Member Info for DASUT

Tibbs my pleasure let us hope Monday the news is that we are still on track because given the GP, now is the time I believe to see the magic £2 SP. GLA

Sotolo just found my golden flip flops wrapped up in my honorary Pharaoh Gold rugby shirt that they Josef and the team wore at the Dubai Rugby 7's back in the day. Sorry goldgnome maybe need an interpretation golden thongs down under. GLA for Monday and here's hoping that no news recently is good news.

Yes seems late UK time about the time of UK exchange closing and then US kicks in and we see an increase so we will need to see where it ends up at US close.

I wonder if Sawiris bought into Shalateen as last we heard he was trying to get a controlling interest.?

Asleep I collect gold coins and have done for quite a while mainly sovereigns has it been a good investment I really don't know because I haven't actually sold any but suggest will be a pretty good investment bearing in mind the rise in gold price since say 1998 when I bought my first coins to add to some coins that I have had since I was a young un?
There again I also collect British stamps and have done also since I was a lad and pretty sure they have been a far better investment.
Time will tell as only know whether any investment is any good when you actually sell them.

goldgnome like you I agree we are long past seeing some sort of plan to convert the resource and given Martin Horgan's experience I am hoping we will hear something positive come the half year results and AGM.

Tibbs I suggest Kinesis need to ramp up their marketing campaign because nobody I know outside this board has a clue about how Kinesis works or who they are and what risks/guarantees are involved etc and if you google Kinesis they don't appear in a prominent position.

Foreign exchange risks are not something to take lightly if only Cey could hold in gold! and convert only when they need to, as it is they are paid in US dollars and maybe Egyptian Pounds for the quantity they are obliged to sell to the Egyptian treasury. The only time I would suggest they take anything out of their dollar account relating to Sterling will be to pay staff in Jersey or for something they buy in Sterling. Likewise for any other non US dollar currency. OK I am sure they hold some non US Dollar accounts but these would be very small in comparison.
The only time Sterling comes into play as far as I am concerned is when Share Price is quoted in UK and when banks convert the dividend.
I remember years ago having a chat with a group of mining guys where we consumed too many beers and we got onto exchange risks bearing in mind the government at the time were threatening that all transactions were to be conducted in the local currency (not Internationally convertible) so you couldn't take it outside of the country and spend it or cash it through your home bank. Long story short was why mine it at all as if sold in US Dollars then had to be converted into a local currency that could only be spent locally but you couldn't buy what you needed locally to keep the business running. As I say Foreign exchange not something to be taken lightly and hopefully this has lightened the tone of the discussion. I hope all are safe and looking forward to the half year results and hopefully a VERY positive AGM when I for one am hoping for an aggressive West Africa plan and maybe a new development in Egypt.
With our SP hovering around the 180 at the time of a positive future being announced by our new board resulting in push through the long overdue £2 price level.
GLA

Whitegates55 an interesting contribution The Nile and it's source and Egypt's insistence on abiding by the rules and regulations that are in place to basically protect Egypt.
Uganda, Kenya and Tanzania like Ethiopia would be able to reduce their droughts considerably if they were able to take more advantage of the water originating from Lake Victoria , White and Blue Nile.
There will always be heated discussions on the pros and cons.

Crockedskier It has never topped 2 because I have until recently had a sell instruction at 2 and 197.10 is the highest back in November 2010.

Sotolo,Rebess somewhat confusing but maybe a lag behind GP that dropped a little but now back on track and hovering around $1745/50 provides confidence I would hope. Will we break through 190 I see no reason why not if we have a positive half year message.

Great to hear from you Cholly all good info couldn't have put it better and the Aussie truck conversion works well in Queensland with the support of you guys but bottom dump comes with it's own challenges with mods needed at the plant/crusher and Egypt lacks the support you can provide.
As we agree long hauls bring issues that convert to cost increases. Stay well

Just checked and still not received divi through HSBC and have also messaged them but as of yet no response.

Rebess I thoroughly agree definitely worth mentioning and hope that trucking distance develops into a cost effective extension to the existing setup or better yet a stand alone new mine .

Rebess Trucking distance always worries me a bit because mining trucks don't like travelling distances, and double handling into smaller on highway type trucks adds costs so grades need to be good.
Trucking distance is something that the Mining Engineers like to say as a throw away but I have had many a discussion with the miners together with the guys who have to keep the trucks working and always take note of the latter because they know best. If Cholley is reading this I know he will concur.

Rebess I think we will hear more about West Africa when they provide us with half year results and Martin Horgan has centre stage and feel sure they will be players in the new licence round but suggest it is necessary to hold your cards tight.
The mention of assets of 5 million ounces in West Africa means to me that they could quite easily model a mine similar to Toro Gold albeit these assets are widely spread over 3000 sq km but to kick off a mine similar to Toro or some of Endeavour's operations anything north of a million ounces could work if the ground is good with friendly oxide ores.
I do however see Centamin playing a bit of a longer game especially as they keep finding additional fresh promising areas.

Sotolo Like you I haven't seen my divi so HSBC are similar to Barclays bloody slow.

Razorsedge I think Youssef would love to have another concession but the board has always said must be viable and adding value. Must not be just for the sake of having another concession in their portfolio. Also there are several opportunities within the Sukari 160km concession area.
This said I feel sure that there are areas that would be of interest to Centamin and Sami is/was pretty much the most knowledgeable expert when it comes to the regions geology and it's opportunities.
Someone wrote that Sukari wasn't the preferred area when initially looking to develop their first opportunity although it was always my belief that Sami had always focused on the Sukari mountain range area.

Prof my calcs were simple invest in a shares ISA what I could afford to lose when I retired and if it got to £2 sell and pay off granddaughters uni costs.
Much has changed since that very simple decision, granddaughter didn't bother with uni and went in a different direction which worked out really well.
I am of an age where if it hits £2 maybe will sell and forget investing and splash out on something.

Prof my golden flip flops price has always been £2 but that was prior to the West African acquisitions so would feel that if and when a second/third resource was brought to a mine, should still have legs if the GP continues to remain above $1700, preferably above $1750.
I do however have a caveat due to problems with Covid and West Africa/Africa because if the disease does catch hold there will need to be a massive International support effort to prevent devastation. Problem is that the developed International nations all have their own issues not helped by Trump withdrawing payments to the WHO.
Good news is that there are additional opportunities in Egypt and considerable experience in their Egyptian employees/ management and am certain Sami knows where the best opportunities are.