Member Info for DASUT

Cholly good to hear from you trust you and family are well and staying safe are you still in Queensland? "Centamint" currently very tasty always the joker.

At long last we have broken through the 150 and to be honest after reading through and then listening to yesterday's presentation I am surprised regardless of the flattening yesterday of the GP that we didn't break through earlier.
The 1st quarter results are a triumph given the high strip ratio maybe as a result of the 4th quarter blitz where the strip ratio dropped, the material moved efficiencies in the open pit must have been significant, so hats off and this will I am sure help with the ongoing production. The financials obviously helped by the carry over of gold sales.
Martin Horgan came across well although very early days so all in all a great start to the year and at a time when it is very very difficult to exist let alone out perform. Credit where credit is due very well done and let's hope it continues.

Prof I missed the phone in who made the presentation and was there anything relating to new resources opening up?

Rebess/Prof sorry could have combined my response anyway yes could well be improved grades and reduced strip ratio but I remember reading somewhere that there was a bit of a carry over from 2019, but would suggest it is improved grade and I am also hoping that there is some promising contribution from underground.
What is still worrying me is the departure of Jeremy Langford and the reasoning and maybe the continuation of the blitz so looking forward to hearing what is said next week.

Prof I do love your optimism but I would be happy with 540/550k otherwise we go through some difficult times in 2021 maintaining production and profits to satisfy the market.

Love to be a fly on the wall if Shvets and Trump were sitting opposite each other.

Gnome thoroughly agree and Martin Horgan looks to be very well connected so over time I would suggest there will be a shake up. Hopefully however he will take his time because I hate change for the sake of change as often it causes inefficiencies due to anxiety and there is enough anxiety at the moment.

Uncle Youssef has been known to present unreliable numbers but surely given we are half way through April his numbers are accurate and if so then it is heartening and somewhat encouraging and also a relief as we are ahead of plan so some very good news.

Cowichan OK will give it a go: -

a. Zero shares purchase
a. Announcement on a detailed feasibility study in West Africa with a projected start date.
b. No merger or jv by a major until a positive move in West Africa
c. Yes to an expansion at Sukari but also more detail on the way forward on the underground contribution
d. More details on total resource available and efficiencies.
e. Bidding on another concession area in Egypt
The above said at the end of the day I don't actually think they will cover much detail for the future and report will concentrate on 2019 performance and reiterate what they said in the preliminary report back in January with more detailed financials.
Report on the future developments postponed and to be included with the half year financial report to allow the new CEO time to provide his input.

Nardniles basically following the Gold Price so hope will start to rise again as the profit takers did their bit early morning and the investors get in on the price drop and up it goes again and hopefully as the US comes on they will continue the rise, who knows at this strange time?

No surprises that the GP has dropped today profit taking here after the steep rise yesterday I do still have some confidence that GP will stay strong.

Prof Interesting business model at Cey, assets are not overly far off where they were back at the start so still a strong base, selling price of their asset is very strong. The management reputation and efficiencies and costs of production up until a couple/three years ago had generated a confidence. This confidence unfortunately has gone and as such the SP struggles whenever there is the slightest blip regardless that a profit is achieved.
To a certain extent I have a sympathy for management when confronted with the normal issues of a well developed mine and the variations of the grades , travel distances ageing plant, increasing material volumes and strip ratios, changes in ore types etc. What I don't however have any sympathy for is complacency and lack of communication between departments and therefore producing confusing incorrect information which happened with the now gone Pardey.
I think it will take a while for that confidence to return and will depend on the new management bringing their experiences to the table but unfortunately as I say this isn't likely to happen overnight, and the SP will follow the gold price.
Unless we see another resource opening up and or an additional new resource local to Sukari being added to the portfolio.
I am hoping that the 4th quarter blitz hasn't come at a cost and been detrimental to the first half of this year as we and the new management don't need another below par performance.
I digress however I would love to see the gold price break through $1750 and our SP follow.

With POG breaking through $1720 and still on the rise are we going to get above $1750 by the end of the week?

So if it stays at CAD 2.61 we should start tomorrow at close to £1.50, wouldn't that be a pleasant start to the day?

Tibbs water and power are both critical to any mine and Sukari didn't have either readily available, hence the need to access seawater and then the need for a desalination plant and generate their own power using diesel generators, now or soon to be supported by a solar farm.
Market obviously knows something more than me because I wasn't aware of an alternative site preference at the very beginning of Pharaoh Golds existence which is fascinating given the possible opportunities of new concessions coming available.

Market are you saying that Sami had another area in Egypt that he would rather mined prior to Sukari or another site within their concession?

Mikefreedom I was of the same opinion as you Jeremy came across as good and enthusiastic get it sorted type and the last quarter of last year was very good and almost succeeded in hitting plan, however when I questioned him on the impact of the 4th quarter blitz and the 1st quarter reduction I didn't get a satisfactory response.
We will have to wait to see if he did actually have an ongoing impact as we haven't heard anything since end of last year.

I think we all need to be optimistic at this time and sincerely hope that we and all at Centamin stay safe.
As far as the new CEO is concerned I hope that he takes time to look at what he has as far as resource and who he has to bring the best results and I sincerely hope he doesn't make too many changes too quickly, although I am sure he will have a good idea who he wants to replace the outgoing COO.
I believe he has an impressive CV but prior to Toro he hasn't as far as I know held a position of CEO and the main Toro Project Mako is a relatively small mine that is contract mined by a very efficient contractor.
This said he will have hands on experience of bringing a resource to production and as such will have been involved in every aspect and risk of the operation.
This is very early days but as I have said previously unless there is something going wrong and Sukari isn't performing to plan he lets existing management run Sukari and then hopefully he can bring his considerable experience to bringing in resource(s) in West Africa to production.
I am optimistic that we will see a stronger team at Centamin in the coming months.

goldgnome fascinating I am sure we could talk for ages about our experiences as my first posting to West Africa was Sierra Leone in 1971 as a young un and travelled back and forth for the rest of my working life.

Mr Bond I don't think there will be any reason why Ausdrill/AMS won't announce a new contract but would hope that by that time it will be common knowledge. Also might not be Ausdrill/ AMS as there are several very competent contractors operating in West Africa but having already worked with Martin Horgan at Mako it should give them an edge.