Member Info for Cowichan

That's an idea. But I'm not sure the future ROI from a drilling company is very appealing - at least not to gold bugs.

'If Capital gets another Sukari-type contract in the next nine months (highly likely, say reliable sources) the swing of the needle to the upside would bring about a serious share price re-rating.'

https://www.capdrill.com/news/capital-limited-has-never-had-it-so-good-mining-journal-article

-------------------------------->>>
My Thoughts:
There are benefits to partnering with a mining contractor like Capital to hire and manage the load & haul workforce in Cote D'Ivoire - not to mention their financing the trucking fleet. The 9 month timeframe lines up with the Doropo DFS to be released mid 2022

Very kind words!

I know I've been a squeaky wheel - perhaps a little too long. Glad to put the Burkina era behind us.

Although, there is still the matter of who will buy Batie... or codevelop Batie.. or ?? But I'm done asking - as MrBond said last week, Mr Horgan has more important matters to contend with than second guessing what, why or how the Burkina portfolio fell apart.

She asked a VERY difficult question of Mr Horgan and it DID get answered. (Fast forward to about the 50 minute mark of the presentation to watch.)

Takeaways:

- The Wadaradoo & Napelapara deposits in Burkina Faso which are said to contain >1.4 million ounces of gold, the core samples, the data/logs and all the discovery work Centamin accomplished PRIOR to Mr Horgan's arrival have all gone to Altair Resources

- The three unnamed arms length individuals (and the mysterious finders fee man) stand to make tens of millions for facilitating the sale to Altair Resources. The ongoing concern I have is those directors still employed with Centamin who allowed this uncontested forfeit of assets. Yes, Andrew Pardey, Mark Morcombe and a few others were removed - but is the quality & integrity of any of our remaining directors an issue?

- Mr Horgan has surrounded himself with trusted experts he's worked with in the past and I'm thankful for it.

- Burkina Faso seems like a country we DO NOT WANT to do business in considering the way they've treated Centamin. What country awards charlatans the rights to potentially billions in asset value at the drop of a hat? I say good riddance Burkina Faso 'land of honest men' my *ss

- Centamin's exploration plan now underway in Egypt is far beyond what I estimated - the scope wider and more technically advanced than I understood - I'm excited to see the results

- All in all a very detailed presentation - I saw that candidinvestor was curious about life of mine projections - as I see it management now has the goal of drilling out and proving the underground mine life to equal that of the open pit i.e. the open pit is around ten years and the underground was historically only a year ( not due to a lack of gold resources but as they say a lack of drilling data )

- loads more can be said - but I'll wait for goldgnome or dasut and the rest of the experts to chime in

Thanks for sharing. Just goes to show the situation in Burkina has always been complicated!

Also, for anyone wishing to submit a last minute question for Centamin's Geology Event (happening in 12 hours or so) the registration page allows submissions directly too - after registration.

https://webcasting.brrmedia.co.uk/broadcast/612e5ff612f0cb436ea6856e

I really appreciate your words of support.

As I stated before it's unclear if these recently announced Altair Resource concessions are the same as previously held and worked Centamin concessions - but the fact that they're only 35km from the Batie resource we still need to sell means it's worth hearing from Centamin one way or another.

Centamin has admitted they no longer hold the Wadaradoo & Napelapara concessions (an admission it took years to whittle out of them) - that means somebody else is going to benefit from all the drilling done on those sites and surrounding areas. That in itself is a great loss to us and will be a great gain to some third party - whoever that third party might be...

'If Capital gets another Sukari-type contract in the next nine months (highly likely, say reliable sources) the swing of the needle to the upside would bring about a serious share price re-rating.'

'Contract mining may be the big new thing for Capital, but don't forget assay services, said Berenberg.'

'The broker's mining analyst Richard Hatch has highlighted Capital's geochemistry business, dubbed MSALABS, which he believes could grow group revenue by around 20%...'

https://www.capdrill.com/news/capital-limited-has-never-had-it-so-good-mining-journal-article

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

My Thoughts:
Capital's new Egyptian assay lab in Marsa Alam should be up and running within weeks.
I hope it is in anticipation of a BIG new deal with Centamin - expansion has been long overdue.

Dear Don Lawson,
As per our website and corporate communications, Centamin does not hold the exploration licenses you are referring to. Exploration was carried out on these licenses in 2015-17 and no commercial discoveries were made. For further detail on the Batie West project I would refer you to the announcement made on the 27 May this year. For ease please find a link here: https://www.centamin.com/media/2403/west-african-portfolio-confirms-growth-potential.pdf .

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

So then we NOW KNOW Napelapara and Wadaradoo are GONE. So I added this question to our LinkedIn thread :

---->>

Will Centamin PLC confirm Altair Resources has now purchased those previously held #burkinafaso resources Centamin PLC's shareholders financed & drilled in 2015 through 2018 as indicated in the press release below?

Altair Res. announces the signing of a binding agreement with three arm’s length private individuals.
Extensive diamond drilling, RC, trenching, air core & auger work totaling 387,000 meters have been completed. Approx. 100km of diamond drill core from previous exploration has been logged, indexed & stored, & are available for Altair’s geologists.
The May 2018 Estimate disclosed in a report by the Sellers does not comply with NI 43-101
Altair will make a cash payment of US$2.3 million to the Sellers, & upon the completion of Form 43-101 additional US$7 million.
At the end of 2nd and 3rd years an additional US$9 million.
At the end of each of the 4th and 5th years US$10 million.
Altair Chairman/CEO, “We are extremely excited to acquire such an advanced exploration asset having nearly 400 km of drilling

https://lnkd.in/eckmrDRv

Martin Horgan Craig Murray Marna Cloete Catharine Farrow Sally Eyre Ross Jerrard James Rutherford Mark Morcombe Norman Bailie Wayne Koshman

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

My Thoughts:
Until we find out if indeed these Altair concessions are the missing concessions I'll reserve judgement.

But if it turns out these ARE the relinquished concessions - what then? Are shareholders just supposed to yawn and look the other way at Centamin's purposeful silence, denial and indifference?

Does this amount to criminality? Who are the three arms length individuals? Who on the board of directors approved vs resisted allowing these concessions to be relinquished and to what purpose?

Altair Resources is so very excited to get these concessions and are BOASTFUL of all the drilling and exploration work done. They are also in possession of a maiden resource estimate - no it's not yet NI 43-101 compliant but apparently it's just a matter of having the right personnel i.e. qualified geologist crunch the data already available and sign off.

Boom, instant open pit reserve/resource ready to mine.

How is that not a substantial loss to Centamin shareholders?

Altair Resources today announced the signing of a binding agreement with three arm’s length private individuals...

Extensive diamond drilling, reverse circulation drilling, trenching, air core and auger work totaling 387,000 meters have been completed...

...approximately 100,000 meters of diamond drill core from the previous exploration program has been logged, indexed and stored, and are available for examination by Altair’s geologists for further sampling and analyses.

... the Historical Estimate was disclosed in a report provided by the Sellers to the Company with an effective date of May 2018, the estimate does not comply with NI 43-101 on the date the Technical Report was prepared

...Altair will make a cash payment of US$2.3 million to the Sellers, and upon the completion of Form 43-101 with a minimum combined indicated and inferred resource of at least 1.3 million ounces of gold, Altair will issue 3 million shares and make a further cash payment of US$2 million to the Sellers

...on each of the events of reaching commercial production of (1) at least an annualized rate of 90% of the production contemplated by the FS from stable production of at least 6 months, and (2) at the end of the first year of commercial operations, Altair shall pay an additional cash consideration of US$7 million...

...at the end each of the second and third years of commercial operations, Altair shall pay an additional US$9 million of cash consideration...

...and at the end of each of the fourth and fifth years of commercial Operations, Altair shall pay additional cash consideration of US$10 million...
Altair Chairman & CEO, stated, “We are extremely excited to have entered into a Binding Agreement to acquire such a quality, advanced exploration asset in a very prolific gold producing region, having nearly 400 kilometers of drilling already completed on the prospects. Altair believes these prospects are ready to be quickly advanced to the PEA and feasibility stages with relatively minimal additional investment and time requirement. We are also pleased that most of the purchase consideration comes with significant milestones in the advancement of the properties and after the commencement of production.

An arm’s length finder’s fee will be paid in connection with the transaction.

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

My Thoughts:
If somebody wants to inquire with Centamin all I have to add is:

Who else but Centamin would have drilled and logged that many meters of core samples that close to the Batie deposit WITHOUT issuing a maiden resource estimate for all the time and effort spent?

If this is Centamin's concessions being sold off do the shareholders not have a right to be told?

https://www.altairresources.com/altair-to-acquire-marbera-2-permit-in-burkina-faso/

https://twitter.com/lbmaexecutive/status/1440243554693963778

Now panellists share their views on challenges facing the industry, featuring Natascha Viljoen (Anglo American Platinum), Martin Horgan (Centamin), Mark Bristow (Barrick Gold Corporation), & Paul Fisher (LBMA) moderated by Roger Baxter (Minerals Council South Africa) #LBMA2021

---------------------->>>
My Thoughts:
Wonder if Horgan & Bristow had time to discuss Egypt...

Person Of Interest #1
WAYNE KOSHMAN He is currently the founder and President of Red Sea Resources - an Egyptian based gold exploration company created in 2020. Red Sea Resources just won 5 exploration blocks in Egypt’s Eastern Desert (two of which are just below and just above Sukari.)

In addition to Wayne's Egypt 'business' he is a director with Altair Resources. Altair has just:

- signed a binding agreement for a 90% ownership and 10% Burkina Faso Government ownership for an open pit, 3 deposit, gold exploration project containing 1,388,120 oz of gold (Historic Estimate) at an average grade of 0.95 g/t (COG @ 0.5 g/t).

- The 3 deposits are located in the south west of the country and 35km from Centamin’s Konkera project of 3.1M oz.

- The project is located in the safest area of Burkina Faso, a mining friendly jurisdiction.

- Altair has commissioned a PEA report and completion is expected in December 2021.

- Conventional open pit mining expected in 2024.

- 387,596 m of drilling & 294,504 core samples completed from 3 deposits.

My Thoughts:

35km from Centamin's Konkera deposit seems inordinately close. Do these deposits fall into one or more of the concessions Centamin may have *relinquished* 2 years back (as I was told by IR)

If so it would have been under Andrew Pardey's watch... I will do more digging and report.

https://www.altairresources.com/the-burkina-faso-opportunity/

https://www.linkedin.com/in/wayne-koshman-77285a7b/?originalSubdomain=ca

https://twitter.com/DonLawson_/status/1440373374555803654

.@CentaminPlc this is what #CEY shareholders want to see - our $ used to develop & provide jobs in #BurkinaFaso - investment in PEOPLE passes the long-term shareholder 'rate-of-return hurdle test'
@gouvernementBF
@Buchanan_PR
@Schroders
@vaneck_eu
@HLInvest
@Vanguard_Group

The video link https://youtu.be/4NoeBQWxFhk

https://twitter.com/CentaminPlc/status/1440341116927107078

As we continue to develop our #Sustainability Performance Framework we have updated our #ESG policies in line with industry good practice and launched a new dashboard capturing our annual ESG performance data

Download our ESG dashboard: http://loom.ly/zvyyNRE
#RGMPs #GRI #SASB

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

https://twitter.com/DonLawson_/status/1440352339492171782

Long term shareholders are proud of Centamin's #ESG commitment

However, #CEY has been stuck with ONE #gold mine to manage - unlike many miners who've grown, live ESG & provide new jobs/value thru expansion

#CEY TALKS about growth & performance but in reality has yet to prove it

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

My Thoughts:
'Continuing to develop a sustainability performance framework' sounds important.

I wish management would give equal effort in 'continuing to develop a gold production framework' AND articulate that message to the market and investors.

As Goldgnome recently pointed out, part of the reason - or perhaps the main reason - our share performance is so dismal relates to the fact Centamin doesn't have a strategy to promote what catches new investors attention first - and that is growth.

Mining will continue to be looked at by many as a dirty sector - some will not invest no matter what ESG changes are implemented. We dig up the land and leave what appears to be scars. Fine. But for those who do invest - like us - we still need management to articulate a concrete, achievable path to grow production.

A simple, obvious omission that needs fixing fast.

Good stuff Tibbs - we all need a laugh! And funny business aside - it's entirely true. ;-)

For those who might think I have not yet put my questions to Martin Horgan - I most definitely have - multiple times over many months -just as I suspect have others. Centamin has my personal details, email and personal cell phone number. Heck ,there's probably even a PI driving around my flat as we speak...

Here's a great video presentation on how geophysic techniques actually work in the mine(field!) of mineral exploration

https://youtu.be/575UOG7TJSk

Hopefully we are at the point where Centamin management can elaborate on past discoveries. Namely how far beyond Sukari they've found the ore body has extended - and any new orebodies of note.

An excerpt from Centamin's 2019 Report :

Exploration

'During 2019 the discovery of Horus Deeps was made at Sukari, an exciting target of two high grade dipping structure which is located 300 meters below the current underground infrastructure. Mineralization was similarly intersected below the Ptah and Amun zones, indicating the structure extends to both the north and south.

A surface step-out drill programme is underway in 2020, at 250 meter spacing which will tie into the current seismic programme, increasing the resource potential and geological understanding across the tenement.

In 2019 we commenced a small-scale regional exploration programme outside the mine gate, though within the larger Sukari tenement. There are several underexplored known deposits, all within trucking distance to our process plant.

A 2D geoseismic survey was completed comprising 35km long lines along three independant sections. Initial data interpretation is very encouraging, identifying multiple potential gold systems.

Processing and interpretation of the seismic data will facilitate the construction of 3D models with resolution of structural models to depths of 1.5km'

My penchant for criticism is legendary Tibbs - although I wasn't criticizing this swimmer at all.

I was pointing out the responsibility we all bear as individuals to reduce our carbon footprint.

For instance, we are having an election over here in Canada. The current Prime Minister called the election a full two years prior to the date necessary. That's $600 million spent of public funds to possibly secure the PM a majority government - in the middle of a pandemic - for absolutely no reason at all.

It has forced all six political party leaders to crisscross Canada on their private jets telling Canadians they are the best man to fight climate change...

That in my opinion is hypocrisy. How can anybody take their commitment to the environment seriously when their actions scream - ' do as I say , not as I do'

I could also name dozens of other instances of the political elite using the environment issue to score political points. Is that environmentalism?

Everyday ordinary citizens are often much more environmentally friendly because of their rather small footprint but you'd never know it judging by the ranting politicians who are apparently held to a lower standard.

Also, regarding the swimmer - for those dozen or so people who haven yet heard the glaciers and ice caps are melting - send them an email. I know it's not as dramatic as freezing off one's testicles but it's also less polluting.

At Centamin, we have a zero tolerance for disrespect. We would like to ask that you respect that and delete this post.

As you know, we have reached out on numerous occasions to address your queries. If you have any questions, please email us at investor@centaminplc.com

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

My Reply:

Thank you FiFiz - the disrespect is with Centamin's management for refusing to answer a very simple question that ALL shareholders deserve to have answered - we've asked the same question for YEARS - what IS there to hide?
@TheFCA
@OSC_News
@BlackRock_UK
@vaneck_au
@Schroders_UK

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

The thing is Centamin has reached out on several occasions - with a reply that doesn't answer the question! So what's the sense of them advising me to send my question to an email address YET AGAIN? Total BS. Just address the issue - answer the question and stop pretending that some great offense has been made in a Twitter post that is obviously (and purposefully) cheeky.

I did get one anonymous supporter chime in (and I wish I could personally thank him/her for that support!)

------------------>>>
Don Lawson has tried on numerous occasions to obtain information on the Burkino Faso assets especially as it appears they are to be sold off. - Just provide the information Centamin without making such a fuss. - What's up? - Are you trying to hide something?

https://twitter.com/FiFiz26537743/status/1439962143915393024

If some here got the impression I was talking about green initiatives like environmental footprint stuff I wasn't - I was referring to enterprise value (market cap). But I do like the conversations that have ensued.

Reading the debates I think both sides have valid points to make.

Based on my experience in Canada I don't think anyone argues for a world content with choking itself to death on fossil fuel emissions. But too often the media ignores (and sometimes demonizes) the companies that supply the energy needs of today.

As I watched that BBC video of the endurance swimmer navigating the Greenland iceberg laden waterways to raise awareness of climate change I couldn't help but think - he most likely flew on a jet to get there - not to mention the petrol powered dingy that shuttled him around for the video shoot. The list goes on and on.

Point is in our quest to free the planet of emissions we must do so in a way that acknowledges our individual contributions to emissions. The oil companies would not have any customers to burn their products unless we the consumer kept up the healthy demand by our lifestyle choices.

But getting back to Centamin I am proud of their efforts to replace diesel use with solar. However it did take much too long (four years now going on five) to implement.

Therefore I'd be very impressed if our new CEO would show real leadership and commitment to ESG by outlining a SOLAR EXPANSION plan today - instead of waiting another four years to replace the remaining diesel generators in use.

https://twitter.com/DonLawson_/status/1439627994901872650