The following footnote in the 2019 report was interesting
During 2019 the discovery of Horus Deeps was made at Sukari, an exciting target which is located 300 metres below the current underground infrastructure of two high-grade shallow dipping structures. Mineralisation was similarly intersected below the Ptah and Amun zones, indicating that the structure extends to both the north and south. A surface step-out drill programme is underway in 2020, at 250 metre spacing which will tie into the current seismic programme, increasing the resource potential and geological understanding across the tenement.
Endeavour mining boss being investigated for fraud. In that story it is mentioned that Endeavour would not allow CEY access to their non public information as is customary to carry out due diligence. Your offer won't get far if you don't disclose.
Excellent response from Centamin regarding the merger proposal. The following statement fron CEY was interesting and may shed some light on the reluctance to develop the assets in BF at this time. " Centamin's shareholders would have material exposure to the deteriorating operating environment in Burkina Faso, where approximately 44% of Endeavour's attributable resources are located."
Yes Cey is having some problems and the forecast does not look encouraging however, the production figures are on the way up. If you look at some of our peers (Randgold, Hochschild, Acacia) they are all down about 25% on the year just like cey.
2 miners shot dead in BF yesterday. If you look at the news in BF its all killing and terrorist attacks. The country appears unstable and anyone thinking of investing in the country will be aware of this and the consequence of actions that they cannot quantify on a spread sheet.
It as Siko that supplied the weekly gold figures, not CEY.
The mining sector as a whole is down at the moment. Trying to micro manage CEY or guess where this share price is going is being done here out of frustration. (which is understandable) We have had our 1H update and the company appears to be getting back on track running one of the top gold mines in the world.
Personally I feel comfortable owning shares in this company and will continue to do so. I would be surprised if the company did not meet or exceed its guidance for 2018.
I also feel that companies have to tread carefully in many parts of the world. Governments are unstable and unpredictable. We have witnessed this with CEY and Acacia and many other miners around the world.
Thanks Tibbs for the Trump stories. Some very interesting reading.
Of course Somnamna. I have gained much insight over the years from the information (good and bad) flowing thru this bb. I have no sentimental attachment to CEY but I have done well holding shares in this company for the last 7 years. All companies have ups and downs including CEY. As shareholders we should hold them to account and vote for changes in management if necessary to protect our interests.
They admitted that they messed up and are putting things in place to avoid it happening again. There is no need for personal attacks. It is not constructive and doesn't promote healthy intelligent dialogue.
I do not think that anyone using this BB has the right to abuse the management of CEY. If you have an issue relating to the company or feel that a specific person is not competent why not contact them personally . I don't think calling people you don't know self interested, lethargic, uncaring etc. is acceptable behaviour.