Member Info for mrtibbles

Thank you Dasut, I mentioned Trevor Schultz as an example of someone who had the relevant qualifications and experience, those that followed him didn't seem to be of the same calibre!

As to Youssef's job title well it seems to have been just about inappropriate as it could possibly get and whoever came up with it didn't have much idea as it was misleading and inappropriate, for instance shareholders understandably would assume the Sukari general manger would be appropriately qualified and experienced, this seems to be the case in the majority of other mining companies I am informed, but Sukari had an ex police captain and I doubt that running a gold mining is on the Eygptian police academy curriculum!

Whilst I don't agree with the way far too many companies are willing to go along with the greasing of palms or cajoling the all too often corrupt, incompetent and greedy governments in many African developing countries, I can begrudgingly understand the rationale behind appointing Youssef into a senior role.

But that said, assuming there was someone managing the Sukari operation behind the scenes then should they should have had he appropriate title as it seems now that Youssef's role was more being an acceptable face who was fluent in the language and competent in the Egyptian way of doing things and so able to rub along with the ruling officialdom.

Possibly more appropriate title for Youssef could have been something like "Regional Business and Governmental Relations Manager", this sounds appropriately quite grand enough to impress the various officialdom he would expectorated to rub along with.

So lets hope that now at long last things have really changed for the better and that the progress being made now is far less erratic than in the past and importantly sustainable!

10 May 2024

In this week’s episode of Live from the Vault, Andrew Maguire is joined by world-renowned “Rich Dad, Poor Dad” author, Robert Kiyosaki. Andrew and a returning Robert discuss the changing global economy and how to preserve wealth.

The precious metals experts examine massive, ongoing Indian & Chinese silver demand and delve deeper into the sound money movement, before proclaiming the Kinesis ecosystem to be the evolution of money.

https://www.youtube.com/watch?v=DnS5hZGqQjA&t=2s

hi dasut,

nostalgia has it's it place.

point taken unfortunately josef was like so may brokers,very good at selling the product and encouraging people to invest but of his lack of understanding the shop floor fundamentals of the business he was unable to challenged the professional capabilities of new appointments made to replace the likes of trevor schultz for example.

https://www.glasslewis.com/musical-chairs-centamin-director-voted-off-board-reappointed-immediately/

https://*********************/newsfeed/article/retirement-of-non-executive-director-762146

whilst i also accept ,although i cannot agree with entirely that it seems to be custom and practice in order to do business in these types of countries the company needs too have on the payroll a mediator based on their popularity with the ruling ''mob" if youssef wasn't capable of fulfilling the role of sukari general manager fully then he should have been given a more appropriate or fitting title,by not doing so is not being entirely honest with shareholders or the market.

42,069 views 7 Mar 2024 #gold #economy #KeithNeumeyer

"There’s a rush into gold because of the de-dollarization of the world. It has nothing to do with the interest rates,” asserts Keith Neumeyer, CEO of silver powerhouse First Majestic. In a conversation with Daniela Cambone at this year's 2024 PDAC Conference, Neumeyer confidently reiterates his vision of silver surpassing $100 per ounce. With 1.2 billion ounces in demand and only 820 million ounces in production, there's a notable disparity, Neumeyer emphasizes, highlighting the looming silver deficit, set to escalate in 2024.

https://www.youtube.com/watch?v=QRLP-CePIhc

Thank you Dasut, but also about a appointing the suitability qualified personnel who will implement the most suitable mining methodology to exploit and develop the reserve.

Agreed MrGnome,

It's all about parting gullible and trusting investors from their money so the buggers on the top table can keep the sham going for a while whilst filling their boots before bailing out!

Hi Dasut,

Centamin investors past experience is proof enough that Josef never was any expert in gold mining, although he is a privileged El Raghy sibling who was awarded millions of free shares for nothing and can hardly claim to be any expert appointing the right people to run a mine properly considering how many years he was prepared to have another family member who was unqualified in mining,greedy and incompetent, although agreed a former Eygptian police captain as Sukari general manager and also to have permitted Andrew Pardey to continue for so long with his continued incompetence and money wasting projects in his over promoted roll!

It's very easy to claim to have invested in Centamin when you have been given millions of shares on a plate for doing very little!

What a shower!

Before investing into any of these what may be regarded as "Pyramid" schemes people should consider who is it who is putting all the money in and really taking all the financial risk ,certainly not this bunch of board room seat hoppers who participate in a few board room meetings in various supposed potential profitable gold mines, most of which will just be investors money pits

Yet these all non exec board room seat hoppers who put up sweet FA and hold no responsibility for any incompetence in anything else other than parting gullible and trusting investors from their money are the parasites who receive the non exec retainer fees freebie shares and expenses.

What happens when these Pyramid schemes collapse and retail investors lose a packet the same old BOD excuses will be churned out "Oh well mining is a risky business , "The grades didn't stick up, "How were we to know" and then after spouting all this crap they will ride away with their saddle bags full to take up the tops seats on the next gold mine pyramid scheme due to their supposed professional expertise and experience!

Thank you Cowichan, This seems like some sharp practice by the government and the private companies in order to deny the Eygptian workforce fair contracts of employment and the appropriate wage for doing the job!

Just greed by those at the top who are never satisfied, but it should be put right!

Hi Cowichan,

Considering the chaotic and shambolic way that crucial operational equipment was run under Pardey & Youssef this seems to be a very prudent and essential course of action!

( Think back when the sole underground LHDR self destructed and Pardey had no contingency plan or any spare parts at hand!)

Should be interesting to see how Pardey runs the Wein Namibia money pit!

Good point Mr Gnome, Youssef was also on the CAPD registry, it's like a Mafia family, knowing what we know now I wouldn't trust any of this shower and potential investors would be well advised to stay from this potential lavatory of a "Pyramid" scheme!

Currently Managing Director at Predictive Discovery, Andrew has over 30 years’ experience in exploration, project development and operations. He recently served as CEO of Centamin Plc (2015-19) and has held senior positions in Africa and Australia as part of Guinor Gold Corporation and Ashanti Goldfields, now AngloGold Ashanti.

Hi Cowichan, I was told that Josef had stepped down from Centamin to take a back seat, possibly he got bored?

Also doesn't seem to give any detail as to why Andrew Pardey left Centamin ?

Think I will give Wia a big miss!

Thanks Softrock,

You are correct, thank you for reminding me, that was part of the the explanation I received in the past regarding the reasons for the share sales by senior management, so assuming that is again the case nothing sinister, just covering their tax liabilities!

https://www.gannons.co.uk/insights/avoiding-tax-problems-with-employee-share-schemes/

https://www.litrg.org.uk/savings-property/capital-gains-tax/selling-shares-and-other-assets

Hi Rebess, I recall asking the question about those at the top (Josef & Youssef)selling shares but I shall have to check back and see if I can find the answer, I seem to recall it went something like that insiders at BOD level can only dispose of any awarded (Free) shares in certain windows of the year.

Although we all know now why Josef was filling his saddle bags!

Cowichan, In my experience Centamin PR have regarded you as a thorn in their side for several years now because you ask far too many awkward, but in reality reasonable and quite justifiable questions.

I agree that anonymous account postings like these on social media are suspicious to say the least and these declaring 500,000 at Sukari do little to inform on the reality of the AISC or the inherent abysmal grades of the open pit!

Let's face if the two top members of the Centamin are so confident that the present share price is so undervalued and they really have confidence in their present strategy and the potential of Centamin going forward then they would demonstrate by putting a reasonable amount of skin in the game and buying more shares and not selling them that after all have been given t them on a plate for no more then doing what they are paid to do!

I was told that Sukari was chosen over other potentially higher grade reserves mainly because of its closer location to a water supply!

Martin and Ross obviously don't need to sell and if they were to buy half a million share each now past experience of companies has demonstrated that they could have likely made a good profit on a rising share price, so why didn't they buy?

Want Your CEO To Really Perform? Get Their Skin In The Game…

Highlights

‘Skin in the game’ is not just a good motivator; it is a good market signaling mechanism.

Our research shows that companies where CEOs have large stock option holdings historically outperform their index.

There has been no end to headlines focused on CEO compensation, along with the scrutiny that goes hand-in-hand with the topic. Ever-increasing executive compensation over the past four decades – aided by consultants, compensation committees, the CEOs themselves, and the backdrop of an extended bull market (1982-1999) – has meant widespread acceptance of the link between CEO pay and performance.

Still, consider this – what if there was no link between jaw-dropping CEO pay and performance? Research suggests there isn’t.

A recent report from the Quantamental Research Team at S&P Global Market Intelligence has found that executive pay itself is not a firm indicator for future stock performance, and instead, market players should look at the behavior of CEOs and activity pertaining to their stock option holdings.

‘Skin in the game’, if you will, is not just a good motivator; it is a good market signaling mechanism.

https://www.spglobal.com/marketintelligence/en/news-insights/blog/want-your-ceo-to-really-perform-get-their-skin-in-the-game-

“There are tens of economic authorities in Egypt working with independent budgets which, in total, amount to the entire state budget. These economic authorities are technically guaranteed by the government and have access to state-backed loans that do not show on the budget,” explains Rashied.

“These unproductive entities receive the majority of available credit, add to the budget’s real deficit and effectively crowd out the private sector.”

https://english.ahram.org.eg/News/522892.aspx

1 May 2024

Centamin plc

("Centamin" or "the Company")

LSE: CEY / TSX: CEE

DIRECTOR/PDMR Shareholding

Centamin announces that the 2021 share awards under the Company's shareholder approved Remuneration Policy and Performance Share Plan ("PSP") have partially (31.29%) vested.

The share awards are for ordinary shares of nil par value in the Company. As per the PSP, awards carry the right to dividend equivalents on the shares that vested.

For more details on the Company's long term incentive plans, including performance conditions of the PSP, please refer to the Remuneration Report within the 2023 Annual Report and Accounts, available on the Company's website https://www.centamin.com/annual-report-2023/.

DIRECTOR/PDMR NOTIFICATIONS

In accordance with the requirements of Article 19 of the UK Market Abuse Regulation (Regulation (EU) 596/2014, as it forms part of UK domestic law by virtue of the European Union (Withdrawal) Act 2018), the Company makes the below notification and public disclosure of transactions by persons discharging managerial responsibilities and persons closely associated with them.

All vested shares (net of tax) will be held by the Directors for a further two-year period and these shares will be retained towards the Company's in-employment and post-employment share ownership guidelines detailed in the 2023 Remuneration Report. Disposals referred to in this announcement are to cover tax liabilities on the vested share awards.

It's written in the constitution of many institutional Centamin shareholders that they are forbidden to invest in corrupt and oppressive regimes , certainly Eygpt unfortunately Eygpt under Sisi falls within that category so this may well be one of the reasons that institutions have reduced their positions.

Alexander Lukashenko is an evil bugger and bum licker of Putin, I can imigine Sisi rubbing along with them!

Belarus isolates political prisoners to break their spirit 7 August 2023

For almost six months, Maria Kolesnikova has been hidden from the world!

Arrested in September 2020, the Belarusian opposition activist has been held in total isolation in prison in the country since last February, with no phone calls or letters and no visits from relatives or her lawyer.

"They said, if you're 'political', then you'll feel it," Inga said, as she recalled her week at Okrestina detention centre in the Belarusian capital Minsk.

There were 14 women in a cell with four beds; no showers, toothbrushes or toilet paper.

Alexander Lukashenko has repeatedly claimed there's "not one" political prisoner in Belarus, because there's no such article in the criminal code.

But the respected human rights group Viasna currently lists almost 1,500 people imprisoned for their peaceful political actions or views.

One of its own activists, just released, was made to spend his last nine days in solitary confinement, sleeping on a damp concrete floor and using his fist for a pillow.

https://www.bbc.co.uk/news/world-europe-66384662

All these women are prisoners of conscience who suffered from the actions of the criminal Lukashenka's regime

https://belaruswomen.org/en/women-political-prisoners-in-belarus-pages

Alexander Lukashenko & Sisi are the same in many respects they should get on well together although the the world would be a better [place without both of them in my opinion!

A group of independent UN human rights experts said on Friday that there was “credible evidence” that inadequate prison conditions in which former Egyptian President Mohamed Morsi was held may have led “directly” to his death in June, and thousands of other detainees may be at “severe risk”.

https://news.un.org/en/story/2019/11/1050941

Morsi was denied medical care; his family was allowed to visit him in prison only three times; and he was held in solitary confinement for as much as 23 hours a day, which under United Nations guidelines classifies as torture.

https://www.aljazeera.com/news/2019/6/20/morsis-death-spotlights-systematic-mistreatment-of-prisoners