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CEY and POLY seemed under attack from 11:03
@@Rich62
your comments haven't age well
CEY just dropped 1.5%
On a positive note, its not falling (yet!) like other gold supplier POLY (down 1.8%), despite gold being up slightly at $1754/oz
It shot to 96.84 quickly then dropped a little to where we seem to be now.
Checked on another site and can see real-time trades going through.
Time 10:56:52 BUY 602shares - ~3.117m buy trades and ~1.243m sell trades so far today.
I'm no expert but from the chart it looks like the price is meeting resistance around 96 to it needs more volume of buys to break through. If any chartists on here can advise?
Tight spread normally means share is about to rise....
I just sold 10 shares and bought 10 shares back (only pay £6 a trade so just thought I'd try it). Both transactions went through OK- anyone on here shed any light on what this could be?
Just seems odd as some are pointing out too.
It certainly is
very weird...
The Ask is 96 and Bid is 95.98. I've never seen a spread this tight before.
Sorry, I'm not a professional trader. Does anyone know what this means???
Cheers
No idea- I can see this on other places I look too.
Hi Dasut,
Absolutely, nails on the head!, nails on the head!, right and right again!
From a recent conversion I had with a very well informed person I can only agree entirely with your understanding and summing up of the Sukari situation.
Martin regards restoring Sukari to full performance as a priority !
Centamin now has the CEO it deserves to achieve its full potential!
I agree Dasut. We all want to make some money here, but we dont want lives risked any more than the usual mining risks.
Heres hoping that the "muck shifting exercise" goes well and then production increases to pre "wall" and beyond levels.
It does look like Martin Horgan has made some tough calls and not made too much of a fuss about them. I dont know anything about gold mining, but I suppose as with most things, if you get the basics right then things should be easier and better later on.
I've never seen a minute chart so flat. What's happening. Volumes increased a lot but the line is perfectly flat for the last 17 minutes... No bars at all. Is this just me seeing this on TradingView
bleary-eyed sorry not what I heard the west wall was rightly closed at the time because as he said there was movement with 2/3 benches of waste above the higher grade ore.
As he said this isn't normally a major issue as it is a common occurrence when mining and normally easily sorted out.
I would suggest having to issue a guidance notice would have been made through gritted teeth when he understood such a normal circumstance had such a major impact on production because they had no alternative areas that could be worked in the short term.
As for risk taking in mining not for me as risks in mining are dangerous and if they hadn't shut down the west wall the consequences could have been far worse.
What is unusual is bringing in a contractor for what I would call a "muck shifting" exercise to move a massive amount of waste and this was a major costly gutsy decision and made very quickly and a decision that hurts the SP in the short term but I would suggest will put Sukari back on track to hitting targets.
Price inching back up, finally back in profit after a few weeks in the red.
Markets liking the presentation, just need pog to hit 1800 again
But does it taste good ?
Its usefulness is derived from a diversity of special properties. Gold conducts electricity, does not tarnish, is very easy to work, can be drawn into wire, can be hammered into thin sheets, alloys with many other metals, can be melted and cast into highly detailed shapes, has a wonderful color and a brilliant luster.
Equities in Europe traded lower in the premarket on Friday ahead of Germany, the European Union, and the United Kingdom's latest reports on their manufacturing sectors. Germany will also post its latest results in retail sales, while the bloc will do the same for consumer prices.
Earlier, Brussels halted its trade negotiations with Australia due to the rift between Canberra and France over the terms of the so-called AUKUS deal. Across the pond, the United States Senate failed to reach an agreement on the social spending package.
The DAX sank by 1.09% at 7:04 am CET. At the same time, the FTSE 100 declined by 0.86%. The CAC 40 fell by 0.97%.
The euro stood flat against the dollar at 7:08 am CET, going for $1.15789. A minute later, the pound sterling lost 0.14% to the greenback to sell for $1.34555.
Breaking the News / JR
Happy Friday y’al
Razors.. my take was different. He explained that the $300 million was split between $100 million rainy day money , the remainder set aside for capex and exploration expenditure , which would result in the cash reserves reducing to c $200 million ..
The dividend policy would remain in place and would be funded from operating cash flow from profits in that year. .
He maintained that the company could make dividend payments plus finance capex too...in other words he was implying that they could have their cake and eat it.
He then hinted that as surplus cash built up , it might be feasible to engage in M&A activity .which lit up my eyes, but then he went on to explain that as things stood there were few other opportunities around which might interest Centamin ... He did point out that the company would essentially remain a gold mining company . He also hinted that if the cash remaining exceeded what was perceivably required , then the extra cash would be returned to shareholders.
Jack be nimble, we should all consider the fact that gold has bugger all utility value, many **** off crypto for the similar reasons but fail to apply the same critical thought to gold simply because it is accepted, it was accepted that the world was flat for a long time, doesn’t make it true.
This stock is undervalued now so a good buying opportunity but don’t hold too long, the world changes & if the human race manages to survive for too much longer (undeservably) gold will become a relic.
Just a thought & probably won’t happen in our lifetimes but stranger things have happened so be cautious before betting the farm :)
Good returns to all
Bleary..the new CEO knows how markets work. Under promise and over deliver. "It's the way you tell it'. you can sell the under promise part as being prudent, cautious but achievable and then the subsequent over delivery part can be hailed a success , and the share price takes off
It always works .. you only need to look at the rapid fall of the share price , when the reverse happened last year
For those wanting to see one of the most exciting GOLD DISCOVERIES OF THE LAST 10+YEARS...(very few of these!)
https://www.youtube.com/watch?v=2iikY6964Eo&t=74s
https://www.investi.com.au/api/announcements/pdi/fd77fa78-685.pdf
Predictive Discoveries finally comes through, and what a fabulous ore system, and my bet is the system will grow past the magic 5 million ounces...!!! Ahead of myself, but the aroma's are very positive and a maiden resource of 3.65 m ozs,, in 17 months in these times in Guinea defies imagination, although the Geology has always been very good ....
best
the Gnome
I think the CEO is clearly a risk taker, however he does like to understand and quantify the risks before jumping in. I have no problems with that. One of the big negatives in the gold industry is the propensity of many of the MD's/CEO's, to jump in boots and all (using shareholdereds money and script), bid assets up, jump before measuring...etc
Some highlights form the last few decades ...
> significant impairments totaling USD 129 billion since 2011, as fallout of the previous MandA
> gold reserves have declined by approximately 26 percent to 713 MOZ, due in part to an approximate 70 percent
reduction in exploration expenditure as companies sought to preserve cash.
> the average price paid per ounce reserve in the period was often more than 300 percent higher than deals
executed a decade earlier
> 70 percent reduction in exploration expenditure as companies sought to preserve cash, and drive down the AISC
(so short term gain for long term loss)
> what money that has been spent on exploration has come up virtually dry of new tier one discoveries (and here lies another sleeping giant - all the low hanging fruit has been picked over, at least once!)...maybe 5 discoveries of 5+ M Ozs since 2005...and it looks like DOROPO IS ONE OF THEM!
This raises the uncomfortable prospect of a looming reserve crisis.
https://www2.deloitte.com/za/en/insights/industry/mining-and-metals/tracking-the-trends/2021/mining-mergers-and-acquisitions.html
No growth? I doubt it, perhaps listen more carefully to the presentation and consider history of the gold mining and exploration industry. The last thing the company needs is a risky CEO..they have been there and done that!! Learn and move onwards and upwards.
best
the Gnome
He said sub $200, but the thing that I picked up from the presentation was that the west wall movement was in fact only the potential for movement in the future, so the higher grade wall was closed down more on a whim. It seams that our new CEO cannot be concidered a risk taker so I do not see the company advancing strongly or quickly