Roundtable Discussion; The Future of Mineral Sands. Watch the video here.
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Great find Siko... RNS 7am tomorrow hopefully with more info
Hi Siko,
I hope that you and your family are well!
Thank you for once again keeping everyone upto speed (in fact ahead of the game) on Egyptian developments, your continued efforts to find out the real facts over the years have given all long term holders support and hope through some very difficult times.
Best
Tibbs
There is no more information out, just what's in the article, but I don't think this has anything to do with the court case to be honest..
The 24 blocks, if true, is very good, considering there were 82 blocks allocated to 11 winning companies.. so Centamin got nearly the third of the blocks..
Will let you know if anything else appears..
@Siko Thanks for that just read it . Sounds very friendly and positive.
Apologies my previous post should have read "a" catalyst not "the" catalyst.
Thanks for fast reply Lodan1- I agree, all sounds very, very positive :-).
One thing I will say, is so far martin hogan seems really impressive. He really strikes me as a man who gets things done and not scared to take the hard decisions for the long term good. I really think centamin are going to flourish under his leadership and really look forward to watching it unfold. Obviously the proof is in the pudding but he seems a good egg so far
I don't know if it involves the cc but it sounds positive. If the resolution of these disputes is the catalyst for further investment in Egypt as martin horgan is apparantly quoted as saying it must be reasonably important disputes.
Thanks Siko
I possibly have missed some of the info here, but in regard to below
"-Petroleum minister: Centamin won 24 blocks in the recent auction and work will start in the coming period.."
Does anyone know where the blocks are, and have a map"
...
19 Nov, 2020
The government of Egypt awarded 82 exploration blocks to 11 companies in an international bidding for mineral exploration concessions as it targets $1 billion in investment in the sector, Reuters reported Nov. 19, citing Petroleum Minister Tarek El-Molla.
Among the companies that received concessions were Centamin PLC, B2Gold Corp., Barrick Gold Corp., Lotus Gold, Red Sea Resources and AKH Gold.
Only 29% of the blocks on auction were awarded, the newswire said.
The next bid round for gold and mineral exploration will start on Nov. 19 and will last for four months.
...
Feb 17, 2021: Egypt has extended by 60 days the deadline to participate in the latest international tender for exploration licenses as the North African country struggles with a second wave of the coronavirus pandemic, with new daily cases on the rise after experiencing a sharp decline in January. Investors now have until May 15 to bid on blocks that will be awarded to the winning companies by September 15 at the latest.
SEPT 15 DATE FOR DECISIONS TO BE MADE RE:ADDITIONAL EPXLORATION BLOCKS....?
best
the Gnome
Wow Siko- is this "the court case" from years ago?
Thanks.
Thanks Siko much appreciated.
Any idea what the "the dispute that has lasted for many years" is?
I read it as accounting isues related to the EMRA CEY account, is that correct?
If it was either of the Court Cases there would have been some mention of the Court agreeing.
Nice find Siko - thanks for info.
Let's hope this translates into more profits, as CEY pays massive amounts to the Egyptian authorities and fuel taxes.
It is great news if it brings to conclusion the court case that has dragged on for many years.
Horgan appears to be moving things forward sensibly, after many years of weak leadership culminating in the West Wall debacle which has forced the company to lower production guidance from Sukari.
Cheers & GLA - CSDI
10/4/2021
https://www.dostor.org/3423341
Please translate the whole article for full details..
During the extraordinary general meeting of Al-Sukary Company (Joint between Centamin and EMRA) , and with the presence of Petroleum Minister, Head of EMRA and Martin Horgan Centamin CEO:
- Petroleum minister solved disputes lasted for the last 15 years and agreed on the basic principles in the coming period in relation to accounts and settlement.
- Mr Horgan praised Egypt for reaching a final agreement.
- Mr Horgan: Solving the dispute, which lasted for years, will give the company the incentive to pump new investments in Egypt.
- Petroleum Minister praised Centamin management for running the only gold mine in Egypt.
-Petroleum minister: Centamin won 24 blocks in the recent auction and work will start in the coming period..
(This information is published in more than one site)