Member Info for DASUT

I have done a bit of checking and appears as of sometime earlier in the year so suggest prior to licence expiry my contact tells me the Environmental Impact Study was submitted to the Cote D'Ivoire Government for approval and permitting so the ball would be back in the court of the Ministry. Unfortunately my contact isn't aware if there has been a formal response from the Ministry, so rather than fear the worse I will wait to see the results of the DFS which I suggest will be dependent on the approval and permitting.

Cowichan what I will say is it 6th November 2024? If so it hasn't expired.

Mhendersen thanks for your somewhat intriguing response and can assure you I was only trying to clarify the truth relating to the rumour.

The problem that I have is that I am retired and therefore no longer in a position of getting on a plane and visiting the mine to fully appreciate the goings on.

I still question what does the $100 million relate to and believe me I am not easily surprised when it comes to political partners in any business.

Legality issues of employment are you saying that it refers to expatriate quotas being stretched because this is always a worry?

Good to hear from you

Cowichan Early days but if there was an issue between Centamin and EMRA I don't think Horgan and Tarek El Molla would both have their photo each with a short encouraging statement on the Egypt Mining Forum web site.

Cowichan Montage Gold and Kone Project write up seems to be a positive advert for Cote D'Ivoire and Kone Project Capex spend whilst a large increase seems the way to go as it speeds up the recovery and pay back. Obviously only shows an Executive summary on their web site and would need to have more detail in the mine plan but sound as though they can justify their additional upfront capex. Hopefully Centamin can do the same at Doropo, time will tell.

Let's wait until we see the DFS which is due very soon, hopefully mention will be made at the same time as half year numbers. Looks to be a pretty straight forward project and getting the cap ex numbers should also look pretty straight forward to put together.

Why sell it when it is becoming more and more difficult to find resource?

Tibbs, Capital will be on site because they have the drilling contracts which is their strength doesn't mean they will be on site with trucks and shovels unless your contact knows otherwise.

Tibbs, What did Aton do to upset you? This is a typical junior mining house these are the guys who go out and find a resource. They aren't hurting anyone and certainly not "Pyramid". They are currently funded by grown up backers not the likes of a large quantity of retail investors.

The majors and the likes will be looking and doing due diligence to check out the numbers.

Worth keeping an eye on the possible opportunity.

Steve sorry mate it has been a long day.

Siko, Yes I know how lucky I am because as I say I have lived, worked and travelled Africa over many years, including Egypt. The problem is what needs to be done to make improvements for so many people and how to make the changes. We can only do what we can do and I have over the years supported an orphanage in Tanzania and whilst no longer directly involved they do still get support from my previous employer.

Do you still have a fund raising web site for your efforts?

Steve it isn't my intention to debunk anyone I am a long term investor and as such I am only interested in Centamin being successful because their success means we will in the long term also benefit. It is so easy to criticize and I have been someone who has been p___d off with some of the previous nonsense but as I have said many times you can't change history but you can learn from past mistakes. Horgan and his team have taken some decisions that hurt but in my opinion are necessary. Again I repeat what I have said before the proof in these decisions will be proven or otherwise by the end of this year.

The above said if there is a worry such as raised by Cowichan it needs to be answered or explained and nobody could provide an explanation to me that made any sense hence the need to ask the question of Centamin.

Tibbs we have a forum that is hopefully interested in the success of Centamin.

If Cowichan can't get an answer to his questions there isn't only one avenue open to him. Why not just ask one of us to ask the question?

I have never had a problem asking a question but to get an answer which I find as acceptable to then be used by Cowichan in the way he has on his Linkedin account I find totally incorrect and could spoil the relationship that I have developed with Centamin. As far as I am aware he doesn't even own any Centamin shares so what's with the unsubstantiated posts?

Rebess the mine has so much resource at the end of the day the extraction will average out. Centamin were up on forecast then down on forecast but whilst I haven't checked the numbers I think it will likely average out. I have a bit on at the moment but will revisit.

Cowichan I forgot to mention in future never demand me to do something especially prior to a set time.

As I say before posting rumours ask the question of Centamin yourself.

So Cowichan I can understand why you struggle to get responses from Centamin as I have just looked at your LinkedIn page and it isn't at the top of your profile it is being used to aggressively attack Centamin and Richard Foy who is doing his job.

As a non shareholder perhaps you can explain why you have an agenda aimed at Centamin or for that matter anything related to Egypt.

Siko has explained succinctly why the rumours that Egypt Central Bank would struggle to rack up debts of $100 million.

I wouldn't be surprised if Centamin just ignore your Linkedin post.

Clued it really wasn't hard work I just emailed the questions one evening and the following day I received an answer. Likewise with the follow up questions the responses were pretty much by return.

Siko great to hear from you and as I said early on when trying to find out the source of this news I was confused how such sums could be arrived at. Thanks for your input always well received.

Tell me you have been helping the under privileged in Egypt for many years is it getting worse or does there appear to be some stability at ground level?

I have worked in African countries under both civilian and military rule both with mixed experiences.

The mention to Capital Fleet is because there was another rumour that Centamin were entering into another contract with Capital so I asked if it was true.

Hopefully you will all appreciate that I am not a liar and am only looking for the truth and suggest in future all rumours are substantiated with source details not supposition.

It is very easy to get answers from Centamin so in future ask before posting. Thanks

This is the additional dialogue relating to the Central Bank because I asked for more detail relating to Egypt Central Bank purchases as Richard pretty much said all sales made outside of Egypt but I knew that Central Bank bought gold hence the clarification below: -

I can’t comment on what has been said previously. All gold from Sukari is sold to the refiner, MKS PAMP. The Egyptian Central Bank purchase gold from MKS PAMP and we effectively act as a broker for them for their gold purchases with all purchases paid in advance. Therefore no multi million dollar outstanding balance can accrue, there can sometimes be small FX true ups but these are typically less than US$50k and settled once the gold is purchased. 

As a listed company we publish our liquidity position quarterly and any overdue amount would be visible as accounts receivable amount. We typically close a period with $15 - $30m in ‘gold sales receivable’ (depending on sales and price) this is payment due from the refiner MKS PAMP not the Egyptian Central Bank.

Hopefully that clarifies the question from contributor.

Best,

Richard.