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Aton is just penny stocks no production, EDV is with junk of debt (well both with good assets but no dividend either) . Why do I leave a winner with great assets and as I expected double may be triple dividend this year.
I am expecting CEY will surprise all of us soon.
GLTA,
Dan
From .03 CAD to ..065 this week. sounds like they hit the jackpot.
Or may be Sawiris's family just started their collection...
For CEY I am keen that they will hit their target as no news last 2 weeks for any interruptions.
GLTA,
Dan
I thought the same of weird quote as well, but for the last 90 Min is still the bid and ask as high 3.29/3.30, usually after 10 min of any $CAD.10 up or down it return Neutral to LSE price.
I guess that CEY now signed a new contract for a new mining land, new discovery, sales to west Africa, joint venture, or and or. There are tones of excellent opportunity for SEY out there.
GLTA,
Dan
https://www.facebook.com/photo/?fbid=2887313737989670&set=a.1443584175695974
GLTA,
Dan
Sukari gold mine news - The Sugar Mine Pride of Egypt
May 18 at 5:03 PM · Public
May 18, 2020 - 7:33 PM
Ahmed Ismail:
The company aims to produce 540 thousand ounces of gold this year
The General Authority for Mineral Resources, obtained about 87.1 million dollars from Centamin Egypt Company for gold prospecting, profits during 2019, an increase of 14% over the previous year, which was recorded at 76.391 million dollars, according to the company statement yesterday.
According to the data, the authority obtained a royalty in exchange for gold production during the past year with a value of 19.7 million dollars, noting that the total profits and royalties obtained by the authority during the past year amounted to about 107 million dollars.
According to the data, the total profits obtained by the authority from the company from the beginning of production to date swallowed about 500 million dollars, adding that the company's profits after taxes increased by 13% compared to 2018, to reach 173.029 million dollars, and profits increased before Interest, taxes, depreciation and amortization of 10% to $ 284 million.
The company aims to have gold production during the current year between 510 thousand and 540 thousand ounces, at cash costs ranging between 630 and 680 dollars an ounce of production, provided that the price of selling an ounce of gold during the current year between 870 and 920 dollars per ounce sold.
The sugar reserve is estimated to be 15.5 million ounces of gold, which makes it one of the largest gold mines in the world.
The Authority gets 55% of the profits of "Centamin" on its operations in the Al-Sukari mine after the company recovers the investment costs. It also gets 3% royalties, as the company supplies the royalty value to the Mineral Resources Authority twice a year.
CEE
CENTAMIN PLC
Now at $CAD 3.25 Bidding $3.29 asking $3.30 Low volume as usual.
Something could be going on, ?????? Not sure
But 5 analysts according to TD Bank rated as Strongly BUY
Couldn't find any news published for this rise.
GLTA,
Dan
Bank of America raises gold forecast by a whopping $1,000 to $3,000 because of zero rates
https://www.cnbc.com/2020/04/21/bank-of-america-raises-gold-forecast-by-a-whopping-1000-to-3000-because-of-zero-rates.html
GLTA,
Dan
Thanks ElProfessor for the reminding as some of us forgot about it. But I am wondering what the relation between FCA and political financial parties? Are they afraid of soaring gold miners and not to other market? Too much politics in this world controlling us.
Also, It could be as a result of closing the refinery in Canada until 1st week of April (They are open now to my knowledge) https://www.xau.ca
Any opinion!
GLTA,
Dan
https://www.facebook.com/photo.php?fbid=10158122447434144&set=p.10158122447434144&type=1&theater
Youssef Al-Rajhi, General Manager of Centamin Egypt Company, revealed in statements to "Al-Mal" newspaper that the total Egyptian government share in the profits of the Diabetic Gold Project is about 5.8 billion pounds since its formal sharing until now. According to the agreement signed between the government represented by the Mineral Resources Authority and "Centamin" in 1994, the latter funded the stages of implementation and expansion of the project and recovered its expenses entirely from the return on the sale of gold, and then divided the profits by 50% of the Egyptian government since 2016/2017, along with its commitment to pay Taxes and% 3 royalties.
According to Al-Rajhi’s statements, $ 150 million in total royalties has been paid from the Diabetes Project to the state treasury, since its production began, as well as $ 48.2 million in taxes. In terms of the latest developments in production rates within the project, Al-Rajhi said that Centamin produced 125,000 ounces of gold over the first quarter of this year.
The company aims to produce about 540 thousand ounces of gold from the Diabetes Project throughout the current year, and the total production of the project since 2010 until now has reached about 140 tons .. a ton equals about 32 thousand ounces.
Al-Rajhi confirmed the regularity of the process of exporting gold to Canada for purification, sealing and sale in foreign markets, noting that the central bank buys 60 to 70 kg of sugar production per month monthly at a price of approximately 50 million pounds.
It is noteworthy that the gold extracted from the sugar mine is shipped in parcels to Canada for purification by one of the largest purification companies in the world, then stamped and stamped with a "9999" seal, after which it becomes valid for sale on the global gold exchanges.
Al-Rajhi denied that the production of the diabetes project was affected by the Vero Corona crisis, and the precautionary measures that the Egyptian government applied to confront it. He stressed that the company has implemented an integrated preventive program to protect workers inside the project site, without affecting its production or investment program, denying that any infection within the project with the Corona virus has been discovered.
The average reserves of the Diabetes Project in gold are about 15 million ounces, and it employs around 1,000 suppliers and about 50 Egyptian contracting companies to supply the project with its needs to continue production.
GLTA,
Dan
Yes Rebess, same here, I am so scared too.
My understanding is "Law 32/2014 spells the end of PIL in Egypt by limiting the right to challenge the validity of government contracts to the parties and creditors only." that means there is no one other than the parties has the right to challenge his own government... Say what? My guess that can happened only in China or N. Korea I mean communist countries. Law 32 is not a valid statement, in addition, the one he challenged the government run away after his criminal act of bribe case and he still out of Egypt.
The case has no base of any as the contract is validated and supported with the new mining law and all documents was delivered to court.
To this end, if I am really scared I would run and sell all my share. It was a good chance today to do that today but I didn't.
As my understanding that the case is shelved and law 32 is illegal as if the UK government sign a un faithful contract that no one can challenge them? where is the democracy of the country then? Governments are not suppose to act like a mafias.
Also, the case was a completely full of political issues in its all surrounding especially after the revolution, Law 32 was against the Egyptian People, and the Egyptian Congress can't approve it. Also, the case is dead without decision announced as the many Egyptian mentality and the ignorance of the international mining investment and they believe that all gold underground should be going only to Egyptians, like you as an investor spend money to mine the gold to give it to them.
GLTA,
Dan
mrtibbles, its normal to hear a lot of negative comments when someone is in control or/and successful of their business.
I believe Egypt is one of the country that contained the spread of the virus since the beginning and took all the measures to avoid the disaster (they may face the break of the virus but unlikely as per the World Health Organization)
https://www.elbalad.news/4258580
Dr. John Jabbour, representative of the World Health Organization, said that countries with a pandemic cannot hide, but what is happening is a lack of estimation of the number of infections.
John Jabbour added, during television statements, that the majority of injuries in Egypt, estimated at 85%, do not need any kind of medication to cure and self-heal, and this is among the positives that we discovered.
If Egypt is in Disaster, will it help others? Like US refuses to send any medical supply to help Canada while Egypt send To China and Italy and prepare to send also to Germany and Spain.
https://www.egyptindependent.com/videos-egypt-sends-health-minister-to-italy-and-medical-supplies/
https://cdn1.dailynewsegypt.com/2020/04/04/egypts-health-minister-arrives-in-italy-with-medical-supplies/?__cf_chl_jschl_tk__=13e6bb52a32be3b3c14c749321d6783e02246775-1586172376-0-AUyDRKpmPBqkQhqEMJXAqMOmDXDhgOs-us6iTkq17a-Vq9XeoexDWsueYX1iOskg-239MNRo8xN8aq9FVH23cIDEg9dSGRmAov4t8yxCFrgzZDjdXhXhnfuA3YyjAdmEI0w3qv1_l16UcdZgW4nf-UTmW5ep05kBT-VAHzaApgPSd9yeOZddSPdw24ebwEzxP_5MGRHzfHeMxIWAvjwU1vgBTPNVdnB2YiyVP0MVwip0yLnaGl6UKHbBOsp2JUkAaIILG4gaV5DH3PA8ddCnOq-8YjFUiid7wW1vOf1r2yQAsUJzBycYE4wuC2vsZrUGEXimfVIgiZ9uKCGk_GDnHsHokM7LKXlvhywOXsszk66SbykD9WmuoTdBIuK6sIPswQ
http://www.xinhuanet.com/english/2020-03/02/c_138833203.htm
By traveling to China at the beak problem to see how things are working and learn what China as well to succeed that virus.
The Guardian never write any thing on Egypt side, they are always against every step Egyptian government do... They are supported by the terrorist Qatar & Brotherhood since the stupid 2011 Revolution.
and You mentioned "lets not forget about Law 32"..!!!! are you kidding me?
Sounds like you sold and can't buyback lower.... You don't need to mentioned all the negativity and show your bad faith while prices is fluctuates and you may get the price you looking for...
GLTA,
Dan
Also as Centamin is mentioned before they are controlling their business against the virus.
“During these times of global uncertainty, our first priority is securing our corporate borders to protect the health, safety and wellbeing of our employees and communities. As of 24 March 2020, Centamin has no cases of COVID-19 amongst its workforce and has experienced no material disruption to operations, supply chain or gold shipments.
Early action was taken at Sukari, in line with our Severe Communicable Disease Outbreak Management Plan and the advice of governments and health authorities, to cease non-essential travel, adjust and manage on-site rosters, enable employees to work from home where possible, educate the workforce on the virus (symptoms and preventative measures), cease non-essential visitors, establish multiple mandatory checkpoints (Marsa Alam airport, community centre and mine gate) for possible symptoms and travel history screening for all visitors. Measures are in place to ensure all countries in which our people are located follow the advice of local government and health authorities.
A COVID-19 Executive Committee has been established with a clear management and site support framework in place, including daily workforce and supply chain risk reviews. As with many countries globally, Egypt has temporarily closed the national borders to civilian travel until 15 April 2020, but borders remain open to goods and supplies. To date, we have experienced no supply disruptions and have sufficient internationally sourced critical supplies stockpiled for the next quarter. We maintain open dialogue with our key international and domestic suppliers and, as a matter of caution, have assessed alternative potential supply channels. As the pandemic progresses we will continue to monitor the situation closely and will adapt our policies, procedures and controls to minimise potential impacts, within our control, to our business.
Centamin is a strong, resilient business with zero debt and US$348.9 million in cash and liquid assets, as at 31 December 2019. “
GLTA,
Dan
Appointment of CEO
Centamin announces the appointment of Martin Horgan as Chief Executive Officer ("CEO") and Director of the Company, effective 6 April 2020.
Martin is a qualified mining engineer with 25-years' experience in multiple areas of the mining industry. In his career he has shown a strong strategic and operating acumen as well as demonstrating a longstanding commitment to environmental and social responsibility within mining, which is central to Centamin's decision-making and corporate strategy
Martin Horgan, CEO commented on his appointment: "I am excited to be given the opportunity to lead Centamin at this important stage in its development. The Sukari mine is a world class operation that will continue to underpin the future prospects of the Company, while at the same time pursuing the development of the growth options, as we seek to build a multi-asset gold producer. I am very much looking forward to working with the management team and the Board to deliver the full potential of the Company for all our shareholders, stakeholders and partners."
IMHO, this guy coming to increase the productivity of Centamin, inside Egypt and west Africa, with the new investments available to centamin.
GLTA,
Dan