Member Info for mrtibbles

Hi Dasut,
i had posted his before but some may not have read it.
See reply from Buchanon 12/11/19
The tragic events in BF are being closely monitored and the safety of the teams working there is of paramount concern.
The Centamin assets are quite some distance from the Semafo incidents but that does not mean Centamin have any complacency in what is clearly a region with some tensions.

The focus over the past 2 years or so has been on the exploration in Côte d'Ivoire, which remains stable and peaceful.
This is where the West African focus will remain for some short term.

Hope that gives you some context.

I agree Rebess,, big thank you to Cowichan for his tremendous efforts on our behalf's, he certainly deserves to receive open and honest answers to his justified open and honest questions!

I fully understand and feel your frustrations over the way that Pardey failed to deliver on his promised updates to share holders several times .
Whilst it would be great to get the answers from Buchanon as Bob already stated we have to appropriate that they have to work within the parameters of their clients remit .
Pardey was out of his comfort zone as CEO and clearly promoted way above his managerial capabilities, but he seemed to think that if he could just carry on kicking the can down the road for a bit longer that things would eventually come good at Sukari.
It seems apparent now that if Jeremy Langford had been brought in sooner that a turnaround for the better on the production side could have come about far more quickly.
Lets hope recent events will have helped spur on even more changes for the better at Centamin, including more meaningful and informative communication with all of its its share holders!

I agree, also £6 a trade is an excellent rate

Tibbs

Part 2 You can see which camp James Bell is in and it's not Centamin's!

The company’s decision to walk was greeted with approval by at least one analyst.
James Bell, analyst with RBC Dominion Securities, wrote in a note that the acquisition would likely have been dilutive to Endeavour shareholders. “Management are correct to walk away,” he wrote.
This was the second large potential merger in the past few years that has fallen apart for Endeavour. In 2017, the company engaged in takeover talks with African miner Acacia Mining PLC. But Endeavour abandoned its efforts after the Tanzanian government levied a sizable fine on Acacia, following a dispute over alleged unpaid taxes.
Last year, Barrick Gold Corp. acquired the minority stake in Acacia it didn’t already own, after reaching an agreement with the government of Tanzania to settle the tax dispute.
After being dormant for the better part of a decade, deal-making has come roaring back over the past 16 months in the gold industry, as miners fight to win back interest from investors and bid to replace declining reserves. Last year, Barrick completed its US$6-billion takeover of Randgold Resources Ltd., and Newmont Corp. bought Canada’s Goldcorp Inc. for US$10-billion.

Canada-listed Endeavour Mining ends pursuit of Centamin after failing to reach agreement on valuation
Canada-listed Endeavour Mining Corp. has dropped its pursuit of Centamin PLC after the two gold miners failed to reach agreement on terms of a takeover deal after a hurried due diligence process.
In early December, London-based Endeavour tabled an informal all-stock proposal for Centamin worth $2.5-billion.
Endeavour operates four mines in West Africa. Jersey-based Centamin operates a single mine in Egypt.
Endeavour argued that Centamin would benefit from being part of a larger and better diversified miner, and that the combined company would be more appealing to investors. Centamin agreed that a combination could make sense and the two miners undertook a roughly six-week due diligence on each other.
In a statement explaining why Endeavour was walking away, chief executive officer Sébastien de Montessus said that while the rationale for a deal still made sense, the quality of information received during the due diligence was “insufficient to allow us to be confident that proceeding with a firm offer" was in the company’s best interests.
But in an interview, Centamin CEO Ross Jerrard disputed that reasoning. He said the quality of the information that the company provided to Endeavour over the six weeks was perfectly adequate and appropriate given the progression of the talks. Centamin’s management engaged in more than 100 meetings and conference calls with Endeavour, and provided around 1,700 confidential files, he said.
According to Mr. Jerrard, the main reason the deal didn’t get over the finish line is the two miners didn’t see eye to eye on valuation.
In a statement, Centamin said Endeavour’s offer “materially undervalued” the company, and that there wasn’t any point in continuing discussions.
As often happens when takeover deals fall apart, shares in the target company fell, while shares in the would-be acquirer rose, as arbitrage investors unwound their positions.
(Upon the announcement of a takeover deal, arbitrage investors typically go long on the shares of the target company, and short sell the stock of an acquirer.)
On Tuesday, Centamin lost 7 per cent of its value in trading on the London Stock Exchange, as hopes of a premium stock takeover vanished.
Alan Spence, analyst with Jefferies, wrote in a note to clients that while the collapse of the takeover talks was a “near-term negative” for Centamin, the company would likely be on the radar screen as a potential takeover candidate for other miners, and perhaps even Endeavour again, at a later stage.
Endeavour shares rose by 5.4 per cent on the Toronto Stock Exchange.
The company’s decision to walk was greeted with approval by at least one analyst.

Repression,
Stop losses are a con, the MM and others can see them, one of the reasons so many CFD traders close their positions on a Friday is because the market can Gap down over the weekend and although you have set you stop loss at £1.20 the market could open up much lower and you are still commit ed to paying that extra loss!
If you have margin on your portfolio they will take that , if you lose all of your portfolio (which some traders have done)then you will still be required to pay the debt, so you have to raise money against your home or other property , whatever you are in big trouble , just as though you had bet against the roulette wheel and lost big time!
As an example Logic Investment rang me several times in a morning advising me to go short on Travis Perkins, I was against the idea as I said it was a quality company, Darren the broker kept calling me stating they knew what they were doing, in the end I relented and let them open a short position at around mid day, we went to Salisbury's and at around 1400 hrs whilst in the supermarket I received a call from Darren saying that the market had moved against my position, so taking his advice cost me £921 in less than two hours!
This is just one example the mess you can get into CFD trading and in my case the incessant calls from the broker to trade and the worry and stress I went through over many weekends including a Christmas break caused me to become very ill and my doctor advised me most strongly to close my CFD trading account.
Taking my doctors advice cost me around £31,000 to close all my positions and the account with Logic Investments,but it was the only way to stop the merry-go-round and regain my mental health!
So before entering into CFD trading consider very carefully the true risks involved to you and your family!

Hi Mizolgit
Good point and fair comment I agree with you!

Hi T21a
I would tend to agree with Jeph's assumption on this!

Thank you Siko for this
Posted on: Thursday 12 December 2019 - 7:29 PM | Last update: Thursday, December 12, 2019 - 7:29 PM
An official source at the General Authority for Mineral Resources said that it is planned to issue the executive regulations of the Mineral Resources Law during the current month.
According to the source, who requested anonymity, the Ministry of Petroleum and Mineral Resources, in cooperation with the authority, has finalized the executive regulations to amend the Mineral Resources Law, provided that it is submitted during the current month to the Presidency of the Council of Ministers for approval.
The House of Representatives had approved last July, a draft law submitted by the government to amend some provisions of the Mineral Resources Law No. 198 of 2014.
The draft law aims to set clear controls for the exploitation of Egypt's mineral wealth from quarries, mines and salts, in order to allow optimal exploitation of this natural resource while ensuring that it achieves the largest possible return for the benefit of national income, "and it is only available within a disciplined legislative framework that is characterized by transparency and taking into account the interests of all parties" depending on To the source of the body.
The amendments stipulated that the articles of the project apply to licenses to search for minerals and exploitation agreements issued by law, and in a manner that does not conflict with the texts of those agreements to unify the rules governing this vital area of ??exploitation of the state's natural resources.
The draft law granted the Egyptian General Mineral Resources Authority and the competent authorities the right to negotiate with the licensees in relation to the application of rental values ??and royalties for a search and exploitation license, in order to reach their fair value.
It also granted it the right to take measures to issue licenses for mining ores, navigation, research and exploitation, with the requirement that this procedure be approved by the minister concerned with mineral resources, the governor or the head of the new urban societies body, according to the geographical area in which the area of ??exploitation is located.
According to the draft law, areas for mining research and exploitation are available by decision of the Authority’s Board of Directors, and after the approval of the competent authority that this offering be a special regulation that includes all the conditions for contracting and awarding and how to choose between the requests submitted with the need to take the opinion of the Ministry of Defense regarding what it decides of the requirements Defense of the state.
According to the source, Wood Mackenzie International Company for Mining Affairs submitted the initial study for developing the mining sector, noting that the study includes setting a strategy to work in the Mineral Resources Authority, in addition to a development plan to attract inte

dealts iit goes to show the the market is run like a bent bookmakers shop, they don't really care a jot if the CEO of a company lies or that the company is so far in debt and hedged that its survival is on a knife edge, all they care about is the opportunity to churn the shares up and down for a quick profit and lots of lovely trading commissions!

Many a true word spoken in jest Rebess!

The past few weeks has been especially trying and frustrating for us Centamin share holders, however it has brought some new members to our group and also brought about some very informative and supportive debate which has been educational and beneficial to us all.
Well done and thank you to everyone!

Hi Cowichan,
Will do, again and also copy in Bobby Morse of Buchanon.

They are a bunch of "Carpet Baggers" I hope they get their just deserts for the way they have behaved!
Still at least old Sawface didn't get his hands on Centamin!

Hope the shorters get their ars-es roasted big time ,bunch of manipulating gangsters deserve it for trying to carpet bag Us!!

Don't understand why the MM drop the SP to allow the short positions to close out flat, why not just raise the SP and so they have to sell at a decent loss to teach the buggers a lesson!

If you CFD trade you use your existing portfolio as margin, so you would easily be able to open a position on 10x leverage !
However if it goes wrong your losses are amplified at 10x plus any leverage interst owing and commissions!

Kind of you Bob,
Due to my awful and very expensive experiences after getting taken in by the hard sell tactics of a CFD broker (Logic Investments,, London ) I always advise investors to precede with extreme caution before getting involved in CFD trading.
The hard sell tactics by Logic to open a an advisory CFD account with them made it sound all so easy to make so much money with minimum outlay in a short period of time, unfortunately despite my reservations I soon discovered that it was far easier to lose even more money in an even shorter period of time, however the broker always got their commissions but took no risks !
So good of you to offer ho give people some guidance on CFD trading, it is a very risky business especially for the inexperienced.

There was no need to use all the cash pot to buy back shares , instead they could have used some of it or even all of it as margin against a 10x or 20x leveraged CFD long position, this would have incurred a very low interest charge whilst the position was open, although this would have been more than covered by the dividend on the shares in the CFD, also the SP would have been strengthened /increased, this is the method used by Blackrock .
Centamin could have also arranged to retain voting rights on the shares held in the CFD, as do Blackrock.