Member Info for mrtibbles

As I said Sotolo the likes of us retail investors usually lose out big time with this type of mergers /take overs .
If Endeavour succeed with this take over then all of us long term holders will get shafted, we will have remained true to the stock for over a decade and it will have all have been for nothing!
Forget what some seem to think that this is a good thing, it really isn't unless of course you are on the board of Endeavour, Mr Sawaris , a market maker or a broker.
All the claims made by Endeavour about the advantages of this take over are flawed . they know it and the likes of RBC, Black Rock & Co care not a jot!
As already pointed out on here some of the big institutional holders in both stocks will have been loaning out their CEY stock to shorter's to kick us in the crutch!
The actions by Endeaour is not to celebrated by any retail investor in Centamin, it is pants, pants & more pants and they will have our pants down i they succeed!

With the amount of cash that Crntamin have spare they could easily open a long CFD in Cey leveraged up 10%-20% with negotiate voting rights and blow all these shorts out of the water!

Yes Dasut another couple of reasons most probably not even considered by the MM & brokers that only those with the mining experience such as you would be aware of.
But then a week is long term investing as far as many brokers are concerned, its not about understanding the long term fundamentals of the investment ,it's just about using hype and panic to churn the shares and make trading commission!

Forget the sale, the offer is absolute pants from a desperate company!
If by any chance it did go through on these terms or even slightly better then I very much doubt it would benefit Centamin share holders

Ultrainvstor,
Remember as Cowichan also pointed out trading volumes this time of the year are exceptionally low indeed,so the trades that do take place effect on the indices are greatly amplified.
Try to stay calm, you may well see many of these positions closed as things close down for Christmas.

Then in this instance the market is an "Ass".
I hive nothing against a tie up or partnership with the right unhedged, debt free company on the right or equal terms.
The proposal by Endeavour does not fulfill any of this criteria.
For Endeavour and its share holders to take control of 53% of the merged company is a take over
Centamin has untapped high quality and unexploited reserves in West Africa.
Endeavour has mediocre mines under attack or threatened by rebel factions.
Endeavour has huge debts and is desperate to feed on the cash pot of Centamin like a parasite on the underbelly of a camel.
If Endeavour take control then dividend payments as we have received in the past may well end and of course if the new company is not dual listed and on the London exchange then thousands of retail investors will have the added inconvenience and expense of having to transfer their holdings to a broker in another country.
My past experience of take overs like this has not been at all good and usually resulted in my shares being sold/dissolved or reduced in value by the predator parasite making the take over.
Of course the market makers ,brokers such as the likes of RBC are keen for actions like this because they make lots of commissions!
Economy of scale in a partnership with a company like Endeavour should not be entertained and should be avoided like the plague!

Yes I agree and like many others I was also disappointed and angry regarding the way that we were let down in 2018 Q1 after Youseff had made his statement promising 560,000oz in the Egyptian media.
But as Dasut has already pointed out Youseff would have been relying on what "Pardey" had told him!

Incidently the statement I posted was on behalf of Centamin IR/PR issued after Jeremy Langford had taken control of production, after past events Centamin and he must be aware of just how much is at stake now if they do not deliver on what they promised in any official statements.

Quite so philandlynne, I agree with you entirely!

Sorry meant to say that I just delete the vast majority of these RNS notifications without even reading them!

Quite so Supercharger, I do recall you stated that it was usual in a situation like the Cey / Endeavour that there would be a flurry of RNS emails.

Last I heard production was expected to hit lower end of guidance!

In terms of meeting guidance for the year, and as stated on the call, Cey are targeting the lower end. Q4 was always the biggest quarter in our forecasting.
The overarching performance metric is reducing dilution (OP/UG) and delivering the grade to the mill. Q3 was weaker than we had expected. However October performance is in line and on track to deliver c.50koz, which is very pleasing.
Operationally, Jeremy continues to get his arms around the business and a grip on requirements. The announcement of the Life of Asset assessment will support a much deeper dive into the component parts of the business (U/G, O/P, processing plant etc.), and Jeremy is ably supported by new mine manager, new operations director, underground manager and a head of processing. It must also be recognised that the business has a much better appreciation for the ore body now, than when it started mining a decade ago.
This, in conjunction with this baseline study, should establish the programme for the next decade and confirm the world-class status of the mine.

Hi Sotolo,
Myself and others on here have already written to the board on this , but I hope that anyone who hasn't already written in support of a "No" will now do so.
Cowichan and Dasut make some very valid points.
After theCentamin board have alraedy refused this offer and advised share holders to say no I believe Centamin seriously want to consider this.
Possibly they will go through the motions to satisfy Mr Sawiris, only to come to a negative conclusion.
In any case it is impossible to carry out a proper due diligence before month end and over the festive season, that aside why would Centamin want to ask for an extension on such an inadequate offer?
If the Centamin board were to approve or change their minds/advice on this offer it would be like Turkeys voting for Christmas!

Also many brokers discount the Centamin share price by at least 20%because of the unresolved court case.

Good to hear from you Bob!
Agree entirely on your comments about the market makers!

Good points Rebess,
The unresolved court case has kept others at bay, but then they don't have the inside connections of Mr Eygpt (Sawiris).
All EMRA really cares about is keeping the gold (profit share) coming out of Sukari, of course they may well have a preference to be in partnership with an Egyptian, perhaps Hamdy was on to something ,remember his gripe was always really about EMRA, never Centamin the company!
https://www.sharesmagazine.co.uk/news/shares/centamin-eyes-end-of-legal-pains
https://www.theguardian.com/business/marketforceslive/2012/oct/30/centamin-share-suspension-gold-egypt
Centamin need not be a one tier mine, that iissue is easily solved by exploiting some of it's ample reserves in other areas of West Africa.
Most of the RNS's which are CFD trades are issued by Numis,RBC etc on behalf of their clients, so it's virtually imposable to tell who is really holding the short position.
Also some of the analysts/journalists who write these articles are being influenced by others.
i don't agree that the market is saying no more, the fact is there is only one bidder and there is unlikely to be any others whilst the court case is unresolved because they don't have the Egyptian connections that Endeavour does.
So the Endeavour strategy is offer no more and push the price down by shorting which they hope will panic share holders into taking what's on offer rather than what the company is worth!
if this Endeavour bid fails then any subsequent offer will be considerably more, it will have to be because the another quarters productions figures will have been revealed and it will be evident that now Jeremy Langford has a free hand production is getting back up to steam again!

RBC statement-
"Investors were increasingly sceptical of single-asset gold companies, preferring less risky diverse companies with assets in several different jurisdictions"

As a Centmain investor I am an suspicious of opportunistic highly indebted gold mining companies with mediocre reserves and performance that have parasitical intentions!

From what I recall share trading volumes usually drop off considerably his time of the year (Christmas) this can lead to some more erratic or amplified share price movements.

https://www.sharecast.com/news/broker-recommendations/rbc-capital-welcomes-changes-to-centamin-board--7170318.html

What acceptable offer can a non divi paying hedged and endebted mining operator of several mediocre mines possibly make to a cash rich, debt free, divi paying tier one mining company producing 500,000 Sukari oz per year at low end AISC and with several other gold rich untapped resources in reserve?

Whilst I agree that Centamin needs to sort out the Sukari production problems and its boardroom I fail to see how any tie up with Endeavour could be for the good!
Endeavour is heavily in debt has several mediocre mines, has never paid or intends paying its share holders a reasonable divided and would be parasitical cash sucker on the back of Centamin!
Look how much money Mr Sawiris has throw down the lavatory pan on Endeavour future promises that may never materialise!
Let's hope that this finally shakes our boardroom members out of their state of complacency and they start to put some concerted efforts into getting the court case resolved, sort the Sukari open and underground production problems out including starting to produce some gold from the Cleopatra slope instead of just moving piles of muck around and finally release the scoping results for their other west African reserves that were promised two years ago!