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Hi bobliz35,
I'll try adding to your arithmetic equation but don't hold me to the numbers as I'm not any more qualified!
18,800,000 tons x .46g = 8,648,000g
8,648,000g / 28.35 = 305,049 ounces
All this stockpiled ore would definitely be included in the reserve ounce total.
I suppose the point of my historical review was meant to illustrate the ability (or better yet optionality) that exists in utilizing Centamin's own load & haul equipment.
Given the stockpile grows by 30% annually it might have been possible (but maybe not preferable) to utilize that spare capacity to focus on the area Capital Drilling is under contract to remove.
Why this option wasn't chosen - and all the extra costs spared shareholders I cannot say - only that perhaps this was in anticipation of Capital's fleet also being used to work the satellites.
Although, even if this were to be the reason the plant cannot process any more ore than Centamin's own load & haul equipment currently handles - meaning any new satellite ore would just add to the excess.
Second guessing management's decisions over the years has turned out to be a fool's errand but what is certain is that Capital Drilling now has established a sizeable equipment presence in Egypt (and well on their way to paying off this new fleet)
Maybe this is Centamin's preferred way of training & weeding out future employees without directly hiring them and firing them? Maybe a processing plant expansion is coming sooner than we think?
Bottom Line: Capital's fleet will need something to do after they complete the 'transformational' Centamin contract. What that might be (and how it impacts Centamin shareholders' profit) for better or for worse is what concerns me. Cheers
Cowichan,
Rather late and following a rather good Pinot Noir. Apologies.
What evaluation of AISC would be attributed to extracting value from this stock pile. in your professional opinion.
Sorry to be a pain.
Bob
Cowichan
Following my errant and large thumb early post.
There are few on here I follow with conviction but you are one However we are not all blessed with your understanding of mining procedures et al I am loathe to interpret your exacting figures but are you saying that (I am probably totally misrepresenting your analysis that the reserve stockpile held by CEY represents 1,880,000 at average return at .46/t Au equivalent to 828,000 Oz's of gold.
More importantly to an area I am quite functional in is whether this is shown in the reserves or impacts on the balance sheet. I cannot find it in the accounts or in the reserves. Any views contrary on this board or to add.
Bob
Please explain your logic when the trade price is more than both uncrossing and considerably more than sells ?
Cowichan
There are few on here I follow with conviction but you are one !
I agree the chart and the late large trades eash day, that appear as buys but I think are sells, are slightly worrying
As you refer to Sotolos post, and post yourself in a very similar style your question should be addressed to that person.
Or perhaps you already know the answers to your questions ?
I will not give you any response to the questions.
In newly unlocked valuation for existing shareholders of the parent company (think Centamin's West Africa Assets) all in less than 12 months from the date of spin-out
Viatris (NASDAQ:VTRS)
GXO Logistics (NYSE:GXO)
Vimeo (NASDAQ:VMEO)
Cognyte Software (NASDAQ:CGNT)
Topicus.com (TOI:TSXV)
Apartment Income REIT (NYSE:AIRC)
I hope Centamin will (has) considered this method of unlocking shareholder value for some or all of its West African portfolio.
It is like someone said though , the delay in the payment of the dividend , isn't a problem, given that the share price continues to march down the hill again , which for people who are intending to reinvest the proceeds to buy more shares, is actually a blessing in disguise.
In fact if you look at a chart of the share price on a 6 month chart , you can see it resembles a downward moving escalator , since May,when it was at £1.215
Unfortunately the trend is still downwards, with a pattern of lower highs and lower lows, and with no visible signs of reversing .
We really need to see the 3rd quarter release, due later in the month, to contain positive news in terms of production, or the trend will continue downwards ?
As worrying , is the gold price . My concern is that , as someone said on here , they fear that the price of gold could be on a multi year downwards price trend ..if so , that would be a disaster for current share holders
I would like to hear from long term share-holders of Centamin ; when did they enter the share and at what price, and how long they are intending to hold the share for. Do they have an exit share price in mind, or are they planning on holding the shares forever, because they believe that in the longer term the share will continue to rise .. If so , why do you think that ?
If the gold price falls below the AISC, ( currently about $1150 - $1200 ) the company will be making a loss
Views please ?
Thanks Giantsquid for bothering to post the Kitco link.
As you seem to have only posted here twice I’m guessing you’re not a holder, either way thank you for shearing the info.
I took the liberty if you didn’t mind of reposting the link you shared on September 25th
The current price is showing at $1760 which is being quoted as off by .5% strange the price was $1760 this time yesterday.
Thanks again…
The 2nd link . The reason I’m posting is both suggest gold won’t continue downward but will trade between $1700 & $1800 before staging an upward trend.
Ty again
https://www.kitco.com/news/2021-09-24/The-real-gold-price-test-is-coming-next-week-analysts.html
I still haven't received divi yet either.
I am going to ask them for an official audit trail from when they received the dividend , when they exchanged my money into £ and when they intend to pay it into my account .
Not Barclays but my dividend only arrived in my IG account late yesterday afternoon. I like IG or I'd just be going elsewhere. Invested it in more cey this afternoon, if that's the correct terminology (sic).
More suppliers could go bust in future
Martin's warning comes as six energy providers have gone bust this month - Avro Energy, Green, PFP Energy, MoneyPlus Energy, Utility Point and People's Energy - and these might not be the last. He said: "Some business experts have said up to 25 more firms will go under, some of them with millions of customers.
"This isn’t about small firms, it's about mid to big ones too. There may only be 10 or less energy firms left if the wholesale gas rate doesn’t drop quite soon. So get your screen grabs and do it every week while we’re still in the midst of this crisis."https://www.moneysavingexpert.com/news/2021/09/martin-lewis--screen-grab-your-energy-account-before-the-firm-go/?utm_source=CEC_subscribers&utm_medium=Email&utm_campaign=massCEC_Oct21&utm_content=NewsArticle
Centamin now has over one and a half year's worth of ore on the stockpile (as the mill processes around 12 Mt/year )
Q2 2021 increased to 18.8Mt at 0.46g/t Au average grade
Q4 2020 increased to 17.4Mt at 0.47g/t Au
Q2 2020 increased to 15.8Mt at 0.47g/t Au
Q4 2019 increased to 13.8Mt at 0.46g/t Au
Q2 2019 increased to 12.3Mt at 0.45g/t Au
Q3 2018 increased to 10.13Mt at 0.47g/t Au
So the decision to drill out the greater Sukari concession to stockpile some higher grade is timely — as they're currently amassing 30% more ore than processed each year.
On the other hand one could argue with that much spare blast & haul capacity the Capital
Drilling contract to expedite the trouble area overburden has more to do with future plans (than current needs?)
Cover just arrived… oh well, you get what you pay for… Vomit!!!
*Cey divi arrived yesterday.
Ajbell is always on the day stated.
I have not received divi either and have lodged a complaint.
The person did not appear surprised,seem pressure is the only way to change this arrogant interest grabbing, I am sick of Barclays .
Got mine today from 212
just got off chat with jokers at 212 cuz i aint got me divi yet to was told same cant take upto 10 days due to accounting reasons
I called them today and said it may take 10 working days ! No reason was given. I have raised an official complaint. Can someone suggest a broker with their experience?
Payment Date: 30 September 2021
Is anyone received dividend from Barclays I haven't received yet
Major stock indexes in Europe traded in the green on Tuesday premarket as investors waited for today's batch of economic data. Eurogroup President stated that the Eurozone inflation should start to fall next year.
The FTSE 100 was up 0.39% at 7:52 am CET, while the DAX gained 0.28% at the same time. The CAC 40 rose 0.26%
The euro and the pound lost 0.25 and 0.16% against the greenback at 7:53 am CET, changing hands for $1.15913 and $1.35875 respectively.
Breaking the News / MD
Yes, thanks ...a great succinct read. The book is at
https://www.amazon.com.au/Basic-Laws-Human-Stupidity-International/dp/0753554836
The book inspired some readers to call for the guillotine to be bought back into vogue, which maynot have been the objective of the book!
Stupidity coupled with bullsh?t is a dangerous combination ... and the cause of much mirth ...
Anyhow, everyone sees bull****, listens to it, and reads it, every single day.
[and of course now its on line, and one can also go to sleep listening to it..etc, one can even dance to it?
https://www.youtube.com/watch?v=A1NN2vv2PsI ]
At the same time, each of us is guilty of generating it, thinking it, mulling it, and
speaking it aloud. We are all morons from time to time, spouting nonsense as
we go about our lives, without any real consequences. The crucial thing is to
be aware of it and to feel sorry about it; because to err is human, and
admitting your faults is halfway to having them forgiven. There will always
be those who take us for fools, but we recognize our own folly far too rarely.
Apart from the perpetual purr of idiocy that surrounds us, day in, day out,
there’s also, sadly, the roar of the masters of stupidity, kings of stupidity—
*******s with a capital A. Those *******s, whether you encounter them at
work or at home, do not strike you as anecdotal. They hound you and harass
you with their obstinacy in crass wrongheadedness, their unjustified
arrogance...
“Good sense is the most equitably distributed thing in the world,” wrote
Descartes. And what about stupidity?
Rumor has it that we ourselves are the source of it. I am no exception.
My father was very fond of poetry, and could quote pages of it, off by heart, and every now and again he would break out
with little quote below ... and I would cry laughing.
“All the world is queer save thee and me, and even thou art a little queer.”
The social reformer Robert Owen (1771-1858) is supposed to have said this in 1828 to his business partner William Allen. They had both been involved in setting up the model industrial community New Lanark...
and rest is history.
My grandmother (an indomitable soul), used to say the stupid sleep soundly in these times (year after year).
Turned me into a wilful insomniac?
good luck all
the gnome