Member Info for DASUT

Mr Bond I would hope that there will already be many individual studies that are available and there are very effective mining software programmes that can quickly bring such studies and data to formulate a mine plan that can be regularly updated as more data is made available.
I have been retired for 12 years when studies were generally put together by consultants and many were going through lengthy analysis and compiling lengthy worded reports that took for ever. There was at that time software packages that were as far as I am concerned amazing and I didn't have to get my calculator out to work the numbers, but still limited.
Since retiring I have done the odd bit of work and been absolutely blown away by what has and still is being developed and how detailed and quickly reports can be generated.
Definitely agree however that it isn't going to be something that will happen immediately but I think we are getting very close to a positive statement.

Tibbs like I say time will tell and hope if Sukari is on track and going well then he leaves the guys on the ground to drive it forward. He can then lead a team to focus on West Africa and if he does what he did in Senegal and brings on board the likes of Ausdrill/AMS who are both experienced and financially strong, then providing the resource(s) is proven and feasibility studies are bankable then I see no reason why project(s) couldn't be similarly fast tracked. Especially if the project(s) are of a similar size to Mako,Senegal because this is a far smaller mine than Sukari and will be easily managed with a reliable contractor with the size of mining machines that they specialise in and will fit into existing contractor fleets providing compatibility and consistency.

Tibbs I have the opportunity to talk to people who actually deal with Gold Mining companies on a regular basis including Centamin. I try not to bother them however because I have retired and don't want to give the impression that I can't let go and let them do their jobs. Fortunately there are the occasions when I do get the opportunity to chat and throw in a few questions and I think there will be a sense of relief that he is moving on but as I say it will be interesting to see where he goes.
As for Martin Horgan time will tell he certainly has the right credentials but I remember strange as it happens a Mine Manager who worked for Resolute and he was the best in the business at taking a mine from a virgin site to producing gold but he had no real love of the day to day running of a mine once it was up and running and would move on to the next project. So as I say time will tell he is certainly well experienced and connected and this counts for a lot especially when looking at opening up new project(s) especially in French speaking West Africa.

I tend to agree as I am led to believe Jeremy is a very ambitious individual and maybe beginning to believe there was also some truth in the conspiracy theory relating to the Endeavour merger.
I wasn't happy with his answers to my questions at the last phone in relating to the clean up of last quarter blitz affecting 1st quarter production and whether he was involving the likes of Caterpillar and other equipment providers to look at production efficiencies. I did some digging recently and wasn't overly encouraged by what I was hearing. It will be extremely interesting to see where he ends up.
Tibbs I don't know Martin Horgan but from what I have heard he has a strong foundation, broad experience and impressive contacts also sounds like the practical type which is what Centamin needs to grow the company into a multi resource organisation. I also feel sure he won't have any trouble finding a COO.

I have deliberately stopped looking at share prices as didn't want to be depressed during this boring lock down and trying also to support my love ones who are suffering "Furlough issues". I have just spent a while catching up with the best of all chat group contributors. Definitely confusing and worrying times thankfully the majority of my investments are in gold and gold miners. A little surprised that we aren't seeing a stronger SP and feel the ruling that they can't issue any preliminary results could well play to our advantage especially as we are expecting a mediocre first half year and management are telling us that there has been no disruption to their business and they remain strong. The security procedures that they have in place will work in their favour when limiting non essential visitors as they are located in a Military Zone and permission is required to visit not just the mine but also the area it is located within so a double check involving the military.
Stay safe a positive.

Rebess I am sure I read on this board that dear uncle Youssef had already intimated that Centamin were intending to participate in the next round in one of his statements to the Egyptian press.

Rebess I don't find it odd at all, as why show your hand on something that will only attract competitors as I would hope given their knowledge of Egyptian geology they will bid on areas where they believe best chance of success. If I was a competitor I would love to know Centamin's intentions.

RazorsEdge yet another Monday.

Rebess How true you are it seems every Monday we take a hit and April/July similarly hit BUT I seem to remember somewhere reading or hearing that there was a bit of a carry over from end of last year that might help. Also however far rather a bit of a pull back from the 1.60 than where we were a couple of weeks ago below 1.30. Hopefully we are proved wrong and the production guys do us proud and hit the targets.

If it hasn't already played a role I think it will very soon maybe an even better end of the week.

It is sad that Sami retired because his knowledge of the geology of Egypt would be invaluable who knows maybe he will play an advisory role.

Bob like you not qualified to calculate the impact and all depends on spot price at the time Cey are looking to sell their shipment so unlikely a guess at 1588 will work and way too many other factors involved as to how many ounces and when, averaged over the given periods. As for Berenburg not someone I know have tried their namesake drink once when in Rotterdam which is OK albeit not really a lover of Gin maybe they have had one too many.

Bob I could be wrong but I don't think the Centamin agreement with EMRA fits with Barrick's business model and unlikely they will invest in an exploration programme in virgin sites even given some historic evidence of resources.
This said I am sure they will be closely monitoring juniors hoping to replicate Centamin's success and who have the more advantageous terms of contract. If there is a likelihood of success then you will maybe see the majors investing in the juniors in exchange for percentages in the project.
With that said I am off to find some sun and will be back in a couple of weeks.

Rebess, Cowichan, I asked the last question and to be honest still scratching my head after hearing that following the Mine Plan is why the 40/60 split. I have read through presentation again and believe we are going to see a higher strip ratio with more trucks visiting the waste dumps as they work on opening up zone 5. I like the idea of phasing in the removal of waste spreading over time as this is good practice rather than all waste and no ore after zone 4 is depleted, which really would be the after effects of high grading.
Why such an impact in the first/second quarter I can only surmise that to hit last quarter targets they did concentrate on ore and didn't spread the load as much as the schedules dictate and have some catching up to do, which I can understand.

Rebess I see this as pretty much back to the "conservative" Centamin of 3/4 years ago with a matter of fact presentation and no bravado and 40/60 split isn't a major worry providing they meet forecast each quarter and not a mile off like last year.
I think it would be better if they had more than Ross and Jeremy involved in the slide presentation as whilst Ross did an OK job it was obvious that he was presenting the words written by others. However obviously far more confident with the financial numbers.
I do however like Jeremy's confidence and enthusiasm and long may it continue,

Well I listened through the podcast and asked a couple of questions and have no doubt that something positive is happening in West Africa but they can't provide details as it is what I would call an evolving dynamic project, namely Doropo and I don't expect we will hear much until maybe back end of this year. It sounds like another project I followed for several years where an exploration programme would throw up encouraging results and then another a few kilometres away through up even more interesting results, Something that we all thought would take a year to unravel took considerably longer, with an ever evolving plant size and type, with plans changing to choose an optimum site. Jeremy used the word exciting several times, which is very encouraging albeit a bit frustrating like dangling a carrot.
I know Rebess will say here we go again 40/60 annual production ratio and I asked the question but they were adamant this is mine plan driven and nothing more cynical.
Something else that was interesting was Jeremy saying when answering a question as to where they are at with Cleopatra and is there going to be a contribution in 2020, he said no numbers included in this years forecast and they are spoilt for choice at Sukari. Some might say just get on with it but to me such comments are encouraging for the future of the company.

Rebess I couldn't agree more although it seems the majority of shareholders, speculators rather than investors will look at numbers rather than management.
Management is crucial but the mine and the guys on the ground will pretty much dictate results and whilst management might think they are in control realistically it is like stopping or turning an oil tanker it don't happen too quickly and often trying to stop or change direction is too late. Listening to the people at the face with feet on the ground is crucial.
I always learned a lot talking to the guys operating the shovel, motor grader, dozer, truck and the guys in the workshop and warehouse etc .
This is why I thought it was a breath of fresh air listening to Jeremy Langford during the last phone in as I am sure he was fresh from talking extensively to his foot soldiers and middle managers.
What we now need is some strong policy and direction with meaningful time line decisions to add to the resources.
Hopeful for a well structured presentation tomorrow.

Cowichan this is what comes from too much information at least they have learned and the 14th Jan Report keeps things to the point and more the Executive Summary rather than too many nuts and bolts to attract specific criticisms.
Agreed that they have had issues over the last couple of years and they have admitted their shortcomings BUT they have always generated a year end profit and hopefully they have learned that forecasts MUST be realistic and achievable and not fall into the naive trap of believing their success will continue at the same or improved level and growth is a given.
It is easy to criticise but it has to be constructive and as far as West Africa is concerned I am glad they didn't jump within the totally unrealistic 1/2 year "short term" and common sense meant they spend more time to carry through their due diligence to ensure the next major investment is made where the resource provides the best return and if this is Doropo rather than Batie West then so be it.
Rather than criticise I think we need to wait to see what the new team are telling us tomorrow.

It could be a good little earner if the grades are right. Just shows how inefficient mining was back in the day for such grades to still be in the old tailings dumps. Just to put the size of the plant into perspective, each Truck on the Centamin mine carries approx 140 tonnes so this will be a small scale operation probably a number of smallish excavators loading the likes of articulated dump trucks.
A small scale mine but as I say could still be an earner if all goes well but would suggest it will be a relatively short term project.

The advantage maybe of sensible forecasting having said that I also find it somewhat suspicious as mining isn't normally so consistent.
Centamin if you took last 4/5 years production and looked at forecast for total production in 2015 over the coming 4/5 years then not far off total prediction but peaks and troughs, this I would suggest is quite normal.