Member Info for Cowichan

The new hikes will hit the industrial sector with a 40 per cent increase, according to Al-Masry Al-Youm.

Talking at the cabinet’s weekly press conference on 22 August, Madbouli said that the increase in electricity prices would be negligible for lower consumption brackets compared to higher ones.

https://english.ahram.org.eg/NewsContent/50/1202/530864/AlAhram-Weekly/Economy/Electricity-prices-increase.aspx

---------------------------->>>> and that's just the beginning, electricity rates for industrial users like Centamin is scheduled to rise much much more

August 19, 2024

Nuinsco Resources Limited today announced that it has served the Government of the Arab Republic of Egypt with a legal Notice of Dispute on the grounds that Nuinsco’s investment in the el Sid gold project in Egypt has been damaged by the actions and omissions of the Government of Egypt.

The Notice of Dispute is served pursuant to the provisions of the Bilateral Investment Treaty (the “BIT”) concluded between the Government of Canada and the GOE for the Promotion and Protection of Investments. Nuinsco holds license interests in dumps and tailings located in and around three areas: El Sid, El Fawakheer and Attallah, in Egypt’s Eastern Desert, all granted under a Contract for Evaluation, Extraction, and Exploitation of Gold (ore) and Associated Metals. The Contract, concluded in November 2018, is between Shalateen for Mineral Resources and Nuinsco’s majority (70%) owned subsidiary, Z-Gold for Mineral Resources. Shalateen is a state-owned enterprise affiliated with the Egyptian Mineral Resources Authority, also known as EMRA.

Z-Gold has performed its obligations under the Contract, however, its activities have been hindered by actions and omissions that are solely attributed to State organs affiliated with the GOE. Ultimately, receipt of a contract termination notice, received while Z-Gold, Shalateen and the relevant State organs (EMRA) were negotiating to execute an agreement to resolve the impairment of the actions above referenced, caused Nuinsco to deliver the Notice.

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In addition to this kerfuffle, Capital Drilling has just been hauled before EMRA's new chief to face questions regarding the 4 year waste clearing contract overcharge to Centamin.

Depending on what answers EMRA gets from Capital (Jamie Boyton, Chairman of the Board of Directors, Brian Rudd, the Executive Director, and Khaled Mortagy, Chairman of the Company in Egypt) Centamin's $100 million disputed owing may get 'settled' similarly to above... see you in court, Egypt

https://egyptoil-gas.com/news/badawi-reviews-the-developments-of-mining-companies-in-egypt/

https://www.juniorminingnetwork.com/junior-miner-news/press-releases/2683-cse/nwi/165831-nuinsco-serves-legal-notice-of-dispute-with-the-egyptian-government-regarding-the-el-sid-project.html

August 15, 2024

Banks began over the past two weeks to slow the pace of financing for importers of various goods and products, according to ten sources who spoke to Mada Masr in recent days on condition of anonymity.

The sources said that the slowdown has raised alarm among importers, manufacturers and traders that another bout of dollar scarcity could weaken the value of the Egyptian pound.

Spanning sectors including gold, medical supplies, engineering industries and clothing, the ten sources told Mada Masr that banks now take over a week to confirm finance credit guarantees for importers — a step that previously took no more than 48 hours.

A former government official, now in the private sector, told Mada Masr on condition of anonymity that traders too are now setting the exchange rate at LE52 to the dollar for payments on transactions due within a week, or at even higher rates for longer payment terms.

https://www.madamasr.com/en/2024/08/15/news/economy/sources-banks-have-slowed-import-financing-for-some-sectors-speaking-fears-of-renewed-dollar-scarcity/

I posted an image of the ABC project off the cadastre portal with the new name clearly shown

https://www.linkedin.com/posts/don-lawson-98619370_centamin-activity-7230228863581110272-pT9w

Who can say why the delay, but I did hear thru the grapevine and it has been confirmed via the Ivory Coast Mining Cadastre website that Centamin's ABC project was recently transferred to a new entity, namely "One Hundred CI"

see parcels PR-705, PR-658, PR-0877, PR-app167

https://portals.landfolio.com/CoteDIvoire/en/

https://www.centamin.com/assets/abc-project/

Why?

- aside from the obvious aversion to her skin tone the constituents of this forum are Putin/Trump fans whom advocate a hands-off approach to helping those in need

applauding Russia for murdering Ukrainians & abducting their children , at least that's what their hero Trump does

feigning support for Palestine liberation, as long as Palestinians do it themselves somehow

the real important thing in life , one must remember , is to advocate against currency debasement and rail against your government spending all its fake currency

oh , and travelling the world incessantly , that's a must too

Trump supporters in a nutshell ; self absorbed , self important , egotistic and clueless

You made an interesting comment about the underground smuggling tunnels into Gaza

if I may summarize , you ascribe to the idea of live and let live , judge not , etc.

I am so glad the government of Australia doesn't take the hands-off approach you propose

neither is the UK, Canada, US or European Union to name a few which all are hands-on opposing the Russia, N Korea , Iran alliance

here's a twitter account to follow for anyone who ascribes to gold g. nome's thesis , as it pertains to Africa in particular , a continent gold g. nome says he's oft visiting

Philip Obaji Jr.

@PhilipObaji

Before the coups in Mali, Guinea & Burkina Faso, I warned African Union that Russian disinformation targeted at West Africa will hurt democracies & create a migrant crisis for Europe. Last year, in Berlin, I warned the EU. In Washington, I warned the US. Now, I’m warning Nigeria.

https://x.com/PhilipObaji/status/1820535539638083807

Before the president of Mali was sacked, Russia trained the coup plotters. Before the president of Burkina Faso was toppled, military officers wanted Wagner to work in the country. Some Nigerians are now waving Russian flags. Nigeria must do everything to protect its democracy.

https://x.com/PhilipObaji/status/1820506575695392791

In the Central African Republic, Russian paramilitaries have carried out numerous human rights abuses including extrajudicial executions

https://x.com/PhilipObaji/status/1820128542434148602

Your keen interest in my posts has me flattered

Centamin indeed became a sponsor a couple days before the actual forum - which itself is an unusual move. Normally a company would like to take full advantage of being a sponsor , having that announcement made months in advance. The fact that the EMRA coerced a financial payment from Horgan less than a week before its opening reveals the nature of Egypt's fiscal policy and Centamin's inability to refuse (i.e. bribes/extortion a way of life)

Sorry Rebess , that includes you

The cote d'ivoire permit that holds the majority of the Doropo deposit is one of the oldest granted to Ampella

PR-334 granted June 12, 2013 / expired June 11, 2024 after several renewals

tis exactly what happened in Burkina, Horgan fluffed off concerns that the permit was defunct and deflected questions in that regard until at last he admitted there was a 'disagreement with the ministry as to expiry date(s)' - I hold he also lined the pockets of his London associate well after the permit died with ongoing payments 'tagged' for the mining ministry of BF , but that is purely BS accounting and likely fraud

The real tell this time is the delayed investment decision until H1 2025 , could Horgan be more disingenuous? no. Does Horgan give a f*ck? no. a crooked crook is a crooked crook

https://portals.landfolio.com/CoteDIvoire/en/

Https://ca.marketscreener.com/quote/stock/CENTAMIN-PLC-9730915/company-shareholders/

If that ain't enough, now Horgan says wait until H1 2025 for Doropo investment decision.

Why delay? Reason #1 is because rabid dog Egypt is demanding $100million in 'lost' profit from Sukari operations

Reason #2 , Doropo's permit expired with no recourse to extend (unless bribes fly in Cd'Ivoire)

On 14/7/2024 PAS completed an airborne geophysical survey with its AS350 Helicopter in the Hamesh Area in favor of Barrick Gold Egypt

https://www.linkedin.com/company/petroleum-air-services/posts/

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Hey Siko, that's positive news for Egypt , and taken together with what Mr Horgan boasts here:

"as Centamin, we have brought the global Barrick Company to work in Egypt to enrich the Egyptian market and the mining industry."

perhaps a Sukari buyout have been ongoing? Indeed, one can only hope, given Barrick's global clout and Saudi investments, they are infinitely better suited to play hardball with any outstanding demand for reimbursements by EMRA

Posted 1 hour ago

Eng. Karim Badawi, Minister of Petroleum and Mineral Resources, met with Martin Horgan, Chairman of Centamin, the global gold company, on the sideline of the third edition of the Egypt Mining Forum. The two sides discussed the results achieved by the Sukari gold mine and the added value it brings to the Egyptian mining industry. The two sides agreed to organize a visit soon to inspect the progress of work at the mine.

The Minister affirmed the government's commitment to its partnerships and resolving pending issues related to investment

https://www.linkedin.com/company/emra-eg/posts/

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this is for anyone who still insists there are no pending financial issues between EMRA & Centamin

Tuesday, 16th July 2024 by Fatma Ahmed

Horgan announced that Centamin has launched three initiatives to develop the mining sector in Egypt and plans to build a mining school in the country.

https://egyptoil-gas.com/news/centamin-ceo-projects-5-million-ounces-of-gold-extraction-in-egypt-over-next-decade/

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

Mr Horgan has jumped from defiant to desperation over the course of the last few weeks. Capitulation to the EMRA's monetary demands will end in ruin for shareholders.

Goldgnome says Mr Horgan is better than Pardey? Same cloth. The Doropo DFS has languished at the bottom of the CEO's to-do list while Centamin's last remaining limp wristed shareholders convince themselves the man can do no wrong. Enjoy your avacado and toast down under Down Under.

"Increasing the Central Bank of Egypt's reserves to double the current volume of 126 tons should be one of the most important goals of the Minister of Petroleum and Mineral Resources."

https://www.linkedin.com/posts/suzan-nour-67a196b8_

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

My Thoughts

The main source of new gold for the Central Bank of Egypt over the last ten plus years has been Centamin. And why? Because Egypt didn't have to pay for it all upfront - just like they didn't have to pay oil companies up front and have run up $ billions in arrears (of which they will never , ever pay off)

The Egyptian media's push for more gold at the CBE is a precursor to Sukari nationalization - but of course it won't be so obvious, it will be sold to the international business world as a compensation for unpaid profit share over many years of supposed underpayment. By EMRA's calculations, $ 100 million USD & rising...

Why is the new petroleum minister in danger?

A colleague sent me a reproach for criticizing the new minister, Karim Bedoui, and asking me to give the man a chance at least three months?

My response to the colleague was that Egypt unfortunately, does not enjoy the luxury of conducting experiments for 90 days, as we are currently facing an acute shortage in natural gas production, which is necessary for the operation of power stations and our factories, and this situation requires attention and immediate action, because LNG shipments are a temporary solution and we cannot rely on them as a sustainable solution for energy security.

Therefore, he must have a quick plan and strategy to put development wells on the production map, otherwise it will keep the Egypt under the threat of frequent power cuts and the depletion of the central bank's foreign currency reserves.

In addition, from day one, I am concerned that Eng. Karim Badawi has not announced a comprehensive annual work plan and measurable goals, and therefore without this crucial information, it becomes difficult to properly evaluate his performance.

So he is a minister in danger because he may find himself in a precarious position even before he starts his work.

Suzan Nour 6h • https://www.linkedin.com/posts/suzan-nour-67a196b8_

Egypt Projectsمشاريع مصر

83,711 followers

19h

Karim Badawy is an experienced petroleum engineer in the energy sector, starting his career at Schlumberger where he rose through the ranks to become General Manager of Schlumberger Egypt and the Eastern Mediterranean, Badawy is distinguished by his ability to lead the strategy and his future vision to develop the petroleum sector by adopting the latest technologies and enhancing local competencies.

https://www.linkedin.com/in/karim-badawi-0a78384/

Reservoir Characterization Group Operations Manager - Russia and Central Asia

Jun 2017 - Present · 7 yrs 2 mos

Moscow, Russian Federation

Leading the Schlumberger Reservoir Characterization Group for Schlumberger in Russia and Central Asia.

The Reservoir Characterization Group include the following Schlumberger Product lines : Wireline, Testing, One Surface, Software Integrated Solutions (SIS), Integrated services Management (ISM) and Western Geco

Report to VP of Reservoir Characterization Group for Schlumberger Eastern Hemisphere and to Russia and Central Asia Schlumberger President. Leading the Schlumberger Reservoir Characterization Group for Schlumberger in Russia and Central Asia. The Reservoir Characterization Group include the following Schlumberger Product lines : Wireline, Testing, One Surface, Software Integrated Solutions (SIS), Integrated services Management (ISM) and Western Geco Report to VP of Reservoir Characterization Group for Schlumberger Eastern Hemisphere and to Russia and Central Asia Schlumberger President

Vice President Testing Services - Russia and Central Asia Vice President Testing Services - Russia and Central Asia

Jul 2015 - Present · 9 yrs 1 mo

Moscow, Russian Federation

Vice President Shared Services - Russia and Central Asia Vice President Shared Services - Russia and Central Asia

Oct 2011 - Present · 12 yrs 10 mos

Moscow Region, Russian Federation

Schlumberger recently launched a Global Shared Services Organization worldwide as a key strategic initiative, I am currently managing the Russia and Central Asia Area Shared services organization wich provides services to our 15,000 employees in the region. Key Functions in the Shared Services Organization include : IT, Human Resources Regional Support Center, Finance Regional Financial center, Contracts, Procurement, Logistics, Material Management, Compliance, Visa and Imigrations, Facilities management and Regional Branch organizations.

A very exciting challenge to leverage our size to our competitive advantage amidst a very dynamic and unique business environment with the mix of traditional Schlumberger activity and growth combined with an active Merger and acquisition Environment and its associated Integrations opportunities, all of which to the benefit of our Shareholder

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As said before, don't be surprised if a Russian company is operating Sukari fairly soon

Egypt Mining Forum

We are thrilled to welcome Brian Wesson, Chief Executive Officer of Osiris Resources, as a distinguished speaker at the Egypt Mining Forum, in Cairo next month from 16 - 17 July. With over 40 years of technical background as a mining engineer, Brian will share his perspectives on the industry’s approach to becoming more sustainable and responsible whilst increasing the supply of the critical minerals needed to achieve net zero.

https://x.com/EgyptMiningShow/status/1805918943263264900

A former CEO of Otso Gold (TSXV: OTSO), Brian Wesson, has been detained in Finland and remains in pre-trial custody under criminal suspicion of aggravated embezzlement and payment fraud, the company has disclosed.

Wesson is the managing director Lionsbridge Capital, which until recently was retained by the company to manage the Otso gold mine.

Wesson resigned from Otso on November 30, after representatives of the board, together with Alvarez & Marsal, which is currently providing chief restructuring and chief financial officer services to the company, informed him that they were on their way to the mine site. Clyde Wesson, formerly a VP and a director of Otso, also resigned at the time.

Otso said Alvarez & Marsal was seeking to determine the whereabouts of specific computer devices, files and property that appeared to have been taken from the company at the same time as the resignations.

Alvarez & Marsal was also said to be investigating specific issues and discrepancies relating to the company’s financial transactions and records, Otso noted in a press release.

“The criminal suspicions facing Mr. Wesson are extremely serious. We are grateful to the Finnish authorities for the speed of their response, and we will continue to assist law enforcement in their investigation,” an Otso spokesperson said in a statement.

https://www.mining.com/otso-gold-ceo-fraud/

Vincent van Wyk

Controls & Instrumentation Supervisor

Centamin PLC

Jun 2024 - Present

Egypt · On-site

Industrial Automation, Process Improvement Projects

Maaden Barrick Copper Company

Senior Instrumentation Supervisor

2018 - Jun 2024 · 6 yrs 6 mos

https://www.linkedin.com/in/vincent-van-wyk/

Nadir Elsayed, Tech IOSH

Safety Supervisor at Centamin| SUKARI GOLD MINES

June 24,2024

Legislative Measures in the GCC:

Bahrain: Outdoor work prohibited from 12:00 to 16:00 between July 1 and August 31. Employers must provide safety equipment and educate workers about heat stress.

Kuwait: Outdoor work prohibited from 11:00 to 16:00 between June 1 and August 31. Restrictions apply when temperatures exceed 48.89°C.

Oman: Outdoor work prohibited from 12:30 to 15:30 between June 1 and August 31. Emphasis on providing cool drinking water and shaded rest areas.

Qatar: Work prohibited from 10:00 to 15:30 between June 1 and September 15 if WBGT exceeds 32.1°C. Employers must provide annual health checks and training.

Saudi Arabia: Outdoor work prohibited from 12:00 to 15:00 between June 15 and September 15. Emphasis on hydration and breaks.

United Arab Emirates: Outdoor work prohibited from 12:30 to 15:00 between June 15 and September 15. Emphasis on hydration, breaks, and the use of light-colored clothing.

https://www.linkedin.com/feed/update/urn:li:activity:7211068228318461952/

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My Thoughts:

Could Sukari production be reduced over employees' concerns for personal safety during peak heat periods?

Are you a shareholder ? As you know our old friend Josef El-Raghy is enthusiastic about Cote D'Ivoire - maybe he's interested in Doropo?

We're pleased to announce the commencement of our RC drilling program at the Bouaflé Project in Côte d’Ivoire.

Highlights

🌟RC drilling program comprising up to 10,000m underway.

🌟Targeting the 10 strong mineralised trends previously identified, each of +1km strike of continuous high-grade gold potential.

Josef El-Raghy, our Executive Chairman, shared, “We are delighted to launch this RC program at Bouaflé as a logical and systematic follow-up on the exploration work previously completed there. Bouaflé is an exciting exploration project in Côte d’Ivoire, which has already demonstrated a strong mineralised gold footprint at significant scale. We continue to advance high-quality prospects across our Côte d’Ivoire tenure portfolio"

https://www.linkedin.com/posts/wiagold_wia-i-asx-announcement-270524-activity-7200674867950596096-EnwE

https://wiagold.com.au/