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Cowichan I don't disagree with anything you say all I am doing is saying the way it is. I am not defending anyone just saying that what has happened was carried out and said by people who are no longer around and it is history that can't be changed.
What we now have to do is wait to see what plans and details the new guard are going to provide on 30th and hope that we are back on track.

Cowichan what I am saying is that I think they believe they have answered your questions and I think we will need to wait for 30th for the details.
Many of the answers that we need will pretty much be routed via Jeremy Langford and his relatively new team so I think we need have some patience as they will have been somewhat busy trying to hit important targets. Going back to November phone in it was also Jeremy who was saying that there needs to be a focus on understanding in more detail the available resources. I think it will be pushing it to see any detailed results from this study as I know how long it takes to undertake such studies especially when coupled with numbers relating to best means of extraction.

Cowichan I thought I had read an answer to your questions albeit a bit vague.
I don't think there is anything more to tell us about the BF Konkera/Batie West Resource of 1.9 m Oxide ounces as this is included in the January 14th Report.
In the same report they also include the state of play on the Doropo Project advising and confirming what I heard during the November phone in that the PEA is now 2nd Qtr/1st half 2020. From memory what was said in November was Doropo was delayed due to some promising results and seems the indications in the 14th January report of 2.18m ounces aren't too shabby.
Hopefully we will get a more meat on the bones in the presentation on 30th.

I reckon the court case is an embarrassment to the judiciary brought at a time when Egypt was in crisis and best buried and forgotten about. Siko is there maybe a statute of limitations that could apply to save face?

Tibbs yes understood I remember the your post. Problem readers and contributors of this board will have is the time it takes to develop a new mine.
Given the way Centamin work is basically they don't appear to like borrowing and as such to develop a new mine it has to be long term and I think Batie West was good but maybe not as good as Doropo taking into account risk and resource.
Whilst it is great to have $340 million in the bank it won't go far if they want to open a new mine with CIL or similar plant, plus all of the mining equipment and infrastructure.
However Batie West has enough proven reserves in my view to get started with a simple heap leach operation providing the oxide ores are easily leached, if nothing else but to finance future exploration of the resource, using experience of an established contract mining company that can bring in their own equipment, tailored to the size of the resource.

Those of you who are unhappy with Buchanon I would suggest an mail to Alexandra Carse and why not copy in Ross Jerarrad with a well constructed to the point question or couple of questions, short and to the point I reckon you will get an answer, worth a go and add a short sentence sorry to bother you but I am not getting a satisfactory response from Buchanon .
Also Supercharger Jim Rutherford worked for Anglo American and they don't do Gold. Anglogold was offloaded by Anglo American some time back, subsequently Anglogold joined forces with Ashanti gold and this group would be a very interesting marriage with Centamin as they have considerable experience in developing both open pit, underground and West Africa.
However the main reason why I feel the majors aren't putting Centamin at the top of their acquisitions list is still the profit share contract that they have with EMRA, and the aggravating itch of the court case.
Endeavour aren't a major and are desperate for cash and therefore Centamin were seen as a fit (with Sawiris also looking to drive a wedge) and as we all know following the 2nd and 3rd quarter results at Sukari and the incompetent handling of this by senior management, Centamin were vulnerable.
I therefore agree with Rebess we are only as good as the next quarter results as what has been done has been done and as we only have one resource at the moment there is very little wiggle room.
Reading the Corporate Update 14th January there is mention of Batie West and reading between the lines I have a gut feeling they are going to look at a low cost start up as they mention oxides and go with a heap leach operation using a contractor. This will get them into production quickly and give them time to get on the ground knowledge of future development of the resource.
I also feel that they reckon Doropo is now where they are looking to invest and develop a larger long term operation but I must emphasise this is only gut feel.

Rebess I understand your worry but it is seldom that we have had the guy on the ground responsible for operations voicing his thoughts at a phone in and as I say I hope he is involved on 30th because this will give us a great deal more of an insight, especially as he will already be a month in.
I am sure there was a great deal of scraping around for ounces to get close to the bottom end forecast but they don't have to achieve the same results to meet the 2020E forecast and this needs to be borne in mind to achieve 540 they need 45,000 a month and 510 they need 42,500 per month so bottom end or somewhere in between puts us on track.

Rebess there has been some interesting input over the last days and I think we need to give some credit to the Cey team many of whom are new in the job but the turn around over JUST 3 months is nothing short of outstanding.
As I have pointed out there was always a good chance of getting close to the 50 thousand ounces a month if the ratios worked and all I can say is hats off to the operational guys for a very good job well done.
Yes I know that we have seen many ups and downs but right now I am more than pleased with what has been achieved so as I say pat on the back for Jeremy and his team.
Yes 30th is now crucial and hopefully we will get the same positive vibes that I felt when listening to the last phone in with Jeremy participating.

Agreed but not happy with the "lemmings" jumping off the cliff and the SP crash and I have been supporting the SP over the last weeks and my thanks are a slap on the head and a loss, let's hope those who understand this share get us back on track.
For the time being gold flip flops back in the wardrobe but hopefully after the financials are announced at the end of the month and I take a holiday I can take them with me.

To be honest I am a little surprised as I thought they would try harder given their need for cash but at the same time what a relief .

I suppose it depends where the offer is coming from. Canada aren't up and about yet and no idea where their Chairman is although supposedly bases himself in France.
Personally hope we don't hear anything today.

Dansul, I have no idea why La Mancha decided to go all out with Endeavour maybe at the time it was a good bet. Still not a bad bet as whilst they have debts they also have a couple of good mines with considerable potential in other areas.
Problem is there are some balloon payments that could give them grief. However banks quite like a client who borrows so rescheduling debts are nothing uncommon and there are many if not the majority of mining companies in debt.
It is difficult not to be in debt if you are looking at growth as there aren't many companies that can go off and spend say $100 million on mining and construction equipment, build workshops, offices, power house and the very expensive processing plant plus many other expensive items, quite obviously the pay back like any other business has to be shown in a robust business plan that banks will scrutinise and often be involved in preparing together with outside mining consultants. This is called the bankable feasibility study.
They do have a very influential gentleman on their board namely James Askew and we will never know but would be interested to know how much he has invested in Endeavour.
Sorry not a clear cut response.

I think Tigerbythetail has summed up the situation very well it would in the short term help balance the risks for the two institutional investors. I emphasise short term BUT the major winner would be La Mancha as their risks are seriously exposed.

Bob, Blackrock has 10.7 % and Van Eyck 9.7% ownership of Endeavour as at the November 2019 Financial Report. With La Mancha holding 29.9%.

Siko many thanks for your views something we all need to understand and I am sure Mr Sawiris is fully aware is to start a new mine in a market that has limited people resource is expensive as there is a need to bring in people from outside or pay big bucks to poach those employed in the only producing mine. This is why I have banged on about "goodwill" as Centamin have gone through some serious growth experiences and are pretty much solely responsible for training the Egyptian work force. Does Endeavour have this type of experience in West Africa yes but to a lesser extent as mining is an established market throughout West Africa.
So it isn't just the cash in the bank that Endeavour Investors want it is the gold and people resource so Centamin have so much to value and can't be sold off cheaply. If it did happen I can see more movement of people from Egypt (lower cost than Canadians) to West Africa filling supervisory, junior management roles than the other way around.

Siko good to hear from you tell me is Mr Sawiris as influential in Egypt today as he was in the past?
The reason I ask is that when president Mubarak was in power there were a number of influential individuals/families who fell out of favour after Mubarak was ousted.
Many of these individuals/families were leaders of industry and Mubarak even conscripted them into government/civil service I can't remember the dates but must have been about 2005/2006 when Egypt was going through difficult times.
Certainly during Arab Spring many of these individuals and their families left Egypt and whilst I know most of these have returned I am not sure they are as high profile.

Cowichan all sounds excellent but this is all about developing a brand new underground mine built around this system with I would suggest direct connection to a national grid. Unfortunately I can't see this system working at Sukari and you need to bear in mind this article is a sales pitch BUT it should not be ignored by the mining industry and hopefully someone will be talking to Muckahi and would suggest they will be at Minexpo Las Vegas later in the year hence the editorial.
Over the years I have seen many many different systems introduced and some of these work when all conditions are aligned but as I say they need to be specifically tailored.
Often such systems lack flexibility but there again there can be instances where they can work alongside another system as I say not to be excluded until it is looked at in detail.

goldgnome many thanks for that it all makes perfect sense and particularly like the "In the bank not the tank" comment in one of the articles. Wonder who it was in the team that instigated this excercise and whether it had been done previously. Whoever it was needs a pat on the back and also will be interested to hear how much gold residue they found.

Sorry not a term that I recognise.

Sotolo we will need to wait until 30th Jan to see the financials.