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Currently + .64% at $1940.87
Long time until 8am though
well i did say it's all about the fed this week - it's all about the commentary that drives sentiment- the commentary and analysis drives things- will see how it ends up 08:00 tomorrow
What the hell caused that spike in POG. Outside of Comex trading period. Some leak as to Central Banks positions. The market always knows before retail investors. Interesting day tomorrow . That is unless a gap to create a shorting position to Institutional Investors to shear the retail sheep. Fascinating stuff. No Geopolitical reason I can see at this time.
No nothing Bob
like i said- powell, the fed - sorry to bang on every month like a broken record- but data points and markets it's really that simple - the hard bit is knowing which way!
And they don't know before retail investors- the fed always speak at this time -
if your in USA markets it's within trading hours for example and of course the 24*7 crypto world and of course, you can cfd the gold price easily if you wish
Just broken through $1950
Finished at $1966. hopefully holds up overnight in the Asian markets. if it does, we should get a nice little bump tommorow hopefully! Think CEY was holding off for the fed speach....
Price of gold up nicely again but does nothing for the centamin proce as we still remain at mid December levels when gold was $90 lowered than today.
Quite an amazing drop from 126 when golds been appreciating in price.
I’m puzzled myself why the Goldie’s are down in Europe, barric gold gained 2% last night…
Agree- expected a much better climb today but the day is but young here in u.k. But annoying, all my other stocks are up more eg non mining and my even my crypto portfolio's up ~40% year to date - come on cey, get with the game
Steve, CEY is a funny share, I remember back in 2013 to 2015 gold just kept dropping for around 18 months but over that period cey managed to double in price so it's not always the gold price that moves cey
Hi Ken & Patry,
I don't know how long you have both been invested in Centamin, so as a long term holder perhaps I can enlighten you the reason why Centamin is languishing at this level, loss of market confidence in the integrity and ability of the company to deliver what it promises and a huge increase in AISC!
This has been brought about by the previous management,including Andrew Pardey, & Youssef El Raghy intentionally using bad mining practice in the running of the Sukari mine to boost guidance and using ongoing media publication for the short term of what they knew to be unsustainable and for the most part unachievable guidance since at leat 2015, despite twice being warned of the consequences until a narrowly avoided pit wall collapse in 2020 exposed the cracks under the gloss!
This fiasco necessitated the appointment of a new and very experienced mining professional Martin Horgan as CEO who with his new team are having to totally reshape the Sukari operation for which we shareholders are paying a heavy price of around $460 m!
This is why we are where we are, it just fortunate that the POG is where it is otherwise things would be very much worse!
When will things really get better, well that's the question we all want the answer to!
At the moment Im not worried if the price of the share doesnt go up with the price of gold. At least the company will be making a profit and we might see a bigger dividend. If you are reinvesting the divi then you get more shares for your money.
If you do not get a dividend from a share then really the price is a pyramid scheme! Look at Ocado. I dont think they have ever paid a dividend but the share price went into the highg£20's !!???? before coming back down to to below £5 ( I think). It is now around £7. Some people will have bought low and sold on the way up to the £20's (was it £28?) and some will have bought at that price and have lost out a lot.
I bought some shares here before the wall thing happened, when there was talk of £3 a share. So i bought some at over £2. It is highly unlikely that we will see that price in the near future, so I have probably lost out even taking the dividends into account. I reinvested the last dividend in the mid 80's , so if at some point I decide to sell some of them (at hopefully nearer £2 than £1!) then I will be in front and had the dividends as well.
Years ago there was someone on here who seemed to do well buying and selling on the rises and drops, but he got out around 55p. We are now double that and have had about 8 years of dividends.
So swings and roundabouts for some of the day traders as well.
Mr T, thank you for your explanation allways an interesting read when you post so take no notice of them that don't like your posts.
Flog that horse Mr T, one day you will resurrect it.
I find it amusing that you put yourself forward as a long term holder & therefore an expert.
You certainly have not been in this share for a long time compared to those of us who invested well before Centamin was listed in the UK.
As for your expertise, your one-eyed, ill-informed comments speak for themselves - your constant attempts to indoctrinate unsuspecting people with your baseless and frankly moronic repetitions suggest that either you have ulterior motives or you are just a bitter individual looking for a scapegoat for your poor investment decisions.
Quite an outburst of Vitriol Spoonington!
Being invested in the company since it was first listed on the London stock exchange entitles me to be regarded as a long erm holder.
It is only right that new investors who enquire should be informed honestly of why the share price is languishing where it is!
https://seekingalpha.com/article/3695246-centamin-get-out-while-going-is-good
Some of the past Egyptian media baloney,
CAIRO – 2 November 2017: The Sukari gold mine targets producing 600,000 ounces of gold in 2018, up from 540,000 ounces in the current year, Chairman of mineral exploration and mining company Centamin Egypt Youssef el-Raghy said Thursday.
https://www.egypttoday.com/Article/3/30602/Sukari-to-produce-600-000-ounces-of-gold-in-2018
Looking back !
Dec. 19, 2018 10:45 AM ETCentamin plc (CELTF), CEE:CA2 Comments
Summary
Grades are dropping significantly at the Sukari Mine of Centamin, far below planned reserve grades.
They are soon starting up underground.
The stock seems overvalued on a NPV5 basis.
https://seekingalpha.com/article/4229201-kees-dekker-reviews-centamin-plc-analysis
Nov 2015
https://seekingalpha.com/article/3695246-centamin-get-out-while-going-is-good
Hardly a glowing account of the competence or integrity of the management prior to the appointment Martin Horgan!
Mrtibbles, for sometimes I believe that Centamin is still producing the said amount of gold, but where is the Different between the actual and the announced? I am not sure, since the government of Egypt was announced the increase of their reserve gold be my guess, and no wonder Youssef el-Raghy left the company.
GLTA,
Dan
Gold chart gaps closed. Made my first ISA CEY buy just above 109. Small tranche. Keeping CEY only in ISA.
Hi Dansul,
Re production is jointly monitored and audited by the company and on site EMRA officials so it would be impossible to manipulate the total annual production,
All gold that passes through Cairo airport cannot be Centamin’s. there is gold from Marsa Alam, but there are also artisanal workers who go to Cairo to sell their goods, which also gets melted down into dore and exported for refining as there is no refining in country.
Youssef was in post because of who he was, not because of his mining expertise or his suitably for the job, he has gone because after the mess he has helped create his position was untenable!
Spoonington, you make some wildly inaccurate assumptions and accusation concerning me and I have certainly never professed to be a mining expert!
What I have posted are the reasons with supporting evidence of why Centamin is where it is today and as far as I am aware their is no evidence to the contrary, or at least you haven't and in fact never have posted any evidence or facts to prove your argument which appears based on the old pals act and looking backward through rose coloured spectacles!
I appreciate that there are "Sheeple" who desperately hope that by holding their breath and by ignoring the evidence of the past failings of the previous management that that the market will be fooled into suddenly trusting the company, it won't, not until there is some real evidence that the AISC is reduced dramatically and that a respectable and sustainable level of guidance is achieved.
Cenatmin is on its **** in the last stop saloon because the Sukari operation wasn't being run using best and appropriate mining practice but instead by short term profiteering practice which has now been exposed!
As soon as the US opened up POG was spanked!