George Frangeskides, Chairman at ALBA, explains why the Pilbara Lithium option ‘was too good to miss’. Watch the video here.
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I missed it, being in the wrong time zone, and traveling with my wife ?! Tried to login but the web site said to wait for the archive, which I am doing. Talk is good, and goals are better (dates, things) but walking the atlk and meeting the gioals is what has to happen
best
the gnome
What I can't understand is that the life of the nine was already about 10-12 years before this discovery , now it is still 10 years so what has changed ..unless it will result in an uptick in production ? .
Perhaps I am being ignorant or unduly critical but I am underwhelmed by this statement (and so it appears) is the market) although it tends to take several days for the market to fully digest the information and react accordingly
What I am hoping for, is a positive update on Doropo project which has the potential for a further 5 million ounces I think ..the two of them together will amount to some very positive news which will give sufficient time for new resources to be found , although I think it will be quarter 2 of 2022 before we know that ?
I am keen to hear what the geologists on this site think about the news.
Ah I see- just read it on their website- not done anything positive for the SP so far, let's hope this changes throughout the day- fingers crossed
Ah I’ve now read it on their website- so far not done much for the SP! Fingers crossed this changes to the positive throughout the day
Razor, I didn’t see this RNS?
GEOLOGY AT THE CORE OF OUR BUSINESS
MARTIN HORGAN, CEO, COMMENTED: "Today we are setting out our approach to the geological management of Centamin's assets and how this underpins our vision of becoming a multi-asset gold producer. Our focused geology campaign over the last 12 months, led by a revitalised geological leadership team, has highlighted the tremendous opportunities in the business and potential in our assets. We believe we can deliver an additional 3Moz of reserves through organic growth over the next 24 months, including extending the Sukari underground life of mine to 10 years."
Centamin is hosting a virtual capital markets webcast today, Thursday 23 September 2021, for investors and analysts. The event will be hosted by Martin Horgan, CEO, Craig Barker, Group Mineral Resource Manager, and Howard Bills, Head of Exploration, with the presentation starting at 10.00 am BST (UK time). Martin, Craig and Howard will deliver a technical presentation focusing on Centamin's approach to geology and exploration, framing the embedded growth opportunities within the business.
——————
A positive charge to the share price, I expect.
Equities in Europe traded higher in the premarket session on Thursday, as investors waited for the latest data reports to give an indication of the state of the economy. Meanwhile, the European Central Bank will also comment on the economy in its latest economic bulletin.
The CAC 40 rose 0.38% at 7:36 am CET. The DAX increased 0.38% at 7:37 am CET, while the FTSE 100 traded 0.36% in the green at the same time.
The euro gained 0.21% on the dollar trading for $1.17116 at am CET, while the pound traded 0.20% higher against the American currency going for $1.36458 concurrently.
Breaking the News / OL
Unfortunately for share holders Pardey was over promoted well above his comfort zone and capabilities, even more unfortunate was that the board allowed him to to stay in post for so long when concerns were already being flagged by analyst's in 2016 of impending low grade problems and questioning Pardey's policy of high grading of the Sukari open for short term gain!
As all to often happens in these situations professional failings,incompetence, possibly even deliberate concealment of the true facts by a CEO were allowed to carry on for far too long, another 4 years in fact of of erratic Sukari production with lame excuses for failing to hit guidance, possibly as already stated because to take action would cast some doubt on the performance of the management board itself, so as all too often happens to avoid loss of face or embarrassment, even a admission of failure by the board, instead a golden goodbye handshake is awarded for the culprit's failure's ,rather than a honest boot up the ar(se out the door!
Hi Mr Gnome,
Such a shame that so many of this regions presidents and the political elite are so greedy and care nothing about their own poor people.
Middle Eastern authorities could do more by controlling the export of illegally mined gold, but then so could the Western authorities and regulators, there's just not the will.
Surely a united nations task force should have been deployed to the Sahel as soon as it became apparent that the Jihadists and extremists were terrorising the local people and had taken control of the area and in order to operate illegal gold mining on such a scale?
Thanks Cowichan
The terribly incomplicated thing in Burkina is that if you are poor you have very little chance...unless you pick up a gun.
If you are a poor woman, well...a lot less of a chance.
If the terrorists and poor robbers don't do you over, the rich robbers will.
Fills me with despair.
And dont ever wind me up about the International Criminal Court...still no satisfaction on the assasination of President Thomas Sankara,
the Gnome
Thanks for sharing. Just goes to show the situation in Burkina has always been complicated!
Also, for anyone wishing to submit a last minute question for Centamin's Geology Event (happening in 12 hours or so) the registration page allows submissions directly too - after registration.
https://webcasting.brrmedia.co.uk/broadcast/612e5ff612f0cb436ea6856e
I think one has to be careful as to what is happening
1. No scientific report has been produced to the owners off CEY as to the Geomet. Where were the samples taken, how did they know the samples were representative and so on...
2. No map has been provided to owners (us) as to what tenements are still owned by the owners.
3. There are gold occurrences north of Konkera, which are along a crustal scale NS fault. These were held and mined by relatives of the past President fo Burkina Faso. [ The presidents relatives reportedly ran a thriving gold business (which benefited them and not the populace), and rumour is they captured all of the gold from the small scale and artisinal mining groups in Burkina. Sadly a lot of the small scale mining in the northern parts of the country went into other hands https://www.reuters.com/article/us-gold-africa-islamists-special-report-idUSKBN1XW11F Sadly most of the small scale gold is smuggled out of the country illegally, avoiding benefit to the people. Sadly Burkina Faso remiains impoverished. https://www.reuters.com/investigates/special-report/gold-africa-smuggling/ ]
But if it was not for large scale gold mining the country wold be a lot lot poorer.
Enough said.
best
the gnome
There is smoe new assay technology, which cold greatly aid CEY and any gold miner. Enables parts per billion gold assays, same day for a greatly reduced cost.
https://portableppb.com/files/1_detectORE_Overview_Website_April2021.pdf
Knowing where gold is, in real time almost, increase engagemeng and allows one ot find gold a lot quicker
bet
the gnome
best
the gnome
Cowichan
Thats interesting if CEY have droped all of the ground, becuase there are different styles of gold mineralisation in the Batie area. I have not seen any believable evidence that it all is refractory. I could have missed something. But then again so cold they, and I have seen many times that companies have based their Geomet on less than 0.001% of the total volume of the resources. Syama was a famous cse in point, done by no other than BHP
best
the gnome
Cancel that fleeting sentiment:
“ The price of gold retains the series of higher highs and lows from earlier this week as the Federal Open Market Committee (FOMC) stays on track to “increase its holdings of Treasury securities by at least $80 billion per month and of agency mortgage-backed securities by at least $40 billion per month,” and bullion may stage a lager recovery over the remainder of the month as the decision by Chairman Jerome Powell and Co. drags on US Treasury yields.
Nevertheless, it seems as though the FOMC is preparing to switch gears later this year as “the Committee judges that a moderation in the pace of asset purchases may soon be warranted,” and Fed officials may lay out a more detailed strategy before the end of the year as Chairman Powell reveals that the central bank could start tapering its quantitative easing (QE) program ‘as soon as the next meeting.’”
I really appreciate your words of support.
As I stated before it's unclear if these recently announced Altair Resource concessions are the same as previously held and worked Centamin concessions - but the fact that they're only 35km from the Batie resource we still need to sell means it's worth hearing from Centamin one way or another.
Centamin has admitted they no longer hold the Wadaradoo & Napelapara concessions (an admission it took years to whittle out of them) - that means somebody else is going to benefit from all the drilling done on those sites and surrounding areas. That in itself is a great loss to us and will be a great gain to some third party - whoever that third party might be...
This part from the release in the link talks about 2012 as below. Didn’t they purchase Ampella in 2014 - is this the same permits
Acquisition Highlights
The 3 prospects, consisting of approximately 17,879 hectares, are located in one contiguous permit in the productive Precambrian greenstone terrane of Burkina Faso. Up to 2012, extensive diamond drilling, reverse circulation drilling, trenching, air core and auger work totaling 387,000 meters have been completed with a total of 294,000 samples taken. The three prospective open pit historical resource targets include:
Looks like a failure by the prior board to affectively manage and understand CEY business, its assets, drilling data, opportunities and to reward Pardey for his shannigans.
Its probably too embarrassing for CEY to admit and should be a small family business and not a FTSE company adhering to high standards and KPI. As we know it is often a club and the KPI are low so all can benefit.
Here's hoping that this is a massive lesson learnt and they need to be held to account -well done Cowichan.
Apologies, if I have got the wrong gist or if this is over simplistic . I think there needs to be transparency and MH understands the past failures and does not allow the same shannigans for the future. I hope MH is his own man!
It is about time we started having some light at the tunnel and to be rewarded for 10 plus years
Best to all
Hi Cowichan
Thankyou for all your insightful insight into this board and your professional industry comments. I look at basically recycled open source from others but value your contribution above all others.
Looks about to take off again.
Must be the Fed.
Again.
7 million shares bought tonight , shows confidence !
'If Capital gets another Sukari-type contract in the next nine months (highly likely, say reliable sources) the swing of the needle to the upside would bring about a serious share price re-rating.'
'Contract mining may be the big new thing for Capital, but don't forget assay services, said Berenberg.'
'The broker's mining analyst Richard Hatch has highlighted Capital's geochemistry business, dubbed MSALABS, which he believes could grow group revenue by around 20%...'
https://www.capdrill.com/news/capital-limited-has-never-had-it-so-good-mining-journal-article
-------------------------->>>
My Thoughts:
Capital's new Egyptian assay lab in Marsa Alam should be up and running within weeks.
I hope it is in anticipation of a BIG new deal with Centamin - expansion has been long overdue.
Dear Don Lawson,
As per our website and corporate communications, Centamin does not hold the exploration licenses you are referring to. Exploration was carried out on these licenses in 2015-17 and no commercial discoveries were made. For further detail on the Batie West project I would refer you to the announcement made on the 27 May this year. For ease please find a link here: https://www.centamin.com/media/2403/west-african-portfolio-confirms-growth-potential.pdf .
------------------->>>>
So then we NOW KNOW Napelapara and Wadaradoo are GONE. So I added this question to our LinkedIn thread :
---->>
Will Centamin PLC confirm Altair Resources has now purchased those previously held #burkinafaso resources Centamin PLC's shareholders financed & drilled in 2015 through 2018 as indicated in the press release below?
Altair Res. announces the signing of a binding agreement with three arm’s length private individuals.
Extensive diamond drilling, RC, trenching, air core & auger work totaling 387,000 meters have been completed. Approx. 100km of diamond drill core from previous exploration has been logged, indexed & stored, & are available for Altair’s geologists.
The May 2018 Estimate disclosed in a report by the Sellers does not comply with NI 43-101
Altair will make a cash payment of US$2.3 million to the Sellers, & upon the completion of Form 43-101 additional US$7 million.
At the end of 2nd and 3rd years an additional US$9 million.
At the end of each of the 4th and 5th years US$10 million.
Altair Chairman/CEO, “We are extremely excited to acquire such an advanced exploration asset having nearly 400 km of drilling
https://lnkd.in/eckmrDRv
Martin Horgan Craig Murray Marna Cloete Catharine Farrow Sally Eyre Ross Jerrard James Rutherford Mark Morcombe Norman Bailie Wayne Koshman
------------------------------>>>
My Thoughts:
Until we find out if indeed these Altair concessions are the missing concessions I'll reserve judgement.
But if it turns out these ARE the relinquished concessions - what then? Are shareholders just supposed to yawn and look the other way at Centamin's purposeful silence, denial and indifference?
Does this amount to criminality? Who are the three arms length individuals? Who on the board of directors approved vs resisted allowing these concessions to be relinquished and to what purpose?
Altair Resources is so very excited to get these concessions and are BOASTFUL of all the drilling and exploration work done. They are also in possession of a maiden resource estimate - no it's not yet NI 43-101 compliant but apparently it's just a matter of having the right personnel i.e. qualified geologist crunch the data already available and sign off.
Boom, instant open pit reserve/resource ready to mine.
How is that not a substantial loss to Centamin shareholders?
hi Cowichan,
I assume you submitted this query to Centamin IR?