The latest Investing Matters Podcast episode featuring Jeremy Skillington, CEO of Poolbeg Pharma has just been released. Listen here.
The price action looks similar to what happened on Tullow last week: a massive opening gap and a spike that was sold into. Let's face it, if you are trader and presented with a 50% gain for a one day hold, would you not take the money and run? The price then returned to the original pre-RNS price and has solidified and increased from there. What yesterday tells me is the direction of travel for the company but in the short term, the SP will be traded. If it does go back to near £4, I will buy some more for the long term.
It almost got there but I think 100 day resistance is around 5.50.
I resisted the temptation to buy more. I have been caught out on spikes before and I don't like large gaps on charts.
But with directors promising to buy more and US listing to come, I am happy to hold.
and now offered 493. wow.
Haha. me too. can't get a quote! Gutted I didn't top up at 320 last week when I was thinking about it
The market often does the opposite of what I am expecting but this sounds like a company in excellent health and primed for greater growth. I am already in for a wad at just under £8. I think I will be seeing that number again sooner rather than later now.
27p seemed to be the ceiling on the last rise and it was defended strongly. The 35p open auction gives me belief that it will break this time.
It’s amazing really to think that the SP is only back to where it was before the big plunge. But what we have now is some solid production news. Perhaps before it was trading on hope. Now it is trading on belief. The numbers have given the market confidence. If I’m not wrong the highest close in the last year is about 1.53 and the highest intraday was 1.61. The share price was overbought then but barring any shocks, it looks like there is still room for this to push higher. Whilst I’m livid I got shaken out of my trading slice, I’m delighted my core holding is well up and I hope it’s not premature to dream of the flip flop club again. Also delighted the endeavour deal was politely declined. Best wishes everyone.
You successfully spooked me and I sold a slice at 137.5 ??
Indeed, squeaky bum time at the moment. Could gold get sold off to cover oil positions, thereby taking etfs and corresponding shares with it?
To be more upbeat though, 11.00-11.30 am seems to be the quietest time of the day and at least the opening gap from this morning is no longer a concern. Gold seems to be holding 1675 as it did yesterday. Fingers crossed...
I have a good feeling about today :-)
More Oz mined, at higher selling price but at steady production cost with a little bit of caution for H2. All sounds good to me. Seems to be quite a high reliance on the open pit though.
Regarding the change in dividend policy, I wonder if that will allow a 'special' later in the year?
damn it. my discipline lasted 30 minutes. i have bought some more. GL
I did the same on Thursday... got my timing slightly wrong but i don't think I will be too upset in a few days time (here's hoping). After reading the 'news' about the Q1 numbers, I was sorely tempted to raid the piggy bank for even more first thing but I am trying to be disciplined. Something I am wondering about is how these numbers can be leaked ahead of the official publication. Surely that is market sensitive news, if it turns out to be true... how can they do that?
I did similar on the last big plunge. Sold a few thousand at 1.15 and bought them back at 1.00 (in the same day). Was well chuffed with myself for making a few hundred. If you can't beat 'em, join 'em was my thinking! Tried it again at 1.22 and then the price went up... not to fussed as I still hold a fair chunk except I then stupidly bought some Tullow hoping for a quick 10% and down a packet on them. Lesson, stick to what you know!
Anyway, you might get an opportunity to buy today the way it fs going...
I would guess at a few factors. On 6th March, the share price touched 148 before it began its plunge with the wider market. It also touched 148 yesterday so perhaps some nervousness/profit taking in case the market plunges again? (to retest previous lows?) There was also a gap up yesterday which has now been closed. As long as we stay above 1.30, and gold price holds up, I think that should be healthy.
I agree. I hope the new CEO proves to be a bit more inspiring when it comes to growth opportunities than the previous one. Whilst the dividend is attractive, I would actually be prepared to accept a lower payout in return for building up a war chest to take advantage of growth opportunities elsewhere whether they be organic or acquired. I can't help but feel that in the current climate, Centamin is held back by being a single asset producer. I also hold Fresnillo for the diversity but I feel there is a cloud hanging over them because of potential mine shutdowns in Mexico. Centamin have said they are unaffected at the moment but what if the worst case happened and Egypt went into lockdown? I once had all my eggs in this basket (and I make sure I watch them like a hawk)
Gold 1650, CEY high 1.34 now 1.27, someone is extracting the urine
Am I right in thinking we still have no revised date for the full 2019 results? And what about Q1 numbers? I am assuming those will have been delayed although I don't recall seeing anything about it.
With gold at $1630+ and the share price struggling to break 1.30, and indeed already drifting again, I fear it will slowly fade again until we get some solid news as it seems the market is more interested in bombed out oilers right now.
My fear is that we are in the middle of a big bear rally and when the next leg down comes, it will take everything with it again.
Good morning everyone
I hope you are all safe and well. I just wanted to say hello and thank you to all the fantastic information, people, advice and chat that this forum provides. I have been a Centamin holder since 2011 and have been following this board since then but today I finally registered.
I hope I can make some contributions in the future.
Best