Member Info for mrtibbles

Sotolo,
The UK government dare not raise interest rate because the economy is in recession, there are shortages in the supermarkets, energy prices are at all times and the UK economy is buggered due to Brexit!

Hi Dasut,
No need for apologies on explaining the facts as far as you are aware and able on some very complex and important issues which you know about through actual experience, not rumor!
The post concerning "Offshore leaks" is a very old one, so possibly they no longer hold the shares it is claimed they once did.
Usually there is some statement when a director sells their shares orsteps down from the board of a company, neither appear to be easily found in this case.
Most conspiracy theories, rumors or misinformation are a result of poor or non existent communication between the parties concerned and as we are aware such was the case with Centamin in recent years on various issues.
However since the arrival of Martin Horgan and his team there seems to be a desire to bring about genuine open and honest communications with share holders within the constraints of financial market regulations .
That said it wouldn't be in share holders interests to answer some questions that may be commercially or market sensitive especially in an open forum.

Hi Candid,
If you check back through some of the Centamin quarterly presentations in recent years the analysts from RBC Capital Markets and others asked why didn't Centamin produce a three year plan / look forward strategy and if it were possible to produce one, although reluctant due as he explained to the unpredictability of mining (certainly when Andrew Pardey was running the show )he never the less subsequently produced and presented a 3 year plan of sorts.
In all fairness and even allowing for the unpredictable nature of mining this combined with Andrew Pardeys spoofing and his failure of applying sound mining practice at Sukari meant his three year plan turned out to be as reliable as a chocolate teapot and despite our past disappointments we all got kicked in the bal(ls again with production downgraded and a 50% share price hair cut!
After this hings seemed to improve at Sukari as production seemed to be returning to normality and the share price rose aided by the rise in the POG , some brokers were even rating Centam @£2.90 target price, seemed we were at last getting to where we had been promised after so many years of in Pardey speak "Unavoidable & Unexpected events")
However our relief, even elation that there was a chance the good times really had arrived was all dashed in an RNS waning of yes an unexpected fault in a pit wall which due to safety drastically reduced access to the higher grade ore!
So much for a three year plan when it is based on spoof and unsound mining practices!
As to Capital I agree it's onto a nice little earner being awarded contacts by directors of mining companies for drilling lots of holes all over the place and getting paid irrelevant or not if the results or good or bad, compared to the mining company who has to foot the bill irrelevant of whatever the drill bits discovers.
After our experience I question the credibility or reliability of any 3 year plan as far as mining goes and see the absolute priority as getting Sukari producing gold ore on a resalable and sustainable basis.

Re post original by Mr Gnome
11 March 2019-03-11
goldgnome
Posts: 98
Opinion: No Opinion
Price: 96.00
Sun 21:06
Perhaps of interest, I see that Capital Drilling forms strategic partnerships with companies, which includes drilling for equity, which it does for a range of companies. Other drill companies do the same. It may have been a good thing for Centamin at the time to help it get going?
It also is rapidly expanding into West Africa, including Burkina Faso and Cote D’Ivoire. It may of course be a coincidence that that is where Centamin is expanding, and then again it may not be.
http://www.capdrill.com/about-us/strategy

You can see in their 2010 Ann Report "Since late January 2011 there has been some significant political upheaval in Egypt, with the fall of President Hosni Mubarak and the installation of an interim government until democratic elections are held in September this year. It is important to clarify that operations at
Centamin Egypt’s Sukari Gold Project, which accounts for approximately 20% of Capital Drilling’s total rig fleet, were not materially impacted by the upheavals and that development, grade control and exploration drilling continues as per normal. Indeed, it is anticipated that Capital Drilling’s operations in Egypt will see further growth in 2011."

Cont-
Offshore Leaks Centamin directors links to Capital Drilling
https://www.imd.org/research-knowledge/articles/the-four-tiers-of-conflict-of-interest-faced-by-board-directors/
https://offshoreleaks.icij.org/nodes/82006106
https://twitter.com/CapitalDrilling/status/1021939160330817536
Also
https://www.proactiveinvestors.co.uk/companies/news/207814/capital-drilling-lands-contract-renewal-for-centamins-sukari-mine-207814.html

I think questions need to be asked of the in view of the appalling mess up in 2018 on the part of the drilling contractor and the apparent failure of the Sukari i management to mitigate production risk which was brushed off as a "Blip".
It seems both the Cey CEO Josef and Youssef El-Raghy general manger & director of Sukari are both listed as directors of Capital Drilling who provide all over ground drilling at Sukari.So if it appears the major share holders on the management board of Centamin are also major share holders in a Sukari drilling contractor who may have not carried out its duties as efficiently or as well as it should have done considering the ongoing production cuts in production guidance.
From the most recent report on 25th Feb 2019 the Cleopatra incline and the open pit are still not producing the higher grades or the improved output within the timescale share as promised to share holders by Andrew Pardey on behalf of the Centamin board.
This arrangement of Centamin and Capital Drilling being so closely intertwined by way of share ownership and the same senior management on both company boards and being represented to share holders by the same PR representative may be perfectly legal.
But even if this arrangement is perfectly legal then is it really in the best interests of the share holders as there will no doubt be occasions such as in 2018 (the effects of which of which we share holders are still suffering) when there may be a conflict of interests or management may be in a position where a particular situation means their loyalties may be divided?
Is this another example of glossing over a too close connection that may prove to be imprudent between the company and one of is contractors
Capital Drilling In addition to being Centamins main Sukari drilling contractor is also contacted on other mining projects all over West Africa, some of these on Centamin projects and also to other clients.
If as it appears Centamin is a major share holder/part owner in Capital Drilling then how much revenue or dividend is being earned by Centamin and is this shared with the Centamin share holders?
Also are some of these drilling projects being carried out to produce results and future return to Centamin share holders or profit to Capital Drilling ( More Holes drilled more profit to Capital and its share holders?)

Quite So Paul,
Dasut certainly knows his stuff regarding best mining practice and also has the benefit of on the shop floor/or at the pit face experience at Sukari, I certainly set great store on Dasut's opinion on these matters.

Hi Dasut,
Absolutely, nails on the head!, nails on the head!, right and right again!
From a recent conversion I had with a very well informed person I can only agree entirely with your understanding and summing up of the Sukari situation.
Martin regards restoring Sukari to full performance as a priority !
Centamin now has the CEO it deserves to achieve its full potential!

Did you register with Investor Meet?

I believe that halfpenny is an investor rather than a short term trader so even if that were so 3% soon be recovered many times over !

Hi Market, great to hear from you!
You are right about Josef & Pardey they both showed their true allegiances!!

Best

Tibbs

Hi Sotolo,
Will you be putting your questions forward at the Retail Investors Forum tomorrow?

Sorry posted wrong link !
This is the right link
https://uk.finance.yahoo.com/news/ftse-100-live-sterling-focus-064625195.html

FTSE 100 Live: Sterling in focus as stagflation fears stalk UK market
Graeme Evans
Wed, 29 September 2021, 10:08 am
he stagflation fears behind sterling's worst session of the year and the prospect of higher interest rates in the US are likely to lead to another nervy session in London today.

Worries over whether the impact of the fuel crisis is contributing to an outlook of low growth and rising prices left the pound at its lowest point against the US dollar since January.

Corporate highlights of today's session include Next's latest upgrade to profit guidance after it sales performance in the past eight weeks materially exceeded its expectations.
FTSE 100 Live Wednesday

Stagflation risks pressure sterling

Next raises profits outlook

Morrisons auction date set

Sterling stuck at January low

10:08 , Graeme Evans

The stagflation worries blamed by some investors for sterling's worst performance of the year continued today as another surge in natural gas prices added to the jitters.

Fears over the toxic combination of inflation and a stagnating growth outlook have been fuelled by rising oil and gas prices and the possibility the Bank of England may be forced into an earlier than expected rise in interest rates.

Sterling remained at its lowest level since January today, having dropped from around $1.37 on Tuesday morning to $1.35, a level not seen since January 11.

End-of-quarter rebalancing is likely to be part of the reason for the weakness, but the situation comes with natural gas futures up another 5.5% at 218p a therm today and Brent crude close to the $80 a barrel threshold.

A sharp rise in US borrowing costs on expectations for tighter monetary policy also put upward pressure on the US dollar. Wall Street's S&P 500 was down 2% last night on big losses for stocks in high-growth sectors such as semiconductors, media and software.

There was a similar story in Europe, but the FTSE 100 index largely bucked the trend thanks to support from its dollar-earning stocks. The blue-chip index fell 0.5% last night but was up 63.63 points to 7,091.73 after Next's bullish interim results helped sentiment.

US-focused building supplies firm Ferguson posted the biggest rise, up 295p to 10,530p, while there was buying in mining after Anglo American and Glencore added more than 2%.

Royal Mail was the biggest faller after analysts at UBS scrapped their “buy” recommendation and downgraded their price target from 590p to 440p.

Their caution reflects the impact of increasing cost pressures at a time when the pricing power in the industry is likely to decline as more parcel sortation capacity is added in 2022.

Shares were above 600p in June but fell 5% or 26.4p to 452.8p after the downgrade.

https://www.lse.co.uk/ShareChat.asp?ShareTicker=CEY&share=Centamin-PLC&thread=94501523-2730-4AC5-8B10-41F10BC2610D&reply=true

Austerity
During the period of austerity that followed the 2008 economic crash, the Department of Health and Social Care budget continued to grow but at a slower pace than in previous years. Budgets rose by 1.4 per cent each year on average (adjusting for inflation) in the 10 years between 2009/10 to 2018/19, compared to the 3.7 per cent average rises since the NHS was established.
https://www.kingsfund.org.uk/projects/nhs-in-a-nutshell/nhs-budget
https://www.theguardian.com/books/2016/dec/08/uk-library-budgets-fall-by-25m-in-a-year
https://fullfact.org/health/spending-english-nhs/
https://cpag.org.uk/sites/default/files/files/Austerity%20Generation%20FINAL.pdf

Quite agree Mr Gnome,
In the past all big companies handled their own transport and distribution, they had their own fleet and maintenance facilities, they hired and also trained their own drivers and there was a two way commitment between company and employee.
Then in the quest cut costs and increase profits companies sacked their own staff to use so called logistics specialists. usually shi(ts who just use agencies to supply their staff as and when!
Now the drivers have to pay for HGV training and are regarded he logistics companies as part of the truck rather than a person!
Exactly the same has happened with public transport all over the UK as a result of Nicolas Ridley's deregulation in the eighties under Thatcher which resulted in the asset stripping of municipal and publicly bus and rail companies and also because it was a way of getting at the unions and cutting staff pay and conditions of employment!
Most of this present chaos has been brought about by the free markets asset stripping policies of the Conservative party
Thatcher bribed voters with 40% discounts on buying council houses and sold the public services & utilities to the public who failed to understand they were buying what they already owned!
The answer is to renationalise all the power utilities,water companies public transport,start building local authority owned social housing and make the big tech,Facebook, Google and other international companies like Amazon, Starbucks, McDonalds, etc that are behaving like parasites start paying the right amount of tax, or kick them out!
The private sector and certainly the Tory government has now proven they not to be trusted or capable when it comes to providing essential and public services!

Hi Dasut,
From a recent conversion I had with an exceptionally well informed person I would say there is as much chance of finding rocking horse poo as Centamin bidding for Capital!
There is no chance of any of the £300 million being spent on anything like this because as you rightly point out there is no need or any sound business reason to do so.

Hi Mr Bond,
Exactly that, its the opinion amongst wholesale traders that there is a type of unofficial amnesty until early next year for the Comex clearing bank's to cover their unallocated open paper positions for fear of the consequences to the sector and the markets of just pulling the rug out from under their feet!

Wiscos,
It's like college lecture, although at the beginning subject matter may seem boring or irrelevant to get any real benefit one has to listen through to the the end, these broadcast's need to be watched just like a series of college lectures,because each one leads into the next and so on.
To be fair to Andrew he did explain a while back in an early broadcast that the positive effects of Basel 3 on POG wouldn't happen over night, but that there would be an initial phase of the POG being suppressed as clearing banks and BIS attempt to unwind a substantial amount of paper positions, exactly what is happening now.
You may be aware of the silver price & gold price ratio , hence the subjects covered in this broadcast.

Hi Wiscos,
Perhaps you would care to explain the rational to back up your opinion on considering by your own admission you only watched for a while?
Possibly you have some understanding of the situation that is contrary to Andrews conclusions on why POG is being suppressed and the effect that Basel 3 may have on the POG in 2022 that you are able to present to us?
Did you find the recent Capital Markets Geology presentation of interest?