Member Info for mrtibbles

Fantastic Spindler, it was all about the real gold in the westerns!

https://www.youtube.com/watch?v=ubVc2MQwMkg
https://www.youtube.com/watch?v=enuOArEfqGo
But then High Noon is all about real integrity and also how fickle are the masses!
(This was the first film in real time)
https://www.youtube.com/watch?v=7MooNISe8aM
Very appropriate in these times!
https://www.youtube.com/watch?v=E7_BpvWDZy8
On the subject of showmen!
https://www.youtube.com/watch?v=MICPyrnGYwg

Tibbs

Hi Afur,
I enjoyed your post's, thank you.
Nigel Farage is no fool, but he is just as devious as the other politicians, he really only cares about Nigel, but he came up with a package just as full in inaccuracies, flawed information and prejudices that hit the right buttons at that time, it appealed to those that feel ignored ,frustrated feel powerless but wanted to rebel against what they saw as a political elite out of touch with ordinary people.
Even Nigel has left his original party, not quite sure what he is in now, that's how committed he is and despite all his claims prior to Brexit he is now denying that he ever said that the people would be better off!
To be fair the media like Farage & Boris for their showmanship and celebrity status, not because they have integrity or really offer any solutions, or better ways forward, quite the contrary as will be proven as time goes on, but never mind even that will provide good controversial headlines for the media!

Hi Spindler,
In hindsight possibly I was over generous as to the integrity and genuine nature of the of so many of our political elite!
As to Ant & Deck and your summing up of the the quality of the TV pumped out , you are absolutely spot on!

Hi Afur, I really do hope this is the start of some infighting in the Tory party, they really are so astute at back stabbing their political colleagues in order to get further up the greasy political pole before bailing out into the private sector where they forget all their political principles of serving their country and the electorate in exchange for a seat on the top table and all the extra's that go with it!
The O'Jays - Back Stabbers (Ruud's Extended Mix)
https://www.youtube.com/watch?v=Gnm6EdMVllc
Everybody knows the boat is leaking, everybody knows the capitation lied!
https://www.youtube.com/watch?v=T4rf7bAApM4
https://www.youtube.com/watch?v=Lin-a2lTelg

Thank you Afur for your confidence in my sincerity, it's not for me to advise anyone on investment decisions, my interest in Kinesis is that I see it as a way of fighting the gold price manipulation and so ultimately supporting fair gold and silver prices, which in turn will support any investment in Centamin.
I have known Andrew Maguire for a number of years and he is a very decent chap of great integrity who has never tried to get me to trade in gold or invest in Kinesis.

Best

Tibbs

I agree with your views about some of those pushing gold /silver and so many of those brokers that are really interested in getting investors to trade as many times in any period as they can.
Most people who knows Andrew Maguire would tell you he is s a very decent chap, he certainly doesn't con anyone, neither does he push gold sales ,although he does offer a subscription daily bulletin service that gives subscribers wholesalers insights into the possible markets movements for next trading session.
It's easy to criticise Andrew, but consider he has been up against for years, the BIS and the Cartel who have privileged information before everyone else and the advantage of being able to create unlimited buy or sell paper oder's at will to wipe out any physical correction that they don't want.
But Basel 3 will bring about great changes and the carpet bombing of paper contacts won't be possible for much longer, the LBMA has dug itself into a huge pit which ift may not get out of even with it's deferment of conforming with Basel 3 until Jan 2022.
As far as Kinesis is concerned the physical gold to back it up is held in their new Swiss audited vault and investors can elect to have their physical gold delivered on demand

Thank you Chriss,
My compliments and good wishes to your wife, please assure her that I'm not too old and haven't given up yet, although I despair at the actions of some of the worlds so called leaders and governments, but I am given hope by the ongoing work and achievements of those organisations and individuals that are striving to save the planet for us, future generations and all its other inhabitants.

Hi Lynny,
I Have sat on both sides of the table as a TGWU union officer and then as a senior local government officer and I can assure you I never whined whichever side of the table I was sitting on, after my promotion my chief officer remarked that I was on their side now, I replied that i was on the side of the truth, treating people fairly and decently and what was right, he laughed, slapped ,me on the back and said I told them that a leopard never changes it's spots, well I didn't and have no intention off doing so now.
I have strong opinions and t's no good ****ing down my back and trying to tell me it's raining, but that is not to say that I won't listen to the other side, if they can put forward a reasonable argument as to why I should consider changing my view or opinion, or even agreeing on a compromise.
I'm still waiting to hear what advantages have really been gained by leaving the EU and why our present government is fit for office when the prime minister seems incapable of telling the truth and his cabinet behave like a bunch of shysters who are intent on making whatever personal fortunes they can out of exploiting their privileged positions of office,
Everyone is entitled to their opinion or point of view, unfortunately some people are unable or reluctant to do their own proper research or seek information from a variety of sources, but instead put on their union jack specs and swallow copies amounts of tabloid biased propaganda on which to form their misguided or biased opinion.
Not that I make any assumptions or accusations regarding any members on this forum who may or may not read the Express, possibly even support the present government, Billy Liar Boris or his mate Lying Farage.

Still great that Centamin appears to be making a come back!

In this episode, Andrew Maguire explains the market forces behind the recent gold and silver rally and sheds light on the extremely bullish open interest structure of the latest COT report.
The precious metals expert explores the significance of China’s move to open up gold imports and the huge implications for the LBMA and the price of gold.
With a rallying cry to the precious metals community, Andrew Maguire calls upon everyone to join the global movement and buy physical silver on May 1st - cranking up the pressure on the already-strained paper markets.

00:00? Start
01:15? Basell III looms
06:49? Official exit short positions into rally
10:17? CTO report and unallocated position squaring = bullish
15:00? What’s behind the gold and silver rally?
18:19? Bullish footprints short term and long term
21:04? Major drivers for gold this year
29:11? China makes power play again LBMA - is the price containment game up?
36:43? Silver stackers unite! Join the silver raid - May 1st

https://www.youtube.com/watch?v=HC6t4BrWMls

Absolutely agree Spindler with your opinions and your thoughts on the how the governments have reacted to the pandemic, you are quite right they are so desperate to be seen to do something anything ,as long as they can avoid blame by the tabloid media and Facebook of being responsible for someones death that may result in them being kicked off the parliamentary gravy chain!
Of course nobody really knows how effective or what could be the long term effects of these vaccinations that have no doubt been injected into countless laboratory animals during testing the results of which are in the main completely unreliable or less than useless!
In the meantime the pandemic has provided an opportunity to hide the failures of our present government and an opportunity to push through normally unacceptable draconian laws and measure's that deny so many people their civil liberties, freedom of movement and impose open prison like conditions and even solitary confinement on those that are deemed at high risk.
The pandemic has been used as an ideal opportunity by some businesses and plc's to cut staff and withdraw customer services , close retail shops and outlets and claim vast amounts of money from the government via support packages that are not only ill conceived and unfit for propose, but open to fraud.
I know of people who have been waiting for over two years to have supposedly non life threatening routine surgical procedure's carried out who are now being told to expect to be waiting four years plus, all the while their quality of life is affected and possibly this will lead to additional or other on medical complications and conditions of a more serious nature.

Not bad results from Centamin , although it was disappointing that some Egyptian negotiations are still ongoing and there was a lack of any real updates on West African projects!

Good to hear that you were able to buy back in at a better average!

Highlights Jefferies
22 April 2021
Key Takeaway
With the medium-term focus being a significant waste-stripping program, we see
the Q1 total open pit material moved of 22.6Mt being an all-time high as a good
indication the program has started well. Sukari remains a world-class asset and
continued execution on operational targets should drive a re-rating for an equity
trading on 3.5x EV/EBITDA and 0.7x P/NPV. Reiterate Buy.
1Q21 Beat. CEY reported solid 1Q21 beats on both production and cash costs.
Please see our first view here for more detail.
Pushing Ahead in Open Pit. 22.6Mt of material moved in the open pit was a quarterly
record and positive signal that the big push in the open pit for the next several
years has gotten off to a positive start. The 5x stripping ratio is deceiving (vs FY
target of 8x) due to continued conversion of waste to ore. The contracted wastestripping program commenced ahead of schedule and on the call CEO Martin Horgan
noted productivity improvements in their own fleet. Material moved in the open pit
is expected to gradually increase through 2021 and peak in 2022 and 2023.
Grade Surprise in Underground. The underground grade of 5.84 g/t (6.86 g/t stoping /
3.77 g/t) came in much better than expected, driven by some planned higher-grade
stopes and positive grade reconciliation. We don't expect this to repeat in quarters
to come and full-year should trend towards 4 g/t.
Solid Cost Mgmt. Cash costs of $733/oz in 1Q21 were materially below the FY21
guidance band of $800-900/oz. There was some benefit from movement in inventory
but the call clarified that this was not a major driver. Open pit conversion of waste
to ore will naturally defer some costs to later quarters as the ore is stockpiled vs
waste being run through the P&L during the quarter. Thus, cash costs in the coming
quarters are expected to be elevated vs Q1 but we think CEY is well placed to deliver
on its full-year targets. We lower our FY21 cash cost forecast to $831/oz (prior: $875/
oz, cons $859/oz, guidance $800-900/oz).
Backstopped Yield. CEY has committed to paying out a minimum of $105m in
dividends (flat YoY), implying $0.09/sh. Our FY21 forecast of $0.10/sh implies a
current 6.6% yield vs global peer average of 2.3%.
Upcoming Catalysts. Strategic update on West African portfolio (expected May),
2Q21 production results (22 July).
Valuation. Following 1Q21 production, we make minor tweaks to our 2021 (+4%) and
2022 (-2%) EBITDA forecasts, leaving us +20% and +25% ahead of cons. We continue
to derive our PT via a 50/50 weighting to EV/EBITDA (4.0x) and P/NPV (1.25x). We
nudge the PT higher to 175p (+5p). Reiterate Buy

Highlights Berenberg
Solid start to the year at Sukari: Centamin’s Q1 production was 104koz
(Berenberg: 92.7koz) with all-in sustaining cost (AISC) of USD1,091/oz
(Berenberg: USD1,264/oz). The company mined 3.7Mt from the open pit at
the Sukari operation in Egypt (Berenberg: 2.75Mt) at an average grade of
0.77g/t (Berenberg 0.7g/t). The underground mine produced 170kt of ore,
principally from the Ptah zone, at an average grade of 5.85g/t (Berenberg:
5.45g/t). The plant processed 3Mt (Berenberg: 3Mt) at an average grade of
1.16g/t (Berenberg: 1.08g/t) with average recoveries of 88.6% (Berenberg:
89%). In our view this represents a very good start to the year following the
short and medium-term mine plan that was set out in Q4 2020.
Management indicated that the waste strip programme at the site is
progressing well with 18.8Mt moved during the period, putting it ahead of
schedule. There was no material impact on production from COVID-19
during the period, although reduced contractor staffing levels at the
underground mine appear to have caused some issues.
? Guidance maintained, balance sheet remains solid: Production guidance
for 2021 has been maintained at 400koz-430koz, (Berenberg: 430koz) at an
AISC of USD1,150/oz-USD1,250/oz in 2021 (Berenberg: USD1,151/oz).
Capex guidance has also been maintained at USD225m (Berenberg:
USD225m) with USD37m spent in Q1; expenditure is guided to increase in
H2 due to spending on the solar plant and paste fill plant at Sukari. Higher
sustaining capex throughout the year should also drive up AISC as the year
progresses. Centamin finished the period with no debt and USD331m of
cash, although this should decline as the USD34.7m final dividend is paid
in May.
? Recommendation: We slightly raise our price target to GBp131 (from
GBp126) based on a blend of 1.2x NAV and 7x EV/EBITDA. We maintain
our Buy recommendation. This is a good set of results following a period of
operational challenges, and management has made a good start in terms of
delivering the new three-year mine plan at Sukari set out in Q4 2020. The
upcoming review of the West African projects should be the key catalyst
for Q2 ahead of the new long-term mine plan for Sukari that is due to be
published in Q4

The retention of a tendering process for exploration blocks limits the chances of any gold boom, said Sami El Raghy
"No other successful mining countries use this process. They all have a clear transparent mining laws stipulating the qualification, obligations and the rights of investors. (They) work on the principle first come, first served," said El Raghy, who was also a founder of Egypt's first and only commercial gold mine, Sukari.
The Ministry of Petroleum and Mineral Resources declined to comment.

Seems that whatever changes happen that Sami is like some other Egyptian billionaires never satisfied with his lot and always moaning about being treated unfairly.
No doubt the Egyptian legal system is a self perpetuating industry in it's own right that procrastinates for years and then goes into a state of comatose on the fence at the fear of having to arrive at a verdict!
For years Sami has claimed that Sukari is a world class mine and that it has the best people, unfortunately recent events, family nepotism, complacency, ineptness and in some instances greed by some family members demonstrates there is need for great change before Sami's claims may be considered justifiable!

Rising mineral prices and the increasing difficulties to earn a living from agriculture, have led to an explosive growth in global artisanal and small-scale mining (ASM) in the last few years.

The activity is emerging as an significant socio-economic sector in a number of developing nations, to the point it has become a major of revenue for millions of people in about 80 countries worldwide — mostly in sub-Saharan Africa, Asia, Oceania, Central and South America — with more than 100 million people currently depending on ASM for their livelihoods.

But what are the exact costs of this activity? The folks at Moneypod have put together this infographic that reveals just that.

https://www.mining.com/infographic-true-costs-artisanal-mining/

Hi Ian,
Believe it or not it is the the continued badgering by pi's that has helped to bring about the changes that are taking place in Centamin now, Cowichan and some other members contribute a great deal to this forum, but they also put in a lot more work off the board in trying try to hold the company to account that most forum members are unaware of.
So thank you to Cowichan and others for their efforts off this board on behalf of all share holders!

Thank you 2nd post.
I had emailed some questions the day before, but when I called in this moningI I also got cut off after speaking to the operator, I will be contacting Alex

Quite agree Cowichan,
How many analysts visited Sukari in the past and yet not one of them raised any questions about the state of the open pit ?
Kess Dekker was the only one who ever really questioned things and the Pardey claimed his reports were based on inaccurate information!
Also agree with you Spindler , Barclays have vested interests there, bunch of stinkers!

Hi ZambIanminer,
It isn't the UK "Per-se " that I am criticising as such, but the present government, the prime minister, the cabinet and the present electoral first past the post system.
Our government lies and despite it's claims erodes our freedom's .
I fail to see any advantage in not being in the EU, certainly not for smaller UK business that want to export, or even import.
You would find if you care to check back on my posts I have never said the the EU is perfect or a utopian society, I acknowledged that it had faults like our UK. but that the way to change things was from the inside , by writing to our MEP'S, but we have now been denied that opportunity by our government!
Eygpt may have a dictatorial regime, but Centamin behaves responsibly, pays it's due's and does what it can to treat it's employees fairly and contributes in many ways to the local community.
As you invest in bitcoin and crypto currencies and you may like to consider their impact on the environment.
https://diginomica.com/bitcoins-damage-planet-coal-powered-chinese-phenomenon-uses-more-electricity-whole-argentina
https://mises.org/wire/critics-claim-bitcoin-threat-environment-theyre-wrong

Not strictly true, the UK always had to option to decide on choice of vaccine and inoculation program.
It is true that, in general, regulation of new medicines is done on an EU-wide basis. But that does not take account of the emergency provisions in EU law.
At the government briefing, Prime Minister Boris Johnson was asked whether the UK's vaccine approval was down to a "Brexit bonus".
He refused to answer directly and thanked the NHS and the Vaccine Taskforce instead.
https://www.bbc.co.uk/news/55163730
https://fullfact.org
So still waiting to learn what are the advantages of not being an EU member to "Joe"!

Razor's,
It might be political and but it's certainly not nonsense and some of it t is very relevant to the underlying mood and what happens in the markets.
If your only interested in discussing a gold miner then why take the trouble to make your morning post's which happens to include information on the UK and European markets?
Of course you are entitled to your opinion and your choice of what you want or don't want, as is everyone else, even Jacob Rees Mogg, although its' better not to sound like him!