Member Info for Cowichan

Hi Alex,

Thank you for giving me the opportunity to speak with Mr Horgan. A number of us long term Centamin investors who keep in touch regularly can see the positive difference Mr Horgan has brought to the company and we do hope it continues. Respectfully I will forgo the telephone hookup as I know Mr Horgan has better uses for his time. That said, the main concern I still hope to have addressed - not just for myself but for every long term shareholder - is in regards to the divestment of the Burkina Faso assets. I understand the message to shareholders has been Batie West does not currently meet the criteria for development by Centamin however that determination leaves many unanswered questions. I will list several:

1) The original plan as outlined by Centamin's board since purchasing the Burkina Faso assets from Ampella was to develop a corridor that stretched from considerably north of the Batie West/Konkera deposit southward into Cote D'Ivoire - encompassing Doropo and beyond. Since Doropo is a continuation of this corridor it has yet to be articulated how divesting Batie West and the surrounding concessions fits into the larger and longer term vision. Indeed, divesting a central component of this corridor which has been extensively explored seems illogical to put it mildly.

2) Endeavour mining has been 'keen' to acquire the Batie West deposit and surrounding concessions to the point of shall we say 'corporate intrigue' The CEO of Endeavour Mr Montessus has a history of opportunistic acquisitions and perhaps a neglect for following laws

3) Hundreds of thousands of meters of drilling have been collected and catalogued on the concessions outside of the Batie West deposit. These include the Napelepera & Wadaradoo deposits which shareholders have been waiting years to see a maiden resource published. That has never happened. It would be a derelict of disclosure obligations for the Burkina Faso assets to be divested without first apprising shareholders and the market of the real resource the collective Burkina Faso concessions contain.

Providing answers to these longstanding questions is in the best interest of all parties - shareholders and management alike. I hope Mr Martin can answer them before any decision is made to divest.

Respectfully,

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I am posting this in hopes other investors will also message Centamin investor relations before Batie West ends up in the hands of Endeavour. Getting a satisfactory response from Mr Horgan will be my litmus test of our new CEO . Of course it could be, as others have suggested, a conspiracy on the part of our BODs - some persons in the pocket of Endeavour getting paid off to keep a maiden resource buried. Either way their are journalists and market regulators now involved. I hope it doesn't end badly for Mr Horgan who inherited this mess.

'What I've been looking for is the source of some unbelievably rich high-grade
electrum - an alloy that contains about two ounces of silver to one ounce of gold-and which assays, as I've said, fourteen thousand dollars a ton...'

'That's rich ore even though it is under a glacier on the top of a mountain in a remote district...'

Summary: A couple of prospectors remove mountains of ice (with steam!) to follow a gold vein at the bottom of an active glacier. Their story continues here...

https://blackwolfcopperandgold.com/site/assets/files/5759/glacier_gold_the_alaskan_sportman_august_1937.pdf

Thanks for the clarification regarding Endeavour Mining Goldmcgoldface

How many accounts do you have on these chat boards? At least two more I bet to get those two likes... Cheers

You're right MrBond - I'm happy to be invested with Centamin vs Endeavour for the divi and growth opportunities. Sawiris and Montessus are a perfect match - I'll leave them to it

https://twitter.com/DonLawson_/status/1422993254350458880

Hey CEO Montessus --> your H1 presentation chart comparing shareholder returns conveniently neglects the #gold miner with the highest dividend returns - namely
@CentaminPlc !

Simple oversight ?

@MiningAnalysts
@BNNBloomberg
@tsx_tsxv
@LSEplc
@JrMiningNetwork
@KitcoNewsNOW

Question for $CEY - why hasn't management disclosed a maiden resource for all the drilling outside of Batie West - namely Napelepera & Wadaradoo deposits in #Burkina?

Is the plan to divest below it's real value to @EndeavourMining ?

https://twitter.com/DonLawson_/status/1422610105007329282

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Join us on Thursday (5 Aug) @ 09.30 BST (UK) for our H1 webcast presentation, when our CEO #MartinHorgan and CFO #RossJerrard will discuss our results.

Webcast: https://loom.ly/jD3FS3w

Dial-in:
UK (and other locations): +44 203 936 2999
Participation code: 835947
#CEY $CEY

https://twitter.com/CentaminPlc/status/1422497635785527296

“We are delighted to welcome Mark to the Altus team, reflecting our commitment to establish a significant gold exploration and development business in Egypt. Mark is based in Cairo and has unparalleled expertise, spanning three decades of operating in the natural resource sector in Egypt. He is the retired former President & CEO of Aton Resources and has previously been a consultant to Pharaoh Gold Mines, a subsidiary of Centamin.

https://www.miningreview.com/gold/altus-strategies-appoints-new-chairman-and-director-for-akh-gold/

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My Thoughts: If you can't beat em, join em...

Hi Rebess,

Waxing philosophical on a Sunday are we?
Your question is far too big for any of us to answer, I think. Perhaps a poem on the subject of life being unfair, the things that are more important than money, etc....

I'll leave it to Tennyson & Keats to answer!

IMO the US/UK currently lacks the political apparatus to make sound financial decisions

That said I don't think China has any appetite for buying vast quantities of gold at $1800 an ounce either

Personally I'm not expecting gold to fly - which is fine - retail demand would suffer at $2000 plus

Miners can make a decent profit at this range

The issue going forward is dwindling reserves - Egypt and West Africa are the place(s) to be so I am very hopeful that Centamin LTH's will do well - Cheers!

(apologies in advance to redsparrow and other theologians for my layman's reply ;-)

...an agreement was signed with Al-Sukari Gold Mining Company in February 2021 regarding the manufacturing process for mining equipment

...manufacturing in record time within 12 days for the first dump out of a total of 45 dumpers that will be manufactured successively

...the provision of technically qualified labor to serve the mining field in Egypt, in addition to the establishment of the first production line for the manufacture of mobile heavy mining equipment to serve gold mines.

Fadi Selim, a member of the board of directors of Aresco, a manufacturer of heavy mining equipment in Egypt, said that the Sukari company's initiative to manufacture heavy mining equipment in Egypt instead of importing it is one of the national initiatives that the state has always advocated with the support of President Abdel Fattah El-Sisi to reduce imports and settle modern technology and industrialization.

https://twitter.com/PeterHanna1/status/1421047425645649921

https://www.dostor.org/3524896

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My Thoughts: I wonder if Sukari expansion plans are already in the works between the EMRA and Centamin

Why not listen to US Congressmen speak about the Digital Era - the hearing is humorously named

“Cryptocurrencies: What are they good for?”

https://www.banking.senate.gov/hearings/cryptocurrencies-what-are-they-good-for

note: skip to 15 minutes in

Summary: congressmen have been spurred to act/speak out on behalf of the Big Banks monopoly - follow the money!

Our #strategy is clear and consistent: maximise long-term FCF generation, maintain an active growth pipeline and deliver sustainable returns for our stakeholders. This is achieved through our 5 Strategic Pillars. Read about each pillar here: https://loom.ly/Zg-vzms

https://twitter.com/CentaminPlc/status/1420044038170980353

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And some random, overly-concerned investors reply:

Pillar 5 "...good governance, ethical conduct & transparency"

transparency = disclosure

CEO Horgan - disclose Batie West's true resource incl 600k m drilled at Napelepera & Wadaradoo b4 divesting to @EndeavourMining for less than it's worth

@BlackRock_UK @Buchanan_PR @mining

https://twitter.com/DonLawson_/status/1420054558428987392

Note: rumor is this random guy is still waiting for a response from Alex @ Centamin's IR dept for the last few months... he has learned not to expect one, though

A look at [sixteen] equity returns of mine developers in the 2 year period to commercial production and 1 year post production. 13 of 16 developers gained on average 77% to production and 11 of 16 held those gains for an average of 93%.

Buying the right developers works. $ORE; $MOZ; $RIO; $LGD, $OSK and $ITR

https://twitter.com/RonaldS_AuCu/status/1416133573392863237

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

Note: a chart of all sixteen companies included on Twitter link

https://twitter.com/NeilRingdahl/status/1419149185773879296

La Mancha Holdings, owned by Egyptian billionaire Naguib Sawiris, has unveiled a $1.4 billion fund to hold the magnate’s gold mining investments and pursue new opportunities in the sector.

It noted that the first closing had already been completed with the receipt of all of La Mancha’s gold mining assets, which include a 19.1% stake in Endeavour Mining (TSX, LON: EDV), 33.4% in Golden Star (NYSE, TSX: GSS), and a 35.1% interest in Altus Strategies (AIM: ALS) (TSX-V: ALTS).

“Creating a fund is the natural consequence of what we have been doing since we vended-in our operational assets into Evolution and Endeavour in 2015,” Naguib Sawiris, Chairman of La Mancha’s board, said in the statement.

“Transitioning to a fund structure and welcoming new investors is timely when we are seeing opportunities in a gold mining sector which is fragmented and needs further consolidation,” he said.

La Mancha Capital Advisory LLP (LMCA) will advise the new fund, after consulting an advisory committee made up of mining professionals and chaired by Sawiris.

https://www.mining.com/la-mancha-launches-1-4-billion-gold-mining-fund/

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My Thoughts: "welcoming new investors" is the key takeaway for me

While I totally agree with Mr Horgan's reasoning regarding why Batie West might not be the preferred asset to develop first (he cited Burkina Faso country risk) I implore my fellow shareholders to raise the issue of proper disclosure with Centamin Investor Relations a.s.a.p.

By the way Mr Horgan is speaking it does sound like negotiations could have already begun with Endeavour (or someone) for the divestiture of Batie West - this should NOT proceed until the full resource(s) surrounding Batie West have been disclosed.

Think about it - whoever buys Batie West will have Centamin as a neighbor immediately to the south as the Napelapara deposit runs right across the border into the Doropo resource in Cote D'Ivoire.

What kind of future planning is this? Perhaps selling the project to another miner who could raise capital themselves and take on the country risk is the 'zero risk' route but that is no way to protect the greater resource corridor we've already spent a decade trying to secure.

And that does not address the fact that NO maiden resource has been disclosed outside of the original Batie West concession despite years of drilling and tens of millions in spending.

Have your say before it's too late. email or call
+44 1534 828 700
governance@centaminplc.com
alexandra.carse@centamin.je

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look at the tweet & like/retweet as you see fit

https://twitter.com/DonLawson_/status/1418698287658401793

.@LSEplc & @tsx_tsxv listed miner Centamin needs to disclose its true #gold resources in Burkina Faso including 600k meters drilling in Napelepera & Wadaradoo before divesting Batie West.

CEO Horgan — where's the maiden resource?
@BloombergTV
@adsteel
@GuyJohnsonTV
@VonnieQuinn

There has been a change of messaging:

"Separate discussions would be held with the government in the event Centamin discovered economically accessible gold at a satellite site of Sukari, said Horgan."

Previously management had said the old agreement would remain (a 50/50 profit share) on the entire presently held 160km2 concession.

Obviously there are already a number of known satellite deposits ready to exploit all around Sukari — so very good news. The anticipation of a 'new deal' has probably been the main factor in delaying the development of these satellites thus far.

https://africanminingmarket.com/centamin-to-begin-gold-exploration-in-egypt-after-government-talks/10761/

Exactly. Perhaps geologists don't make the best business managers?

https://www.egypttoday.com/Article/3/105991/Egypt-s-profits-from-Sokary-Gold-Mine-over-past-decade

Egypt's profits from Sokary Gold Mine over past decade are $550M

CAIRO – 13 July 2021: General Manager of Centamin Egypt Youssef al-Raghy told Al Mal newspaper Tuesday that the Egyptian government's profits from Sokary Gold Mine have recorded $550 million since 2010.

The 1994 deal between the Australian company and the Mineral Wealth Authority provides that the former finances the project paying the latter 55 percent of the profits and 3 percent of revenues as royalty fees.

Currently, the company is working towards the target of producing 400,000 and 430,000 gold bars by the end of 2021. The size of production achieved last year is 452,000 gold bars.

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My Thoughts:
1) How many ways are there to spell Sukari?
2) How long will the newspapers continue to report Centamin as an Australian company?
3) Why don't we just turn up the machine that produces 'gold bars' this year!