Member Info for 3bear

Tibbs! At last we agree - FCF is king, well said. With gold at 2400+ and the AISC supposedly being reined in we had better see a dramatic improvement in FCF. To be fair there was an improvement in Q2 but not to the sort of levels that are going to light a rocket under the SP, which is what we have all been patiently waiting for, some longer than others.

Shares in Centamin dropped nearly 10% in early trading Thursday after the London-listed gold miner booked results below what analysts had expected for the first half of the year.

At 0812 GMT, shares were down 7.8% at 119.30 pence.

The London-listed miner operating in Egypt and Ivory Coast reported a pretax profit of $117.15 million for the period, while analysts at RBC Capital Markets and Berenberg had seen $140 million and $151 million, respectively.

Think this may have spooked the markets. When central banks cut rates it's usually bearish for stocks because it means they realised at last that we're really up the creek.

(Reuters) - China surprised financial markets with an off-cycle cut to bank funding costs on Thursday. Stocks fell and bonds rallied after the announcement of a 20 basis point reduction in the one-year medium-term lending facility (MLF).

Best results we've had in years, unprecedented record revenues, SP in freefall.

It's the Cey we know alright.

Denfos and others please can we keep the personal abuse down. It's fine to disagree with Tibbs, most of us on here do to be honest (sorry Tibbs) but piling on the hate is not ok.

Well said goldgnome

GP currently 2469. End of argument.

It will certainly please me Tibbs. I know Cey does not have a great track record in West Africa so far but Horgan is in a different class to Pardey. Having only one asset at Sukari makes Centamin a riskier bet than other miners, making it too vulnerable to any unforeseen hitches at the site as we all know too well. Having a second centre of production in a different country should boost the SP by more than the addition to the bottom line as it de-risks the investment case.

He's a serious industry professional who knows what he's talking about. A refreshing change to be frank.

Hi Tibbs - he has a website Rule Investment Media and if you send him your resources portfolio he'll rate it for free.

Rick Rule, who has about 40 years' experience rating resource equities and is a former CEO of Sprott, thinks Centamin's quality as a company is on a par with Barrick, BHP and Rio Tinto. I'm encouraged by his assessment.

Yep I'm really hoping Q2 production will be north of 110,000oz but I'm trying to manage my expectations...

Hi Dasut yes I'm hoping for more production too, as I said it's a cautious number, but they have said production will be weighted towards H2 and if it's a 45:55 split then H1 would come in at 211,000oz to hit the lower end of guidance.

Well theGP at the time would have made it worth around $41million, I guess the cash just went into the mix like everything else?

I'm hoping production will be a bit higher than 107,000 so that's a cautious number - but Centamin hasn't often surprised to the upside in recent years...

Hi Paul here's mine for what it's worth -

Production 107000

Gold sales 104,000 + 19,241 on hand and sold at the start of Q2 = 123000 oz sold at 2280 = $280,000,000

Let's hope so Tony. Maybe news of the actual numbers is starting to trickle out to those in the know... whatever, I'm certainly looking forward to July 25.

Liberum upgraded Cey to a hold with a 117 target this morning, slightly positive but not exactly a rocket booster.

Maybe with the end of Q2 a few days away people are working out likely revenues on the back of their f*g packets and thinking "goodness me that's a buy".

Should have read:

Hi Tibbs,

The open pit produced 325,000oz last year. 15,000 of this (

Hi Tibbs,

The open pit produced 325,000oz last year. 15,000 of this (

So Tibbs I'm intrigued do you still want to close the pit?