Member Info for 3bear

Well said DASUT

Wow, you are really on a mission dude. Who is paying you? It's not Barrick cos the Nubian Shield has massive, massive, undeveloped potential...can't figure it out.

Exorbitant - or absolutely the international going rate?

Have they done this?

- pay several million yearly to the bank consortium to secure the $150 million line of credit

Cowicant - they haven't have they? They've just got a rolling credit facility that they will certainly need to develop Doropo. Not costing them millions at all until they draw it down. Excellent work by the management yet again. What a great company this is and what a fantastic world class ore body they have that is being efficiently assessed and efficiently mined for the first time in years. And what fantastic prospects in West Africa. Wow this company is so good.

Hi Steve, I don't see it like that. They presented it as we've got a lot of big bills coming up so we're taking the prudent step of guaranteeing some of our income to make sure we can pay them - whatever happens to the GP. If the gold price rockets to 2400 tomorrow there's no upside limit either. This was a good deal.

So hang on, at the time of the put centamin was bending to the bankers' will unnecessarily and wasting money it didn't need to. And now it turns out to be a very smart move it was all the bankers' judgement and nothing to do with good management at all?

I suppose there is a sort of consistency there... and it does maintain a record of unremitting negativity in all possible circumstances - impressive!

MoreCheese - they have an option to sell 20,000oz per month at $1900 until next July or thereabouts. This hedge cost them US6million and is to guarantee income levels at a time when they are looking at investing several hundred million bucks in solar expansion, grid connection, gravity circuit, waste stripping, eastern desert exploration and building a new goldmine from scratch close to a national park in Cote D'Ivoire.

Perhaps people can now see what an eminently sensible move this was. Even if they get back less than the 6million over the 12 month period the point is that income is guaranteed at a time when many expensive projects are either in hand, nearing completion or about to begin.

I am amazed - all the people on here who were grumbling about the $25 an ounce cost of hedging at $1900 are now on here praising the management for their foresight and prudent husbandry now the GP is 1826. Er hang on...where are those posts?

What a well-run company this is.

The point about grid connection is that whatever energy is available it will be much cheaper and much greener than trucking diesel to sukari and running piston-engined generators off it in 45C.

Yes Tibbs, they will have been getting around $1920+ for most of the quarter. Horgan likes a strong Q3 to give them an easy run to delivery of guidance in Q4. So I'm hoping for some big numbers and an SP booster.

Q3 results presentation is October 19

Q3 production to exceed 130,000oz for first time since July 2020.

Q3 revenue to exceed USD240,000,000

You heard it here first.

This looks good to me, they've identified inefficiencies in their operation and are looking to streamline and improve. Excellent to know they are right on top of the operational detail, spotting these problems and dealing with them. Think I'll buy some more shares as soon as the market opens on Monday.

The Q3 results in October will be the good news that sends us north again.

Yep expect this will turn out to be a regurgitation of 2020 pit wall instability news

Cowichan glad to know you're not one to shoot the jester...just dunno why you never have anything even mildly positive to say about this company - your analysis is unremittingly catastrophically negative, why are you doing this?

In all seriousness, and for what it is worth, I think Martin Horgan is a superb CEO, he has the bit between his teeth. the work he is doing at sukari, or rather the work his mine manager is doing under his direction has given me massive confidence in the management of the open pit in that we will not see any sudden drops from here. The focus on safety, that a safe mine is a well-run mine by definition (DASUT any views on this?) rings true to a non-mining investor like me. The ounces growth will not be as fast as some would like but his emphasis is on sustainable growth. Isn't sustainable growth the holy grail of good investment? This stock is not without risk - every possible, fabulous and imaginable wibble wobble wahoo WTF I have issues type risk is put on here by cowichan. But the bottom line is this is a well run business in a slightly risky set of jurisdictions. If you are happy with the latter, then invest as much as you feel comfortable with and I think things will go well. I'm all in at this point at an average 95.8. Doesn't mean I don't regret doing a steve and offloading at 99 to pick up at 93 the other day hey ho - but on balance this is a good long term bet. Good luck everyone.

What a superb and world class business Centamin is becoming?

The efficiencies achieved at Sukari are fantastic. Putting things right from the ground level up. Matching excavator bucket sizes to the truck load capacity properly has resulted in significant increase in Mt shifted just down to good practice, a tyre workshop to extend life of tyres at 12000US per truck x48 trucks, recycling grinding media, reviewing explosives and leech consumables to increase effectiveness, the coming gravity circuit to extract gold before it even hits the cyanide. grid connection - even if there are power cuts during the day sukari can load up the batteries overnight from the grid and then whack in the solar from dawn to dusk. It's not just the diesel saved it's the trucking out to the mine site - an artic-tanker truck delivers around 30,000L per truck, so at the minute that's three tankers of diesel not going to sukari every day due to solar this is fantastic. This company is rare in that it is doing everything from greenfield exploration/prospecting to site development to crunching out ore in massive volumes. It is the most exciting stock in my portfolio and I urge you to BUY. (Er Alex BC what is my fake name on here is it 4bar or something, best Martin xxx)

Hi all, very pleased with these results and the market reaction to them. The hedging seems very sensible - guarantee a certain level of revenue with open upside during a period of heavy investment - Doropo in particular but also more solar, grid power etc. Just want to say to Steve, you have done us a service, because as any fule kno... Option2.

Cowichan - enrich his ESG buddies (solar project) ???

This project is displacing 20million litres of diesel a year at 80-90c the litre. it will pay for itself in two years. It was executed flawlessly on time to budget and is delivering nameplate capacity. Diesel has to trucked out to sukari 30,000 litres at a time in tanker trucks. This is a win win win and is rightly being expanded. Surely you can't moan about that?