RE: Sterling’s strength21 Feb 2021 10:43
That was'nt my intention at all Steve,
It's just that i well remember when I was invested in BP, Vod.l, Lloyds,Stan.L RBS, Kaz, Morgan Stanley Russian & China funds, Aberdeen Asset, Hoc.l, Tesco, Travis, SBRY.L, TLW,L etc, etc they really were no better if fact some including BP,VOD.L and the UK banks were far worse.
I feel as frustrated and annoyed about the state of the Sukari open pit as every other long term holder, Andrew Pardey and the Sukari general manager Youssef El Raghy both failed to carry out their duties and responsibilities properly by allowing the open pit to degenerate into such a dangerous state, if they had been ordinary employees they would most probably have been given their cards!
But as we are aware that would be admitting that the company board had made bad appointments,so Andrew moves on to another senior post in another company and Youssef gets his bonus shares and more capable people are brought in to run the mine and do what a mine manger should have been doing all along.
The Kees Dekker 2016 report on Sukari open pit high grading flagged up the potential of serious problems in the near future, but although Andrew Pardey had been in communication with Kees when disaster stuck in 2018 Mr Pardey denied any knowledge f the 2016 report,and understandably if we are honest most of us wanted to believe Andrew rather than a highly experienced ,but free lance mining analyst and geologist because it suited our investment aims better!
I'm not saying that Centamins communications with its retail investors shouldn't be improved, but even if they are there is no real guarantee that we will be told all the facts because that may not be in the interests of the company ,or it may break financial regulations by unduly influencing market reaction.
So like many others last year I believed what suited my investment aims, or even got a little greedy and chose to believe that although the share price was £2.30 the POG would carry on rising and £2.90 was not so far away!
Well we all know what happened, if only, but then hindsight is a great thing whether the companies communications with investors are good or bad!
The rest of the world is in a mess, the UK is a basket case of dirty pants and for the time being it seems that crypto & bitcoin is preferred by many!
So we are where we are in a pit full of rubbish that hopefully will be cleared up before too long and a CEO with what we hope is a credible plan going forward!
No doubt when negotiations are completed we shall get some news about the concession round which hopefully may prove to be beneficial and cheer share holders up!
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