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Cowichan ...can you start a thread headed up Questions for Centamin , so we can all see what the questions we all have are .
I would if I could but for some reason it won't allow me .
I will be asking them 3 questions tomorrow via the email link but it would be good if I can share them with all others on the board and for us all to see each others .
Thanks .
As have said many times the PR are there to filter the CEO.
He has more important problems to answer to.
Imho
Don the photo was innappcente ,it was taking the ****. A baboon, that was sitting on a drilling machine,
That's going to far,. It appeared Capitol Drilling is incompetente. Sorry to disagree.
I am sure I will get voted against ,but that is my opinion.
IMHO.
I'm sure others will disagree with me.
So what!
For those who might think I have not yet put my questions to Martin Horgan - I most definitely have - multiple times over many months -just as I suspect have others. Centamin has my personal details, email and personal cell phone number. Heck ,there's probably even a PI driving around my flat as we speak...
Why not put that question in writing for the attention of Martin Horgan CEO?
Hi Cowichan,
Social media can be unreliable and it attracts many posters who have ulterior motives or hidden agenda's ,so it's possibly why the company is reluctant to get drawn into discussions via Twitter or facebook which may lead to misunderstandings.
Yes I take your point ..I recognise that certain questions could damage legitimate areas of commercial sensitivity if they were answered , which none of us would want , but maybe they just like to hide behind this .
I read that as being $37 million spent on exploration but it doesn't say anything about what the reserves of that asset are. What have we got to physically sell?
I don't have a twitter account, but when a company starts getting shirty with someone who has repeatedly asked a perfectly reasonable question, I start thinking there may be something sinister going on - although I'm not suggesting there is. The only way a company can redeem itself from the situation is to be honest and answer the question. Otherwise, it will continue to be held in a dim light.
They are looking for a buyer because the $37 million investment doesn't pass their internal hurdle rate of return .
My problem with it though , was that it was announced as if it was a success, on their 27th May regulatory notice because of its potential , but in the next paragraph it was disclosed that it hadn't met the investment criteria , or put another way ..it wasn't a success. They are hoping to be able to dispose of it for at least the amount they have spent on it which is $37 million . If they can't , then there could be up to $37 million of expenditure which would have to be aborted but that would be the worst case and an unlikely scenario. It is quite possible that some of it might have to be written off though
Cowichan .. I think you can pick up this information in the interim accounts .
The Consolidated statement of Financial position as at 30th June, shows that at the moment there is cumulative exploration and evaluation expenditure incurred Of $76.2million. .. this is held as an asset because it is deemed to be likely to result in additional gold reserves being discovered in the future, resulting from this expenditure .
The amount of this expenditure pertaining to the Burkina Faso project, which is being held for sale is $37 million ..this is shown as a current asset and represents how much has been spent and will (hopefully) be recoverable from its disposal .
You can see a more detailed breakdown in section 2.8 of the notes
Hope this helps .
At Centamin, we have a zero tolerance for disrespect. We would like to ask that you respect that and delete this post.
As you know, we have reached out on numerous occasions to address your queries. If you have any questions, please email us at investor@centaminplc.com
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My Reply:
Thank you FiFiz - the disrespect is with Centamin's management for refusing to answer a very simple question that ALL shareholders deserve to have answered - we've asked the same question for YEARS - what IS there to hide?
@TheFCA
@OSC_News
@BlackRock_UK
@vaneck_au
@Schroders_UK
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The thing is Centamin has reached out on several occasions - with a reply that doesn't answer the question! So what's the sense of them advising me to send my question to an email address YET AGAIN? Total BS. Just address the issue - answer the question and stop pretending that some great offense has been made in a Twitter post that is obviously (and purposefully) cheeky.
I did get one anonymous supporter chime in (and I wish I could personally thank him/her for that support!)
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Don Lawson has tried on numerous occasions to obtain information on the Burkino Faso assets especially as it appears they are to be sold off. - Just provide the information Centamin without making such a fuss. - What's up? - Are you trying to hide something?
https://twitter.com/FiFiz26537743/status/1439962143915393024