Charles Jillings, CEO of Utilico, energized by strong economic momentum across Latin America. Watch the video here.
Apologies for my errant typing. Obviously "management could afford to" should follow " No "
Lack of alcohol as in "dry January " mode to blame for both prevarication and rubbish typing ability.
Miss both alcohol and my P.A.in a former life.
Roll on Friday , Sauvignon Blanc , a good Medoc claret and a few Courvoisier. Sadly spouse has banned Havanas from my life.
Bob
Bob
Hi El Prof
Currently at 11.20 up 2.88%. The general market is up but it would appear those with privileged access to the impending forecast have stolen a march on us small fry again. Why do I always get the timing wrong as I had liquidised funds to top up my ISA with max CEY shares and in prevarication missed out again. doh!!!!
Still added but 3-4p down on what I could have got in at. Never mind still confident for next year as I believe CEY current management will be cautious but confident and production quarterly statements throughout year above forecast. No
FTSE 250 can compound the errors of the past under P .Non Execs whose future earning capacity relies solely on their professional standing will be all over the figures like a rash prompted by the big players like Blackrock et al.
Ploughed through Endeavour Report and still mighty relieved we didn't end up in their clutches. Ponsi comes to mind.
Bob
management could afford to
Hi Tibbs
As usual you have hit the nail fairly and squarely on the head. It would appear from the 4.3%rise so far today that the market is now getting up to speed re Centamin in anticipation of month end report. Even if the report is very positive do not be surprised at a fall back after announcement . Just normal market noise and profit taking. Will recover within a few days .
Buy on the rumour, sell on the reality will ensue.
Bob
Quite interesting to dig down into Companies linked to Centamin.
From Capital Drilling website :-
Capital Drilling Ltd (LON:CAPD) told investors it has landed an important new contract extension, keeping its rigs active at Centamin’s Sukari gold mine, in Egypt, until at least 2023.
It presently has a fleet of 14 rigs at Sukari where it provides blast hole and grade control drilling services for Centamin’s open pit operation. Capital drilling has been active at the mine since 2005.
The main shareholder in Capital Drilling is Awale Resources Ltd at 13.5%
Guess who is the major shareholder in Awale Resources. None other than END Royalty holder Sandstorm Gold at 17.7%
Seems the Gold mining industry is a very incestuous business.
Bob
Hi Cowichan
I equally added my voice to yours and others to Buchanan and got the standard reply as yours.
In your experienced opinion to what end was this obfuscation promoted and at whose instigation. Buchanan are surely just the mouth piece of the Board and are therefore informing share holders on the party line to put forward. Was Pardey the prime originator of the silence policy do you feel . Is it perhaps the intention of Joseph to form a wholly owned African subsidiary to clean break the involvement of the Egyptian Government whatever that might be on the African assets.
I am really all at sea on this one. Do you feel and hope as I do that the January statement might result in a full disclosure .
Has Endeavour any connection with the drilling exploration company.
Apologies for all this but the only wrong question is the one not asked.
Regards Bob
AIM is in the hands of the nominated company brokers who set bid ask levels and who maintain sufficient liquidity for the market to operate. Most funds wont touch it unless aimed at New market entries. Casino Royale territory.
Sorry to hear of your bad experience. Look on it as payment for education which might help.
Bob
Hi Tibbs, Mikefreedom
A very good confirmation of "DONT DO IT" and similar life experience as mine.
However long term investment has paid off for me as in CEY at start 33p (and do I remember the drop to 22p --oh yes!!!)and Johnson Mathey at about 900 (currently 2920) and who paid 86p per share divi in 2019
Bob
Hi Repression
Re reading my post I didn't adequately explain the finish .
Assume your short has gone well and the share price has declined from 100p to say 95p then judiciously you take the profit which you exit by closing your open short by putting into the sell side an offer to buy at 95p. When taken up then if you had 200000 shares profit less costs would be 10000 pounds for your original deposit of 20,000. However alternatively if it goes against you by 5p then you have lost 10,000 from your deposit.
Market manipulation can occur if using CFD successive lower entries to buy are entered into the sell side. eg you are asking the market to sell to you at successive lower price.
Not a very adequate explanation but hope shines a little light on the market options. As said previously glad to hear you will keep clear unless you enjoy hanging one handed on a cliff face whilst throwing large denomination notes into the void.
I always make the right decisions in hindsight. Example No brainer for a CEY rise this am. Hope now for a steady rise into the end Jan statement and as Rebess wishes.
Bob
Hi Repression
Ok will try to explain re Leveraged CFD shorts and Longs.
Unless you are a financially secure Institutional investor with a guaranteed credit line with a Broker you would need to lodge as an individual a sum of money
(GNI touch used to bottom limit this to circa 20000 + and may have changed probably upwards of this now) There are of course other Banks ,brokers who offer similar access directly into the "BOOK" the BOOK is the trading platform provided by the London Stock Exchange . All shares are categorised as to Market value. FTSE 100 comprises are the top 100, FTSE 250 is the next and then the remainder listed on AIM the Alternative Investment Market. The FTSE 100 and 250 are open shout markets where shares owned or wishing to be bought are registered. The AIM market is supported by a broker or brokers who will set bid and offer to enable liquidity in a small share.
The book has 2 columns a buy side and a sell side. This is where having opened a trading account directly into the book it gets complicated. The buy side (sell) and ask(buy) is the price you will get as a private investor if you buy or sell a share. For example currently CEY you buy at 1.22 and if you sell 1.20. This is called the spread. With direct acess if you wish to buy CEY you would put the number required into the sell side . eg you are offering to the market to sell to you at 1.20. You effectively have the advantage of buying at the lower end of the spread. The opposite if you wish to sell, Difficult to get the head round I know.
Now if you wish to go short you do not need to own the shares . Your broker will either from their own or arranged sources lend you the shares to sell. This is called an open short. If you have a CFD account (Contract for Difference) then you have a leveraged opportunity . This can be as high as 20 times for a FTSE100 company or 10 times for a FTSE 250 company (set by your broker) Therefore if you wish to utilise your 20000 pounds to the full you have buying or selling ability of 200000 to 400000. If you go short then the value of the sale will or used to accrue interest in your account. Similarly if long then you will be charged interest on the purchase amount.
Assuming the trade goes against you and the price rises against your short or drops against your long this will be measured against the funds in your account until the loss cannot be covered , At that time the broker will make what is called a margin call on you to put up mote funds or close out the trade without further reference to you. Leaving you wit the loss.
I am sure there are others on this very well informed board who will correct or add to my explanatrion but hope it helps somewhat. All education in the market is of value. I stopped CFD trading after taking a big hit with Abbey National and to preserve my sanity. I fully endorse Tibbs caution in this respect.
Bob
My rough and ready reckoning is that at current exchange rate return on Centamin share at 1.20 pounds would be 6.5 to 7%.
Although capital appreciation on share value is nice as a long term holder the divi is much the currently attractive end of the CEY story. The fall in price is the noise that always follows a M&A of those in for a quick buck and fully expect price after a decent report on or about the 31st Jan to rise (steady hopefully not in a sharp increase)
6 TO 7% return on any investment is remarkable and even more so when there are now noises of Central Banks cutting interest rates once again as inflation figures are not hitting any where near their target range. Very happy and will sleep well tonight.
Bob
Hi Tibbs
You are absolutely correct and leveraged CFD trading comes with a very very strong health warning and like you I made monopoly money on the demo account but the whole scenario changes when you have skin in the game. My offer was under no way to encourage retail investors to take it on but explain how the larger Institutional Investors can manipulate a situation to an advantage either way. Add in automated algorithmic trading and you are usually on a hiding to nothing.
Still basking in the good news
When golden flip flop day arrives must have a party somewhere decent in the City to celebrate. Roll on.
I think obviously the big Institutional players signalled not happy with END offer hence END face saving announcement.
Sad to say on the wagon in January so cannot properly celebrate until the 31st (I know not the end of Jan but it will be a Friday and happily digesting CEY strong announcement) Tattinger on ice in prep.
Bob
Endeavour got in first on announcement and cited insufficient time to conclude due diligence. What a load of rubbish. Centamin accounts are regulated by the rules governing a Company listed on the FTSE 250 and Registered in Jersey which whilst not Draconian has a srtrict code of compliance. Additionally CEY has only 1 mine at Sukari and would have had a far more difficult job in deciphering the accounts and statements and site visits of END.
Great news but still vulnerable to a.n.other approaching them.
I hope and look forward to a statement by the CEY Board if any.
Bob