Rainbow Rare Earths Phalaborwa project shaping up to be one of the lowest cost producers globally. Watch the video here.
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Https://www.centamin.com/media/2999/cey-rns_-3q23-quarterly_final_191023.pdf
Quick scan looks as expected- now it’s up to the market so no idea.
No worries Ken23.
Q3-
As expected which means a a good catchup required in Q4 required to make up the difference, but stated this will be done - but of course, this was already known.
Well just a quick look and the market doesn't like it. I said last week i was expecting a bit of a spanking, even though it was announced last week that the oz's mined was lower. I am not brave enough to get out / or have enough shares to get out and back in before an update-------even though I cannot remember a recent update causing the price to go up.
Lets hope the price makes a bit of a comeback later today.
One thing I did notice in the update was this.
Doropo Gold Project definitive feasibility study (mid-2024) -------------I'm assuming that will mean the decision will be made one way of another to progress or not? Any thoughts on that.
I'd be interested to hear from Dasut and Sotolo on their thoughts for the next 6 months and maybe until the end of 2024.
Any good news anyone? :-)
Hi Paul,
Its been so long since we had some really good news that I no longer expect it,although should we get some it would be fantastic!
If the directors made some meaningful purchases at this level it would help!
Tibbs
Paul It is way too early for forecasts from anyone outside of the Centamin teams given the new mine plan is only just known to us but given that the open pit now has the flexibility of mining ore from several faces, actually processing more of the low grade ores by placing on heap leach pads, lower strip ratios over the next 15 months, reductions of operational costs, upgrading of underground equipment, waste contract ending during this period, additional trucks in the open pit.
I have confidence that the mine is now moving in the right direction but the initial proof will be that the flexibility enables the mine to make up the 3rd quarter shortfall and that efficiencies reduce costs.
All this said the sales values of gold (OK some protection), is all important.
THE Mill or one of them may have been down for a while, would slow down processing, but not stop it completely, with all respect to you Dasut.
Everything else I totally agree with
Thank you for that. I know a lot of mining is guess work and a bit of luck so it's difficult to predict. I noticed that about the extra trucks (5 I think?) as well -----so hoping they will be moving a fair bit of gold in them! A couple of monster nuggets would be nice.
Obviously we only have an idea of what we are being told, but as you have pointed out, several of those things should make things easier and lower costs.
Surely it is a positive that these steps are being taken-----along with extending the solar and connecting to the grid. Lowering costs should increase profit margins.
I also have it in my head that they were working on a POG of $1850 this year, and I think we have been above that for a lot of the time.
I suppose we just wait for some good news and that the Q4 figures are good.
I'd like golden toe caps for my boots, not golden coffin nails!
Mr Bond tend to agree that is why I am asking where we are hearing that the plant closed for 30 days. As Cowichan rightly says 130,000 ounces is a big ask so they need a kick start of a considerable number of ounces.
Can the plant produce 130,000 ounces at the current low grades I don't know so worthy of a question for the retail presentation.
From my experience I have never ever seen a mine working at 100% of the optimum feed. By this I mean a truck feeding the mill, with the next truck backing up just as the truck feeding is moving away. This allows a percentage of time to feed with loaders from the ROM.
Guess it depends on the overall efficiency of the plant as to whether there is capacity to achieve the necessary ounces.
Paul right now I would settle for silver toe caps which is far better than the tin that we can maybe afford at the current SP. Will be a while before we get near the gold flip flops.
A question was also asked about when Doropo will influence the SP which again is a difficult prediction.
Initial impact will be when the green light is given to go mining. Then another impact will be when they ship the first ounces. My belief is that both of these will happen but when I have no idea.
Hi Dasut,
A mining annalist acquaintance of mine from what information has thus far been released described the Doropo projects as "Hardley a dripping roast!"
I realise since then gold prices have risen, but that said they cant be guaranteed and of course there is always the African risk factor of corrupt government, military cue or insurrection by jihadist and other rebel groups.
But those factors aside what should concern any shareholder or potential investor is that Centamin thus far has hardly a good track record regarding the creation of commercially viable mines outside of its Egyptian comfort zone, that said even then the management through a mindset of short term high profits at minimal cost achieved by deliberate bad mining practice and glossing over the true facts has created an appalling mess at Sukari for which shareholders are paying a heavy price!
I remain unconvinced about the Doropo prospects and cant help but wonder if it is being used as a diversionary tactic from the ongoing Eygptian problems at Sukari which has yet to deliver and will Doropo end up as being yet another money pit which will end up being handed over to someone else or just abandoned?
Hi Dasut, if Doropo gets the green light there will be a period when tens of milions of dollars are going out the door and into the ground in West Africa every quarter for no return. So the build phase will be a tricky period I guess...
Mr T --check the RNS from the other day.
It said "· Doropo Gold Project definitive feasibility study (mid-2024)"
Is that when the deciion will be made one way or another?
Hi Paul,
I suspect they know more than they are letting on now!
How many time have we heard this in the past, how do we know its not more kicking the can down the road or stringing us along again?
Tibbs why don't you think Doropo is a goer?
To me it looks a straight forward 150/200,000 ounce per annum ore body, OK nothing fantastic but a healthy addition.
Horgan has a pretty good record operating in West Africa which suggests he and his team are well connected.
Coup's occur in Africa it is all part of "development" as is corruption all taught and gleaned from outside influences, certainly not invented in Africa.
Yes agreed it don't come cheap but if investors don't understand that mining is capital intensive and risky then why invest in such ventures?
3bear of course the build stage will be difficult because outgoings will be obvious but what is the alternative (look forward to hearing from our members)?
Centamin is a mining company and there is no cheap way of being successful in extracting minerals but we need to be thankful that the end product is gold. The risks are far greater when mining the likes of nickel, copper, manganese, rutile, bauxite,coal etc.
Paul, Definitive study (mid2024) is this when decision will be made?? Who knows the way forward like any business plan that any company puts together is gaining the confidence of the backers, be they the board using internal funds or outside finance organisations.
My view for what it is worth is that Centamin are being over conservative and plans should already be in place to go mining at Doropo in some form. From what I have read about the metallurgy is that they could open up the mine and at the same time start laying down leach pads to accrue revenue, whilst plant is being built.
There again I am an old f..rt who is looking in from the outside.