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Cowchain and his sidekick Tibbs don’t listen to info from Cey- part of their remuneration is linked.
Also, directors cannot buy share when they are in possession of privileged, price sensitive info.
Not saying this is definitely the case at this present time, but not known if not either.
All this pair do is diss the company- I suspect Cowchain is bitter having lost so much in this company- he needs to let go.
Cowichan is losing Cred, and face, so getting desperate, though gone far too far ,similar to Tibbles ,his Parrot.
:- ( ,shame on both, ,HA Ha Ha.
Sorry that you're sick , Paul
the reality is there are far more sinister items to post regarding the situation on the ground at Sukari
for example, somebody asked about a 'strike' during the online Investor Forum and Mr Horgan was flummoxed - asking Ross if he'd heard anything about a strike - both denying it
that may be - yet, many Sukari employees on LinkedIn (and by many I mean several dozen +) are outspoken (and maybe rightly so!) about not wanting to support 'Western' companies during this time (read P@listine bomb'ing ) and vowing to boycott US , UK and so forth owned companies - think silent quitting on steroids (google it IYDK)
I know you're sick at the moment, Paul, but can you stomach how this could be a concern for Sukari operations ?
And as for skin in the game - professional analysts , who provide the 'buy' 'hold' 'outperform' ratings - very, very rarely have skin in the game for any of their recommendations - yet , you (or maybe not you, Paul) gladly lap up their glowing reports like a thirsty kitten , meow - meow
Ok we all have our opinions and hopes about this share and most of us have some "skin in the game" and wish some more of the Centamin board did too. However I'm getting pretty sick of someone who does not have any "skin in the game" finding and posting up any negative thing they can find about the share and Egypt. It is such a pity that they were not digging so deeply in the past and giving the warnings about the last lot and the high grading etc.
While I'm on a rant. What is with all the recent Re. Re. Re. posts , rather than actual threads??? It makes things difficult to follow.
To our Aussie contingent. Well done in the cricket and can you spare some of that Glenn Maxwell magic for Centamin?
I still think you were really lucky to retain the Ashes-------and deep down you all know that!
Pity you dont understand what Brics membership will mean.
Tue, 7 November 2023 at 10:29 am GMT-7·5-min read
- at one point when questioned about the soaring price of okra, an Egyptian staple, Sisi suggested they emulate the followers of the prophet Muhammad and “eat leaves”.
“Sisi says that he is not worried that someone will say that a kilo of okra costs 100 Egyptian pounds because Egyptians are aware that “the Companions of the Prophet [pbuh] were trapped with the Messenger in the outskirts of Makkah for 3 years until they ate leaves. They did not ask the Messenger for food or for the earth to explode from beneath them [with riches].”
The tweet refers to the siege against the Muslim by Quraish, it ended with the Prophet’s first wife Khadijah dying and them losing all their wealth. That year is known as the Year of Sorrow and was the worst in the Prophet (pbuh)’s life.
Al-Sisi went on to say that during this time Muslims didn’t complain, suggesting that Egyptians should be patient and not demand immediate solutions.
He has also asked Egyptians to lose weight to save money after the price of fruit and vegetables skyrocketed after the government’s economic reforms slashed food subsidies.
A member of the Egyptian security services Mohamed Mansour said it was “rude” to complain about rising prices and food shortages and asked Egyptians to “sacrifice their dinner” for the sake of the country.
https://uk.news.yahoo.com/egypts-strongman-president-faces-election-172905803.html
------------------------------------>>>>
Does Sisi sound like a credible leader who is fit to navigate an economic catastrophe ? Sounds more like a Saturday Night Live skit...
CAIRO - 7 November 2023: Lieutenant General Engineer Kamel Al-Wazir, Minister of Transport, that the Suez Canal Economic Zone hosts the first real factory for railway industries in partnership with the private sector and the Sovereign Fund of Egypt is a representative of the state.
The minister confirmed that there is no going back from the decision to localize industry in Egypt.
This came during a session on the localization of the transportation industry in Egypt, within the activities of the third day of the International Exhibition and Conference for Smart Transport, Infrastructure and Logistics for the Middle East and Africa TRANSMEA2023.
He added that Egypt strongly focuses on the transportation industries and their localization, pointing out that President Sisi’s directives are clear in this regard, and that Egypt is announced that it will not import buses from abroad and will manufacture them with national companies in cooperation with international companies.
He further explained that at the current stage, Egypt will not contract or import new vehicles. For the railway from abroad, it will be manufactured locally.
He explained that other means of transportation, such as the metro and others, are contracted on the condition of partnership and localization of these industries in Egypt, pointing out that a company such as SEMAF National can, with its capabilities, produce entire metro cars from unassembled black sheet metal and assemble it completely with components from inside and outside Egypt, and there are factories in Europe.
The minister pointed out that there are attempts to manufacture train spark plugs with international companies to manufacture them inside Egypt, and we are also waiting for the manufacture of wheels for wagons, so that we can nationalize all transportation industries in Egypt.
https://www.egypttoday.com/Article/1/128311/Transportation-Minister-No-going-back-from-localizing-industries-in-Egypt
-------------------------------------->>>>
1) Armed Forces Lieutenant appointed Government Minister in charge of nationalizing Egypt's transportation manufacturing industry - doing the exact opposite of what Sisi declares to the world re: selling assets to the private sector
2) Why is Egypt doing the exact opposite of reforms (or trying to) ? The ain't got no money to buy things internationally - they's broke, with no more countries willing to lend them more
CEO Horgan ain't no fool - why put his own 'hard earned' paycheck into Centamin under this worsening economic reality ?
Who is supporting Israel apart from USA and UK, Europe has many politicians not wanting genocide.
The Yadda Yadda , cuting off ones nose, Who´s nose, as you put it ?
Nov 06, 2023, 7:00 PM CST
- Iran has urged OPEC members to halt oil exports to countries supporting Israel, echoing the 1973 oil embargo, which dramatically increased oil prices and altered global economies.
-The call for an embargo is a response to the Israel-Hamas conflict, with the potential to significantly disrupt global oil supply and prices.
-As it now stands, there is every chance of a military or diplomatic misstep occurring in the Israel-Hamas War that may see a widening out of the conflict.
https://oilprice.com/Energy/Crude-Oil/Irans-Proposed-Embargo-Could-Cause-Chaos-In-Oil-Markets.html
---------------------------->>>
if so, cutting off one's nose... yadda yadda
Do you mean Kees Decker ?
From a well respected mining analyst
As I pointed out in my original notes, Centamin management fell behind with waste stripping which ultimately resulted in the pit wall failure. Current management is now fixing that having appointed a mining contractor for the extra stripping.
The company is going through short term hardship, but will be rewarded in the next few years.
I agree with your friends sentiments on Burkina Faso projects, but am not that positive about Doropo. At the indicated grade, it is not really a dripping roast!. It may well be given the go-ahead, but will likely NOT add substantial to company value!
Likely much better to invest in near mine exploration,as turning any discoveries there to account will be much easier and cheaper!
Of course the single asset nature is a draw-back and makes Centamin more risky.
This has however been the case for years on end and did not dissuade many from investing.
Now investors will have to weight this against the improving prospects which the market does not seem to have discounted yet?
It is personal choice call, but in my opinion Centamin now compares well to others. at laest shareholders know their problems, with other miners you don't know!
One can only assume from the reluctance of the CEO & CFO to put some of their own 'Skin in the game" that they are aware at best Doropo will be a mediocre investment, at worst anther money pit that will be abandoned!
Looking back- Seeking Alpha 15 Dec 2021,
Centamin Egypt released its updated life of mine plan last week, with the highlight being a ~1.0 million ounce increase in gold reserves at Sukari, supporting a 12-year mine life.
Meanwhile, the company has increased its cost savings program to $150 million from $100 million previously, with a goal to deliver on this by 2024.
However, while this represented a major boost in reserves,
Centamin uses a much higher average realized gold price assumption than peers, and Doropo production still looks to be years away.
So, while Centamin is a solid company at a reasonable valuation, it is still a single-asset producer and will be until 2025, making it a much riskier bet than its peers.
Investors in the Gold Miners Index (GDX) have endured another rough year, with the ETF down 15% year-to-date. Unfortunately, Centamin (Centamin Egypt) (OTCPK:CELTF), one of the sector's highest-dividend payers, has not been a sanctuary, sliding 33% year-to-date, more than offsetting the mid-single-digit dividend yield. The good news is that the company has recently announced a boost to mineral reserves and seems confident to return to its previous ~500,000-ounce production profile while driving cost savings. However, while Centamin is a decent miner at a reasonable valuation, I see a much higher risk to owning single-asset producers.
Centamin Egypt released an updated reserve report last week, reporting a ~1.0 million-ounce increase in its mineral reserve base to 5.8 million ounces of gold. This was driven by very successful resource conversion underground and changes in the open-pit mine design, with both grade and ounces up sharply vs. the year-end 2020 reserve report. The current mine plan supports a ~460,000-ounce production profile over 12 years, but Centamin appears confident it can beat these figures, and it has the cash position (~$250 million) to support aggressive resource growth and cost savings to combat inflationary pressures. Let's take a closer look below:
https://seekingalpha.com/article/4474841-centamin-stock-potential-takeover-target-if-weakness-persists
Tibbs,
that is the question -
what can be inferred when neither the CEO or CFO are eager to buy , but at the same time encourage the Market and institutional investors to stay for the good times ahead ?
a) do they expect the share price to get more attractive, and will buy then ?
b) do they foresee slower growth , smaller dividends (than holding cash in the bank offers?)
c) are they weighing Egypt political risks and taking a pass ?
d) do they know Doropo is a no go ?
one can only tout Sukari's 'world class' status for so long. Indeed was Sukari ever world class considering the 'real' LOM waste strip ratio & 'actual' LOM AISC are never factored into the equation - the Capital contract stripped out as if it's somehow unreal ?
I'm a bit surprised you didn't start off with 'what is truth?' in your soliloquy
as far as your critique of balanced, i did spend over a decade spreading the gospel of Centamin - and how the business was poised to diversify and grow
but those truths turned out to be false, whether by inadequate data, mismanagement or undeserved reassurances by management -
you know I'm sold out but please remind us of your shareholder status - i believe you owned more than Centamin's CEO & CFO combined , you once commented
is this still true ?
Weekly chart tells us that the breakout on the falling wedge is false if 84.7p does not hold. The position returns back into the falling wedge. The daily has lost 85.7p currently and needs to regains it by the close otherwise it is a false breakout from the falling wedge and remains within it. At some point this month Centamin does rally. The breakout on the daily was held on Monday. Gold 5 hourly was approaching oversold this morning, but the daily and weekly were not oversold.
No I didn't say that the monthly gold sales contract has changed. I just said what I heard when a question was asked and answered during the retail presentation.
Hi Cowichan,
Then why aren't the CEO & CFO keen to pick up a bargain to help the company that is already more than amply rewarding them?
SKIN IN THE GAME
Director share ownership is known as ‘skin in the game’ and means their interests are aligned with shareholders’. Theoretically, if a CEO has a lot of their own money tied up in stock, they may not make reckless decisions which could endanger the business. They enjoy the rewards of good business performance and are punished – alongside normal shareholders – if events turn sour.
https://rb.gy/k28r21
Chief financial officers (CFOs) of public companies are required to report when they buy or sell shares of their company's stock to the Securities and Exchange Commission. This page uses SEC Form 4 data to identify which CFOs are buying shares of their company's stock, indicating they are bullish enough about the company they work for to bet their own money on its future growth.
https://rb.gy/bcosz2
Cowichan, really
You do take yourself very seriously, have you ever asked yourself why? Life is shorter than you think. My comments were a tad frivolous, with a jive at the US hegemony which everyone seems to worship. An exhorbitant privilege as some call it.
Do you consider yourself balanced in your opinions about CEY and its prospects?
Are you positioning for a sainthood, in your revelations?
Dont get me wrong, being Oorstralian, I do like the concept of KEEPING THE BA$TARDS HONEST, and do love to turn the ship upside down to look for barnacles...
Lets get some balance going...
They are trying to position CEY as a Tier ONE gold Co.
They inherit a Geological dream, that was turned into a nightmare by some ... persons one of whom "inherited" another geological dream with Predictive Discovery, and they have gone nowhere slowly, despite being on the of the most exciting discoveries in the last 10 years ,,,,....
Can I challenge you, to tell us why you invest the few years you might have in your life, with your commentary on CEY, which does seem a tad biased?
I backed the horse which ran 2nd in the Melbourne Cup, my Grandaughter cleaned up again as she did last year, adn there were some stunnning fashions as usual ....
https://style.nine.com.au/latest/melbourne-cup-day-2023-fashion-best-looks-celebrities-stylish-outfits/5db3a434-033a-4413-9442-2f0b483c3d87
To stop a nation for a day, for a horse race which lasts 5 minutes ? Irrational dont to you think....
Lets get balanced, CEY are in a fr better position than a few other companies
kind regards
the Gnome
Major European stock exchanges traded lower in the premarket on Tuesday following UBS' earnings, as the investment bank announced its net loss in the third quarter of fiscal 2023 stood at $785 million.
Meanwhile, on the data front today, investors will be looking at the Swiss unemployment rate, German industrial production, the United Kingdom's house prices, and Eurozone producer prices.
The DAX fell 0.27% at 7:42 am CET, while the Euro Stoxx 50 lost 0.33% and the FTSE 100 declined 0.16% at the same time. The CAC 40 decreased 0.47% simultaneously. The euro was down by 0.14% against the dollar at 7:44 am CET, selling for 1.07045. The pound was 0.15% below the greenback and went for 1.23259 concurrently.
Baha Breaking News (BBN) / AY
Long term holders -
- ask yourself why one of your fellow LTHs would dismisses Egypt's resorting to bartering for goods as a 'meh, so what'
- then remember Centamin's own CEO & CFO recently poo pooed the idea of themselves buying more shares at this bargain basement 'below value' price
- is the picture getting clear ?
Nothing wrong with a bit of barter, worked for 1000s of year before the US$ took over ...
(bloomberg) -- egypt wants to keep buying tea from kenya — it just doesn’t want to use up its stash of us dollars, so the country is offering to barter instead.
with a number of countries around the world facing shortages of greenbacks, the world’s biggest exporter of black tea was asked last week if it could trade tea for anything that egypt produces, according to kenyan treasury secretary njuguna ndung’u. speaking at a panel in nairobi on monday, the kenyan official said the request came from egypt’s ambassador.
“right now we cannot get your tea. it’s lying in mombasa because we have no dollars to pay,” ndung’u reported the ambassador as saying, referring to the major kenyan port city. “we’ll get your tea and you also come and decide what you get from us.”
egypt’s foreign ministry didn’t immediately respond to a request for comment.
egypt is kenya’s second biggest buyer of tea, after ****stan. exports to the two markets in the first eight months of 2023 were down 23% and 13% respectively, according to tea board of kenya data.
read more: ****stan, egypt tea drinkers reduce demand for kenyan exports
president william ruto dispatched his agriculture minister to negotiate a similar barter arrangement with ****stan, ndung’u said.
“we are still in a dollar global shortage and that is why countries like egypt and ****stan want to do barter trade,” he said.
https://www.bnnbloomberg.ca/short-of-dollars-kenya-says-egypt-asks-to-barter-for-tea-1.1994640
------------------------------------------->>>>
long term shareholders - please don't be lulled into a stupor by the likes of mizolglit - touting egypt joining brics being some sort of solution -
egypt is entering an economic catastrophe the likes they've never experienced , whether this materially impacts sukari operations is yet to be seen , but ignoring a problem doesn't make it go away
DASUT,
Are you saying the monthly gold sales contract between the CBE and Centamin is no longer in effect? If so please share your source -
On top of that Egypt exports Pharmaceaticals ,Cotton products ,petrochemicals and manufacured goods, plus tourism Suez canal tarrifs and a hub of transport,plus a very popular new inveatment zone for large foreign companies on new industrial estates ,adjacent to Suez as well as in less than 2 months being a full member of BRICS.
Cowichan, Gold up approx 7% in last month and Egypt's valuation increased by about 6% so they might have actually sold some gold? Difficult to know exactly when they applied the valuation of their holdings.
According to Centamin on retail presentation day we were told the Central Bank owes them very little can't remember exactly but low thousands.