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It would be prudent to push the issue while the iron us hot IMHO.
Egyptian authorities want progression from CEY, so get them to seek friends in the Egyptian courts who an expedite a simple fuel duty resolution.
Good business is often conducted using mutually beneficial timeframes.
The outstanding diesel subsidy dispute appears in danger of vanishing in the mists of time of the Egyptian legal system unless shareholders, especially recent ones are made aware of it from time to time!
I understand that Centamin would have preferred to leave this to their legal team to deal with in the Egyptian courts, but that said the courts always seem to have more pressing issues to deal with or simply prefer to kick the legal can down the road for another few years!
Centamin and indeed its shareholders have been more than patient and more than reasonable and its time that this issue was dealt with.
The disputed amount $22 million or so would be rather handy now to cover the cost of open pit clearance and other expenses,
I asked Andrew Pardey about this on several occasions and his reply (When I could get an answer that is) was "These things take in the Egyptian courts!".
As a very patient Centamin shareholder of over decade I am well aware that certain things do indeed take time in the Egyptian court system, especially so it seems if the case is anything to do with Centamin, this invariably leads to yet another adjournment of the case after which then judge involved seeks refuge behind some sort of legal parapet (SCC & Law 32) and keeps their head down in the hope that they may never have to commit themselves to any verdict at all!
However, after enduring eight years or so of the “Mad hatters tea party" antics of the Egyptian legal industry (system)is it not time to take the issue seriously?
By now the international court could have dealt with the issue twice over, so why not refer the case to the international court for a decision?
It must surely be preferable to the present state of Egyptian legal system comatose and at least a decision would be reached possibly even in favour of Centamin!
Some light reading while we wait.
https://moneyweek.com/investments/commodities/gold/603559/gold-price-pounds-sterling-disappointing-year
The best I can do is buy gold and Centamin when I think they are cheap. They are cheap now, but can get cheaper (I suppose). I have enough Centamin, but will reinvest all those dividends. I wouldn't mind some more gold and to get some silver, though.
Sylvania Platinum could be on the cards as well, at some stage.
CPI inflation is 2.5%.
I think Jim Royle would have something to say about that.
MrTibbles,I wholeheartedly concur with your post, directly preceding this one; I , normally invested in mining companies with much lower MC than CEY, have yet to experience a surge in SP instigated by RNSs announcing acquisition/s of new licence/s. They are invariably perceived as good in the long term, yet funding requirements weigh on the present appetite for investment. If they do, however, Lead to $22M US, in contra charges, credit notes, or whatever it might be called, in lieu of fuel duty overpaid, then we could experience a bounce The current trend, being untouched by the recent strength in POG, however, is not encouraging Although we have no RNS released yet on the matter, I'm sure the terms of the new licences are widely anticipated by the market and CEY is pricing itself accordingly.IE
Sorry, Wrong Thread.
MrTibbles, I wholeheartedly concur with your post, directly preceding this one; I , normally invested in mining companies with much lower MC than CEY, have yet to experience a surge in SP instigated by RNSs announcing acquisition/s of new licence/s. They are invariably perceived as good in the long term, yet funding requirements weigh on the present appetite for investment.lf they do, however, lead to $22M US, in contra charges, credit notes, or whatever it might be called, in lieu of fuel duty overpaid, then we could experience a bounce .
The current trend, being untouched by the recent strength in POG, however, is not encouraging.
Although we have no RNS released yet on the matter, I'm sure the terms of the new licences are widely anticipated by the market and CEY is pricing itself accordingly.
Rebess that one made me laugh. I could almost hear the gritted teeth. Yes we have been through a lot on here but hopefully things will start working out properly now, rather having than the false dawns, "material inaccuracies" and dodgy figures and practices of the past.
By the way, does anyone remember what the predicted dividend is for later in the year AND/OR total for the year?
Exactly Steve, no one has a clue, least of all the so called pundits, who not only mostly get it wrong but sometimes intentionally as they have their own agenda. The real key is to find a miner with low costs, a healthy balance sheet and long mine life. Once we get the first right we will ride out any gold swings, roll on Centamin 2023
Sotolo, the same experts last year were touting gold over USD2,500 as it rose this time last year, and were lauding Warren Buffet for being a genius for going back in... no one knows...
Equities on major European stock exchanges were lower in premarket trade on Wednesday as traders digested the economic data report on inflation in the United Kingdom and awaited the industrial production data for the Eurozone. Later in the day, ECB Executive Board member Isabel Schnabel is set to deliver a speech.
The DAX lost 0.21%, London's FTSE 100 decreased by 0.12% and the CAC 40 declined 0.22% at 8:00 am CET.
The euro was up 0.10% compared to the dollar at 8:01 am CET, trading at 1.17883. The British pound rose by 0.19% against the American currency, going for 1.38380 concurrently.
Breaking the News / MS
Today's MDAs
50 MDA. 1836.90
200MDA 1837.00
Do we're basically 0.10 away and $1813 ATM.
I am no chartist, however thus could set the new resistance here and head up into a different trading range now.
And I thought chartists loved Golden Crosses.
Gotta be this week if the current trend continues.
bonker, may be famous last words, or not. Most commentators and chartist seem to think gold will continue falling as it has been now for almost a year since it’s peak, it has certainly been in a very narrow trading range, coiling like a spring, so is likely to shoot out ones way or the or the other. As most people seem to think it will be down hopefully they will be confounded and it will go up but I wouldn’t bank on it, so as you said maybe famous last words…or not
New Contract s in place - lots more to come on success, crypto taking a hit today where the Police have been taking large amounts found as laundered cash, and Gold will suddenly become more popular again - happy days for us shareholders. We should also see some more gains towards the next set of results due very soon. The futures bright -the futures Gold!
Now that's not a good sell call at 82p
I agree, seeing this more and more with companies where there is potentially price sensitive information not published via RNS
Whats Centamin's value in the 4 contracts at $17million. I'm thinking there is a minimum amount that would usually be RNS'd to the market if this falls below this amount in might just come under 'news'
My understanding of signing a contract is that in signing, both sides have agreed terms and are contractually obligated to meet said terms and conditions, no ifs or buts. - That's it, the deal is done, you don't sign if it isn't. - There's no doubt that contracts have been signed, it's writ large in the Egyptian news with supporting video evidence. So, let's have the details please.
Collapsed finance group Greensill Capital paid the former Prime Minister a salary of more than $1m (£722,000) a year to lobby government ministers and officials on behalf of the firm.
Cameron was contracted to work 25 days a year as an adviser to the board, meaning his daily take home earnings amounted to more than $40,000, the Financial Times first reported, citing people familiar with the matter.
The hefty pay package made him one of the highest earners at Greensill, earning far more than career bankers with decades of experience.https://www.cityam.com/david-cameron-earned-more-than-1m-a-year-as-greensill-lobbyist/
Nails on the head Razor's!
Clearly the Egyptian government want to provide positive progress with these licenses and what has happened is only a precursor to a formal agreement being made, which is legally binding (and both parties are agreed on).
Centamin are not there yet, but I understand the intention is to announce when all of this has been properly bedded down!
As we well appreccite this is not the first or the last time that news comes out of Egypt before everything has been agreed to the satisfaction of all parties!
Just taken a final top up here. I'll just sit and wait now.
Well I guess we can safely assume that Gold isn't going to drop anytime soon - famous last words - and I'm still expecting $2,500 this time next year ...
Went up initially
CPI 0.9%, Exp. 0.5%
Core CPI 09%, Exp. 0.4%
CPI Y/Y 5.4%, Exp. 4.9%
Core CPI Y/Y 4.5%, Exp. 4.0%
They're still battering gold down/sideways off the back of THOSE numbers.
It's nothing but outright theft.
Since CPI Figures came out at 5.4 , above expectations