Member Info for DASUT

Sotolo I am sorry but ounces mean everything to me and the cost per ounce moved even more important as without a sound base and cost effective mining operation there is no business.

Sotolo I will be happy if results are inline with or a little above target but also important is that the west wall has been stabilised and that they will access the higher grade ore as the year progresses.
I am hoping that at long last we will also hear good news relating to the additional concessions and the relationship with Egyptian Government and that the court case is effectively nullified with revised terms of agreement.
Any good news relating to West Africa will be the icing on the cake.
I am not sure I fully understand why anyone will be happy with 450 thousand ounces or why it is not until 2023 to get where they need to be, given the equipment that they now have on site with Capital clearing waste to open up other areas of the mine. So I am expecting to hear something a little more positive and am trying hard to remain positive.

Not a clue all depends on Thursday results for 1st qtr and hopefully some additional positive news.

Gents Hedging is something that Centamin will be very wary of because they have had older members of the gold fraternity advise them on what disasters can occur when hedging at a high future price, believe me I have seen it first hand and discussed the aftermath with the then leading major mining CEO's and CFO's that effectively lost credibility and in some cases their jobs. An absolute no no when you are mining one resource and have no ability to crank up production to meet increased demands at a higher price. If you are contracted to meet future demands and can't supply you may have to go to the market and buy at a higher price than you are getting under the contract.
All looks good on paper but not something I would be advising.

Sotolo ounces down yes but not year end profit as was offset by higher gold price and the ounces are still in the ground not lost so actually have a longer life of mine. By all means provide the news due to legislation that ounces will be reduced as this is part and parcel of the targets projected results BUT at the same time the bottom line won't be reduced against forecast because they are unhedged and they have been able to take advantage of the increased gold price with prudent selling. Tell me if the news had been delivered with good PR skills and not panic do you think we would have seen a 50% drop in SP. In my opinion it would have dropped but by nowhere near the 50% and we would now be far closer to the £2 than we are today. Sorry for the tardy response as I have been otherwise engaged.

Razorsedge totally agree Ground movement so SP drops by half, no effect on final forecasted profit so why a profit warning "follow the lemmings". If we had seen a slip like our Dorset Jurassic coast then would understand as the mine works 24/7 so would certainly have been fatalities and loss of assets but there was no lost assets no serious damage done other than to the SP.
All of you/us who have taken advantage to increase our holding then good luck and roll on 22nd when I am expecting to hear encouraging news.

Long overdue.

playingtheodds yes appreciate 22nd we will see the quarterly report but we would normally be given the material movement and ounces processed prior to the formal report.

By now we would have seen some production numbers for the quarter, looks as though we are witnessing a bit of a change in reporting.

Gnome I think we may have moved in similar circles, let's hope the whispers bear fruit.

Gnome very interesting are theses whispers coming from Western Australia?

Somnamma If Centamin are to go owner mining then no they don't have enough cash if the go contract mining then it would be a close run thing and that is if they are only talking opening one mine. Could they get a bank loan from the banks that specialise in mining most definitely, in fact I am sure they are regularly courted by finance organisations willing to throw money at them?
Will this cause issues with investors In my opinion I doubt it as to be honest I don't know of any other mining company worldwide that doesn't have some sort of gearing?
With interest rates as low as they are currently why not grow and use someone else's money to grow?
Rights issue maybe and how will this impact not sure, but my vote would be a straight forward commercial transaction with a bank as this would also show faith from the financial market and could therefore provide additional impetus?

Mr Bond I don't think Centamin are too small as Barrick have a considerable number of mines around the world that are far smaller than Sukari and they are always looking for "ins" into new regions. Is it a good fit with the cc and the profit share structure then maybe not?

Tibbs agreed agreed that previous management did some very strange stuff but confidence comes with experience and Horgan and his associates and contacts have been there and done it and West Africa will reap benefits just take a look at the list of companies on Cowichan's list. Newmont, Goldfields, Barrick, AngloAshanti they aren't there for the benefit of their health. Outside of Australia where contract mining is common place many of the now successful contract miners cut their teeth in West Africa the majority such as AMS and BCM having considerable Australian experience and more importantly West African experience and Horgan already knows how the contract mining thing works as I say he and his team have been there and done it and they have also been at the "face" so "keep the faith".
A decade of drilling is a drop in the ocean their concession areas are massive and if they can bring in 2/3 mines then we are a multi source mining company, which is what many of us shareholders have been calling for for a considerable time.
If you don't drill then you don't know and rather they know than build a camp, waste dump processing plant, tailings dam and later find out they have constructed what is the equivalent to a new town on top of a rich vein. Believe me this has happened, or that a rich area is discovered at a later date elsewhere on the concession area and it is out of economical reach so they need to spend countless dollars on another plant.
Or they sell it and then the buyer builds a mine and earns 10/20 times what it is sold for within short period. Currently there is a mine that I know well that was mined and failed not all due to bad management, it is now owned by two of the majors and they are mining half each and both have been producing gold for 15 years each and counting.
Let us shareholders wait to see what is announced in what I believe is the near future and yes political and financial risks abound but they also offer rewards if you are confident based on experience.

Tibbs if they don't drill holes they don't grow and board of directors should be able to oversee more than one resource it isn't as if they are doing the digging and drilling themselves.
It is all about having the right boots on the ground and from what I am hearing the West Africa team are very experienced and sounds like some of Horgans old team are on the case.
It is so important to have West African experience as there are so many difficulties in putting a fully functioning business together. Just one example the mine has to be registered as a West African company and this company then needs to place orders for millions of dollars for mining equipment etc. This company is a newly formed company with no track record and believe me it becomes a major impediment because of both commercial and political risk. Funds may need to be seen to come from West Africa and questions will need to then be asked does the Central Bank have adequate funds to cover the debt/finance.
Would we be happy to hear that Centamin are underwriting a West African debt in a country that has financial difficulties and then they themselves will need to feel comfortable that they can repatriate funds and again that the Central Bank has the foreign exchange to pay. As I say experience in working in West Africa is imperative.
This is one of the reasons why I see a Mining contractor being involved as reducing risk is of paramount importance. All achievable when you know how.

Spindler oversold hugely oversold BUT our management must take the blame because of the way announcements are made. Yes profit warnings are essential but never ever concentrate on the negative, temper with the positives especially when there was no real drop in profit against forecast.
Yes we have a movement BUT caught early and no slippage and no loss of life or damage to expensive plant. We will see a reduction in ounces but this will be more than compensated by cost reductions and increased value of sales.
This I am sure would have meant an SP fall BUT not 50% which is a long way to come back from.
I understand that the new management team had issues moving into other areas because of the blinkered approach by previous CEO's chasing the grades rather than working several areas at the same time and being far too aggressive with their forecasts but these are educated people who need to understand business as well as mining.
Here's hoping they have learned their lesson and listening to the last conference call/phone in I think they do understand the impact of negativity.

Cowichan I don't understand why Centamin don't appear in this report and not sure that it actually matters too much. Centamin make presentations at all of the important mining events that do actually matter to ensure they are "out there" as far as important investors are concerned.
Having attended many of these forums in the past, particularly Indaba and the Centamin presentations have always filled the hall so people who know mining know all about Centamin.
I would if anything criticise the journalists for not doing a good job and would appear much of the detail was compiled pre pandemic so no excuses and imagine the egg on face of the journalists when their boss finds out Centamin are opening up a mine or two.
The list of names brought back interesting memories having visited about 20 mines and many of their head offices run by 13 of the companies.

lynny as a Royalty generating company it is essential for Altus to broadcast their portfolio and business model as they are looking for investors/joint venture companies/partners in their business to spread the risk and build their portfolio. It is a fascinating business model and they are a dynamic organisation with considerable experience and not to be underestimated but very doubtful that they will take the mine to production as will sell the majority stake if the reserves are sufficient to a another mining house.

Mr Bond, Razor like you I think the cc is lost in some tomb somewhere in the desert BUT unfortunately there is always someone who knows where it has been buried and politics and politicians can have some upsetting agendas that can come back and bite when least expecting it. So if I was Martin Horgan I would like it well and truly finalised as I think it is holding back the SP with large corporate investors that don't like political risk coupled with unrest/court cases etc.
Would it impact on a loan for example should Centamin want to borrow for expansion?
OK they have $300 million in the bank but opening up a new mine would eat up the majority if not all of this and IMO wouldn't make sense to 100% fund a new mine from this cash given how low interest rates are.
Pretty sure as I say it would be far better off the table than a liability.

Mr Bond My question is why haven't we had the specifics relating to the new concession areas in Egypt, is the delay because there is a negotiation to combine Sukari (in total) with the new areas which means an updated renewed contract dated after the court case therefore negating the court case? If so what impact would that have on the SP?
I feel sure the reserves in West Africa are adequate to move forward on at least one of the resources and if this is announced what impact would this have on the SP?
Feeling in the water says something positive is about to be announced.