London South East prides itself on its community spirit, and in order to keep the chat section problem free, we ask all members to follow these simple rules. In these rules, we refer to ourselves as "we", "us", "our". The user of the website is referred to as "you" and "your".
By posting on our share chat boards you are agreeing to the following:
The IP address of all posts is recorded to aid in enforcing these conditions. As a user you agree to any information you have entered being stored in a database. You agree that we have the right to remove, edit, move or close any topic or board at any time should we see fit. You agree that we have the right to remove any post without notice. You agree that we have the right to suspend your account without notice.
Please note some users may not behave properly and may post content that is misleading, untrue or offensive.
It is not possible for us to fully monitor all content all of the time but where we have actually received notice of any content that is potentially misleading, untrue, offensive, unlawful, infringes third party rights or is potentially in breach of these terms and conditions, then we will review such content, decide whether to remove it from this website and act accordingly.
Premium Members are members that have a premium subscription with London South East. You can subscribe here.
London South East does not endorse such members, and posts should not be construed as advice and represent the opinions of the authors, not those of London South East Ltd, or its affiliates.
- Bristow says Barrick is looking to buy copper assets and wants to focus on areas that some rivals find forbidding.
“These are clearly countries where we have a competitive advantage over traditional copper miners from the Western world that are too scared to go to those countries,” he said. “We are comfortable in the African environment.”
- Barrick aims to boost its gold production to 4.8 million ounces annually by the end of decade
- The company says it owns or has stakes in six of the 10 top gold mines in the world—defined as those with at least 500,000 ounces of annual production, a 10-year reserve life or more and below-average costs globally
“If you’re going to run a world- class business, you have to be global and Barrick is global,” Bristow said. “You can’t keep running back to the safe havens in the world. Some of the assets are not going to be in perfect addresses.”
- Operating in Africa, the developing world –and anywhere — means forging ties with political leaders and employing local people at the mines and as managers
* “In every single country in which we operate, I know the leader of that country personally—except for the U.S. I can pick up the phone and call them or send them a WhatsApp or email and they will respond to me because we have built a relationship.”
- Bristow, a swashbuckling South African who likes big-game hunting, keeps a punishing travel schedule, visiting each one of Barrick’s 17 global mines each quarter over a six-week period.
“We start in North America and go to Africa and then Papua New Guinea and then to Argentina and Chile and up to the Dominican Republic and come back to Toronto for the quarterly” results, he said.
** He wants Barrick’s directors to see the operations and holds two board meetings a year at a mine.
---------------------------------->>>>
*I wonder, does Bristow already have President Sisi's number in his phone?
**Also, I like the idea of holding board meetings at a mine site - as long at the BOD's fly commercial of course
Bristow must be the most informed & hands-on CEO in the mining industry if the above travel details are indeed true
https://www.barrons.com/articles/why-barrick-golds-ceo-is-looking-to-boost-its-copper-business-51645281013?redirect=amp
Hi Cowichan,
Although I abhor Bristow's big game hunting hobby (Hunter has an overwhelming advantage) and I suspect the man to have narcissistic tendencies , I have agree he is absolutely right about wanting BOD & NED's to make site visits on a regular basis!
If only the Centamin BOD & NED's had taken the trouble to visit Sukari after the warning's of 2015 and 2018 they would have been aware of the failure to put in place fit for purpose waste management and most probably saved the $260 million clear up bill and the 60% reduction in the share price!
BOD visiting mines is highly recommended if they involve and listen to local management. Also excellent if the BOD understand more than just the fundamentals as the answer to success is in the details. Unfortunately BOD's are comprised of financial corporate types "Gucci miners" not too many hands on grassroot types.
Examples Geologists aren't mining engineers and mining engineers aren't muck shifters and muck shifters aren't mining engineers, accountants, political appointees aren't any of these. Would any of these understand that there has been high grading practices I very much doubt it until it became obvious.
I have in the past had detailed discussions with Mining General Managers who are excellent in MIning technologies much of which I hadn't a clue and often needed my own mining engineer on the team to explain acting as an interpreter. Much of the problems being communication and open pit mining as an example isn't that difficult providing the guy on the digger understands where to dig and the truck driver knows where to go. OK very basic because considerably more required such as maintaining haul roads, compacting waste dumps, pit layout etc. Where it goes wrong is prior to the the guy on the digger being told where to dig.
So on the surface it all looks good until you are backed into a corner which is where Centamin found themselves and now having to dig themselves out of the hole.
So at the end of the day it needs someone who understands Mining engineering, geology and material movement and from what I hear Martin Horgan has a team around him that understands all of the nuances. So would suggest he has individuals targeting the weaknesses getting back to the basics.
Cowichan am I worried about the seismic report yes would be great to get a response from someone in authority even though the information might be difficult to understand, is this a priority I am not sure, as I would prefer the management concentrate on getting the major asset back on track.
Won't be long now until you can phone in your question(s) to the board.
Interesting post. Martin has noticeably built a team, which he needs to help him deliver. Smart. Notg unique.
Delivery of a stripping problem will not happen overnight.
I won't waste time on discussing the shortcomings of the previous "management ", but there were issues. Suggest look at where they have re-appeared, and AVOID
I do suggest doing your own research, and tuning in...Centamin will announce its audited financial results for the twelve months ended 31 December 2021 on Wednesday, 16 March 2022.
Good Luck, and what a heap of rubbish on the Ukraine, a truly pathetic effort! on both sides !!! The usual players play the usual song, to justify standing armies of poor people, coerced to shoot other poor people, and we call it a war and on it goes ....
The great thing about today is one can see beyond the ideas of the western mess (sorry press)
https://www.youtube.com/watch?v=jrGLhhTtxFU&t=1428s
One would know what is important in ones life. Remarkably little. Least of all the "news" on the BBC, CBNC, RT, and the
rest
good luck and good night
the Gnome
Hi Mr Gnome,
Mainstream news is much the same repeated over and over any 24 hrs.
Through the night I listen to https://www.bbc.co.uk/programmes/p016tl04 which gives a much more informative view of different parts of the world .
What pity that the BOD never questioned why waste clearance wasn't taking place even when it was obvious from the problems of 2015 & 2018 that all wasn't as well as was being claimed by Pardey.
Pretty obvious that investors are already doing their own research, but possibly on the wrong sites, so which ones should they use?
Thank you Dasut for your well informed and valued summing up of the situation!
Gold gnome,, I greatly appreciate your posts from down under on Centamin, inflation and gold, but it is deeply depressing to read you and others lambasting the fourth estate. Contrary to your opinion there have been some excellent and pertinent analysis of Ukraine from the FT to the Telegraph the BBC the Spectator NYT etc, and they have been entirely right about Ukraine, including fascinating well researched long essays about its history. Without them we too might live in a Putin world. Steven Bannon and Dominic Cummings have very sadly won if you no longer believe in the news but conflate their online fake news with the serious press and thus no longer believe it or its importance. So I say thank you to their journalists, mor and more of whom are killed by dictators around the world. They are vital for freedom and for this board, ie to make investment decisions, and their reports over the last week have led me to buy more gold shares so this discussion is pertinant.
This incidentally is your post a week ago about how they were making up
“Another All-Time Media Faceplant !!?
After the Biden administration and the press wrongly predicted a Russian invasion of Ukraine on February 16th, they kept compounding the error in spectacular fashion..and why not...havent they anything better to do?
“It was a joke, you idiots.”
If cluelessness, can be art? or fart??, American journalists unveiled their Sistine Chapel this week, in a remarkable collection of misreports and hack stenography surrounding a predicted invasion of Ukraine.” and yesterday “ Least of all the "news" on the BBC, CBNC, RT, and the
rest”. Shame on you and the attackers of liberal democracy, along with the press that has enabled and supported it from Jonathan Swift to Daniel Defoe, the broadsheet to our ancient magazines and yes the increasingly underfunded BBC that all enable us to see fake news here, it may not be perfect but has enabled me to live 70 years without having to fight, enough to eat, freedom to travel the globe and fulfil my life as I wish, at least in the U.K.
Thanks Sotolo.
I am admitting I know very little about the Ukraine. I feel very sorry for the innocent people who want to live a normal life there. I would think the most reasonable way to solve this is to get the politicians and ideologues, all herded into a 10km2 paddock, given weapons of reasonable choice and mobile phone taken away from them, and are told, may the they solve their differences as best they can with the resources they have at hand and perhaps get them to show some planning and management skills, and set some time lines and a gantt diagram.
I know I am very distrustful of media generally, whether it be "mass" or "social.
There has been enormous distrust built up around some of the propaganda, in terms of its origins, its broadcast, management, controls etc. Goes back to the work of Edward Debares in the 1920's ...
https://www.youtube.com/watch?v=RfTgAlpw8zY
https://theconversation.com/the-manipulation-of-the-american-mind-edward-bernays-and-the-birth-of-public-relations-44393
I am not saying there are not "good journalists" which is a ridiculous claim. Good journalists can be compromised by "management.", at least for a while. Its the "systematic journalism" that is the issue. Propaganda. Marketing.
Good luck to us all,
the gnome
The USA wouldn't let nuclear weapons on their doorstep, remember the Bay of Pigs, why should Russia? Talking wasn't working, the US always had an agenda to increase their power as per usual you can't negotiate with the Americans, Putin was pushed into a corner. Look at NATO's expansion eastwards over the past 30yrs and you might be able to understand there's two sides to every story..
Fair comments Halfpenny, problem is that so many of the people soon forget history or are ignorant of it and so it repeats itself.
Our present UK Cabinet is amateurish and lacking in diplomatic skills and since Brexit has lost international influence.
The UN should have been more involved in averting the present crisis, Johnson's helmets and armaments donations to Ukraine were an expensive, stupid and pointless gesture, Truss was regraded as a joke, it is a shame for Ukraine and indeed for the rest of the world!
Hi Sotolo,
Well said, for a really excellent thought provoking summing up!
Tibbs
Tibbs the truth is you are a really decent man, I try to be, sometimes we see things differently with you preferring to see the positive in Cey which is admirable, while I have always interrogated the negatives on anything I’ve worked on, thinking the positives will then take care of themselves, but in essence we both have our feet on the same ground, both our views I hope help here but most of all in an increasingly divided, opinionated and intransigent world tolerance and decency as with so many here are increasingly important. Thanks Tibbs, you cheered me up on a very grey morning.
Ps very weird just now seeing the gold price
1944-1945
And thinking back to those years in Ukraine, that back then had barely survived 6m starved to death by Stalin in the 30’s, then more again with the German occupation, and then both fighting over it in those years.
You are welcome Sotolo,
The majority of the forum members are genuine decent people, unfortunately we were all far too trusting of the previous management and got taken advantage of!
Got out of here at 101.3 and into IAG. GL to all holders. I hope it gets back to its previous highs for you all