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Re: Centamin Plc - Group Resource & Reserve Update 2023,
On first impressions this appears to be encouraging news, however as I'm not a mining analyst I really wasn't sure so I asked someone who has the appropriate mining industry experience for their opinion, Please see their comments below -
"The only important aspect of this announcement is the growth in Reserves of 0.5 Moz at Sukari, which adds at least on more year to the LOM. Just remember the discounted value of an additional year at the end of LOM is much reduced. Say, it extends the LOM from 10 to 11 years. The discounted value at 5% of cash flow in year 11 is 58% the value of the cash flow in year 1."
Very good news it isn't often that you will add another years production in a 2 month period of exploration. the market however aren't interested as the majority appear to be using algorithms that don't read the fine detail.
My thoughts are that they will scrape in with the low end forecast production numbers but with a small profit boost based marginally lower costs and some good gold sale prices. You have got to live in hope!
I am with you on this Rebess, I am dreading the year end annoncement.
Centamin has a habit of snatching defeat from the jaws of victory.
Sadly good news (EDX, end of court case, increase in reserves) doesn't have a positive impact on share price.
Only gold price and ounces, so far shy of 500k and always at the bottom end of range.
Good to have positive news for a change although my jaded-Centamin view will remain on red-alert for now. - I'd like to get 2023 out of the way without an RNS informing of production set-backs. - A few days still to go. - I hope this isn't a set-up to cushion bad news. - Paranoid or what? :)
Yep- looks good to me :-). Here’s hoping market agrees Razor :-)
Https://www.marketwatch.com/story/centamin-s-gold-reserves-rise-significantly-063d10d3
I think there is a tremendous amount of sceptiscism in the younger generation, as to what the market is about, and just how efficient and trasparent it is....contrary to their reputation for being a generation of spenders – 43 per cent of millennials are investing their money, with property and shares revealed as the most favoured investments. And those that are going into shares are going into ETFs in a large way, with a minor investment into the Junior Exploration "Casino"..high risk bet on the winner in a sector full of losers and loose governance, with a probability of success of 1/10,000....they are not really that stupid, the ones I know, diversify well, are sceptical, ...
Used of things going up, sure process go up every day, and they are told inflation is 5 or 10%, what a joke...
The reason prices go up, is the value of the fiat is going down ... an they all get that very well. They look at the leadership in the government, and decide there is not much there to invest in, and the corporates tend to look after themselves first second etc ....
good luck go gold
~the Gnome
European stock indexes were in a upward trend during premarket trading on Tuesday, as investors awaited the release of the latest Eurozone inflation data later in the session.
The German DAX gained 0.12% at 8:05 am CET and the UK's FTSE 100 rose by 0.06% at the same time. France's CAC 40 was 0.23% higher while the Euro Stoxx 50 increased by 0.31%.
The euro was 0.06% up versus the dollar at 8:04 am CET to sell for 1.09254. At the same time, the pound sterling added 0.08% against the greenback to sell for 1.26565.
Baha Breaking News (BBN) / RR
Reserves increased by 28% to 7.7Moz, including 10% growth at Sukari versus new life of mine plan
https://www.lse.co.uk/rns/CEY/group-resource-reserve-update-2023-qamgt0f0kbgv2u1.html
This made a lot of sense to me. I like grant williams, whether you agree with him or not, he expresses his views very clearly.
https://www.youtube.com/watch?v=BHQpVMsm5d4
But then, it wouldn’t make sense to have sold off a tranche a few months ago. Let’s see, if anything, the whole play is interesting and there’s been plenty of trading opportunities over the past weeks.
There are restrictions on directors buys when in possession of facts that are likely to move the SP... just a thought... here's hoping it's the new gold.
Hi Dasut,
Thank you as always for sharing you opinion , which based on what we know of Horgan's past tactics and what operational information is available seems very reasonable and I am inclined to agree with you.
The board of directors have displayed little confidence in purchasing shares, since Horgan sold a lump of his own a little while back, at around 91p. I would have expected more action from them around the 75p mark, if news was looking good. But let’s see.
The mine works 24 hours a day and I believe for 365 days per year as not sure they even close for Christmas day given the very varied religious groups that are employed. Buster if you have visited the mine more recently than I you might be able to confirm or otherwise. By now I would suggest management will have a very good idea of 4th Qtr. production given only 13 or maybe 12 days to go.
Horgan taking time out to attend the talks in Saudi says to me that he is quite relaxed about the situation and maybe we will get an early taste of things to come when he speaks.
You need to visit the mine and you will believe in them Hills , Once the results come back we will go well north of here .
Gold price will take off as well next year as Yanks lower rates , Bailey talks bollocjks but will follow Yanks as no choice .
Https://www.marketwatch.com/economy-politics/calendar
Although I trade here with CEY on economic data as I'm not a mining expert, my obvious view is that I think will hit the lower end guidance for the year- catching up as CEY stated it would in Q4.
I also think the I think it is likely that the RNS update on the new gold is most likely to appear with these results.
If the guidance is missed but the new gold is good, will mitigate hopefully. Missing both will be bad. Hitting both will, of course be good.
I have no knowledge of any of this, other than what's in the public domain.
GLA.
"Cyber Security Incident" at BIG Online Precious Metals Dealer!"
https://www.youtube.com/watch?v=m4xWX6OUjos
It seems that attacks like this are all too common on the metals markets!
From CFTC FEB 02nd 2023
"Cyber Security Incident" at BIG Online Precious Metals Dealer!
https://www.youtube.com/watch?v=jWepW3omFSk
The JM Bullion data breach could easily be the most expensive data breach. How can we call this one of the biggest data breaches of history? Read more below to find out.
https://seersco.com/blogs/jm-bullion-most-expensive-data-breach/
Major indexes in Europe fell in premarket trading on Monday as investors focused on rising geopolitical tensions after North Korea fired two missiles, one of which was an intercontinental ballistic missile (ICBM) with the potential to reach any part of the United States, according to Japan.
The Euro Stoxx 50 lost 0.26% at 8:01 am CET, the DAX declined 0.21%, the CAC 40 was down 0.20% and the FTSE 100 decreased 0.21% at the same time.
The euro gained 0.21% against the dollar to sell for 1.09165 at 8:02 am CET and the pound added 0.12% compared to the greenback to go for 1.26889 at the same time.
Baha Breaking News (BBN) / NP
Happy Monday & Christmas week y’al
Gold currently $2023.33
Kitco is just down temporarily as a result a cyber attack:
https://www.kitco.com/index.html
Good, lets hope Horgan strikes a deal with the Saudis for joint development of EDX that is risk free for shareholders.
The Fed Just Sold US To BlackRock & BlackStone!
https://www.youtube.com/watch?v=E8oC0H2JFZM
Ciiti not the only US big bank having trouble complying with Basel 3
https://www.cfodive.com/news/citi-cuts-multiple-cfo-roles-restructuring-mark-mason/701868/
Https://www.cnbc.com/2023/12/15/citigroup-employees-told-they-can-work-remotely-until-new-year.html
https://www.youtube.com/watch?v=Bc992HJlV7I
Dan