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Hi Cowichan
Firstly please ignore the trolls on here who are not on the same game plan as the serious investors on this board . Your professional insights as to the mining industry I for one take very seriously albeit lacking the in-depth knowledge you have.
I do however have a good memory and the diesel subsidy was an integral part of the Centamin start up. As this was a contractual obligation (now subject to litigation I believe) I am at a loss as to why the IMF has not raised this in respect of its ongoing funding of the Egyptian industrial future.
Regrds
Bob
Touch screen problems
disparaging view of the Aus voting population . Am I correct that it is a legal obligation for all registered voters in Aus have to cast a vote in an Election.?
You have very correct views of the standard of those elected but do you really believe the younger would be politicians will be better. No real world experience experience and straight from UNI with degree in political science .
However as this is a Centamin board am I correct that :
They have an education facility for dependants of workers, a fair wage policy well above the Egyptian norm, a medical programme, that they have a programme to educate and bring through talented Egyptian management , a safety record to be admired throughout the mining industry. Perhaps Siko (much missed from this board ) has a better insight into Centamin policy on these matters.
Lastly as you have little faith in the present system of National Governance what do you propose to put in its place?
Such a pity you are in Aus as sharing a beer with you would be a delight.
Kindest regrds
Bob
Hi Gnome,
As in Aus the people have the vote to kick out whichever Gov't is in power for the prosctribed period or before if sufficiently alienated. Try that in Russia , North Korea , Iran Venezuela and your dead or worse as is your family. With all its failings the present system (warts and all) suits me and the majority of the democratic world just fine. Happy to here and consider your defense and views on those Governments listed above
Regards Bob
.
Hi Cowichan
Your posts are and have been of interest as to their veracity and technical exactitude and an incite into the Gold mining industry of which I have little or no knowledge,
i have held Centamin since it was a map on the wall and held when it went below 30p . Sadly did not cash in at £2.20+ but eye off the ball at that time due to shorting Banks on the other side of the Book . However the question is what I have posed here before . Why would Horgan wish to court any subservice acquisition by Barrick or other Tier one . He is not driven by financial gain (wealthy in his own right and rejected pressure to take his Aussie venture public believing less than its value) Pardey et al ( non execs hang your head in shame) Centamin is a minor part of my portfolio but I am becoming increasingly interested in acquiring at the dips (refer3ence recent divi reinvestment).
Please continue to advise this board , I for one take your posts very seriously .
Kindest regards Bob
Hi Cowichan
Your posts are and have been of interest as to their veracity and technical exactitude and an incite into the Gold mining industry of which I have little or no knowledge,
All bubbles burst. South Sea, Tulip, Market Crash of the 20's and 30's Euro Snake. Sub Prime, Crypto. Not even Central Banks can hold the tide of mass market flow. If you don't study history you are destined to repeat it, and the digital age will accelerate that by some order. Hold gold
Bob
Hi Tibbs
As usual very succinct and well informed information on CEY.
My personal view is that Horgan is playing a blinder. As I have said here before he has accumulated more than sufficient personal wealth as not to be motivated by monetary gain. His previous resistance to severe pressure to float his start up company was both courageous and insightful. I (as I said personal view only) is that status in the business and more especially the mining industry is his prime motivation. As such keeping your powder dry , share price on the floor and then at the right time release the brakes in an ascendant and acclaimed way is where I see the present situation.
More power to the day traders assisting the long term plan but those who post on here are spread betters or trading the wrong side of the book and will join the 60+% who have no concept of the mantra CAPITAL PROTECTION AT ALL TIMES and eventually succumb to the professionals picking their pockets.
Good wishes to all here
Bob
HI Rebess
Although Tibbs and I did not always see eye to eye he was always the conscience of this board and a very major contributor to both technical and financial matters concerning CEY.
I do wish him well if in some difficulty and look forward to when he can come back to full participation amongst us.
Bob
Interesting comments and thoughts Steve and Sotolo
I only have questions and not answers
1) With Central Banks having to decrease and or stop Q.E and the consequent drag on the market
2) Increasing inflation
3)Geo-political extremes (Ukraine, fuel prices, exclusion of Russia from the world banking swift system etc and the subsequent hit on the P&L and balance sheet of global Corporates. Plus the reduction of world wide disposable income
What premium will a stung balance sheet. robust dividend policy and a supposedly safe haven investment have when general market value drops like a stone.
Interesting times we now live in.
Bob
Hi Steve,
In that the Endeavour take over bid rejected by Centamin and voided by Endeavour on the 27-29 January 2020 at 127p per share, and that gold in January of that year was 1550 - 1580 dollars per ounce what do you feel would the Institutions holding Centamin feel an equitable and acceptable bid price would be now. I ask the question on this basis as although private investors will have possibly strong views the decision would be in the hands of the Major Institutional share holders. The views of others with considerable expertise on this would be most welcome .
Bob
Watching gold over many years (sadly almost a hobby) there are 2 or possibly 3 trigger investors in the mix. The first are the short termers possibly milliseconds on a repetitive basis scalping a fraction percentage , you need the algorithm and technology to compete at this level. secondly the very wise traders operating on head levels and taking both short and long levels on an averaging basis hoping for a 51+ plus position, and the long term trader operating on geopolitical and general market information. On that basis sectors 1 and 2 will cause wild fluctuations whilst sector 3 will underline the base commodity price. This is what we are seeing now. The underlying sector will average out and an average will arise whereby the merry go round will occur again from that base. Neck on the block gold at about 1928 -35 tomorrow.
However dont bet the house on it as just my amateur view and a bit of light thought in these dire times.
Bob
Hi Tibbs,
Always succinct and understanding and acceptance of those on this board with specialist knowledge. I would however remind you that Centamin IR are the recipient of COMPANY DOLLAR
Both my IR Companies and PR Companies followed my Company line without fail as their income was dependant on my Corporate line and failure was not part of their contractual obligation. Believe me the Regulatory authorities are staffed by zealous individuals who delight in fragging into the light of day failings of Companies in their Company strictures. Many who perhaps hold similar views perhaps to yourself on big Corporate business and Institutions.
With Regulatory authorities behind you Corporate fortresses can be demolished. except of course Comex but look up who is the Regulator of that organisation.
Kindest regards and the balance you so ably bring to the conscience of this board.
Bob
Hi Cowichan,
With your permission I would like to send your post to all Board members including the Non Execs and the Regulatory Body controlling the FTSE the FCA This will be by Recorded hard post .
In addition the Jersey regulatory body is extremely keen to maintain credibility (where Centamin is registered) My previous involvement with these organisation would indicate they have an almost zealous intent for transparency in Company communication where affecting the market of which they are involved.
A flag at this stage might influence future thought processes of those wishing a depression of CEY value
Lastly I am most impressed by your in depth knowledge of the Gold mining scenario. I can only offer a knowledge of the markets , regulators and how it works
(or should)
Bob
Hi Tibbs
What a succinct evaluation . In my experience (albeit in a different industry) sub contract exposure was limited to short term contracts whereas long term such as Sukari would undoubtedly benefit from "in house " exploitation. I take much confidence in Hogans management so far and his now more public and Investor oriented visibility. Softly softly catchee monkey.
Regards
Bob
Hi Dasut,
Binned my post after reading your far more capable assessment. Yes Barrick is global leader but do others not far off in stature wish to secede a Tier 1 asset like Centamin in a possible and indeed probable major world mining location to Barrick. What would the reaction of their shareholders (institutional) to handing Barrick this on a plate!!!! without at least resistance to make Barrick pay at least fair price if not as most aggressive take overs work out above reasonable market value. Going to be a very intersting time going forward and whatever the final oncome in my opinion CEY current SP will be some way forward of where it is at present.
With acknowledgements to Cowichan and have done as he asked.
Bob
Hi Tibbs
As always a concise and cohesive post covering issue and views posted here. It would appear that my Rose tinted specs are somewhat supported by Peel Hunt and Berenburg on their broker ratings this morning. Berenburg uplift especially after their earlier lesser rating in December.
Bob
Thankyou Dasut, your concise thoughts are of immense help to us more mining naïve investors.
Am I wrongly assessing that given a base fixed costs for the gold mining industry Centamin has more positive than negative position going forward. I do have a habit of wearing rose tinted specs but
1) Rising wage inflation benefitted by Centamin home bred mining education programme.
2) Exponentially rising energy costs offset by solar and battery storage . Crude Jan 2021 53 dollars a barrel ,as of this morning WTI crude 88 dollars a barrel. Futures off the scale.
3)Benefits as you say from plant freed for production from the waste stripping exercise in 2022.
Happy to be shot down by others expertise.
Bob