumer confidence data for Europe to be released on January 23.
The Euro Stoxx 50 climbed 0.68% at 8:01 am CET. The CAC 40 added 0.18%. The DAX rose 0.19%. The FTSE 100 gained 0.24%. The euro traded 0.06% higher against the dollar, changing hands at 1.09013. Meanwhile, the pound sterling was flat compared to the greenback, selling at 1.27072.
Baha Breaking News (BBN) / AB
Happy Monday y’al
Gold $2021.39
Tibbs, Pardey is history forget about him you can't change history .
What I suggest you do is go to the Centamin web site, Assets, Sukari and then click on the 2023 Technical Report. OK it is what it says a very technical summary but have a scan through it and look at the various diagrams and you will see that the area called Cleopatra is included in the projected pit and I think but don't know but this could be incorporated in the area that Capital have been opening up.
Excellent news Razor's , it;s about time some of these crooked CEO buggers were made to pay back for their past underhand and in many cases deceitful behaviour!
For far too long deception and crookery have been seen as to be almost just part of the course in the markets and and that deception of shareholders, lying to the media and in in some cases assert stripping businesses and thieving money out of the company workers pension funds is just business, no it's time to start taking back what they haven't earned honestly and locking a few of the buggers up!
I think some of Centamins past senior management should have to pay back some of their unjustified bonuses and rearwards in compensation for not being truthful in the past and creating such a f*ck up at Sukari!
Remember this former Rover employees do and they weren't alone in having their pension stolen by thieving CEO's and other fund directors!
Nick Mathiason explains how deals with private equity links are accused of leading to the downfall of pension schemes
Sun 10 Jun 2007 00.07 BST
Can workers in 21st-century Britain have their pensions stolen from under their noses? This is exactly what the GMB union says has happened to hundreds of thousands of employees of companies that collapsed after being bought by private equity firms.
https://www.theguardian.com/business/2007/jun/10/privateequity.statepensions
Tibbs
Mr Tibbles ,its not the whole market .
Just the Traders.
The mine is supporting a huge bill for clearing waste. When that soon finishes, then you will find,the profit rises by an equal amout . The processing of low grade is maximising profit,because the leeching if their is more capacity costs nothing extra.
Maximising profit is to be applauded.
HI Mr Bond,
Making a profit is fine, although the market doesn't seem that convinced about how its being achieved because without the present reasonable gold price the cost of the open pit would unmanageable for very long.
You r opion is as always gretaly appreciated Dasut,
Do you recall how the many times Andrew Pardey and others reported almost every quarter the great promise offered by the Cleopatra slope, how many millions spent over how many many years moving piles of muck , I wonder Cleopatra is never really mentioned-now, what happened did it just melt away or was it just buried under the pile of Pardey's uncleared crap?
Tibbs
Tibbs Sukari open pit is no different to any other open pit the grades vary across the mine it is the nature of geology. It is always going to be the case that underground will possess higher grades but underground mining is expensive and volumes lower as the ore is in narrower veins again it is the structure of geology. Open pit is normally all about volume because that is the nature of how the ore is dispersed.
Without the open pit the underground isn't viable and the open pit will struggle now without the underground.
Seems you are the only one ,unable to accept the reality of making a profit.
It seems though that some are unable to accept that after over eight years it is ever more apparent that unless the grades of the Sukari open pit improve considerably then it is providing little or no commercial viability to the company and might well be regarded rather as some charitable trust that is just about breaking even, although admittedly providing some support for the Egyptian economy and employment for the Egyptian workforce.
But that said if it is to be accepted that the Sukari open pit isn’t contributing, or ever likely to contribute any profits, but will be kept running for other possibly political reasons then it is essential to continue to concentrate on and maximise output from the underground operations, as we are well aware this was something which Andrew Pardey and the previous management always refused to admit and preferred instead to try and gloss over the reality by high grading and hoping that things might come right in the end, possibly this was because they lacked the appropriate expertise in underground mining which I am told isn’t normally common practice in Egypt?
The reply and link to a technical article on grades below from Gnome to Dasut, I am somewhat puzzled by the arguments expressed by the author as I was always of the impression that the quality of the grades are paramount and are one of the main reasons to decide if mining in a particular area can ever be commercially viable?
Quite so Dasut,
These may well all be valid comments., but the fact of the matter is that with such grade the open pit operation makes very little cash flow. at best!
Rebess hit the nail on the head when he stated "Barely a grain of rice amongst a ton of rock!"
This seems to be basket case mining, if you consider, the environmental emissions how much diesel is used , wear and tear on plant and all the other associated cost's shifting thousand of tons of years worths of spoil and other associated crap to little more than break even!!
Pardey was well aware of he poor grades in the open pit in 2015 and in 2018 although he and the previous management denied just how crucial the better quality grades of underground workings were to the Sukari mines commercial viability and just carried on high grading resulting in huge ;piles of poor quality ore which instead of being cleared away was allowed to accumulate so making access and egress to the underground workings more difficult rather than concentrating on improving and developing the access and egress to the underground workings.
I don't need to remind you that Pardey was responsible for overseeing Barminco the specialist underground drilling contractor who allowed the sole LHDR to be run on its limits until it finally suffered a severe breakdown for which the contactor Barninco had no contingency plan or spare parts available to repair it, this period of LHDR breakdown and the loss of production made very apparent the importance of the underground workings ,although again at the time Pardey played this down claiming that "There were some spare parts issues!"
Admittedly the LHDR was eventually repaired and an additional LHDR was purchased by Centamin
But nothing else really changed, the waste ore was still allowed to accumulate without any clearance plan being put in place.
I’m not sure I’m following the nay sayers logic here.
Horgan stated in the Q4 presentation that they were stripping the north side of the pit. The top layer from that area is often/always just simply waste. In this case they saw some low levels of gold ore. They decided to put this to the leech pad to recover what bit there was. Normally this would have just gone to the waste pile and contributed nothing further down the timeline. He didn’t give any numbers for anything so it’s not possible to be numerate. But I would assume Horgan is not an idiot and would not adopt a busy fools policy as has been suggested. It would seem this “extra” gold can be considered as contribution business at least and marginally accretive at best.
If Horgan has reported an accurate reason for the high strip ratio and lower g/t, whilst increasing the gold produced at no real cost what’s the problem.
We look to have turned the corner over the past few years. Capitals accelerated stripping program is due to end before Q3 starts. Gold is hanging in above/> $2000. I’m not breaking out the golden flip flops yet but I’m at least a bit more optimistic we are getting there sometime soon.
Tibbs, Like any business it develops if it is to be successful and the open pit has been and will continue to be essential to the development at Sukari. The underground workings has been paid for by the revenue from the open pit and now the higher grades from underground add support to the open pit.
This is what the mine plans were all about from the start it is all about the grades and blend at the time of processing this is why they pretty much had to get into the underground early.