Charles Jillings, CEO of Utilico, energized by strong economic momentum across Latin America. Watch the video here.
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Hi Cowichan,
Both you and Andrew raise very pertinent points , lets hope Martin Horgan follows through with the promised actions to address them to the satisfaction of everyone concerned without delay!
https://twitter.com/CentaminPlc/status/1440341116927107078
As we continue to develop our #Sustainability Performance Framework we have updated our #ESG policies in line with industry good practice and launched a new dashboard capturing our annual ESG performance data
Download our ESG dashboard: http://loom.ly/zvyyNRE
#RGMPs #GRI #SASB
---------------------------->>>
https://twitter.com/DonLawson_/status/1440352339492171782
Long term shareholders are proud of Centamin's #ESG commitment
However, #CEY has been stuck with ONE #gold mine to manage - unlike many miners who've grown, live ESG & provide new jobs/value thru expansion
#CEY TALKS about growth & performance but in reality has yet to prove it
------------------------>>>>
My Thoughts:
'Continuing to develop a sustainability performance framework' sounds important.
I wish management would give equal effort in 'continuing to develop a gold production framework' AND articulate that message to the market and investors.
As Goldgnome recently pointed out, part of the reason - or perhaps the main reason - our share performance is so dismal relates to the fact Centamin doesn't have a strategy to promote what catches new investors attention first - and that is growth.
Mining will continue to be looked at by many as a dirty sector - some will not invest no matter what ESG changes are implemented. We dig up the land and leave what appears to be scars. Fine. But for those who do invest - like us - we still need management to articulate a concrete, achievable path to grow production.
A simple, obvious omission that needs fixing fast.
Good stuff Tibbs - we all need a laugh! And funny business aside - it's entirely true. ;-)
2m trades after-market tend to capture the attention.
Hedge Funds & Leverage Investments Funds
Sub Prime & Structured Investment Packages
https://www.youtube.com/watch?v=z-oIMJMGd1Q
Investment Banker explains the reason for market turmoil.
https://www.youtube.com/watch?v=9z70BKwfSUA
Why are Senior City Banker's paid so much?
https://www.youtube.com/watch?v=MYw_hrGzaxQ
Hope we are out of the awful rut . . . haven't enjoyed it one bit.
Sorry posted too soon, typo's below, should read -
"but in the absence of anyone else starting a thread will at least serve the purpose for the time being"
Hi Mr Gnome,
I hope that you and everyone else get the answers to their questions, you will see that I have posted a thread on this forum now, depending on responses it may have to be relocated or changed in the future, but in yje adcence of antyone else sarting a thread will at least serve the purpose for the time being
Questions and answer thread for Centamin Retail Investors.
Reply below -
Quite so Cowichan,
Unfortunately email's are all too often ignored by those who have the ultimate power to make the changes or take the action action to bring about change!
Governments the world over want to limit peoples s awareness of the true facts which is why the was such an outcry when William Haige when Tory minister decided to take the BBC world Service off the FM broadcasting band during daytime hours and make it only available on Digital or via the internet
https://www.bbc.co.uk/news/entertainment-arts-12283356
https://publications.parliament.uk/pa/cm201011/cmselect/cmfaff/849/849.pdf
And yes your politicians are a bunch of hypocritical selfish political gravy train passengers just like ours in the UK and so many the world over "Don't do as we do just do as we say!"
Is it ever closed?
I seem to recall that Chinas property market first raised concern in 1999. Empty buildings in the middle of nowhere. But what will the Chinese do? I wonder how much money Evergrande owes to western banks? And when it comes to property Western banks cant ignore property look at the property crashes we've had? And Chinese rates are higher than American & other Western countries. A lot of Russians took out dollar mortgages because of the lower rates. But in 2014 with the Crimea thing the rouble halved in value..i.e. the value houses securing those dollar mortgages halved in dollar terms. Then add in the property price collapse of Russian property. Add in the doubling of those dollar mortgage payments for Russian home owners and ouch you get defaults. So what happened to that? Maybe there werent that many dollar mortgages in Russia after all. And then again maybe they were dumped on the worlds financial markets like the US sub prime mortgages? or maybe they are still hidden in the banking system ? Ho hum!
Bitcoin opened 7% down this morning.
Presently $42K.
European stocks traded above the flatline premarket on Tuesday following yesterday's selloff. Tensions between France, the European Union and the United States, the United Kingdom and Australia were high following the cancellation of the submarine agreement between Canberra and Paris.
The FTSE 100 gained 0.64% at 7:43 am CET. The DAX increased 0.37% at the same time, while the CAC 40 rose 0.25%
The euro and the pound were up 0.07% and 0.11% against the dollar at 7:44 am CET, changing hands for $1.17340 and $1.36702 respectively.
Breaking the News / MD
Why not, continues the theme of rivalry between the US and China...knows no bounds.
Chinese property giant Evergrande is being picked over by outside advisers who are trying to untangle more than $400 billion of debt (How could it grow to this level?)
One of the nation's largest real estate developers, the company claims to own more than "1,300 projects in more than 280 cities in China and is a forerunner in delivering all houses with fine decoration".
And until this year, Chinese property was booming.
Demand for real estate in mega-cities Beijing, Shanghai, Shenzhen and Guangzhou drove prices to among the most expensive in the world.
Evergrande took out loan after loan to meet demand. Checks and balances please?
But then came falling property prices in smaller cities and a series of government measures aimed at cracking down on excessive borrowing in the real estate sector.
Economists say the potential collapse of the company could "be the biggest test that China's financial system has faced in years."
In its wake, thousands of Evergrande's investors, suppliers and employees of the sinking company are hoping the government steps in to help them get their money back. The Govt seems to step in a lot these days, with other peoples money, creating debt of a different kind (but debt is OK as long as it is in your own currency/country, so they have learnt well from the USA)
So far, Beijing continues to hold a firm line against such a decision.
Beijing draws three red lines? Why red?
Evergrande's woes began when Beijing slapped strict rules on the Chinese real estate industry last August.
Known as the 'Three Red Lines' limit, the rules were aimed at reining in debt and making real estate more affordable for the average Chinese family...sound familiar, replay US Cinton's regime...subprime part 2?
Revision:
Under Clinton’s Housing and Urban Development (HUD) secretary, Andrew Cuomo, Community Reinvestment Act regulators gave banks higher ratings for home loans made in “credit-deprived” areas. Banks were effectively rewarded for throwing out sound underwriting standards and writing loans to those who were at high risk of defaulting. If banks didn’t comply with these rules, regulators reined in their ability to expand lending and deposits.
These new HUD rules lowered down payments from the traditional 20 percent to 3 percent by 1995 and zero down-payments by 2000. What’s more, in the Clinton push to issue home loans to lower income borrowers, Fannie Mae and Freddie Mac made a common practice to virtually end credit documentation, low credit scores were disregarded, and income and job history was also thrown aside. The phrase “subprime” became commonplace.
and on the show goes, why dont we learn? why dont they learn? this time it will be different
I think I will join Mr Bond, and take a morning nap, before trading starts in ernest.
best
the Gnome
Goodnight MrBond, sleep well.
Cowichan
CEY certainly do not communicate their brownfields exploration strategy very well, let alone results. Being a long term member of the Cynics and Skeptics fraternity, I hope this does not mean they do not have such a strategy. Be nice if they could explain it clearly to the owners of the company (us!), so we could better understand one important organic growth path of the company. Not explaining this clearly does mean there will be little premium attached to CEY shares, in my view.
Seismic was flavour of the month (actually a few years) in Oz, yielding some fantastic new insights into geology and new ore positions..and new discoveries. It looks like CEY participated in this (seismic surveying), but what happened? Results? Follow through? The Pardey gush and bluff moved on...
I have asked some questions of the CEO in this area, and they have been acknowledged and are about to be answered, I am all ears!
The CEO would be wise to answer, carefully and to act effectively and quickly in this area.
best
The Gnome
Manipulation.
Good night it is late here.
Interesting sell off at the end of the day, which does not seem to be correlated to POG moves? (check this as I am in different time zone)
Reminds me of some similar moves seen in the ASX sometime ago, always at the end of the day..almost last trades. It turned out the ASX were onto such REPEATED shenanikans, and caught the offenders who were trying to prove a point...in this case it was a sell up, such that the graph of end of sales SP was always up (despite the downs during the day). The offenders enjoyed accomodation at the cost of the state for year or so, and life went on!
I do however get the firm view that there are some distortions in the market. Gold miners down, anything to do with lithium up up, nickel up, uranium up, iron ore up up and now down down, gas, and so on.
Interesting to look at the Uranium market, and the change in market structure, initiated by the Sprott Trust. The uranium market is an odd one, influenced by the utilities buying strategies and programs, which has (nearly) always run at the pace the utilities want. But its a relatively small market, and as such, games can be played, and of course they are all legal.
Sprott chief executive said the physical uranium trust that Sprott launched in August would help rebalance the 180m-lb-a-year uranium market — driving prices to a level that spurred greater production of the radioactive material. Great cause? Or is it? Who benefits and is the benefit fair and reasonable?
Pity someone else doesn't try and bring a new structure to the gold market, so that it benefits the (more) deserved, and the benefits are fair and reasonable to a larger % of the market particpants. The present opaque machinations that pass for a market, is neither fair nor reasonable, one could argue. Its a pity the POG is such a ready reckoner of the continual debasement of the US dollar ( a decline of more than ninety-eight percent in its purchasing power over the last 100 years, no less?). History would tell one, that one has to be careful with causing too much debasement too quickly, and social ruptures and revolutions can start. Best to shave a little gold off the coin that does the rounds...and so it is with inflation, which is what some look at for evidence of a little shave...but as one does know there is inflation! and inflation? and then there are the price increases that effect your wallet.
Is it not surprising that the Fed is planning to tolerate higher inflation than its historically preferred level of 2%. All things equal, the more inflation there is, the faster that public debt to GDP reduces, otherwise what do they do?
More money printed, more productivity? in times of burgeoning bureacracy? increasing mountains of red tape? incr govt?
Anyone else got clues as to the price drop at end of day?
best
the Gnome
Cowichan ...can you start a thread headed up Questions for Centamin , so we can all see what the questions we all have are .
I would if I could but for some reason it won't allow me .
I will be asking them 3 questions tomorrow via the email link but it would be good if I can share them with all others on the board and for us all to see each others .
Thanks .
As have said many times the PR are there to filter the CEO.
He has more important problems to answer to.
Imho
Don the photo was innappcente ,it was taking the ****. A baboon, that was sitting on a drilling machine,
That's going to far,. It appeared Capitol Drilling is incompetente. Sorry to disagree.
I am sure I will get voted against ,but that is my opinion.
IMHO.
I'm sure others will disagree with me.
So what!
For those who might think I have not yet put my questions to Martin Horgan - I most definitely have - multiple times over many months -just as I suspect have others. Centamin has my personal details, email and personal cell phone number. Heck ,there's probably even a PI driving around my flat as we speak...
Here's a great video presentation on how geophysic techniques actually work in the mine(field!) of mineral exploration
https://youtu.be/575UOG7TJSk
Hopefully we are at the point where Centamin management can elaborate on past discoveries. Namely how far beyond Sukari they've found the ore body has extended - and any new orebodies of note.
An excerpt from Centamin's 2019 Report :
Exploration
'During 2019 the discovery of Horus Deeps was made at Sukari, an exciting target of two high grade dipping structure which is located 300 meters below the current underground infrastructure. Mineralization was similarly intersected below the Ptah and Amun zones, indicating the structure extends to both the north and south.
A surface step-out drill programme is underway in 2020, at 250 meter spacing which will tie into the current seismic programme, increasing the resource potential and geological understanding across the tenement.
In 2019 we commenced a small-scale regional exploration programme outside the mine gate, though within the larger Sukari tenement. There are several underexplored known deposits, all within trucking distance to our process plant.
A 2D geoseismic survey was completed comprising 35km long lines along three independant sections. Initial data interpretation is very encouraging, identifying multiple potential gold systems.
Processing and interpretation of the seismic data will facilitate the construction of 3D models with resolution of structural models to depths of 1.5km'
My penchant for criticism is legendary Tibbs - although I wasn't criticizing this swimmer at all.
I was pointing out the responsibility we all bear as individuals to reduce our carbon footprint.
For instance, we are having an election over here in Canada. The current Prime Minister called the election a full two years prior to the date necessary. That's $600 million spent of public funds to possibly secure the PM a majority government - in the middle of a pandemic - for absolutely no reason at all.
It has forced all six political party leaders to crisscross Canada on their private jets telling Canadians they are the best man to fight climate change...
That in my opinion is hypocrisy. How can anybody take their commitment to the environment seriously when their actions scream - ' do as I say , not as I do'
I could also name dozens of other instances of the political elite using the environment issue to score political points. Is that environmentalism?
Everyday ordinary citizens are often much more environmentally friendly because of their rather small footprint but you'd never know it judging by the ranting politicians who are apparently held to a lower standard.
Also, regarding the swimmer - for those dozen or so people who haven yet heard the glaciers and ice caps are melting - send them an email. I know it's not as dramatic as freezing off one's testicles but it's also less polluting.
Hi Cowichan,
I take your point about carbon footprint caused by traveling to Greenland but feel your criticism is somewhat unwarranted considering Lewis Pugh has increased media and public awareness COPS26