Member Info for Cowichan

An interesting comparison of mining CEO's

Lots of hype and self-adulation for sure...

https://www.kitco.com/news/2019-12-24/Who-is-the-top-mining-CEO-of-2019-VOTE-NOW.html

El Sisi signals that military companies on the EGX more than just an idea: Military-owned companies and assets will be listed on the EGX, President Abdel Fattah El Sisi said yesterday, bringing up the idea for the second time in less than two months. Military-owned companies going public would ensure the participation of all sectors of the economy, El Sisi said while speaking at the inauguration of a project to set up a livestock farm in Fayoum. The president said many investments by military-owned companies, including large infrastructure developments, are already open to private sector participation.

Background: The prospect of selling shares in military-owned companies was first brought up by the president in November. El Sisi stressed at the time that the army doesn’t undertake projects at the expense of the private sector and noted that the military and civilian businesses are actively working together on a series of strategic initiatives.

https://almalnews.com/%D8%A8%D9%83%D8%B1%D9%8A-%D8%A7%D9%84%D8%B1%D8%A6%D9%8A%D8%B3-%D8%A3%D9%83%D8%AF-%D8%B5%D8%B9%D9%88%D8%A8%D8%A9-%D8%A5%D8%AC%D8%B1%D8%A7%D8%A1-3-%D8%A7%D9%86%D8%AA%D8%AE%D8%A7%D8%A8%D8%A7%D8%AA/

from page 47 of The Code

2. The holders of the securities of an offeree company must have
sufficient time and information to enable them to reach a properly
informed decision on the bid; where it advises the holders of securities,
the board of the offeree company must give its views on the effects of
implementation of the bid on employment, conditions of employment
and the locations of the company’s places of business.

3. The board of an offeree company must act in the interests of the
company as a whole and must not deny the holders of securities the
opportunity to decide on the merits of the bid.

http://www.thetakeoverpanel.org.uk/wp-content/uploads/2008/11/code.pdf?v=7Nov2019

I did. Here is the contact email and what I wrote. Make sure to include your address & name

Email: supportgroup@thetakeoverpanel.org.uk
-------------------------------------------->>

Is it permissible that Endeavour Mining can pursue a merger with UK listed Centamin Plc while its own CEO Mr. Sébastien Montessus is undergoing a judicial investigation for bribery & fraud in France?

Surely there are rules against mergers while a key director is the subject of an international criminal probe? 

More information available here:
https://thismon.ee/a/7767529

Thank you for your attention
(Your Name Here)

Lots & lots of rock-hounding has occurred over the last ten years in Egypt - all around Sukari - the findings have contributed to Centamin's decision to use 3D seismic surveys to search for Sukari size deposits which may not be detectable from surface outcroppings. Details as to these latest findings would most certainly be available to those-in-the-know beyond the technical crews operating the seismic equipment.

Who is to say Endeavour does not already have access to the latest results and are acting before the news is made public ie to shareholders.

The following is a recent report (not associated with the 3D survey!) but interesting all the same
---------------------------------->>

June 2019
Orogenic gold in the Egyptian Eastern Desert: Widespread gold mineralization in the late stages of Neoproterozoic orogeny

Today, Sukari is the single major producing mine in the Eastern Desert but many other significant gold occurrences are being actively explored...

Orogenic gold occurrences are the focus of this paper (identi?ed assuch in Appendix 1) but the ANS also contains gold-bearing volcanicmassive sul?de (VMS) occurrences, as at Jabal Sayid in the ArabianShield (Fig. 1), and gold-rich supergene oxide zones above gold-bearing primary massive to semi-massive sul?des (both listed asVMS-gold in Appendix 1). Gold-bearing VMS occurrences are recog-nized in the Eastern Desert at Hamama (total inferred resources 8.2Mt at 0.87 g/t Au; Bampton, 2017) and at Um Samiuki (Figs. 1, 2)...

The Hangaliya gold deposit, 25 km southwest of Sukari, comprisesmilky quartz veins along one of the NW-trending shears of the Nugrusshear zone, where it intersects the Gabal Nugrus monzogranite pluton.Gold-bearing quartz veins are boudinaged along the shear zone...

However, classifying the Sukari and Atud occurrences as “intru-sion-related”implies ?uids and metals are derived from the host intru-sion and making this classi?cation requires careful consideration ofstructural, geochemical, isotopic, and paragenetic information and thespatial relationship with intrusive centers. If Sukari is an intrusion-related deposit, then the possibility that gold may be associated withspeci?c igneous rock type elsewhere in the Eastern Desert wouldchange exploration strategies and targets across the region...

Sukari has a conspicuousstructural control that is consistent with it being classi?ed as an oro-genic gold deposit. At the Atalla occurrence, where gold-bearing quartzveins are chie?y found inthe Atalla monzogranite intrusion, Zoheir et al.(2017) comment that the intrusion likely acted merely as a competentstructural host for ore deposition, not as a source of gold. For these rea-sons, pending further research into the origins of these occurrences...

https://www.researchgate.net/publication/333876406_Orogenic_gold_in_the_Egyptian_Eastern_Desert_Widespread_gold_mineralization_in_the_late_stages_of_Neoproterozoic_orogeny

Good work T21A.
I agree with you completely!

Thanks for your reply Mizolgit!

My latest tweet for those who wish to retweet on Twitter.

------------------------>>
Imagine @EndeavourMining approaching @CentaminPlc while its CEO Montessus is under investigation for bribery & fraud?

What type of advisory firm would green light deal-making while a company director is the subject of a criminal probe? @BrunswickGroup @NumisSecurities @IIROCinfo

---------------------->>
and the link
https://twitter.com/donaldplawson/status/1209174883512520704

I hope my fellow long term investors will take some time over the holidays to contact Centamin if you have not already done so.

We are all very adept at complaining on this chat board which gives us plenty of practice to apply the same effort to other channels.

We will all have several opportunities to engage in news releases via Twitter over the next two weeks. I know from personal experience the effect we can have when we stir up scrutiny via the proper channels:

@KitcoNewsNOW
@OSC_News
@IIROCinfo
@CapitalDrilling
@EgyptTodayMag
@DailyNewsEgypt
@UKinEgypt
@GeoffreyDAdams
These are but some of the avenues we can use to make our voices/concerns heard via Twitter. If you don't feel creative enough on your own why not sign up for a twitter account and simply retweet some of the concerns I've already expressed.

It costs not a dime and it could just save our company from an underhanded, manipulative and possible corrupt takeover.

Here's a good start. https://twitter.com/donaldplawson/status/1208503357343772678

Wishing you all the best at Christmas!

https://twitter.com/donaldplawson/status/1208127633852108800

There are plenty other ways to stir up regulatory scrutiny although Twitter is one of the most quick and effective.

tweet... please repost

https://twitter.com/donaldplawson/status/1208089280247189504

Thanks Tibbs - I'll keep you informed.
For now I am able to tag Mr Sawiris on twitter regarding Endeavour's CEO shenanigans etc. - he's unable to block that - it just won't appear in his personal twitter feed anymore...

Another piece of this puzzle - Centamin has been rock-hounding for years in Egypt. (It doesn't take an exploration permit to do so) So they have a giant leg up on any new comers hoping to explore once the executive regulations are approved.

Centamin therefore already know some of the most prospective concessions outside of Sukari and that is very valuable information by itself - certainly worth a limp-wristed takeover attempt just to have access to that data.

Happily this won't happen.

Also Tibbs & Siko, I was just 'blocked' by our good friend Mr Sawiris. Guess he doesn't like my tweets anymore.

Please retweet if you agree. The more scrutiny & exposure the matter receives from all parties the better.

https://twitter.com/CityAM/status/1207324780673679360

Contact everyone you can involved and tell them your concerns.
For example these guys are Centamin's corporate advisers:
External Auditors and Reporting Accountants
PricewaterhouseCoopers LLP
1 Embankment Place
London WC2N 6RH
United Kingdom
+44 (0)20 7583 5000
Email them:
https://www.pwc.co.uk/global/forms/contactUs
Tweet them:
@PwC_UK
Do it now or forever hold your peace...
More advisers can be found here:
https://www.centamin.com/investors/shareholder-services/advisors

Northern Star Resources has entered into a binding sale agreement with Newmont Goldcorp
Australia to acquire all the shares in Kalgoorlie for a total consideration of US$800 million

http://www.nsrltd.com/wp-content/uploads/2019/12/Northern-Star-to-Acquire-50-per-cent-of-KCGM-Super-Pit-17-12-2019.pdf

"If they were not employing the Canadian shorters to pull the price down I am sure we would be 10 to 20p higher."

To say that the trades in Canada are holding back London price realization is an error or worse. Please do not add fear-mongering to what is an already tense situation for long term holders.

As I've pointed out before the volumes in Toronto are so low as to be incapable of affecting the oversea market. To say otherwise is categorically untrue.

I encourage shareholders to have a look at the volumes in Toronto which speak for themselves

https://web.tmxmoney.com/quote.php?qm_symbol=CEE

Please use the sharing tools found via the share button at the top or side of articles. Copying articles to share with others is a breach of FT.com T&Cs and Copyright Policy. Email licensing@ft.com to buy additional rights. Subscribers may share up to 10 or 20 articles per month using the gift article service. More information can be found at https://www.ft.com/tour.
https://www.ft.com/content/e2c4a996-62e0-4315-b972-4929fc30515d

Endeavour will need to dig deep. If it offers more shares, its own shareholders would lose majority control of the combined business. With negative free cash flow and net debt of over $600m, it lacks the funds to sweeten a deal with cash. Its offer is an opportunistic attempt to gain a London listing.

https://www.ft.com/content/e2c4a996-62e0-4315-b972-4929fc30515d

VANCOUVER, Dec. 16, 2019 /PRNewswire/ - Equinox Gold Corp. (TSX: EQX, NYSE American: EQX) ("Equinox Gold") and Leagold Mining Corporation (TSX: LMC,OTCQX: LMCNF) ("Leagold") have entered into a definitive agreement (the "Arrangement Agreement") to combine in an at-market merger (the "Transaction"), creating one of the world's top gold producing companies operating entirely in the Americas. The combined entity will continue as Equinox Gold and be headquartered in Vancouver, Canada.

- Pro forma market capitalization of $1.3 billion providing scale, liquidity and re-rate potential
Board of Directors, led by Ross Beaty as Chairman, will have eight members with four from each company

- Experienced, integrated management team led by Neil Woodyer as CEO, Christian Milau as EVP Corporate, Attie Roux as COO and Peter Hardie as CFO

https://www.prnewswire.com/news-releases/equinox-gold-and-leagold-mining-combine-to-create-a-premier-americas-gold-producer-300975112.html

will not happen.

And don't imagine that Mr Sawiris has magical powers over Egyptian bureaucracy or Centamin's board.

Remember the mining laws have been changed to bring broad based investment into Egypt - that includes Chinese SOEs - which will likely be our main source of competition for assets in the Nubian Shield going forward.

Endeavour is simply the Nightmare Before Christmas but it will be over soon...

Let's all remember that a business transaction like Endeavor is attempting involves a great deal of persuasion.

Mark Bristow said the Barrick deal took three years to hammer out. Who knows how many meetings and conversations took place during that time with him personally but once you have the CEO on side it becomes a matter of getting the board interested.

So far we've assumed Mr Pardey was 'retired' because of poor performance but we really have no idea. If his retirement has more to do with a favorability towards Endeavor then one could make an argument that the board is cleaning house - ensuring any new CEO follows the direction of the board.

I'm of the mind that since the board has been growing — with younger appointees and a healthy dose of women representation they are not interested in falling prey to a value destroying merger. Good news for us.