Member Info for DASUT

It does seem that the 2nd quarter trend is continuing with a high strip ratio in the pit and the grades haven't improved enough to offset the high waste to ore.
Pity I was hoping given the forecast for improvements in 2nd half that they would be into higher grades by now.
A throw away comment is September improving, so guess we will need to wait until we see a detailed breakdown of production before we see any trends.
Seems that the dig is also a bit tricky as they reach underground workings/voids the deeper the pit gets and I can't see this getting easier.
Good to see that they are already into preparing for phase 5 so not high grading but taking it on the chin now for future gains.
Hopefully we will still see some good financials on the back of improved GP.

Tiger, Trump is a somewhat successful business man so I understand, so maybe he is going in the right direction.
Hot money is drawn to currencies with the highest interest rates, so the dollar will or should suffer if interest rates are cut to zero but this is something he quite likes as he wants to be competitive with US exports.
I have read many times that gold will hit $2,000 but got a feeling that if Trump has his way a good proportion of Hot money could well find it's way to gold and/or "K", and who knows we could be dusting off the gold flip flops, especially if we get good news from management early next month.

Tibb's yes quite well and busy doing DIY at daughters house making ready for sale, actually quite like doing bits and pieces. I do keep in touch with the board pretty much most days but to be honest not a great deal to contribute until maybe next round of results. Hopeful that we won't be going backwards as based on the equipment fleet there shouldn't be an issue moving the tonnes BUT as I said with previous results at what cost given tonnage going to the dump (waste) compared to the money earning ore that goes to the plant? This said the SP will primarily be influenced by ounces and balance sheet will I am sure look healthy given GP over recent times. Let's hope that all is good and that no news is good news.

Wow mitigating risks in mining I really don't think this is possible given the saying "Anything can happen in the next half hour". Bad blast, power failure, lower grades/higher strip ratio, bad communication waste to plant and ore to dump, high wall slip, pit flooding, equipment failure , labour issues, mineral price and the list can go on and on.
Ok split risk over different mining companies in different areas of the world, also split to different minerals but really difficult to mitigate risk.

Next Financials are 23rd October whether there will be an update on production performance prior to this isn't clear, but hope good news will be fed to the market sometime early October.

Rebess Time will tell as to whether we see some known exploration/junior mining companies entering the Egyptian market.
I would suggest Centamin will look at some opportunities that they may have had their eyes on.
Doubt we will see the majors rocking up BUT they will be watching developments and if and when the smaller entities start to find something that looks promising, the mid size and majors could start to get involved with funding and support in return for percentage holdings in the project(s), to help bring the resource to a viable going concern.
Many exploration/juniors have previous relationships/agreements and act as the advance guard in fresh markets for the larger mining houses, so it looks exciting BUT very early days and doubt very much that we will see any serious developments for sometime yet.
Caveat to this is unless something has been sat on for a while waiting for a better investment climate.
What could also happen is individuals/small inexperienced companies usually indigenous, believing mining exploration is easy and causing delays and also causing damage to the resource rather than adding value.
As I say early days but sounds like a step in the right direction.
Sorry for the late response but have spent the day hitting a ball around a golf course.

Emkaybee I hope you find Supercharger's words of encouragement of some consolation because quite honestly these sort of inane self righteous comments are not of any help whatsoever.
Supercharger I do not need to be creative as I am retired from what was a long and interesting career but this doesn't make me less interested in the problems others like Emkaybee are suffering because of inept politicians.

Supercharger I agree fully regarding the lack of any alternative BUT it doesn't stop me worrying about the consequences as explained from a very personal stand point by Emkaybee.
If we leave without a deal we will be in a very weak position and having negotiated many contracts in my time being in a weak position can be expensive.
We are the 5th largest economy in the world BUT is this because we have overseas investors manufacturing and operating their companies in the UK because they can then trade into Europe and associate countries free of any incumbencies such as duties with freedom of movement of personnel?
I wonder how tight the deals are that we have with other countries such as USA, Japan etc and how quickly they could change if we don't have some sort of a deal with Europe?
I heard that the deal with the USA is verbal with Trump and seriously questioned by others in USA (including large manufacturers) as to why provide advantageous terms to the UK and not the same or better to a larger wealthier EU, must admit I have asked the same question myself and not just of the USA deal.

Emkaybee I am really sorry to hear of the threat to your job and the impact it will have on yours and your daughters lives.
Your company will be like many other overseas investor and indigenous companies currently in limbo as it isn't because the UK is a lovely country to live and work in or the size of the UK market that dictates companies to invest it is about the business climate in total. The prime reason being the springboard into the European market and affiliate counties that trade under BTN tariffs.
Companies that are not competitive because of outside influences such as duties will change their strategy to become competitive this is why yours and many others established their businesses here in the first place.
You hit the nail on the head when you say "no understanding of the consequences", as unfortunately so called Head Office professional politicians are all to often in this situation.
Politicians remit it is govern on our behalf that is why they are elected.
Also our MEPS are elected into the club that we are members of and have votes to change or modify the rules and constitution.They didn't do a good job and as such the people were asked if we still want to be a member of the club.
Problem is nobody governing our country seemed to have any clue of the consequences if we left the club and couldn't play on the same terms again.
Now because of the total lack of due diligence by people elected and paid by us we are blustering into a position of weakness if we don't achieve a meaningful deal.
I don't normally reply to political postings but yours is a real life consequence that is due entirely to a catalogue of incompetence by our politicians be they MP's or MEP's.
As you say it isn't about ideologies whether we leave or remain in the club it is about the consequences and the vote either way was made on the lack of knowledge regarding the consequences.
All because of incompetent so called Head Office Politicians.

Rebess as I say I am fascinated because most of my career as you possibly know by now was involved with developing countries and convertible currencies are few and far between. So to trade with such countries there was the need to work with hard currencies such as dollars, sterling etc.
Given gold, silver, manganese, bauxite, copper etc is primarily traded in US dollars this became pretty much the norm for pretty much all of our business transactions to minimise exchange risks.
So I like the idea of another currency that is linked to gold as this could provide an alternative to those developing countries that have to basically take currency risks into account every time they enter into a trade.
A considerable percentage of minerals worldwide is extracted from countries without readily convertible currencies so those marketing K will I am sure be targeting them to join the revolution.

Rebess your K is fascinating back to the "gold standard" so how much gold do you think will need to be purchased to underwrite their activities?

I like what I am seeing but this is all on the back of GP now we could do with a small snippet of good news from management maybe along the lines of increased resource, to get us back to where we were before the bad news last year.
Better would be a drip feed of good news similar to the early days when they were developing the mine at Sukari.
Am I tempting providence as maybe no news is good news?

Tibbs exactly my sentiments as we have to retire sometime.

Not sure I follow this merger as Intrepid don't appear to be worth an awful lot and think their shares maybe worth less than AIC. However Josef or more importantly his dad Sami will know the area very well so certainly worth a watch.
Will be more interesting to me if they look at AIM's listing.

Tom I do hope you are wrong as I feel we are seeing a correction supported by GP hike. Currently don't see any major reason for a GP fall to justify SP to fall to 120 let alone 115.

Repression Really depends on which country we are talking about as many countries make up West Africa. Political stability is never brilliant. Ghana currently looks good albeit in my early days of travel in the country particularly 1980's there were regular unpleasant coups , Ivory Coast I am never sure about when I lived in West Africa back in the 1970's Abidjan was thought to be an extension of France and some of the long term senior expats would holiday there but it has had it's troubles but looks to have come through them. There again back then Beirut was also a favourite holiday resort Ski in the morning and swim in the sea in the afternoon. So difficult to predict stability in any developing areas of the world.
Burkina is having it's issues due to outside influences similar to Nigeria but my old company has survived and prospered operating in West and East Africa for many years.
Mining companies working in West Africa are numerous including the big guys like Newmont, Barrick, Rand Gold, Anglogold Ashanti, Goldfields, Resolute and the list goes on.
The problem with mining is that there are seldom any new resources that come without significant risk and not just political. Climate, health, education, transport,power or the lack of power etc.
Another reason for patience as Centamin will need to ensure they can take all of the steps necessary to minimise risk.

Tibbs like you I hope we will see Cey get to above the 170's even 200 and this is certainly possible if there is an announcement of a significant resource elsewhere. In addition to your comments much will depend on the next qtr results which will I am sure be good given the price of gold but will there be a "could do better" comment relating to ounces mined compared with costs incurred. Maybe need to take a look at past production numbers to see how feasible projected ounces is to achieve.

Adobe Love it good old Bloomberg stating the obvious maybe the name Anglogold Ashanti gave them the clue. Ashanti is Ghanaian and maybe this also has something to do with their focus especially as Ashanti Gold have operated at Obuasi (plus other mines) since forever. As for Goldfields they have been operating in Tarkwa Ghana for many years now long before I retired in 2008 and are great company to deal with. You are correct once Centamin get to operating mines in West Africa there will be a significant upward move in the SP. However investors will need to be extremely patient because I don't see this happening for another couple of years. OK they might announce that they have the resource to make a move to mining somewhat earlier but actually going operational even if they said go today would be at least mid 2020 before processing. Caveat to this however is if they go simple heap leach having sufficient oxide ores and use a contractor already operating in West Africa to open up the resource and then it could be considerably quicker if that is they can find a contractor with surplus equipment of the right spec to mobilise quickly. This I would suggest would work very well as there are many International and local contractors that have experience of such projects. This would enable Centamin to get into cash flow grow into the resource and make plans as to the location, type and size of a processing plant as they develop into the various ore types. This is pretty much how all of the start up mines in West Africa have developed since the mid 1990's.

Mizolgit Yes agreed good year end numbers are certainly what we are all interested in BUT share price will still be impacted by whatever numbers are provided at the end of the 3rd Quarter.
Additional good numbers for 4th quarter will be impacting on previous increases from 3rd quarter like Compound Interest over and above Simple interest.
It is of major importance that we see a trend of improved grades in the 3rd Qtr to lessen the impact of the higher strip ratio and as such the next quarter will hopefully show us the direction and give us confidence that we are on the right track because as of end first half as far as I am concerned improvements are only marginally better than last year except quite obviously the excellent Gold Price.

Thanks Tibbs I hope we see the benefits of lessons learned with the next quarter results as although we saw improvements in the first half of this year I am not as impressed as I had hoped I would be.