RE: Share buy back26 Mar 2018 17:01
They do the same thing every year but have yet to act � and just as I say I didn't get a response from my inquiry what do I find in my inbox... a response !
Thank you for your correspondence. I am sorry for your disappointment in the past year or so. The stated strategy of the company is to return at least 30% of free cashflow to shareholders (the last dividend was over 100%). It is more or less balanced in terms of receiving cash as a dividend or to buy back shares. In the past, there is an abundance of shares in issue and feedback from most shareholders has the preference to have returns in cash. The dividend of 12.5c per share (or 9p) is equivalent to c.6% yield. The financial results from 2017 were also ahead of market expectations,
So that you can compare the share price Performance of Centamin on a relative basis Compared Centamin's share price since March 2016 (ie 2 years) vs the gold mining companies index of Asia / Africa and Middle East, as well with Randgold, the reputed leader in the UK market (Centamin is the white line). The second graph is Centamin vs the Gold spot price - the same time frame and Centamin is the white line. Again, Centamin has significantly performed all of these benchmarks.
I will certainly go on your concerns to the investor relations manager at Centamin. We would certainly hope the share price performance of Centamin will not outperform its closest benchmarks, but significantly outperform these benchmarks. However, we are somewhat more likely to have a negative impact on the environment than others, particularly in the US, which has implications for the US dollar, which is broadly regarded as a natural hedge against gold spot.
I do not know the answer. If it does not help you get back in touch.
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