Member Info for bobliz35

Rebess
I am always reluctant to post on this board due to the excellence of the regular contributors However I find much merit in what you have said and which mirrors somewhat my rare previous posts as to the Institutional Investor mind set.There is much merit in what you say and is close to my opinion posted earlier on this plus excellent forum.
Institutional investors I believe would rather have a 5% gain in the current quarter than a POSSIBLE 10-15% in the succeeding quarters. Possibly to mitigate a negative current quarter. However there is an element of amusement in considering the various scenarios on offer and in this respect I have had a close look at Endeavour Financials, several times in fact and find some questions with answers not obvious to my feeble mind.

Obvious disclaimer re non GAAP with no standing under IFRS regulations. I am sure others here will also have studied these public domain documents and as little comment here not seen anything at variance with standard practice.
However the points which I struggle to quantify and which others here with hands on mining experience could no doubt advise is that they maintained AISC at $803 and production ounces in a RAINY SEASON WITH 4 times the usual annual . rainfall. They maintained ounces by " Weather mitigated by mine scheduling and utilization of stockpiles" Peter to pay Paul????
Secondly in the footnotes to Page 5 " Operating data from continuing operations" there is an item which states" 1
Includes 8,784 ounces of pre-production gold at the Ity CIL operation in Q1 2019. " What is Pre production gold and such a large amount in the o/all 180,769
2 " Revenue is net of gold stream sales to Franco-Nevada and Sandstorm. Franco-Nevada are Gold Royalty Company publicly listed and market valuation of 13 billion dollars . Sandstorm are similar but I believe sligtly smaller. At what value the gold stream agreement. Not inconsequential players in this fiasco perhaps.
Good luck all and a happy, healthy and PROSPEROUS New Year to you all.
Bob

Interested to hear views of this board on the Statutory RNS re the above dealings .

Bob

Hi Tibbs

An NED reputation is all as to their future reputation and subsequent remuneration ( lucrative as we know) To be involved in a Company and endorsing dealings with a Company where the CEO is under judicial review by a major European State and whose Registered Office is situated in the Cayman Islands would see me heading for the hills pronto.

More to play out here.

Bob

I declined going on the list of Non Execs on the basis that any listed company would not wish to here my views on their Corporate Governance as a matter of Truth.
Following is a list of Non Execs on the Centamin Board . I leave to others to judge whether their presence has been of benefit or otherwise to Centamin. I have my own private views.

GORDON EDWARD HASLAM
Senior Independent Non-Executive Director
DIRECTOR SINCE 23 MARCH 2011

In addition to his role as...


JAMES (JIM) RUTHERFORD
Deputy Non-Executive Chairman
EFFECTIVE FROM 1 JANUARY 2020

Mr Rutherford joins Centamin as independent...


PROFESSOR IBRAHIM FAWZY
Independent Non-Executive Director
14 AUGUST 2018

Dr Fawzy has over 50 years...


DR. SALLY EYRE
Independent Non-Executive Director
10 APRIL 2019

Dr. Eyre is a mining finance...


MARK BANKES
Independent Non-Executive Director
DIRECTOR SINCE 24 FEBRUARY 2011

Mark Bankes is an international corporate...


MARK ARNESEN
Independent Non-Executive Director
DIRECTOR SINCE 24 FEBRUARY 2011

Mark Arnesen has extensive expertise in...


CATHARINE FARROW
Independent Non-Executive Director
EFFECTIVE 2 SEPTEMBER 2019

Dr. Farrow joins Centamin with more...


MARNA CLOETE
Independent Non-Executive Director
EFFECTIVE 2 SEPTEMBER 2019

Ms Cloete has greater than 15...

Centamin
Further information as to the above is publicly available on the Centamin web site.

As this has not been highlighted on this excellent board previously I also append a guide to the role of a Non Exec Board member which may be of interest to members of lesser background than I .

Obviously their tenure in this and other Non Exec Roles continuing (generally with between 3 to 5 other Companies at circa £30000+ per annum)is depends on the successful discharge of professional diligence. Study the Non Exec resignations as a good guide as to how things are expected to progress.. They are of course open to civil action of non compliance and especially with a LSE listed Company!!!!!!

You may wish to contact them direct . I may or may not as things progress.

This is my personal and private views and in no way must be construed as financial or other advice to any others on this board .

https://www.iod.com/services/information-and-advice/resources-and-factsheets/details/What-is-the-role-of-the-NonExecutive-Director

Bob

Cowichan,

In response to your request I append below my email to the Takeover and Mergers Panel.

Endeavour Mining

Registered Office

27 Hospital Road
George Town, Grand Cayman
Cayman Islands KY1-9008
+345 943 3100
+345 945 4757
Following extract from The Times of the 9th December 2019

The Frenchman behind Endeavour Mining’s audacious £1.5 billion takeover bid for Centamin is under investigation for bribery.

Sébastien de Montessus, president and chief executive of Endeavour, is being investigated over a corruption scandal at Areva, a state-owned French nuclear energy manufacturer.

Endeavour, which is listed in Toronto, is pushing for an all-share merger with Centamin, its smaller goldmining rival, which has rebuffed its approach.

French investigators are scrutinising whether Mr de Montessus, 44, bribed a public official during his time at Areva, now known as Orano, The Mail on Sunday reported. He denies the allegations.

Is it permissible that Endeavour Mining can pursue a merger with UK listed Centamin Plc while its own CEO Mr. Sébastien Montessus is undergoing a judicial investigation for bribery & fraud in France?

Surely there are rules against mergers while a key director is the subject of an international criminal probe involving bribery and fraud.

I have utmost confidence that you will exercise due professional diligence in this matter.

Tibbs,
A salutary lesson that all would be advised to consider carefully.
I can share equal experiences . Many initially try a demo trading account and that can be fun without the financial obligations. However when ones skin is in the game the stakes and decision making processes alter.

NOTE

For some reason my posts have been under martyhopkirk tag . I am not he , and have no connection other than posting a reply to him where the cross over may have occurred. I always sign off as Bob.
Have now rectified and hopefully now posting under the correct name tag.

Bob

Phone Charles Stanley and ask them when they paid Centamin Divi into clients account . Don't believe me . Fees reasonable also and platform with real time streaming. You can also speak to someone by phone with no delay.

Charles Stanley paid Friday and have always done so . III (EX T.D.W) took 3 days to pay hence kicked into touch last year.

I equally have emailed the Company re Dividend date and will post any useful reply I receive.