George Frangeskides, Chairman at ALBA, explains why the Pilbara Lithium option ‘was too good to miss’. Watch the video here.
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The presentation was at the upper levels of presentations that I have seen by a major gold mining company. IN fact any company. I have no seen the entire session, but viewed the pdf, and the last 15 minutes.
My read of the Resource and Reserve figures are such that I would be surprised if there is not 20 more years of mining within the Sukari license. They are right to resource this properly on the mining lease and the work presented was solid, and their approach is what is required. The Geology is compelling, and very well presented. The first slide is somewhat hard to get past, rarely see gold like that, but when you do think money.
So from a high flying point of view, they appear to have the people, the ground, the money, the right processes and the right managment people and processes.
All looks very good. Will view more later
the Gnome
PS. Be great to see some fo the other companies open up like this. Barricks and B2 presentations are not up to scratch w.r.t Geology.
Yes Donald but it is history.
The SP will not change úntil the production improves as simple as that.
So settle down everyone, for Q4 figures.
It is difficult ,even for me.
After years of crap news.
Very kind words!
I know I've been a squeaky wheel - perhaps a little too long. Glad to put the Burkina era behind us.
Although, there is still the matter of who will buy Batie... or codevelop Batie.. or ?? But I'm done asking - as MrBond said last week, Mr Horgan has more important matters to contend with than second guessing what, why or how the Burkina portfolio fell apart.
Hi Cowichan,
You are owed the gratitude of all Centamin share holders for finally getting straight answers to some of the questions you have been politely asking for a number of years now.
That said I thought your acknowledgement and thanks in your opening statement regarding the efforts of Alexandra Barter-Carse to put your questions before Martin Horgan CEO was very noble of you, although also very typical of the Canadian chap some of us have come to hold in such high regard.
You were already ware of my opinion of Martin Horgan, but I'm very glad that you are now more aware of the type of chap we now have as CEO!
Big respect to you Razors!
I dont think it was a difficult question because MH would have know that this question was not going away and it was prior to his time so not his ****e to deal with. This may even give MH and the newish Chair ammunition to make further changes for transparency
What is difficult is having to advise of the shannigans and in reality some people have trousered millions.
I think the next area it leads onto are these individuals still linked to CEY-this stinks.
If so they need to go unless there is over riding compelling reason to keep them mmm
Well done Cowichan
There should be representative this board sitting on the CEY committee and of course shows just how inept the board have been over a long period. Sorry about my little rant.
The positive I hope it looks like we have a decent CEO that should finally turn around CEY
I agree Mr T ..I understood Dasuts comments too. I like simple analogies being used to explain complex issues.
She asked a VERY difficult question of Mr Horgan and it DID get answered. (Fast forward to about the 50 minute mark of the presentation to watch.)
Takeaways:
- The Wadaradoo & Napelapara deposits in Burkina Faso which are said to contain >1.4 million ounces of gold, the core samples, the data/logs and all the discovery work Centamin accomplished PRIOR to Mr Horgan's arrival have all gone to Altair Resources
- The three unnamed arms length individuals (and the mysterious finders fee man) stand to make tens of millions for facilitating the sale to Altair Resources. The ongoing concern I have is those directors still employed with Centamin who allowed this uncontested forfeit of assets. Yes, Andrew Pardey, Mark Morcombe and a few others were removed - but is the quality & integrity of any of our remaining directors an issue?
- Mr Horgan has surrounded himself with trusted experts he's worked with in the past and I'm thankful for it.
- Burkina Faso seems like a country we DO NOT WANT to do business in considering the way they've treated Centamin. What country awards charlatans the rights to potentially billions in asset value at the drop of a hat? I say good riddance Burkina Faso 'land of honest men' my *ss
- Centamin's exploration plan now underway in Egypt is far beyond what I estimated - the scope wider and more technically advanced than I understood - I'm excited to see the results
- All in all a very detailed presentation - I saw that candidinvestor was curious about life of mine projections - as I see it management now has the goal of drilling out and proving the underground mine life to equal that of the open pit i.e. the open pit is around ten years and the underground was historically only a year ( not due to a lack of gold resources but as they say a lack of drilling data )
- loads more can be said - but I'll wait for goldgnome or dasut and the rest of the experts to chime in
In one lot MrBond, now I’m looking forward to the dividend!
Razor did you mean you bought 4.5 million today. :-)
Sold: 2.3m
Bought: 4.5m
————————-
There are those who’ll tell you volume comparisons are pointless but I still like seeing the buys outstrip the sells.
Have been getting in and out of this for the past 12 months and have made over 15% so far on this down trend (never shorted it though). I must admit it's time consuming and could have easily backfired. After today I'm considering to just hold as the downside should be quite minimal now.
Exciting times? Does not look very exciting to me
Seeking Alpha cont 23 09 2021
Yesterday "we learned a bit more about the extremely deliberate evolution at the Fed, which now seems to be moving similarly to some other developed market central banks (Bank of Canada, Bank of Korea and the Bank of England) to take the first steps toward normalizing policy in the wake of the pandemic," Rieder adds.
Stock rise, yield curve flattens: The broader stock market had a choppy reaction to the Fed yesterday, finishing solidly up, but well off the highs of the day. Investors look to be balancing the positives of the central bank dealing with inflation with the negatives of removing accommodation, even with rates still at zero.
Still, the S&P (SP500) (NYSEARCA:SPY) has a chance to finish the week higher with two strong sessions. It's currently 37 points off the flatline and futures (SPX) are up more than 0.5%. The 10-year Treasury yield (NYSEARCA:TBT) (NASDAQ:TLT) is flat at 1.33% and the yield curve flattened yesterday, with short-term rates moving up (NYSEARCA:SPTS) (NASDAQ:VGSH).
"So the market seems to believe the more hawkish the Fed gets the more likely they’ll control inflation and/or choke the recovery," Deutsche Bank's Jim Reid says. "The puzzle is that even if the dots are correct, real fed funds should still be negative and very accommodative historically for all of the forecasting period. As such the market has a very dim view of the ability of the economy to withstand rate hikes or alternatively that the QE technicals are overpowering everything at the moment."
But Ruesterholz notes "an economy benefiting from very accommodative policy with significant excess savings," and says "markets continue to benefit from a 'wall of cash' looking to buy dips and find yield
All about as clear as mud, purposely no doubt!
Cheeky top up @91.1p. Avg now 98.8p - exciting times!
The Federal Reserve avoided a shock to equities in an already weak September, but will investors remain comfortable with the hawkish tilt?
As expected from its decision yesterday, members pulled forward rate-hike expectations on the dot plot. And Fed chief Jay Powell telegraphed a tapering announcement at the next meeting in November. Tapering is expected to end around mid-2022 and liftoff could occur after that, although 2023 still seems the most likely timing for the start of rate hikes for now.
"What is clear is that inflation is likely to be the determining factor for liftoff and the pace of rate hikes," Deutsche Bank Chief U.S. Economist Matthew Luzzetti writes in a note. "If inflation is at or below the Fed's current forecast next year of 2.3% core PCE, liftoff is likely to come in 2023, consistent with our view. However, if inflation proves to be higher with inflation expectations continuing to rise, the first rate increase could well migrate into 2022."
Scott Ruesterholz, portfolio manager at Insight Investment, is expecting a gradual liftoff and notes the Fed "is expecting inflation to run above 2% through 2024 even as they keep rates below their neutral 2.5% estimate." "That shows how committed they are to fostering as strong of a labor market recovery as possible." But was also the discussion and debate about asset purchases and how to communicate a taper within the FOMC and the markets a waste of energy?
"All the time spent deliberating on prospective tapering, and the hours of market-participant focus on it, could be much more efficiently spent elsewhere," Rick Rieder, BlackRock CIO of Global Fixed Income writes. "We have argued for some time now that the economic conditions were ripe for a more normalized monetary policy, and that this, in fact, could mitigate the possibility for rising unintended consequences that could risk undermining the recovery that the Fed helped to engineer."
Wait for it ...
Currently circa $1751
Off by nearly 1%
This pm, controllers, on cue, hitting the price again to suit.. - No way out of this dilemma I fear. - The bad guys have it all under control. - Basel 3 - What's that when it's all there.?- A chess-piece methinks.
Hi Dasut,
Great to hear from you again!
I was unaware that you had already posted an explanation about the content structure of today's presentation.
Possibly it will take a few days before the analysts offer any opinions?
I recall your queries in the past on the issues you have explained in such an easy to understand fashion today!
Agree Dasut
The key is confidence. - Confidence can only be restored when ounces and profits improve, targets met and it starts to do what it says on the tin. - Until it happens, it doesn't matter how much verbage is flying around, the mindset of the market and the P/E ratio will be influenced more by past history. IMO
Hi Candid, Somnamna & other members,
As I said on first impressions it all seemed very positive for the future, however it was clearly aimed at analysts and geologists ,so not at all easy for many of us ordinary retails investors to understand.
Cowichan or Mr Gnome will no doubt be able to decipher much of the technical details and possibly then post some simplified highlight's or bullet point's points that are more relevant and easily understood by the majority of share holders.
Depending on their workload I will also see if I can get a mining analyst contact to offer their opinion the presentation.
Today's briadcast reinforced the case for dedicated retail investors forum!
Somnamna I think you are among the majority as the presentation was technical for the layman investor hence the total lack of interest by the majority of investors and the SP doing absolutely nothing.
It was a presentation meant for those who understand the difference between working to focus on the grades without taking account of the implications governed by the geology, in simple terms understanding if you move a brick from a wall you can see through but if it collapses not only can you no longer see through you now have considerably more bricks to move if you aren't trapped underneath.
I did say simple terms but past experiences at Sukari tells me the new management are putting in grown up professional strategies as against amateurs playing at big business.
It answers some questions that were nagging at and annoying me.
As far as the SP is concerned I can only see an improvement when management announce improved ounces and higher profits that the majority of investors actually understand.
Well read the slides of the presentation but I couldn't glean any more additional information than from what was in the interim accounts ..although I don't think the extra 2 million ounces was mentioned
Not speaking for Mr T but I didn't understand much.
Lookimg forward to the seeing it translated into simple terms