It's a steady ship. Confirmation that the dividend will return this year is a remarkable achievement. I would expect a significant re-rating by the brokers in the near term, buoyed on not least, by shops re-opening on April 12th. Well done GOG.
One thing that has confounded the gold price models is the amount of money that has gone into crypto currencies. I may be wrong but it seems that a lot of people rushed into bitcoin etc who would traditionally have gone into gold during such bleak times. All the arguments for a much stronger gold price are there from an economic point (unprecedented global debt etc) and yet, it is crypto that has soared rather that gold. If this becomes the norm and risk appetite returns as the world comes out of lockdown, we could see gold over-react to the downside. I hope I'm wrong!
Take heart hedgehogg. Every LTH of CEY has been through the mill at some point. I remember buying in round the £1.66 point in 2010 or 2011. It fell and fell all the way to 30p. I never sold that holding till it went into profit again YEARS later. I have traded it since and touch wood, CEY has been very good to me. That said....I bought in at £1.13 recently (only a few mind) and it has gone south since. :)
RE: Slowly lowering my cost basis28 Sep 2020 12:11
Lock down won't matter much to this company. And they are sorting the German contract now. Hopefully they will have learnt some very valuable lessons to take into the new German contacts which come on line in 2021 and 2022. I'm very happy holding these.
When you look at the 5 year chart, this price does look like an invitation to buy. Like you, I hold a few here and I may be holding a few more if they keep dangling the carrot! Very lively share lately.
You are probably right to buy at this price. Exactly a year ago these shares would cost you £20.50p per share. Lots of upside especially when the government put some meat on the bones of the management contracts.
I think the markets are rightfully nervous about the rise in covid cases. Also the emergency assistance from the government isn't as generous as the agreement that expired on Sunday (1.5% as opposed to 2% before). This is still a hold I think. No need to panic over day to day price swings as it's way too cheap under £10 according to these guys:
Centamin, operator of the Sukari Gold Mine, announces today that it has committed 10 million Egyptian pounds ("LE"), equivalent to circa US$635,000, to support Egypt's response efforts to combat the coronavirus ("COVID-19") pandemic.
As the country's largest mining company, and significant local employer, early action was taken to protect the on-site workforce and secure operations. We continue to closely monitor the situation, adapting our processes and procedures accordingly. We are actively working with the Egyptian Government to address the threat of COVID-19, providing logistical and financial support within our local community. We thank the Egyptian government for their support and working collaboratively in sustaining operations at Sukari.
As of 5 April 2020, Centamin has no recorded cases of COVID-19 on site and has experienced no material disruption to operations, supply chain or gold shipments.
Josef El-Raghy, Chairman, commented: "During this time of global crisis, we are committed to extending support to our host countries. In addition to being actively involved in our local communities, Centamin is donating LE10 million to financially help towards immediate critical needs. We will continue to provide our wholehearted support to the government in facing this crisis."
I shared your epiphany Tiger except I sold everything! I didn't believe China on their virus details and I thought the markets had gone too high to quickly in the face of obvious headwinds. I intend to keep the powder dry till the correction is overdone as it always is. I will be back in CEY for sure however, other shares that I expect to bounce are:- 888, CNE, PTEC, GFS and BARC. These have all been clobbered for a variety of reasons lately and may be worth a punt in the near future. I know this may seem a bit off topic but as a CEY shareholder from the beginning, I feel a bond with the members of this board and anything I can throw in to help anyone is my pleasure. Good luck and best wishes to all of you.
I was very surprised to see that CEY asked for the extension. And then I wasn't. We are always the last to know anything. We were not told last year when Endeavour made the same approach and we only knew this time because Endeavour blew the whistle. The only reason for an extension is that something has changed in the minds of CEY maybe? The deal on the table stinks to high heaven. Is there another deal underneath the table that sweetens the deal for the board? An extension for due diligence looks mad. What more do the y need to know that isn't in the public domain? Crippling debt? Tick. Diligence check over. Goodbye. Why does CEY keep putting us through the wringer? Our trust in the early days has made them wealthy beyond belief. In return we get no share price advancement, the same old slide-show presentation over and over again, riddles, smoke & mirrors and a dividend that is scattered across too many shares. Great if you have a truck load. Crap if you're the other 99%. The share price was higher a decade ago for heaven's sake! When will the board actually recognise our loyalty?
It has been said before but the depth of knowledge on this board is fantastic. Once we get SIKO back as a regular we will have all bases covered. The only reason I don't post is because I rarely have anything useful to contribute! Good luck to you all and thank you to those with the talent for sharing it.