Tiger, I am not sure about having Centamin a new license matching same as the terms of CEY. That means double standard in mining law.
If Centamin won a new license will be according to the new law as other miners of new winning licenses. Also to renew existing license to be under the new law, that makes since and one nature to all mining license to avoid any double standard.
News: Engineer Tariq Al-Mulla, Minister of Petroleum and Mineral Resources, held a meeting with Glenn Miles, the Australian Ambassador to Egypt, through video conference technology, during which the conditions of the global gas market, price levels and changes that occur to them were reviewed in light of the challenges imposed by the Coronavirus pandemic and its negative effects on global energy markets, as well as The meeting discussed the mining activity in Egypt and the latest developments in the activities of the Eastern Mediterranean Gas Forum. During the meeting, Al-Mulla confirmed that there are several international companies that have submitted bids to participate in the global auction of gold that Egypt has recently put forward, and that these bids are currently being evaluated in preparation for the official announcement of the outcome of the auction during the coming period.
The Australian ambassador invited the Minister of Petroleum and Mineral Resources to attend the International Mining Conference in Australia, which will be held this year through video conference technology, with the participation of more than 250 international mining companies. https://www.elbalad.news/4577295
If the 100 years mentioned is right; that means no one can apply. It must be an error printing.
Even was founded 1927 and doesn't have 50 year yet.
Barrick Gold Corporation evolved from a privately held North American oil and gas company, Barrick Resources. After suffering financial losses in oil and gas, founder Peter Munk (1927–2018) decided to refocus the company on gold. Barrick Resources Corporation became a publicly traded company on May 2, 1983, listing on the Toronto Stock Exchange.
you may know that already Filing Date Transaction Date Insider Name Ownership Type Securities Nature of transaction Volume or Value Price Oct 7/20 Oct 5/20 Rutherford, James Edmund Direct Ownership Ordinary Shares 10 - Acquisition in the public market 100,000 $1.52 GBP Oct 7/20 Oct 5/20 Jerrard, Ross Direct Ownership Ordinary Shares 10 - Acquisition in the public market 15,000 $1.48 GBP Sep 2/20 Sep 1/20 El-Raghy, Youssef Abbas Direct Ownership Ordinary Shares 10 - Disposition in the public market -200,000 $2.12 GBP Aug 5/20 Aug 5/20 Brown, Heidi Anne Direct Ownership Ordinary Shares 10 - Disposition in the public market -26,500 $2.25 GBP Jun 16/20 Jun 9/20 El-Raghy, Youssef Abbas Direct Ownership Ordinary Shares 30 - Acquisition under a purchase/ownership plan 60,000 Jun 16/20 Jun 9/20 El-Raghy, Youssef Abbas Direct Ownership Conditional Award 56 - Grant of rights 110,000 Jun 16/20 Jun 9/20 Jerrard, Ross Direct Ownership Conditional Award 56 - Grant of rights 390,000 Jun 25/20 Jun 5/20 Horgan, Martin Direct Ownership Conditional Award 56 - Grant of rights 590,000
Hi all, is it only me because I am connecting from Canada or same everyone. Site is up and once trading starts it goes down. I am sorry for most of us experiencing the bad time but I think I got use of the situation and never learn. I am sure with evaluating the current market manipulated activities they will turn opposite later on, as they shake the market down (don't forget that there is time for stimulus, unemployment, G. debts, Pandemic unfortunately won't be over for at least 6 month.) as a preparation for the outcome. I wish all a good luck, health and peace.
MrBond, I agree with you. No matter who wins the gold will go up any way regardless. The world economy is in a deep trouble , the Pandemic is getting worth and stimulus will be on the way until things getting better (as I hope so) before any civil wars in every country.
So, I suggest we relax, wait and see what politics comes out of it. Pray for our Health and peace and hope for the best.
RE: CEY - Sale of shares over reaction IMHO21 Oct 2020 13:57
I believe that they are balancing the production with the gold prices to keep maintain the cash flow as they expected that gold will shoot to a higher price no matter who wins the election in US as the economy allover the world is tumbling and the only scape is with gold...
Centamin Down 20% In UK Trade as Reports Higher Third-Quarter Gold Production, Sales Year Over Year 2020-10-21 07:30:56 AM ET (MT Newswires)
07:30 AM EDT, 10/21/2020 (MT Newswires) -- Centamin PLC (CEE.TO) at last look plummeted 20.2% in U.K. trade after reporting Wednesday third-quarter (gold production of 128,240 ounces, a 31% increase from 98,045 oz in the year-ago quarter.)
(Gold sales in the third quarter also rose 9% to 118,617 oz from 108,826 oz last year.)
Revenue generated for the quarter amounted to US$230 million. Adjusted group free cash flow came in at US$36 million, after US$39 million of capital expenditure. Free cash flow expectations for the fourth quarter are expected to be mostly neutral, resulting in a full-year free cash flow forecast of US$135 million to US$145 million. The company has confirmed its 2020 guidance of 445,000 to 455,000 oz of gold produced. For 2021, production is forecast at 400,000 to 430,000 oz due to the rescheduling of open pit operations.
So we don't shoot the management, but obviously still don't trust them and I will never do from now on.
RE: DASUT --> You Asked About Who Else Was To Bid30 Sep 2020 02:59
I found this but then came COVID-19, and you may seen it before; https://see.news/top-gold-mining-co-to-enter-egyptian-market/ It is noteworthy that Newmont is one of the top gold mining companies with the largest proven gold reserves in the world and is one of the biggest companies operating mines worldwide.