Member Info for mrtibbles

Hi Siko,

My point was Centamin is already in an equal partnership with EMRA so you might say it's now 50% nationalised and at present until someone else develops a producing mine then Sukari is the Egyptian mining industry,

I see nothing wrong in a member making other members aware of the media posts or debating different opinions on what may or may not be the outcome of such news.

If Mr Bond and any one else chooses to get all worked up about another members posts of some media publications and rumours regarding Russia expressing an interest cultivating business partnerships with Eygpt then that's their affair.

How long has this forum been discussing and debating media posts and rumours in Eygpt and what difference did it ever make to the outcome, not a jot, and neither will it this time, or in the future.

Because there was comment regarding the over generousness of the 50% plus royalties profit share to the Eygptian government in comparison to the British governments levied 74% taxation on North Sea oil and gas companies.

Although it's a bit more involved than that because the last government gave the oil and gas exploration companies generous tax breaks to compensate which is why I posted the link to the relevant government office papers.

However with election of a new government this may well change again over the next term.

Possibly if you were more inclined pay more attention to the subject matter of the post in relation to previous the post/comment by another member before launching into criticism of my post then you may see the relevance.

I realise that some members are here just to try and glean some snippets of information on Centamin to give them a trading edge for free, but in general they are wasting their time because they are unlikely to find such information as that would be breaking the rules of the FCA and this forum.

Also it would be very unwise to take any comments or opinions posted on here as trading advice as trading advice as none of this members are registered financial advisors and even if they were they would be breaking the forum rules by trying to influence members trading decisions.

What happens on this forum and the volumes of share bought and sold is in the main are inconsequential in the scale of things because the Centamin management couldn't really care a jot about the views of bunch of retail traders, although they may go through the motions at times to give the impression to the contrary!

That said far better just to regard this forum as a place to have an exchange of opinion and pick up a bit of knowledge about Centamin, gold and on all manner of other subjects.

What will be will be and we are where we are until the situation changes one way or the other!

Goldinvestor

The thread on possible nationalisation or possibly EMRA being replaced with another body to work on behalf of Egypt by Sisi was started by Cowichan, but the reality is that the mine is run in partnership with EMRA so already part the way there in some respects.

Who can be sure what might or might not happen?

Cowichan blew you cover Mr Bond, tee hee!

Then if the mine is so profitable why is the share price in the bargain bucket and the dividends so derisory?

Of course it may be because the company has still to prove its trustworthiness and credibility to the market.

So I'm waiting!

Bit more than a few years ago Mr Bond, 2010 actually .

Fraud indeed, If you recall Mr Bond it was Andrew Pardey who was a fraud, he lied to investors from 2015 onwards about the true state of Sukari and pumped up the production guidance by high grading and failing to implement any fit for purpose waste clearance which led to a near catastrophe in the open pit!

Now come Mr Bond why don't you come clean about why you are so reluctant to ever criticise or question the Centamin management?

Cowichan sussed your double posting identity out so why should anyone believe you?

As I have always stated anyone can be whomsoever they wish to be in open forums such as these and there is absolutely no point in publishing the number of shares a member may or may not own.

In a special programme, Myra Anubi is in Nairobi, Kenya at the final of the Africa Prize for Engineering Innovation which rewards the best new innovators on the continent. Their exciting solutions deal with access to healthcare, plastic recycling, waste disposal and pest detection. She meets the finalists and finds out which one of them has walked away with the £50,000 prize.

https://www.bbc.co.uk/programmes/w3ct5tw4

https://www.bbc.co.uk/programmes/p04d42vf/episodes/player

I agree R1234, unfortunately the ordinary people of Africa haven't benefited from gaining independence from colonial rule because they are ruled their own politicians who are even more corrupt and greedy who are so busy filling their own pockets they have completely forgotten that they are there to serve their people, not to rob them!

R1234 referred to the taxation on oil and gas to the Sukari/EMRA agreement that was the point.

Incidently I have sympathy for the vast majority of oil and gas for the way oil and gas companies who waste so much energy by flaring which contributes CO2 to global warming !

23 September 2021

Gas flaring is increasingly recognised as a major source of economic and environmental waste. Flaring, which sits alongside “venting” and “leaking”, leads globally to the annual loss of at least $30 billion of valuable product, plus generates 1.2 billion CO2-equivalent tonnes of greenhouse gas emissions – that’s 1.5 times those of airlines.

https://flareintel.com/insights/how-the-eus-cbam-will-impact-energy-imports-from-countries-that-flare-gas

Ukraine is smouldering. The EU is paying a fortune to import LNG. Yet the global oil and gas industry is still flaring off as much gas as the EU buys from Russia each year.

Seb Kennedy May 18, 2022

New data from the World Bank reveals that worldwide gas flaring rose marginally to 143 billion cubic metres (bcm) last year. That equates to roughly 93% of Europe’s gas purchases from Russia. Another way to look at it is that those 143bcm could have generated some 1,800 terawatt-hours (TWh) of electricity, almost two-thirds of the EU’s net domestic power generation, according to the World Bank.

https://www.lse.co.uk/ShareChat.html?ShareTicker=CEY&share=Centamin-PLC&thread=2B68136C-DD50-4C4D-88B1-A7A86F8BB4A2&reply=true

How much money have energy firms been making?

BP made $13.8bn (£11bn) in 2023, down from the record $27.7bn in 2022.

Shell profits were $28.2bn (£22.3bn) in 2023, down from $39.9bn in 2022 - the highest earnings in its 115-year history.

BP says its UK businesses account for less than 10% of global profits, while Shell makes about 5% of its revenue in the UK.

British Gas profits for 2023 increased 10-fold to £750m.

https://www.bbc.co.uk/news/business-60295177

Mr Booth, the Sukari operation has proven to have been some consider more than generous to the Egyptian government who never invested any money towards the development and creation of the mine but now due to all CAPEX being covered now takes 50% of profit share and will own all the infrastructure and plant once Sukari is played out, so it seems through the partnership with EMRA that the operation may be regarded as already 50% nationalised.

So as you point out in effect it's whether there would be any appetite on the part of the Egyptian government to risk upsetting the existing pool of potential international investment by taking the other 50%.

Whether it was just coincidence or EMRA giving Centamin a commercial advantaged that would also benefit both parties remains too be seen and of course have to be proven by those mining concession bidders who may feel cheated.

Who can be sure though whether Sisi would be too concerned about upsetting existing foreign investors if former old allies and other BRICS members were willing to step in with more beneficial terms for Eygpt.

If you think about it Sukari is already 50% nationalised and the word is that during a recent meeting between Sisi and a visiting president ideas of how to maximise Egypt's revenue from its gold sector were amongst the issues discussed.

Hi Razors,

Good point, how can anyone doubt these days that the POG and just about every other commodity price the world over isnt controlled and manipulated by the FED cartel and Wall Street.

Trump banging his drum about making America great again and how does he propose achieving this this by Wall Street controlling the markets prices and exploiting the rest of the worlds cheap labour and then imposing punitive trade tariffs, no wonder other countries get pi**ed off!

Kitco

Gold finally shook itself out of its summer doldrums this week, as weak employment data helped the yellow metal rocket out of its recent holding pattern as it once again approached the $2400 price level.

https://www.kitco.com/news/article/2024-07-05/wall-street-sees-green-lights-gold-next-week-main-street-jumps-back-bullish

5 Jul 2024

In this week’s episode of Live from the Vault, Andrew Maguire is joined by returning guest Peter Grandich, author and former Head of Investment Strategy for a leading New York Stock Exchange firm.

The precious metals experts open with an overview of gold price manipulation and the mining space, before discussing the impact of Bitcoin, BRICS and the changing global order; they close with how Peter would weigh gold and silver in a portfolio.

https://tinyurl.com/2brzw8ar

Hi 3Bear,

Thank you, If it was Rick actually assessing your portfolio which I doubt very much, as it was likely delegated or done by a computor algorithm , also as Rick Rule isn't likely to be familiar with the Sukari operation or it's geology then it would be most interesting to know what criteria his conclusion on Centamin was based upon.

I suspect Rick is as knowledgable on Sukari as the man in the moon!

You will likely be receiving some follow up's from Rick's free service in the future, these free assessments of portfolios are often used to reel in potential clients!

Hi 3bear,

When did Rick state this?

How knowledgeable is Rick about Sukari ?

From past experience when Andrew Pardey was less than truthful from 2015 onwards with Centamin shareholders about the Sukari open pit grades which he glossed over by excessive high grading and failing carry out appropriate waste clearance which nearly brought about a pit wall collapse.

This brought about a severe cut in production, a halving of share price and dividend with a 4 year waste clearance contract with Capital costing over $400 million to try and make Sukari safe and workable .

However deceiving shareholders doesn't mean you can't be lucky with a project!

But that said looking at these results they are far from having made an attractive discovery!

The red outlines has a strike length less than 500 m. and looking at the cross sections, they have not made the case that the average grade within the red and green outlines are economical?

Also the short intercepts cannot be mined selectively!

So very early days indeed and any potential investor would be wise to be very wary of any claims that Andrew Pardey makes!

"Managing Director Andrew Pardey, said:

“With PDI’s PFS outlining attractive optimisation opportunities from further resource development work, we have renewed our focus on this as we move forward with the early stages of our DFS field work.”

“The initial results at BC are very encouraging and confirm there is potential to upgrade Inferred Mineral Resources just below the PFS pit designs, which could ultimately lead to an increase in the current 207Koz BC Ore Reserve.1

Encouragingly, drilling also encountered positive intercepts outside the overall Mineral Resource estimate.”

“We are also pleased to advance the 800W and SB targets from exploration to resource development drilling.”

Also FYI, CAPD have around a £1.8m investment in Firefinch. Firefinch are to be delisted from the ASX due to the shares having been suspended from quotation for 2 years due to the difficulties with its resource in Mali.

Counter-intuitively, this situation looks good for CAPD, as Firefinch's assets of the Morila mine and its 17.6% stake in Leo Lithium are being sold/distributed and should result in a decent payout for CAPD:

Https://cdn-api.markitdigital.com/apiman-gateway/ASX/asx-research/1.0/file/2924-02821860-6A1213364

The Nasser model

Putin was one of the early supporters of his fellow Egyptian autocrat even before Sisi officially became president in 2014, but Cairo-Moscow ties have always been dominated by mutual interests.

Sisi seems to have learned from the best by following in the footsteps of late President Gamal Abdel-Nasser who had sought the help of the then-Soviet Union, led by Russia, in the 1950s and 1960s to back Egypt against US dominance and the country’s war with Israel.

https://www.newarab.com/analysis/how-egypt-russia-ties-continue-evolve-against-all-odds

CBS News 24/7 is the premier anchored streaming news service from CBS News and Stations that is available free to everyone with access to the internet and is the destination for breaking news, live events, original reporting and storytelling, and programs from CBS News and Stations' top anchors and correspondents working locally, nationally and around the globe. It is available on more than 30 platforms across mobile, desktop and connected TVs for free, as well as CBSNews.com and Paramount+ and live in 91 countries.

https://www.youtube.com/watch?v=pfZza2inBo8