Member Info for DASUT

Tibbs welcome back I am not surprised that KD is somewhat vague and guarded with his views on Doropo as the update in November did sort of let us know that things are sort of looking good because the process is less sort of complicated. Guess we will all need to wait until the vague report becomes a real PFS/bankable document.
What I do however find interesting is that progress seems to be advanced in evaluating the contractors bids. So there must be more detail on the initial phases to give the contractors a mine plan to work with.

Sotolo if the wall had collapsed then I could understand the SP collapse to provide the need to recover but the wall didn't collapse.
Guess the real reason for the SP collapse was the cost involved in recovery and the massive waste removal contract.
Can we get back to the £2 level , I do hope so?

Love it a facility for the future a more than adequate war chest.
Banks don't like risk so good news that a strong multiple finance syndicate believes in the business plan that will have been presented.
Behind the scenes I am sure the banks will also have offset risk with credit agencies so additional credibility.
Now all we need is a good year end report above mid forecast production.

I would like to add my best wishes to all on this site and I also miss Tibbs contributions so hopefully he is OK.
Mr Horgan if you are reading it would be great to hear some excellent less boring news in your year end statement.
Happy Christmas and a prosperous, safe 2023 to all.

Production of 3 million ounces a year "Dream on".

email A while back when the SP hit the £2 mark Centamin announced that there was an unstable mine face that could if not rectified cause a slip which is obviously a safety issue and could result in thousands of tonnes of material slipping into the pit. This resulted in the mine not being able to extract the higher 2 grammes a tonne ore and having to mine low grade ores because at that time they were limited by the number of open faces. Hence a crashing of the SP and to alleviate the issue in the future a major waste removal exercise to provide flexibility and the ability to mine numerous faces. So as you can see a great deal of investors got burned and many of us are still waiting for the confidence to return.
So the earth moved and the SP fell dramatically and the costs went through the roof because of the waste removal exercise.

email, to "Soar" unfortunately will be more than one event. A gold price climbing through 1900 would help. End of the costly wate contract. Positive year end report with annual ounces closer to high end than mid range forecast and AISC lower than forecast. Under pinned by positive geology/exploration results from all resources extending the life of mine. Positive finding in favour of Centamin in court case, 500,000 + ounces forecast for 2023 followed up by an excellent 1st quarter. All important is to regain confidence in the market because a lot of people got burned when the "earth moved".

Spoonington,
Like you I am frustrated that I don't have more facts and like you I understand strip ratios and waste to dump and ore to the processing area. Problem appears to be the open pit has been concentrated on a small area of the resource and now needs to be expanded to get to ore at depth which is to my mind, like opening up a new mine that doesn't have any free dig.
Initially they had to flatten a hill and from what I can see the hill determined the circumference of the pit following the structure rather than substantially expanding once hill was flattened.
I know this is a very basic description but I have been asked in the past to keep things simple.
The sooner the waste is moved the better for us all, because we will then hopefully start to understand what is going on from the context of a mine.

Cowichan
I am not sure I understand why the incoming team would need to give Capital a sweetheart deal and OK Capital CEO is Peter Stokes ex Barminco ex mining contractor underground at Sukari. Jamie Boynton is still with Capital as Chairman, not sure how this relates to the award of the open pit waste contract.
What work was done prior to award of the waste removal and was it tendered a question that needs to be asked at the next phone in, especially if you have proof of impropriety. It is however easy to calculate cost per tonne especially given the knowledge gained moving material around the mine and there are very accurate software programmes that can verify/cross check the numbers. As I say if you have proof of impropriety and Centamin are paying over the odds for the waste material movement, it needs to be raised at the next phone in.
Like goldgnome all of the other wants plus many more including personnel structure would be due diligence that I would expect of a new team, especially given the short comings of previous management.
I was frustrated by the impact on the SP of the wall movement something that isn't unusual occurrence on a mine, especially as the year end bottom line wasn't seriously affected. Unfortunately it is the waste movement and it's impact on the strip ratio that is the issue and remains until this necessary evil ends. We need to know the exact timeline and an end date or more importantly a start date when back to mining not "muck shifting".
I am happy that at long last someone has asked the question about the court case and as I mentioned previously it doesn't surprise me given the number of mining companies that are now exposed to Egyptian Law. It is in their interest to get rules and regulations and precedents sorted out.
Like you I believe there is more to the story about additional deposits in and around Sukari primarily because Horgan has actually said there is and rather than rely on historic data the new team in particularly the geology team I am sure will include in future updates.
Currently what I want to see is results from what is known, as from past experience it is ounces and the bottom line that impacts the SP.
If I wanted to invest in Barrick then I would do so but I have no interest in investing in Barrick or any of the majors and I have walked on many mines operated by majors and see no advantages over current Centamin management. Therefore if there is a takeover then I would cut and run because I see no incentive to stay.
As a Centamin shareholder I see Centamin as a hold because I feel it can only get better and I have to trust Horgan and his team and what I have heard and read they are on the right track.
Could be that they become very successful and the property does then encourage predators, hopefully by then the SP will be climbing above and beyond the £2 region.

Cowichan are you as a long term share holder suggesting there should/will be a merger with Barrick? CentaBarrick?
Are you saying Centamin are looking at venturing into Saudi Arabia or are you saying Centamin are following by employing women to work on the mine?
If the latter then I can assure you there have been women employed by Pharoah Gold from the very start of the mine.

Cowichan, Yes I had a reply to my question asking when we were likely to receive an update on Doropo and Alexander replied to me the following day, also advised that she was out of the office for a week and from memory I think it is today that she is back.

Dusterman, I do hope not and when is the price right for a takeover? Would I want to be an investor in another mining company because of a share swap? Not really so guess I would sell at a price regardless of whether I am comfortable or not, so as I say I hope not and why ripe now and not when it was below a pound?
Would one of the majors be interested in an Egyptian Government profit share not sure but certainly not when I had meetings with the likes of Barrick, Newmont, Anglogold Ashanti all of whom like to be in total control. Would Goldfields think it is worth a punt to get a foothold in Egypt maybe? Does the Court case impact on any decision again not sure but if this is found in favour of Centamin early next year then would certainly be an obstacle removed? Would the removal of the cc threat give fresh impetus to the SP I would hope so.
A bit of a ramble but if the operation gets back on track, cc removed, I see the SP becoming a bit rich for predators who don't relish a profit share arrangement with the Egyptian Government.

Somnamna, The problem seems to be whatever good news Cey present it has little impression on the SP unlike the bad news or perceived bad news that causes mayhem. I feel the board are trying to keep their heads below the parapet because quite honestly until the waste contract finishes and costs of recovery start to drop it is difficult to talk up the company.
An added problem could then be talking up doesn't materialise and any benefit the talking up does comes crashing down as it has in the past.
Horgan likes boring and right now like it or not boring is good BUT as a long- term investor who is now of an age where spending rather than saving is the name of the game I am hoping for a good/great year end statement.
Like due to good grades, they are close to high end of forecast. A detailed "timeline" and end date for waste removal with ore in the open pit now easily accessible providing flexibility across the mine. Encouraging news from ABC and a reiteration of lower cost mine at Doropo and promising results from prospecting the new areas in Egypt.
Also, a reiteration of the larger underground resource and some extra detail on how this will improve the coming year(s) production with a 2023 forecast of or in excess of 500,000 ounces yes, coupled to a lower cost of extraction.
Together with an all-important increasing gold price significantly above their budget forecast model.
I live in hope.

Rebess if a Chamber of Mines has been established in Egypt, I would suggest it would have been the organisation that could be behind the CC resurfacing, not only in support of Centamin but also establishing precedents for the future, benefitting all members.
I haven't been able to confirm that a Chamber has been established but feel sure Tibbs mentioned that one is now in place.
If this is the case and all mining companies are now members, then this organisation will have serious clout and legal strength in depth, so yes, I would hope for a positive outcome.

Steve, thoroughly agree SP is and has been dragged up as with pretty much all gold miners by the upward trend of the gold price which I would hope still has legs, given the state of world economies and fragility of pretty much all currencies.
Like you I am holding because I see no reason why under Horgan's leadership and strong team of guys on the ground that Cey shouldn't blossom.
We have taken a great deal of hurt in getting back to basics and I hope that the hurt will stop once Sukari is structured both above and underground and can move forward from strong foundations.

Will the good news do much for the SP? I doubt it but, it is however definitely good news. The proof will be in the production numbers and therefore the efficiencies in extraction.
We need to keep getting good news such as excellent ounces for the 4th qtr. supported by a strong set of numbers and positive timeline in the Doropo PFS.
We definitely need to see an end of the Capital contract and get back to a straightforward mine.
None of the good news will count for much unless the numbers stack up at the year end.

3bear exactly and as I say I don't see110,000 to 115,000 ounces as good news rather I see it as a poor sorry a very poor 3 - month production figure and will need some detailed explaining. 12,000 ounces or 17,000 less than last qtr. is the equivalent over a week or close to two weeks loss of production ounces.
Given that production guys work to lost minutes or percentages of an hour, not days and certainly not weeks, it is difficult to understand, what "problem" takes one to two weeks to correct.
Has in the past been blamed on cutbacks but they have a fleet of equipment dedicated to moving waste in addition to their own fleet.

Sotolo agreed currently SP following GP so what we need is some good news from Cey over the coming month or so. Mid- range production performance I don't feel is good news. This would presuppose less than 120,000 ounces which is down on third quarter numbers, and this is going in the wrong direction, and I don't accept that a possibility of reduced underground production should impact that significantly.
Given the additional fleet of equipment moving waste the mine should already be far more flexible and accessing different areas with multiple benches bringing about a more efficient mine and hopefully higher average grades.
It is so important to get the strip ratio down hopefully one day in the not-too-distant future below or close to 6:1, which will basically mean Capital's contract has finished, now that would be good news and if coupled with close to 125,000 ounces in 4th quarter and predictions for next year for 125,000 ounces or above per quarter therefore the magic 500,000 ounces pa, we would be back on track.
So, as I say Sotolo agree that we need a more efficient predictable consistent mine together with a strong gold price.
Also, would be useful to see a strong set of numbers for Doropo.
So, no pressure Mr Horgan.

Not sure about zero diesel and zero carbon because all of their work tools such as drills, trucks, loaders, dozers, graders etc are all powered by diesel engines. can they burn alternative fuel maybe, what affect would this have on performance and productivity, not sure. Certainly, worth a watch to see what develops.

Sorry for tardy response as have been busy doing not a lot but I wouldn't bother worrying about what is included in the historic PEA. For Doropo to fly it will need far more detailed numbers and the PFS will be the foundation of putting together a document that hopefully is bankable.