Member Info for mrtibbles

In view of the possible offer from Endeavour, Centamin is now in an offer period for the purposes of the Takeover Code and subject to regulation by the Takeover Panel, which provides strict boundaries on communications.
Share holders are therefore referred to the announcements that have already been released by Centamin.
The proposal by Endeavour is not a firm intention to make an offer and there can be no certainty that an offer will be made.
The Centamin board strongly advise that shareholders take no action in respect of this proposal at this stage.
Centamin will ensure that all shareholders and other stakeholders are informed by way of publicly issued announcements as and when appropriate.

Possibly a reason for Mr Sawiris interest in other African assets is a desire to diversify geographically.
Although It is also possible he gets taken in by some of the lofty promises about the prospects of the exploration plays?
Endeavour management has an atrocious track record though, that should put Centamin shareholders off!

Hi Marmot,
Like many others on here I am really glad to hear from you and agree fully with your summing up of this opportunistic approach from Endeavour!
Please do read Cowichan post about the link to the Centamin Twitter account page and I urge you to post your very valid summing up on there, I shall certainly support you on the Twitter page.
Once again great to hear from you and thank you!

Numus going short with CFD on behalf of client today ?
https://otp.tools.investis.com/clients/uk/centamin_plc/rns/regulatory-story.aspx?cid=1756&newsid=1351896

Thank you Dasut.
You have given us the benefit of your past professional experience in the gold mining industry by highlighting some very valid points that some mining investors may not have considered before.

So I wonder why did Paredy get awarded his recent bonus shares?

Fully agree with you Redfish, Rebess, Sotolo and all the other long term holders hare been patently waiting for so long for their £2.00 plus tickets to the golden flip flop party!

I urge everyone to support Cowichan by emailing Alexandra Carse of 'Investor Relations' and also copying in CFO Ross Jerrard and Bobby Morse of Buchanon with a similar request for this information which was after all promised for release in 2018.
Please ensure that your contact details, addreesss and a telephone number are included on the email and please keep a copy of it and any response you may receive.(failure to include your contact details and address will be an excuse for Centamin IR relations not to acknowledge or respond to your enquiry.
We share holders have been patient enough for long enough and Andrew Pardey did state in a telephone conference call that communications with share holders would be improved, sadly this hasn't happened.
If we don't get the 2018 promised information and answers to the other questions then I am of the opinion that a complaint should be put to the the appropriated regulator including copies of any communication that was sent to Centamin investor relations.
Whilst we share holders are keen to support Centamin it is time that management reciprocated and if they don't then I am afraid that we share holders will have no alternative but to ask the regulator to intervene on our behalf.

Tibbs

'Many a true word spoken in jest Rebess!"

Well said Sotolo!

Hierarch,
Good afternoon, I don't recall seeing many,if any previous post from you so you may not be familiar with the members of this forum.
Rebess is a highly respected member of this forum and a long term holder of Centamin who like many of us realises that his comments on here stand very little chance if any of moving this SP either way
He has over the years though contributed a great deal to the board and been most supportive of other share holders through both the good and the the more trying times!
Best of luck with Centamin and good afternoon.

Let me try to guess Rebess, Would it be Sebastien de Montessos?

Are you now a Centamin holder Tiger, hope you don't mind me asking but I remember you were on the side lines in the recent past?

True the Centamin management team need to improve and the results from Burkino Faso drilling are long overdue, this situation needs rectifying as a matter of urgency.
However Endeavour has yet to prove their strategy has worked by producing the profits and if they are forced to moth ball some of their mines in West Africa due to unrest then this is going to be more difficult.
I don't have any objection to a Centamin partnership with the right company at the right price, which should be considerably more than the paltry offer made by Endeavour.
Kees Dekker is'nt that impressed with Endeavours performance is way and as he pointed out there are far better companies such as Barrick that could well put up a more sensible starting offer for Centamin.
I am of the opinion anything under £2 is not even a starting point for Centamin,
Thank you for your thoughts on this though.

From the joke price price and terms proposed by Endeavour it can already be regarded as hostile bid!
The accusations may be old, but it exposes the type of person running the company and the unwillingness by Endeavour to follow the due diligence protocol is proof that their intentions are hostile and they have scant regard for the interests of existing Centamin share holders!
Endeavour are desperate to get hold of the Centamin cash cow to prop up their company..
This is a a lousy offer and Endeavour should be given the cold shoulder by Centamin!
At present anything less than £2.00 plus should not even be considered !

Final Part 3
Al-Rajhi added: "We have plans in the Al-Sukari mine to expand over the project's estimated lifetime of about 30 years, and we are proceeding with steady and good steps in that matter."

He pointed out - in recent statements - that there is no mine in the world that sells its gold production directly in the market, since the matter requires exporting it to one of the global gold analysis laboratories to remove impurities from it, stamp it, and sell it in one of the gold exchanges, to eventually return to the exporting country in the form of Funds, and thus we send the production of "sugar" from gold to an analysis laboratory in Canada, a country known to those laboratories as countries; Australia, South Africa and China, which purifies, seals and sells it on the London Gold Exchange on its guarantee.

part 2
It is mentioned that 40 million dollars was transferred to the state treasury under the account of the profits of the Diabetes Gold Project during the first six months of this year.

Al-Rajhi stated that the most recent payment transferred under the profit account amounted to $ 5 million last month.

The Sugar Mine contributes to the total exports of Egypt by about 2%. As a result of the exports of the Sugar Mine from gold, the balance of payments between Canada and Egypt is in favor of the latter.
Payment of 140 million dollars in taxes ... and more than 700 million pounds in taxes

On the level of the royalty and other taxes that the project pays, Al-Rajhi indicated that since the production of the diabetes project began, 140 million dollars in royalty and more than 700 million pounds of taxes have been transferred to the state treasury.

Several companies work in Egypt in the field of research and exploration for gold, including the "Matz Holding" Cypriot, but "Santamin" is the only producer of gold in Egypt at present.

On the current production level, Al-Rajhi stressed the regularity of production rates within the mine, and implementing them according to the targeted schedules and plans.

The "sugar" is one of the 25 largest mines in the world in terms of production volume.

Al-Rajhi said that the production rates of the Al-Sukari mine project currently range from one to one and a half tons on average, equivalent to approximately 40,000 ounces.
255 thousand ounces targeted for production in the second half of 2019

On the targeted production rates during the second half of this year, he explained that it is intended to produce 255 thousand ounces during that period, so that the total production will increase throughout the whole year and by the end of next December to about 490 thousand ounces.

It is noteworthy that the total production of the diabetes project reached about 235 thousand ounces during the first half of this year.

The average gold reserves of the project are about 13 million ounces, and it is estimated that they will be produced within 30 years from the start of the project, which classifies with it the sugar mine within the main global lists of gold.

Regarding the company's expansions during the coming period, and the extent of its desire to participate in any new auctions that are offered for prospecting for gold and minerals in Egypt, Al-Rajhi said: “We await the issuance of the executive regulations to judge these amendments and look at the feasibility of expansion or not.

The Diabetes Project employs approximately 4,500 individuals, directly and indirectly, from engineers, geologists, and various workers from the cities of Upper Egypt and the Red Sea. The project deals with more than 1,000 suppliers, over 50 Egyptian contracting companies, to supply it with the production needs.

Al-Rajhi added: "We have plans in the Al-Sukari mine to expand over the project's estimated lifetime of

The total capital expenditures of the Australian company "Santamin" in the "Sugar" Gold project amounted to about $ 1.3 billion, while it plans to pump more investments during the coming years, to complete its business and maintain high production levels, targeting the production of about 490 thousand ounces of gold by the end of 2019.

The Al-Sukari mine is located in the Eastern Desert, and the Mineral Resources Authority signed with the Pharaonic Company for Gold Mines «affiliated to the Australian Santamin Company» an agreement in 1994, and the commercial gold disclosure was announced, and the establishment of a company to implement the operations under the name of “Al Sukari Gold Mines Company”, and started production since 2010 As a joint company between Santamine and the Authority.

Youssef Al-Rajhi, General Manager of the Pharaonic Company for Gold Mines «Santamine Egypt», and the managing director of “Al Sukari” Company for Gold Mines, revealed that the total capital banks of the company, since the start of its work in the Diabetic Gold Project until last November 30, amounted to $ 1.3 billion, stressing that the company is currently operating On implementing new investments, it will be included in next year's budget.
$ 4.8 billion in total sales as of last November 30

He drew - in his dialogue with the "money" - that the value of total sales of gold since the production of the diabetes project amounted to about $ 4.8 billion.

It is worth noting that the gold extracted from the Sugar Mine is shipped in parcels to Canada for purification by one of the largest purification companies in the world, then stamped and stamped with a stamp of 9999, after which it becomes valid for sale on the global gold exchanges.

Regarding the process of sharing the project's profits with the government, Al-Rajhi revealed that since the start of the profit sharing with the Egyptian government, about $ 306 million has been transferred to the state’s public treasury, under this item.

According to the agreement signed between the Mineral Resources Authority and "Santamin" in 1994, the latter will finance the Al-Sukari mine project, and recover its expenses entirely from the proceeds from the sale of gold, along with the payment of 3% royalties to the Mineral Resources Authority, with the sharing of profits from the sale of the gold mine between them and the Egyptian government, at a rate 55% for the "last".

The company "Diabetes" for gold mines began sharing production profits with the Egyptian government during 2017, after recovering the full costs of its expansions throughout the project stages.

Al-Rajhi indicated that the total profits transferred to the state treasury from the beginning of the second half of this year until November 30 last amounted to about $ 31.5 million.

It is mentioned that 40 million dollars was transferred to the state treasury under the account of the profits of the Diabetes Gold Project during the first six m

Hi Siko,
Thank you for this information.
This confirms the impression I had been given by a long time reliable contact , although I didn't want to post it in case they were mistaken.

Perhaps we should all make our views and opinions known in the comments section below the "This is Money" article?