Firering Strategic Minerals: From explorer to producer. Watch the video here.
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Shares on major European markets rose during premarket trading on Thursday as traders kept an eye on corporate earnings and awaited the European Central Bank's (ECB) latest monetary policy update along with President Christine Lagarde's press conference afterward.
Earlier this month, the ECB announced its revised inflation target, revealing it will now aim for a 2% inflation target over the medium term. Aside from the bank's new inflation target, Lagarde is expected to comment on rising inflation and the Delta variant's possible impact on economic recovery in the euro area.
The DAX gained 0.33% at 8:00 am CET, while the CAC 40 climbed 0.41%. Meanwhile, the FTSE 100 was up 0.24% in London.
Breaking the News / JC
Well at least we haven’t made a loss, gaining a miserly $7m cash in the quarter, but partly because some capex shifted to Q2 “ 2021 capex guidance maintained: US$225 million, with a 65% spend in H2 (previously 55%) due to timing adjustments to the payment schedule”. But at least performing slightly better our lousy targets for this year so hopefully market will cheer up and look forward to 2023. Looking forward to others’ views
Sotolo, you were interested in other people's view. I think the results are great. Everything as expected and good solid performance, and absolutely nothing to be concerned about. I think you have an agenda that is looking for negativity and you wish to promote that at every opportunity. Read the results again from an impartial view, you may feel a lot happier. Oh, and please do not respond with a negative rant: I wondered if you genuinely wanted to hear another person's view or were baiting someone to respond so you can spread more doom and gloom by elaborating an depressive narrative as to why my views of a good positive performance must be wrong.
Very exciting news bellow tucked away in the RNS:
Recently agreed exploration license terms for a total 3,164km2 land package in Egypt's Arabian Nubian Shield subject to final legal formalities expected to be completed in Q3
I don’t have any agenda other than wishing, as still a fairly large shareholder, that the 2023 better new begins to affect us positively, and reporting what the managements figures say.. So very pleased with your positive view, tho wish you would add your interpretation of the specific figures, my view was not negative, in fact hoping the shares would pick up as the bad news expected, but also the new concessions, and 2023 nearing, sadly however they all seem baked in the price so maybe not yet.
Sotolo, I owe you an apology then. my words were a bit harch, if I could edit it I would say your words echo your disappointment in the share price for such a great company that is cash-rich, debt-free, dividend-paying with a plan in place to get it back to 530,000 ozs of gold mined which used to command a share price of double today's price less than a year ago. And future mining costs are also reducing with better management, and solar plant coming online. . Then there are the exploration licenses and prospecting elsewhere that could and should add value, but that's speculation to me . I like the security of knowing that management is on point, the plant is churning out gold, at a price that makes a profit, and produces dividends.
Glyn you are a real gent like so many on this board, and I like you wouldn’t be here if I didn’t believe better times are coming, I think the good news is if our shares don’t take a tumble on these figures or more important the August interims, nor the second half which they say will be worse with deferred capex, but that the share price looks forward to 2023 as we do.. and of course gold moves out of these doldrums up not down.
Sotolo. around this time last year, when the share price was over £2 , you were prediciting £3 in the not too distant future. As we know, the STUFF hit the fan and the price took one hell of a kicking. Assuming a few things (dangerous , I know) (1) That the removal of waste goes to schedule or better (2) because of this, costs go down and production goes up (3) gold price remains around this level or maybe up to $1900 , what would you expect the the share price to be then? I take it you still hold over 600.000 shares as i couldnt see you selling them after halving?
Such great results and minus the SP ?
Kalimera,
Don't worry about that, it is Thursday and Centamin always goes down on days with a 'y' in them.
Gold has just fallen c $10 so suspect that is the cause of Centamin falling off after a positive start. Would have liked to believe the lack of anything negative in the latest update would have been enough for a slight move up today but to me the important thing is that the new management seem to be getting a real grip of the company and putting right past shortcomings. The market had lost confidence in Centamin's eternal 'jam tomorrow' and disappoint updates.
Sell on the news brigade
Paul you are absolutely right, but I didn’t foresee the wall collapse, and the very dramatic result with oz down nearly 25%, aisc up 30%, and cash flow falling nearly 90%! Also I said Cey £3 if gold goes above $2200 which I thought it might, given falling real interest rates and rising inflation. However this was tempered by my usual scepticism, if less, and a year ago this week I posted: “Prof Tiger etc, yes great times but amidst such wonder my thoughts are already turning to when do we take some money off the table, or not, as timing is so hard. I see a few hundred dollar correction in gold that has risen so massively, I always thought it would be around 1900, which we have amazingly reached. Now I think it is more likely around 2000, which may be a struggle to break, or most likely a little above 2100, by which time Cey should I reckon be around 300. So I think I am going to be brave, nay foolhardy and wait till Cey hits 295(if ever) when I will take 20% off. I am sure others will be trading much sooner, even now, what are your thoughts and please all do tell when you do, and reasons. Or is this a false dawn when we look forward to huge profits and unpredictable gold will hit us again”.
Incidentally I am down to 461k Cey shares, wonderful Tiger having recommended Tharisa I have dripped the remainder there (and to Hoc that has been nearly as bad as Cey with political surprise)
Thanks Sotolo. I think I put up last week that if the price remains around this level until after the next dividend, I wont be too bothered as it willl mean more shares for the reinvested dividend. After than I'll probably take the dividends in cash as I need to live! You would think that with all the money printing and the actual, rather than reported inflation figures that gold would be on the up. I'm crossing my fingers for a decent dividend this time and better news and higher gold prices along the way. There seems to be a bit more of the getting the basics right since Martin Horgan took over. Again, fingers crossed that the new areas work out and either the other assets come on line or get sold for a decent price/ AND/OR some sort of partnership with them.
Sotolo,
I find it hard to disagree with any of the numbers you predict there, all sounds very logical and reasonable view on things. I am still hoping for a sustained rally in Gold and Silver. The world is addicted to QE and low interest rates. The value of Classic cars, first edition books, whiskey, wine, art has rocketed. I was looking recently at the M3, M4 money supply increase and noticed how it matched house price increases rather well. Just need the PMs to follow.