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Interesting article - Thanks. - Although Centamin can manage nicely without the FUD-guys. - The history/fact speaks for itself and we know of one attempt internally last year by a director to try to trash the SP.
That's a copy of the aforementioned post.
It is not me.
Interesting post on the BMN board this morning (now removed) about share bashers, a fellow purported to have worked for a Hedge Fund in London recently as a share basher, according to the post 4 persons were employed to bash particular shares on a daily basis, they were paid a daily rate and had bonuses should the share price fall or if one of their bashing posts was responded to keeping it at the top of the thread, the were also other incentives.
The poster was very precise and actually named the aliases used on LSE, there were 6 accounts in operation at any one time. The posters were divided into various categories i.e. plain basher, subtle basher, alleged former shareholder who was 'worried' over the said company and the analyst type who would find negative country related links from the web or negative press about the company.
The quality of the post was very good, I have had contact with a number of city folk over the years and none deny this type of operation exists. There is no doubt in my mind the poster was genuine.
Looking at this thread and the share price performance of Centamin I would respectfully suggest the company has been made a target of a short operation. As with all short positions they have to close, usually ahead of news of if there is fear of a commodity price rebound.
The weak often capitulate unfortunately.
Hi gjsrg - Yep decent dividend paid, but as Mr Tibbs so eloquently describes, - For a pint of dividend paid, we were charged a gallon of share-price to pay for it. - Until otherwise demonstrated, that is still the modes-operandi I believe.
You are right apart from the crap was overhanging the open pit and in danger of falling.
Which all those miners and Engineers either did not report or they were ignored.
Sad.
We have decided to launch a project to prepare for possibly issuing a digital euro. We will look at how a digital euro could be designed and distributed to everyone in the euro area, as well as the impact it would have...
https://twitter.com/ecb/status/1415273625385644036
ECB President Christine Lagarde. “Our work aims to ensure that in the digital age citizens and firms continue to have access to the safest form of money, central bank money”.
The investigation phase will last 24 months and aim to address key issues regarding design and distribution. A digital euro must be able to meet the needs of Europeans while at the same time helping to prevent illicit activities and avoiding any undesirable impact on financial stability and monetary policy.
------------------------>>>
My Thoughts:
A centrally controlled, big brother type surveillance of all monetary transactions is both a good and terrible idea. Theoretically it could prevent tax evasion and cut down on elicit activity but the criminals and wealthy sorts will always find a work around while the average joe has his/her life dissected and inspected down to the last penny.
https://www.ecb.europa.eu/press/pr/date/2021/html/ecb.pr210714~d99198ea23.en.html
Hi Chique,
As Mr Zambain said, for far too long!
What went wrong with Centamin "An Ongoing Saga & Pile of Pardey Pants!"
Had things gone as we had been told they would by Mr Pardey all would have been well, but things went wrong for which he made all sorts of excuses, which we, not being mining professionals were not in a position to query.
Indeed, when Kees Dekker the mining analyst raised concerns in 2016 on high grading even former mining professionals on here chose to take the word of Pardey that all was well, and set backs were to be expected in mining!
So, things progressed to plan as far as we were aware (apart from the (Egyptian legal cases. which remained in a state of comatose) until 2018 when Pardey & Youssef predicted 600,000 oz, three weeks later Oh no!, the mine hit the (Unexpected) low grades that Kees had predicted in 2016, if that were not enough the only LHDR, a vital piece of plant self-destructed and there wasn’t a fit for purpose contingency plan in place , or even any spare parts to mitigate production loss!
So, you guessed it instead of a record output we got an RNS guidance cut kick in the balls and a share price reduction of 50%!
But Pardey said lessons had been learnt, indeed former mining professionals once again put this professional ineptness down to being expected as all part and parcel of mining!
So yet again the shareholders held baited breath whilst the learnt lessons were put into practice whilst production improved and the share price climbed to £2.30!
It seemed that lessons had been learned, but unfortunately not, old Pardey had been high grading exactly as Kees had said in 2016 , if this were not bad enough there was insufficient water drainage around the open pit which caused a fracture in the pit wall, unfortunately this problem was made more difficult to deal with because of the amount of **** in the open pit that Pardey had failed to get cleared for many years, so you guessed it another RNS profit warning and a 50% share price cut kick in the balls for the trusting shareholders!
So, there you have it!
Martin Horgan has quite a task on his hands just sorting out operations in Egypt before he can really justify projects elsewhere, in my opinion of course!
Maybe some iis thinking acquisitions gonna cash draining, possibly leading to lower dividends.
SHG, although more exploration weighted, suffering the same, inexplicable, SP fade.
I am holding CEY since 2012. Getting a good dividend. it is zero debts company (only a few companies in the mine sector ) don't look at share price!.
Well, if you're right, and I suspect you are, there's going to be one hell of a short squeeze in the not too distant....
Like me…too long!
well done mrtibbles
How long have you held CEY?
I have emailed Centamin regarding the outstanding court case and the unresolved diesel case and made the suggestion the both need some resolution as a matter of urgency.
Unfortunately in the past when I have raised the issues on telephone Q&A sessions I got the standard answer of these things take time in the Egyptian legal system!
Time is one thing, but this state of self induced legal system comatose is quite another!
So then after eight years on the diesel fuel dispute time to go to the international court !
It is particularly interesting that UK listed miners are still down today given POG is up strongly. I feel like when the short capitulate this time, there will be a rather large leg up...but its all just noise in the short term
Mnuchin is now also calling out The Fed on inflation not being transitory.
Presumably they've all filled their boots with physical so now the brakes can come off - let's see ...
50 MDA. 1837.10
200MDA 1837.00
Now let's go!!!
Expect us to respond in the next hour or so the dealers on the other side of the pond know what business Centamin are in, even if London and Europe we are slow! Fingers crossed the precious metals keeps steaming ahead and we will go up fast.
I have suspected for a while, I think hedge funds are long gold or long equities and short gold miners to hedge, could be wrong
Hi Instant,
Yes prudent indeed considering the $22 million involved , then of course there is the 20% unresolved court case share price discount.
It's quite an eye opener the way share holders are worry about predicting the direction of the market over the bext few days, candlesticks, moving averages and all the other pintless ways of preciting the markets diection
And CEY still 103p
Something's not right here.
$1,826 and still rising - I think Blackrock have called it.
There is on reliable way to predict the market unless you are privileged enough to be a member of the upper circle who have control of the market manipulation land government fiscal policy levers!
What hope is there for the future when our government is so corrupt !
Fair comment Red!
Paul - You are very perceptive. :-)