Member Info for Cowichan

The analysts are useless but you can bet the gold majors are keeping a close eye on Centamin. Remember Cleopatra & The Gap are coming on line - the extra crusher may streamline production processes & boost recovery but the added tonnage from high grade underground is what's poised to lift 2018 ounces substantially...

628kg - talk about ending the year with a bang! Thanks Siko for the update & Happy New Year everyone

Mining deals have totaled $62 billion this year, down from $74 billion last year and less than half the levels of 2012, data compiled by Bloomberg show. “There will be a lot of mergers in the next 12 to 24 months,” Tretter said. “The market is pretty desperate for new exploration. That will change the strategies of the majors. They are struggling because they have to buy in, do joint ventures and have a look at companies at a way earlier stage.” https://www.bloomberg.com/news/articles/2017-12-29/year-s-best-commodities-fund-is-betting-on-mining-m-a-in-2018

I think El-Molla talking to the politicians last week was encouraging. He needs their support to make the kind of changes the mining industry in Egypt will need to get investors interested. Also, management recently pointed out that they are readying targets for resource drilling outside of Sukari hill - maybe it's already begun.

The one year & five year chart is dismal. If anyone wanted to take them out now is the time. https://web.tmxmoney.com/quote.php?qm_symbol=eld

Case in point - the management of this mine had to see this coming months in advance yet they only issued a statement once processing operations were suspended! Ridiculous. Canada's Centerra Gold (TSX:CG) issued a media statement where it explains that it had to suspend mill processing operations at its Mount Milligan copper-gold project in central British Columbia due to insufficient water resources. The stoppage is expected to last until the end of January 2018... http://www.mining.com/centerra-gold-halts-mill-operations-british-columbia-due-lack-water/

Mining currently contributes around 0.5 percent of the GDP, which El-Molla described as "shameful" given the sector’s potential for greater income. El-Molla also said that the government is working to identify the challenges facing the sector, adding that it lacks an "integrated and coherent investment system." El-Molla says his ministry aims to boost investments by overhauling the sector's administrative and legislative system Egypt's Sukari mine, the country's sole gold-exporting mine, has contributed a total of $250 million in revenues to the government since it started production in 2009, Petroleum Minister Tarek El-Molla said at a parliament meeting http://english.ahram.org.eg/NewsContent/3/12/286084/Business/Economy/-mln-generated-in-revenues-from-Egypts-Sukari-gold.aspx

Thanks Siko! Your calculations are a welcome conclusion to the year. Of course we always want MORE but consistency in meeting targets is paramount.

TORONTO (Reuters) - Barrick Gold is actively reviewing acquisitions and in the past 18 months considered at least one transformational deal, as it seeks to boost looming production declines and drive growth, four people familiar with the company’s thinking told Reuters. Toronto-based Barrick, whose gold production has declined every year from 2012 to 2016, has historically been acquisitive but has spent recent years focused on debt reduction. It also wants to use equity to pay for acquisitions, instead of increasing its debt, the people said, adding that Barrick is on the lookout for deals of scale. https://ca.reuters.com/article/businessNews/idCAKBN1EG2BT-OCABS

Razor, just when you find the paper you'll discover the tape dispenser is done..

And it came to pass in those days, that there went out a decree from Caesar Augustus that all the world should be taxed... Hmm, besides the names not much has changed. Merry Christmas to all my Centamin friends!

Super! Education among policy makers is the first step to change. I'm liking the new and improved EMRA...

In case of a rainy day... ACACIA Mining shored up its balance sheet further by agreeing to sell a 2% net smelter royalty in the Houndé mine in Burkina Faso for $45m. The buyer of the royalty is Sandstorm Gold, a Toronto- and New York-listed company... The transaction is expected to close in the first quarter of 2018. The transaction “… together with the measures taken at both Bulyanhulu and Buzwagi to reduce cash outflows, will provide further strength to our balance sheet,” it said. The disposal will offer another modicum of comfort to minority shareholders in Acacia Mining who had endured a torrid year which started with hopes high for increased dividends and record production.... http://www.miningmx.com/top-story/31224-acacia-secures-45m-cash-boost-gordon-wray-bid-adieu/

They sell themselves like prostitutes... BMO’s preferred equities are B2Gold Corp., Centamin Plc., Detour Gold Corp., Endeavour Mining Corp., Kirkland Lake Gold Ltd. and Semafo Inc. https://twitter.com/EconomicAlpha/status/943097227903369216

You're right. Plus, buying back shares will increase the divi to the remaining shareholders. Win-win! Cheers!

MrBond, Nice to know that we mostly agree, esp. 'to manage safely the overall interests' which is fiduciary duty. (1) the duty of care, (2) the duty of loyalty and (3) the duty of good faith. (1)The duty of care requires control persons to act on an informed basis after due consideration of all information. (2) The duty of loyalty requires control persons to look to the interests of the company and its other owners and not to their personal interests. (3) The duty of good faith requires control persons to exercise care and prudence in making business decisions—that is, the care that a reasonably prudent person in a similar position would use under similar circumstances.

I can understand the reluctance one might feel in entering the fight but it's really not politics we're fighting - it's the corrupt charges. I couldn't care less if Law 32 gets approved. Heck - the law might not be in the best interest of Egyptians! But what we cannot ignore is that erroneous charges were brought against our vested interests and it's Centamin's fiduciary duty to defend its shareholders against these charges in court. Who knows what other opportunities have passes us by during the subsequent years. If our share price was not hindered perhaps we would have made other purchases - other mines now operating under Centamin's control. When you're drowning under litigation making waves is the only option to stay afloat. IMO

I am thinking this too! Hell, what's wrong with putting some of our own legal pressure back on the namby-pamby weasels running the country? I understand the EMRA and various gov't entities are essentially co-defendants with Centamin but that doesn't hold them guiltless in settling this erroneous lawsuit. At the very least a new mining concession should be signed to get this millstone off our necks - damn it's been 5 years hasn't it? PS - If Centamin's busy PR unit is reading our rants they should take a look at Endeavour's latest presentation - it's got every stinking detail an investor could want ton know about what their company is planning to do with their shareholders' equity... https://s21.q4cdn.com/954147562/files/doc_presentations/2017/11/171123-Endeavour-Corporate-Presentation-VF.PDF

Newmont's Flagship Carlin mine has been producing for 30+ years - operations consist of three open pits and four underground mines. Carlin produced 944,000 ounces of gold in 2016; has 15 million ounce reserve. First Production: 1983 ; 2018 estimated AISC $ 980 -1050 forecast production approx. 980,000 ounces In comparing 'flagship' metrics like these Sukari is sitting pretty...

https://twitter.com/peternbell/status/940631292923715584