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I think all who post on this forum agree with you regarding the atrocities in Israel & Palestine

Many factors will push the price of gold around, Ukraine has endured 600 days of Russia's onslaught with hundreds of thousands dead collectively and tens of millions forcibly displaced - one could argue that gold should have been affected more so by that much larger conflict

Some theorize that it's US longer term interest rates spiking that is currently spiking gold - counterintuitive as that may be considering gold has no yield (if held at home in a piggy bank)

I do hope Egypt's Sisi (and those demons Hamas )will allow the Palestinians to flee through the Rafah Egypt border - why Egypt a fellow Arab nation would prefer to see Palestinians whom they count as 'brothers' go hungry and possibly get bombed is beyond comprehension - if Israel really is an apartheid state then by the same token so must be Egypt

Hi Somnamna,

I just finished watching the presentation replay and a few things stuck out - regarding the waste stripping ratio, too little detail was given regarding how the Capital waste removal project dovetailed into what now remains a permanently elevated strip rate. Surely the assumption was getting a whack of let's call 'pre-stripping' done let's say 'more efficiently' by a dedicated contractor team was going to improve on the previous LOM rate - but nope - it went up and they pretend it went down. Fibbers.

Next, the decision has apparently been made to hook up to Egypt's power grid. The benefits are touted as reduced carbon emissions and cost improvements. Except it doesn't accomplish the first, as 90% of Egypt's electricity production comes from burning fossil fuels, mostly oil, some gas and 11% solar/wind. Out of sight out of mind doesn't help the environment - just optics on site. And second, the is no guarantee electricity rates won't rise - currently Egypt subsidizes the cost of producing electricity for consumers/industry but we know how subsidies were removed from diesel fuel in the past. Also, the danger of relying on the national power grid over self-generation isn't worth the risks - power outages are a real problem to avoid at the processing level

Next, AISC aren't budgeted to come down below $ 1000 until 2028ish - anything can happen to those pie-in-the-sky projections. So why pretend that you've achieved something in the way of cost reductions until they actually occur? Dumb.

And then there's the high grade Bast zone not being able to be processed until 2025 onward - what was the holdup on the gravity circuit? They first talked about its 'close proximity' to the underground stopes in 2020. 5 years later it might get incorporated? Sheesh.

All in all I don't see a catalyst to get excited about unless the new concessions hit some great prospects - even then the timeline goes out so long to production - hard to justify a buy

I suppose Mr Horgan feels whatever he says today won't be scrutinized in the future so speculate away - only thing is the under promise over deliver days at Centamin have turned into under promise and underdeliver - but that's only my take - i'd like to hear an alternate view by current shareholders - please convince me I'm way off the mark

Kareem Elkady

Administrator at Sukari Golden Mine

3h •

ما ينفعش تبقي مدير مسئول الا لما تفهم يعني ايه نفس بشرية بتتأثر بالسلبية و التقليل من الشأن و اللوم و قلة التشجيع.

متبقاش مدير إلا لمًا تفهم إنك مسئول عن نفسية الناس اللي شغاله معاك و تخلي معنوياتهم في السماء يا تنزل بيها ل سابع أرض.

متبقاش مدير الا لما تخلي الناس تصحي لشغلها و هي عايزه تروح مش شايلة هموم الدنيا فوق كتافها.

متبقاش في منصبك همك بس الشغل يخلص حتي لو علي حساب نفسية إنسان و تقطيمه.

خلي ده هو معيار نجاحك.

By:Azmi Gaber

#sukari_golden_mine

It is not useful to remain a responsible manager unless you understand what it means for a human soul to be affected by negativity, underestimation, blame and lack of encouragement.

There is no manager left unless you understand that you are responsible for the psychology of the people who work with you and empty their spirits in heaven or bring it down to the seventh earth.

There is no manager left except when you let people wake up to their work, and they want to go away, not carrying the worries of the world over their shoulders.

You don't remain in your position, but work is saved, even if at the expense of the psychology of a human being and breaking him.

Let this be your criterion for success.

B:Azmi Gaber

#sukari_golden_mine

https://www.linkedin.com/posts/kareem-elkady-ba6380190_sukariabrgoldenabrmine-activity-7116060342631174144-VXIT

Abdulrahman Mohamed and 8 others

----------------------------->>>>

As I follow news of Sisi's run for a 3rd term , it's clear Egyptian politics are a strange mix of pseudo religion, superstition and nationalism. I suppose in some ways Egyptians get out what they put in, which isn't great for their economy, unfortunately.

Centamin Shares Moved From Strong Hands To Weak16 Aug 2023 16:25

I see Siko's rebuttal to my posts about Egypt have garnered many 'likes'

I am glad Siko is still posting and setting the record straight about the facts on the ground

However, the bitter pill many private Centamin shareholders are refusing to swallow is that strong hands (institutional investors) have already made their decision to sell. Like I posted before the major shareholder info on Centamin's website is not up to date. Institutions that had held for over a decade have SOLD over 200 million shares. Now many of these shares are in weak hands. What does that mean? It means many new holders won't hesitate to sell when spooked. They are not in for the long term.

https://www.marketscreener.com/quote/stock/CENTAMIN-PLC-9730915/company/

Centamin's management (chiefly Mr Horgan) has faced a confidence crisis and lost the trust of many mining analysts/portfolio managers - one remaining of which is reassessing her position. Actually THE largest position (currently Centamin's largest shareholder) You can contact her yourselves:

https://www.linkedin.com/in/imaru-casanova-75b58b64/

I will not be surprised if in the coming days and weeks she decides (if she hasn't already) to significantly reduce her Centamin holdings (nearly 10% of Centamin's float). When this happens it will be just more bad news for Mr Horgan and the share price stability going forward.

Can things turn around? Yes! The Market does not have access to the information Mr Horgan has access to. Step out drilling, geophysical surveys, satellite deposit resource figures and grades, the legitimacy (or not) of the bonanza zone, negotiations with EMRA, negotiations with interested 3rd parties - all is not lost. Yet, Mr Horgan hasn't made the choices that pleased the institutional investors - and many of the unanswered questions I've raised over the last few years are still unanswered (or the answer is not favorable)

Imaru talks about her promotion to manager of the VanEck gold ETF group of funds here:

https://www.youtube.com/watch?v=QQ-8sNJeYlo

Dictators and thugs, every one. Here's a quote from Egypt's Sisi just published:

Calling his detractors “liars, saboteurs and wicked”, the Egyptian leader sought to rebuff criticism of the multibillion-dollar infrastructure projects he has undertaken since taking office, which are described by critics as unnecessary, extravagant and major contributors to Egypt’s economic crisis.

“Don’t you Egyptians dare say you would rather eat than build and progress,” Mr El Sisi said. “If the price of the nation’s progress and prosperity is to go hungry and thirsty, then let us not eat or drink.

“Don’t undermine the cause of our nation and make us the world’s laughing stock. Stand fast and transform the cruel circumstances we are going through into a gift. The harder you stand fast, the sooner it (economic crisis) will pass,” he said on Saturday, the first day of a three-day forum during which, according to Mr El Sisi, the story of Egypt since 2011 will be told from the state’s perspective.

With most of Egypt’s 105 million people struggling to cope with soaring food prices – inflation was at nearly 40 per cent in August – Mr El Sisi’s message to Egyptians to make do with even less may be seen by some as unrealistic, or even odd.

“What kind of country do you want to live in? Do you want to build Egypt and make it a nation of note, or not? Do you consider building an adventure? Do you consider reform an adventure?” Mr El Sisi said on Saturday.

The president's message that Egyptians should make do with less for the sake of the nation is being repeated, in different phrasing, by dozens of content creators across social media pages that have popped up in recent weeks to support Mr El Sisi in the December vote.

“Egypt needs a new president. El Sisi has done everything he can to protect Egypt and must be offered our thanks. Ten years are enough.”

Another senior politician, former MP Mohamed Anwar Al Sadat, warned that Egypt could be divided or even plunged into chaos because of the economic crisis and the lack of genuine democratic rule.

“We need free and fair elections that are not engineered in advance. A vote that guarantees a just political environment. An election with results that are not known in advance and which are held in a competitive framework,” Mr Al Sadat said.

https://www.thenationalnews.com/mena/egypt/2023/10/02/el-sisi-tells-egyptians-to-make-do-with-less-as-criticism-mounts-ahead-of-elections/

So, for those hoping the BRICS will somehow put the US 'in its place' - I ask you, do you want the likes of India's Modi (who recently had a Canadian murdered on our own soil) or Putin or Sisi to rise to global dominance? I certainly don't.

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