The latest Investing Matters Podcast episode featuring Jeremy Skillington, CEO of Poolbeg Pharma has just been released. Listen here.
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...an agreement was signed with Al-Sukari Gold Mining Company in February 2021 regarding the manufacturing process for mining equipment
...manufacturing in record time within 12 days for the first dump out of a total of 45 dumpers that will be manufactured successively
...the provision of technically qualified labor to serve the mining field in Egypt, in addition to the establishment of the first production line for the manufacture of mobile heavy mining equipment to serve gold mines.
Fadi Selim, a member of the board of directors of Aresco, a manufacturer of heavy mining equipment in Egypt, said that the Sukari company's initiative to manufacture heavy mining equipment in Egypt instead of importing it is one of the national initiatives that the state has always advocated with the support of President Abdel Fattah El-Sisi to reduce imports and settle modern technology and industrialization.
https://twitter.com/PeterHanna1/status/1421047425645649921
https://www.dostor.org/3524896
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My Thoughts: I wonder if Sukari expansion plans are already in the works between the EMRA and Centamin
Chicago PMI 73.4, Exp. 64.1
The fool likes us.
The share price of gold miner Centamin (LSE: CEY) has more than halved since this time last year. It’s been the victim of two common risks that can dent such a stock. Namely, a weakening of the price of gold and an operational setback.
However, I can see two reasons for optimism right now. First, continuing massive money printing by governments should be supportive of the gold price. Second, Centamin appears to have stabilised operations.
It reiterated its production and costs guidance for 2021 in a report on 22 July. I reckon further positive noises in its half-year results on 5 August could see returning investor interest in the stock.
So we can expect 6 cent divi sometime in September no doubt.
In the final results 22 March this year it said “ The Board reiterates its intention to recommend a minimum 2021 dividend of US$105 million (interim and final)”. You are of course quite right the last 3c was the final from 2020 following an interim 6c (I said these figures from memory), so total will be 9 cents again, but not necessarily in same split between interim and final as last year but makes more sense to keep the same, as 6c now and 3c later
£4.00 !!!. - Bring it on.
Hi Centaminers,
Although I don't have access to any privileged information, last week I was in contact with someone who is well informed on Centamin and they seemed very confident the already mentioned dividend is safe, also Martin Horgan regards maintaining a healthy divided as a very important factor of the company forward strategy.
The Sukari clean up is being closely managed and proceeding at a better then expected pace, it seems the site clean up has been beneficial in more ways than originally anticipated and the new team are taking advantage to gain a much better understanding than they had previously of the geological structure of Sukari, it is hoped that this should prove very beneficial in enabling safer and more efficient future open pit and underground production!
Possibly this why Martin Horgan seems optimistic about things moving forward and exited about giving the Q3 production update?
So I won't be worrying about this years dividend , or any takeover unless the interested suitor started the wooing at about £4 for now!
hi Red,
it's a time old strategy in business and even in politics, talk something down or make out your not interested if you want to put off other buyers /candidates and so push the price down, "Buffet' is past master at this game!
Thanks Mando
I missed the last two lines in the quarterly report. I will now sit back and smile.
Sotolo
Surely the 3% we last received was the final dividend for last year. Or am I missing something.
I think the US debt ceiling is imaginary, or so the amount of US debt would imply; It's a bit like my ever owning an e-Type Jag or Lotus Elan!
Opinions on the US Debt ceiling suspension ending 31 July, and the end of commercial mortgage relief?
Time2retire I was just thinking the same thing this morning. Thanks for posting.
Sotolo, can you confirm where that dividend statement is posted, as I have not been able to find anything whilst looking around myself. Thanks.
Very unlikely for negative dividend news considering the positive quarterly announcement. Horgan's looking forward to announcing the dividend, not dreading it, so I'm thinking it's all good. :-)
"QUARTERLY Report for the three months ended 30 June 2021
MARTIN HORGAN, CEO, COMMENTED: "Centamin has delivered another solid operational performance and we remain on track to meet full year cost and production guidance. During the quarter, excellent progress was made with the Sukari waste-stripping programme which has significantly outperformed budget and resulted in record material mined. This is testament to our team at Sukari delivering improvements in operating efficiencies and further supported by the quick mobilisation and ramp up of the waste-stripping contractor. We look forward to announcing our detailed half-year financials and declaring the interim dividend on Thursday 5th August.""
They have already said they will make a final dividend payment of 6c, to make a total of 9c, $115m from memory, paid partly out of reserves as not enough profit this year and next to cover it; this should be announced with the interim results. I do hope your worry is not proved right, as it would be very surprising if they went back on this, and probably shocking for the share price
Wonder if there will be a dividend announcement in the interim results next weeks?
My betting is no.
It's not boring it's manipulated..
European stocks - in premarket trading on Friday as investors awaited an array of economic data, including GDP figures from Germany and the euro area, as well as Eurozone inflation numbers.
The FTSE 100 fell 0.62% at 7:14 am CET and the DAX slid 0.90% at the same time. The CAC slid 0.90% at 7:25 am CET.
The euro lost 0.08% against the dollar to sell for 1.18780 at 7:15 am CET and the pound was down 0.10% compared to the greenback, going for 1.39440 at the same time.
Breaking the News / NP
Happy weekend guys..
Well, now. In $US terms, gold reached just under $1920 in Sept 2011 (I think). It broke that level last August to reach $2075-ish, but couldn't hold it. Then it tried to break that $1920 level in June this year and got a slap. Are we about to have a third try to break that $1920 barrier? If you believe in Eliott Waves, in £ terms we are in a wave 3 uptrend now. I have no idea if that is true, but perhaps those whot were quoting Buffett last week, and saying that gold was boring, might just have been on to something. I hope this is not a false dawn.
Strong up 1.25% for today.
Thank you for the information Mr Tibbles.
There is a lady who lives in a nearby village who belongs to animal welfare/ anti-hunting organisations (the farmers hate her) whom I informed on Tuesday morning about the incident. So it is in hand.
Gnome I think Cey PE will be a fair bit over 20 this year, even with the halved share price, as earning will fall quite a bit more than the share price . Let’s see what first half results show shortly. However the plan is it should return to around 12 where it was in 2023, if things for once go according to plan, but will Barrick believe that, or believe they can make a plan work, and will they want to have in effect a minority share in a mine after profit share and royalty?
The police, other enforcement agencies and their partners are proactively targeting offenders and seeking information on those who may have involved themselves in criminal activity in relation to badgers and or their setts. The public are urged to act if they have any information on badger baiting activity:
You can report your suspicions on any of the following numbers:
Police 101
England & Wales
Badger Trust online report form – click here.
RSPCA 0300 1234 999
League Against Cruel Sports Wildlife Crimewatch on 01483 361108
Suspected poisoning/gassing incidents can be reported to the Wildlife Incident Investigation Scheme (WIIS) 0800 321 600
Naturewatch Foundation Wildlife Crime Adviser and Secretariat of UK Badger Persecution Priority Delivery Group – Andy Swinburne 07392 185 373
Naturewatch Foundation Investigation on named individuals concerned in illegal persecution contact: Andrew@naturewatch.org or visit https://naturewatch.org/campaign/badger-baiting-in-the-uk/badger-baiting-take-action
Scotland
Scottish Badgers online report form – click here.
Scottish SPCA 03000 999 999
https:///faqs/wildlife-crime/what-do-i-do-if-i-suspect-someone-is-badger-baiting/
Barrick is also about to become a money printing machine by year end...
Also the Geoengineering assault on our Planet.
https://www.geoengineeringwatch.org/geoengineering-watch-global-alert-news-june-12-2021-305/
Supermarket shelves are also lower!
UK supermarket shoppers are greeted with empty shelves where familiar products used to be. There are shortages of fresh vegetables at Tesco, shortages of frozen foods at Sainsburys and shortages of glitter cannons and divers’ helmets in the middle of Lidl.
But how much of what we are seeing is entirely down to the pingdemic - workers staying home after being told to self-isolate - and how much is the fault of you-know-what? When Leavers are asked where the blame lies, Brexit seems to be the hardest word.
Baking giants Warburtons say a lack of loaves is because of “higher levels of absence due to the rise in community infection rates of Covid-19 and the knock-on effect that has with more people having to self-isolate.”
But the company concedes its current problems are due largely to a national shortage of lorry drivers - and 25,000 EU haulage workers have gone home to Europe since the transition period ended. Could Warburtons’ reticence to blame the B-word be explained by the fact that their chairman Jonathan Warburton was a keen Leaver, writing in November 2016: “Brexit is a very good thing to have happened. We are well out of the rotting corpse of Europe”?
the Brexit-crazy Telegraph did not mention the effects of leaving the EU at all in its 978-word, front-page report on supermarket shortages last Thursday. Instead, it reported the shortfall of lorry drivers had been “caused in part by cancelled driving tests”.
With 600,000 told to self-isolate in England and Wales in the week between July 8-15 and supermarkets reporting delivery lorries queuing up with no-one to unload them, it would be just as misleading to pretend that pinged workers were having little or no effect on the lack of some goods.