Member Info for DASUT

Tibbs hopefully if and when Martin Horgan walks away the structure of the company will cope and the people who make the company work being the hands on mine management and personnel will carry on and bring in the results.

I tried to message you but all I got was a message saying that I can message through premium on a free trial and couldn't get past the ruddy thing.

Cowichan, I would message you but to do so I would need to join Linkedin Premium and I have no interest in doing so.
So I will talk to members of my old team to understand why they would think there are negatives in a large additional fleet of Cat machines arriving at Sukari for them to support.

Cowichan,
Why do you say Centamin's relationship with my old team was unduly complicated by the Capital Drilling waste contract?

Cowichan I am not sure why you raise the question of a finders fee, where have you seen reference to such a fee?
I would also like to add that I don't see an alternative other than to employ a contractor to move the waste, unless that is Centamin do it themselves and invest up front in new equipment, people etc.
If it was a contract mining contract then like you I would be questioning why but this is what I call a muck shift project and I like the fact that it is a complimentary fleet of equipment that can be purchased at the end of the contract. Almost like buying on credit but getting work done at the same time, albeit a necessary evil that should have been prevented.
Proof of whether this has been a worthwhile economic project will be once the waste has gone and we are back into a far more flexible mine layout with multiple benches, hence the possible need to increase the fleet.

Gnome thanks for the excellent research and certainly supports my thoughts that Doropo and hopefully ABC was worth the purchasing of Ampella and thoroughly agree with your comment that Batie could have been handled better.
Also supports the comment that 2 out of 3 isn't a bad return especially given how many failed exploration projects that occur.
Again great information. Thanks

Cowichan interesting questions and pretty sure I could answer a number of them based on "contracting" and which would pacify your interest but it will be far more interesting to hear the response from Martin and or Jamie if indeed you get a response.
I don't see however why you shouldn't get a response and I wouldn't be overly worried if there wasn't another contractor quotation because it wouldn't be difficult to know what was acceptable or otherwise.
If Centamin don't know their cost per tonne when working with a fleet of Caterpillar equipment then someone needs shooting not just firing.
As for fixing a buy price for the equipment at the end of the contract not sure that would work in favour of either party. I would prefer price ruling at the time of sale. There are a good number of unknowns at the start of the contract and would suggest there will be the need for a third party to assist with valuations.
Anyway enough of my thoughts as I say will be interesting to hear from those in the know.

Paul, You summed it up perfectly, my wife is the gardener and the only time I get anything done right in the garden is when I follow her instructions to the letter, or better is for the expert to do the job. Hopefully this what Horgan is doing getting experts in important areas who can either do the work themselves and/or delegate to achieve the right results.
Time will tell.

Sotolo hopefully it is all of the progress behind the scenes that Horgan is happy about because 93,000 oz and due according to the numbers low performance in the open pit rather than serious dip in underground due to the phase out of the contractor so certainly isn't anything to crow about or be positive about. Hopefully can't get any worse and woops hope I haven't jinxed it.

Freedom, Material moved is basically both waste and ore and if you divide the ore number by total material used you arrive at the strip ratio. The strip ratio being so high with waste means costs are high because waste brings in 0 revenue so costs straight to the bottom line or cost per ounce of gold.
The sooner the waste removal contract finishes the better and then "hopefully" we will see a sensible overall cost structure resembling good old fashioned mining.

Cowichan I fully appreciate that the Barrick guys are working at Sukari and also appreciate they aren't all Canadian and pretty sure not all of the Canadians are French Canadians. If however there are a few who are then this will be of help when they develop Doropo and ABC because inhouse expertise is better than external hires which takes time to get organised . Filling expatriate jobs in Egypt with nationals will be a priority and pretty much I would suggest a necessity under the employment rules and regulations in Egypt.
Just saying that it provides some flexibility and like you I am not interested in a Barrick takeover far from it as if I had wanted to invest in Barrick I would have done it a long time back I have after all visited many of their mines.
Likewise any other major such as Newmont and I have visited both companies head offices in Toronto and Denver also many other majors they don't interest me as far too corporate for my liking.

Cowichan, Something that I find interesting is how strong the new team is becoming and yes there are a number of Barrick guys coming on board. I quite like that albeit maybe presupposing too much but Ivory Coast as you know well is French speaking and synergies and flexibility makes sense to me as the business develops and grows.
There are few French speaking countries around the world like Canada producing mining professionals.
Presupposing the new appointees speak French but if they do then hats off to the HR Department or am I being too optimistic?

Miz, Interesting but I don't see EMRA throwing money at Sukari when they get a 50% share of the profits with no investment necessary. Experience tells me when Government nationalise going concerns in particular risky ventures like mines they crash and burn primarily because it is thought to be a license to print money and money means greed.
We know how easy it is to get things wrong even with so called professionals running the show.
Shalateen not sure who they are OK understand what they are but who are they is more important?

Tibbs, Cowichan No I don't think the questions have been fully answered not sure that it is an excuse but definitely think it is an issue that Horgan has inherited too late for a straight forward solution and certainly something he could do without.
Having been in country during and after a coup I do understand the frustrations so am prepared to give him and the team the benefit of the doubt. No way am I saying what has happened and is currently going on is acceptable but reckon Horgan in particular has a considerable number of other issues and projects that can bring about more beneficial contributions.
Batie West didn't work out BUT it was only part of the overall package and if Doropo and ABC prove to be profitable mines then 2 out of 3 is a good return in mining terms.
If Cey can partner with the likes of a major or a company experienced with refractory ore then excellent but I don't think the ore body is necessarily the issue in attracting a partner but feel it is more likely the political risk.
So in Cey's favour is that BF government won't necessarily want to take the concession back as they will have the same problem, without the knowledge and Cey contacts, maybe with Centamin prepared to share the risk with a partner.
In my opinion it would be of no advantage for the BF government who has far more issues to worry about than taking back the concession, and will I believe rely on Centamin to encourage a suitably qualified organisation to take the ore body to the next levels.
So yes there definitely needs to be better communication and it shouldn't be the likes of us assuming what the issues are because I/we have no influence over the thoughts of investors.

Cowichan Batie wasn't covered in the presentation but did get raised as a question and answered by both Horgan and Jerrard. Have a listen to the presentation on the website.

OK so Q1 down as far as ounces concerned even on the 45% by mid year so quite some work to do in Q2 to give the resemblance of getting on track for year end guidance.
So even worse than I envisaged can I find any good news other than the jam tomorrow presentation?
Well yes I am very impressed with the tonnes of ore moved. Not so impressed with the strip ratio as this is where the cost per ounce is currently crucifying us.
So question will be how long or how many ounces need to be extracted before we start seeing a break even number ?
I am sure this is uppermost in the mind of the operational team. Which leads me on to another piece of good news and that is that we now have a General Manager at Sukari who is a real hands on General Manager not a political appointee or mouth piece of the CEO.
Martin Horgan is another piece of good news as he definitely has his fingers on the pulse and understands what is happening in detail pretty much on a day by day basis.
Bad news for shareholders is that SP crashes yet again and this was definitely something I was expecting but the traders will love this certainty.
Another three months of wait and see.
Very disappointed with the Q&A session especially from the major investment organisations, does this mean that everything was as expected or do they not understand the need for information?

My guess is a hopeful 100,000 ounces which might give the SP a chance but won't be enough for an end of quarter profit.

BC great to hear from you and thanks for your current knowledge I am sure technology has moved on so much it is a good thing that the dinosaur called Dasut retired. I trust life is treating you well down under and best to you and your family. Stay safe.

Tibbs appreciate the developments in electrics have moved on but can't get my head around a 300 tonne shovel when a 26 tonne needs a battery pack weighing 3.4 tonnes. This means the 300 tonne unit battery pack will be approaching 40 tonnes. Charging time would be days.
What I think Sany have is the age old hybrid diesel electric but unfortunately difficult to find a spec sheet of the machine so can't confirm either way.
Mines dictate machines providing maximum production and nothing unusual for a mine to run 3 x 8 hour shift and efficiencies along the same lines as pit stops at a grand prix, albeit longer change overs because they would normally do fuel and service top ups and operator walk round, similar to a pilot does his checks before take off. There are extremes as have seen a mine where they have drive too gantry systems and the operator walks off and new guy walks on and doesn't have to climb the steps.
Many other extras such quick fill diesel tanks and lube clusters.
So waiting over night for a machine to be charged won't work so as have said we need considerably more information to understand how productive and therefore cost effective the equipment really is. Also how many additional machines would be required to meet production plans.

Fascinating but knowing what I know about mining equipment I would need to look at the pros and cons of introducing the technology into Egypt. I know the likes of Caterpillar have trial fleets with major mining companies around the world to ensure product reliability, performance and costs work for their customers.
It must be the way to go but not sure if Centamin are ready for the leap into what could be the unknown but 18 months is quite a long time and considerable advances and knowledge will be gained during that time.
It is interesting how automation is linked to electric drive equipment, I remember in 1980 seeing automated equipment running in a proving area and 40 plus years on we only see a limited number of machines working in the Industry.
Will Health and Safety acts around the world move with the times to allow machines to run around mines without drivers/operators? Yes I am sure one day it will happen is Centamin ready to introduce this technology I am not sure but certainly wouldn't rule it out.
I would however like to see numbers particularly around performance and reliability based on actual mine site conditions and applications but I have been out of the market for quite a while so maybe need to chat with people who have first hand experience.
There is an awful lot more to cost effective mining equipment than an electric motor turning the wheels as also need to provide power to hydraulics to lift the tools to do the work. Larger the machine and the heavier the work brings in additional dynamics.
I would be interested in hearing from anyone on this forum who has first hand experience of truly battery powered mining equipment Mr BC if you are still reading the contributions.